Document:

<PAGE>

                                                                    EXHIBIT 10.2

================================================================================

                               PURCHASE AGREEMENT

                           dated as of [____________]

                                     between

                                 VW CREDIT, INC.

                                       and

                VOLKSWAGEN AUTO LEASE UNDERWRITTEN FUNDING, LLC

================================================================================

                                                              Purchase Agreement

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                            Page
                                                                            ----
<S>                                                                         <C>
ARTICLE I DEFINITIONS AND USAGE .........................................     1
   SECTION 1.1  Definitions .............................................     1
   SECTION 1.2  Other Interpretive Provisions ...........................     1

ARTICLE II PURCHASE .....................................................     2
   SECTION 2.1  Agreement to Sell and Contribute on the Closing Date ....     2
   SECTION 2.2  Consideration and Payment ...............................     2

ARTICLE III REPRESENTATIONS, WARRANTIES AND COVENANTS ...................     2
   SECTION 3.1  Representations and Warranties of VCI ...................     2
   SECTION 3.2  Representations and Warranties of VCI as to each
                Receivable ..............................................     3
   SECTION 3.3  Repurchase upon Breach ..................................     3
   SECTION 3.4  Protection of Title .....................................     4
   SECTION 3.5  Other Liens or Interests ................................     5
   SECTION 3.6  Perfection Representations, Warranties and Covenants ....     5

ARTICLE IV MISCELLANEOUS ................................................     5
   SECTION 4.1  Transfers Intended as Sale; Security Interest ...........     5
   SECTION 4.2  Notices, Etc ............................................     6
   SECTION 4.3  Choice of Law ...........................................     7
   SECTION 4.4  Headings ................................................     7
   SECTION 4.5  Counterparts ............................................     7
   SECTION 4.6  Amendment ...............................................     7
   SECTION 4.7  Waivers .................................................     8
   SECTION 4.8  Entire Agreement ........................................     8
   SECTION 4.9  Severability of Provisions ..............................     8
   SECTION 4.10 Binding Effect ..........................................     8
   SECTION 4.11 Acknowledgment and Agreement ............................     8
   SECTION 4.12 Cumulative Remedies .....................................     9
   SECTION 4.13 Nonpetition Covenant ....................................     9
   SECTION 4.14 Submission to Jurisdiction ..............................     9
</TABLE>

                                       i

<PAGE>

                                    EXHIBITS

Exhibit A     Form of Assignment Pursuant to Purchase Agreement
Schedule I    Representations and Warranties With Respect to the Receivables
Schedule II   Perfection Representations, Warranties and Covenants

                                       ii

<PAGE>

     THIS PURCHASE AGREEMENT is made and entered into as of [____________] (as
amended from time to time, this "Agreement") by VW CREDIT, INC., a Delaware
corporation ("VCI"), and VOLKSWAGEN AUTO LEASE UNDERWRITTEN FUNDING, LLC, a
Delaware limited liability company (the "Purchaser").

                                   WITNESSETH:

     WHEREAS, the Purchaser desires to purchase from VCI a portfolio of motor
vehicle receivables, including retail motor vehicle installment sales contracts
and/or installment loans that are secured by new and used automobiles and
light-duty trucks; and

     WHEREAS, VCI is willing to sell such portfolio of motor vehicle receivables
and related property to the Purchaser on the terms and conditions set forth in
this Agreement.

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

                                   ARTICLE I

                              DEFINITIONS AND USAGE

     SECTION 1.1 Definitions. Except as otherwise defined herein or as the
context may otherwise require, capitalized terms used but not otherwise defined
herein are defined in Appendix A to the Sale and Servicing Agreement dated as of
the date hereof (as from time to time amended, supplemented or otherwise
modified and in effect, the "Sale and Servicing Agreement") among Volkswagen
Auto Loan Enhanced Trust 20[__]-[__], VCI, as servicer, the Purchaser, as
seller, and [_________], as indenture trustee, which also contains rules as to
usage that are applicable herein.

     SECTION 1.2 Other Interpretive Provisions. For purposes of this Agreement,
unless the context otherwise requires: (a) accounting terms not otherwise
defined in this Agreement, and accounting terms partly defined in this Agreement
to the extent not defined, shall have the respective meanings given to them
under GAAP; (b) terms defined in Article 9 of the UCC as in effect in the
relevant jurisdiction and not otherwise defined in this Agreement are used as
defined in that Article; (c) the words "hereof," "herein" and "hereunder" and
words of similar import refer to this Agreement as a whole and not to any
particular provision of this Agreement; (d) references to any Article, Section,
Schedule, Appendix or Exhibit are references to Articles, Sections, Schedules,
Appendices and Exhibits in or to this Agreement and references to any paragraph,
subsection, clause or other subdivision within any Section or definition refer
to such paragraph, subsection, clause or other subdivision of such Section or
definition; (e) the term "including" means "including without limitation"; (f)
except as otherwise expressly provided herein, references to any law or
regulation refer to that law or regulation as amended from time to time and
include any successor law or regulation; (g) references to any Person include
that Person's successors and assigns; and (h) headings are for purposes of
reference only and shall not otherwise affect the meaning or interpretation of
any provision hereof.

<PAGE>

                                   ARTICLE II

                                    PURCHASE

     SECTION 2.1 Agreement to Sell and Contribute on the Closing Date. On the
terms and subject to the conditions set forth in this Agreement, VCI agrees to
transfer, assign, set over, sell and otherwise convey to the Purchaser without
recourse (subject to the obligations herein) on the Closing Date all of its
right, title and interest in, to and under the Receivables, the Collections
after the Cut-Off Date and the Related Security relating thereto, described in
an Assignment in the form of Exhibit A delivered on the Closing Date (the
"Purchased Assets") having a Net Pool Balance as of the Cut-Off Date equal to
$[____________], which sale shall be effective as of the Cut-Off Date. The sale,
transfer, assignment and conveyance made hereunder does not constitute and is
not intended to result in an assumption by the Purchaser of any obligation of
the applicable Originator to the Obligors, the Dealers or any other Person in
connection with the Receivables or the other assets and properties conveyed
hereunder or any agreement, document or instrument related thereto.

     SECTION 2.2 Consideration and Payment. In consideration of the transfer of
the Purchased Assets conveyed to the Purchaser on the Closing Date, the
Purchaser shall pay in cash to VCI on such date an amount equal to
$[__________], and VCI elects to contribute to the Purchaser such Purchased
Assets as had an Outstanding Principal Balance equal to $[__________].

                                  ARTICLE III

                    REPRESENTATIONS, WARRANTIES AND COVENANTS

     SECTION 3.1 Representations and Warranties of VCI. VCI makes the following
representations and warranties as of the Closing Date on which the Purchaser
will be deemed to have relied in acquiring the Purchased Assets. The
representations and warranties will survive the conveyance of the Purchased
Assets to the Purchaser, the conveyance of the Purchased Assets to the Issuer
pursuant to the Sale and Servicing Agreement and the Grant thereof by the Issuer
to the Indenture Trustee pursuant to the Indenture:

     (a) Existence and Power. VCI is a corporation validly existing and in good
standing under the laws of its state of organization and has, in all material
respects, all power and authority required to carry on its business as now
conducted. VCI has obtained all necessary licenses and approvals in each
jurisdiction where the failure to do so would materially and adversely affect
the ability of VCI to perform its obligations under the Transaction Documents or
the enforceability or collectibility of the Receivables or any other part of the
Purchased Assets.

     (b) Authorization and No Contravention. The execution, delivery and
performance by VCI of each Transaction Document to which it is a party (i) have
been duly authorized by all necessary action on the part of VCI and (ii) do not
contravene or constitute a default under (A) any applicable law, rule or
regulation, (B) its organizational documents or (C) any material agreement,
contract, order or other instrument to which it is a party or its property is
subject (other than violations of which do not affect the legality, validity or
enforceability of any of such agreements and which, individually or in the
aggregate, would not materially and adversely

                                      -2-

<PAGE>

affect the transactions contemplated by, or VCI's ability to perform its
obligations under, the Transaction Documents).

     (c) No Consent Required. No approval or authorization by, or filing with,
any Governmental Authority is required in connection with the execution,
delivery and performance by VCI of any Transaction Document other than (i) UCC
filings, (ii) approvals and authorizations that have previously been obtained
and filings that have previously been made and (iii) approvals, authorizations
or filings which, if not obtained or made, would not have a material adverse
effect on the enforceability or collectibility of the Receivables or any other
part of the Purchased Assets or would not materially and adversely affect the
ability of VCI to perform its obligations under the Transaction Documents.

     (d) Binding Effect. Each Transaction Document to which VCI is a party
constitutes the legal, valid and binding obligation of VCI enforceable against
VCI in accordance with its terms, except as such enforceability may be limited
by applicable bankruptcy, insolvency, reorganization, moratorium, receivership,
conservatorship or other similar laws affecting creditors' rights generally and,
if applicable, the rights of creditors of corporations from time to time in
effect or by general principles of equity.

