Document:

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                                                                    EXHIBIT 10.6

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                             VW CREDIT LEASING, LTD.

                    TRANSACTION SUBI SUPPLEMENT 20[__]-[__]
                         TO ORIGINATION TRUST AGREEMENT

                                     Between

                                VW CREDIT, INC.,
                       As Settlor And Initial Beneficiary

                                       And

                         U.S. BANK NATIONAL ASSOCIATION,
             As Administrative Trustee, UTI Trustee And SUBI Trustee

                          Dated as of [__________], [____]

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                                    CONTENTS

<TABLE>
<CAPTION>
CLAUSE      SUBJECT MATTER                                                  PAGE
------      --------------                                                  ----
<S>         <C>                                                             <C>
PART X      DEFINITIONS; THIRD-PARTY BENEFICIARIES.......................     2
   Section 10.1  Definitions.............................................     2
   Section 10.2  Third-Party Beneficiaries...............................     3
PART XI     CREATION OF THE TRANSACTION SUBI.............................     3
   Section 11.1  Initial Creation of Transaction SUBI Portfolio and
                 Transaction SUBI........................................     3
   Section 11.2  Subsequent Removals From the Transaction SUBI
                 Portfolio...............................................     3
   Section 11.3  Issuance and Form of Transaction SUBI Certificate.......     4
   Section 11.4  Filings; Termination of Transaction SUBI; Related
                 Matters.................................................     4
   Section 11.5  Acceptance by SUBI Trustee..............................     5
   Section 11.6  Representations and Warranties of SUBI Trustee..........     5
   Section 11.7  Merger and Consolidation of Origination Trustees........     6
PART XII    ASSIGNMENT OF THE TRANSACTION SUBI...........................     6
   Section 12.1  Assignment..............................................     6
PART XIII   MISCELLANEOUS PROVISIONS.....................................     7
   Section 13.1  Amendment, Etc..........................................     7
   Section 13.2  Governing Law...........................................     8
   Section 13.3  Notices.................................................     8
   Section 13.4  Severability of Provisions..............................     9
   Section 13.5  Effect of Transaction SUBI Supplement on Origination
                 Trust Agreement and Transaction Documents...............     9
   Section 13.6  Each SUBI Separate; Assignees of SUBI...................     9
   Section 13.7  No Petition; Release of Claims..........................    10
   Section 13.8  Tax Matters.............................................    10
   Section 13.9  ENTIRE AGREEMENT........................................    11
   Section 13.10 Submission to Jurisdiction; Waiver of Jury Trial........    11
</TABLE>

                                       -i-

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                    TRANSACTION SUBI SUPPLEMENT 20[__]-[__]
                         TO ORIGINATION TRUST AGREEMENT

     THIS TRANSACTION SUBI SUPPLEMENT 20[__]-[__] TO ORIGINATION TRUST AGREEMENT
(as amended, modified or supplemented from time to time, the "Transaction SUBI
Supplement"), dated and effective as of [_____], [_____], is between VW CREDIT,
INC., a Delaware corporation ("VCI"; in its capacity as settlor, the "Settlor";
or in its capacity as initial beneficiary, the "Initial Beneficiary"), and U.S.
BANK NATIONAL ASSOCIATION, a national banking association, as successor to U.S.
Bank Trust National Association, as administrative trustee (in such capacity,
together with any successor or permitted assign, the "Administrative Trustee"),
as UTI trustee (in such capacity, together with any successor or permitted
assign, the "UTI Trustee") [and as trustee with respect to the Transaction SUBI]
(in such capacity, together with any successor or permitted assign, the "SUBI
Trustee"; together with the UTI Trustee, the Administrative Trustee and
Wilmington Trust Company, as Delaware Trustee (the "Delaware Trustee"), the
"Origination Trustees").

                                    RECITALS

     A. The Settlor, the UTI Trustee, the Administrative Trustee and the
Delaware Trustee have entered into that certain Trust Agreement dated as of June
2, 1999 (as modified, supplemented or amended from time to time, the
"Origination Trust Agreement") pursuant to which the Settlor formed VW Credit
Leasing, Ltd., a Delaware statutory trust (the "Origination Trust") for the
purpose of acting as agent and nominee owner of various Origination Trust Assets
in accordance with the Origination Trust Agreement.

     B. The Origination Trust and VCI, as servicer (in its capacity as servicer,
the "Servicer"), also have entered into that certain Servicing Agreement dated
as of June 22, 1999 and as amended and restated as of December 21, 2000 (as
modified, supplemented or amended from time to time, the "Servicing Agreement"),
which provides, among other things, for the servicing of the Origination Trust
Assets by the Servicer.

     C. The Origination Trust Agreement contemplates that from time to time the
UTI Trustee, on behalf of the Origination Trust and at the direction of the
Initial Beneficiary, will identify and allocate on the Origination Trust's books
and records certain Origination Trust Assets from the Undivided Trust Interest
to separate SUBI Portfolios and will create and issue Certificates to the
Initial Beneficiary representing separate special units of beneficial interest
in the Origination Trust or "SUBIs", the beneficiary or beneficiaries of which
will hold an exclusive 100% undivided beneficial ownership interest in the
related SUBI Portfolios, all as set forth in the Origination Trust Agreement.

     D. The parties hereto desire to supplement the terms of the Origination
Trust Agreement (i) to cause the UTI Trustee to identify and allocate
Origination Trust Assets to a SUBI Portfolio (the "Transaction SUBI Portfolio"),
which shall consist of Transaction Units consisting of Transaction Leases,
Transaction Vehicles and the associated Related Rights, (ii) to create and issue
to the Initial Beneficiary a SUBI Certificate (such SUBI Certificate, together
with any replacements thereof, the "Transaction SUBI Certificate") that will
evidence and represent the entire and exclusive beneficial ownership interest in
the related SUBI (the

                                      Transaction SUBI Supplement 20[__]-[__] to
                                                     Origination Trust Agreement

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"Transaction SUBI") and the interests in the SUBI Portfolio represented thereby,
(iii) to provide for the Origination Trust's continued holding of record title
to the Transaction SUBI Portfolio (including the Transaction Vehicles) as agent
and nominee for (and solely for the benefit of) the holder of the Transaction
SUBI Certificate, and (iv) to set forth the terms and conditions thereof.

     E. Concurrently herewith, (i) VCI and Volkswagen Auto Lease Underwritten
Funding, LLC, a Delaware limited liability company (the "Transferor"), are
entering into a SUBI Sale Agreement, pursuant to which the Transferor will
purchase the Transaction SUBI and (ii) the Transferor and Volkswagen Auto Lease
Trust 20[__]-[__], a Delaware statutory trust (the "Issuer"), are entering into
a SUBI Transfer Agreement, pursuant to which the Transferor will transfer the
Transaction SUBI to the Issuer.

     F. Concurrently herewith, the Issuer is entering into an asset-backed
financing transaction pursuant to, among other agreements, an Indenture dated as
of the date hereof (the "Indenture") between the Issuer and [_____], as
indenture trustee (the "Indenture Trustee"), pursuant to which, among other
things, the Issuer will issue notes and will grant a security interest to the
Indenture Trustee in certain of its assets, including the Transaction SUBI.

     G. Also concurrently herewith, the Origination Trust, the Servicer and the
SUBI Trustee are entering into that certain Transaction SUBI Supplement
20[__]-[__] to Servicing Agreement (as amended, modified or supplemented from
time to time, the "Transaction SUBI Servicing Supplement") pursuant to which,
among other things, the terms of the Servicing Agreement will be supplemented
insofar as they apply to the Transaction SUBI Portfolio, providing for specific
servicing obligations.

          NOW THEREFORE, in consideration of the premises and the mutual
covenants contained herein and in the Origination Trust Agreement, the parties
hereto agree to the following supplemental obligations with regard to the
Transaction SUBI Portfolio:

                                     PART X
                     DEFINITIONS; THIRD-PARTY BENEFICIARIES

     Section 10.1 Definitions.

     For all purposes of this Transaction SUBI Supplement, except as otherwise
expressly provided or unless the context otherwise requires, (a) unless
otherwise defined herein, all capitalized terms used herein shall have the
meanings attributed to them in Appendix A to the Indenture, (b) all capitalized
terms used herein which are not defined herein or in the Indenture and which are
defined in the Origination Trust Agreement shall have the meanings attributed to
them by the Origination Trust Agreement, (c) all references to words such as
"herein", "hereof" and the like shall refer to this Transaction SUBI Supplement
as a whole and not to any particular article or section within this Transaction
SUBI Supplement, (d) the term "include" and all variations thereon shall mean
"include without limitation", and (e) the term "or" shall include "and/or".

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     Section 10.2 Third-Party Beneficiaries.

     The holder and pledgees of the Transaction SUBI Certificate (including the
Issuer and the Indenture Trustee), and their respective successors, permitted
assigns and pledgees are third-party beneficiaries of the Origination Trust
Agreement and this Transaction SUBI Supplement, insofar as they apply to the
Transaction SUBI.

                                     PART XI
                        CREATION OF THE TRANSACTION SUBI

     Section 11.1 Initial Creation of Transaction SUBI Portfolio and Transaction
SUBI.

     (a) Pursuant to Section 4.2(a) of the Origination Trust Agreement, the
Initial Beneficiary hereby directs the UTI Trustee to identify and allocate or
cause to be identified and allocated on the books and records of the Origination
Trust a separate portfolio of SUBI Assets to be accounted for and held in trust
independently from all other Origination Trust Assets consisting of those Units
(each, a "Transaction SUBI Asset"), which shall include Leased Vehicles which
are identified on Schedule 1 to this Transaction SUBI Supplement, the
Transaction Leases relating thereto and all other Origination Trust Assets to
the extent related thereto (other than cash which does not constitute
Collections received on or after the Cut-Off Date). Based upon their
identification and allocation by the Initial Beneficiary pursuant to such
Schedule 1, the UTI Trustee hereby identifies and allocates as Transaction SUBI
Assets such portfolio of SUBI Assets to be held by the Origination Trust, as
agent and nominee (and solely for the benefit of) the holder of the Transaction
SUBI Certificate, each such SUBI Asset to be identified on the books and
accounts of the Origination Trust as belonging exclusively to the Transaction
SUBI Portfolio; provided that any Collections received on or prior to the
Cut-Off Date for any such Transaction Unit identified on Schedule 1 shall not be
allocated as Transaction SUBI Assets and shall not belong to the Transaction
SUBI Portfolio.

