Document:

exv10w2

EXHIBIT 10.2

 

 

NILT TRUST,

as Grantor and UTI Beneficiary,

NISSAN MOTOR ACCEPTANCE CORPORATION,

as Servicer,

NILT, INC.,

as Titling Trustee,

WILMINGTON TRUST COMPANY,

as Delaware Trustee,

and

U.S. BANK NATIONAL ASSOCIATION,

as Trust Agent

 

2010-A SUBI

SUPPLEMENT

Dated as of May 25, 2010

 

 

 

 

 

	 	 	 	 	 

	ARTICLE ELEVEN DEFINITIONS
	 	 	 	 
	Section 11.01 Definitions
	 	 	2	 
	Section 11.02 Interpretive Provisions
	 	 	2	 
	Section 11.03 Rights in Respect of the 2010-A SUBI
	 	 	3	 
	ARTICLE TWELVE CREATION OF THE 2010-A SUBI
	 	 	 	 
	Section 12.01 Creation of 2010-A SUBI Assets and the 2010-A SUBI
	 	 	3	 
	Section 12.02 Transfer of 2010-A SUBI Interests
	 	 	3	 
	Section 12.03 Issuance and Form of 2010-A SUBI Certificate
	 	 	4	 
	Section 12.04 Actions and Filings
	 	 	6	 
	Section 12.05 Termination of the 2010-A SUBI
	 	 	6	 
	Section 12.06 Representations and Warranties of Titling Trustee
	 	 	7	 
	Section 12.07 Transfer and Assignment of Certificates
	 	 	7	 
	ARTICLE THIRTEEN 2010-A SUBI PLEDGE
	 	 	 	 
	Section 13.01 Registration of the 2010-A SUBI Pledge
	 	 	8	 
	ARTICLE FOURTEEN 2010-A SUBI ACCOUNTS
	 	 	 	 
	Section 14.01 2010-A SUBI Collection Account
	 	 	8	 
	Section 14.02 2010-A Reserve Account
	 	 	9	 
	Section 14.03 Investment of Monies in 2010-A SUBI Accounts
	 	 	9	 
	Section 14.04 No Residual Value Surplus Account or Payahead Account
	 	 	9	 
	ARTICLE FIFTEEN MISCELLANEOUS PROVISIONS
	 	 	 	 
	Section 15.01 Amendment
	 	 	9	 
	Section 15.02 Governing Law
	 	 	11	 
	Section 15.03 Notices
	 	 	11	 
	Section 15.04 Severability of Provisions
	 	 	11	 
	Section 15.05 Effect of Supplement on Titling Trust Agreement
	 	 	11	 
	Section 15.06 No Petition
	 	 	12	 
	Section 15.07 No Recourse
	 	 	12	 
	EXHIBIT
	 	 	 	 
	 
	 	 	 	 
	Exhibit A  —  Form of 2010-A SUBI Certificate
	 	 	A-1	 

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2010-A SUBI SUPPLEMENT

     This 2010-A SUBI Supplement, dated as of May 25, 2010 (as amended, supplemented or otherwise
modified from time to time, this “2010-A SUBI Supplement”), is among NILT Trust, a Delaware
statutory trust (“NILT Trust”), as grantor and initial beneficiary (in such capacity, the
“Grantor” and the “UTI Beneficiary,” respectively), Nissan Motor Acceptance
Corporation, a California corporation (“NMAC”), as servicer, (the “Servicer”),
NILT, Inc., a Delaware corporation, as trustee (the “Titling Trustee”), Wilmington Trust
Company, a Delaware banking corporation, as Delaware trustee (the “Delaware Trustee”), and
U.S. Bank National Association, a national banking association (“U.S. Bank”), as trust
agent (the “Trust Agent”).

RECITALS

     A. Pursuant to the Amended and Restated Trust and Servicing Agreement, dated as of August 26,
1998 (the “Titling Trust Agreement”), among the parties hereto, Nissan-Infiniti LT, a
Delaware statutory trust (the “Titling Trust”), was formed to take assignments and
conveyances of and hold in trust various assets (the “Trust Assets”);

     B. The UTI Beneficiary, the Servicer and the Titling Trust have entered into the SUBI
Servicing Agreement, dated as of March 1, 1999 as amended by the First Amendment to Servicing
Agreement, dated as of January 3, 2001 (the “Basic Servicing Agreement”), which provides
for, among other things, the servicing of the Trust Assets by the Servicer;

     C. Pursuant to the Titling Trust Agreement, from time to time the Titling Trustee, on behalf
of the Titling Trust and at the direction of the UTI Beneficiary, will identify and allocate on the
books and records of the Titling Trust certain Trust Assets and create and issue one or more
special units of beneficial interest (each, a “SUBI”), the beneficiaries of which generally
will be entitled to the net cash flows arising from the corresponding Trust Assets;

     D. The parties hereto desire to supplement the Titling Trust Agreement (as so supplemented by
this 2010-A SUBI Supplement, the “SUBI Trust Agreement”) to create a SUBI (the “2010-A
SUBI”);

     E. The parties hereto desire to identify and allocate to the 2010-A SUBI a separate portfolio
of Trust Assets consisting of leases (the “2010-A Leases”), the vehicles that are leased
under the 2010-A Leases (the “2010-A Vehicles”), and certain other related assets;

     F. The parties hereto also desire to issue to NILT Trust a certificate evidencing a 100%
beneficial interest in the 2010-A SUBI (the “2010-A SUBI Certificate”).

     G. NILT Trust will transfer the 2010-A SUBI Certificate to Nissan Auto Leasing LLC II
(“NALL II”) pursuant to the SUBI Certificate Transfer Agreement, dated as of May 25, 2010
(the “SUBI Certificate Transfer Agreement”), between NILT Trust and NALL II. NALL II will
further transfer the 2010-A SUBI Certificate to Nissan Auto Lease Trust 2010-A (the “Issuing
Entity”) pursuant to the Trust SUBI Certificate Transfer Agreement, dated as of May 25, 2010
(the “Trust SUBI Certificate Transfer Agreement”), between NALL II, as depositor (the
“Depositor”) and the Issuing Entity, as transferee.

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     H. Pursuant to the Indenture, dated as of May 25, 2010 (the “Indenture”), between the
Issuing Entity, as issuer, and U.S. Bank, as indenture trustee (the “Indenture Trustee”),
the Issuing Entity will (i) issue $201,000,000 aggregate principal amount of 0.56080% Asset Backed
Notes, Class A-1 (the “Class A-1 Notes”), $243,000,000 aggregate principal amount of 1.10%
Asset Backed Notes, Class A-2 (the “Class A-2 Notes”), $256,000,000 aggregate principal
amount of 1.39% Asset Backed Notes, Class A-3 (the “Class A-3 Notes”), and $50,000,000
aggregate principal amount of 1.61% Asset Backed Notes, Class A-4 (the “Class A-4 Notes”)
(collectively, the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4
Notes are referred to herein as the “Notes”); and (ii) pledge the 2010-A SUBI Certificate
to the Indenture Trustee for the benefit of the holders of the Notes.

     I. The parties hereto also desire to register a pledge of the 2010-A SUBI Certificate to the
Indenture Trustee for the benefit of the holders of the Notes.

     NOW, THEREFORE, in consideration of the mutual agreements herein contained, and of other good
and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties
hereto agree as follows:

ARTICLE ELEVEN

DEFINITIONS

     Section 11.01 Definitions. Capitalized terms used herein that are not otherwise
defined shall have the respective meanings ascribed thereto in the Agreement of Definitions, dated
as of May 25, 2010, by and among the Issuing Entity, NILT Trust, as the Grantor and the UTI
Beneficiary, the Titling Trust, NMAC, in its individual capacity, as Servicer and as administrative
agent (in such capacity, the “Administrative Agent”), NALL II, the Titling Trustee,
Wilmington Trust Company, as Delaware Trustee and owner trustee (in such capacity, the “Owner
Trustee”), the Trust Agent and the Indenture Trustee.

     Section 11.02 Interpretive Provisions. For all purposes of this 2010-A SUBI
Supplement, except as otherwise expressly provided or unless the context otherwise requires, (i)
terms used herein include, as appropriate, all genders and the plural as well as the singular, (ii)
references to this 2010-A SUBI Supplement include all Exhibits hereto, (iii) references to words
such as “herein,” “hereof” and the like shall refer to this 2010-A SUBI Supplement as a whole and
not to any particular part, Article, or Section herein, (iv) references to an Article or Section
such as “Article Twelve” or “Section 12.01” shall refer to the applicable Article or
Section of this 2010-A SUBI Supplement, (v) the term “include” and all variations thereof shall
mean “include without limitation,” (vi) the term “or” shall include “and/or” and (vii) the term
“proceeds” shall have the meaning ascribed to such term in the UCC.

     Any reference in this 2010-A SUBI Supplement to any agreement means such agreement as it may
be amended, restated, supplemented (only to the extent such agreement as supplemented relates to
the Notes), or otherwise modified from time to time. Any reference in this 2010-A SUBI Supplement
to any law, statute, regulation, rule, or other legislative action shall mean such law, statute,
regulation, rule, or other legislative action as amended, supplemented, or otherwise modified from
time to time, and shall include any rule or regulation

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promulgated thereunder. Any reference in this 2010-A SUBI Supplement to a Person shall include
the successor or permitted assignee of such Person.

     Section 11.03 Rights in Respect of the 2010-A SUBI. Each Holder and Registered Pledgee
of the 2010-A SUBI Certificate (including the Issuing Entity) is a third-party beneficiary of the
SUBI Trust Agreement insofar as the Titling Trust Agreement and this 2010-A SUBI Supplement apply
to the 2010-A SUBI, the Holders of the 2010-A SUBI Certificate, and the Registered Pledgees of the
2010-A SUBI Certificate. Therefore, to that extent, references in the SUBI Trust Agreement to the
ability of a “Holder,” “Related Beneficiary,” or a “Registered Pledgee” of a SUBI Certificate to
take any action shall be deemed to refer to the Issuing Entity acting at its own instigation or
upon the instruction of the requisite voting percentage of holders of Securities or Rated
Securities, as specified in the Indenture or the Trust Agreement, as applicable.

ARTICLE TWELVE

CREATION OF THE 2010-A SUBI

     Section 12.01 Creation of 2010-A SUBI Assets and the 2010-A SUBI.

     (a) Pursuant to Section 3.01(a) of the Titling Trust Agreement, the UTI Beneficiary
directs the Titling Trustee to create, and the Titling Trustee hereby creates, one Sub-Trust which
shall be known as the “2010-A SUBI”. The 2010-A SUBI shall represent a special unit of
beneficial interest solely in the 2010-A SUBI Assets. As of the date hereof, no UTI Pledge exists.

     (b) Pursuant to Section 3.01(a) of the Titling Trust Agreement, the UTI Beneficiary
hereby directs the Titling Trustee to identify and allocate or to cause to be identified and
allocated to the 2010-A SUBI on the books and records of the Titling Trust a separate Sub-Trust of
Trust Assets consisting of 2010-A Eligible Leases and the related Leased Vehicles and other
associated Trust Assets owned by the Titling Trust and not allocated to any Other SUBI or reserved
for allocation to any Other SUBI (or owned or acquired by the Titling Trustee on behalf of the
Titling Trust but not yet allocated to, or reserved for allocation to, any specific Sub-Trust).
Such Trust Assets (the “2010-A SUBI Assets”) shall be accounted for and held in trust
independently from all other Trust Assets within the Titling Trust. Based upon their identification
and allocation by the Servicer pursuant to the 2010-A Servicing Supplement, the Titling Trustee
hereby identifies and allocates as 2010-A SUBI Assets the 2010-A Leases and 2010-A Vehicles more
particularly described on the Schedule of 2010-A Leases and 2010-A Vehicles and the related Trust
Assets described above, each such 2010-A SUBI Asset to be identified on the books and accounts of
the Titling Trust as being allocated to the 2010-A SUBI.

     (c) The Titling Trust is hereby granted the power and authority and is authorized, and the
Titling Trustee is authorized on behalf of the Titling Trust, to execute, deliver and perform its
obligations under the Basic Documents.

     Section 12.02 Transfer of 2010-A SUBI Interests.

     (a) Interests in the 2010-A SUBI may not be transferred or assigned by the UTI Beneficiary,
and any such purported transfer or assignment shall be deemed null, void, and of no

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effect herewith; provided, however, that the 2010-A SUBI Certificate and the
interests in the 2010-A SUBI represented thereby may be (i) sold to the Depositor pursuant to the
SUBI Certificate Transfer Agreement, (ii) sold, transferred and assigned by the Depositor
absolutely, or transferred and assigned or a security interest therein granted, in connection with
a Securitized Financing, (iii) transferred to the Indenture Trustee or any subsequent Registered
Pledgee to itself or any other Person following the occurrence of an Event of Default (which has
not been rescinded) or any similar term in any subsequent Securitized Financing secured by the
2010-A SUBI Certificate or any interest therein and (iv) transferred to each direct or indirect
permitted transferee of the Indenture Trustee or such subsequent Registered Pledgee, in each case
in the circumstances contemplated in, and subject to the conditions set forth in, Section
3.04(b) of the Titling Trust Agreement. Each such transfer shall be registrable upon surrender
of the 2010-A SUBI Certificate to be transferred for registration of the transfer at the corporate
trust office of the Titling Trustee (or the Trust Agent, if applicable), accompanied by a written
instrument of transfer in form satisfactory to the Titling Trustee duly executed by the Holder
thereof or such Holder’s attorney duly authorized in writing, and thereupon a new 2010-A SUBI
Certificate of a like aggregate fractional undivided interest will be issued to the designated
permitted transferee.