     (e) No Proceedings. There are no actions, suits or proceedings pending or,
to the knowledge of VCI, threatened against VCI before or by any Governmental
Authority that (i) assert the invalidity or unenforceability of this Agreement
or any of the other Transaction Documents, (ii) seeking to prevent the issuance
of the Notes or the consummation of any of the transactions contemplated by this
Agreement or any of the other Transaction Documents, (iii) seeking any
determination or ruling that would materially and adversely affect the
performance by VCI of its obligations under this Agreement or any of the other
Transaction Documents, or (iv) relate to VCI that would materially and adversely
affect the federal or Applicable Tax State income, excise, franchise or similar
tax attributes of the Notes.

     (f) Lien Filings. VCI is not aware of any material judgment, ERISA or tax
lien filings against VCI.

     SECTION 3.2 Representations and Warranties of VCI as to each Receivable.
VCI hereby makes the representations and warranties set forth on Schedule I as
to the Receivables, sold, transferred, assigned, set over, sold and otherwise
conveyed to the Purchaser on which such representations and warranties the
Purchaser relies in acquiring the Receivables. Such representations and
warranties shall survive the sale of the Receivables to the Issuer under the
Sale and Servicing Agreement, and the Grant of the Receivables by the Issuer to
the Indenture Trustee pursuant to the Indenture. Notwithstanding any statement
to the contrary contained herein or in any other Transaction Document, VCI shall
not be required to notify any insurer with respect to any Insurance Policy
obtained by an Obligor or to notify any Dealer about any aspect of the
transaction contemplated by the Transaction Documents.

     SECTION 3.3 Repurchase upon Breach. Upon discovery by or notice to the
Purchaser or VCI of a breach of any of the representations and warranties set
forth in Section 3.2 at the time such representations and warranties were made
which materially and adversely affects the interests of the Issuer or the
Noteholders, the party discovering such breach or

                                      -3-

<PAGE>

receiving such notice shall give prompt written notice thereof to the other
party; provided that delivery of the Servicer's Certificate shall be deemed to
constitute prompt notice by the Servicer and the Issuer of such breach;
provided, further, that the failure to give such notice shall not affect any
obligation of VCI hereunder. If VCI does not correct or cure such breach prior
to the end of the Collection Period which includes the 60th day (or, if VCI
elects, an earlier date) after the date that VCI became aware or was notified of
such breach, then VCI shall purchase any Receivable materially and adversely
affected by such breach from the Purchaser on the Payment Date following the end
of such Collection Period. Any such breach or failure will not be deemed to have
a material and adverse effect if such breach or failure does not affect the
ability of the Purchaser (or its assignee) to receive and retain timely payment
in full on such Receivable. Any such purchase by VCI shall be at a price equal
to the Repurchase Price. In consideration for such repurchase, VCI shall make
(or shall cause to be made) a payment to the Purchaser equal to the Repurchase
Price by depositing such amount into the Collection Account prior to 11:00 am,
New York City time on such Payment Date. Upon payment of such Repurchase Price
by VCI, the Purchaser shall release and shall execute and deliver such
instruments of release, transfer or assignment, in each case without recourse or
representation, as may be reasonably requested by VCI to evidence such release,
transfer or assignment or more effectively vest in VCI or its designee any
Receivable repurchased pursuant hereto. It is understood and agreed that the
obligation of VCI to purchase any Receivable as described above shall constitute
the sole remedy respecting such breach available to the Purchaser.

     SECTION 3.4 Protection of Title.

     (a) VCI shall authorize and file such financing statements and cause to be
authorized and 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 Purchaser under this Agreement in the Receivables.
VCI shall deliver (or cause to be delivered) to the Purchaser file-stamped
copies of, or filing receipts for, any document filed as provided above, as soon
as available following such filing.

     (b) VCI shall not change its name, identity, corporate structure or
jurisdiction of organization in any manner that would make any financing
statement or continuation statement filed by VCI in accordance with paragraph
(a) above "seriously misleading" within the meaning of Sections 9-506, 9-507 or
9-508 of the UCC, unless it shall have given the Purchaser at least five days'
prior written notice thereof and, to the extent necessary, shall have promptly
filed amendments to previously filed financing statements or continuation
statements described in paragraph (a) above.

     (c) VCI shall give the Purchaser at least ten days' prior written notice of
any change of location of VCI 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 possible to take such action in advance) reasonably necessary or
advisable in the opinion of the Purchaser to amend all previously filed
financing statements or continuation statements described in paragraph (a)
above.

     (d) VCI shall maintain (or shall cause its Sub-Servicer to maintain)
accounts and records as to each Receivable accurately and in sufficient detail
to permit (i) the reader thereof to

                                      -4-

<PAGE>

know at any time the status of such Receivable, including payments and
recoveries made and payment owing (and the nature of each) and (ii)
reconciliation between payments or recoveries on (or with respect to) each
Receivable and the amounts from time to time deposited in the Collection Account
in respect of such Receivable.

     (e) VCI shall maintain (or shall cause its Sub-Servicer to maintain) its
computer systems so that, from time to time after the conveyance under this
Agreement of the Receivables, the master computer records (including any backup
archives) that refer to a Receivable shall indicate clearly the interest of the
Purchaser (or any subsequent assignee of the Purchaser) in such Receivable and
that such Receivable is owned by such Person. Indication of such Person's
interest in a Receivable shall not be deleted from or modified on such computer
systems until, and only until, the related Receivable shall have been paid in
full or repurchased.

     (f) If at any time VCI shall propose to sell, grant a security interest in
or otherwise transfer any interest in motor vehicle receivables to any
prospective purchaser, lender or other transferee, VCI shall give to such
prospective purchaser, lender or other transferee computer tapes, records or
printouts (including any restored from backup archives) that, if they shall
refer in any manner whatsoever to any Receivable, shall indicate clearly that
such Receivable has been sold and is owned by the Purchaser (or any subsequent
assignee of the Purchaser).

     SECTION 3.5 Other Liens or Interests. Except for the conveyances and grants
of security interests pursuant to this Agreement and the other Transaction
Documents, VCI shall not sell, pledge, assign or transfer the Receivables or
other property transferred to the Purchaser to any other Person, or grant,
create, incur, assume or suffer to exist any Lien (other than Permitted Liens)
on any interest therein, and VCI shall defend the right, title and interest of
the Purchaser in, to and under such Receivables or other property transferred to
the Purchaser against all claims of third parties claiming through or under VCI.

     SECTION 3.6 Perfection Representations, Warranties and Covenants. VCI
hereby makes the perfection representations, warranties and covenants attached
set forth on Schedule II hereto to the Purchaser and the Purchaser shall be
deemed to have relied on such representations, warranties and covenants in
acquiring the Purchased Assets.

                                   ARTICLE IV

                                  MISCELLANEOUS

     SECTION 4.1 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 transfers 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 Receivables and related
Purchased Assets shall not be part of VCI's estate in the event of a bankruptcy
or insolvency of VCI. The sales and transfers by VCI of the Receivables and
related Purchased Assets hereunder are and shall be without recourse to, or
representation or warranty (express or implied) by, VCI, except as otherwise
specifically provided herein. The limited rights of recourse specified herein

                                      -5-

<PAGE>

against VCI 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 the Receivables.

     (b) Notwithstanding the foregoing, in the event that the Receivables and
other Purchased Assets are held to be property of VCI, or if for any reason this
Agreement is held or deemed to create indebtedness or a security interest in the
Receivables and other Purchased Assets, 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 Uniform Commercial Code and
     the Uniform Commercial Code of any other applicable jurisdiction;

          (ii) The conveyance provided for in Section 2.1 shall be deemed to be
     a grant by VCI of, and VCI hereby grants to the Purchaser, 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
     Receivables and other Purchased Assets, to secure such indebtedness and the
     performance of the obligations of VCI hereunder;

          (iii) The possession by the Purchaser or its agent of the Receivable
     Files and any other property as constitute instruments, money, negotiable
     documents or chattel paper 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 Uniform Commercial Code and the Uniform Commercial Code of any
     other applicable jurisdiction; and

          (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
     Purchaser for the purpose of perfecting such security interest under
     applicable law.

     SECTION 4.2 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, or by facsimile and addressed in each case as specified on Schedule II
to the Sale and Servicing Agreement, or at such other address as shall be
designated by any of the specified addressees in a written notice to the other
parties hereto. Any notice required or permitted to be mailed to a Noteholder
shall be given by first class mail, postage prepaid, at the address of such
Noteholder as shown in the Note Register. 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; provided, however, that any notice to a Noteholder mailed within the
time prescribed in this Agreement shall be conclusively presumed to have been
duly given, whether or not the Noteholder shall receive such notice.