     (b) Also pursuant to Section 4.2(a) of the Origination Trust Agreement, the
UTI Trustee hereby creates a SUBI which shall be known as the "VW Credit Leasing
Ltd. Transaction Special Unit of Beneficial Interest 20[__]-[__] Certificate" or
"Transaction SUBI" and which shall represent an exclusive and specific 100%
beneficial ownership interest solely in the Transaction SUBI Portfolio and those
proceeds or assets derived from or earned by such Transaction SUBI Portfolio.

     (c) Pursuant to Section 4.2(d) of the Origination Trust Agreement (which
requires each holder of a SUBI to appoint for such SUBI a trustee), VCI has
appointed U.S. Bank National Association as the SUBI Trustee for the Transaction
SUBI and the Transaction SUBI Portfolio.

     Section 11.2 Subsequent Removals From the Transaction SUBI Portfolio.

     (a) Upon compliance by VCI with the provisions of Section 2.3(c) of the
SUBI Sale Agreement to repurchase the beneficial interest in any Transaction
Unit, such Unit shall be identified on a schedule to the Servicer Certificate
and reallocated from the Transaction SUBI to the Undivided Trust Interest on the
Payment Date that such reallocation payment is made. Upon the Payment Date of
any of the foregoing reallocations, the UTI Trustee and the SUBI Trustee

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will each make (or cause to be made) a notation in their respective records
reflecting the reallocation of such Origination Trust Assets as of the time
thereof.

     (b) Upon compliance by the Servicer with the provisions of Section 7.12 of
the Transaction SUBI Servicing Supplement to purchase the beneficial interest in
any Transaction Unit subject to a Postmaturity Term Extension, such Unit will be
identified on a schedule to the Servicer Certificate and reallocated from the
Transaction SUBI to the Undivided Trust Interest (if the Servicer is VCI) or to
an Other SUBI designated by the Servicer (if the Servicer is not VCI) on the
Payment Date that such reallocation payment is made. Upon the Payment Date of
any of the foregoing reallocations, the SUBI Trustee and the UTI Trustee or
Other SUBI Trustee, as applicable, will each make (or cause to be made) a
notation in their respective records reflecting the reallocation of such
Origination Trust Assets as of the time thereof.

     Section 11.3 Issuance and Form of Transaction SUBI Certificate.

     (a) The Transaction SUBI shall be represented by a Transaction SUBI
Certificate which shall represent an exclusive 100% beneficial ownership
interest in the Transaction SUBI and the Transaction SUBI Portfolio, as further
set forth herein. The Transaction SUBI Certificate shall be substantially in the
form of Exhibit A attached hereto, with such appropriate insertions, omissions,
substitutions and other variations as are required by this Transaction 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 Origination Trust Agreement, be directed by the Initial
Beneficiary. Any portion of the Transaction SUBI Certificate may be set forth on
the reverse thereof. The Transaction 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
Origination Trust Agreement, be determined by the Initial Beneficiary.

     (b) The Transaction SUBI Certificate shall contain an express written
release and subordination of any claim by any holder thereof to any proceeds or
assets of any Origination Trustee and to all of the Origination Trust Assets
other than those from time to time included within the Transaction SUBI
Portfolio.

     Section 11.4 Filings; Termination of Transaction SUBI; Related Matters.

     (a) The Settlor, the UTI Trustee and the SUBI Trustee will undertake all
other and future actions and activities as may be required by the Servicer
(pursuant to the Transaction SUBI Servicing Supplement) to perfect (or evidence)
and confirm the foregoing identification and allocation of SUBI Assets to the
Transaction SUBI Portfolio, 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 hereunder or
under any of the Transaction Documents and as are presented to them in final
execution form; provided, however, that in no event will the Settlor, the
Servicer or any Origination Trustee be required to take any action to indicate
any Person as lienholder or change the Person listed as owner on the Certificate
of Title for any Leased Vehicle allocated to the Transaction SUBI Portfolio
other than as provided in Section 11.4(c) below. The Settlor hereby irrevocably
makes and appoints each of the SUBI Trustee and the Servicer, and any of their
respective officers, employees or agents, as

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the true and lawful attorney-in-fact of the Settlor (which appointment is
coupled with an interest and is irrevocable) with power to sign on behalf of the
Settlor any security agreements, mortgages, assignments, affidavits, letters of
authority, notices or similar documents necessary or appropriate to be executed
or filed pursuant to this Section.

     (b) If all of the Transaction Units have been liquidated into cash and all
of such cash shall have been distributed in accordance with the Transaction SUBI
Servicing Supplement, then, at the direction of the holder of the Transaction
SUBI Certificate, the Transaction SUBI shall be terminated and the Transaction
SUBI Certificate shall be returned to the SUBI Trustee and canceled thereby.

     (c) Upon a written direction to the SUBI Trustee to revoke and terminate
the Transaction SUBI by the holder of the Transaction SUBI Certificate, the SUBI
Trustee shall (i) revoke the Transaction SUBI and (ii) promptly, at the expense
of the holder of the Transaction SUBI Certificate, distribute the Transaction
SUBI Assets to the holder of the Transaction SUBI Certificate; provided,
however, that the Transaction SUBI shall not be subject to such revocation prior
to the earlier of (A) the acceleration of the Notes under Section 5.2 of the
Indenture following an Indenture Default or (B) payment in full of principal and
accrued interest on the Notes.

     Section 11.5 Acceptance by SUBI Trustee.

     The SUBI Trustee shall have only the rights, powers and duties as set forth
herein and in the Origination Trust Agreement with respect to the Transaction
SUBI. In accordance with Section 3.1(d) of the Origination Trust Agreement, the
SUBI Trustee hereby accepts its appointment as SUBI Trustee with respect to the
Transaction SUBI hereunder and agrees to act as a trustee of the Origination
Trust for the benefit of the holder or holders of each Transaction SUBI
Certificate in accordance with the terms of this Transaction SUBI Supplement and
the Origination Trust Agreement. Except to execute and deliver the Transaction
Documents to which it is a party and to exercise and carry out or cause to be
exercised and carried out the rights, duties and obligations of the SUBI Trustee
hereunder and thereunder and except as otherwise authorized by the holder of the
Transaction SUBI Certificate, the SUBI Trustee shall have no power, right, duty
or authority to manage, control, possess, sell, lease, dispose of or in any
other manner deal in or with the Transaction SUBI Certificate, the Transaction
SUBI Portfolio or any Transaction SUBI Asset or any part thereof or interest
therein at any time conveyed to or vested in or registered or otherwise standing
in the name of the SUBI Trustee or the Origination Trust.

     Section 11.6 Representations and Warranties of SUBI Trustee.

     The SUBI Trustee hereby makes the following representations and warranties
on which the Settlor and Initial Beneficiary, each of their permitted assignees
and each holder of the Transaction SUBI Certificate may rely:

     (a) Organization and Good Standing. The SUBI Trustee is a national banking
association, duly organized, validly existing and in good standing under the
laws of the United States.

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     (b) Power and Authority. The SUBI Trustee has full power, authority and
right to execute, deliver and perform this Transaction SUBI Supplement and has
taken all necessary action to authorize the execution, delivery and performance
by it of this Transaction SUBI Supplement.

     (c) Due Execution. This Transaction SUBI Supplement has been duly executed
and delivered by the SUBI Trustee, and this Transaction SUBI Supplement and the
Origination Trust Agreement are legal, valid and binding instruments enforceable
against the SUBI Trustee in accordance with their respective terms, except as
such enforceability may be limited by bankruptcy, insolvency and other similar
laws relating to the enforcement of creditors' rights generally and to general
principles of equity.

     (d) No Conflict. Neither the execution and delivery of this Transaction
SUBI Supplement nor the consummation of the transactions herein contemplated,
nor compliance with the provisions hereof, will conflict with or result in a
breach of, or constitute a default (with notice or passage of time or both)
under, any provision of any law, governmental rule, regulation, judgment, decree
or order binding on the SUBI Trustee or the charter or bylaws of the SUBI
Trustee or any provision of any mortgage, indenture, contract, agreement or
other instrument to which the SUBI Trustee is a party or by which it is bound.
No consent, approval or authorization of, or filing, registration or
qualification with, or the giving of notice or the taking of any other action
with respect to, any federal or Delaware state Governmental Authority is
required on the part of the SUBI Trustee in connection with the execution,
delivery and performance by the SUBI Trustee of the Origination Trust Agreement,
the Servicing Agreement, the Transaction SUBI Servicing Supplement and this
Transaction SUBI Supplement.

     (e) Location of Records. The office where the SUBI Trustee keeps its
records concerning the transactions contemplated hereby is located at [209 S.
LaSalle Street, Suite 300, Chicago, Illinois 60604].

     Section 11.7 Merger and Consolidation of Origination Trustees. Each
Origination Trustee shall give notice to the Transferor and the Administrator
within a reasonable time after affecting any merger, consolidation, or other
transaction set forth in Section 6.5 of the Origination Trust Agreement.

                                    PART XII
                       ASSIGNMENT OF THE TRANSACTION SUBI

     Section 12.1 Assignment.