     (b) For any transfer of the 2010-A SUBI Certificate or an interest therein to be effective, on
or prior to the date of any absolute sale, transfer, or assignment, the related transferee must
execute and deliver to the Trustee the non-petition covenant and the agreement required pursuant to
Section 3.04(b) of the Titling Trust Agreement.

     (c) The 2010-A SUBI Certificate (or any interest therein) may not be acquired by or on behalf
of any Benefit Plan. The 2010-A SUBI Certificate (or any interest therein) may not be acquired by
or on behalf of a governmental plan, foreign plan or any other plan that is subject to any Similar
Law if the acquisition, holding and disposition of the 2010-A SUBI Certificate (or any interest
therein) would result in a nonexempt prohibited transaction under, or a violation of, Similar Law.

     (d) Notwithstanding any other provision herein, no transfer or assignment of an interest in
the 2010-A SUBI will be valid, and any such purported transfer or assignment shall be deemed null,
void, and of no effect herewith, unless the purported transferee first shall have certified in
writing to the Titling Trustee that, for U.S. federal income tax purposes, the transferee is not a
partnership, S Corporation, or grantor trust having more than one beneficial owner or having a
single beneficial owner that is a partnership or S Corporation.

     Section 12.03 Issuance and Form of 2010-A SUBI Certificate.

     (a) The 2010-A SUBI shall be represented by a 2010-A SUBI Certificate that shall represent a
100% beneficial interest in the 2010-A SUBI and the 2010-A SUBI Assets, as further set forth
herein. The 2010-A SUBI Certificate shall, upon transfer to the Issuing Entity, be registered in
the name of the Issuing Entity, representing the beneficial interest in the 2010-A SUBI Assets
allocated from the UTI. The Titling Trustee shall register a pledge of the 2010-A SUBI Certificate
in favor of the Indenture Trustee (for the benefit of the holders of the Notes), as provided in
Article Thirteen, and shall deliver the 2010-A SUBI Certificate to the Indenture Trustee. The
2010-A SUBI Certificate shall be substantially in the form of Exhibit A attached hereto,
with such appropriate insertions, omissions, substitutions and other variations as are

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required by this 2010-A SUBI Supplement and may have such letters, numbers or other marks of
identification and such legends and endorsements placed thereon as may, consistently herewith and
with the Titling Trust Agreement, be directed by the UTI Beneficiary. Any portion of any 2010-A
SUBI Certificate may be set forth on the reverse thereof, in which case the following reference to
the portion of the text on the reverse shall be inserted on the face thereof, in relative proximity
to and prior to the signature of the Titling Trustee executing such 2010-A SUBI Certificate:

     Reference is hereby made to the further provisions of this certificate set forth on the
reverse hereof, which provisions shall for all purposes have the same effect as if set forth at
this place.

     In addition, the 2010-A SUBI Certificate will bear a legend to the following effect:

     THIS 2010-A SUBI CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (“THE SECURITIES ACT”), OR UNDER ANY STATE SECURITIES OR BLUE SKY LAW. THE
HOLDER HEREOF, BY PURCHASING THIS 2010-A SUBI CERTIFICATE, AGREES THAT THIS 2010-A SUBI CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES
ACT AND OTHER APPLICABLE LAWS, INCLUDING PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO AN INSTITUTIONAL INVESTOR THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED
INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A “QIB”), PURCHASING FOR ITS OWN ACCOUNT OR A
QIB PURCHASING FOR THE ACCOUNT OF A QIB, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE
REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A AND IN ACCORDANCE
WITH ALL APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTIONS.

     THIS 2010-A SUBI CERTIFICATE (OR ANY INTEREST HEREIN) MAY NOT BE ACQUIRED BY OR ON BEHALF OF
(I) AN “EMPLOYEE BENEFIT PLAN” AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED (“ERISA”), THAT IS SUBJECT TO TITLE I OF ERISA, (II) A “PLAN” AS
DEFINED IN SECTION 4975(e)(1) OF INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), THAT IS
SUBJECT TO SECTION 4975 OF THE CODE OR (III) ANY ENTITY DEEMED TO HOLD THE “PLAN ASSETS” (WITHIN
THE MEANING OF 29 C.F.R. SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA) OF ANY OF THE
FOREGOING. IF THIS 2010-A SUBI CERTIFICATE (OR ANY INTEREST HEREIN) IS PURCHASED OR HELD BY A
GOVERNMENTAL PLAN, FOREIGN PLAN OR ANY OTHER PLAN THAT IS SUBJECT TO ANY APPLICABLE LAW THAT IS
SUBSTANTIALLY SIMILAR TO THE FIDUCIARY RESPONSIBILITY OR PROHIBITED TRANSACTION PROVISIONS OF TITLE
I OF ERISA OR SECTION 4975 OF THE CODE (“SIMILAR LAW”), IT SHALL BE DEEMED TO REPRESENT AND WARRANT
THAT ITS ACQUISITION, HOLDING AND DISPOSITION OF THIS 2010-A SUBI CERTIFICATE (OR ANY INTEREST
HEREIN) WILL NOT RESULT IN A NONEXEMPT PROHIBITED TRANSACTION UNDER, OR A VIOLATION OF, SIMILAR
LAW.

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     The 2010-A SUBI Certificate shall be printed, lithographed, typewritten, mimeographed,
photocopied, or otherwise produced or may be produced in any other manner as may, consistently
herewith and with the Titling Trust Agreement, be determined by the UTI Beneficiary. The 2010-A
SUBI Certificate and the interest in the 2010-A SUBI evidenced thereby shall constitute a
“security” within the meaning of Section 8-102(a)(15) of the UCC and a “certificated security”
within the meaning of Section 8-102(a)(4) of the UCC.

     (b) If (i) the 2010-A SUBI Certificate is mutilated and surrendered to the Titling Trustee, or
the Titling Trustee receives evidence to its satisfaction of the destruction, loss, or theft of the
2010-A SUBI Certificate and (ii) there is delivered to the Titling Trustee such security or
indemnity as may reasonably be required by it to hold the Issuing Entity and the Titling Trustee,
as applicable, harmless, then the Titling Trustee shall execute and deliver, in exchange for or in
lieu of any such mutilated, destroyed, lost or stolen 2010-A SUBI Certificate, a replacement 2010-A
SUBI Certificate. Every 2010-A SUBI Certificate issued pursuant to this Section 12.03(b) in
replacement of any mutilated, destroyed, lost, or stolen 2010-A SUBI Certificate shall constitute
an original additional contractual obligation of the Issuing Entity, whether or not the mutilated,
destroyed, lost, or stolen 2010-A SUBI Certificate shall be at any time enforceable by anyone and
shall be entitled to all of the benefits of the SUBI Trust Agreement equally and proportionately
with any and all other 2010-A SUBI Certificates duly issued hereunder. The provisions of this
Section 12.03(b) are exclusive and preclude (to the extent lawful) all other rights and
remedies with respect to the replacement or payment of mutilated, destroyed, lost, or stolen 2010-A
SUBI Certificates.

     Section 12.04 Actions and Filings. Each of the UTI Beneficiary and the Titling Trustee
shall undertake all other and future actions and activities as may be deemed reasonably necessary
by the Servicer pursuant to the Servicing Agreement to perfect (or evidence) and confirm the
foregoing allocations of Trust Assets to the 2010-A SUBI, including filing or causing to be filed
UCC financing statements and executing and delivering all related filings, documents or writings as
may be deemed reasonably necessary by the Servicer or the Registered Pledgee hereunder or under any
other Basic Document. The UTI Beneficiary hereby irrevocably makes and appoints each of the Titling
Trustee and the Servicer, and any of their respective officers, employees or agents, as the true
and lawful attorney-in-fact of the UTI Beneficiary (which appointment is coupled with an interest
and is irrevocable) with power to sign on behalf of the UTI Beneficiary any financing statements,
continuation statements, security agreements, mortgages, assignments, affidavits, letters of
authority, notices or similar documents necessary or appropriate to be executed or filed pursuant
to this Section.

     Section 12.05 Termination of the 2010-A SUBI.

     (a) In connection with any purchase by the Servicer of the corpus of the Issuing Entity
pursuant to Article Nine of the Trust Agreement, the succession of the Servicer to the interest in
the 2010-A SUBI represented by the 2010-A SUBI Certificate, or should all of the interest in the
2010-A SUBI thereafter be held by the UTI Beneficiary or the Holders of the UTI Certificates,
whether by transfer, sale, or otherwise, then upon the direction of such Holders, the 2010-A SUBI
shall be terminated, the 2010-A SUBI Certificate shall be returned to the Titling Trustee and
canceled, and the Servicer shall reallocate all 2010-A SUBI Assets to the UTI.

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     (b) So long as the Notes are Outstanding, the 2010-A SUBI shall not be dissolved unless (a)
required by law or (b) at the direction of the Holder of the 2010-A SUBI Certificate (but only with
the consent of the Registered Pledgee); provided, however, that upon the sale of
the Owner Trust Estate pursuant to Section 5.04 of the Indenture, this 2010-A SUBI
Supplement shall terminate and the 2010-A SUBI shall be terminated; provided
further, that such termination shall affect the Titling Trust only insofar as such
termination relates to the 2010-A SUBI. Such termination shall not entitle the legal
representatives of the 2010-A SUBI or any Holder of a 2010-A SUBI Certificate to take any action
for a partition or winding up of the Titling Trust or any Trust Assets except with respect to the
2010-A SUBI Assets and the rights, obligations and Liabilities of the parties hereto shall not
otherwise be affected. In connection with the sale of the Owner Trust Estate pursuant to
Section 5.04 of the Indenture, the Registered Pledgee shall have the right to direct the
Holder of the 2010-A SUBI Certificate to dissolve the 2010-A SUBI in accordance with the provisions
of the Indenture, and the 2010-A SUBI Assets shall be distributed out of the Titling Trust at the
direction of the Holder of the 2010-A SUBI Certificate acting in accordance with instructions from
the Registered Pledgee and the purchaser shall take delivery of such 2010-A SUBI Assets. The
Titling Trustee and the other parties hereto shall cooperate with the Owner Trustee or the Titling
Trustee, as applicable, to cause the related 2010-A Vehicles to be retitled as directed by the
purchaser. The proceeds of such sale shall be distributed in the following amounts and priority:

     (i) to the Indenture Trustee, all amounts required to be paid under
Section 6.07 of the Indenture, or to the Owner Trustee, all amounts required to be
paid under Section 8.01 of the Trust Agreement, as the case may be;

     (ii) to the Servicer, any Payment Date Advance Reimbursement;

     (iii) to the Servicer, amounts due in respect of unpaid Servicing Fees; and

     (iv) to the Certificate Distribution Account (or, if the Lien of the Indenture is
outstanding, the Note Distribution Account) to be distributed pursuant to Section
5.04(b) of the Indenture.

     Section 12.06 Representations and Warranties of Titling Trustee. The Titling Trustee
hereby reaffirms, as of the Cutoff Date, the representations, warranties and covenants set forth in
Section 5.12 of the Titling Trust Agreement, on which the Grantor and UTI Beneficiary, each
of its permitted assignees, and each Holder or Related Beneficiary of a 2010-A SUBI Certificate
(and beneficial owner of any portion thereof, including the Issuing Entity and the Trust
Certificateholders) may rely. For purposes of this Section, any reference in Section 5.12
of the Titling Trust Agreement to the Titling Trust Agreement shall be deemed to constitute
references to the SUBI Trust Agreement.

     Section 12.07 Transfer and Assignment of Certificates. For purposes of the SUBI Trust
Agreement, the third sentence of Section 3.04(b) of the Titling Trust Agreement is hereby
amended to read as follows:

     Notwithstanding the foregoing, prior to becoming the Registered Pledgee or Holder of a SUBI
Certificate or otherwise becoming entitled to distributions or any other rights hereunder,

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the related transferee, assignee, or pledgee in each case must (i) give a non-petition
covenant substantially similar to that set forth in Section 8.08 of the Titling Trust
Agreement and (ii) execute an agreement in favor of each Holder from time to time of a UTI
Certificate and any certificate evidencing an Other SUBI to release all Claims to the UTI Assets
and the related Other SUBI Assets, respectively, and, if such release is not given effect, to
subordinate fully all Claims it may be deemed to have against the UTI Assets as defined in the
Titling Trust Agreement or such Other SUBI Assets, as the case may be.

     For so long as the 2010-A SUBI Certificate remains outstanding, each Supplement shall contain
a similar amendment with respect to such Section.

ARTICLE THIRTEEN

2010-A SUBI PLEDGE

     Section 13.01 Registration of the 2010-A SUBI Pledge. The parties hereto hereby
acknowledge the Issuing Entity’s pledge, assignment, and grant to the Indenture Trustee, for the
benefit of the holders of the Notes, under the Indenture of a security interest in the 2010-A SUBI
Certificate together with all rights appurtenant thereto and proceeds thereof, to secure the Notes.
The Titling Trustee hereby acknowledges such pledge, assignment, and grant of security interest,
and the Titling Trustee agrees to cause the Indenture Trustee to be listed in the Certificate
Register as the Registered Pledgee of the 2010-A SUBI Certificate. The Issuing Entity has caused
the Titling Trustee to deliver the 2010-A SUBI Certificate to the Indenture Trustee, as Registered
Pledgee, who shall have the rights with respect thereto described herein and in the Indenture.

ARTICLE FOURTEEN

2010-A SUBI ACCOUNTS

     Section 14.01 2010-A SUBI Collection Account.

