Document:

EX-10.2

 Exhibit 10.2 
  

 
 VW CREDIT LEASING, LTD., 

U.S. BANK NATIONAL ASSOCIATION, 

Not in its Individual Capacity 
 but
Solely as SUBI Trustee, 
 and 

VW CREDIT, INC., 
 as
Servicer 
 TRANSACTION SUBI SUPPLEMENT 2020-A TO 

SERVICING AGREEMENT 

Dated as of December 3, 2020 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE V DEFINITIONS
	  	 	2	 
			
	 Section 5.1
	 	Definitions	  	 	2	 
		
	 ARTICLE VI REPRESENTATIONS AND WARRANTIES OF SERVICER
	  	 	3	 
			
	 Section 6.1
	 	Existence and Power	  	 	3	 
	 Section 6.2
	 	Authorization and No Contravention	  	 	3	 
	 Section 6.3
	 	No Consent Required	  	 	3	 
	 Section 6.4
	 	Binding Effect	  	 	3	 
	 Section 6.5
	 	No Proceedings	  	 	3	 
		
	 ARTICLE VII SPECIFIC REQUIREMENTS FOR ADMINISTRATION AND SERVICING OF THE TRANSACTION
SUBI PORTFOLIO
	  	 	4	 
			
	 Section 7.1
	 	Appointment of Servicer	  	 	4	 
	 Section 7.2
	 	Servicer Bound by Servicing Agreement	  	 	4	 
	 Section 7.3
	 	Application of Proceeds	  	 	5	 
	 Section 7.4
	 	Servicer Certificate	  	 	5	 
	 Section 7.5
	 	Servicing Fee	  	 	5	 
	 Section 7.6
	 	Insurance Lapses; Repairs	  	 	6	 
	 Section 7.7
	 	Licensing of Origination Trust	  	 	6	 
	 Section 7.8
	 	Servicer Advances	  	 	6	 
	 Section 7.9
	 	Payment of Fees and Expenses; Indemnity for Taxes	  	 	6	 
	 Section 7.10
	 	Annual Independent Public Accountants’ Servicing Report	  	 	6	 
	 Section 7.11
	 	Annual Officer’s Certificate; Annual ERISA Certification	  	 	7	 
	 Section 7.12
	 	Postmaturity Term Extension	  	 	7	 
	 Section 7.13
	 	Insurance Policies; Additional Insureds	  	 	7	 
	 Section 7.14
	 	Security Deposits	  	 	8	 
	 Section 7.15
	 	Pull-Ahead and Other Early Termination Marketing Programs	  	 	8	 
	 Section 7.16
	 	1934 Act Filings	  	 	8	 
		
	 ARTICLE VIII TERMINATION OF SERVICER
	  	 	8	 
			
	 Section 8.1
	 	Termination of Servicer as to Transaction SUBI Portfolio	  	 	8	 
	 Section 8.2
	 	No Effect on Other Parties	  	 	9	 
		
	 ARTICLE IX MISCELLANEOUS
	  	 	10	 
			
	 Section 9.1
	 	Amendment	  	 	10	 
	 Section 9.2
	 	Governing Law	  	 	11	 
	 Section 9.3
	 	Notices	  	 	11	 
	 Section 9.4
	 	Third-Party Beneficiaries	  	 	11	 
	 Section 9.5
	 	Severability	  	 	11	 
	 Section 9.6
	 	Binding Effect	  	 	11	 
	 Section 9.7
	 	Headings	  	 	11	 
	 Section 9.8
	 	Execution in Counterparts	  	 	11	 
	 Section 9.9
	 	Further Assurances	  	 	12	 

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
 Page 

 

							
	 Section 9.10
	 	Each SUBI Separate; Assignees of SUBI	  	 	12	 
	 Section 9.11
	 	No Petition	  	 	12	 
	 Section 9.12
	 	SUBMISSION TO JURISDICTION; WAIVER OF JURY TRIAL	  	 	13	 
	 Section 9.13
	 	Limitation of Liability of U.S. Bank	  	 	14	 
	 Section 9.14
	 	Information Requests	  	 	14	 
	 Section 9.15
	 	Regulation AB	  	 	14	 
	 Section 9.16
	 	Electronic Signatures and Transmission	  	 	14	 

  

			
	EXHIBIT A	  	Form of Annual Officer’s Certificate
		
	EXHIBIT B	  	Form of Annual ERISA Certification

  
 -ii- 

 TRANSACTION SUBI SUPPLEMENT 2020-A TO 

SERVICING AGREEMENT 

THIS TRANSACTION SUBI SUPPLEMENT 2020-A TO SERVICING AGREEMENT (as amended, modified or
supplemented from time to time, this “Transaction SUBI Servicing Supplement”), dated as of December 3, 2020, is among VW CREDIT LEASING, LTD., a Delaware statutory trust (the “Origination Trust”), U.S. BANK
NATIONAL ASSOCIATION, a national banking association, as successor to U.S. Bank Trust National Association, not in its individual capacity but solely as a SUBI Trustee (hereinafter, together with its successors and assigns, the “SUBI
Trustee”) of the Origination Trust, and VW CREDIT, INC., a Delaware corporation (“VCI”), as Servicer (in such capacity, the “Servicer”). 

RECITALS 
 A. VCI
(in its capacity as settlor, the “Settlor”), Wilmington Trust Company, as Delaware Trustee (the “Delaware Trustee”), and U.S. Bank National Association, as successor to U.S. Bank Trust National Association, as
Administrative Trustee and UTI Trustee (in such capacity, together with any successor or permitted assign, the “Administrative Trustee” and the “UTI Trustee”, respectively, and collectively with the Delaware Trustee
and the SUBI Trustee, the “Origination Trustees”) 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 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 the Servicer also have entered into that certain Servicing Agreement dated as of June 22, 1999, 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 within separate SUBI Portfolios and create and issue to the Initial Beneficiary separate special
units of beneficial interest in the Origination Trust or “SUBIs”, the beneficiary or beneficiaries of which will hold an exclusive 100% beneficial ownership interest in the related SUBI Portfolios, all as set forth in the
Origination Trust Agreement. 
 D. Concurrently herewith, Volkswagen Auto Lease/Loan Underwritten Funding, LLC (the
“Transferor”) will purchase the Transaction SUBI and the Transaction SUBI Certificate from VCI and the Issuer will purchase the Transaction SUBI and the Transaction SUBI Certificate from the Transferor. The Issuer is expected to
fund such purchase from proceeds of the issuance of the Notes and Certificates. 
 Transaction SUBI 

Servicing Supplement (2020-A) 

 E. Concurrently herewith, Volkswagen Auto Lease Trust
2020-A, a Delaware statutory trust (the “Issuer”), is entering into an asset-backed financing transaction pursuant to, among other agreements, an indenture (the “Indenture”)
with Citibank, N.A., as indenture trustee (the “Indenture Trustee”), pursuant to which the Issuer will issue asset-backed notes and will grant a security interest to the Indenture Trustee in certain of its assets. 

F. Concurrently herewith, the Initial Beneficiary, the UTI Trustee, the Administrative Trustee and the SUBI Trustee are entering into that
certain Transaction SUBI Supplement 2020-A to Origination Trust Agreement (as amended, modified or supplemented from time to time, the “Transaction SUBI Supplement”) to supplement the terms of
the Origination Trust Agreement (i) to cause the UTI Trustee to identify and allocate Origination Trust Assets to a particular SUBI Portfolio (the “Transaction SUBI Portfolio”), which shall consist of Origination Trust Assets
which shall constitute SUBI Assets, and (ii) to create and issue to VCI a SUBI Certificate (such SUBI Certificate, together with any replacements thereof, the “Transaction SUBI Certificate”), that will evidence the entire
beneficial ownership interest in the related SUBI Portfolio (the “Transaction SUBI”) including the Transaction Vehicles, with the Origination Trust continuing to hold record title to the Transaction Vehicles as agent and nominee for
the holder of the Transaction SUBI Certificate, and (iii) to set forth the terms and conditions thereof. 
 G. Concurrently herewith,
the UTI Trustee, on behalf of the Origination Trust and at the direction of the Initial Beneficiary, is issuing to VCI the Transaction SUBI Certificate, representing all of the Initial Beneficiary’s right, title and interest in and to the
Transaction SUBI, and the right to realize on any property that may be included in the Transaction SUBI Portfolio, and all proceeds thereof. 

H. The Origination Trust desires to retain the Servicer to provide certain services with respect to the Transaction SUBI Portfolio beneficially
owned by the Issuer, and the parties hereto desire, pursuant to this Transaction SUBI Servicing Supplement, to supplement the terms of the Servicing Agreement insofar as they apply to the Transaction SUBI Portfolio, providing for specific servicing
obligations that will benefit the Issuer, as holder of the Transaction SUBI Certificate, and the Indenture Trustee, as the pledgee of the Transaction SUBI Certificate on behalf of the Noteholders. 

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

DEFINITIONS 

Section 5.1 Definitions. For all purposes of this Transaction SUBI Servicing 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 (i) in Appendix A of the Indenture,
(ii) if not defined therein, by the Servicing Agreement, (iii) if not defined therein, by the Origination Trust Agreement, or (iv) if not defined therein, by the Transaction SUBI Supplement, (b) the capitalized terms defined in
this 

  

					
		  	2	  	 Transaction SUBI

Servicing Supplement (2020-A)

 
Transaction SUBI Servicing Supplement have the meanings assigned to them in this Transaction SUBI Servicing Supplement 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 Transaction SUBI Servicing Supplement as a whole and not to any particular article or section within this Transaction SUBI
Servicing Supplement, (d) the term “include” and all variations thereon shall mean “include without limitation”, and (e) the term “or” shall include “and/or”. 

ARTICLE VI 

REPRESENTATIONS AND WARRANTIES OF SERVICER 

The Servicer represents and warrants to the Transferor, the Issuer and the Indenture Trustee on behalf of the Noteholders as follows: 

Section 6.1 Existence and Power. The Servicer is a corporation, duly organized, validly
existing and in good standing under the laws of the State of Delaware and has all power and authority required to carry on its business as it is now conducted. The Servicer has obtained all necessary licenses and approvals in all jurisdictions where
the failure to do so would materially and adversely affect the business, properties, financial condition or results of operations of the Servicer, taken as a whole. 