     The parties to this Transaction SUBI Supplement hereby acknowledge and
consent to the mortgage, pledge, assignment and grant of a security interest by
the Issuer to the Indenture Trustee pursuant to the Indenture for the benefit of
the Noteholders of all of the Issuer's rights hereunder. In addition, the
parties to this Transaction SUBI Supplement hereby acknowledge and agree that
for so long as the Notes are outstanding, the Indenture Trustee and the Issuer
acting jointly will have the right to exercise all rights, remedies, powers,
privileges and claims of the Issuer under this Transaction SUBI Supplement;
provided, however, that after the occurrence

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of an Indenture Default, the Indenture Trustee alone will have the right to
exercise such rights, remedies, powers, privileges and claims.

                                    PART XIII
                            MISCELLANEOUS PROVISIONS

     Section 13.1 Amendment, Etc.

     (a) Notwithstanding Section 9.1 of the Origination Trust Agreement, the
Origination Trust Agreement, as supplemented by this Transaction SUBI
Supplement, to the extent that it deals solely with the Transaction SUBI and the
Transaction SUBI Portfolio, may be amended in accordance with this Section 13.1.

     (b) Any term or provision of the Origination Trust Agreement or this
Transaction SUBI Supplement may be amended by the Initial Beneficiary, without
the consent of any other Person; provided that (i) any amendment that materially
and adversely affects the interests of the Noteholders shall require the consent
of Noteholders evidencing not less than a majority of the aggregate outstanding
principal amount of the Outstanding Notes, voting as a single class, and (ii)
any amendment that materially and adversely affects the interests of the
Origination Trustees, the Indenture Trustee or the Owner Trustee shall require
the prior written consent of the Persons whose interests are materially and
adversely affected. 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. The consent of the Certificateholders
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.

     (c) Notwithstanding the foregoing, no amendment shall (i) reduce the
interest rate or principal amount of any Note, or delay the Final Scheduled
Payment Date of any Note without the consent of the Holder of such Note, or (ii)
reduce the percentage of the aggregate outstanding principal amount of the
Outstanding Notes, the Holders of which are required to consent to any matter
without the consent of the Holders of at least the percentage of the aggregate
outstanding principal amount of the Outstanding 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 Transaction SUBI Supplement may be amended by the Initial Beneficiary
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.

     (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 Transaction SUBI
Supplement, the Initial Beneficiary shall provide each Rating Agency with
written notice of the substance of

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such amendment. No later than 10 Business Days after the execution of any
amendment to this Transaction SUBI Supplement, the Initial Beneficiary shall
furnish a copy of such amendment to each Rating Agency, the Origination
Trustees, the Owner Trustee and the Indenture Trustee.

     (g) Prior to the execution of any amendment to this Transaction SUBI
Supplement, the Owner Trustee, the Indenture Trustee and the Origination
Trustees shall be entitled to receive and conclusively rely upon an Opinion of
Counsel stating that the execution of such amendment is authorized or permitted
by the Origination Trust Agreement or this Transaction SUBI Supplement and that
all conditions precedent to the execution and delivery of such amendment have
been satisfied.

     Section 13.2 Governing Law.

     THIS TRANSACTION SUBI SUPPLEMENT SHALL BE CREATED UNDER AND GOVERNED BY AND
CONSTRUED UNDER THE INTERNAL LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO
ANY OTHERWISE APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS.

     Section 13.3 Notices.

The notice provisions of Section 9.3 of the Origination Trust Agreement shall
apply equally to this Transaction SUBI Supplement. All demands, notices and
communications under this Transaction SUBI Supplement or the Origination Trust
Agreement shall be in writing and shall be delivered or mailed by registered or
certified first class United States mail, postage prepaid, return receipt
requested, hand delivery, prepaid courier or telecopier and shall be deemed to
have been given upon actual receipt thereof, and (i) if to the SUBI Trustee, the
UTI Trustee or the Administrative Trustee, addressed to: U.S. Bank National
Association, [209 S. LaSalle Street, Suite 300, Chicago, Illinois 60604],
Attention: Corporate Trust Department; Facsimile: (312) 325-8905; (ii) if to the
Delaware Trustee, addressed to: [_____]; (iii) if to the Transferor, addressed
to: Volkswagen Auto Lease Underwritten Funding, LLC, 3800 Hamlin Road, Auburn
Hills, Michigan 48326, Attention: Treasurer; Facsimile: (248) 754-5360; with a
copy to: VW Credit, Inc., 3800 Hamlin Road, Auburn Hills, Michigan 48326,
Attention: General Counsel; Facsimile: (248) 754-5360; (iv) if to the Issuer,
addressed to: Volkswagen Auto Lease Trust 20[__]-[__], c/o The Bank of New York,
Corporate Trust Division, Barclay Street FL 8W, New York, New York 10286,
Attention: Corporate Trust Division; Facsimile: (212) 815-3883; with a copy to:
the Administrator, addressed to: VW Credit, Inc., 3800 Hamlin Road, Auburn
Hills, Michigan 48326, Attention: Treasurer; Facsimile: (248) 754-5360; and (v)
if to the Indenture Trustee, addressed to: [_____], [_____] or at such other
address as shall be designated by any such Person to the other parties hereto.

     Section 13.4 Severability of Provisions.

     If any one or more of the covenants, agreements, provisions or terms of
this Transaction SUBI Supplement 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
Transaction SUBI Supplement and shall in no way affect the validity or
enforceability of the other provisions of this Transaction SUBI Supplement or of
the Transaction SUBI Certificate or the rights of the holder thereof. To the
extent permitted by

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law, the parties hereto waive any provision of law that renders any provision of
this Transaction SUBI Supplement invalid or unenforceable in any respect.

     Section 13.5 Effect of Transaction SUBI Supplement on Origination Trust
Agreement and Transaction Documents.

     (a) Except as otherwise specifically provided herein: (i) the parties shall
continue to be bound by all provisions of the Origination Trust Agreement; and
(ii) the provisions set forth herein shall operate either as additions to or
modifications of the obligations of the parties under the Origination Trust
Agreement, as the context may require. In the event of any conflict between the
provisions of this Transaction SUBI Supplement and the Origination Trust
Agreement with respect to the Transaction SUBI, the provisions of this
Transaction SUBI Supplement shall prevail.

     (b) For purposes of determining the parties' obligations under this
Transaction SUBI Supplement with respect to the Transaction SUBI, general
references in the Origination Trust Agreement to: (i) the SUBI Portfolio shall
be deemed to refer more specifically to the Transaction SUBI Portfolio; (ii) the
SUBI Supplement shall be deemed to refer more specifically to this Transaction
SUBI Supplement; and (iii) the SUBI Servicing Agreement Supplement shall be
deemed to refer more specifically to the Transaction SUBI Servicing Supplement.

     Section 13.6 Each SUBI Separate; Assignees of SUBI.

     Each party hereto acknowledges and agrees (and each holder or pledgee of
the Transaction SUBI, by virtue of its acceptance of such Transaction SUBI or
pledge thereof acknowledges and agrees) that (a) the Transaction SUBI is a
separate series of the Origination Trust as provided in Section 3806(b)(2) of
Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code Section 3801 et seq.,
(b)(i) the debts, liabilities, obligations and expenses incurred, contracted for
or otherwise existing with respect to the Transaction SUBI or the Transaction
SUBI Portfolio shall be enforceable against the Transaction SUBI Portfolio only
and not against any Other SUBI Assets or the UTI Portfolio and (ii) the debts,
liabilities, obligations and expenses incurred, contracted for or otherwise
existing with respect to any Other SUBI, any Other SUBI Portfolio, the UTI or
the UTI Portfolio shall be enforceable against such Other SUBI Portfolio or the
UTI Portfolio only, as applicable, and not against the Transaction SUBI or any
Transaction SUBI Assets, (c) except to the extent required by law, UTI Assets or
SUBI Assets with respect to any SUBI (other than the Transaction SUBI) shall not
be subject to the claims, debts, liabilities, expenses or obligations arising
from or with respect to the Transaction SUBI, in respect of such claim, (d)(i)
no creditor or holder of a claim relating to the Transaction SUBI or the
Transaction SUBI Portfolio shall be entitled to maintain any action against or
recover any assets allocated to the UTI or the UTI Portfolio or any Other SUBI
or the assets allocated thereto, and (ii) no creditor or holder of a claim
relating to the UTI, the UTI Portfolio or any SUBI other than the Transaction
SUBI or any SUBI Assets other than the Transaction SUBI Portfolio shall be
entitled to maintain any action against or recover any assets allocated to the
Transaction SUBI, and (e) any purchaser, assignee or pledgee of an interest in
the Transaction SUBI or the Transaction SUBI Certificate, must, prior to or
contemporaneously with the grant of any such assignment, pledge or security
interest, (i) give to the Origination Trust a non-petition covenant
substantially similar to that set forth in Section 6.9 of the Origination Trust
Agreement, and (ii)

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execute an agreement for the benefit of each holder, assignee or pledgee from
time to time of the UTI or UTI Certificate and any Other SUBI or Other SUBI
Certificate to release all claims to the assets of the Origination Trust
allocated to the UTI and each Other SUBI Portfolio and, in the event that such
release is not given effect, to fully subordinate all claims it may be deemed to
have against the assets of the Origination Trust allocated to the UTI Portfolio
and each Other SUBI Portfolio.

     Section 13.7 No Petition; Release of Claims.

     With respect to each Bankruptcy Remote Party, each party hereto (and each
holder and pledgee of the Transaction SUBI, by virtue of its acceptance of such
SUBI or pledge thereof) agrees that, prior to the date which is one year and one
day after payment in full of all obligations under each Financing, (i) no party
hereto shall authorize such Bankruptcy Remote Party to commence a voluntary
winding-up or other voluntary case or other proceeding seeking liquidation,
reorganization or other relief with respect to such Bankruptcy Remote Party or
its debts under any bankruptcy, insolvency or other similar law now or hereafter
in effect in any jurisdiction or seeking the appointment of an administrator, a
trustee, receiver, liquidator, custodian or other similar official with respect
to such Bankruptcy Remote Party or any substantial part of its property or to
consent to any such relief or to the appointment of or taking possession by any
such official in an involuntary case or other proceeding commenced against such
Bankruptcy Remote Party, or to make a general assignment for the benefit of any
party hereto or any other creditor of such Bankruptcy Remote Party, and (ii)
none of the parties hereto shall commence or join with any other Person in
commencing any proceeding against such Bankruptcy Remote Party under any
bankruptcy, reorganization, liquidation or insolvency law or statute now or
hereafter in effect in any jurisdiction.