     (a) With respect to the 2010-A SUBI, the Servicer, shall on or prior to the Closing Date
establish, in the name of the Indenture Trustee until the Outstanding Amount of the Notes is zero,
and thereafter; in the name of the Owner Trustee, for the exclusive benefit of the holders of
interests in the 2010-A SUBI, the 2010-A SUBI Collection Account, which account shall constitute a
SUBI Collection Account. The 2010-A SUBI Collection Account initially shall be established with the
Indenture Trustee, and for so long as the Indenture Trustee has the Required Deposit Rating, shall
be maintained with the Indenture Trustee. If the Indenture Trustee at any time does not have the
Required Deposit Rating, the Servicer shall, with the assistance of the Indenture Trustee, as
necessary, cause such 2010-A SUBI Collection Account to be moved as described in Section
4.02(a) of the Titling Trust Agreement. If the Owner Trustee, or such other party holding the
Certificate Distribution Account, at any time does not have the Required Deposit Rating, the Owner
Trustee, or the Depositor on behalf of the Owner Trustee, if the Certificate Distribution Account
is not then held by the Owner Trustee or an Affiliate thereof, shall establish a new account
meeting the Required Deposit Rating and shall cause any funds to be moved thereto. The 2010-A SUBI
Collection Account shall relate solely to the 2010-A SUBI and the 2010-A SUBI Assets, and funds
therein shall not be commingled with any other monies, except as otherwise provided for in, or
contemplated by, the SUBI Trust Agreement or in the

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Servicing Agreement. All deposits into the 2010-A SUBI Collection Account shall be made as
described in the Servicing Agreement.

     (b) On each Deposit Date and Payment Date, pursuant to the instructions from the Servicer, the
Indenture Trustee shall make deposits and withdrawals from the 2010-A SUBI Collection Account as
set forth in the 2010-A Servicing Supplement.

     (c) Any transfer of funds to a Holder of a 2010-A SUBI Certificate shall be made as directed
pursuant to the Basic Documents.

     Section 14.02 2010-A Reserve Account.

     (a) Pursuant to Section 5.01(b) of the Trust Agreement, the Servicer, on behalf of the
Issuing Entity, shall on or prior to the Closing Date establish and maintain the Reserve Account
(i) with the Indenture Trustee, until the Outstanding Amount is reduced to zero, and (ii)
thereafter with the Owner Trustee. Deposits to and withdrawals from the Reserve Account shall be
made as directed pursuant to the Basic Documents, including Section 8.04(b) of the
Indenture, Section 8.03 of the 2010-A Servicing Supplement and Section 14.03 of
this 2010-A SUBI Supplement.

     Section 14.03 Investment of Monies in 2010-A SUBI Accounts. All amounts held in the
2010-A SUBI Collection Account and the Reserve Account shall be invested in Permitted Investments
in accordance with Section 4.02(a) of the Titling Trust Agreement. Any investment earnings
on the 2010-A SUBI Collection Account and the Reserve Account will be taxable to the Depositor.

     Section 14.04 No Residual Value Surplus Account or Payahead Account. The parties
hereby acknowledge that there shall be no Residual Value Surplus Account or Payahead Account (as
defined in the Titling Trust Agreement).

ARTICLE FIFTEEN

MISCELLANEOUS PROVISIONS

     Section 15.01 Amendment.

     (a) Notwithstanding any provision of the Titling Trust Agreement, the Titling Trust Agreement,
as supplemented by this 2010-A SUBI Supplement, to the extent that it relates solely to the 2010-A
SUBI, may be amended in accordance with this Section 15.01.

     (b) Any term or provision of this 2010-A SUBI Supplement may be amended by the parties hereto,
without the consent of any other Person; provided that (i) either (A) any amendment that materially
and adversely affects the interests of the Noteholders shall require the consent of Noteholders
evidencing not less than a Majority Interest of the Notes voting together as a single class or (B)
such amendment shall not, as evidenced by an Officer’s Certificate of the Servicer delivered to the
Indenture Trustee, materially and adversely affect the interests of the Noteholders and (ii) any
amendment adversely affects the interests of the Trust Certificateholder, the Indenture Trustee or
the Owner Trustee shall require the prior written consent of each Persons whose interests are
adversely affected. An amendment shall be deemed not to materially

9

 

and adversely affect the interests of the Noteholders if the Rating Agency Condition is
satisfied with respect to such amendment and the Officer’s Certificate described in the preceding
sentence is provided to the Indenture Trustee. The consent of the Trust Certificateholder or the
Owner Trustee shall be deemed to have been given if the Servicer does not receive a written
objection from such Person within 10 Business Days after a written request for such consent shall
have been given. The Indenture Trustee may, but shall not be obliged to, enter into or consent to
any such amendment that affects the Indenture Trustee’s own rights, duties, liabilities or
immunities under this Agreement or otherwise.

     (c) Notwithstanding the foregoing, no amendment shall (i) reduce the interest rate or
principal amount of any Note, or change the due date of any installment of principal of or interest
in any Note, or the Redemption Price with respect thereto, without the consent of the Holder of
such Note, or (ii) reduce the Outstanding Amount, the Holders of which are required to consent to
any matter without the consent of the Holders of at least a Majority Interest of the Notes which
were required to consent to such matter before giving effect to such amendment.

     (d) Notwithstanding anything herein to the contrary, any term or provision of this 2010-A SUBI
Supplement may be amended by the parties hereto without the consent of any of the Noteholders or
any other Person to add, modify or eliminate any provisions as may be necessary or advisable in
order to comply with or obtain more favorable treatment under or with respect to any law or
regulation or any accounting rule or principle (whether now or in the future in effect); it being a
condition to any such amendment that the Rating Agency Condition shall have been satisfied and the
Officer’s Certificate described in Section 15.01(b)(i)(B) is delivered to the Indenture
Trustee.

     (e) It shall not be necessary for the consent of any Person pursuant to this Section for such
Person to approve the particular form of any proposed amendment, but it shall be sufficient if such
Person consents to the substance thereof.

     (f) Prior to the execution of any amendment to this 2010-A SUBI Supplement, the Servicer shall
provide each Rating Agency, the Trust Certificateholder, the Depositor, the Owner Trustee and the
Indenture Trustee with written notice of the substance of such amendment. No later than 10
Business Days after the execution of any amendment to this 2010-A SUBI Supplement, the Servicer
shall furnish a copy of such amendment to each Rating Agency, the Issuing Entity, the Trust
Certificateholder, the Indenture Trustee and the Owner Trustee.

     (g) Prior to the execution of any amendment to this 2010-A SUBI Supplement, the Servicer shall
provide an Opinion of Counsel to the Titling Trustee to the effect that after such amendment, for
federal income tax purposes, the Titling Trust will not be treated as an association (or a publicly
traded partnership) taxable as a corporation and the Notes will properly be characterized as
indebtedness that is secured by the assets of the Issuing Entity.

     (h) None of U.S. Bank National Association, as trustee of NILT Trust and as Trust Agent, NILT,
Inc., nor the Indenture Trustee shall be under any obligation to ascertain whether a Rating Agency
Condition has been satisfied with respect to any amendment. When the Rating Agency Condition is
satisfied with respect to such amendment, the Servicer shall deliver to a Responsible Officer of
U.S. Bank National Association and the Indenture Trustee an Officer’s

10

 

Certificate to that effect, and U.S. Bank National Association and the Indenture Trustee may
conclusively rely upon the Officer’s Certificate from the Servicer that a Rating Agency Condition
has been satisfied with respect to such amendment.

     Section 15.02 Governing Law. This 2010-A SUBI Supplement shall be created under and
governed by and construed under the internal laws of the State of Delaware, without reference to
its conflicts of law provisions, and the obligations, rights and remedies of the parties hereunder
shall be determined in accordance with such laws.

     Section 15.03 Notices. The notice provisions of Section 8.03 of the Titling
Trust Agreement shall apply equally to this 2010-A SUBI Supplement. A copy of each notice or other
writing required to be delivered to the Titling Trustee pursuant to the SUBI Trust Agreement also
shall be in writing and, unless otherwise expressly provided herein, shall be deemed to have been
duly given or made when delivered by hand or, in the case of mail, email (if an email address is
provided) or facsimile notice, when actually received by the intended recipient, addressed to the
party to be notified, and sent to (i) the Owner Trustee at Wilmington Trust Company, Rodney Square
North, 1100 North Market Street, Wilmington, Delaware 19890 (telecopier no. (302) 651-8882),
Attention: Corporate Trust Administration; (ii) the Servicer at One Nissan Way, Franklin, Tennessee
37067 (telecopier no. (615) 725-1720) (email: shishir.bhushan@nissan-usa.com and
mark.wilten@nissan-usa.com), Attention: Treasurer; (iii) the Trust Agent at 209 South LaSalle
Street, Suite 300, Chicago, Illinois 60604, Attention: NILT, Inc. (telecopier no. (312) 325-8905)
(email: patricia.child@usbank.com); or (iv) at such other address as shall be designated by any of
the foregoing in written notice to the other parties hereto.

     Section 15.04 Severability of Provisions. If any one or more of the covenants,
agreements, provisions, or terms of this 2010-A SUBI Supplement (including any amendment hereto)
shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions, or
terms shall be deemed severable from the remaining covenants, agreements, provisions, or terms of
this 2010-A SUBI Supplement, as the same may be amended, and shall in no way affect the validity or
enforceability of the other provisions of the SUBI Trust Agreement or of the 2010-A SUBI
Certificate or the rights of the Registered Pledgees thereof. To the extent permitted by applicable
law, the parties hereto waive any provision of law that renders any covenant, agreement, provision,
or term of this 2010-A SUBI Supplement invalid or unenforceable in any respect.

     Section 15.05 Effect of Supplement on Titling Trust Agreement.

     (a) Except as otherwise specifically provided herein or unless the context otherwise requires,
(i) the parties hereto shall continue to be bound by all provisions of the Titling Trust Agreement,
(ii) all references in the Titling Trust Agreement to the Titling Trust Agreement shall be to the
SUBI Trust Agreement and (iii) the provisions set forth herein shall operate either as additions to
or modifications of the existing obligations of the parties under the Titling Trust Agreement, as
the context may require. In the event of any conflict between this 2010-A SUBI Supplement and the
Titling Trust Agreement in respect of the 2010-A SUBI, the provisions of this 2010-A SUBI
Supplement shall prevail with respect to the 2010-A SUBI only.

11

 

     (b) For purposes of determining the obligations of the parties hereto under this 2010-A SUBI
Supplement with respect to the 2010-A SUBI, except as otherwise indicated by the context, general
references in the Titling Trust Agreement to (i) a SUBI Account shall be deemed to refer more
specifically to a 2010-A SUBI Account, (ii) a SUBI shall be deemed to refer more specifically to
the 2010-A SUBI, (iii) a SUBI Collection Account shall be deemed to refer more specifically to the
2010-A SUBI Collection Account, (iv) a SUBI Asset shall be deemed to refer more specifically to a
2010-A SUBI Asset, (v) a SUBI Supplement shall be deemed to refer more specifically to this 2010-A
SUBI Supplement and (vi) a Servicing Supplement shall be deemed to refer more specifically to the
2010-A Servicing Supplement.

     Section 15.06 No Petition. Each of the parties hereto and each Holder of a 2010-A SUBI
Certificate, and each Registered Pledgee, by acceptance of a 2010-A SUBI Certificate, covenants and
agrees that prior to the date that is one year and one day after the date upon which all
obligations under each Securitized Financing have been paid in full, it will not institute against,
or join any other Person in instituting against the Grantor, the Depositor, the Titling Trustee,
the Titling Trust, the Issuing Entity, any Special Purpose Affiliate or any Beneficiary, any
bankruptcy, reorganization, arrangement, insolvency or liquidation Proceeding or other Proceeding
under any federal or state bankruptcy or similar law. This Section shall survive the complete or
partial termination of this 2010-A SUBI Supplement, the resignation or removal of the Titling
Trustee under the SUBI Trust Agreement and the complete or partial resignation or removal of the
Servicer under the SUBI Trust Agreement or the Servicing Agreement.

     Section 15.07 No Recourse. It is expressly understood and agreed by the parties hereto
that with respect to U.S. Bank’s role as trustee of NILT Trust only, and not with respect to its
role as Trust Agent (i) this Agreement is executed and delivered by U.S. Bank, not individually or
personally, but solely as trustee of NILT Trust, in the exercise of the powers and authority
conferred and vested in it, (ii) each of the representations, undertakings, and agreements herein
made on the part of NILT Trust, is made and intended not as personal representations, undertakings,
and agreements by U.S. Bank, but is made and intended for the purpose of binding only NILT Trust,
(iii) nothing herein contained shall be construed as creating any liability on U.S. Bank,
individually or personally, to perform any covenant, either expressed or implied, contained herein,
all such liability, if any, being expressly waived by the parties hereto and by any Person claiming
by, through or under the parties hereto, and (iv) under no circumstances shall U.S. Bank be
personally liable for the payment of any indebtedness or expenses of NILT Trust under this
Agreement or any other related documents.

[Signature Pages to Follow]

12

 

     IN WITNESS WHEREOF, the Grantor and UTI Beneficiary, the Servicer, the Titling Trustee, the
Delaware Trustee and, solely for the limited purposes set forth in Sections 14.01,
14.02, 14.03 and 14.04, the Trust Agent, have caused this 2010-A SUBI
Supplement to be duly executed by their respective officers as of the day and year first above
written.

	 	 	 	 	 
	 	NILT TRUST, as Grantor and UTI Beneficiary

By:    U.S. BANK NATIONAL ASSOCIATION,
          as Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	NISSAN MOTOR ACCEPTANCE CORPORATION, as Servicer

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	NILT, INC., as Titling Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WILMINGTON TRUST COMPANY, as Delaware Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

S-1

 

	 	 	 	 	 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,
 as Trust Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

S-2

 

	 	 	 	 	 

     Receipt of this original counterpart of this 2010-A SUBI Supplement is hereby acknowledged on
this ___ day of May, 2010.