Section 6.2 Authorization and No Contravention. The execution, delivery and performance by the
Servicer of each Transaction Document to which it is a party (i) have been duly authorized by all necessary corporate action and (ii) do not violate or constitute a default under (A) any applicable law, rule or regulation,
(B) its organizational instruments or (C) any agreement, contract, order or other instrument to which it is a party or its property is subject and (iii) will not result in any Adverse Claim on any Transaction Unit or Collection or
give cause for the acceleration of any indebtedness of the Servicer. 
 Section 6.3 No Consent
Required. No approval, authorization or other action by, or filing with, any Governmental Authority is required in connection with the execution, delivery and performance by the Servicer of any Transaction Document, other than UCC
filings and other than approvals and authorizations that have previously been obtained and filings which have previously been made. 

Section 6.4 Binding Effect. Each Transaction Document to which the Servicer is a party
constitutes the legal, valid and binding obligation of the Servicer enforceable against the Servicer in accordance with its terms, except as limited by bankruptcy, insolvency, or other similar laws of general application relating to or affecting the
enforcement of creditors’ rights generally and subject to general principles of equity. 
 Section 6.5
No Proceedings. There is no action, suit, Proceeding or investigation pending or, to the knowledge of the Servicer, threatened against the Servicer which, either in any one instance or in the aggregate, would result in any
material adverse change in the business, operations, financial condition, properties or assets of the Servicer, or in any material impairment of the right or ability of the Servicer to carry on its business substantially as now conducted, or in any
material liability on the part of the Servicer, or which would render invalid the Servicing Agreement, this Transaction SUBI Servicing Supplement or the Transaction Units or the obligations of the Servicer contemplated herein, or which would
materially impair the ability of the Servicer to perform under the terms of this Transaction SUBI Servicing Supplement or any other Transaction Document. 

  

					
		  	3	  	 Transaction SUBI

Servicing Supplement (2020-A)

 ARTICLE VII 

SPECIFIC REQUIREMENTS FOR 

ADMINISTRATION AND SERVICING OF THE 

TRANSACTION SUBI PORTFOLIO 

Section 7.1 Appointment of Servicer. 

(a) The Servicer shall manage, service and administer the Transaction SUBI Assets, at its own expense and for the benefit of each holder and
pledgee of the Transaction SUBI Certificate, and shall make collections on the Transaction Units in accordance with its Customary Servicing Practices in effect from time to time, using the same degree of skill and attention that the Servicer
exercises with respect to all comparable retail automotive leases that it services for itself or others. 
 (b) The Servicer may delegate its
duties and obligations as Servicer in accordance with Section 2.10 of the Servicing Agreement. 
 (c) The Servicer
is hereby authorized to commence, in its own name or in the name of the Origination Trust, a legal Proceeding (including a bankruptcy Proceeding) relating to or involving a Transaction Unit, a Lessee or a Leased Vehicle. If the Servicer shall
commence a legal Proceeding to enforce a Transaction Unit, the Origination Trust shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Transaction Unit to the Servicer. If in any enforcement suit or
legal Proceeding it shall be held that the Servicer may not enforce a Transaction Unit on the ground that it is not a real party in interest or a holder entitled to enforce such Transaction Unit, the Origination Trust shall, at the Servicer’s
expense and direction, take steps to enforce such Transaction Unit, including bringing suit in its name. 
 (d) The Servicer shall account
for the Transaction SUBI Portfolio separately from any other SUBI Portfolio. 
 Section 7.2 Servicer Bound by Servicing
Agreement. 
 (a) The Servicer shall continue to be bound by all provisions of the Servicing Agreement with respect to the
Transaction Units allocated to the Transaction SUBI Portfolio, including the provisions of Article II thereof relating to the administration and servicing of Leases; and the provisions set forth herein shall operate either as additions to or
modifications of the existing obligations of the Servicer under the Servicing Agreement, as the context may require. In the event of any conflict between the provisions of this Transaction SUBI Servicing Supplement and the Servicing Agreement with
respect to the Transaction SUBI, the provisions of this Transaction SUBI Servicing Supplement shall prevail. 

  

					
		  	4	  	 Transaction SUBI

Servicing Supplement (2020-A)

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

 Section 7.3 Application of Proceeds. 

(a) Prior to the satisfaction and discharge of the Indenture with respect to the Collateral, the Servicer shall deposit an amount equal to all
Collections received in respect of the Transaction SUBI during any Collection Period into the Collection Account on or prior to 11:00 a.m., New York City time, on the related Payment Date; provided, however, that if the Monthly
Remittance Condition is not satisfied, the Servicer shall deposit an amount equal to all Collections into the Collection Account within two Business Days after identification thereof. The “Monthly Remittance Condition” shall be
deemed to be satisfied if (i) VCI is the Servicer, (ii) no Servicer Replacement Event has occurred and is continuing and (iii) either (x) VCI has a short-term debt rating of at least “F1” from Fitch and at least “A-1” from S&P or (y) an entity with such ratings has guaranteed the performance of VCI’s obligations hereunder. Pending deposit into the Collection Account, Collections may be used by the
Servicer at its own risk and for its own benefit and will not be segregated from its own funds. 
 (b) After the satisfaction and discharge
of the Indenture with respect to the Collateral, the Servicer shall pay an amount equal to Collections in accordance with the instructions provided from time to time by the holder of the Transaction SUBI Certificate. 

(c) Notwithstanding anything to the contrary contained in this Transaction SUBI Servicing Supplement, for so long as the Monthly Remittance
Condition has been satisfied, the Servicer shall be permitted to deposit into the Collection Account only the net amount distributable to the Issuer, as holder of the Transaction SUBI Certificate, on each Payment Date. The Servicer shall, however,
account for all Collections as if all of the deposits and distributions described herein were made individually. 
 Section 7.4
Servicer Certificate. 
 (a) On each Determination Date prior to the satisfaction and discharge of the Indenture with respect to
the Collateral, the Servicer shall deliver prior to 11:00 a.m., New York City time, on such date to the Indenture Trustee, the Issuer, the SUBI Trustee, the Administrator and each Paying Agent a Servicer Certificate reflecting information as of the
close of business of the Servicer for the immediately preceding Collection Period containing the information described in Section 8.3(a) of the Indenture. At the sole option of the Servicer, each Servicer Certificate may be
delivered in electronic or hard copy format. 
 Section 7.5 Servicing Fee. Notwithstanding
anything to the contrary in Section 2.5 of the Servicing Agreement, on each Payment Date, the Issuer shall pay to the Servicer in accordance with Section 8.4(a) or
Section 5.4(b) of the Indenture, as applicable, the Servicing Fee for the immediately preceding Collection Period as compensation for its services. In addition, the Servicer may retain any Supplemental Servicing Fees. 

  

					
		  	5	  	 Transaction SUBI

Servicing Supplement (2020-A)

 Section 7.6 Insurance Lapses; Repairs. The
Servicer shall not be required to monitor whether any Lessee has, and shall have no liability in the event that any Lessee fails to maintain in full force and effect, a physical damage insurance policy covering any Transaction Unit or naming the
Origination Trust as loss payee. Without limiting the foregoing, in no event shall the Servicer be obligated to perform or be liable for any repairs or maintenance with respect to any Transaction Unit. 

Section 7.7 Licensing of Origination Trust. The Servicer shall cause the Origination Trust to
apply for and maintain at all times all licenses and permits necessary to carry on the Origination Trust’s leasing business in each jurisdiction in which the Origination Trust operates, except where the failure to have any license or permit
would not materially and adversely affect the business, properties, financial condition or results of operation of the Origination Trust, taken as a whole. 

Section 7.8 Servicer Advances. On each Payment Date, the Servicer shall deposit into the
Collection Account prior to 11:00 a.m., New York City time, an advance in an amount equal to the lesser of (a) any shortfall in the amounts available to make the payments in clauses (i) through (v) of
Section 8.4(a) of the Indenture and (b) the aggregate scheduled monthly lease payments due on Included Units but not received (or not received in full) during and prior to the related Collection Period (an
“Advance”); provided, however, that the Servicer will not be obligated to make an Advance if the Servicer reasonably determines in its sole discretion that such Advance is not likely to be repaid from future cash flows
from the Transaction SUBI Portfolio. No Advances will be made with respect to Defaulted Leases. Notwithstanding the foregoing, following any replacement of VCI as Servicer pursuant to Section 8.1, the successor Servicer
shall not be required to make any Advances. 
 Section 7.9 Payment of Fees and Expenses; Indemnity for
Taxes. The Servicer shall pay all expenses (other than expenses described in the definition of Sales Proceeds) incurred in connection with the administration and servicing of the Transaction SUBI and the Transaction Units, including,
without limitation, expenses incurred by it in connection with its activities hereunder, including fees and disbursements of the SUBI Trustee, independent accountants, taxes imposed on the Servicer and any SUBI Trustee indemnity claims. The Servicer
shall pay any and all taxes levied or assessed upon the Issuer or upon all or any part of the Trust Estate. 

Section 7.10 Annual Independent Public Accountants’ Servicing
Report. For so long as the Transferor is filing reports under the Exchange Act with respect to the Issuer, on or before March 30th of each calendar year (or, if such day is not a
Business Day, the next Business Day), beginning with March 30, 2021, the Servicer shall cause a firm of independent registered public accountants (who may also render other services to the Servicer, the Transferor or their respective
Affiliates) to furnish to the Indenture Trustee, the Servicer and the Transferor each attestation report on assessments of compliance with the Servicing Criteria with respect to the Servicer or any Affiliate thereof during the related fiscal year
(or since the Closing Date, in the case of the first such attestation report) delivered by such accountants pursuant to paragraph (c) of Rule 13a-18 or Rule 15d-18
of the Exchange Act and Item 1122 of Regulation AB. The certification required by this paragraph may be replaced by any similar certification using other procedures or attestation standards which are now or in the future in use by servicers of
comparable assets or which otherwise comply with any rule, regulation, “no action” letter or similar guidance promulgated by the Commission. 