     SECTION 4.3 Choice of Law. THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE INTERNAL, SUBSTANTIVE LAWS OF THE STATE OF NEW
YORK WITHOUT REFERENCE TO THE RULES

                                      -6-

<PAGE>

THEREOF RELATING TO CONFLICTS OF LAW, OTHER THAN SECTIONS 5-1401 AND 5-1402 OF
THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE OBLIGATIONS, RIGHTS AND REMEDIES
OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

     SECTION 4.4 Headings. The section headings hereof have been inserted for
convenience only and shall not be construed to affect the meaning, construction
or effect of this Agreement.

     SECTION 4.5 Counterparts. This Agreement may be executed in any number of
counterparts, 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.

     SECTION 4.6 Amendment.

     (a) Any term or provision of this Agreement may be amended by VCI and the
Purchaser without the consent of the Indenture Trustee, any Noteholder, the
Issuer, the Owner Trustee or any other Person; provided that such amendment
shall not, as evidenced by an Opinion of Counsel delivered to the Indenture
Trustee materially and adversely affect the interests of the Noteholders.

     (b) Any term or provision of this Agreement may be amended by VCI and the
Purchaser without the consent of the Indenture Trustee, any Noteholder, the
Issuer, the Owner Trustee or any other Person to add, modify or eliminate any
provisions as may be necessary or advisable in order to enable VCI, the
Purchaser or any of their Affiliates to comply with or obtain more favorable
treatment under any law or regulation or any accounting rule or principle, it
being a condition to any such amendment that the Rating Agency Condition shall
have been satisfied.

     (c) This Agreement may also be amended from time to time by VCI and the
Purchaser, with the consent of the Holders of Notes evidencing not less than a
majority of the aggregate principal amount of the Outstanding Notes, voting as a
single class, for the purpose of adding any provisions to or changing in any
manner or eliminating any of the provisions of this Agreement or of modifying in
any manner the rights of the Noteholders. It will not be necessary for the
consent of Noteholders to approve the particular form of any proposed amendment
or consent, but it will be sufficient if such consent approves the substance
thereof. The manner of obtaining such consents (and any other consents of
Noteholders provided for in this Agreement) and of evidencing the authorization
of the execution thereof by Noteholders will be subject to such reasonable
requirements as the Indenture Trustee may prescribe, including the establishment
of record dates pursuant to the Note Depository Agreement.

     (d) Prior to the execution of any such amendment, VCI shall provide written
notification of the substance of such amendment to each Rating Agency; and
promptly after the execution of any such amendment or consent, VCI shall furnish
a copy of such amendment or consent to each Rating Agency and the Indenture
Trustee.

     (e) Prior to the execution of any amendment to this Agreement, the
Purchaser, the Owner Trustee and the Indenture Trustee shall be entitled to
receive and conclusively rely upon

                                      -7-

<PAGE>

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. The Owner Trustee
and the Indenture Trustee may, but shall not be obligated to, enter into any
such amendment which adversely affects the Owner Trustee's or the Indenture
Trustee's, as applicable, own rights, duties or immunities under this Agreement.

     SECTION 4.7 Waivers. No failure or delay on the part of the Purchaser, the
Servicer, VCI, 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 Purchaser or
VCI 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 4.8 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 4.9 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.

     SECTION 4.10 Binding Effect. This Agreement shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and
permitted assigns. 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 4.11 Acknowledgment and Agreement. By execution below, VCI
expressly acknowledges and consents to the sale of the Purchased Assets and the
assignment of all rights and obligations of VCI related thereto by the Purchaser
to the Issuer pursuant to the Sale and Servicing Agreement and the Grant of a
security interest in the Receivables and the other Purchased Assets by the
Issuer to the Indenture Trustee pursuant to the Indenture for the benefit of the
Noteholders. In addition, VCI 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 Purchaser under this Agreement.

     SECTION 4.12 Cumulative Remedies. The remedies herein provided are
cumulative and not exclusive of any remedies provided by law.

                                      -8-

<PAGE>

     SECTION 4.13 Nonpetition Covenant. Each party hereto agrees that, prior to
the date which is one year and one day after payment in full of all obligations
of each Bankruptcy Remote Party in respect of all securities issued by any
Bankruptcy Remote Party (i) such party hereto shall not authorize any 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 its creditors generally, any party hereto
or any other creditor of such Bankruptcy Remote Party, and (ii) none of the
parties hereto shall commence or join with any other Person in commencing any
proceeding against such Bankruptcy Remote Party under any bankruptcy,
reorganization, liquidation or insolvency law or statute now or hereafter in
effect in any jurisdiction. This Section shall survive the termination of this
Agreement.

     SECTION 4.14 Submission to Jurisdiction. 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;

     (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 4.2; and

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

                  [Remainder of Page Intentionally Left Blank]

                                      -9-

<PAGE>

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

                                        VW CREDIT, INC.

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

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

                                        VOLKSWAGEN AUTO LEASE UNDERWRITTEN
                                        FUNDING, LLC

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

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

                                       S-1

<PAGE>

                                    EXHIBIT A

                                     FORM OF
                    ASSIGNMENT PURSUANT TO PURCHASE AGREEMENT

     For value received, in accordance with the Purchase Agreement dated as of
[_________________] (the "Agreement"), between VW Credit, Inc., a Delaware
corporation ("VCI"), and Volkswagen Auto Lease Underwritten Funding, LLC, a
Delaware limited liability company (the "Purchaser"), on the terms and subject
to the conditions set forth in the Agreement, VCI does hereby transfer, assign,
set over, sell and otherwise convey to the Purchaser on the Closing Date, all of
its right, title and interest in, to and under the Receivables set forth on the
schedule of Receivables delivered by VCI to the Purchaser on the date hereof
(such schedule, the "Schedule of Receivables"), and the Collections after the
Cut-Off Date and the Related Security relating thereto, which sale shall be
effective as of the Cut-Off Date.

     The foregoing sale does not constitute and is not intended to result in any
assumption by the Purchaser of any obligation of the undersigned to the
Obligors, insurers or any other Person in connection with the Receivables, or
the other assets and properties conveyed hereunder or any agreement, document or
instrument related thereto.

     This assignment is made pursuant to and upon the representations,
warranties and agreements on the part of the undersigned contained in the
Agreement and is governed by the Agreement.

     Capitalized terms used herein and not otherwise defined shall have the
meaning assigned to them in the Agreement.

                  [Remainder of page intentionally left blank]

                                       A-1

<PAGE>

     IN WITNESS HEREOF, the undersigned has caused this assignment to be duly
executed as of [_______________].

                                        VW CREDIT, INC.

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

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

                                      A-2

<PAGE>

                                                                      SCHEDULE I

         REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE RECEIVABLES

(a)  Characteristics of Receivables. Each Receivable:

     (i)  has been fully and properly executed by the Obligor thereto;

     (ii) has either (A) been originated by a Dealer in the ordinary course of
          such Dealer's business to finance the retail sale by a Dealer of the
          related Financed Vehicle and has been purchased by the applicable
          Originator in the ordinary course of its respective business or (B)
          has been originated or acquired directly by the applicable Originator
          in accordance with its customary practices;

     (iii) as of the Closing Date is secured by a first priority validly
          perfected security interest in the Financed Vehicle in favor of the
          applicable Originator, as secured party, or all necessary actions have
          been commenced that would result in a first priority security interest
          in the Financed Vehicle in favor of the applicable Originator, as
          secured party, which security interest, in either case, is assignable
          and has been so assigned (x) by VW Bank to VCI, if such Receivable was
          originated by VW Bank, (y) by VCI to the Purchaser and (z) by the
          Purchaser to the Issuer;

     (iv) contains customary and enforceable provisions such that the rights and
          remedies of the holder thereof are adequate for realization against
          the collateral of the benefits of the security;

     (v)  provides, at origination, for level monthly payments which fully
          amortize the initial Outstanding Principal Balance over the original
          term; provided that the amount of the first or last payment may be
          different but in no event more than three times the level monthly
          payment;

     (vi) provides for interest at the Contract Rate specified in the Schedule
          of Receivables; and

     (vii) was originated in the United States.

(b)  Individual Characteristics. Each Receivable has the following individual
     characteristics as of the Cut-Off Date:

     (i)  each Receivable is secured by a new or used automobile or light-duty
          truck;

     (ii) each Receivable has a Contract Rate of no less than [_________]% and
          not more than [_________]%;

     (iii) each Receivable had an original term to maturity of not more than
          [_________] months and not less than [_________] months and each
          Receivable has a remaining term to maturity, as of the Cut-Off Date,
          of [_________] months or more;

                                            Schedule I to the Purchase Agreement

                                  Schedule I-1

<PAGE>

     (iv) each Receivable had an original Outstanding Principal Balance less
          than or equal to $[_________];

     (v)  each Receivable has an Outstanding Principal Balance as of the Cut-Off
          Date of greater than or equal to $[_________];

     (vi) no Receivable has a scheduled maturity date later than [_________];

     (vii) no Receivable was more than 30 days past due as of the Cut-Off Date;

     (viii) as of the Cut-off Date, no Receivable was noted in the records of
          VCI or the Servicer as being the subject of any pending bankruptcy or
          insolvency proceeding;

     (ix) no Receivable is subject to a force-placed Insurance Policy on the
          related Financed Vehicle;

     (x)  each Receivable is a Simple Interest Receivable;

     (xi) each of the Receivables were selected using selection procedures that
          were not known or intended by VCI or the Servicer to be adverse to the
          Purchaser; and

     (xii) the Dealer of the Financed Vehicle has no participation in, or other
          right to receive, any proceeds of such Receivable.