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, as Indenture Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

S-3

 

	 	 	 	 	 

EXHIBIT A

FORM OF 2010-A SUBI CERTIFICATE

THIS 2010-A SUBI CERTIFICATE MAY NOT BE TRANSFERRED OR ASSIGNED

EXCEPT UPON THE TERMS AND SUBJECT TO THE CONDITIONS SPECIFIED HEREIN

NISSAN — INFINITI LT

2010-A SPECIAL UNIT OF BENEFICIAL INTEREST CERTIFICATE

evidencing a fractional undivided interest in the 2010-A SUBI Assets of
Nissan-Infiniti LT, a statutory trust organized pursuant to the Delaware Statutory
Trust Act (the “Titling Trust”).

(This Certificate does not represent any interest in the UTI Assets or any Other
SUBI Assets of the Issuing Entity or an obligation, of, or interest in, NILT Trust,
Nissan Motor Acceptance Corporation, NILT, Inc. or any of their respective
Affiliates.)

THIS 2010-A SUBI CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (“THE SECURITIES ACT”), OR UNDER ANY STATE SECURITIES OR BLUE SKY
LAW. THE HOLDER HEREOF, BY PURCHASING THIS 2010-A SUBI CERTIFICATE, AGREES THAT THIS 2010-A
SUBI CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN
COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, INCLUDING PURSUANT TO RULE
144A UNDER THE SECURITIES ACT (“RULE 144A”) TO AN INSTITUTIONAL INVESTOR THAT THE HOLDER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A
“QIB”), PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF A QIB, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS
BEING MADE IN RELIANCE ON RULE 144A AND IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF
ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTIONS.

     THIS 2010-A SUBI CERTIFICATE (OR ANY INTEREST HEREIN) MAY NOT BE ACQUIRED BY OR ON BEHALF OF
(I) AN “EMPLOYEE BENEFIT PLAN” AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED (“ERISA”), THAT IS SUBJECT TO TITLE I OF ERISA, (II) A “PLAN” AS
DEFINED IN SECTION 4975(e)(1) OF INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), THAT IS
SUBJECT TO SECTION 4975 OF THE CODE OR (III) ANY ENTITY DEEMED TO HOLD THE “PLAN ASSETS” (WITHIN
THE MEANING OF 29 C.F.R. SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA) OF ANY OF THE
FOREGOING. IF THIS 2010-A SUBI CERTIFICATE (OR ANY INTEREST HEREIN) IS PURCHASED OR HELD BY A
GOVERNMENTAL PLAN, FOREIGN PLAN OR ANY OTHER PLAN THAT IS SUBJECT TO ANY APPLICABLE LAW THAT IS

A-1

 

SUBSTANTIALLY SIMILAR TO THE FIDUCIARY RESPONSIBILITY OR PROHIBITED TRANSACTION PROVISIONS OF
TITLE I OF ERISA OR SECTION 4975 OF THE CODE (“SIMILAR LAW”), IT SHALL BE DEEMED TO REPRESENT AND
WARRANT THAT ITS ACQUISITION, HOLDING AND DISPOSITION OF THIS 2010-A SUBI CERTIFICATE (OR ANY
INTEREST HEREIN) WILL NOT RESULT IN A NONEXEMPT PROHIBITED TRANSACTION UNDER, OR A VIOLATION OF,
SIMILAR LAW.

No. R-___

evidencing a 100% interest in all 2010-A SUBI Assets (as defined below).

     This 2010-A Special Unit of Beneficial Interest Certificate does not represent an interest in
or obligation of Nissan Motor Acceptance Corporation, NILT, Inc. or any of their respective
affiliates.

     THIS CERTIFIES THAT                                          is the registered owner of a nonassessable, fully-paid,
100% beneficial interest in the 2010-A SUBI Assets owned by the Titling Trust.

     The Titling Trust was created pursuant to the Amended and Restated Trust and Servicing
Agreement, dated as of August 26, 1998 as amended, supplemented or otherwise modified from time to
time, (the “Titling Trust Agreement”), among NILT Trust, a Delaware statutory trust, as
grantor and initial beneficiary (in such capacities, the “Grantor” and the “UTI
Beneficiary,” respectively), NILT, Inc., a Delaware corporation, as trustee (the “Titling
Trustee”), Nissan Motor Acceptance Corporation, a California corporation, as servicer (the
“Servicer”), Wilmington Trust Company, a Delaware banking corporation, as Delaware trustee
(the “Delaware Trustee”), and U.S. Bank National Association, a national banking
association, as trust agent (the “Trust Agent”).

     This certificate is a duly authorized 2010-A SUBI Certificate, and is issued under and is
subject to the terms, provisions and conditions of the Titling Trust Agreement and the 2010-A SUBI
Supplement thereto, dated as of May 25, 2010 (the “2010-A SUBI Supplement” and, together with the
Titling Trust Agreement, the “SUBI Trust Agreement”). Capitalized terms used herein that are not
otherwise defined shall have the meanings ascribed thereto in the Agreement of Definitions, dated
as of May 25, 2010, by and among Nissan Auto Lease Trust 2010-A, as issuer, (the “Issuing Entity”)
NILT Trust, as the Grantor and the UTI Beneficiary, the Titling Trust, Nissan Motor Acceptance
Corporation, in its individual capacity, as the Servicer and administrative agent, Nissan Auto
Leasing LLC II (the “Depositor”), the Titling Trustee, Wilmington Trust Company, as owner trustee
and the Delaware Trustee, the Trust Agent and U.S. Bank National Association, as Trust Agent and as
indenture trustee ( the “Indenture Trustee”). By acceptance of this 2010-A SUBI Certificate, the
Holder hereof assents to the terms and conditions of the SUBI Trust Agreement and agrees to be
bound thereby. A summary of certain of the pertinent provisions of the SUBI Trust Agreement is set
forth below.

     The assets of the Titling Trust allocated to the 2010-A SUBI will generally consist of (i)
cash capital, (ii) the 2010-A Leases (iii) the 2010-A Vehicles, (iv) certain related Trust Assets
and (v) all of the Titling Trust’s rights thereunder, including the right to proceeds arising
therefrom or in connection therewith.

A-2

 

     Under the Titling Trust Agreement, from time to time the UTI Beneficiary may direct the
Trustee to issue to or upon the order of the UTI Beneficiary one or more certificates (each, a
“SUBI Certificate”) representing a beneficial interest in certain specified Leased
Vehicles, Leases and related Trust Assets (such assets, the “SUBI Assets”). Upon the
issuance of the SUBI Certificates relating to the SUBI Assets, the beneficial interest in the
Titling Trust and the Trust Assets represented by the UTI shall be reduced by the amount of the
Trust Assets represented by such SUBI Certificates. This certificate was issued pursuant to the
2010-A SUBI Supplement and represents a 100% beneficial interest in the 2010-A SUBI Assets.

     The UTI and the 2010-A SUBI shall each constitute a separate series of the Titling Trust
pursuant to Section 3806(b)(2) of the Delaware Statutory Trust Act for which separate and distinct
records shall be maintained. The 2010-A SUBI Certificate and the interest in the 2010-A SUBI
represented thereby constitutes a “security” within the meaning of Section 8-102(a)(15) of the
Delaware UCC and a “certificated security” within the meaning of Section 8-102(a)(4) of the
Delaware UCC.

     The 2010-A SUBI Supplement may be amended by the parties thereto upon the terms and subject to
the conditions set forth in the 2010-A SUBI Supplement.

     The Holder, by acceptance of this 2010-A SUBI Certificate, covenants and agrees that prior to
the date that is one year and one day after the date upon which all obligations under each
Securitized Financing have been paid in full, it will not institute against, or join any other
Person in instituting against, the Grantor, the Depositor, the Titling Trustee, the Titling Trust,
the Issuing Entity, any Beneficiary, any Special Purpose Affiliate, any bankruptcy,
reorganization, arrangement, insolvency or liquidation Proceeding or other Proceedings under any
federal or state bankruptcy or similar law. Such covenant shall survive the termination of the SUBI
Trust Agreement, the resignation or removal of the Titling Trustee under the SUBI Trust Agreement
or the complete or partial resignation of the Servicer under the SUBI Trust Agreement or the
Servicing Agreement.

     The Holder hereof hereby (i) expressly waives any claim it may have to any proceeds or assets
of the Titling Trustee and to all of the Trust Assets other than those from time to time included
within the 2010-A SUBI as 2010-A SUBI Assets and those proceeds or assets derived from or earned by
such 2010-A SUBI Assets and (ii) expressly subordinates in favor of the Holder of any certificate
evidencing an Other SUBI or a UTI Certificate any claim to any Other SUBI or UTI Assets that,
notwithstanding the waiver contained in clause (i), may be determined to exist.

     The Titling Trustee shall keep the certificate register with respect to this 2010-A SUBI
Certificate, and the Holder of this 2010-A SUBI Certificate shall notify the Titling Trustee of any
change of address or instructions on the distribution of funds.

     The 2010-A SUBI shall be deemed dissolved solely with respect to the 2010-A SUBI Assets, and
not as to any Trust Assets allocated to any other Sub-Trust, upon the written direction to the
Titling Trustee by the Holder of the 2010-A SUBI Certificate to revoke and dissolve the 2010-A
SUBI. So long as the Notes are outstanding, the 2010-A SUBI shall not be dissolved except (a) as
required by law or (b) at the direction of the Holder of the 2010-A SUBI

A-3

 

Certificate (but only with the consent of the Registered Pledgee); provided,
however, upon any sale of the Owner Trust Estate pursuant to Section 5.04 of the
Indenture, the Registered Pledgee shall have the right to direct the Holder of the 2010-A SUBI
Certificate to dissolve the 2010-A SUBI in accordance with the provisions of the Indenture. Upon
such dissolution of the Titling Trust with respect to the 2010-A SUBI and delivery of the 2010-A
SUBI Certificate to the Titling Trustee for cancellation, the Titling Trustee shall distribute to
the Holder of the 2010-A SUBI Certificate or its designee all 2010-A SUBI Assets and shall cause
the Certificates of Title to the 2010-A Vehicles to be issued in the name of, or at the direction
of, the Holder of the 2010-A SUBI Certificate (which may include reallocation of the 2010-A SUBI
Assets relating to the 2010-A Vehicles to the UTI). The Holder of the 2010-A SUBI Certificate to
whom such 2010-A SUBI Assets relating to the 2010-A Vehicles are distributed shall pay or cause to
be paid all applicable titling and registration fees and taxes.

     The Titling Trust or the UTI may terminate upon the terms and subject to the conditions set
forth in the SUBI Trust Agreement.

     No SUBI or SUBI Certificate shall be transferred or assigned except to the extent specified in
the SUBI Trust Agreement or in any related Supplement and, to the fullest extent permitted by
applicable law, any such purported transfer or assignment other than as so specified shall be
deemed null, void, and of no effect under the SUBI Trust Agreement. Notwithstanding the foregoing,
any SUBI Certificate and the interest in the SUBI evidenced thereby may be (i) transferred,
assigned or pledged to any Special Purpose Affiliate or (ii) transferred, assigned or pledged by
the Related Beneficiary or a Special Purpose Affiliate to or in favor of (A) a trustee for one or
more trusts or (B) one or more other entities, in either case solely for the purpose of securing or
otherwise facilitating one or more Securitized Financings.

     This 2010-A SUBI Certificate shall be governed by and construed under the internal laws of the
State of Delaware, without reference to its conflicts of law provisions.

     Unless this 2010-A SUBI Certificate shall have been executed by an authorized officer of the
Titling Trustee, by manual signature, this 2010-A SUBI Certificate shall not entitle the holder
hereof to any benefit under the SUBI Trust Agreement or be valid for any purpose.

A-4

 

     IN WITNESS WHEREOF, NILT, Inc., as trustee of the Titling Trust and not in its individual
capacity, has caused this 2010-A SUBI Certificate to be duly executed.

     Dated:                     ,  2010

	 	 	 	 	 
	 	NISSAN-INFINITI LT

 	 
	 	By:  	NILT, INC.,
 	 
	 	 	as Titling Trustee 	 
	 	 	 	 
	 

     (SEAL)

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

     ATTEST:

                                                                 

     This is the 2010-A SUBI Certificate referred to in the within-mentioned Supplement.

	 	 	 	 	 
	 	NILT, INC., as Titling Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Officer 	 
	 	 	 	 

A-5

 

	 	 	 	 	 

     FOR VALUE RECEIVED, the undersigned hereby sells, transfers and assigns unto                     
the within 2010-A SUBI Certificate, and all rights thereunder, hereby irrevocably constituting and
appointing                      as attorney to transfer said 2010-A SUBI Certificate on the books of the
certificate registrar, with full power of substitution in the premises.