  

					
		  	6	  	 Transaction SUBI

Servicing Supplement (2020-A)

 Section 7.11 Annual Officer’s Certificate; Annual ERISA
Certification. 
 (a) The Servicer will deliver to the Rating Agencies, the Issuer and the Indenture Trustee on or before March 30th of each calendar year (or, if such day is not a Business Day, the next Business Day) beginning with March 30, 2021, an Officers’ Certificate substantially in the form of Exhibit A
providing such information as is required under Item 1123 of Regulation AB. 
 (b) The Servicer will deliver to the Rating Agencies, the
Issuer and the Indenture Trustee on or before April 30th of each calendar year (or, if such day is not a Business Day, the next Business Day) beginning with April 30, 2021, an Officers’
Certificate substantially in the form of Exhibit B with respect to the ERISA plans maintained or sponsored by the Servicer or any of its ERISA Affiliates. 

(c) For so long as the Transferor is filing reports under the Exchange Act with respect to the Issuer, the Servicer will deliver to the Issuer,
on or before April 30th of each calendar year (or, if such day is not a Business Day, the next Business Day) beginning with April 30, 2021, a report regarding the Servicer’s assessment
of compliance with the Servicing Criteria during the immediately preceding calendar year (or since the Closing Date, in the case of the first such report), and shall address the Servicing Criteria specified in Exhibit B of the Indenture or such
other criteria as mutually agreed upon by the Servicer and the Transferor, including disclosure of any material instance of non-compliance identified by the Servicer, as required under paragraph (b) of
Rule 13a-18, Rule 15d-18 of the Exchange Act and Item 1122 of Regulation AB. 

Section 7.12 Postmaturity Term Extension. Consistent with its Customary Servicing Practices,
the Servicer may, in its discretion, grant a Postmaturity Term Extension with respect to any Transaction Lease. If the Servicer grants a Postmaturity Term Extension with respect to a Transaction Lease, then the Servicer shall direct the SUBI Trustee
and the Servicer to reallocate the Transaction Unit related to such Transaction Lease from the Transaction SUBI Portfolio to the UTI Portfolio (if the Servicer is VCI) or to an Other SUBI designated by the Servicer (if the Servicer is not VCI) on
the Payment Date following the beginning of the Collection Period during which such Postmaturity Term Extension was granted. In consideration for such reallocation, the Servicer shall make a payment to the Issuer equal to the Securitization Value of
such Transaction Unit as of the end of the Collection Period preceding such Payment Date by depositing such amount into the Collection Account prior to 11:00 a.m., New York City time, on such Payment Date. 

Section 7.13 Insurance Policies; Additional Insureds. The Servicer shall cause all policies of
insurance required to be maintained pursuant to Section 2.9 of the Servicing Agreement to name the Transferor, the Issuer, the Owner Trustee and the Indenture Trustee as additional insureds. 

  

					
		  	7	  	 Transaction SUBI

Servicing Supplement (2020-A)

 Section 7.14 Security Deposits. In accordance
with Section 2.4 of the Servicing Agreement, on the Payment Date related to the Collection Period in which a Security Deposit (as defined in the Servicing Agreement) becomes a Collection, the Servicer shall deposit such
amounts in the Collection Account. 
 Section 7.15 Pull-Ahead and Other Early Termination Marketing
Programs. The Servicer may, in its discretion, with respect to any Included Unit, permit the Lessee under the related Lease to terminate such Lease prior to its scheduled termination date as part of a “pull-ahead” or other
marketing program; provided, however, that such early termination shall not be permitted unless all Pull-Ahead Amounts due and payable by the Lessee under such Lease on or before the date of such Lessee’s election to terminate the
Lease have been paid by or on behalf of such Lessee and are deposited in the Collection Account within the time period thereafter stated in Section 7.3 of this Transaction SUBI Servicing Supplement. Following such early
termination, the Servicer shall charge the related Lessee any applicable Excess Wear and Tear Charges and Excess Mileage Charges in accordance with Customary Servicing Practices with respect to Leases that are terminated early by the related Lessee
in the absence of a “pull-ahead” or other marketing program. 
 Section 7.16 1934 Act
Filings. The Origination Trust hereby authorizes the Servicer to prepare, sign, certify and file on behalf of the Origination Trust any and all reports, statements and information respecting the Origination Trust required to be filed or made
pursuant to the Exchange Act and the rules thereunder. 
 ARTICLE VIII 

TERMINATION OF SERVICER 

Section 8.1 Termination of Servicer as to Transaction SUBI Portfolio. 

(a) Upon the occurrence and continuation of any Servicer Replacement Event, the Servicer shall provide to the Indenture Trustee, the Issuer,
the Administrator and each Rating Agency prompt notice specifying such Servicer Replacement Event, together with a description of its efforts to perform its obligations. The Servicer may not resign except in accordance with
Section 2.10(a) of the Servicing Agreement. 
 (b) If a Servicer Replacement Event shall have occurred and be
continuing, the SUBI Trustee on behalf of the holder of the Transaction SUBI Certificate, shall, at the written direction of the Required Related Holders, by notice given to the Servicer, the Issuer, the Indenture Trustee and the Administrator,
terminate the rights and obligations of the Servicer under this Transaction SUBI Servicing Supplement and the Servicing Agreement with respect to the Transaction SUBI and the Included Units. In the event the Servicer is removed or resigns as
Servicer with respect to servicing the Transaction SUBI Assets, the Required Related Holders shall appoint a successor Servicer. With respect to any Servicer Replacement Event, the SUBI Trustee, acting at the direction of the Required Related
Holders, may waive any default of the Servicer. For purposes of this Section, so long as the Lien of the Indenture is in place, the “Required Related Holders” shall be deemed to be the Indenture Trustee, acting at the direction of
the Holders of not less than 66 2/3% of the Outstanding Notes and thereafter, the Issuer, acting at the direction of the Majority Certificateholders. 

  

					
		  	8	  	 Transaction SUBI

Servicing Supplement (2020-A)

 (c) Any successor Servicer shall be an established institution having a net worth of not
less than $100,000,000 and whose regular business includes the servicing of comparable motor vehicle lease contracts having an aggregate outstanding principal balance of not less than $50,000,000. 

(d) If replaced, the Servicer agrees that it will use commercially reasonable efforts to effect the orderly and efficient transfer of the
servicing of the Transaction Units to a successor Servicer. 
 (e) Upon the effectiveness of the assumption by the successor Servicer of its
duties pursuant to this Section 8.1, the successor Servicer shall be the successor in all respects to the Servicer in its capacity as Servicer under the Servicing Agreement with respect to the Transaction SUBI Portfolio,
and shall be subject to all the responsibilities, duties and liabilities relating thereto, except with respect to the obligations of the predecessor Servicer that survive its termination as Servicer as set forth in
Section 8.1(f). No Servicer shall resign or be relieved of its duties under the Servicing Agreement, as Servicer of the Transaction SUBI Portfolio, until a newly appointed Servicer for the Transaction SUBI Portfolio shall
have assumed the responsibilities and obligations of the resigning or terminated Servicer under this Transaction SUBI Servicing Supplement and provided in writing the information reasonably requested by the Transferor to comply with its reporting
obligations under the Exchange Act with respect to a replacement Servicer. In the event of a replacement of VCI as Servicer, the Required Related Holders shall cause the successor Servicer to agree to indemnify VCI against any losses, liabilities,
damages or expenses (including attorneys’ fees) as a result of the negligence or willful misconduct of such successor Servicer. The predecessor Servicer shall be entitled to receive reimbursement for any outstanding Advances made with respect
to the Transaction Units to the extent funds are available therefor in accordance with the Indenture. 
 (f) No termination or resignation of
the Servicer as to the Transaction SUBI Portfolio shall affect the obligations of the Servicer pursuant to Section 2.7(c) of the Servicing Agreement; provided, that following the replacement of the Servicer pursuant
to this Section 8.1, such Servicer shall have no duties, responsibilities or other obligations hereunder with respect to matters arising after such replacement. 

Section 8.2 No Effect on Other Parties. Upon any termination of the rights and powers of the
Servicer with respect to the Transaction SUBI Portfolio pursuant to Section 8.1 hereof, or upon any appointment of a successor Servicer with respect to the Transaction SUBI Portfolio, all the rights, powers, duties and
obligations of the Origination Trustees, the UTI Holder and the Settlor under the Origination Trust Agreement, the Servicing Agreement, the Transaction SUBI Supplement, any other SUBI Supplement, any other SUBI Servicing Agreement Supplement or any
other Origination Trust Document shall remain unaffected by such termination or appointment and shall remain in full force and effect thereafter, except as otherwise expressly provided herein or therein. 

  

					
		  	9	  	 Transaction SUBI

Servicing Supplement (2020-A)

 ARTICLE IX 

MISCELLANEOUS 

Section 9.1 Amendment. 

(a) Notwithstanding any provision of the Servicing Agreement, the Servicing Agreement, as supplemented by this Transaction SUBI Servicing
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 9.1. 

(b) Any term or provision of the Servicing Agreement or this Transaction SUBI Servicing Supplement may be amended by the Servicer, without the
consent of any other Person subject to satisfaction of one of the following conditions: (i) the Servicer delivers an Officer’s Certificate or an Opinion of Counsel to the Indenture Trustee to the effect that such amendment will not
materially and adversely affect the interests of the Noteholders or (ii) the Rating Agency Condition is satisfied with respect to such amendment. Without limiting the foregoing and subject to clause (c) below, any term or provision
of this Transaction SUBI Servicing Supplement may be amended by the Servicer with the consent of Noteholders evidencing not less than a majority of the Outstanding Note Amount, voting as a single Class. Notwithstanding the foregoing, 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. 

(c) Notwithstanding anything herein to the contrary (including clause (d) below), 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 Outstanding Note Amount, the Holders of which are
required to consent to any matter without the consent of the Holders of at least the percentage of the Outstanding Note Amount which were required to consent to such matter before giving effect to such amendment. 