     Section 13.8 Tax Matters.

     Each of the Initial Beneficiary, the UTI Trustee, the Delaware Trustee, the
SUBI Trustee and any holder or pledgee of the Transaction SUBI (including the
Issuer and the Indenture Trustee, respectively) agree that for federal, state
and local income, franchise and/or value added tax purposes it shall not treat
this Transaction SUBI Supplement as creating or constituting a trust,
partnership, association taxable as a corporation or any other type of separate
entity (and will report for such purposes in a consistent manner therewith).
Instead, each of such parties agrees, and will consistently report, that for
federal, state and local income, franchise and/or value added tax purposes the
Origination Trust holds the Transaction SUBI Portfolio and each asset therein as
a mere agent of the Issuer. Each such party further agrees that the Origination
Trust is acting as holder of record title to the Transaction SUBI Portfolio,
including the Transaction Vehicles, solely for the benefit of, and as agent and
nominee of, the Issuer, and shall not hold itself out or act in a manner
inconsistent with it acting merely as agent and nominee.

     Section 13.9 ENTIRE AGREEMENT.

     THIS TRANSACTION SUBI SUPPLEMENT AND THE OTHER TRANSACTION DOCUMENTS
EXECUTED AND DELIVERED IN CONNECTION HEREWITH REPRESENT THE FINAL AGREEMENT
BETWEEN THE PARTIES HERETO AND THERETO AND MAY NOT BE CONTRADICTED BY EVIDENCE
OF PRIOR,

                                       10

<PAGE>

CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO
UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

     Section 13.10 Submission to Jurisdiction; Waiver of Jury Trial.

     Each of the parties hereto hereby irrevocably and unconditionally:

     (a) submits for itself and its property in any legal action or proceeding
relating to this Transaction SUBI Supplement or any documents executed and
delivered in connection herewith, or for recognition and enforcement of any
judgment in respect thereof, to the nonexclusive general jurisdiction of the
courts of the State of New York, the courts of the United States of America for
the Southern District of New York and appellate courts from any thereof;

     (b) consents that any such action or proceeding may be brought in such
courts and waives any objection that it may now or hereafter have to the venue
of such action or proceeding in any such court or that such action or proceeding
was brought in an inconvenient court and agrees not to plead or claim the same;

     (c) agrees that service of process in any such action or proceeding may be
effected by mailing a copy thereof by registered or certified mail (or any
substantially similar form of mail), postage prepaid, to such Person at its
address determined in accordance with Section 13.3 of this Transaction SUBI
Supplement; and

     (d) agrees that nothing herein shall affect the right to effect service of
process in any other manner permitted by law or shall limit the right to sue in
any other jurisdiction.

                            [SIGNATURES ON NEXT PAGE]

                                       11

<PAGE>

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

                                        VW CREDIT, INC.,
                                        as Settlor and Initial Beneficiary

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                        U.S. BANK NATIONAL ASSOCIATION,
                                        as Administrative Trustee, UTI Trustee
                                        [and SUBI Trustee]

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                       S-1

<PAGE>

                                                                      SCHEDULE 1
                                                     Transaction SUBI Supplement
                                                                     20[__]-[__]

                        DESCRIPTION OF TRANSACTION UNITS

               [delivered electronically to the Indenture Trustee]

                                      Transaction SUBI Supplement 20[__]-[__] to
                                                     Origination Trust Agreement

                                       I-1

<PAGE>

                                                                       EXHIBIT A

                      FORM OF TRANSACTION SUBI CERTIFICATE

                             VW CREDIT LEASING, LTD.

          TRANSACTION SPECIAL UNIT OF BENEFICIAL INTEREST 20[__]-[__]
                                   CERTIFICATE

     evidencing an exclusive undivided 100% beneficial ownership interest in all
     Transaction SUBI Assets (as defined below).

     (This Certificate does not represent an obligation of, or an interest in,
     VW Credit, Inc. or any of its affiliates (other than the Origination Trust
     (as defined below)).)

Number Transaction SUBI-20[__]-[__]

     THIS CERTIFIES THAT ______________________________________ is the
registered owner of a 100% nonassessable, fully-paid, exclusive undivided
interest in the Transaction SUBI Portfolio (such interest, a "Transaction SUBI")
of VW Credit Leasing, Ltd., a Delaware statutory trust (the "Origination Trust")
formed by VW Credit, Inc., a Delaware corporation, as settlor ("VCI" or, in its
capacity as settlor thereunder, and, together with any successor or assign, the
"Settlor"), Wilmington Trust Company, as Delaware trustee (the "Delaware
Trustee"), and U.S. Bank National Association (f/k/a U.S. Bank Trust National
Association), as administrative trustee (the "Administrative Trustee") and UTI
trustee (the "UTI Trustee"). The Origination Trust was created pursuant to a
Trust Agreement dated as of June 2, 1999 (as modified, supplemented, or amended
from time to time, the "Agreement") among VCI as the Settlor and as the sole
initial beneficiary (in such capacity, and, together with any successor or
permitted assign, the "Initial Beneficiary"), the UTI Trustee, the
Administrative Trustee and the Delaware Trustee, as supplemented for purposes
hereof by that certain Transaction SUBI Supplement 20[__]-[__] to Origination
Trust Agreement dated as of [_____], [_____] (as amended, modified or
supplemented from time to time, the "Transaction SUBI Supplement") among the
Settlor, the Initial Beneficiary, the UTI Trustee, the Administrative Trustee
and U.S. Bank National Association, as the SUBI Trustee (the "SUBI Trustee";
together with the UTI Trustee, the Administrative Trustee and the Delaware
Trustee, the "Origination Trustees"). To the extent not otherwise defined
herein, the capitalized terms herein have the meanings set forth in the
Agreement.

     This Certificate is the duly authorized certificate issued under the
Agreement and the Transaction SUBI Supplement and designated as "VW Credit
Leasing, Ltd. Transaction Special Unit of Beneficial Interest 20[__]-[__]
Certificate" (the "Transaction SUBI Certificate"). This Transaction SUBI
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement and the Transaction SUBI Supplement, to which
Agreement the holder of this Transaction SUBI Certificate by virtue of the
acceptance hereof assents and by which such holder is bound. Also to be issued
under the Agreement are various other series of Certificates, the first
designated as "VW Credit Leasing, Ltd. Undivided Trust Interest Certificates"
(the "Undivided Trust Interest Certificates"), and the others each designated as

                                      Transaction SUBI Supplement 20[__]-[__] to
                                                     Origination Trust Agreement

                                       A-1

<PAGE>

"VW Credit Leasing, Ltd. Special Unit of Beneficial Interest Certificates" (the
"SUBI Certificates" and, together with the Undivided Trust Interest
Certificates, the "Certificates"). The Undivided Trust Interest Certificates,
taken together, evidence an exclusive undivided interest in the assets of the
Origination Trust, other than SUBI Assets (each as defined in the Agreement);
each other series of SUBI Certificates, taken together, will evidence an
exclusive undivided interest in a separate SUBI Portfolio other than the
Transaction SUBI Portfolio.

     The Certificates do not represent an obligation of, or an interest in, the
Settlor, any Origination Trustee or any of their respective affiliates (other
than the Origination Trust). A copy of the Agreement may be examined during
normal business hours at the principal office of the Settlor or any Origination
Trustee, and at such other places, if any, designated by the Settlor or any
Origination Trustee, by the holder hereof upon request.

     By accepting this Certificate, the holder hereof releases (or fully
subordinates, but only to the extent such release is not given effect) any claim
in respect of this Certificate to any proceeds or assets of the Origination
Trust and to all of the assets of the Origination Trust other than those from
time to time included within the Transaction SUBI Portfolio (the "Transaction
SUBI Assets") and those proceeds or assets derived from or earned by the
Transaction SUBI Assets.

     Prior to due presentation of this Certificate for registration of a
permitted transfer, the Origination Trustees, the certificate registrar and any
of their respective agents may treat the person or entity in whose name this
Certificate is registered as the owner hereof for the purpose of receiving
distributions and for all other purposes, and, except as provided for in the
Agreement, neither the Origination Trustees, the certificate registrar nor any
such agent shall be affected by any notice to the contrary.

     The holder of this Certificate covenants and agrees that prior to the date
which is one year and one day after the date upon which all obligations under
each Financing have been paid in full, it will not institute against, or join
any other Person in instituting against, the Origination Trust, the Initial
Beneficiary, any Special Purpose Entity, or any general partner of any Special
Purpose Entity that is a partnership, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceeding or other proceedings under any
federal or state bankruptcy or similar law.

     No bankruptcy, reorganization, arrangement, insolvency or liquidation
proceeding or other proceedings under any federal or state bankruptcy,
insolvency or similar law shall be instituted by the Origination Trust without
the unanimous consent of all Origination Trustees and Certificateholders
hereunder. A SUBI Trustee shall not so consent unless directed to do so by the
holder of the applicable SUBI, and the Delaware Trustee shall not so consent
unless directed to do so by all of the Certificateholders.

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

                                       A-2

<PAGE>

     IN WITNESS WHEREOF, the Administrative Trustee and the SUBI Trustee on
behalf of the Origination Trust and not in their individual capacities have
caused this Transaction SUBI Certificate to be duly executed.