	 	 	 	 	 
	 	NISSAN AUTO LEASE TRUST 2010-A

By: WILMINGTON TRUST COMPANY
as Owner Trustee

 	 
	Dated: 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

A-6exv10w3

EXHIBIT 10.3

 

 

NISSAN-INFINITI LT,

as Titling Trust,

NILT TRUST,

as Grantor and UTI Beneficiary,

and

NISSAN MOTOR ACCEPTANCE CORPORATION,

as Servicer,

 

2010-A SUBI

SERVICING SUPPLEMENT

Dated as of May 25, 2010

 

 

 

 

 

	 	 	 	 	 

	ARTICLE SEVEN DEFINITIONS
	 	 	 	 
	Section 7.01 Definitions
	 	 	1	 
	Section 7.02 Interpretative Provisions
	 	 	2	 
	ARTICLE EIGHT SERVICING OF THE 2010-A LEASES AND 2010-A VEHICLES
	 	 	 	 
	Section 8.01 Identification of 2010-A Leases and 2010-A Vehicles; Securitization Value
	 	 	2	 
	Section 8.02 Reallocation and Repurchase of 2010-A Leases and 2010-A Vehicles;
Purchase of Matured Vehicles; Lease Pull-Forwards
	 	 	2	 
	Section 8.03 Collections and Payment Date Advance Reimbursement
	 	 	4	 
	Section 8.04 Net Deposits
	 	 	6	 
	Section 8.05 Servicing Compensation
	 	 	6	 
	Section 8.06 Advances
	 	 	6	 
	Section 8.07 Third Party Claims
	 	 	7	 
	Section 8.08 Contingent and Excess Liability Insurance Policy
	 	 	7	 
	Section 8.09 Reporting by the Servicer; Delivery of Certain Documentation
	 	 	7	 
	Section 8.10 Accountants’ Attestation and Other Reports
	 	 	8	 
	Section 8.11 Servicer’s Assessment Report; Annual Servicer’s Compliance Statement;
Officer’s Certificate
	 	 	8	 
	Section 8.12 Servicer Defaults; Termination of Servicer
	 	 	9	 
	Section 8.13 Servicer Representations and Warranties
	 	 	11	 
	Section 8.14 Compliance with Regulation AB
	 	 	11	 
	Section 8.15 Additional Covenants of Servicer
	 	 	11	 
	ARTICLE NINE MISCELLANEOUS
	 	 	 	 
	Section 9.01 Termination of Servicing Supplement
	 	 	12	 
	Section 9.02 Governing Law
	 	 	12	 
	Section 9.03 Amendment
	 	 	12	 
	Section 9.04 Relationship of this 2010-A Servicing Supplement to Other Trust
Documents
	 	 	14	 
	Section 9.05 Binding Effect
	 	 	14	 
	Section 9.06 Table of Contents and Headings
	 	 	14	 
	Section 9.07 Counterparts
	 	 	14	 
	Section 9.08 Further Assurances
	 	 	14	 
	Section 9.09 Third-Party Beneficiaries
	 	 	14	 

i

 

	 	 	 	 	 

	Section 9.10 No Waiver; Cumulative Remedies
	 	 	14	 
	Section 9.11 No Petition
	 	 	15	 
	Section 9.12 No Recourse
	 	 	15	 
	EXHIBIT
	 	 	 	 
	Exhibit A — Form of Settlement Statement
	 	 	A-1	 
	Exhibit B — Form of Annual ERISA Certification
	 	 	B-1	 
	SCHEDULES
	 	 	 	 
	Schedule A — Regulation AB Representations, Warranties and Covenants
	 	 	 	 

ii

 

2010-A SUBI SERVICING SUPPLEMENT

     This 2010-A SUBI Servicing Supplement, dated as of May 25, 2010 (as amended, supplemented or
otherwise modified, this “2010-A Servicing Supplement”), is among Nissan-Infiniti LT, a
Delaware statutory trust (the “Titling Trust”), NILT Trust, a Delaware statutory trust, as
grantor and initial beneficiary of the Titling Trust (in such capacities, the “Grantor” and
the “UTI Beneficiary,” respectively), and Nissan Motor Acceptance Corporation, a California
corporation (“NMAC”), as servicer (the “Servicer”).

RECITALS

     A. The Grantor and the UTI Beneficiary, the Servicer, NILT, Inc., as trustee of the Titling
Trust (the “Titling Trustee”), Wilmington Trust Company, as Delaware trustee (the
“Delaware Trustee”), and U.S. Bank National Association (“U.S. Bank”), as trust
agent (the “Trust Agent”), have entered into the Amended and Restated Trust and Servicing
Agreement, dated as of August 26, 1998 (the “Titling Trust Agreement”), pursuant to which
the Titling Trust was created to, among other things, take assignments and conveyances of and hold
in trust various assets (the “Trust Assets”);

     B. The parties hereto have entered into the Servicing Agreement, dated as of March 1, 1999 as
amended by the First Amendment to the Servicing Agreement, dated as of January 3, 2001 (the
“Basic Servicing Agreement” and, as supplemented hereby, the “Servicing
Agreement”), which provides for certain servicing obligations with respect to the Trust Assets;
and

     C. The parties acknowledge that in connection with the execution of the 2010-A SUBI Supplement
to the Titling Trust Agreement, dated as of May 25, 2010 (the “2010-A SUBI Supplement”, and
together with the Titling Trust Agreement, the “SUBI Trust Agreement”), pursuant to which a
special unit of beneficial interest in the Titling Trust (the “2010-A SUBI”) will be
created, it is necessary and desirable to enter into a supplemental agreement to the Basic
Servicing Agreement providing for specific servicing obligations in connection with the Trust
Assets allocable to the 2010-A SUBI.

     NOW, THEREFORE, in consideration of the mutual agreements herein contained, and of other good
and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties
hereto agree as follows:

ARTICLE SEVEN

DEFINITIONS

     Section 7.01 Definitions. Capitalized terms used herein that are not otherwise defined
shall have the respective meanings ascribed thereto in the Agreement of Definitions, dated as of
May 25, 2010, by and among Nissan Auto Lease Trust 2010-A, as issuer (the “Issuing
Entity”), NILT Trust, as Grantor and UTI Beneficiary, the Titling Trust, NMAC, in its
individual capacity, as Servicer and as administrative agent (in such capacity, the
“Administrative Agent”), Nissan Auto Leasing LLC II, a Delaware limited liability company
(“NALL II”), the Titling Trustee, the Delaware Trustee, Wilmington Trust Company, as owner
trustee (in such capacity,

 

 

the “Owner Trustee”) and U.S. Bank, as Trust Agent and indenture trustee (in such
capacity, the “Indenture Trustee”).

     Section 7.02 Interpretative Provisions. For all purposes of this 2010-A Servicing
Supplement, except as otherwise expressly provided or unless the context otherwise requires, (i)
terms used in this 2010-A Servicing Supplement include, as appropriate, all genders and the plural
as well as the singular, (ii) references to this 2010-A Servicing Supplement include all Exhibits
hereto, (iii) references to words such as “herein”, “hereof”, and the like shall refer to this
2010-A Servicing Supplement as a whole and not to any particular part, Article, or Section herein,
(iv) references to an Article or Section such as “Article Eight” or “Section 8.01” shall refer to
the applicable Article or Section of this 2010-A Servicing Supplement, (v) the term “include” and
all variations thereof shall mean “include without limitation”, (vi) the term “or” shall include
“and/or”, (vii) the term “proceeds” shall have the meaning ascribed to such term in the UCC, (viii)
in the computation of a period of time from a specified date to a later specified date, the word
“from” shall mean “from and including” and the words “to” and “until” shall mean “to but excluding”
and (ix) the phrase “Titling Trustee on behalf of the Trust,” or words of similar import, shall, to
the extent required to effectuate the appointment of any Co-Trustee pursuant to the Titling Trust
Agreement, be deemed to refer to the Trustee (or such Co-Trustee) on behalf of the Titling Trust.

     Any reference in this 2010-A Servicing Supplement to any agreement means such agreement as it
may be amended, restated, supplemented (only to the extent such agreement as supplemented relates
to the Notes), or otherwise modified from time to time. Any reference in this 2010-A Servicing
Supplement to any law, statute, regulation, rule, or other legislative action shall mean such law,
statute, regulation, rule, or other legislative action as amended, supplemented, or otherwise
modified from time to time, and shall include any rule or regulation promulgated thereunder. Any
reference in this 2010-A Servicing Supplement to a Person shall include the successor or assignee
of such Person.

ARTICLE EIGHT

SERVICING OF THE 2010-A LEASES AND 2010-A VEHICLES

     Section 8.01 Identification of 2010-A Leases and 2010-A Vehicles; Securitization
Value. The Servicer hereby identifies as 2010-A SUBI Assets the Leased Vehicles and the Leases
relating to such Leased Vehicles more particularly described in the Schedule of 2010-A Leases and
2010-A Vehicles (respectively, the “2010-A Vehicles” and the “2010-A Leases”). The
Servicer shall calculate the Securitization Value for each 2010-A Lease as of the Cutoff Date.

     Section 8.02 Reallocation and Repurchase of 2010-A Leases and 2010-A Vehicles; Purchase of
Matured Vehicles; Lease Pull-Forwards.

     (a) (i) If the Servicer grants a lease term extension of more than 6 months or an extension
that extends beyond the Note Final Scheduled Payment Date for the “Class A-4 Notes,” with respect
to any 2010-A Lease, the Servicer shall, on the related Deposit Date, (A) deposit or cause to be
deposited into the 2010-A SUBI Collection Account an amount equal to

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the Repurchase Payment and (B) direct the Titling Trustee to either reallocate such 2010-A
Lease and the related 2010-A Vehicle from the 2010-A SUBI to the UTI or cause such 2010-A Lease and
2010-A Vehicle to be conveyed to the Servicer; and (ii) if a Lessee changes the domicile of or
title to a 2010-A Vehicle and such change would be likely to result in the Titling Trust doing
business in a Restricted Jurisdiction, the Titling Trust, or the Titling Trustee on behalf of the
Titling Trust, shall, as an obligation of the Titling Trust and at the direction of the Servicer,
on the related Deposit Date, (A) deposit or cause to be deposited into the 2010-A SUBI Collection
Account, from amounts held by the Titling Trust, an amount equal to the Repurchase Payment and (B)
either reallocate such 2010-A Lease and the related 2010-A Vehicle from the 2010-A SUBI to the UTI
or cause such 2010-A Lease and 2010-A Vehicle to be conveyed to the Servicer, unless the Servicer
has delivered to the Owner Trustee and the Indenture Trustee an Officer’s Certificate to the effect
that vehicles may be titled in the name of the Titling Trustee on behalf of the Titling Trust and
beneficial interests therein may be transferred without retitling in a Restricted Jurisdiction.

     (b) The Servicer hereby makes to the other parties hereto and the parties to the SUBI Trust
Agreement the representations and warranties contained in Section 2.06(a) of the Basic
Servicing Agreement as to each 2010-A Lease and 2010-A Vehicle as of the Vehicle Representation
Date. The Servicer also hereby represents and warrants that (i) each 2010-A Lease is an 2010-A
Eligible Lease and (ii) it used no adverse selection procedures in selecting any of the 2010-A
Leases or any of the 2010-A Vehicles for allocation to the 2010-A SUBI. Upon discovery by the
Titling Trustee, the Servicer, the Owner Trustee, the Indenture Trustee or the Depositor that any
representation or warranty in this Section 8.02(b) was incorrect as of the Cutoff Date in a
manner that materially adversely affects the interest of the Issuing Entity in the related 2010-A
Lease or 2010-A Vehicle, the entity discovering such incorrectness (if other than the Servicer)
shall give prompt written notice to the Servicer. If the Servicer does not cure in all material
respects the circumstance or condition with respect to which the representation or warranty was
incorrect as of the Cutoff Date prior to the end of the Collection Period which includes the
60th day (or, if the Servicer elects, an earlier date) after the date that the Servicer
discovers such incorrectness (whether pursuant to such notice or otherwise), then the Servicer
shall (i) deposit (or cause to be deposited) into the 2010-A SUBI Collection Account an amount
equal to the Repurchase Payment on the Deposit Date following the end of such Collection Period,
and (ii) direct the Titling Trustee to either reallocate such 2010-A Lease and the related 2010-A
Vehicle from the 2010-A SUBI to the UTI or cause such 2010-A Lease and 2010-A Vehicle to be
conveyed to the Servicer on the Deposit Date.

     (c) Immediately prior to the sale or disposition of a Matured Vehicle or a Defaulted Vehicle,
the Servicer may reallocate such Matured Vehicle or Defaulted Vehicle from the 2010-A SUBI to the
UTI for purposes of implementing NMAC’s like kind exchange program. In connection with such
reallocation, NILT Trust, as the UTI Beneficiary, will cause to be deposited into the 2010-A SUBI
Collection Account the Reallocation Payments no later than two Business Days after such
reallocation, or, if the Monthly Remittance Condition is met, the Servicer shall be permitted to
retain the Reallocation Payments received during a Collection Period until such amounts are
required to be disbursed as set forth in Section 8.03(c). Upon receipt of the Reallocation
Payments, the 2010-A SUBI shall have no claim against or interest in such Matured or Defaulted
Vehicle.

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     (d) In connection with the purchase by the Servicer of a Matured Vehicle relating to a 2010-A
Lease pursuant to Section 2.06(f) of the Basic Servicing Agreement, if (i) no Sales
Proceeds Advance has been made, the purchase price of such Matured Vehicle will equal the
Securitization Value of such 2010-A Lease as of the date of expiration and (ii) a Sales Proceeds
Advance has been made, (A) the purchase price will equal the amount of the Sales Proceeds Advance,
(B) no additional amounts need be remitted by the Servicer, and (C) the Servicer shall be deemed to
have been reimbursed for such Sales Proceeds Advance.

     (e) If any 2010-A Lease and the related 2010-A Vehicle are reallocated to the UTI, until such
time thereafter, if ever, as such Lease and Leased Vehicle are allocated to an Other SUBI, the
Servicer shall indemnify, defend and hold harmless the Related Beneficiaries, the Issuing Entity
and the Titling Trust from and against any and all loss or liability with respect to or resulting
from such 2010-A Lease or 2010-A Vehicle (including the reasonable fees and expenses of counsel)
except the Servicer shall not be liable for or required to indemnify the Related Beneficiaries, the
Issuing Entity and the Titling Trust from and against any and all special, indirect, consequential
or punitive losses or liabilities.