(d) 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. 
 (e) Prior to the execution of any
amendment to this Transaction SUBI Servicing Supplement, the Servicer shall provide each Rating Agency with written notice of the substance of such amendment. No later than 10 Business Days after the execution of any amendment to this Transaction
SUBI Servicing Supplement, the Servicer shall furnish a copy of such amendment to each Rating Agency, the Origination Trustees, the Owner Trustee and the Indenture Trustee. 

(f) Prior to the execution of any amendment to this Transaction SUBI Servicing 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 Servicing Agreement or this Transaction SUBI Servicing Supplement and
that all conditions precedent to the execution and delivery of such amendment have been satisfied. 

  

					
		  	10	  	 Transaction SUBI

Servicing Supplement (2020-A)

 Section 9.2 Governing Law. THIS
TRANSACTION SUBI SERVICING SUPPLEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS,
WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF LAW (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK). 

Section 9.3 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, prepaid courier service, telecopier or electronic mail, and addressed in each case as set
forth on Schedule II to the Indenture or at such other address as any party shall have provided to the other parties in writing. Delivery shall occur only upon receipt or reported tender of such communication by an officer of the recipient
entitled to receive such notices located at the address of such recipient for notices hereunder. 
 Section 9.4
Third-Party Beneficiaries. The Issuer and the Indenture Trustee, as holder and pledgee, respectively, of the Transaction SUBI Certificate, and their respective successors, permitted assigns and pledgees are third-party
beneficiaries of the obligations of the parties hereto and may directly enforce the performance of any of such obligations hereunder. 

Section 9.5 Severability. If one or more of the provisions of this Transaction SUBI Servicing
Supplement 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 Transaction SUBI Servicing Supplement, 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 Transaction SUBI Servicing Supplement invalid or unenforceable in any respect. 

Section 9.6 Binding Effect. The provisions of the Servicing Agreement and this Transaction SUBI
Servicing Supplement, insofar as they relate to the Transaction SUBI Portfolio, shall be binding upon and inure to the benefit of the respective successors and permitted assigns of the parties hereto. 

Section 9.7 Headings. The article and section headings herein are for convenience of reference
only, and shall not limit or otherwise affect the meaning hereof. 
 Section 9.8 Execution in
Counterparts. This Transaction SUBI Servicing Supplement may be executed in any number of counterparts, including in counterparts executed via electronic signature, each of which so executed shall be deemed to be an original, but all
such counterparts shall together constitute but one and the same instrument. Delivery of an executed counterpart of a signature page of this Transaction SUBI Servicing Supplement by electronic transmission shall be effective as delivery of a
manually executed counterpart of this Transaction SUBI Servicing Supplement. 

  

					
		  	11	  	 Transaction SUBI

Servicing Supplement (2020-A)

 Section 9.9 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 Transaction SUBI Servicing Supplement and to better assure and confirm
unto the requesting party its rights, powers and remedies hereunder. 
 Section 9.10 Each SUBI Separate;
Assignees of SUBI. Each party hereto acknowledges and agrees (and each holder or pledgee of the Transaction SUBI Certificate, by virtue of its acceptance of such Transaction SUBI Certificate 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 § 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 the Transaction SUBI Portfolio, (c) except to the extent required by law, UTI Assets or SUBI Assets with respect to
any Other 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 Other 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) 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 Portfolio 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 9.11 No Petition. With respect to each Bankruptcy Remote Party, each party hereto (and
each holder and pledgee of the Transaction SUBI Certificate, by virtue of its acceptance of such Transaction SUBI Certificate or pledge thereof) covenants and agrees that, prior to the date which is one year and one day after payment in full of all
obligations under each Financing, (i) such party shall not 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 

  

					
		  	12	  	 Transaction SUBI

Servicing Supplement (2020-A)

 
seeking the appointment of an administrator, 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) such party shall not 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 9.12
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 SERVICING 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 9.3 OF THIS TRANSACTION SUBI SERVICING SUPPLEMENT;  

(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; AND 
 (e) TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY HERETO IRREVOCABLY WAIVES ALL
RIGHT OF TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BASED ON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS TRANSACTION SUBI SERVICING SUPPLEMENT, ANY OTHER TRANSACTION DOCUMENT, OR ANY MATTER ARISING HEREUNDER OR THEREUNDER.

  

					
		  	13	  	 Transaction SUBI

Servicing Supplement (2020-A)

 Section 9.13 Limitation of Liability of U.S.
Bank. Notwithstanding anything contained herein to the contrary, (a) this Transaction SUBI Servicing Supplement has been executed and delivered by U.S. Bank, not in its individual capacity but solely as Administrative Trustee and
as SUBI Trustee, 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 the Origination Trust is made and intended not as personal
representations, undertakings and agreements by U.S. Bank but is made and intended for the purpose for binding only the Origination Trust, (c) nothing herein contained shall be construed as creating any liability on U.S. Bank, individually or
personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (d) U.S. Bank has
made no investigation as to the accuracy or completeness of any representations and warranties made by the Origination Trust in this Transaction SUBI Servicing Supplement and (e) under no circumstances shall U.S. Bank be personally liable for
the payment of any indebtedness or expenses of the Origination Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Origination Trust under the Transaction Documents. 

Section 9.14 Information Requests. The parties hereto shall provide any information reasonably
requested by the Servicer, the Issuer, the Transferor or any of their Affiliates, in order to comply with or obtain more favorable treatment under any current or future law, rule, regulation, accounting rule or principle. 

Section 9.15 Regulation AB. The Servicer shall cooperate fully with the Transferor and the Issuer to
deliver to the Transferor and the Issuer (including any of its assignees or designees) any and all statements, reports, certifications, records and any other information necessary in the good faith determination of the Transferor or the Issuer to
permit the Transferor to comply with the provisions of Regulation AB and its reporting obligations under the Exchange Act, together with such disclosures relating to the Servicer and the Units, or the servicing of the Units, reasonably believed by
the Transferor to be necessary in order to effect such compliance. 
 Section 9.16 Electronic Signatures and
Transmission. 
 (a) For purposes of this Transaction SUBI Servicing Supplement, any reference to “written” or “in
writing” means any form of written communication, including, without limitation, electronic signatures, and any such written communication may be transmitted by electronic transmission. The term “electronic signature” shall mean any
electronic symbol or process attached to, or associated with, a contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record. Each of the parties hereto agrees that this Transaction SUBI
Servicing Supplement, any addendum or amendment hereto or any other document necessary for the consummation of the transactions contemplated by this Transaction SUBI Servicing Supplement may be accepted, executed or agreed to through the use of an
electronic signature in accordance with the E-Sign Act, UETA or any applicable state law. Each of the parties hereto are authorized to accept written instructions,

  

					
		  	14	  	 Transaction SUBI

Servicing Supplement (2020-A)

 
directions, reports, notices or other communications delivered by electronic transmission and shall not have any duty or obligation to verify or confirm that the Person sending instructions,
directions, reports, notices or other communications or information by electronic transmission is, in fact, a Person authorized to give such instructions, directions, reports, notices or other communications or information on behalf of the party
purporting to send such electronic transmission; and none of the parties hereto shall have any liability for any losses, liabilities, costs or expenses incurred or sustained by any party as a result of such reliance upon or compliance with such
instructions, directions, reports, notices or other communications or information delivered to such party, including, without limitation, the risk of such party acting on unauthorized instructions, notices, reports or other communications or
information, and the risk of interception and misuse by third parties. 
 (b) Any requirement in this Transaction SUBI Servicing Supplement
that a document, including this Transaction SUBI Servicing Supplement, is to be signed or authenticated by “manual signature” or similar language shall not be deemed to prohibit signature by facsimile or electronic signature and shall not
be deemed to prohibit delivery thereof by electronic transmission. 
 [SIGNATURES ON THE FOLLOWING PAGE] 

  

					
		  	15	  	 Transaction SUBI

Servicing Supplement (2020-A)

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

			
	VW CREDIT LEASING, LTD.
		
	By:	 	U.S. Bank National Association, not in its individual capacity but solely as Administrative Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	

  

					
		  	S-1	  	 Transaction SUBI

Servicing Supplement (2020-A)

 
			
	 VW CREDIT, INC.,
 as
Servicer

		
	By:	 	  

	Name:	 	David Rands
	Title:	 	Executive Vice President and Chief
		 	Financial Officer
		
	By:	 	  

	Name:	 	Jens Schreiber
	Title:	 	Treasurer

  

					
		  	S-2	  	 Transaction SUBI

Servicing Supplement (2020-A)

 
			
	 U.S. BANK NATIONAL ASSOCIATION,

not in its individual capacity but solely as SUBI Trustee

 
			
		
	By:	 	  

 
			
	Name:	 	
	Title:	 	

  

					
		  	S-3	  	 Transaction SUBI

Servicing Supplement (2020-A)

 EXHIBIT A 

FORM OF ANNUAL OFFICER’S CERTIFICATE 

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

calendar year beginning with March 30, 2021, pursuant to 

Section 7.11 of the Transaction SUBI Servicing Supplement) 

VW Credit, Inc. Annual Compliance Certificate 

Pursuant to Section 7.11 of the Transaction SUBI Servicing Supplement 

And Item 1123 of Regulation AB 
  

 
 VOLKSWAGEN AUTO
LEASE TRUST 2020-A 
  
  

The undersigned, duly authorized officers of VW Credit, Inc. (“VCI”), as Servicer (the “Servicer”), under the Transaction
SUBI Supplement 2020-A to Servicing Agreement dated as of December 3, 2020 (as amended and supplemented, or otherwise modified and in effect from time to time, the “Transaction SUBI Servicing
Supplement”), by and among VW Credit Leasing, Ltd., VCI, as Servicer, and U.S. Bank National Association, as SUBI Trustee, do hereby certify that: 
  

	1.	 A review of the activities of the Servicer during the period from
[                ], [    ] through December 31, [    ], and of its performance under the Transaction SUBI Servicing
Supplement was conducted under our supervision. 

  

	2.	 To the best of our knowledge, based on such review, the Servicer has, fulfilled all of its obligations under
the Transaction SUBI Servicing Supplement in all material respects throughout such period, [except that for the period beginning [                ],
[    ] through [                ], [    ] [describe each failure, if any, of the Servicer to fulfill its obligations under the
provisions of the Transaction SUBI Servicing Supplement in any material respect and the nature and status thereof]]. 