Dated:                                  VW CREDIT LEASING, LTD.
       ------------------
                                        By: U.S. BANK NATIONAL ASSOCIATION,
                                            not in its individual capacity but
                                            solely as Administrative Trustee and
                                            SUBI Trustee

                                        By:
                                            ------------------------------------
                                            Authorized Officer

                                       A-3<PAGE>

                                                                    EXHIBIT 10.7

                                                                [EXECUTION COPY]

                            ------------------------

                             VW CREDIT LEASING, LTD.

                                       AND

                                 VW CREDIT, INC.

                    AMENDED AND RESTATED SERVICING AGREEMENT

                          Dated As of December 21, 2000

                            ------------------------

<PAGE>

                                TABLE OF CONTENTS

                                                                            PAGE

RECITALS           ............................................................1
ARTICLE I          DEFINITIONS

     Section 1.1.     Definitions..............................................1

ARTICLE II         ADMINISTRATION AND SERVICING OF USER LEASES

     Section 2.1.     Servicer to Act as Servicer..............................5
     Section 2.2.     Collection of Monthly Lease Payments and Remittances;
                      Application of Proceeds..................................6
     Section 2.3.     Records..................................................7
     Section 2.4.     Collection and Application of Security Deposits..........7
     Section 2.5.     Servicing Compensation; Fees, Costs and Expenses.........8
     Section 2.6.     Enforcement of User Leases; Repossession and Sale
                      of Leased Vehicles.......................................8
     Section 2.7.     Servicer to Act on Behalf of Trust.......................9
     Section 2.8.     Third Party Claims.......................................9
     Section 2.9.     Insurance Policies......................................10
     Section 2.10.    Servicer Not to Resign; Assignment......................10

ARTICLE III        SERVICER TERMINATION WITH RESPECT TO UTI

     Section 3.1.     Termination of Servicer By UTI Holder With Respect
                      to UTI..................................................11

ARTICLE IV         MISCELLANEOUS

     Section 4.1.     Termination of Agreement................................11
     Section 4.2.     Amendment...............................................11
     Section 4.3.     Governing Law...........................................12
     Section 4.4.     Notices.................................................12
     Section 4.5.     Severability............................................12
     Section 4.6.     Binding Effect..........................................12
     Section 4.7.     Article and Section Headings............................13
     Section 4.8.     Execution in Counterparts...............................13
     Section 4.9.     Rights Cumulative.......................................13
     Section 4.10.    Further Assurances......................................13
     Section 4.11.    Third-Party Beneficiaries...............................13
     Section 4.12.    No Waiver...............................................13
     Section 4.13.    Non-Petition Covenant...................................14
     Section 4.14.    Series Liabilities......................................14
     Section 4.15.    Limitation of Liability.................................14

                                        i

<PAGE>
                    AMENDED AND RESTATED SERVICING AGREEMENT

     AMENDED AND RESTATED SERVICING AGREEMENT, dated as of December 21, 2000 (as
it may be further amended, supplemented or modified, the "Agreement"), between
VW CREDIT LEASING, LTD., a Delaware business trust (the "Trust"), and VW CREDIT,
INC., a Delaware corporation (hereinafter, together with its successors and
assigns, "VCI" or, in its capacity as servicer hereunder, the "Servicer").

                                    RECITALS

     A. This Agreement is being entered into to amend and restate that certain
Servicing Agreement, dated as of June 22, 1999, between the Trust and VCI.

     B. VCI, as Settlor and Initial Beneficiary (the "Settlor" and the "Initial
Beneficiary", respectively), U.S. Bank Trust National Association, a national
banking association with its principal place of business in Chicago, Illinois,
as UTI Trustee and Administrative Trustee (the "UTI Trustee" and the
"Administrative Trustee", respectively), and Wilmington Trust Company, as
Delaware Trustee (the "Delaware Trustee"), have entered into that certain Trust
Agreement dated as of June 2, 1999 (the same, as amended, supplemented or
modified and in effect from time to time, the "Trust Agreement"), pursuant to
which VCI and the Trustees formed the Trust for the purpose of taking
assignments and conveyances of and holding and dealing in various Trust Assets
in accordance with the Trust Agreement.

     C. The Trustees, on behalf of the Trust and at the direction of VCI, which
also is the initial beneficiary of the Trust, intend to create and issue from
time to time to or upon the order of VCI various special units of beneficial
interest in the Trust ("SUBIs"), whose beneficiaries generally will be entitled
to certain specified components of the net cash flow arising from designated
portfolios of Trust Assets owned by the Trust, and which SUBIs may be used in
connection with various Financings (as defined in the Trust Agreement).

     D. The parties desire to enter into this Agreement to provide for, among
other things, the servicing of the Trust Assets (including those evidenced by
the SUBIs) by the Servicer.

     E. The parties acknowledge that, in connection with one or more Financings,
it may be necessary or desirable to enter into supplemental agreements hereto,
including one or more SUBI Servicing Agreement Supplements, providing for
further specific servicing obligations with respect to each Financing.

     NOW THEREFORE, in consideration of the premises and the mutual covenants
herein contained, the parties hereto agree as follows:

                                                             Servicing Agreement

<PAGE>

                                   ARTICLE I.
                                   DEFINITIONS

     SECTION 1.1. DEFINITIONS.

     For all purposes of this Agreement, except as otherwise expressly provided
or unless the context otherwise requires, (a) unless otherwise defined herein,
all capitalized terms shall have the meanings attributed to them in the Trust
Agreement, (b) the capitalized terms defined in this Article have the meanings
assigned to them in this Article and include (i) all genders and (ii) the plural
as well as the singular, (c) all references to words such as "herein", "hereof"
and the like shall refer to this Agreement as whole and not to any particular
article or section within this Agreement, (d) the term "include" and all
variations thereon shall mean "include without limitation", (e) the term "or"
shall include "and/or", and (f) any reference herein to a "Trustee, acting on
behalf of the Trust," or words of similar import, shall be deemed to mean the
applicable Trustee, acting on behalf of the Trust and all applicable
beneficiaries of the Trust.

     "Administrative Trustee" has the meaning set forth in the Recitals.

     "Business Trust Statute" has the meaning set forth in the Trust Agreement.

     "Certificate of Title" has the meaning set forth in the Trust Agreement.

     "Charged-off Lease" means a User Lease which has been written off by the
Servicer in accordance with its Customary Servicing Practices for writing off
lease contracts.

     "Collections" means all monthly lease payments on any User Lease,
Liquidation Proceeds in respect of any Vehicle and any other payments, receipts
or Recoveries (including any residual value insurance proceeds and other
insurance proceeds) by or on behalf of any End User or otherwise with respect to
any User Lease or Leased Vehicle other than (i) Supplemental Servicing Fees,
(ii) payments allocable to sales, use or other taxes (which shall be collected
by the Servicer and remitted to the applicable governmental authority or used to
reimburse the Servicer for payment of such amounts in accordance with Customary
Servicing Practices), (iii) payments allocable to premiums for force-placed
insurance policies purchased by the Servicer on behalf of any End User (which
shall be collected by the Servicer and remitted to the applicable insurance
company (or if such amounts were paid by the Servicer, to the Servicer) in
accordance with the Customary Servicing Practices), (iv) payments allocable to
fines for parking violations incurred by any End User but assessed to the Trust
as the owner of the related Leased Vehicle (which shall be collected by the
Servicer and remitted to the applicable governmental authority (or if such
amounts were paid by the Servicer, to the Servicer) in accordance with Customary
Servicing Practices), and (v) rebates of insurance premiums with respect to the
cancellation of any insurance policy.

     "Customary Servicing Practices" means the customary practices of the
Servicer with respect to Leased Vehicles and User Leases held by the Origination
Trust, without regard to whether such Leased Vehicles and User Leases have been
identified and allocated into a SUBI Portfolio, as such practices may be amended
from time to time.

     "Dealer" has the meaning set forth in the Trust Agreement.

                                       2                     Servicing Agreement

<PAGE>

     "Dealer Agreement" means a Dealer Agreement as amended, modified or
supplemented from time to time, entered into between VCI or the Trust and a
Dealer providing for the Dealer, (i) to arrange retail vehicle leases that will
be entered into by the Trustee, or (ii) acting as the originator of retail
vehicle leases that will be acquired by the Trust, and in accordance with which,
the title to the related leased vehicles will in either case be acquired by the
Trust at prices determined as provided for in such agreement.

     "Delaware Trustee" has the meaning set forth in the Recitals.

     "End User" means each Person who is the lessee under a User Lease.

     "Filings" has the meaning set forth in Section 2.7.

     "Financing" has the meaning set forth in the Trust Agreement.

     "Initial Beneficiary" has the meaning set forth in the Recitals.

     "Leased Vehicles" has the meaning set forth in the Trust Agreement.

     "Liquidation Proceeds" means, with respect to any Leased Vehicle, the
proceeds received by the Servicer in connection with the sale or other
disposition of such Leased Vehicle, net of any and all out-of-pocket costs and
expenses incurred by the Servicer in connection with such sale or other
disposition, including without limitation, all repossession, auction, painting,
repair, legal and any and all other similar liquidation, collection and
refurbishment costs and expenses.

     "Maturity Date" means, with respect to any User Lease, the date on which
such User Lease is scheduled to terminate, as such date may be extended pursuant
to Section 2.2(b)(ii).

     "Obligee" means each Person who is the lessor under a User Lease or the
assignee thereof, including the Trust.

     "Person" has the meaning set forth in the Trust Agreement.

     "Purchase Price" means, for any Leased Vehicle and related User Lease, the
amount paid by or on behalf of the Trust for such Leased Vehicle and related
User Lease.

     "Recoveries" means, with respect to any User Lease or Leased Vehicle, the
proceeds (other than Liquidation Proceeds) received by the Servicer after any
default under the related User Lease, net of any and all out-of-pocket costs and
expenses incurred by the Servicer in connection with such defaulted User Lease,
including without limitation, all repossession, auction, painting, repair,
legal, bankruptcy and any and all other similar liquidation, collection and
refurbishment costs and expenses.