(c)  Schedule of Receivables. The information with respect to a Receivable
     transferred on the Closing Date set forth in the Schedule of Receivables
     was true and correct in all material respects as of the Cut-Off Date.

(d)  Compliance with Law. The Receivable complied at the time it was originated
     or made, in all material respects with all requirements of applicable
     federal, state and local laws, and regulations thereunder, including, to
     the extent applicable, usury laws, the Federal Truth in Lending Act, the
     Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Federal
     Trade Commission Act, the Fair Debt Collection Practices Act, the Fair
     Credit Billing Act, the Magnuson-Moss Warranty Act, Federal Reserve Board
     Regulations B and Z, the Servicemembers Civil Relief Act of 2003, state
     adaptations of the National Consumer Act and of the Uniform Consumer Credit
     Code and any other consumer credit, equal opportunity and disclosure laws
     applicable to that Receivable.

(e)  Binding Obligation. The Receivable constitutes the legal, valid and binding
     payment obligation in writing of the Obligor, enforceable in all respects
     by the holder thereof in accordance with its terms, subject, as to
     enforcement, to applicable bankruptcy, insolvency, reorganization,
     liquidation or other similar laws and equitable principles relating to or
     affecting the enforcement of creditors' rights generally.

(f)  Receivable in Force. The Receivable has not been satisfied, subordinated or
     rescinded nor has the related Financed Vehicle been released from the lien
     granted by the Receivable in whole or in part.

                                  Schedule I-2

<PAGE>

(g)  No Waiver. As of the Cut-Off Date, no provision of a Receivable has been
     waived.

(h)  No Default. Except for payment delinquencies continuing for a period of not
     more than 30 days as of the Cut-Off Date, the records of the Servicer did
     not disclose that any default, breach, violation or event permitting
     acceleration under the terms of the Receivable existed as of the Cut-Off
     Date or that any continuing condition that with notice or lapse of time, or
     both, would constitute a default, breach, violation or event permitting
     acceleration under the terms of the Receivable had arisen as of the Cut-Off
     Date.

(i)  Insurance. The Receivable requires the Obligor thereunder to insure the
     Financed Vehicle under a physical damage insurance policy.

(j)  No Government Obligor. The Obligor on the Receivable is not the United
     States of America or any state thereof or any local government, or any
     agency, department, political subdivision or instrumentality of the United
     States of America or any state thereof or any local government.

(k)  Assignment. No Receivable has been originated in, or is subject to the laws
     of, any jurisdiction under which the sale, transfer, assignment, conveyance
     or pledge of such Receivable would be unlawful, void, or voidable. VCI has
     not entered into any agreement with any Obligor that prohibits, restricts
     or conditions the assignment of the related Receivable.

(l)  Good Title. It is the intention of VCI that the sale, transfer, assignment
     and conveyance herein contemplated constitute an absolute sale, transfer,
     assignment and conveyance of the Receivables and that the Receivables not
     be part of VCI's estate in the event of the filing of a bankruptcy petition
     by or against the Purchaser under any bankruptcy law. No Receivable has
     been sold, transferred, assigned, conveyed or pledged to any Person other
     than pursuant to the Transaction Documents. As of the Closing Date, and
     immediately prior to the sale and transfer herein contemplated, VCI had
     good and marketable title to Receivable free and clear of all Liens, and,
     immediately upon the sale and transfer thereof, the Purchaser will have
     good and marketable title to each Receivable, free and clear of all Liens
     (other than Permitted Liens).

(m)  Filings. All filings (including, without limitation, UCC filings) necessary
     in any jurisdiction to give the Issuer a first priority, validly perfected
     ownership interest in the Receivables (other than the Related Security with
     respect thereto), and to give the Indenture Trustee a first priority
     perfected security interest therein, will be made within ten days of the
     Closing Date.

(n)  Priority. The Receivable is not pledged, assigned, sold, subject to a
     security interest, or otherwise conveyed other than pursuant to the
     Transaction Documents. VCI has not authorized the filing of and is not
     aware of any financing statements against VCI or the Purchaser that include
     a description of collateral covering the Receivables other than any
     financing statement relating to security interests granted under the
     Transaction Documents or that have been terminated. The Purchase Agreement
     creates a valid and

                                  Schedule I-3

<PAGE>

     continuing security interest in the Receivable (other than the Related
     Security with respect thereto) in favor of the Purchaser which security
     interest is prior to all other Liens (other than Permitted Liens) and is
     enforceable as such against all other creditors of and purchasers and
     assignees from the Purchaser.

(o)  Characterization of Receivables. Each Receivable constitutes either
     "tangible chattel paper", an "account", a "promissory note" or a "payment
     intangible", each as defined in the UCC.

(p)  One Original. There is only one original executed copy of each Receivable
     in existence. The Servicer (or its agent) has possession of such original.
     If such original has been marked, then such original does not have any
     marks or notations indicating that it has been pledged, assigned or
     otherwise conveyed to any Person other than to a party to the Transaction
     Documents.

(q)  No Defenses. VCI has no knowledge either of any facts which would give rise
     to any right of rescission, set-off, counterclaim or defense, or of the
     same being asserted or threatened, with respect to any Receivable.

(r)  No Repossession. As of the Cut-Off Date, no Financed Vehicle shall have
     been repossessed.

                                  Schedule I-4

<PAGE>

                                                                     SCHEDULE II

              PERFECTION REPRESENTATIONS, WARRANTIES AND COVENANTS

     In addition to the representations, warranties and covenants contained in
the Agreement, VCI hereby represents, warrants, and covenants to the Purchaser
as follows on the Closing Date:

                                     GENERAL

     1. This Agreement creates a valid and continuing security interest (as
defined in the applicable UCC) in the Receivables and the other Purchased Assets
in favor of the Purchaser, which security interest is prior to all other Liens,
and is enforceable as such as against creditors of and purchasers from VCI.

     2. The Receivables constitute "tangible chattel paper," "accounts,"
"instruments" or "general intangibles," within the meaning of the UCC.

     3. Each Receivable is secured by a first priority validly perfected
security interest in the related Financed Vehicle in favor of the applicable
Originator, as secured party, or all necessary actions with respect to such
Receivable have been taken or will be taken to perfect a first priority security
interest in the related Financed Vehicle in favor of the applicable Originator,
as secured party.

                                    CREATION

     4. Immediately prior to the sale, transfer, assignment and conveyance of a
Receivable by VCI to the Purchaser, VCI owned and had good and marketable title
to such Receivable free and clear of any Lien and immediately after the sale,
transfer, assignment and conveyance of such Receivable to the Purchaser, the
Purchaser will have good and marketable title to such Receivable free and clear
of any Lien.

     5. The related Originator has received all consents and approvals to the
sale of the Receivables hereunder to the Purchaser required by the terms of the
Receivables that constitute instruments.

                                   PERFECTION

     6. VCI has caused or will have caused, within ten days after the effective
date of this 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 Receivables from VCI to the Purchaser, and
the security interest in the Receivables granted to the Purchaser hereunder; and
the Servicer, in its capacity as custodian, has in its possession the original
copies of such instruments or tangible chattel paper that constitute or evidence
the Receivables, and all financing statements referred to in this paragraph
contain a statement that: "A purchase of or security interest in any collateral
described in this financing statement will violate the rights of the Secured
Party/Purchaser".

                                           Schedule II to the Purchase Agreement

                                 Schedule II-1

<PAGE>

     7. With respect to Receivables that constitute an instrument or tangible
chattel paper, either:

     a.   All original executed copies of each such instrument or tangible
          chattel paper have been delivered to the Indenture Trustee; or

     b.   Such instruments or tangible chattel paper are in the possession of
          the Servicer and the Indenture Trustee has received a written
          acknowledgment from the Servicer that the Servicer (in its capacity as
          custodian) is holding such instruments or tangible chattel paper
          solely on behalf and for the benefit of the Indenture Trustee; or

     c.   The Servicer received possession of such instruments or tangible
          chattel paper after the Indenture Trustee received a written
          acknowledgment from the Servicer that the Servicer is acting solely as
          agent of the Indenture Trustee.