  

					
		  	A-1	  	 Transaction SUBI

Servicing Supplement (2020-A)

 IN WITNESS WHEREOF, each of the undersigned has duly executed this Certificate on behalf of the Servicer
this ____ day of ______, [___]. 
  

	
	  

	Name:
	Title:
	
	  

	Name:
	Title:

  

					
		  	A-2	  	 Transaction SUBI

Servicing Supplement (2020-A)

 EXHIBIT B 

FORM OF ANNUAL ERISA CERTIFICATION 

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

calendar year beginning with April 30, 2021, pursuant to 

Section 7.11 of the Transaction SUBI Servicing Supplement) 

VW CREDIT, INC. 
  

 
 VOLKSWAGEN AUTO
LEASE TRUST 2020-A 
  

 
 The
undersigned, duly authorized representatives of VW Credit, Inc. (“VCI”), as Servicer, pursuant to the Transaction SUBI Supplement 2020-A to Servicing Agreement dated as of December 3,
2020 (as amended and supplemented, or otherwise modified and in effect from time to time, the “Transaction SUBI Servicing Supplement”), by and among VW CREDIT LEASING, LTD., VCI, as Servicer, and U.S. BANK NATIONAL ASSOCIATION, not
in its individual capacity but solely as SUBI Trustee, do hereby certify that: 
  

	 	1.	 The undersigned are Authorized Officers of VCI. 

 

	 	2.	 As of the end of VCI’s preceding fiscal year, with respect to the ERISA plans subject to Title IV of
ERISA maintained or sponsored by VCI or any of VCI’s ERISA Affiliates (i.e., any member of VCI’s “controlled group,” within the meaning of Section 4001 of ERISA) (collectively, the “Plans”):

 (a) [Plan assets exceed the present value of accrued benefits][The present value of the accrued benefits exceeds plan
assets] under each of the Plans as of the close of the most recent Plan year, as required to be reported in the financial statements for such Plan filed with the most recent Form 5500 for such Plan (the “Most Recent Plan Financial
Statements”). 
 [Select from the following statements] 

[(b) [Neither VCI nor any of its ERISA Affiliates (i) anticipates that the value of the assets of any Plan it maintains would not be
sufficient to cover any Funding Target; or (ii) is contemplating benefit improvements with respect to any Plan then maintained by any such entity or the establishment of any new Plan, either of which would cause any such entity to maintain a
Plan with a Funding Target in excess of plan assets. The term “Funding Target” has the meaning set forth in section 430(d) of the Internal Revenue Code.][Describe any failure of the certifications in clauses (i) and (ii) to be true.]]

  

					
		  	B-1	  	 Transaction SUBI

Servicing Supplement (2020-A)

 [(c) If all of the Plans (other than a multiemployer Plan) were terminated (disregarding
any Plans with surpluses), the unfunded liabilities at such date with respect to such Plans, their participants or beneficiaries, and the PBGC, would not have exceeded [5%] of the consolidated net worth of Volkswagen AG or [25%] of the consolidated
net worth of Volkswagen Group of America, Inc. at such date.] 
 [(d) If VCI or any of VCI’s ERISA Affiliates withdrew or were to have
withdrawn from all multiemployer Plans at such date, the aggregate withdrawal liability would not have exceeded 5% of the consolidated net worth of Volkswagen AG or 25% of the consolidated net worth of Volkswagen Group of America, Inc. at such
date.] 
 [(e) There are no unpaid minimum required contributions with respect to any Plan as disclosed on the Most Recent Plan Financial
Statements.] 
 [(f) Describe any facts that would cause the statements in clauses (b), (c), (d), or (e) to be incorrect.] 

Capitalized terms used but not defined herein are used as defined in the Transaction SUBI Servicing Supplement. 

  

					
		  	B-2	  	 Transaction SUBI

Servicing Supplement (2020-A)

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

			
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:

  

					
		  	B-3	  	 Transaction SUBI

Servicing Supplement (2020-A)EX-10.3

 Exhibit 10.3 
  

 
  

SUBI SALE AGREEMENT 
 dated
as of December 3, 2020 
 between 

VW CREDIT, INC., 
 as Seller

 and 
 VOLKSWAGEN AUTO
LEASE/LOAN UNDERWRITTEN FUNDING, LLC, 
 as Buyer 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	1	 
			
	 SECTION 1.1
	 	Certain Terms	  	 	1	 
	 SECTION 1.2
	 	Other Definitional Provisions	  	 	2	 
	 SECTION 1.3
	 	Other Terms	  	 	2	 
	 SECTION 1.4
	 	Computation of Time Periods	  	 	2	 
		
	 ARTICLE II PURCHASE AND CONTRIBUTION
	  	 	2	 
			
	 SECTION 2.1
	 	Agreement to Sell and Contribute	  	 	2	 
	 SECTION 2.2
	 	Consideration and Payment	  	 	3	 
	 SECTION 2.3
	 	Representations, Warranties and Covenants	  	 	3	 
	 SECTION 2.4
	 	RESERVED	  	 	6	 
	 SECTION 2.5
	 	Protection of Title	  	 	6	 
	 SECTION 2.6
	 	Other Adverse Claims or Interests	  	 	7	 
		
	 ARTICLE III MISCELLANEOUS
	  	 	7	 
			
	 SECTION 3.1
	 	Transfers Intended as Sale; Security Interest	  	 	7	 
	 SECTION 3.2
	 	Specific Performance	  	 	8	 
	 SECTION 3.3
	 	Notices, Etc	  	 	8	 
	 SECTION 3.4
	 	CHOICE OF LAW	  	 	8	 
	 SECTION 3.5
	 	Counterparts	  	 	8	 
	 SECTION 3.6
	 	Amendment	  	 	8	 
	 SECTION 3.7
	 	Waivers	  	 	9	 
	 SECTION 3.8
	 	Entire Agreement	  	 	9	 
	 SECTION 3.9
	 	Severability of Provisions	  	 	9	 
	 SECTION 3.10
	 	Binding Effect; Assignability	  	 	10	 
	 SECTION 3.11
	 	Acknowledgment and Agreement	  	 	10	 
	 SECTION 3.12
	 	Cumulative Remedies	  	 	10	 
	 SECTION 3.13
	 	Non-petition Covenant	  	 	10	 
	 SECTION 3.14
	 	Each SUBI Separate; Assignees of SUBI	  	 	10	 
	 SECTION 3.15
	 	SUBMISSION TO JURISDICTION; WAIVER OF JURY TRIAL	  	 	11	 
	 SECTION 3.16
	 	Electronic Signatures and Transmission	  	 	12	 

 Schedule I Representations and Warranties with Respect to Units 

Schedule II Perfection Representations, Warranties and Covenants 
  

  
 -i- 

 SUBI SALE AGREEMENT 

THIS SUBI SALE AGREEMENT is made and entered into as of December 3, 2020 (as amended, supplemented or modified from time to time, this
“Agreement”) by VW CREDIT, INC., a Delaware corporation (the “Seller”), and VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC, a Delaware limited liability company (the “Buyer”). 

WITNESSETH: 
 WHEREAS, VW
Credit Leasing, Ltd. is a Delaware statutory trust (the “Origination Trust”) formed and operated pursuant to that certain Trust Agreement dated as of June 2, 1999 (as amended, modified or supplemented from time to time, the
“Origination Trust Agreement”) for the purpose, among other things, of acquiring title to Units; 
 WHEREAS, on the date
hereof, the Seller, as owner of the entire undivided interest in the Origination Trust (the “UTI Portfolio”), and U.S. Bank National Association, as UTI Trustee (in such capacity, the “UTI Trustee”), SUBI Trustee
(in such capacity, the “SUBI Trustee”) and Administrative Trustee (in such capacity, the “Administrative Trustee” and, together with the UTI Trustee, the SUBI Trustee and Wilmington Trust Company, as Delaware
Trustee (the “Delaware Trustee”), the “Origination Trustees”), are entering into that certain Transaction SUBI Supplement 2020-A to Origination Trust Agreement (as amended,
modified or supplemented from time to time, the “Transaction SUBI Supplement”) to create a special unit of beneficial interest (the “Transaction SUBI”); and 

WHEREAS, the Seller desires to sell to the Buyer, and the Buyer desires to acquire, the Seller’s entire interest in (A) the
beneficial interest in the Units allocated to the Transaction SUBI (the “Transaction SUBI Portfolio”) and (B) the certificate issued as evidence thereof (the “Transaction SUBI Certificate”); 

NOW, THEREFORE, in consideration of the premises and the mutual agreements set forth herein, the parties hereto agree as follows: 

ARTICLE I 
 DEFINITIONS 

SECTION 1.1 Certain Terms. Terms defined in Appendix A to the Indenture, dated as of the date hereof (as amended, supplemented
or modified from time to time, the “Indenture”), between Volkswagen Auto Lease Trust 2020-A, a Delaware statutory trust (the “Issuer”), and Citibank, N.A., a national banking
association, as indenture trustee, are, unless otherwise defined herein or unless the context otherwise requires, used herein as defined therein. In addition, the following terms shall have the following meanings (such terms applicable to both the
singular and plural form): 
 “Allocation Price” means, with respect to any Unit, an amount equal to 100% of the
Securitization Value thereof as of the Cut-Off Date. 

  

					
		  		  	SUBI Sale Agreement (2020-A)

 “SUBI Allocation Price” means, with respect to all Units to be allocated to
the Transaction SUBI in accordance with Section 2.1 on the Closing Date, the aggregate of the Allocation Prices for all Units to be so allocated on such date. 

SECTION 1.2 Other Definitional Provisions. 

(a) Each term defined in the singular form in this Agreement shall mean the plural thereof when the plural form of such term is used in this
Agreement or any certificate, report or other document made or delivered pursuant hereto, and each term defined in the plural form shall mean the singular thereof when the singular form of such term is used herein or therein. 