     "Registrar of Titles" has the meaning set forth in the Trust Agreement.

     "Security Deposit" means, with respect to any User Lease, the refundable
security deposit (if any) specified in such User Lease.

                                       3                     Servicing Agreement

<PAGE>

     "Servicer" has the meaning set forth in the preamble.

     "Servicing Fee" has the meaning specified in Section 2.5.

     "Settlor" has the meaning set forth in the Recitals.

     "SUBI" has the meaning set forth in the Recitals.

     "SUBI Asset" has the meaning set forth in the Trust Agreement.

     "SUBI Portfolio" has the meaning set forth in the Trust Agreement.

     "SUBI Servicing Agreement Supplement" means any supplement or amendment to
this Agreement entered into from time to time to accommodate the creation and
issuance of a particular SUBI and to specify any special responsibilities or
obligations that the Servicer may be required to undertake in connection
therewith.

     "SUBI Supplement" means any supplement or amendment to the Trust Agreement
executed from time to time in connection with the creation and issuance of a
particular SUBI.

     "SUBI Trustee" means, as to each SUBI, the separate trustee appointed by
the Initial Beneficiary for each SUBI.

     "Supplemental Servicing Fees" means any late fees, NSF check fees,
disposition fees, purchase option fees and other administration fees or similar
charges (including any fees payable in connection with or pursuant to an
extension agreement) paid by any End User pursuant to a User Lease.

     "Trust" has the meaning set forth in the preamble.

     "Trust Agreement" has the meaning set forth in the Recitals.

     "Trust Asset" means any asset of any type owned by the Trust.

     "Trustees" means the Delaware Trustee, the UTI Trustee, the Administrative
Trustee and any SUBI Trustee.

     "User Lease" has the meaning set forth in the Trust Agreement.

     "UTI" means the undivided trust interest in the Trust created pursuant to
the Trust Agreement.

     "UTI Certificate" has the meaning set forth in the Trust Agreement.

     "UTI Holder" means initially, VCI and any other registered holder of the
UTI Certificate.

     "UTI Portfolio" means, as to the UTI, that collection of User Leases,
Leased Vehicles and other associated Trust Assets allocated to the UTI from time
to time.

                                       4                     Servicing Agreement

<PAGE>

     "UTI Trustee" has the meaning set forth in the Recitals.

     "VCI" has the meaning set forth in the preamble.

                                   ARTICLE II
                   ADMINISTRATION AND SERVICING OF USER LEASES

     SECTION 2.1. SERVICER TO ACT AS SERVICER.

     (a) As agent for and subject to the supervision, direction and control of
the Trust as set forth in the Trust Agreement, the Servicer shall manage the
Trust and shall service, administer and collect under the User Leases and the
other Trust Assets in accordance with the terms of this Agreement, and shall
have full power and authority, acting alone and subject only to the specific
requirements and prohibitions of this Agreement, to do any and all things in
connection with such servicing, administering and collecting that it may
reasonably deem necessary or desirable. The duties of the Servicer shall
include, among other things, acquiring vehicles and originating leases on behalf
of the Trust, collecting and posting payments, responding to inquiries of End
Users on the User Leases, investigating delinquencies, sending payment
statements and reporting required tax information (if any) to End Users,
disposing of returned vehicles, paying costs of disposition of Leased Vehicles
related to Charged-off Leases, administering the User Leases, including, but not
limited to, executing powers of attorney to be delivered to End Users for the
limited purpose of obtaining license plates and fulfilling other state
requirements for registration of the Leased Vehicles, obtaining a new
Certificate of Title to a Leased Vehicle in another jurisdiction to the extent
required by law, making other modifications to the User Leases (in accordance
with Customary Servicing Practices), approving repairs to Leased Vehicles and
endorsing the related insurance settlement checks for repair work, accounting
for collections and preparing and filing all required tax returns (if any) of
the Trust.

     Without limiting the generality of the foregoing, the Servicer hereby
expressly agrees to perform and carry out on behalf of the Trust, all of the
obligations on the part of the Obligee under the User Leases and is hereby
authorized and empowered by the Trust to execute and deliver, in its own name or
on behalf of the Trust, or both of them, as the case may be, any and all
instruments of satisfaction, extension or cancellation, or of partial or full
release or discharge, and all other comparable instruments, with respect to the
User Leases or the Leased Vehicles.

     The Servicer shall cause the Trust to (i) apply for and maintain (or cause
to be applied for and maintained) all licenses, permits, authorizations and
other governmental items necessary and appropriate for the Trust to acquire,
hold and manage Trust Assets as contemplated by the Trust Agreement in each
jurisdiction where the ownership of its assets or the nature of its operations
would require it to maintain such licenses, permits, authorizations or other
governmental items, (ii) file (or cause to be filed) all notices, reports and
other required filings in each jurisdiction where the location of its assets or
the nature of its operations would require the Trust to make such filing, and
(iii) pay or cause to be paid all applicable taxes and fees properly due and
owing in connection with the Trust's activities.

     If the Servicer shall commence a legal proceeding to enforce a User Lease,
the Trust shall thereupon be deemed to have automatically assigned, solely for
the purpose of collection on

                                       5                     Servicing Agreement

<PAGE>

behalf of the Trust, its interest in such User Lease and the related Leased
Vehicle to the Servicer to the extent necessary for the purposes of
participating in such proceeding. If in any enforcement suit or legal proceeding
it is held that the Servicer may not enforce a User Lease on the grounds that it
is not the real party in interest or a holder entitled to enforce such User
Lease, the Trust shall, at the expense and direction of the Servicer, take steps
to enforce the User Lease, including bringing suit in the Trust's name. The
Trust shall furnish the Servicer with any powers of attorney and other documents
necessary or appropriate to enable the Servicer to carry out its servicing and
administrative duties hereunder.

     The Servicer shall acquire or enter into on behalf of the Trust, in its
ordinary course of business, User Leases with End Users approved by the
Servicer. The Servicer agrees that its origination, underwriting and servicing
of the User Leases for the benefit of the Trust shall be carried out in
accordance with Customary Servicing Practices with respect to similar types of
vehicles.

     (b) (i) The Servicer shall continue to maintain or enter into on behalf of
the Trust, in the ordinary course of its business, Dealer Agreements with
Dealers selected by the Servicer from time to time in its reasonable discretion
(together with such supplemental agreements as shall be necessary to permit the
Trust to enforce any rights against the Dealers). The Servicer shall execute on
behalf of the Trust all approved User Leases arranged by the Dealer. The
Servicer shall take such action as is necessary for each Certificate of Title
for each Leased Vehicle to show the owner of such Leased Vehicle as "VW Credit
Leasing, Ltd." or the name of a Trustee (other than the Delaware Trustee) using
the quoted phrase or such other similar phrase as will satisfy the Registrar of
Titles in each relevant jurisdiction, or such other designation(s) as the
Servicer shall determine. The obligations of the Servicer pursuant to this
Section 2.1(b)(i) shall survive any partial or complete termination of the
Servicer pursuant hereto for any User Lease entered into prior to the
termination of this Agreement.

     (ii) Upon the satisfaction by the Dealer of any requirements entitling the
Dealer to payment with respect to the Leased Vehicle (and the related User
Lease, if originated by the Dealer)(including without limitation the execution
and delivery thereby of all instruments of assignment of such User Lease and
Leased Vehicle to the Trust), the Servicer shall remit to such Dealer the
Purchase Price.

     Any payment by VCI to a Dealer to acquire a Leased Vehicle or a related
User Lease shall constitute a contribution by VCI to the Trust in respect of
VCI's ownership interest in the UTI followed by the purchase by the Trust of
each Leased Vehicle, related User Lease and the related Trust Assets from the
Dealer, and the UTI shall immediately thereafter be deemed to represent the
entire beneficial interest in such Leased Vehicle, the related User Lease and
any related Trust Assets (whether such User Lease was originated by a Dealer or
by the Trust).

     SECTION 2.2. COLLECTION OF MONTHLY LEASE PAYMENTS
                  AND REMITTANCES; APPLICATION OF PROCEEDS.

     (a) The Servicer shall use commercially reasonable efforts to (i) collect
all payments required under the terms and provisions of each User Lease; and
(ii) cause each End User to

                                       6                     Servicing Agreement

<PAGE>

make all payments in respect of the User Lease to which such End User is a party
or otherwise obligated.

     (b) Consistent with the foregoing, the Servicer may in its discretion (i)
waive any late payment charge or other charge that would constitute a
Supplemental Servicing Fee, and (ii) extend the Maturity Date of any User Lease
consistent with Customary Servicing Practices.

     (c) As to any other funds received by the Servicer with respect to any
Trust Asset:

          (i) With respect to any such funds relating to a SUBI Asset, the
     Servicer shall deposit such funds as set forth in the appropriate SUBI
     Servicing Agreement Supplement; and

          (ii) With respect to any such funds relating to any Trust Asset other
     than a SUBI Asset, the Servicer shall pay such funds as directed by the UTI
     Holder.

     (d) The Servicer shall, on behalf of the UTI Trustee and at the direction
of the Initial Beneficiary, from time to time, in accordance with the Trust
Agreement or the applicable SUBI Supplement thereto, identify and allocate on
the books and records of the Trust certain User Leases and/or Leased Vehicles
into one or more SUBI Portfolios, either upon the initial creation of such SUBI
or periodically following its creation.

     (e) The Servicer shall account to the applicable Trustee for the UTI
Portfolio and each SUBI Portfolio of Trust Assets separately and in accordance
with any supplement or amendment to this Agreement entered into with respect to
such UTI Portfolio or SUBI Portfolio, as the case may be.

     SECTION 2.3. RECORDS.