     (f) If the Servicer permits a Lease Pull-Forward, all Pull-Forward Payments due and payable by
the Lessee under the Lease will be paid and deposited in the SUBI Collection Account within the
time period required for the Servicer to deposit collections into the SUBI Collection Account;
provided that, if the Servicer waives the Pull-Forward Payment (or any portion thereof) payable by
the Lessee during any Collection Period, the Servicer will be required to deposit the waived amount
of the Pull-Forward Payment into the SUBI Collection Account by the next Deposit Date related to
such Collection Period.

     Section 8.03 Collections and Payment Date Advance Reimbursement.

     (a) The Servicer shall, with respect to SUBI Collections and amounts in respect of the 2010-A
SUBI Certificate, from time to time, determine the respective amounts and recipients and:

     (i) during each Collection Period, in addition to the deposits required by Section
2.07 of the Basic Servicing Agreement, deposit into the 2010-A SUBI Collection Account
all Repurchase Payments pursuant to Section 8.02(a) and Section 8.02(b), and
any Reallocation Payments pursuant to Section 8.02(c);

     (ii) on, or prior to each Deposit Date, deposit into the 2010-A SUBI Collection Account
all Advances, any Residual Value Surplus from the sale of a Matured Vehicle for which the
Servicer made a Sales Proceeds Advance and any Net Auction Proceeds from the disposition of
a Matured Vehicle at auction for which the Servicer was reimbursed during the related
Collection Period pursuant to Section 8.06; and

     (iii) on each Payment Date, pursuant to the related Payment Date Certificate, allocate
Available Funds on deposit in the 2010-A SUBI Collection Account with respect to the related
Collection Period and instruct the Indenture Trustee to make, no later than 11:00 a.m., New
York City time, or such other time as may be agreed to by the applicable

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parties, the following deposits and distributions in the following amounts and order of
priority:

     (A) to the Servicer the sum of outstanding (1) Sales Proceeds Advances (x) in
respect of 2010-A Vehicles that were sold during the related Collection Period
(other than a sale to the Servicer pursuant to Section 8.02(d)(ii)), and
(y) that have been outstanding as of the end of that Collection Period for
at least 90 days and (2) Monthly Payment Advances as to which the related Lessee has
made all or a portion of the advanced Monthly Payment or that have been outstanding
as of the end of the Collection Period for at least 90 days (collectively, the
“Payment Date Advance Reimbursement”);

     (B) to or on behalf of the Servicer, the Servicing Fee in respect of the
related Collection Period, together with any unpaid Servicing Fees in respect of one
or more prior Collection Periods; and

     (C) to the Note Distribution Account, the Reserve Account and Certificate
Distribution Account, as applicable, such distributions in the amounts and order of
priority as set forth in Sections 8.04(a) and 10.01 of the
Indenture.

     (b) Notwithstanding Section 2.07 of the Basic Servicing Agreement, the Servicer shall
remit into the SUBI Collection Account the amounts provided for in such Section received during a
Collection Period, by (subject to Section 8.03(c)) the close of business on the second
Business Day after identification.

     (c) Notwithstanding Sections 8.02(c) or 8.03(b) hereof, the Servicer shall be
permitted to retain the amounts provided for in such subsections received during a Collection
Period until the Business Day preceding the Payment Date on which such amounts are required to be
disbursed (or such other date as provided in the Public ABS Transaction referred to below), for so
long as no Servicer Default has occurred and is continuing, and the following requirements are met
(collectively, the “Monthly Remittance Condition”):

     (i) (A) NMAC (or its successors pursuant to Section 5.03(b) of the Basic
Servicing Agreement) is the Servicer, and (B) NMAC’s short-term unsecured debt obligations
are rated at least “Prime-1” by Moody’s and “A-1” by Standard & Poor’s (in each case, so
long as Moody’s or Standard & Poor’s is a Rating Agency);

     (ii) the Servicer obtains a Servicer Letter of Credit or certain other arrangements are
made and the Rating Agency Condition is satisfied;

     (iii) the Servicer otherwise satisfies each Rating Agency’s requirements; or

     (iv) if the Outstanding Amount of the Notes is reduced to zero and 100% of the
outstanding Trust Certificates are owned by the Trust, the Depositor, the Servicer (so long
as NMAC or an Affiliate is the Servicer) and their respective Affiliates.

     Pending deposit into the 2010-A SUBI Collection Account, SUBI Collections may be employed by
the Servicer at its own risk and for its own benefit and shall not be segregated from

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its own funds. Notwithstanding anything herein to the contrary, if a subsequent Public ABS
Transaction calls for changes in making monthly deposits to the related collection account, then,
if the Rating Agency Condition is satisfied, the Servicer will no longer be bound by the Monthly
Remittance Condition hereunder, and will instead be subject to the conditions to making monthly
deposits as required by the subsequent Public ABS Transaction.

     (d) Notwithstanding Sections 2.07(a) and 2.11(a) of the Basic Servicing
Agreement, the Servicer shall use commercially reasonable efforts in accordance with its Customary
Servicing Practices to (i) collect all payments required under each Lease and (ii) cause each
Lessee to make all payments required under its Lease, accompanied by an invoice, payment coupon or
electronic funds transfer notice bearing the lease number to which such payment relates.

     Section 8.04 Net Deposits. Notwithstanding anything to the contrary contained in this
2010-A Servicing Supplement, for so long as NMAC is the Servicer, the Servicer shall be permitted
to deposit into the 2010-A SUBI Collection Account only the net amount distributable to the Issuing
Entity, as holder of the 2010-A SUBI Certificate on the related Deposit Date. The Servicer shall,
however, account to the Issuing Entity, the Titling Trustee, the Trust Agent, the Indenture Trustee
(or any successor to the duties of the Indenture Trustee), the Owner Trustee and the Holders of the
Securities as if all of the deposits and distributions described herein were made individually.

     Section 8.05 Servicing Compensation.

     (a) As compensation for the performance of its obligations under the Servicing Agreement, the
Servicer shall be entitled to receive the Servicing Fee.

     (b) The Servicer shall also be entitled to additional servicing compensation with respect to
the 2010-A SUBI Assets in the form of, among other things, Administrative Charges to the extent not
required for the payment of insurance premiums, taxes, or similar charges allocable to the 2010-A
Leases; provided, however, that the Servicer may in its sole discretion waive any Administrative
Charges, in whole or in part, in connection with any delinquent payments due on a Lease.

     Section 8.06 Advances.

     (a) If during a Collection Period a Lessee makes a Lessee Partial Monthly Payment, the
Servicer shall make, by deposit into the 2010-A SUBI Collection Account on the related Deposit
Date, a Monthly Payment Advance, unless such Advance is not required to be made pursuant to
Section 8.06(c).

     (b) On each Deposit Date, the Servicer shall make, by deposit into the 2010-A SUBI Collection
Account, Sales Proceeds Advances, unless such Advance is not required to be made pursuant to
Section 8.06(c). After the Servicer has made a Sales Proceeds Advance with respect to a
Matured Vehicle, the Issuing Entity shall have no claim against or interest in such Matured Vehicle
or any Net Auction Proceeds resulting from the sale or other disposition thereof, except with
respect to any related Residual Value Surplus. If the Servicer shall sell or otherwise dispose of a
Matured Vehicle after having made a Sales Proceeds Advance, the Issuing Entity may retain

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all of such Sales Proceeds Advance, and the Servicer shall retain the related Net Auction
Proceeds up to the Securitization Value of the related 2010-A Lease, and shall deposit the Residual
Value Surplus, if any, into the 2010-A SUBI Collection Account. If the Net Auction Proceeds are
less than the Securitization Value of the related 2010-A Lease, the Servicer may deduct the
difference from SUBI Collections in respect of one or more future Collection Periods and retain
such amount as reimbursement for the outstanding portion of the related Sales Proceeds Advance. If
the Servicer has not sold a Matured Vehicle within six calendar months after it has made a Sales
Proceeds Advance, it shall be reimbursed for such Sales Proceeds Advance from the 2010-A SUBI
Collection Account. Within six months of receiving such reimbursement, if the related 2010-A
Vehicle has not been sold, the Servicer shall, if permitted by applicable law, cause such 2010-A
Vehicle to be sold at auction and shall remit the proceeds associated with such auction sale to the
2010-A SUBI Collection Account.

     (c) Notwithstanding anything to the contrary in the Servicing Agreement, the Servicer shall be
required to make an Advance only to the extent that it determines that such Advance will be
recoverable from future payments on or in respect of the related 2010-A Lease or 2010-A Vehicle.

     Section 8.07 Third Party Claims. In addition to the requirements set forth in
Section 2.14 of the Basic Servicing Agreement, the Servicer shall immediately notify the
Depositor (in the event that NMAC is not acting as Servicer) and the Indenture Trustee (or any
successor to the duties of the Indenture Trustee) upon learning of a claim or Lien of whatever kind
of a third party that would materially and adversely affect the interests of the Depositor or the
Issuing Entity with respect to the 2010-A SUBI Assets.

     Section 8.08 Contingent and Excess Liability Insurance Policy. So long as any
Securities are outstanding, the Servicer shall maintain and pay when due all premiums with respect
to, and the Servicer may not terminate or cause the termination of, the Contingent and Excess
Liability Insurance Policy unless (i) a replacement Insurance Policy is obtained that provides
coverage against third party claims that may be raised against the Titling Trust, the Titling
Trustee on behalf of the Titling Trust or the Issuing Entity in an amount at least equal to $1
million combined single limit per occurrence and excess coverage of at least $15 million combined
single limit each occurrence and in the aggregate, without limit on the number of occurrences in
any policy period (which Insurance Policy may be a blanket Insurance Policy covering the Servicer
and one or more of its Affiliates) and (ii) each Rating Agency receives prior written notice of
such termination and any replacement insurance policy. The obligations of the Servicer pursuant to
this Section shall survive any termination of the Servicer’s other obligations under the Servicing
Agreement until such time as claims can no longer be brought that would be covered by such
Insurance Policies, whether as a result of the expiration of relevant statutes of limitations or
otherwise. Notwithstanding the foregoing, the Servicer shall only be required to maintain the
Contingent and Excess Liability Insurance Policy that is required to be maintained by the Servicer
in the most recent Public ABS Transaction; provided, that if no such Contingent and Excess
Liability Insurance Policy is required to be maintained in the most recent Public ABS Transaction,
then no such Contingent and Excess Liability Insurance Policy shall be required hereunder.

     Section 8.09 Reporting by the Servicer; Delivery of Certain Documentation.

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     (a) On or prior to the Closing Date, and periodically thereafter as required in order to
update the contents thereof upon any changes in the matters certified therein, the Servicer shall
furnish to the Titling Trustee and the Related Beneficiary an Officer’s Certificate listing the
officers of the Servicer involved in, or responsible for, the servicing of the 2010-A Leases.

     (b) On the tenth calendar day of each month (or, if the 10th day is not a Business
Day, the next succeeding Business Day), the Servicer shall furnish to the Titling Trustee and each
Related Beneficiary a Settlement Statement, substantially in the form as set forth in Exhibit
A hereto for the immediately preceding Collection Period.

     Section 8.10 Accountants’ Attestation and Other Reports. On or before the last day of
the third month after the end of the fiscal year of the Servicer, beginning with June 30, 2011, the
Servicer shall cause a firm of independent certified public accountants, who may also render other
services to the Servicer or to its Affiliates, to deliver to the Issuing Entity, the Indenture
Trustee and each Rating Agency a report that such firm has audited the consolidated financial
statements of the Servicer in accordance with generally accepted auditing standards, that such firm
is independent of the Servicer within the meaning of the Code of Professional Ethics of the
American Institute of Certified Public Accountants (“AICPA”), and expressing such firm’s
opinion thereon. So long as the Depositor is filing any reports with respect to the Issuing Entity
under the Exchange Act, on or before the last day of the third month after the end of each fiscal
year of the Servicer, beginning with June 30, 2011, the Servicer shall cause a firm of independent
certified public accountants to furnish an attestation report to the Issuing Entity, Indenture
Trustee and each Rating Agency as to the Servicer’s Assessment Report of its compliance with the
applicable servicing criteria set forth under Item 1122 of Regulation AB during the Servicer’s
preceding fiscal year (or since the date of the issuance of the Notes in the case of the first such
statement). The form of attestation report may be replaced by any similar form using any standards
that are now or in the future in use by servicers of comparable assets or which otherwise comply
with any note, regulation, “no action” letter or similar guidelines promulgated by the Commission.

     Section 8.11 Servicer’s Assessment Report; Annual Servicer’s Compliance Statement;
Officer’s Certificate.

     (a) So long as the Depositor is filing any reports with respect to the Issuing Entity under
the Exchange Act, the Servicer shall deliver to the Owner Trustee, the Indenture Trustee and each
of the Rating Agencies, on or before the last day of the third month after the end of each fiscal
year of the Servicer, beginning with June 30, 2011, a report assessing the Servicer’s compliance
with the servicing criteria set forth in the relevant SEC regulations for asset-backed securities
transactions, including Items 1122 and 1123 of Regulation AB, as of and for the period ending the
end of each fiscal year of the Issuing Entity (the “Servicer’s Assessment Report”) and such
Servicer’s Assessment Report will identify any material instance of noncompliance.

     (b) The Servicer shall also deliver to the Owner Trustee, the Indenture Trustee and each of
the Rating Agencies, on or before the last day of the third month after the end of each fiscal year
of the Servicer, beginning with June 30, 2011, an Officer’s Certificate with respect to the prior
fiscal year of the Servicer ended such calendar year (or with respect to the initial Officer’s
Certificate, the period from the date of the initial issuance of the Notes to March 31,

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2011), stating that (i) a review of the activities of the Servicer during the preceding
12-month (or shorter) period and of its performance under this Agreement has been made under such
officer’s supervision and (ii) to the best of such officer’s knowledge, based on such review, the
Servicer has fulfilled all its obligations under this Agreement throughout such twelve-month (or
shorter) period in all material respects, or, if there has been a failure to fulfill any such
obligation, specifying each such failure known to such officer and the nature and status thereof.
Copies of such statements, certificates and reports may be obtained by the Noteholders or the
Certificateholder by a request in writing addressed to the Indenture Trustee or the Owner Trustee.