(b) The words “hereof”, “herein”, “hereunder” and similar terms when used in this Agreement shall refer to this
Agreement as a whole and not to any particular provision of this Agreement. Article, section, subsection, schedule and exhibit references herein are references to articles, sections, subsections, schedules and exhibits to or of this Agreement unless
otherwise specified. The term “include” and all variations thereon shall mean “include without limitation” and the term “or” shall include “and/or”. 

SECTION 1.3 Other Terms. All accounting terms not specifically defined herein or in Appendix A to the Indenture shall be
construed in accordance with GAAP. All terms used in Article 9 of the UCC and not specifically defined herein or in Appendix A to the Indenture are used herein as defined in such Article 9. 

SECTION 1.4 Computation of Time Periods. Unless otherwise stated in this Agreement, in the computation of a period of time from a
specified date to a later specified date, the word “from” means “from and including” and the words “to” and “until” each mean “to but excluding”. 

ARTICLE II 
 PURCHASE AND
CONTRIBUTION 
 SECTION 2.1 Agreement to Sell and Contribute. On the terms and subject to the conditions set forth in this Agreement,
on the date hereof, the Seller hereby: 
 (a) transfers, assigns, sets over, sells and otherwise conveys to the Buyer, and the Buyer hereby
purchases from the Seller, all of the Seller’s right, title and interest in, to and under the Transaction SUBI Certificate and the related beneficial interest in the Included Units and the Transaction SUBI, including, but not limited to, all
Collections thereunder after the Cut-Off Date; and 
 (b) directs the UTI Trustee and the Servicer to
identify from the Origination Trust Assets allocable to the UTI Portfolio, and to allocate to the Transaction SUBI Portfolio represented by the Transaction SUBI Certificate, the Transaction SUBI Assets identified in
Section 11.1 of the Transaction SUBI Supplement. 

  

					
		  	2	  	SUBI Sale Agreement (2020-A)

 SECTION 2.2 Consideration and Payment. In consideration of the transfer of the
Transaction SUBI, the Transaction SUBI Certificate and the other property conveyed to the Buyer pursuant to Section 2.1 on the Closing Date, the Buyer shall pay to the Seller on the Closing Date the SUBI Allocation Price
with respect thereto by (i) making a cash payment to the Seller in an amount equal to $ 995,233,460.11 and (ii) if the SUBI Allocation Price exceeds the amount of any cash payment for the account of the Seller on such day pursuant to
clause (i), such excess shall automatically be considered to have been contributed to the Buyer by the Seller as a capital contribution. 

SECTION 2.3 Representations, Warranties and Covenants. 

(a) The Seller hereby represents and warrants to the Buyer that, as of the date hereof: 

(i) Existence and Power. The Seller is a corporation and the Origination Trust is a statutory trust, in each case
validly existing and in good standing under the laws of its state of organization, and each of the Seller and the Origination Trust has all power and authority required to carry on its business as it is now conducted. Each of the Seller and the
Origination Trust has obtained all necessary licenses and approvals, in all jurisdictions where the failure to do so would materially and adversely affect the business, properties, financial condition or results of operations of the Seller or the
Origination Trust, respectively, taken as a whole. 
 (ii) Corporate Authorization and No Contravention. The
execution, delivery and performance by each of the Seller and the Origination Trust of each Transaction Document to which it is a party (i) have been duly authorized by all necessary corporate action, (ii) do not contravene or constitute a
default under (A) any applicable law, rule or regulation, (B) its organizational documents or (C) any agreement, contract, order or other instrument to which it is a party or its property is subject and (iii) will not result in
any Adverse Claim on the Transaction SUBI or give cause for the acceleration of any indebtedness of the Seller or the Origination Trust. 

(iii) No Consent Required. No approval, authorization or other action by, or filing with, any Governmental Authority is
required in connection with the execution, delivery and performance by the Seller or the Origination Trust of any Transaction Document other than UCC filings and other than approvals and authorizations that have previously been obtained and filings
which have previously been made. 
 (iv) Binding Effect. Each Transaction Document to which the Seller or the
Origination Trust is a party constitutes the legal, valid and binding obligation of such Person enforceable against such Person in accordance with its terms, except as limited by bankruptcy, insolvency, or other similar laws of general application
relating to or affecting the enforcement of creditors’ rights generally and subject to general principles of equity. 

(v) Ownership and Transfer of Transaction SUBI. Immediately preceding its sale of the Transaction SUBI and the
Transaction SUBI Certificate to the Buyer, the Seller was the owner of the Transaction SUBI and the Transaction SUBI Certificate, free and clear of any Adverse Claim, and after such sale of the Transaction SUBI and the Transaction SUBI Certificate
to the Buyer, the Buyer shall at all times be entitled, with respect to the Transaction SUBI and the Transaction SUBI Certificate, to all of the rights and benefits of a holder of a SUBI and a SUBI Certificate under the Origination Trust Documents.

  

					
		  	3	  	SUBI Sale Agreement (2020-A)

 (vi) Applicable Law. Each of the Seller and the Origination Trust is
in compliance with all Applicable Laws, the failure to comply with which would have a material adverse effect. 
 (vii)
Litigation. There are no actions, suits or Proceedings pending or, to the knowledge of the Seller, threatened against the Seller before or by any Governmental Authority that (i) question the validity or enforceability of this Agreement
or adversely affect the ability of the Seller to perform its obligations hereunder or (ii) individually or in the aggregate would have a material adverse effect. Neither the Seller nor the Origination Trust is in default with respect to any
orders of any Governmental Authority, the default under which individually or in the aggregate would have a material adverse effect. 

(viii) Status of Seller. The Seller is not required to be registered as an “investment company” within the
meaning of the Investment Company Act of 1940, as amended. 
 (ix) Status of Origination Trust. The Origination Trust
is not required to be registered as an “investment company” within the meaning of the Investment Company Act of 1940, as amended. 

(x) No Adverse Selection. The Units included in the Transaction SUBI Portfolio were selected using selection procedures
that were not known or intended by the Seller to be adverse to the Buyer. 
 (xi) Valid Assignment. The Transaction
Leases were not originated in, and are not subject to the laws of, any jurisdiction under which the transfer and assignment of a beneficial interest in any related Transaction Vehicle pursuant to a transfer of the Transaction SUBI Certificate or the
Transaction SUBI or any other transaction contemplated hereunder to occur on or about the Closing Date, is unlawful, void or voidable. The Transaction Vehicles are not subject to the laws of any jurisdiction under which the transfer and assignment
of a beneficial interest in the Transaction Vehicles pursuant to transfer of the Transaction SUBI Certificate or the Transaction SUBI, or any other transaction contemplated hereunder to occur on or about the Closing Date, is unlawful, void or
voidable. 
 (xii) Location of Leases. As of the Closing Date, the files and records for the Units included in the
Transaction SUBI Portfolio are maintained at the offices of the Servicer. 
 (xiii) Accuracy of Information. The
information relating to each Unit set forth on Schedule 1 to the Transaction SUBI Supplement is true and correct in all material respects. 

  

					
		  	4	  	SUBI Sale Agreement (2020-A)

 (xiv) Chattel Paper. The Transaction Lease of each Unit is either
“tangible chattel paper” or “electronic chattel paper” within the meaning of the applicable UCC and (A) if the Transaction Lease is tangible chattel paper, there is only one executed or otherwise authenticated original of
such Transaction Lease or (B) if the Transaction Lease is electronic chattel paper, there is only one authoritative copy of the Transaction Lease. If the Transaction Lease constitutes electronic chattel paper, the Origination Trust has
“control” of such electronic chattel paper within the meaning of Section 9-105 of the applicable UCC. 

The representations and warranties set forth in this Section 2.3(a) shall speak only as of the date hereof and shall
survive the sale of the Transaction SUBI hereunder. 
 (b) The Seller hereby represents and warrants to the Buyer with respect to each Unit
being allocated to the Transaction SUBI on the Closing Date that, as of the Cut-Off Date or the Closing Date, as applicable, the representations and warranties set forth on Schedule I hereto were true
and correct with respect to such Unit. The representation and warranties set forth on Schedule I hereto shall survive the allocation of such Unit hereunder. The Seller hereby agrees that the Issuer shall have the right to enforce any and all
rights under this Agreement assigned to the Issuer under the SUBI Transfer Agreement, including the right to cause the Seller to direct the SUBI Trustee and the Servicer to reallocate any applicable Transaction Units with respect to which it is in
breach of any of its representation and warranties set forth in Schedule I from the Transaction SUBI Portfolio to the UTI Portfolio, directly against the Seller as though the Issuer were a party to this Agreement, and the Issuer shall not be
obligated to exercise any such rights indirectly through the Buyer. 
 (c) Upon discovery by the Buyer or the Seller of a breach of any of
the representations and warranties set forth in Section 2.3(b) at the time such representations and warranties were made which materially and adversely affects the interests of the Issuer or the Noteholders in the related
Transaction Unit, the party discovering such breach shall give prompt written notice thereof to the other parties, provided that, delivery of the Servicer Certificate shall be deemed to constitute prompt notice by the Seller and the Buyer of
such breach. Any inaccuracy in the representations or warranties shall be deemed not to constitute a breach if such inaccuracy does not affect the ability of the Issuer to receive or retain payment in full on the beneficial interest in the
applicable Lease and related Vehicle. If the Seller does not correct or cure such breach prior to the end of the Collection Period following the Collection Period in which the Seller was notified of such breach, then the Seller shall direct the SUBI
Trustee and the Servicer to reallocate any applicable Transaction Units from the Transaction SUBI Portfolio to the UTI Portfolio on the Payment Date following the end of such Collection Period. In consideration for such reallocation, the Seller
shall make a payment to the Buyer equal to the Securitization Value of such Transaction Unit as of the beginning of the related Collection Period preceding such Payment Date by depositing such amount into the Collection Account prior to
11:00 a.m., New York City time, on such Payment Date. It is understood and agreed that the obligation of the Seller to reallocate any Transaction Unit as to which such a breach has occurred and is continuing as described above and to make the
related reallocation payment shall constitute the sole remedy respecting such breach available to the Buyer. 