     The Servicer shall maintain or cause to be maintained such computer and/or
manual records with respect to Trust Assets and all Collections relating thereto
in accordance with Customary Servicing Practices with respect to similar types
of vehicles.

     SECTION 2.4. COLLECTION AND APPLICATION OF SECURITY DEPOSITS.

     The Servicer shall retain any Security Deposit remitted to it or the Trust
as agent and bailee for the Trust, and shall apply the proceeds of such Security
Deposits in accordance with applicable law, its Customary Servicing Practices
and the User Leases, including but not limited to using the Security Deposit in
respect of any User Lease for the payment of any amount resulting from the
related End User's default or failure to pay all amounts required to be paid
under such User Lease or resulting from excess mileage or excess wear and tear
to the related Leased Vehicle. In the event that any User Lease becomes a
Charged-off Lease or, if earlier, the related Leased Vehicle is repossessed,
then the related Security Deposit, to the extent permitted by such User Lease
and applicable law, shall thereby become a Collection. Each Security Deposit,
after deduction for amounts applied towards the payment of any amount resulting
from the related End User's default or failure to pay any amounts required to be
paid under such User Lease or damage to the related Leased Vehicle, shall be
returned to the related End User by the

                                       7                     Servicing Agreement

<PAGE>

Servicer; provided, however, that the Servicer may retain a Security Deposit
(including any interest thereon) until the End User has repaid all other charges
owed under such User Lease.

     SECTION 2.5. SERVICING COMPENSATION; FEES, COSTS AND EXPENSES.

     (a) As compensation for the performance of its obligations under this
Agreement and subject to the terms of this Section and the terms of any
applicable SUBI Servicing Agreement Supplement, the Servicer shall be entitled
to receive from the Trust, a fee (the "Servicing Fee") equal to:

          (i) With respect to each SUBI Portfolio, the amount set forth in the
     related SUBI Servicing Agreement Supplement.

          (ii) With respect to the UTI Portfolio, such amount as shall be agreed
     from time to time between the holder of the UTI and the Servicer.

          (iii) In addition to the foregoing, the Servicer shall be entitled to
     retain as additional compensation, for each UTI Portfolio or SUBI
     Portfolio, all Supplemental Servicing Fees.

     The Servicer shall pay all expenses of the Trust and all expenses incurred
by it in connection with its servicing activities hereunder, including the costs
of any Trustee, any separate trustee or co-trustee appointed by a Trustee
pursuant to Section 6.6 of the Trust Agreement, and shall not be entitled to
reimbursement of such expenses. Notwithstanding anything contained in the
foregoing sentence to the contrary, the Servicer shall not be liable to pay
losses with respect to Trust Assets.

     (b) As additional servicing compensation, the Servicer also shall be
entitled to the earnings from the investment of Security Deposits retained as
and to the extent permitted by applicable law and the applicable User Leases and
to the extent not required to be paid to the End Users.

     SECTION 2.6. ENFORCEMENT OF USER LEASES;
                  REPOSSESSION AND SALE OF LEASED VEHICLES.

     The Servicer shall use commercially reasonable efforts (consistent with its
Customary Servicing Practices with respect to similar types of vehicles) to
enforce the provisions of the User Leases and to repossess or otherwise take
possession of the Leased Vehicle related to any User Lease that shall have
terminated or expired or that the Servicer shall have determined (in accordance
with its Customary Servicing Practices) to be in default.

     The Servicer shall, in accordance with the standards set forth in the
immediately preceding paragraph:

     (a) follow such practices and procedures as it shall deem necessary or
advisable in accordance with its Customary Servicing Practices in its servicing
of leases for automobiles, sports utility vehicles, light-duty trucks and other
vehicles, which may include reasonable efforts

                                       8                     Servicing Agreement

<PAGE>

to realize upon any recourse to Dealers, consigning a Leased Vehicle to a motor
vehicle dealer for resale or selling a Leased Vehicle at public or private sale;
and

     (b) sell or otherwise dispose of each Leased Vehicle that is so repossessed
and, if the User Lease is in default, shall commence and prosecute any legal
proceedings in respect of such User Lease (and the related Leased Vehicle) in
its own name or in the name of the Trust.

     SECTION 2.7. SERVICER TO ACT ON BEHALF OF TRUST.

     (a) In order to facilitate the servicing of the User Leases by the
Servicer, the Trust hereby appoints the Servicer as its agent and bailee to
retain possession of the User Leases, Certificates of Title and any other
related items that from time to time come into possession of the Servicer, and
the Servicer hereby accepts such appointment.

     (b) The Servicer shall identify from time to time all (i) periodic sales
and use tax or property (real or personal) tax reports, (ii) periodic renewals
of licenses and permits, (iii) periodic renewals of qualification to act as a
trust and a business trust and (iv) other governmental filings, registrations or
approvals (collectively, "Filings") arising with respect to or required of the
Trust, including such licenses, permits, and other Filings as are required for
the Trust to originate and accept assignments of User Leases and to be
identified as the owner of Leased Vehicles on their Certificates of Title, as
contemplated by Section 2.1(a)(i). The Servicer shall also identify any surety
bonds or other ancillary undertakings required of the Trust in respect of any
Filing. The Servicer shall timely prepare and file, or cause to be filed, with
the cooperation of the Trustees, on behalf of the Trust with the appropriate
Person each Filing and each such ancillary undertaking. In connection with this
Section 2.7(b), the Trust grants to the Servicer the authority to, and will,
from time to time, execute and deliver to the Servicer any necessary power of
attorney as the Servicer may require in order to effect each such Filing and
ancillary undertaking. Should the Servicer at any time receive notice, or have
actual knowledge, of any non-compliance with any Filing requirement, it shall
promptly take all required action to rectify such noncompliance.

     (c) The Servicer agrees to indemnify, defend and hold harmless the Trust,
the Trustees and their respective agents (including without limitation any Trust
Agent) for (i) any and all liabilities, losses, damages and expenses that may be
incurred as a result of any negligent act or omission by the Servicer in
connection with any Trust Asset or this Agreement, and (ii) any claims by third
parties against the Trust. The obligations set forth in this Section 2.7(c)
shall survive the termination of this Agreement and the Trust Agreement or the
resignation or removal of the Servicer or any Trustee; provided, however, that
the provisions of this Section 2.7(c) shall not require any successor Servicer
appointed hereunder to indemnify any Person except with respect to the
negligence or misconduct of such successor Servicer in performing its duties
hereunder or the breach by such successor Servicer of this Agreement.

     SECTION 2.8. THIRD PARTY CLAIMS.

     The Servicer shall promptly notify VCI (in the event that VCI is not acting
as the Servicer hereunder) and the Trustees, on behalf of the Trust, upon its
learning that a claim of whatever kind that would be indemnified under Section
2.7.

                                       9                     Servicing Agreement

<PAGE>

     SECTION 2.9. INSURANCE POLICIES.

     (a) The Servicer shall at all times have in effect, maintain and keep in
force for the benefit of the Trust, or cause the Trust to have in effect,
maintain and keep in force, insurance policies (which may be blanket policies
covering the Servicer, the Trust and some or all Affiliates of the Servicer)
with respect to the Trust Assets against such hazards, in such form and in such
amounts as follows:

          (i) Contingent and excess automobile liability insurance policies with
     a nationally recognized insurance company with a rating of at least A- by
     A.M. Best, with limits of no less than $1,000,000 per occurrence, covering
     losses in the event that an End User's primary insurance policy is not
     collectible at the time of loss or that a liability claim exceeds the
     policy limit of the End User's primary insurance.

          (ii) Interim automobile liability insurance coverage with a nationally
     recognized insurance company with a rating of at least A- by A.M. Best,
     with limits of no less than $1,000,000 per occurrence, covering losses (i)
     prior to the time that an End User's primary insurance becomes effective
     and (ii) after a User Lease has terminated.

          (iii) Umbrella excess liability insurance of not less than $25,000,000
     with an insurer that has a rating of at least A- by A.M. Best. Such
     coverage shall be on a per occurrence basis and over and above the coverage
     provided by the policies described in paragraphs (i) and (ii) above. The
     coverages of the umbrella excess liability policies shall be at least as
     broad as the coverages as set forth in paragraphs (i) and (ii) above.

          (iv) All policies of insurance required to be maintained pursuant to
     this section shall name the Trust as an additional insured (the "Additional
     Insured"). Each policy shall expressly provide that all provisions thereof,
     except liability for premiums (which shall be solely a liability of the
     Servicer) and the limits of the insurer's liability under the policy, shall
     operate in the same manner as if there were a separate policy covering the
     Additional Insured.

     SECTION 2.10. SERVICER NOT TO RESIGN; ASSIGNMENT.

     (a) Except as provided in Section 4.1(b), the Servicer shall not resign
from the duties and obligations hereby imposed on it as Servicer except upon
determination by its board of directors that by reason of change in applicable
legal requirements the continued performance by the Servicer of its duties as
Servicer under this Agreement would cause it to be in violation of such legal
requirements in a manner that would result in a material adverse effect on the
Servicer or its financial condition, said determination to be evidenced by
resolutions of the board of directors to such effect accompanied by an opinion
of counsel reasonably satisfactory to the Trustees, to such effect. No such
resignation shall become effective unless and until a new servicer is willing to
service the User Leases and enters into a servicing agreement with the Trust,
such agreement to have substantially the same provisions as this Agreement. The
Trust shall not unreasonably fail to consent to such a servicing agreement.

     (b) Subject to paragraph (c) of this Section, the Servicer may not assign
this Agreement or any of its rights, powers, duties or obligations hereunder;
provided, however, that

                                      10                     Servicing Agreement

<PAGE>

the Servicer may assign this Agreement in connection with a consolidation,
merger, conveyance or transfer of substantially all of its assets without the
consent of any Person.