     (c) On or before the last day of the third month after the end of each fiscal year of the
Servicer, beginning with June 30, 2011, for as long as NMAC continues to act as the Servicer, the
Servicer shall deliver an Officer’s Certificate substantially in the form of Exhibit B with
respect to the Plans to each Rating Agency, the Owner Trustee and the Indenture Trustee.

     Section 8.12 Servicer Defaults; Termination of Servicer.

     (a) Each of the following acts or occurrences constitutes a “Servicer Default” under
the Servicing Agreement with respect to the 2010-A SUBIs:

     (i) the Servicer fails to deliver, or cause to be delivered, any required payment to
the Indenture Trustee for distribution to the Noteholders or to the Owner Trustee for
distribution to the Trust Certificateholders, which failure continues for five Business Days
after discovery of such failure by an officer of the Servicer or receipt by the Servicer of
written notice thereof from the Indenture Trustee, or Noteholders or Trust
Certificateholders, as applicable, evidencing at least a Majority Interest in the applicable
Securities (which for this purpose includes Trust Certificates held by the Issuing Entity,
the Depositor, the Servicer (so long as NMAC or an Affiliate is the Servicer) and their
respective Affiliates), voting together as a single class;

     (ii) the Servicer fails to duly observe or perform in any material respect any of its
covenants or agreements in the Servicing Agreement not otherwise covered in this Section
8.12(a), which failure materially and adversely affects the rights of a Holder of the
2010-A SUBI Certificate, the Noteholders or Trust Certificateholders, as applicable, and
which continues unremedied for 60 days (or for such longer period not in excess of 90 days
as may be reasonably necessary to remedy such failure; provided that (A) such failure is
capable of remedy within 90 days or less and (B) a Majority Interest in the applicable
Securities consents to such longer cure period) after receipt by the Servicer of written
notice thereof from the Indenture Trustee or the related holders evidencing at least a
Majority Interest in the applicable Securities or such default becomes known to the
Servicer;

     (iii) any representation, warranty, or statement of the Servicer made in the Servicing
Agreement, any other Basic Document to which the Servicer is a party or by which it is bound
or any certificate, report or other writing delivered pursuant to the Servicing Agreement
that proves to be incorrect in any material respect when made, which failure materially and
adversely affects the rights of a Holder of the 2010-A SUBI

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Certificate or the holders of the Notes, or the Trust Certificateholders, continues
unremedied for 60 days (or for such longer period not in excess of 90 days as may be
reasonably necessary to remedy such failure; provided that (A) such failure is capable of
remedy within 90 days or less and (B) a Majority Interest in the applicable Securities
consents to such longer cure period) after receipt by the Servicer of written notice thereof
from the Titling Trustee or the related holders evidencing a Majority Interest in the
applicable Securities, or such default becomes known to the Servicer;

     (iv) (A) the existence of any Proceeding in, or the entry of a decree or order for
relief by, a court or regulatory authority having jurisdiction over the Servicer in an
involuntary case under the federal bankruptcy laws, as now or hereafter in effect, (B) the
appointment of a receiver, liquidator, assignee, trustee, custodian, sequestrator, or other
similar official with respect to the Servicer or of any substantial part of its property or
(C) the ordering of the winding up or liquidation of the affairs of the Servicer, and in
each case, the continuance of any such Proceeding unstayed and in effect for a period of 90
consecutive days, or immediately upon entry of any decree or order; or

     (v) the Servicer (A) applies for or consents to the appointment of, or the taking of
possession by, a receiver, custodian, trustee, or liquidator of itself or of all or a
substantial part of its property, (B) is generally unable to pay its debts as they become
due, (C) makes a general assignment for the benefit of creditors, (D) commences a voluntary
case under the federal bankruptcy laws (E) is adjudicated to be bankrupt or insolvent, (F)
files a petition seeking to take advantage of any other law providing for the relief of
debtors, or (G) takes any corporate action for the purpose of effecting any of the
foregoing, and in each case, the continuance of any such event remains unstayed and in
effect for a period of 90 consecutive days;

provided, however, that notwithstanding any other provision of the Servicing
Agreement, (i) for the purpose of determining what constitutes a Servicer Default with respect to
the 2010-A SUBI, the provisions contained in this Section 8.12(a) shall replace in their
entirety the provisions contained in Section 4.01(a) of the Basic Servicing Agreement and
(ii) any Servicer Default with respect to the 2010-A SUBI shall not constitute a Servicing Default
with respect to any other Sub-Trust and any Servicing Default (as such term is defined in the Basic
Servicing Agreement) with respect to any other Sub-Trust shall constitute a Servicer Default (as
such term is defined in the Basic Servicing Agreement) only with respect to such Sub-Trust and not
with respect to the 2010-A SUBI.

     (b) Upon the occurrence of any Servicer Default, the Servicer, in addition to complying with
the notice requirements of Section 4.01(b) of the Basic Servicing Agreement (except that
references therein to Registered Pledgees shall mean each Registered Pledgee of the 2010-A SUBI
Certificate), shall provide to the Indenture Trustee and the Owner Trustee prompt notice of any (i)
Servicer Default or (ii) event or condition that, with the giving of notice or the passage of time,
or both, would become a Servicer Default, accompanied in each case by a description of the nature
of the default and the Servicer’s efforts to remedy the same.

     (c) In addition to the provisions of Section 4.01(c) of the Basic Servicing Agreement,
if a Servicer Default shall have occurred and is continuing with respect to the 2010-A SUBI, the

10

 

Titling Trustee, on behalf of the Titling Trust, shall, at the direction of the Required
Related Holders, by notice given to the Servicer, each Rating Agency, the Related Beneficiary and
the holders of the Rated Securities, terminate the rights and obligations of the Servicer under
this 2010-A Servicing Supplement in accordance with such Section. In the event that the Servicer is
removed as servicer with respect to servicing the 2010-A SUBI Assets, subject to the consent of the
Titling Trustee, the Required Related Holders shall appoint a successor Servicer. The successor
Servicer shall accept its appointment by a written assumption in a form acceptable to the Titling
Trustee. Such successor Servicer shall be approved by the Titling Trustee, such approval not to be
unreasonably withheld. Notwithstanding the provisions of Section 4.01(e) of the Basic
Servicing Agreement, with respect to any Servicer Default related to the 2010-A SUBI Assets, the
Titling Trustee, acting on the direction of the Required Related Holders, may waive any default of
the Servicer in the performance of its obligations under the Servicing Agreement and its
consequences with respect to the 2010-A SUBI and, upon any such waiver, such default shall cease to
exist and any Servicer Default arising therefrom shall be deemed to have been remedied for every
purpose of the Servicing Agreement. No such waiver shall extend to any subsequent or other default
or impair any right consequent thereto. For purposes of this Section, so long as the Lien of the
Indenture is in place, the Required Related Holders shall be deemed to be the Indenture Trustee (as
Registered Pledgee of the 2010-A SUBI Certificate), acting at the direction of the Required
Percentage of the Noteholders and thereafter, the Owner Trustee, acting at the direction of the
Required Percentage of the Trust Certificateholders (which for this purpose shall include Trust
Certificates owned by the Issuing Entity, the Depositor, the Servicer (so long as NMAC or an
Affiliate is the Servicer) and any of their respective Affiliates) until the Certificate Balance
has been reduced to zero.

     (d) If the Servicer is removed with respect to servicing the 2010-A SUBI Assets, the Servicer
shall be entitled to reimbursement for any outstanding Advances made pursuant to this 2010-A
Servicing Supplement, to the extent of the funds available therefor with respect to all Advances
made by the Servicer.

     Section 8.13 Servicer Representations and Warranties. Effective as of the date hereof,
the Servicer hereby reaffirms the representations and warranties set forth in Section
2.06(a) and Section 5.01 of the Basic Servicing Agreement, except that references to
“this Agreement” shall be deemed to refer to the Servicing Agreement, as such term is defined
herein.

     Section 8.14 Compliance with Regulation AB. The Servicer agrees to perform all duties
and obligations applicable to or required of the Issuing Entity set forth in Schedule A attached
hereto and made a part hereof in all respects and makes the representations and warranties therein
applicable to it.

     Section 8.15 Additional Covenants of Servicer.

     (a) If the aggregate Securitization Value of 2010-A Leases that have been extended and that
also constitute Hybrid Chattel Paper exceeds 9.0% of the outstanding aggregate Securitization Value
of the 2010-A Leases and related 2010-A Vehicles, and if such excess amount is not otherwise
reduced prior to the end of the second Collection Period following such discovery (or, if the
Servicer elects, an earlier date), the Servicer will purchase 2010-A Leases and the related 2010-A
Vehicles having a sufficient aggregate Securitization Value to reduce the

11

 

aggregate Securitization Value of 2010-A Leases that have been extended and that also
constitute Hybrid Chattel Paper to less than 9.0% of the then outstanding Securitization Value of
the 2010-A Leases and related 2010-A Vehicles.

     (b) Notwithstanding the forgoing, if (a) the Servicer or the Titling Trust employs processes
and procedures to convert tangible “records” evidencing modifications of 2010-A Leases that were
originated as “electronic chattel paper” to electronic “records” (as such terms are used in the
UCC) and (b) the Servicer and the Titling Trust (i) deliver to the Rating Agencies a written
opinion of counsel, in form and substance satisfactory to the Rating Agencies, to the effect that,
such processes and procedures so employed satisfy the requirements of the UCC such that the Titling
Trust or its agent has control of both the original electronic contract and the electronic
“records” that resulted from the conversion or (ii) otherwise satisfy the Rating Agencies that the
Servicer’s or the Titling Trust’s processes and procedures are sufficient to perfect the Titling
Trust’s or its agent’s security interest in the 2010-A Leases, then such “records” will no longer
constitute Hybrid Chattel Paper.

ARTICLE NINE

MISCELLANEOUS

     Section 9.01 Termination of Servicing Supplement. This 2010-A Servicing Supplement
shall terminate upon the earlier to occur of (i) the termination of the 2010-A SUBI or (ii) with
respect to the Servicer, but not as to the applicable successor Servicer, the resignation or
removal of the Servicer with respect to the 2010-A SUBI in accordance with the terms of the
Servicing Agreement. Any such termination hereunder shall effect a termination only with respect
to the 2010-A SUBI Assets and not as to Trust Assets allocated to any other Sub-Trust, and shall
not effect a termination of the Basic Servicing Agreement or any other supplement to the Basic
Servicing Agreement.

     Section 9.02 Governing Law. This 2010-A Servicing Supplement shall be governed by and
construed in accordance with the internal laws of the State of California, without regard to any
otherwise applicable principles of conflict of laws.

     Section 9.03 Amendment.

     (a) Notwithstanding any provision of the Basic Servicing Agreement, the Basic Servicing
Agreement, as supplemented by this 2010-A Servicing Supplement, to the extent that it relates
solely to the 2010-A SUBI and the 2010-A SUBI Assets, may be amended in accordance with this
Section 9.03.

     (b) Any term or provision of this 2010-A Servicing Supplement may be amended by the parties
hereto, without the consent of any other Person; provided that (i) either (A) any amendment
that materially and adversely affects the interests of the Noteholders shall require the consent of
Noteholders evidencing not less than a Majority Interest of the Notes voting together as a single
class or (B) such amendment shall not, as evidenced by an Officer’s Certificate of the Servicer
delivered to the Indenture Trustee, materially and adversely affect the interests of the
Noteholders, and (ii) any amendment that materially adversely affects the interests of the Trust

12

 

Certificateholder, Titling Trustee, the Delaware Trustee, the Indenture Trustee or the Owner
Trustee shall require the prior written consent of the Persons whose interests are adversely
affected; provided, further that an opinion of counsel is delivered to the Titling
Trustee to the effect that after such amendment, for federal income tax purposes, the Titling Trust
will not be treated as an association (or a publicly traded partnership) taxable as a corporation
and Notes will properly be characterized as indebtedness that is secured by the assets of the
Issuing Entity. An amendment shall be deemed not to materially and adversely affect the interests
of the Noteholders if the Rating Agency Condition is satisfied with respect to such amendment and
the Officer’s Certificate described in the preceding sentence is provided to the Indenture Trustee.
The consent of the Trust Certificateholder, the Delaware Trustee or the Owner Trustee shall be
deemed to have been given if the Servicer does not receive a written objection from such Person
within 10 Business Days after a written request for such consent shall have been given. The Titling
Trustee and the Indenture Trustee may, but shall not be obligated to, enter into any such amendment
that affects the Titling Trustee’s or the Indenture Trustee’s own rights, duties, liabilities or
immunities under this Agreement or otherwise.

     (c) Notwithstanding the foregoing, no amendment shall (i) reduce the interest rate or
principal amount of any Note, or change the due date of any installment of principal of or interest
in any Note, or the Redemption Price with respect thereto, without the consent of the Holder of
such Note or (ii) reduce the Outstanding Amount, the Holders of which are required to consent to
any matter without the consent of the Holders of at least a Majority Interest of the Notes which
were required to consent to such matter before giving effect to such.

     (d) Notwithstanding anything herein to the contrary, any term or provision of this 2010-A
Servicing Supplement may be amended by the parties hereto without the consent of any of the
Noteholders or any other Person to add, modify or eliminate any provisions as may be necessary or
advisable in order to comply with or obtain more favorable treatment under or with respect to any
law or regulation or any accounting rule or principle (whether now or in the future in effect); it
being a condition to any such amendment that the Rating Agency Condition shall have been satisfied
and the Officer’s Certificate described in Section 9.03(b)(i)(B) is delivered to the
Indenture Trustee.