                                    PRIORITY

     8. VCI has not authorized the filing of, or is aware of, any financing
statements against VCI that include a description of collateral covering the
Receivables other than any financing statement (i) relating to the security
interest granted to the Purchaser hereunder or (ii) that has been terminated.

     9. VCI is not aware of any material judgment, ERISA or tax lien filings
against VCI.

     10. None of the instruments or tangible chattel paper that constitutes or
evidences the Receivables has any marks or notations indicating that they have
been pledged, assigned or otherwise conveyed to any Person other than the
Purchaser, the Issuer or the Indenture Trustee.

                     SURVIVAL OF PERFECTION REPRESENTATIONS

     11. Notwithstanding any other provision of the Purchase Agreement or any
other Transaction Document, the perfection representations, warranties and
covenants contained in this Schedule II shall be continuing, and remain in full
force and effect until such time as all obligations under the Transaction
Documents and the Notes have been finally and fully paid and performed.

                                    NO WAIVER

     12. The parties to the Purchase Agreement shall provide the Rating Agencies
with prompt written notice of any breach of the perfection representations,
warranties and covenants contained in this Schedule I, and shall not, without
satisfying the Rating Agency Condition, waive a breach of any of such perfection
representations, warranties or covenants.

                                 Schedule II-2<PAGE>

                                                                    EXHIBIT 10.9

                                      ISDA
                  International Swap Dealers Association, Inc.

                                    SCHEDULE
                                     to the
                                Master Agreement

                      dated as of _________________________

                               [Volkswagen Auto Loan Enhanced Trust 200[_] - [_]
between __________________ and [Volkswagen Auto Lease Trust 200[_] - [_]
           ("Party A")                         ("Party B")

Part 1. TERMINATION PROVISIONS.

(a)  The following shall apply:

     (i) TERMINATION BY PARTY A - EVENTS OF DEFAULT Notwithstanding the
     provisions of Section 5(a), the only events which will constitute Events of
     Default when they occur in relation to Party B will be those events
     specified in Sections 5(a)(i) (Failure To Pay Or Deliver) and Section
     5(a)(vii) (Bankruptcy), other than the events specified in Section
     5(a)(vii)(2).

     Accordingly, the provisions of Section 5(a)(ii) (Breach Of Agreement), the
     provisions of Section 5(a)(iii) (Credit Support Default), the provisions of
     Section 5(a)(iv) (Misrepresentation), the provisions of Section 5(a)(v)
     (Default Under Specified Transaction), the provisions of Section 5(a)(vi)
     (Cross Default), the provisions of Section 5(a)(vii)(2) (insolvency) and
     the provisions of Section 5(a)(viii) (Merger Without Assumption) will in no
     circumstances be regarded as having given rise to an Event of Default with
     respect to Party B.

     (ii) TERMINATION BY PARTY A - TERMINATION EVENTS Notwithstanding the
     provisions of Section 5(b), and save as otherwise provided herein, the only
     events which will constitute Termination Events when they occur in relation
     to Party B will be those events specified in Section 5(b)(i) (Illegality)
     and Section 5(b)(v) (Additional Termination Event). Accordingly, the
     provisions of Section 5(b)(iv) (Credit Event Upon

<PAGE>

     Merger) will not be regarded as having given rise to a Termination Event
     with respect to Party B and Party A may not designate an Early Termination
     Date related to the provisions of Section 5(b)(ii) (Tax Event) or the
     provisions of Section 5(iii) (Tax Event Upon Merger).

     (iii) TERMINATION BY PARTY B - EVENTS OF DEFAULT AND TERMINATION EVENTS.
     Save as otherwise provided herein, the provisions of Section 5 will apply
     with respect to Party A without amendment save for Section 5(a)(vi) (Cross
     Default) which will in no circumstances be regarded as having given rise to
     an Event of Default with respect to Party A.

(b)  "SPECIFIED ENTITY" none specified in relation to either Party A or Party B.

(c)  "SPECIFIED TRANSACTION" will have the meaning specified in Section 14 of
     this Agreement.

(d)  The "AUTOMATIC EARLY TERMINATION" provision of Section 6(a) of this
     Agreement will not apply to Party A and Party B.

(e)  PAYMENTS ON EARLY TERMINATION. For the purpose of Section 6(e) of this
     Agreement:

     (i) Market Quotation will apply.

     (ii) The Second Method will apply.

(f)  "TERMINATION CURRENCY" means U.S. Dollars.

(g)  ADDITIONAL TERMINATION EVENT will apply.

     (i) The occurrence of any of the following events shall be an Additional
     Termination Event:

          (A) "Moody's Creditwatch Event": In the event Moody's assigns (x) (i)
     a long-term debt rating at or below A1 On Watch for Downgrade to [Party
     A][Party A's Credit Support Provider], or (ii) a short-term debt rating at
     or below Prime-1 On Watch for Downgrade to [Party A][Party A's Credit
     Support Provider] (if [Party A][Party A's Credit Support Provider] has both
     long-term and short-term debt ratings), or (y) a long-term debt rating at
     or below Aa3 On Watch for Downgrade to [Party A][Party A's Credit Support
     Provider] (if [Party A][Party A's Credit Support Provider] only has a
     long-term

                                       2

<PAGE>

     debt rating) (either such event, a "Party A Creditwatch Event"), Party A
     shall promptly, but in no event later than two (2) Local Business Days
     following the date of such Party A Creditwatch Event, give Party B, the
     Servicer and the Indenture Trustee written notice of the occurrence of such
     Party A Creditwatch Event. In addition, not later than thirty (30) Local
     Business Days after such Party A Creditwatch Event, Party A shall either
     (i) obtain (at Party A's expense) an unconditional guarantee or other
     similar assurance in respect of Party A's obligations under this Agreement
     from a guarantor that has Rated Debt and which guarantee and guarantor
     satisfy the Rating Agency Condition; or (ii) transfer from time to time to
     Party B under the Credit Support Annex an amount of Eligible Collateral
     having a value equal to Party B's Exposure (as defined in the printed form
     of the Credit Support Annex) under the Affected Transactions. Once a Party
     A Creditwatch Event ceases to exist, Party B shall return any such Eligible
     Collateral to Party A as soon as reasonably practicable and to the extent
     such Eligible Collateral has not already been applied in accordance with
     this Agreement or the Credit Support Annex. Party B shall have the right to
     terminate this Agreement if at any time Party A fails to comply with any of
     its obligations under this paragraph in full and in a timely manner.

     With respect to the foregoing Additional Termination Event Party A shall be
     the sole Affected Party. In the event of an Early Termination Date in
     respect of a Party A Creditwatch Event and the entering into by Party B of
     alternative swap arrangements, Party A shall pay all reasonable
     out-of-pocket expenses, including legal fees and stamp taxes, relating to
     the entering into of such alternative swap arrangements.

          (B) "Downgrade Termination Event": In the event (i) S&P assigns (x) a
     long-term debt rating equal to or lower than "A" to [Party A][Party A's
     Credit Support Provider] without (y) assigning a short-term debt rating of
     at least "A-1" to [Party A][Party A's Credit Support Provider], (ii) S&P
     assigns a long-term debt rating lower than "A+" to [Party A][Party A's
     Credit Support Provider] (if [Party A][Party A's Credit Support Provider]
     only has a long-term debt rating), (iii) Moody's assigns (x) a long-term
     debt rating equal to or lower than "A3" to [Party A][Party A's Credit
     Support Provider], or (y) a short-term debt rating lower than "Prime-2" to
     [Party A][Party A's Credit Support Provider] (if [Party A][Party A's Credit
     Support Provider] has both long-term and short-term debt ratings), (iv)
     Moody's assigns a long-term debt rating equal to or lower than A2 to [Party
     A][Party A's Credit Support Provider] (if [Party A][Party A's Credit
     Support Provider] only has a long-term debt rating), (v) [Fitch assigns (x)
     a long-term senior