     (c) The Servicer may, at any time without notice or consent, delegate (i)
any or all duties under this Agreement to any Person more than 50% of the voting
securities of which are owned, directly or indirectly, by Volkswagen AG or any
successor thereto, or (ii) specific duties to sub-contractors who are in the
business of performing such duties; provided, however, that no such delegation
shall relieve the Servicer of its responsibility with respect to such duties and
the Servicer shall remain obligated and liable to the Trustees and the holders
of the UTI and the SUBIs for servicing and administering the Trust Assets in
accordance with this Agreement as if the Servicer alone were performing such
duties.

                                  ARTICLE III
                    SERVICER TERMINATION WITH RESPECT TO UTI

     SECTION 3.1. TERMINATION OF SERVICER BY UTI HOLDER WITH RESPECT TO UTI.

     The UTI Holder may, upon written notice to the Servicer, terminate all or a
portion of the rights and powers of the Servicer with respect to the UTI under
this Agreement.

                                   ARTICLE IV
                                  MISCELLANEOUS

     SECTION 4.1. TERMINATION OF AGREEMENT.

     This Agreement shall, except as otherwise provided herein, terminate upon
the earliest of (a) the termination of the Trust; (b) the discharge of the
Servicer in accordance with the terms hereof; or (c) the mutual written
determination of the parties hereto. Upon termination of this Agreement, the
Servicer shall pay over to the Trust, or any other Person entitled thereto, all
monies held by the Servicer on behalf of the Trust pursuant to this Agreement.

     SECTION 4.2. AMENDMENT.

     (a) This Agreement may be amended from time to time in a writing signed by
the Trustees, on behalf of the Trust, and the Servicer. Any amendment affecting
particular Trust Assets allocated to a SUBI Portfolio need not be signed by any
Trustee which does not administer such particular Trust Assets. The consent of
the holders or pledgees of any SUBI Certificate shall not be required to amend
this Agreement except to the extent the interests of such holder or pledgee
would be adversely affected.

     (b) In particular, but without limiting the foregoing, this Agreement may
be amended by means of one or more SUBI Servicing Agreement Supplements in
connection with any Financings. Such supplemental agreements may provide, among
other things, for further specific servicing obligations relating to SUBI Assets
for the particular benefit of holders of related SUBIs. Such supplemental
agreements may permit the termination of this Agreement insofar as it applies to
such SUBI Assets upon the terms and conditions set forth therein; however, no
such supplemental agreement shall permit the termination of this Agreement
insofar as it applies to other Trust Assets except as provided herein.

                                      11                     Servicing Agreement

<PAGE>

     (c) Any amendment or modification effected contrary to the provisions of
this Section shall be void.

     SECTION 4.3. GOVERNING LAW.

     THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ANY OTHERWISE APPLICABLE
PRINCIPLES OF CONFLICT OF LAWS.

     SECTION 4.4. NOTICES.

     All demands, notices and communications hereunder shall be in writing and
shall be delivered or mailed by registered or certified first-class United
States mail, postage prepaid, hand delivery, any prepaid courier service, or by
telecopier, and addressed in each case as follows: (a) if to the Servicer, VW
Credit, Inc., 3800 Hamlin Road, Auburn Hills, Michigan 48326, Attention:
Secretary; Facsimile: (248) 340-4794 and Attention: Treasurer; Facsimile (298)
340-5360, with copies to Mayer, Brown & Platt, 190 South LaSalle Street,
Chicago, Illinois 60603, Attention: Stuart M. Litwin; Facsimile: (312) 701-7711
(Confirmation Number: (312) 701-7373); (b) if to the UTI Trustee or
Administrative Trustee, U.S. Bank Trust National Association, One Illinois
Center, 111 East Wacker, Suite 3000, Chicago, Illinois 60601 Attention:
Corporate Trust Department; Facsimile: (312) 228-9401 (Confirmation Number:
(312) 228-9416); or (c) if to the Delaware Trustee, 1100 North Market Street,
Wilmington, Delaware 19890 Attention: Corporate Trust Administration; Facsimile:
(302) 651-8882. The Servicer or any Trustee may change its address for notices
hereunder by giving notice of such change to the other parties hereto and to the
parties to the Trust Agreement. All notices and demands shall be deemed to have
been given upon delivery or tender of delivery thereof to any officer of the
Person entitled to receive such notices and demands at the address of such
Person for notices hereunder.

     SECTION 4.5. SEVERABILITY.

     If one or more of the provisions of this Agreement shall be for any reason
whatever held invalid or unenforceable, such provisions shall be deemed
severable from the remaining covenants, agreements and provisions of this
Agreement, and such invalidity or unenforceability shall in no way affect the
validity or enforceability of such remaining covenants, agreements and
provisions, or the rights of any parties hereto. To the extent permitted by law,
the parties hereto waive any provision of law that renders any provision of this
Agreement invalid or unenforceable in any respect.

     SECTION 4.6. BINDING EFFECT.

     The provisions of this Agreement shall be binding upon and inure to the
benefit of the respective successors and permitted assigns of the parties
hereto, and all such provisions shall inure to the benefit of the Trust.

                                      12                     Servicing Agreement

<PAGE>

     SECTION 4.7. ARTICLE AND SECTION HEADINGS.

     The article and section headings herein are for convenience of reference
only, and shall not limit or otherwise affect the meaning hereof.

     SECTION 4.8. EXECUTION IN COUNTERPARTS.

     This Agreement 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 4.9. RIGHTS CUMULATIVE.

     All rights and remedies from time to time conferred upon or reserved to the
Trust, the Trustees (or any of them), on behalf of the Trust, or the Servicer or
to any or all of the foregoing are cumulative, and none is intended to be
exclusive of another. No delay or omission in insisting upon the strict
observance or performance of any provision of this Agreement, or in exercising
any right or remedy, shall be construed as a waiver or relinquishment of such
provision, nor shall it impair such right or remedy. Every right and remedy may
be exercised from time to time and as often as deemed expedient.

     SECTION 4.10. 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 Agreement and to better assure and confirm unto
the requesting party its rights, powers and remedies hereunder.

     SECTION 4.11. THIRD-PARTY BENEFICIARIES.

     This Agreement will inure to the benefit of and be binding upon the parties
hereto and each of the beneficiaries of the Trust (including each pledgee or
assignee of the UTI), who shall be considered to be third-party beneficiaries
hereof. Except as otherwise provided in this Agreement, no other Person will
have any right or obligation hereunder.

     SECTION 4.12. NO WAIVER.

     No waiver by any party hereto of any one or more defaults by any other
party or parties in the performance of any of the provisions of this Agreement
shall operate or be construed as a waiver of any future default or defaults,
whether of a like or different nature. No failure or delay on the part of any
party in exercising any right, power or remedy hereunder shall operate as a
waiver thereof, nor shall any single or partial exercise of any such right,
power or remedy preclude any other or further exercise thereof or the exercise
of any other right, power or remedy. The remedies provided for herein are
cumulative and are not exclusive of any remedies that may be available to any
party hereto at law, in equity or otherwise.

                                      13                     Servicing Agreement

<PAGE>

     SECTION 4.13. NON-PETITION COVENANT.

     The Servicer covenants and agrees that prior to the date which is one year
and one day after the date upon which all obligations under each Financing has
been paid in full, the Servicer will not institute against, or join any other
person in instituting against the Trust, any Special Purpose Entity or any
general partner of a Special Purpose Entity that is a partnership, any
bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding or
other proceedings under any federal or state bankruptcy or similar law. This
Section shall survive the termination of this Agreement or the resignation or
removal of the Servicer under this Agreement.

     SECTION 4.14. SERIES LIABILITIES.

     It is expressly understood and agreed by the Servicer, and all persons
claiming through the Servicer, that the Trust is a series trust pursuant to
Sections 3804 and 3806(b)(2) of the Business Trust Statute. As such, separate
and distinct records shall be maintained for the UTI Portfolio and each SUBI
Portfolio and the Trust Assets associated with the UTI Portfolio and each SUBI
Portfolio shall be held and accounted for separately from the other assets of
the Trust. The debts, liabilities, obligations and expenses incurred, contracted
for or otherwise existing with respect to the UTI and each SUBI shall be
enforceable against the UTI Portfolio or the related SUBI Portfolio only, and
not against the Trust Assets generally or the assets of any other SUBI
Portfolio.

     SECTION 4.15. LIMITATION OF LIABILITY.

     It is expressly understood and agreed by the parties hereto that (a) this
Agreement is executed and delivered by U.S. Bank Trust, National Association,
not individually or personally but solely as Administrative Trustee and UTI
Trustee of the Trust under the Trust Agreement, in the exercise of the powers
and authority conferred and vested in it, (b) each of the representations,
undertakings and agreements herein made on the part of either the Administrative
Trustee, the UTI Trustee or the Trust is made and intended not as personal
representations, undertakings and agreements by U.S. Bank Trust National
Association but is made and intended for the purpose of binding only the Trust,
(c) nothing herein contained shall be construed as creating any liability on
U.S. Bank Trust, National Association, 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 (d) under no circumstances shall
U.S. Bank Trust, National Association be personally liable for the payment of
any indebtedness or expenses of the Trust or be liable for the breach or failure
of any obligation, representation, warranty or covenant made or undertaken by
the Administrative Trustee, UTI Trustee or the Trust under this Agreement.

                                      14                     Servicing Agreement

<PAGE>

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

                              VW CREDIT, INC.,
                              as Servicer

                              By:    /s/ Frank Witter
                                     -----------------------------
                              Name:  Frank Witter
                              Title: Treasurer

                              By:    /s/ Kevin Kelly
                                     -----------------------------
                              Name:  Kevin Kelly
                              Title: President

                              VW CREDIT LEASING, LTD.

                              By:    U.S. Bank Trust National Association,
                                     as Administrative Trustee and UTI Trustee

                              By:    /s/ Melissa A. Rosal
                                     -----------------------------
                              Name:  Melissa A. Rosal
                              Title: Vice President

                                      S-1                    Servicing Agreement

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