  

					
		  	5	  	SUBI Sale Agreement (2020-A)

 (d) Perfection Representations. The representations, warranties and covenants set
forth on Schedule II hereto shall be a part of this Agreement for all purposes. Notwithstanding any other provision of this Agreement or any other Transaction Document, the perfection representations contained in Schedule II shall be
continuing, and remain in full force and effect until such time as all obligations under the Indenture have been finally and fully paid and performed. The parties to this Agreement: (i) shall not waive any of the perfection representations
contained in Schedule II; (ii) shall provide the Rating Agencies with prompt written notice of any breach of the perfection representations contained in Schedule II; and (iii) shall not waive a breach of any of the perfection
representations contained in Schedule II. 
 SECTION 2.4 RESERVED. 

SECTION 2.5 Protection of Title. 

(a) Filings. The Seller shall file such financing statements and cause to be filed such continuation and other statements, all in such
manner and in such places as may be required by law fully to preserve, maintain and protect the interest of the Buyer under this Agreement in the Transaction SUBI Certificate and the Transaction SUBI. The Seller shall deliver (or cause to be
delivered) to the Buyer file-stamped copies of, or filing receipts for, any document filed as provided above, as soon as available following such filing. 

(b) Name Change. The Seller shall not change its name, identity or corporate structure in any manner that would, could, or might make
any financing statement or continuation statement filed by the Seller in accordance with Section 2.5(a) “seriously misleading” within the meaning of Section 9-506, 9-507 and 9-508 of the UCC, unless it shall have given the Buyer at least five Business Days’ prior written notice thereof and shall have taken all action prior to making
such change (or shall have made arrangements to take such action substantially simultaneously with such change, if it is not practicable to take such action in advance) reasonably necessary or advisable in the opinion of the Buyer to amend all
previously filed financing statements or continuation statements described in Section 2.5(a). 
 (c) Sales
Tax. All sales, property, use, transfer or other similar taxes due and payable upon the purchase of the Transaction SUBI and the beneficial interest in the Units included in the Transaction SUBI Portfolio by the Buyer will be paid or provided
for by the Seller. 
 (d) Location; Maintenance of Offices. The Seller shall give the Buyer at least five Business Days’ prior
written notice of any change of location of the Seller for purposes of Section 9-307 of the UCC and shall have taken all action prior to making such change (or shall have made arrangements to take such
action substantially simultaneously with such change, if it is not practicable to take such action in advance) reasonably necessary or advisable in the opinion of the Buyer to amend all previously filed financing statements or continuation
statements described in Section 2.5(a). The Seller shall at all times maintain each office from which it services Origination Trust Assets and its principal executive office within the United States of America. 

  

					
		  	6	  	SUBI Sale Agreement (2020-A)

 SECTION 2.6 Other Adverse Claims or Interests. Except for the conveyances and grants
of security interests pursuant to this Agreement and the other Transaction Documents, the Seller shall not sell, pledge, assign or transfer the Transaction SUBI to any other Person, or grant, create, incur, assume or suffer to exist any Adverse
Claim on any interest therein, and the Seller shall defend the right, title and interest of the Buyer in, to and under the Transaction SUBI against all claims of third parties claiming through or under the Seller. 

ARTICLE III 
 MISCELLANEOUS 

SECTION 3.1 Transfers Intended as Sale; Security Interest. 

(a) Each of the parties hereto expressly intends and agrees that the transfers contemplated and effected under this Agreement are complete and
absolute sales and contributions rather than pledges or assignments of only a security interest and shall be given effect as such for all purposes. It is further the intention of the parties hereto that the Transaction SUBI and the Transaction SUBI
Certificate shall not be part of the Seller’s estate in the event of a bankruptcy or insolvency of the Seller. The sales and contributions by the Seller of the Transaction SUBI and the Transaction SUBI Certificate and the beneficial interest in
the Units allocated thereto hereunder are and shall be without recourse to, or representation or warranty (express or implied) by, the Seller, except as otherwise specifically provided herein. The limited rights of recourse specified herein against
the Seller are intended to provide a remedy for breach of representations and warranties relating to the condition of the property sold, rather than to the collectibility of underlying indebtedness. 

(b) Notwithstanding the foregoing, in the event that the Transaction SUBI and the Transaction SUBI Certificate are held to be property of the
Seller, or if for any reason this Agreement is held or deemed to create a security interest in the Transaction SUBI and the Transaction SUBI Certificate, then it is intended that: 

(i) This Agreement shall be deemed to be a security agreement within the meaning of Articles 8 and 9 of the New York UCC and
the UCC of any other applicable jurisdiction; 
 (ii) The conveyance provided for in Section 2.1
shall be deemed to be a grant by the Seller to the Buyer of a security interest in all of its right (including the power to convey title thereto), title and interest, whether now owned or hereafter acquired, in and to the Transaction SUBI and the
Transaction SUBI Certificate, to secure the performance of the obligations of the Seller hereunder; 
 (iii) The possession
by the Buyer or its agent of the Transaction SUBI Certificate shall be deemed to be “possession by the secured party” or possession by the purchaser or a Person designated by such purchaser, for purposes of perfecting the security interest
pursuant to the New York UCC and the UCC of any other applicable jurisdiction; and 

  

					
		  	7	  	SUBI Sale Agreement (2020-A)

 (iv) Notifications to persons holding such property, and acknowledgments,
receipts or confirmations from persons holding such property, shall be deemed to be notifications to, or acknowledgments, receipts or confirmations from, bailees or agents (as applicable) of the Buyer for the purpose of perfecting such security
interest under applicable law. 
 SECTION 3.2 Specific Performance. Either party may enforce specific performance of this Agreement.

 SECTION 3.3 Notices, Etc. 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, prepaid courier service, telecopier or electronic mail, and addressed in each case as set forth on Schedule II
to the Indenture or at such other address as any party shall have provided to the other parties in writing. Delivery shall occur only upon receipt or reported tender of such communication by an officer of the recipient entitled to receive such
notices located at the address of such recipient for notices hereunder. 
 SECTION 3.4 CHOICE OF LAW. THIS AGREEMENT SHALL
BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS, WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF
LAW (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK). 

SECTION 3.5 Counterparts. This Agreement may be executed in any number of counterparts, including in counterparts executed via
electronic signature, each of which so executed shall be deemed to be an original, but all of such counterparts shall together constitute but one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement by
electronic transmission shall be effective as delivery of a manually executed counterpart of this Agreement. 
 SECTION 3.6
Amendment. 
 (a) Any term or provision of this Agreement may be amended by the parties hereto without the consent of the Indenture
Trustee, any Noteholder, the Issuer, the Owner Trustee or any other Person subject to satisfaction of one of the following conditions: (i) the Seller, the Buyer or the Servicer delivers an Officer’s Certificate or an Opinion of Counsel to
the Indenture Trustee to the effect that such amendment will not materially and adversely affect the interests of the Noteholders or (ii) the Rating Agency Condition is satisfied with respect to such amendment. Without limiting the foregoing
and subject to clause (b) below, any term or provision of this Agreement may be amended by the Seller with the consent of Noteholders evidencing not less than a majority of the Outstanding Note Amount, voting as a single class.
Notwithstanding the foregoing, any amendment that materially and adversely affects the interests of the Certificateholders, the Indenture Trustee or the Owner Trustee shall require the prior written consent of the Persons whose interests are
materially and adversely affected. The consent of the Indenture Trustee or the Owner Trustee shall be deemed to have been given if the Servicer does not receive a written objection from such Person within 10 Business Days after a written request for
such consent shall have been given. 

  

					
		  	8	  	SUBI Sale Agreement (2020-A)

 (b) Notwithstanding anything herein to the contrary (including
clause (c) below), 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 Outstanding Note Amount, the Holders of which are required to consent to any matter without the consent of the Holders of at least the percentage of the Outstanding Note Amount which were required to consent to
such matter before giving effect to such amendment. 
 (c) 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. 

(d) Prior to the execution of any amendment to this Agreement, the Buyer shall provide each Rating Agency with written notice of the substance
of such amendment. No later than 10 Business Days after the execution of any amendment to this Agreement, the Buyer shall furnish a copy of such amendment to each Rating Agency, the Issuer, the Owner Trustee and the Indenture Trustee. 

(e) Prior to the execution of any amendment to this Agreement, the Owner Trustee and the Indenture Trustee 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 this Agreement and that all conditions precedent to the execution and delivery of such amendment have been satisfied. 

SECTION 3.7 Waivers. No failure or delay on the part of the Buyer, the Servicer, the Seller, the Issuer or the Indenture Trustee in
exercising any power or right hereunder (to the extent such Person has any power or right hereunder) shall operate as a waiver thereof, nor shall any single or partial exercise of any such power or right preclude any other or further exercise
thereof or the exercise of any other power or right. No notice to or demand on the Buyer or the Seller in any case shall entitle it to any notice or demand in similar or other circumstances. No waiver or approval by either party under this Agreement
shall, except as may otherwise be stated in such waiver or approval, be applicable to subsequent transactions. No waiver or approval under this Agreement shall require any similar or dissimilar waiver or approval thereafter to be granted hereunder.

 SECTION 3.8 Entire Agreement. The Transaction Documents contain a final and complete integration of all prior expressions by the
parties hereto with respect to the subject matter thereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter thereof, superseding all prior oral or written understandings. There are no unwritten
agreements among the parties. 
 SECTION 3.9 Severability of Provisions. If any one or more of the covenants, agreements, provisions
or terms of this Agreement 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 Agreement and shall in
no way affect the validity or enforceability of the other provisions of this Agreement. 