                                       3

<PAGE>

     unsecured debt rating lower than "A" to [Party A][Party A's Credit Support
     Provider] or (y) a short-term senior unsecured debt rating lower than "F1"
     to [Party A][Party A's Credit Support Provider] or (vi)] either S&P,
     Moody's [or Fitch] ceases to assign such ratings to [Party A][Party A's
     Credit Support Provider], (each such event, a "Party A Rating Downgrade"),
     Party A shall (i) promptly, but in no event later than two (2) Local
     Business Days following the date of such Party A Rating Downgrade, give
     Party B, the Servicer and the Indenture Trustee written notice of the
     occurrence of such Party A Rating Downgrade, and (ii) use reasonable
     efforts to find a Qualified Counterparty promptly and transfer, in
     accordance with and subject to the limitations of Part 5(e), its rights and
     obligations to Qualified Counterparty. Party A shall continue to perform
     its obligations and use reasonable efforts to find a Qualified Counterparty
     until a Qualified Counterparty is in place. The cost of finding and putting
     into place a Qualified Counterparty shall be borne by Party A. Not later
     than thirty (30) Local Business Days after such Party A Rating Downgrade,
     if Party A has not transferred its obligations to a Qualified Counterparty
     in accordance with the foregoing provisions, Party A shall either (i)
     obtain (at Party A's expense) an unconditional guarantee or other similar
     assurance in respect of Party A's obligations under this Agreement from a
     guarantor that has Rated Debt and which guarantee and guarantor satisfy the
     Rating Agency Condition; or (ii) transfer from time to time to Party B
     under the Credit Support Annex the amount of Eligible Collateral required
     under the Credit Support Annex. In the event Party A complies with the
     requirements set forth in the preceding sentence and the Downgrade
     Termination Event relates only to an action taken by S&P, Party A shall not
     be required to find a replacement counterparty until the time at which S&P
     assigns a long-term senior unsecured debt rating lower than BBB+ to [Party
     A][Party A's Credit Support Provider], at which time Party A must
     immediately find and put into place a Qualified Counterparty. Once a
     Qualified Counterparty is in place, Party B shall return any such Eligible
     Collateral to Party A as soon as reasonably practicable and to the extent
     such Eligible Collateral has not already been applied in accordance with
     this Agreement or the Credit Support Annex. Party B shall have the right to
     terminate this Agreement if at any time Party A fails to comply with any of
     its obligations under this paragraph in full and in a timely manner.

     With respect to the foregoing Additional Termination Event Party A shall be
     the sole Affected Party. In the event of an Early Termination Date in
     respect of a Downgrade Termination Event and the entering into by Party B
     of alternative swap arrangements,

                                       4

<PAGE>

     Party A shall pay all reasonable out-of-pocket expenses, including legal
     fees and stamp taxes, relating to the entering into of such alternative
     swap arrangements.

          (C) Any acceleration of the Notes outstanding occurs following an
     event of default under the Indenture.

     With respect to the foregoing Additional Termination Event, Party B shall
     be the sole Affected Party.

Part 2. TAX REPRESENTATIONS

(a)  PAYER REPRESENTATIONS. For the purpose of Section 3(e) of this Agreement,
     Party A will make the following representation and Party B will make the
     following representation:

     It is not required by any applicable law, as modified by the practice of
     any relevant governmental revenue authority, of any Relevant Jurisdiction
     to make any deduction or withholding for or on account of any Tax from any
     payment (other than interest under Section 2(e), 6(d)(ii) or 6(e) of this
     Agreement) to be made by it to the other party under this Agreement. In
     making this representation, it may rely on (i) the accuracy of any
     representations made by the other party pursuant to Section 3(f) of this
     Agreement, (ii) the satisfaction of the agreement contained in Section
     4(a)(i) or 4(a)(iii) of this Agreement and the accuracy and effectiveness
     of any document provided by the other party pursuant to Section 4(a)(i) or
     4(a)(iii) of this Agreement and (iii) the satisfaction of the agreement of
     the other party contained in Section 4(d) of this Agreement, provided that
     it shall not be a breach of this representation where reliance is placed on
     clause (ii) and the other party does not deliver a form or document under
     Section 4(a)(iii) of this Agreement by reason of material prejudice to its
     legal or commercial position.

(b)  PAYEE REPRESENTATIONS. For the purpose of Section 3(f) of this Agreement,
     Party A and Party B will make the representations in (i) and (ii) below.

     (i) Party A represents that it is a [type of entity] organized under the
     laws of _______.

     (ii) Party B represents that it is created under and governed by the laws
     of the State of Delaware and is a "United States person" as such term is
     defined in Section 7701(a)(30) of the Code.

                                       5

<PAGE>

Part 3. AGREEMENT TO DELIVER DOCUMENTS.

For the purpose of Sections 4(a)(i) and (ii) of this Agreement, each party
agrees to deliver the following documents, as applicable:

(a)  Tax forms, documents or certificates to be delivered are:

     Party A and Party B shall promptly deliver to the other party (or as
     directed) any form or document accurately completed and in a manner
     reasonably satisfactory to the other party that may be required or
     reasonably requested in order to allow the other party to make a payment
     under a Transaction without any deduction or withholding for or on account
     of any Tax or with such deduction or withholding at a reduced rate,
     promptly upon reasonable demand by the other party.

                                       6
<PAGE>

(b)  Other documents to be delivered are:

<TABLE>
<CAPTION>
PARTY REQUIRED TO     FORM/DOCUMENT/                                                              COVERED BY SECTION 3(D)
DELIVER DOCUMENT      CERTIFICATE                           DATE BY WHICH TO BE DELIVERED         REPRESENTATION OF THIS AGREEMENT
-----------------     --------------                        -----------------------------         --------------------------------
<S>                   <C>                                   <C>                                   <C>
Party A and Party B   Evidence of the authority of the      As soon as practicable after                         Yes
                      signatories of this Agreement         execution of this Agreement and the
                      including specimen signatures of      first Confirmation of a Transaction
                      such signatories.                     and, if requested, as soon as
                                                            practicable after execution of any
                                                            Confirmation of any other
                                                            Transaction.

Party A               An opinion of counsel addressed to                                                         No
                      Party B in form and substance
                      reasonably acceptable to Party B.

Party B               An opinion of Party B's counsel                                                            No
                      addressed to Party A in form and
                      substance reasonably acceptable to
                      Party A.

Party B               A duly executed certificate of the                                                         Yes
                      secretary or assistant secretary of
                      the
</TABLE>

                                       7

<PAGE>

<TABLE>
<CAPTION>
PARTY REQUIRED TO     FORM/DOCUMENT/                                                              COVERED BY SECTION 3(D)
DELIVER DOCUMENT      CERTIFICATE                           DATE BY WHICH TO BE DELIVERED         REPRESENTATION OF THIS AGREEMENT
-----------------     --------------                        -----------------------------         --------------------------------
<S>                   <C>                                   <C>                                   <C>
                      Owner Trustee of Party B certifying
                      the name and true signature of each
                      person authorized to execute this
                      Agreement and enter into
                      Transactions for Party B.

Party B               A duly executed copy of the                                                                Yes
                      Indenture.
</TABLE>

Part 4. MISCELLANEOUS.

(a)  ADDRESSES FOR NOTICES. For the purpose of Section 12(a) of this Agreement:

     Address for notices or communications to Party A:

     Address: __________________________________________________________________

     Attention: ________________________________________________________________

     Telex No.: __________________________ Answerback: _________________________

     Facsimile No.: ______________________ Telephone No.: ______________________

     Electronic Messaging System Details: ______________________________________

     Address for notices or communications to Party B:

     Address: c/o [Owner Trustee]

     Attention: ________________________________________________________________

     Telex No.: Not applicable             Answerback: Not applicable

     Facsimile No.: ______________________ Telephone No.: ______________________

     Electronic Messaging System Details: Not applicable

     With a copy to:

                                       8

<PAGE>

     VW Credit, Inc.
     3800 Hamlin Road
     Auburn Hills, MI 48326
     Attention: Treasurer
     Telephone No.: (248) 754-5000
     Facsimile No.: (248) 754-5360

(b)  PROCESS AGENT. For the purpose of Section 13(c) of this Agreement:

     Party A appoints as its Process Agent [_______________________]

     Party B appoints as its Process Agent Not applicable

(c)  NOTICES. Section 12(a) of the Agreement is amended by adding the words in
     the third line thereof after the phrase "messaging system" and before the
     ")" the words "; provided, however, any such notice or other communication
     may be given by facsimile transmission if telex is unavailable, no telex
     number is supplied by the party providing notice, or if answer back
     confirmation is not received from the party to whom the telex is sent."

(d)  OFFICES. The provisions of Section 10(a) of this Agreement will apply to
     this Agreement.

(e)  MULTIBRANCH PARTY. For the purpose of Section 10(c) of this Agreement:

     Party A [is] [is not] a Multibranch Party and, if so, may act through the
     following offices: [PLEASE SPECIFY]

     Party B is not a Multibranch Party.

(f)  CALCULATION AGENT. The Calculation Agent is Party B, unless otherwise
     specified in a Confirmation in relation to the relevant Transaction.

(g)  CREDIT SUPPORT DOCUMENT. Details of any Credit Support Document:

     With respect to Party A: The Credit Support Annex

     With respect to Party B: Not applicable

(h)  CREDIT SUPPORT PROVIDER. Credit Support Provider means in relation to

                                       9

<PAGE>

     Party A: [Not applicable].

     Party B: Not applicable.

(i)  GOVERNING LAW. This Agreement will be governed by and construed in
     accordance with the laws of the State of New York (without reference to
     choice of laws doctrine except Section 5-1401 and Section 5-1402 of the New
     York General Obligation Law).

(j)  NETTING OF PAYMENTS. The limitation set forth in Section 2(c)(ii) of this
     Agreement will apply and therefore the netting in Section 2(c) of this
     Agreement will be limited to the same Transaction.