     (e) Any term or provision of this 2010-A Servicing Supplement may also be amended by the
parties hereto without the consent of any Noteholder or any other Person to (i) change the formula
for determining the Reserve Account Requirement or (ii) add a supplemental required Reserve Account
amount and require immediate payments and distributions to the Reserve Account up to an amount
equal to the sum of the Reserve Account Requirement and such supplemental required Reserve Account
amount upon (A) satisfaction of the Rating Agency Condition, and (B) delivery by the Servicer to
the Indenture Trustee of an Officer’s Certificate stating that such amendment will not materially
and adversely affect the interests of any Noteholder.

     (f) It shall not be necessary for the consent of any Person pursuant to this Section for such
Person to approve the particular form of any proposed amendment, but it shall be sufficient if such
Person consents to the substance thereof.

13

 

     (g) Prior to the execution of any amendment to this 2010-A SUBI Servicing Supplement, the
Servicer shall provide each Rating Agency, the Trust Certificateholder, the Depositor, the Owner
Trustee and the Indenture Trustee with written notice of the substance of such amendment. No later
than 10 Business Days after the execution of any amendment to this 2010-A SUBI Servicing
Supplement, the Servicer shall furnish a copy of such amendment to each Rating Agency, the Trust
Certificateholder, Titling Trustee, the Delaware Trustee, the Indenture Trustee and the Owner
Trustee.

     (h) None of U.S. Bank, as trustee of NILT Trust and as Trust Agent, NILT, Inc., nor the
Indenture Trustee shall be under any obligation to ascertain whether a Rating Agency Condition has
been satisfied with respect to any amendment. When the Rating Agency Condition is satisfied with
respect to such amendment, the Servicer shall deliver to a Responsible Officer of U.S. Bank, NILT,
Inc. and the Indenture Trustee an Officer’s Certificate to that effect, and U.S. Bank National
Association. NILT, Inc. and the Indenture Trustee may conclusively rely upon the Officer’s
Certificate from the Servicer that a Rating Agency Condition has been satisfied with respect to
such amendment.

     Section 9.04 Relationship of this 2010-A Servicing Supplement to Other Trust
Documents. Unless the context otherwise requires, this 2010-A Servicing Supplement and the
other Trust Documents shall be interpreted so as to give full effect to all provisions hereof and
thereof. In the event of any actual conflict between the provisions of this 2010-A Servicing
Supplement and (i) the Titling Trust Agreement, with respect to the servicing of any Trust Assets,
the provisions of this 2010-A Servicing Supplement shall prevail and (ii) the Basic Servicing
Agreement, the provisions of this 2010-A Servicing Supplement shall control.

     Section 9.05 Binding Effect. The provisions of this 2010-A Servicing Supplement shall
be binding upon and inure to the benefit of the parties hereto and their permitted successors and
assigns, and all such provisions shall inure to the benefit of the Owner Trustee on behalf of the
Issuing Entity.

     Section 9.06 Table of Contents and Headings. The Table of Contents and Article and
Section headings herein are for convenience of reference only and shall not define or limit any of
the terms or provisions hereof.

     Section 9.07 Counterparts. This 2010-A Servicing Supplement may be executed in any
number of counterparts, each of which so executed and delivered shall be deemed to be an original,
but all of which counterparts shall together constitute but one and the same instrument.

     Section 9.08 Further Assurances. Each party will do such acts, and execute and deliver
to any other party such additional documents or instruments, as may be reasonably requested in
order to effect the purposes of this 2010-A Servicing Supplement and to better assure and confirm
unto the requesting party its rights, powers, and remedies hereunder.

     Section 9.09 Third-Party Beneficiaries. The Issuing Entity, each Holder of the 2010-A
SUBI, each Related Beneficiary, and each Registered Pledgee shall be third-party beneficiaries of
the Servicing Agreement. Except as otherwise provided in the Servicing Agreement, no other

14

 

Person shall have any rights hereunder. For purposes of the Servicing Agreement, this Section
replaces Section 6.12 of the Basic Servicing Agreement in its entirety.

     Section 9.10 No Waiver; Cumulative Remedies. No failure to exercise and no delay in
exercising, on the part of any party hereto, any right, remedy, power, or privilege hereunder shall
operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power,
or privilege hereunder preclude any other or further exercise thereof or the exercise of any other
right, remedy, power, or privilege. The rights, remedies, powers, and privileges herein provided
are cumulative and not exhaustive of any rights, remedies, powers, and privileges provided at law,
in equity or otherwise.

     Section 9.11 No Petition. Each of the parties hereto, by entering into this 2010-A
Servicing Supplement, in addition to provisions of Section 6.14 of the Basic Servicing
Agreement, hereby covenants and agrees that prior to the date that is one year and one day after
the date upon which all obligations under each Securitized Financing have been paid in full, it
will not institute against, or join any other Person in instituting against the Grantor, the
Depositor, the Titling Trustee, the Titling Trust, the Issuing Entity, any other Special Purpose
Affiliate or any Beneficiary, any bankruptcy, reorganization, arrangement, insolvency or
liquidation Proceeding or other Proceeding under any federal or state bankruptcy or similar law.
This Section shall survive the complete or partial termination of this 2010-A Servicing Supplement
and the complete or partial resignation or removal of the Servicer under the SUBI Trust Agreement,
the Basic Servicing Agreement or this 2010-A Servicing Supplement.

     Section 9.12 No Recourse.

     (a) It is expressly understood and agreed by the parties hereto that (i) this Agreement is
executed and delivered by U.S. Bank, not individually or personally, but solely as trustee of NILT
Trust, in the exercise of the powers and authority conferred and vested in it, (ii) each of the
representations, undertakings, and agreements herein made on the part of NILT Trust, is made and
intended not as personal representations, undertakings, and agreements by U.S. Bank, but is made
and intended for the purpose of binding only NILT Trust, (iii) nothing herein contained shall be
construed as creating any liability on U.S. Bank, individually or personally, to perform any
covenant, either expressed or implied, contained herein, all such liability, if any, being
expressly waived by the parties hereto and by any Person claiming by, through or under the parties
hereto, and (iv) under no circumstances shall U.S. Bank be personally liable for the payment of any
indebtedness or expenses of NILT Trust under this Agreement or any other related documents.

     (b) It is expressly understood and agreed by the parties hereto that (i) this Agreement is
executed and delivered by NILT, Inc., not individually or personally, but solely as Titling Trustee
of Nissan-Infiniti LT, in the exercise of the powers and authority conferred and vested in it, (ii)
each of the representations, undertakings, and agreements herein made on the part of
Nissan-Infiniti LT, is made and intended not as personal representations, undertakings, and
agreements by NILT, Inc., but is made and intended for the purpose of binding only Nissan-Infiniti
LT, (iii) nothing herein contained shall be construed as creating any liability on NILT, Inc.,
individually or personally, to perform any covenant, either expressed or implied, contained herein,
all such liability, if any, being expressly waived by the parties hereto and by any Person

15

 

claiming by, through or under the parties hereto, and (iv) under no circumstances shall NILT,
Inc. be personally liable for the payment of any indebtedness or expenses of Nissan-Infiniti LT
under this Agreement or any other related documents.

[Signature Pages to Follow]

16

 

     IN WITNESS WHEREOF, the parties hereto have caused this 2010-A Servicing Supplement to be duly
executed by their respective officers duly authorized as of the day and year first above written.

	 	 	 	 	 
	 	NISSAN-INFINITI LT, as Titling Trust

 	 
	 	By:  	NILT, INC., 	 
	 	 	as Titling Trustee 	 

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	NILT TRUST, as Grantor and UTI Beneficiary

 	 
	 	By:  	U.S. BANK NATIONAL ASSOCIATION, 
	 	 	as Trustee 	 

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	NISSAN MOTOR ACCEPTANCE

CORPORATION, as Servicer

 	 

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

S-1

 

	 	 	 	 	 

EXHIBIT A

FORM OF SETTLEMENT STATEMENT

(See Attached)

A-1

 

EXHIBIT B

FORM OF ANNUAL ERISA CERTIFICATION

(As required to be delivered on or before June 30 of each

calendar year beginning with June 30, 2011, pursuant to

Section 8.11 of the 2010-A Servicing Supplement)

NISSAN MOTOR ACCEPTANCE CORPORATION

 

NISSAN AUTO LEASE TRUST 2010-A

 

     The undersigned, duly authorized representative of Nissan Motor Acceptance Corporation
(“NMAC”), as Servicer, pursuant to the 2010-A SUBI Servicing Supplement to the Basic
Servicing Agreement dated as of May 25, 2010 (as amended and supplemented, or otherwise modified
and in effect from time to time, the “2010-A Servicing Supplement”), by and among
NISSAN-INFINITI LT, NMAC, as Servicer, and NILT TRUST, does hereby certify that:

	 	1.	 	The undersigned is an Authorized Officer of NMAC.
	 
	 	2.	 	As of the end of NMAC’s preceding fiscal year, with respect to Plans:
	 
	 	 	 	(a) [Plan assets exceed the present value of accrued benefits][The present
value of the accrued benefits exceeds plan assets] under each of the Plans
as of the close of the most recent Plan year, as required to be reported in
the financial statements for such Plan filed with the most recent Form 5500
for such Plan (the “Most Recent Plan Financial Statements”).
	 
	 	 	 	[Select from the following statements]
	 
	 	 	 	(b) [Neither NMAC nor any of its ERISA Affiliates (i) anticipates that the
value of the assets of any Plan it maintains would not be sufficient to
cover any Funding Target; or (ii) is contemplating benefit improvements with
respect to any Plan then maintained by any such entity or the establishment
of any new Plan, either of which would cause any such entity to maintain a
Plan with a Funding Target in excess of plan assets. The term “Funding
Target” has the meaning set forth in section 430(d) of the Internal Revenue
Code.][Describe any failure of the certifications in clauses (i) and (ii) to
be true.]
	 
	 	 	 	(c) [If all of the Plans (other than a multiemployer Plan) were terminated
(disregarding any Plans with surpluses), the unfunded

B-1

 

	 	 	 	liabilities at such date with respect to such Plans, their participants or
beneficiaries, and the PBGC, would not have exceeded [5%] of the
consolidated net worth of Nissan Motor Co., Ltd. or [25%] of the
consolidated net worth of Nissan North America, Inc. at such date.]
	 
	 	 	 	(d) [There are no unpaid minimum required contributions with respect to any
Plan as disclosed on the Most Recent Plan Financial Statements.]
	 
	 	 	 	(e) [Describe any facts that would cause the statements in clauses (b), (c)
or (d) to be incorrect.]

     Capitalized terms used but not defined herein are used as defined in the 2010-A Servicing
Supplement, and if not defined therein, as defined in the Agreement of Definitions, dated as of May
25, 2010, among Nissan Auto Lease Trust 2010-A, NILT Trust, as grantor and UTI beneficiary,
Nissan-Infiniti LT, as the titling trust, NMAC, in its individual capacity, as Servicer and as
administrative agent, Nissan Auto Leasing LLC II, NILT, Inc., as the titling trustee, Wilmington
Trust Company, as Delaware trustee and owner trustee, and U.S. Bank, as trust agent and indenture
trustee.

B-2

 

     IN WITNESS WHEREOF, each of the undersigned has duly executed this Certificate this ___ day
of                     .

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

B-3

 

	 	 	 	 	 

SCHEDULE A

REGULATION AB REPRESENTATIONS, WARRANTIES AND COVENANTS

PART I

DEFINED TERMS

     Section 1.01. As used in this Schedule A, the following terms shall have the following
meanings (such meanings to be equally applicable to both the singular and plural forms of the terms
defined); unless otherwise defined herein, terms used in this Schedule A that are defined in the
Agreement to which this Schedule A is attached shall have the same meanings herein as in the
Agreement:

     “Commission”: The United States Securities and Exchange Commission.

     “Regulation AB”: Subpart 229.1100 — Asset Backed Securities (Regulation AB), 17
C.F.R. §§229.1100-229.1123, as such may be amended from time to time, and subject to such
clarification and interpretation as has been provided by the Commission in the adopting release
(Asset-Backed Securities, Securities Act Release No. 33-8518, 70 Fed. Reg. 1,506, 1,531 (Jan. 7,
2005)) or by the staff of the Commission, or as may be provided by the Commission or its staff from
time to time.

     “Securities Act”: The Securities Act of 1933, as amended.

PART II

COMPLIANCE WITH REGULATION AB

     Section 2.01. Intent of the Parties; Reasonableness.

     Each of the Issuing Entity, the Indenture Trustee, the NILT Trust, NILT and the Servicer
acknowledges and agrees that the purpose of Part II of this Schedule A is to facilitate compliance
by the Issuing Entity and the Servicer with the provisions of Regulation AB and related rules and
regulations of the Commission.

     Each of the Issuing Entity, the Indenture Trustee, the NILT Trust, NILT and the Servicer
acknowledge that their respective obligations hereunder may be supplemented and modified as
reasonably necessary to be consistent with any amendments, interpretive advice or guidance,
convention or consensus among active participants in the asset-backed securities markets, in
respect of the requirements of Regulation AB. In addition, each of the Issuing Entity, the
Indenture Trustee, the NILT Trust, NILT and the Servicer shall comply with reasonable requests made
by the Issuing Entity for delivery of additional or different information as the Issuing Entity may
determine in good faith is necessary to comply with the provisions of Regulation AB, provided that
such information is available to such party without unreasonable effort or expense and within such
timeframe as may be reasonably requested.

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