  

					
		  	9	  	SUBI Sale Agreement (2020-A)

 SECTION 3.10 Binding Effect; Assignability. This Agreement shall be binding upon and
inure to the benefit of the Buyer and the Seller and their respective successors and permitted assigns. The Seller may not assign any of its rights hereunder or any interest herein without the prior written consent of the Buyer, except as provided
in Section 3.11 or as otherwise herein specifically provided. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and
effect until such time as the parties hereto shall agree. 
 SECTION 3.11 Acknowledgment and Agreement. By execution below, the
Seller expressly acknowledges and consents to the sale of the Transaction SUBI Certificate and the Transaction SUBI and the assignment of all rights and obligations of the Seller related thereto by the Buyer to the Issuer pursuant to the SUBI
Transfer Agreement and the mortgage, pledge, assignment and grant of a security interest in the Transaction SUBI Certificate and the Transaction SUBI by the Issuer to the Indenture Trustee pursuant to the Indenture for the benefit of the
Noteholders. In addition, the Seller hereby acknowledges and agrees that for so long as the Notes are outstanding, the Indenture Trustee will have the right to exercise all powers, privileges and claims of the Buyer under this Agreement in the event
that the Buyer shall fail to exercise the same. 
 SECTION 3.12 Cumulative Remedies. The remedies herein provided are cumulative and
not exclusive of any remedies provided by law. 
 SECTION 3.13 Non-petition Covenant. With
respect to each Bankruptcy Remote Party, each party hereto covenants and agrees that, prior to the date which is one year and one day after payment in full of all obligations under each Financing (i) such party hereto shall not 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) such party shall not 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. Each of the parties hereto agrees that, prior to the date which is one year and one day after the
payment in full of all obligations under each Financing, it will not institute against, or join any other Person in instituting against, any Bankruptcy Remote Party an action in bankruptcy, reorganization, arrangement, insolvency or liquidation
Proceedings or similar Proceeding under the laws of the United States or any State of the United States. 
 SECTION 3.14 Each SUBI
Separate; Assignees of SUBI. Each party hereto acknowledges and agrees (and each holder or pledgee of the Transaction SUBI Certificate, by virtue of its acceptance of such Transaction SUBI Certificate or pledge thereof, acknowledges and agrees)
that (a) the Transaction SUBI is a separate series of the Origination Trust as provided 

  

					
		  	10	  	SUBI Sale Agreement (2020-A)

 
in Section 3806(b)(2) of Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code § 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 the Transaction SUBI Portfolio, (c) except to the extent required by law, UTI Assets or SUBI Assets with respect to any Other 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 Other 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) 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 Portfolio 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 3.15 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 AGREEMENT 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; 

  

					
		  	11	  	SUBI Sale Agreement (2020-A)

 (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 3.3 OF THIS AGREEMENT; 

(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; AND 
 (e) TO THE EXTENT PERMITTED BY APPLICABLE LAW, WAIVES ALL RIGHT OF TRIAL BY JURY IN ANY
ACTION, PROCEEDING OR COUNTERCLAIM BASED ON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT, ANY OTHER TRANSACTION DOCUMENT, OR ANY MATTER ARISING HEREUNDER OR THEREUNDER. 

SECTION 3.16 Electronic Signatures and Transmission. 

(a) For purposes of this Agreement, any reference to “written” or “in writing” means any form of written communication,
including, without limitation, electronic signatures, and any such written communication may be transmitted by electronic transmission. The term “electronic signature” shall mean any electronic symbol or process attached to, or associated
with, a contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record. Each of the parties hereto agrees that this Agreement, any addendum or amendment hereto or any other document necessary
for the consummation of the transactions contemplated by this Agreement may be accepted, executed or agreed to through the use of an electronic signature in accordance with the E-Sign Act, UETA or any
applicable state law. Each of the parties hereto are authorized to accept written instructions, directions, reports, notices or other communications delivered by electronic transmission and shall not have any duty or obligation to verify or confirm
that the Person sending instructions, directions, reports, notices or other communications or information by electronic transmission is, in fact, a Person authorized to give such instructions, directions, reports, notices or other communications or
information on behalf of the party purporting to send such electronic transmission; and none of the parties hereto shall have any liability for any losses, liabilities, costs or expenses incurred or sustained by any party as a result of such
reliance upon or compliance with such instructions, directions, reports, notices or other communications or information delivered to such party, including, without limitation, the risk of such party acting on unauthorized instructions, notices,
reports or other communications or information, and the risk of interception and misuse by third parties. 
 (b) Any requirement in this
Agreement that a document, including this Agreement, is to be signed or authenticated by “manual signature” or similar language shall not be deemed to prohibit signature by facsimile or electronic signature and shall not be deemed to
prohibit delivery thereof by electronic transmission. 
 [Signature Pages Follow] 

  

					
		  	12	  	SUBI Sale Agreement (2020-A)

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first written above. 
  

			
	VW CREDIT, INC.
		
	By:	 	  

	Name: David Rands
	Title:   Executive Vice President and Chief
		 	    Financial Officer
		
	By:	 	  

	Name: Jens Schreiber
	Title:   Treasurer

  

					
		  	S-1	  	SUBI Sale Agreement (2020-A)

 
			
	VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC

 
			
		
	By:	 	  

 
			
	Name: David Rands
	Title:   Chief Financial Officer

 
			
		
	By:	 	  

 
			
	Name: Jens Schreiber
	Title:   Treasurer

  

					
		  	S-2	  	SUBI Sale Agreement (2020-A)

 SCHEDULE I 

REPRESENTATIONS AND WARRANTIES 

WITH RESPECT TO UNITS 
 1.
Ownership of the Units. 
 (a) As of the Cut-Off Date, good and valid ownership of each Unit
will be validly and effectively vested in the Origination Trust, free and clear of all Adverse Claims, except for Permitted Liens (and no Adverse Claim, other than an Adverse Claim of the type described in clause (1)(f) of the definition of
Permitted Liens, shall be noted on the certificate of title for any Vehicle included in any such Unit). 
 (b) As of the Closing Date, good
and valid ownership of the beneficial interest in each Unit will be validly and effectively conveyed to, and vested in the Buyer, free and clear of all Adverse Claims, except for Permitted Liens. 

2. Event of Loss. As of the Cut-Off Date, to the Seller’s knowledge, no Vehicle included in
any such Unit was subject to an event which would constitute an Event of Loss. 
 3. Eligible Units. As of the Cut-Off Date, each Unit included in the Transaction SUBI Portfolio was an Eligible Unit. 
 4.
Amortization of Leases. The Lease included in such Unit was written on a constant yield basis and provides for substantially equal monthly payments, such that, at the end of the lease term, the capitalized cost has been amortized to an amount
equal to the Stated Residual Value of the related Vehicle. 
 5. Valid Assignment. No Transaction Lease was originated in, or is
subject to the laws of, any jurisdiction under which the transfer and assignment of a beneficial interest in such Transaction Vehicle pursuant to a transfer of the Transaction SUBI Certificate or the Transaction SUBI or any other transaction
contemplated hereunder to occur on or about the Closing Date, is unlawful, void or voidable. No Transaction Vehicle is subject to the laws of any jurisdiction under which the transfer and assignment of a beneficial interest in such Vehicle
pursuant to transfer of the Transaction SUBI Certificate or the Transaction SUBI, or any other transaction contemplated hereunder to occur on or about the Closing Date, is unlawful, void or voidable. 

6. Aggregate Securitization Value. As of the Cut-Off Date, the aggregate Securitization Value of
all Transaction Units was $1,162,803,597.32. 
 7. Location of Leases. As of the Closing Date, the files and records for each Unit
included in the Transaction SUBI Portfolio are maintained at the offices of the Servicer. 
 8. Accuracy of Information. The
information relating to each Unit set forth on Schedule 1 to the Transaction SUBI Supplement is true and correct in all material respects. 

  

					
		  	I-1	  	

 SCHEDULE II 

PERFECTION REPRESENTATIONS, WARRANTIES AND COVENANTS 

In addition to the representations, warranties and covenants contained in the SUBI Sale Agreement, the Seller hereby represents, warrants, and
covenants to the Buyer as follows on the Closing Date: 
 1. The SUBI Sale Agreement creates a valid and continuing security interest (as defined in the
applicable UCC) in the Transaction SUBI Certificate in favor of the Buyer, which security interest is prior to all other Adverse Claims and is enforceable as such as against creditors of and purchasers from the Seller. 

2. The Transaction SUBI Certificate constitutes a “general intangible,” “instrument,” “certificated security,” or
“tangible chattel paper,” within the meaning of the applicable UCC. 
 3. The Seller owns and has good and marketable title to the
Transaction SUBI Certificate free and clear of any Adverse Claim, claim or encumbrance of any Person, excepting only liens for taxes, assessments or similar governmental charges or levies incurred in the ordinary course of business that are not yet
due and payable or as to which any applicable grace period shall not have expired, or that are being contested in good faith by proper proceedings and for which adequate reserves have been established, but only so long as foreclosure with respect to
such a lien is not imminent and the use and value of the property to which the Adverse Claim attaches is not impaired during the pendency of such proceeding. 

4. The Seller has received all consents and approvals to the sale of the Transaction SUBI Certificate hereunder to the Buyer required by the terms of the
Transaction SUBI Certificate to the extent that it constitutes an instrument or a payment intangible. 
 5. The Seller has received all consents and
approvals required by the terms of the Transaction SUBI Certificate, to the extent that it constitutes a securities entitlement, certificated security or uncertificated security, to the transfer to the Buyer of its interest and rights in the
Transaction SUBI Certificate hereunder. 
 6. The Seller has caused or will have caused, within ten days after the effective date of the SUBI Sale Agreement,
the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the sale of the Transaction SUBI Certificate from the Seller to the Buyer and the security
interest in the Transaction SUBI Certificate granted to the Buyer hereunder. 
 7. To the extent that the Transaction SUBI Certificate constitutes an
instrument or tangible chattel paper, all original executed copies of each such instrument or tangible chattel paper have been delivered to the Buyer. 
 8.
Other than the transfer of the Transaction SUBI Certificate from the Seller to the Buyer under the SUBI Sale Agreement and from the Buyer to the Issuer under the SUBI Transfer Agreement and the security interest granted to the Indenture Trustee
pursuant to the Indenture, the Seller has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed 

  

					
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the Transaction SUBI Certificate. The Seller has not authorized the filing of, nor is aware of, any financing statements against the Seller that include a description of collateral covering the
Transaction SUBI Certificate other than any financing statement relating to any security interest granted pursuant to the Transaction Documents or that has been terminated. 

9. No instrument or tangible chattel paper that constitutes or evidences the Transaction SUBI Certificate has any marks or notations indicating that it has
been pledged, assigned or otherwise conveyed to any Person other than the Indenture Trustee. 

  

					
		  	II-2

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