(k)  "AFFILIATE" will have the meaning specified in Section 14 of this
     Agreement.

(l)  NO GROSS UP. Section 2(d)(i)(4) is hereby deleted and replaced by the
     following:

     "(4) (A) If Party A is the party so required to deduct or withhold, then
     Party A shall make such additional payment as is necessary to ensure that
     the net amount actually received by Party B (free and clear of all Taxes,
     whether assessed against it or Party B) will equal the full amount Party B
     would have received had no such deduction or withholding been required; and

     (B) if Party B is the party so required to deduct or withhold, then Party B
     shall make the relevant payment subject to such deduction or withholding.

     For the avoidance of doubt, the fact that any payment is made by Party B
     subject to the provisions of (B) above shall at no time affect the
     obligations of Party A under (A) above."

                                       10

<PAGE>

Part 5. OTHER PROVISIONS.

(a)  ISDA DEFINITIONS

     The definitions and provisions contained in the 2000 ISDA Definitions (the
     "2000 Definitions") as published by the International Swaps and Derivatives
     Association, Inc., the 1998 FX and Currency Option Definitions (the "FX
     Definitions"), as published by ISDA, the Emerging Markets Traders
     Association and The Foreign Exchange Committee, the 1996 ISDA Equity
     Derivatives Definitions (the "Equity Definitions") and the 1997 ISDA
     Government Bond Option Definitions (the "Bond Definitions") as published by
     the International Swaps and Derivatives Association, Inc., the 2000
     Definitions, the FX Definitions, the Equity Definitions and the Bond
     Definitions together known as the "Definitions", each are incorporated by
     reference into this Agreement. The Agreement and each Transaction will be
     governed by the Definitions as they may be officially amended and
     supplemented from time to time by ISDA.

     In the event of any inconsistency between the 2000 Definitions and the FX
     Definitions, the FX Definitions shall prevail with respect to a FX
     Transaction or a Currency Option Transaction as defined in the FX
     Definitions.

     In the event of any inconsistency between the 2000 Definitions and the
     Equity Definitions, the Equity Definitions shall prevail with respect to a
     Transaction as defined in the Equity Definitions.

     In the event of any inconsistency between the 2000 Definitions and the Bond
     Definitions, the Bond Definitions shall prevail with respect to a
     Government Bond Option Transaction as defined in the Bond Definitions.

     For the sake of clarity, unless otherwise specified in this Agreement, the
     following documents shall govern in the order in which they are listed in
     the event of any inconsistency between any of the documents:

     (i) the Confirmation;

     (ii) the Schedule;

     (iii) the Equity Definitions (solely with respect to Transactions as
     defined therein); and the Bond Definitions (solely with respect to
     Government Bond Option Transactions

                                       11

<PAGE>

     as defined therein); and the FX Definitions (solely with respect to FX and
     Currency Option Transactions as defined therein);

     (iv) the 2000 Definitions

     (v) the printed form of ISDA Master Agreement.

(b)  RELATIONSHIP BETWEEN PARTIES

     Each party will be deemed to represent to the other party on the date on
     which it enters into a Transaction that (absent a written agreement between
     the parties that expressly imposes affirmative obligations to the contrary
     for the Transaction):

     (i) NON-RELIANCE. It is acting for its own account, and it has made its own
     independent decisions to enter into that Transaction and as to whether that
     Transaction is appropriate or proper for it based upon its own judgement
     and upon advice from such advisors as it has deemed necessary. It is not
     relying on any communication (written or oral) of the other party as
     investment advice or as a recommendation to enter into that Transaction; it
     being understood that information and explanations related to the terms and
     conditions of a Transaction shall not be considered investment advice or a
     recommendation to enter into that Transaction. It has not received from the
     other party any assurance or guarantee as to the expected results of that
     Transaction.

     (ii) ASSESSMENT AND UNDERSTANDING. It is capable of assessing the merits of
     and understanding (on its own behalf or through independent professional
     advice), and understands and accepts, the terms, conditions and risks of
     that Transaction. It is also capable of assuming, and assumes, the risks of
     that Transaction.

     (iii) STATUS OF PARTIES. Each party is acting as principal and not as agent
     and the other party is not acting as a fiduciary for or as an advisor to it
     in respect of that Transaction.

     (iv) ELIGIBLE CONTRACT PARTICIPANT. It is an "eligible contract
     participant" as defined in Section 1a(12) of the U.S. Commodity Exchange
     Act, 7 U.S.C. Section 1a(12).

     (v) FDIC REQUIREMENTS. If it is a bank subject to the requirements of 12
     U.S.C. Section 1823(e), the necessary action to authorize referred to in
     the representation in Section 3(a)(ii) includes all authorizations required
     under the Federal Deposit Insurance Act as amended, including amendments
     effected by the Financial Institutions Reform,

                                       12

<PAGE>

     Recovery and Enforcement Act of 1989, and under any agreement, writ,
     decree, or order entered into with such party's supervisory authorities. At
     all times during the term of this Agreement, such party will continuously
     include and maintain as part of its official written books and records this
     Agreement, this Schedule and all other exhibits, supplements, and
     attachments hereto and documents incorporated by reference herein, all
     Confirmations, and evidence of all necessary authorizations.

     (vi) ERISA. It continuously represents that it is not (i) an employee
     benefit plan (an "ERISA PLAN") as defined in Section 3(3) of the Employee
     Retirement Income Security Act of 1974, as amended ("ERISA"), subject to
     Title 1 of ERISA or Section 4975 of the Internal Revenue Code of 1986, as
     amended, (ii) a person or entity acting on behalf of an ERISA Plan or (iii)
     a person or entity the assets of which constitute assets of an ERISA Plan."
     It will provide notice to the other party in the event that it is aware
     that it is in breach of any aspect of this representation or is aware that
     with the passing of time, giving of notice or expiry of any applicable
     grace period, it will breach this representation.

(c)  WAIVER OF JURY TRIAL. Each party hereby irrevocably waives any and all
     rights to trial by jury with respect to any legal proceeding arising out of
     or relating to this Agreement or any Transaction contemplated hereby.

(d)  SEVERABILITY. Any provision of this Agreement which is prohibited or
     unenforceable in any jurisdiction shall, as to such jurisdiction, be
     ineffective to the extent of such prohibition or unenforceability without
     invalidating the remaining provisions of the Agreement or affecting the
     validity or enforceability of such provision in any other jurisdiction
     unless such severance shall substantially impair the benefits of the
     remaining portions of this Agreement or changes the reciprocal obligations
     of the parties. The parties hereto shall endeavour in good faith
     negotiations to replace the prohibited or unenforceable provision with a
     valid provision, the economic effect of which comes as close as possible to
     that of the prohibited or unenforceable provision.

(e)  TRANSFERS. Notwithstanding the provisions of Section 7:-

     (i) No transfer by Party A of this Agreement or any interest or obligation
     in or of Party A under this Agreement shall be effective unless:

          (A)  Party B consents to such transferee;

                                       13

<PAGE>

          (B)  The Rating Agency Condition shall have been satisfied;

          (C)  Party A shall have given Party B, the Servicer and the Indenture
               Trustee at least twenty days prior written notice of the proposed
               transfer; and

          (D)  such transfer otherwise complies with the terms of the Indenture
               and the other Transaction Agreements.

          Upon the effectiveness of any transfer, each of Party A and Party B
     shall be released (in each case to the extent of the obligations so
     transferred) from its obligations as a party to this Agreement without any
     further notification or other action.

     (ii) Except to the extent contemplated by the Indenture, neither this
     Agreement nor any interest in or under this Agreement may be transferred by
     Party B to any other entity save with Party A's prior written consent (such
     consent not to be unreasonably withheld or delayed).

(f)  PERMITTED SECURITY INTEREST. For purposes of Section 7 of this Agreement,
     Party A hereby consents to the Permitted Security Interest.

     "PERMITTED SECURITY INTEREST" means the pledge and assignment by Party B of
     the Swap Collateral to the Indenture Trustee pursuant to the Indenture, and
     the granting to the Indenture Trustee of a security interest in the Swap
     Collateral pursuant to the Indenture.

     "SWAP COLLATERAL" means all right, title and interest of Party B in this
     Agreement, each Transaction hereunder, and all present and future amounts
     payable by Party A to Party B under or in connection with this Agreement or
     any Transaction governed by this Agreement, including, without limitation,
     any transfer or termination of any such Transaction.

     "INDENTURE TRUSTEE" means ___________________ or any successor, acting as
     Indenture Trustee pursuant to the Indenture.

(g)  ABSENCE OF CERTAIN EVENTS. Section 3(b) of this Agreement is herby amended
     by inserting the parenthetical "(with respect to Party A only)" immediately
     after the phrase "No Event of Default or".

                                       14

<PAGE>

(h)  EVENTS OF DEFAULT. Section 5(a)(i) of this Agreement is hereby amended by
     the deletion of the words "if such failure is not remedied on or before the
     third Local Business Day after notice of such failure is given to the
     party" and the addition of the following at the end thereof:

     ", it being understood that amounts payable by Party B are not due except
     to the extent set forth in Section 8.4(a) of the Indenture."

(i)  PAYMENT ON EARLY TERMINATION. If an Early Termination Date occurs in
     respect of which Party A is the Defaulting Party, Party B will not be
     required to pay any amounts payable to Party A under Section 6(e) in
     respect of such Early Termination Date, and Party A will not be permitted
     to set-off in respect of such amounts, until payment in full of all amounts
     outstanding under the Notes.

(j)  NO SET-OFF. Except as set forth in clause (i) above, Party A and Party B
     hereby waive any and all right of set-off with respect to any amounts due
     under this Agreement or any Transaction, provided that nothing herein shall
     be construed to waive or otherwise limit the netting provisions contained
     in Sections 2(c) and 6(e) of this Agreement.

(k)  INDENTURE. Party B hereby acknowledges that Party A is a secured party
     under the Indenture with respect to this Agreement, and Party B agrees for
     the benefit of Party A that it will not amend the Indenture in a manner
     which materially and adversely affects the rights or obligations of Party A
     under the Indenture unless Party A shall have consented in writing to such
     action (and such consent shall be deemed to have been given if Party A does
     not object in writing within ten (10) business days after receipt of a
     written request for such consent).

(l)  NO RECOURSE. The liability of Party B to Party A hereunder is limited in
     recourse solely to the amounts payable to Party A from the Available Funds
     on each Payment Date in accordance with the priority of payments set forth
     in Section 8.4(a) of the Indenture.

(m)  NO PETITION. Party A hereby 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) it shall not authorize any 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

                                       15

<PAGE>

     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) it 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. This section shall survive the termination of this Agreement.

     As used above, "BANKRUPTCY REMOTE PARTY" means any of [Volkswagen Auto
     Lease Underwritten Funding, LLC], [or] Party B[, the Origination Trust or
     any special purpose entity (and the general partner of any special purpose
     entity that is a partnership, or the managing member of any special purpose
     entity that is a limited liability company) that holds a beneficial
     interest in the Origination Trust]. "FINANCING" means[, collectively, (i)
     any financing transaction of any sort undertaken by VW Credit, Inc. or any
     affiliate of VW Credit, Inc. involving, directly or indirectly, Origination
     Trust assets (including, without limitation, any financing undertaken in
     connection with the issuance and assignment of any SUBI, (ii) any sale or
     purchase by Volkswagen Auto Lease Underwritten Funding, LLC or any other
     special purpose entity of any interest in one or more SUBIs and (iii) any
     other asset securitization, synthetic lease, sale-leaseback, secured loan
     or similar transaction involving assets (or a beneficial interest in
     assets) of the Origination Trust.]

(n)  CONFIRMATION. Each party acknowledges and agrees that the [two]
     Confirmations executed as of the date hereof and designated as Party A
     Global ID Nos. __ and ___ shall be the only Transactions governed by this
     Agreement (it being understood that, in the event such Confirmations shall
     be amended (in any respect), such amendment shall not constitute (for
     purposes of this paragraph) a separate Transaction or a separate
     Confirmation). Party A and Party B shall not enter into any additional
     Confirmations or Transactions hereunder.

(o)  POTENTIAL EVENTS OF DEFAULT. Section 2(a)(iii) is amended by the deletion
     of the words "or Potential Event of Default".

(p)  LIMITATION OF LIABILITY. Notwithstanding anything contained herein to the
     contrary, in executing this Agreement (including the Schedule, Credit
     Support Annex and each

                                       16

<PAGE>

     Confirmation) on behalf of Party B, ______________________ (the "Owner
     Trustee") and the Indenture Trustee are acting solely in its capacity as
     owner trustee of Party B and indenture trustee, respectively, and not in
     its individual capacity, and in no event shall either one of them, in their
     individual capacity, have any liability for the representations,
     warranties, covenants, agreements or other obligations of Party B
     hereunder, for which recourse shall be had solely to the assets of Party B,
     except to the extent of its fraud, breach of trust or willful misconduct.

[(q) INTERSERIES WAIVER. Party A hereby covenants and agrees that (a) the
     Transaction SUBI is a separate series of the Origination Trust as provided
     in Section 3806(b)(2) of Chapter 38 of Title 12 of the Delaware Code, 12
     Del.Code Section 3801 et seq., (b)(i) the debts, liabilities, obligations
     and expenses incurred, contracted for or otherwise existing with respect to
     the Transaction SUBI and the Transaction SUBI assets shall be enforceable
     against the Transaction SUBI assets only, and not against any other SUBI
     assets or the UTI assets and (ii) the debts, liabilities, obligations and
     expenses incurred, contracted for or otherwise existing with respect to any
     other SUBI, any other SUBI assets, the UTI or the UTI assets shall be
     enforceable against such other SUBI assets or the UTI assets only, as
     applicable, and not against the Transaction SUBI or any other SUBI assets,
     (c) except to the extent required by law, UTI assets or SUBI assets with
     respect to any SUBI (other than the Transaction SUBI) shall not be subject
     to the claims, debts, liabilities, expenses or obligations arising from or
     with respect to the Transaction SUBI in respect of such claim, (d)(i) no
     creditor or holder of a claim relating to the Transaction SUBI or the
     Transaction SUBI assets shall be entitled to maintain any action against or
     recover any assets allocated to the UTI or the UTI assets or any other SUBI
     or the assets allocated thereto, and (ii) no creditor or holder of a claim
     relating to the UTI, the UTI assets or any SUBI other than the Transaction
     SUBI or any SUBI assets other than the Transaction SUBI assets 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 certificate representing the
     Transaction SUBI 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, 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
     assets and each other SUBI and in the event that such release is not given
     effect, to fully subordinate all claims it may be deemed to

                                       17

<PAGE>

     have against the assets of the Origination Trust allocated to the UTI and
     each other SUBI. This section shall survive the termination of this
     Agreement.]

(r)  DEFINITIONS.

     (i) As used herein:

     "CREDIT SUPPORT ANNEX" means the 1994 ISDA Credit Support Annex between
     Party A and Party B dated as of ____________.

     "ELIGIBLE COLLATERAL" means cash, U.S. Treasury Bills and any other forms
     of collateral which are reasonably acceptable to Party B, the Servicer and
     the Indenture Trustee and have been approved by the Rating Agencies.

     ["FITCH" means Fitch, Inc. or its successor.]

     "QUALIFIED COUNTERPARTY" means a counterparty that (a) has Rated Debt and
     (b) becomes a party to this Agreement (or party to an agreement in form and
     substance satisfactory to Party B, the Servicer and the Indenture Trustee)
     in accordance with Part 5(e) of this Schedule and pursuant to documentation
     which is not less favorable to Party B than this Agreement.

     "MOODY'S" means Moody's Investors Service, Inc. or its successor.

     "NOTES" mean the Class __ Notes issued by Party B under the Indenture.

     ["ORIGINATION TRUST" means VW Credit Leasing, Ltd., a Delaware statutory
     trust.]

     "RATED DEBT" means, with respect to a counterparty, (i) S&P assigns (x) a
     long-term debt rating equal to or higher than "A" to the counterparty, and
     (y) assigns a short-term debt rating equal to or higher than "A-1" to the
     counterparty (if the counterparty has both long-term and short-term debt
     ratings), (ii) S&P assigns a long-term debt rating equal to or higher than
     "A+" to the counterparty (if the counterparty only has a long-term debt
     rating), (iii) Moody's assigns (x) a long-term debt rating equal to or
     higher than "A1" to the counterparty, and (y) a short-term debt rating
     equal to or higher than "P1" to the counterparty (if the counterparty has
     both long-term and short-term debt ratings), (iv) Moody's assigns a
     long-term debt rating equal to or higher than Aa3 to the counterparty (if
     the counterparty only has a long-term debt rating).

                                       18

<PAGE>

     "RATING AGENCIES" means S&P, Moody's [and Fitch].

     "RATING AGENCY CONDITION" means, with respect to any event or circumstance
     and each Rating Agency, either (a) written confirmation by such Rating
     Agency that the occurrence of such event or circumstance will not cause it
     to downgrade, qualify or withdraw its rating assigned to any of the Notes
     or (b) that such Rating Agency shall have been given notice of such event
     or circumstance at least ten days prior to the occurrence of such event or
     circumstance (or, if ten days' advance notice is impracticable, as much
     advance notice as is practicable) and such Rating Agency shall not have
     issued any written notice that the occurrence of such event or circumstance
     will cause it to downgrade, qualify or withdraw its rating assigned to the
     Notes.

     "S&P" means Standard & Poor's, a division of the McGraw-Hill Companies Inc.
     or its successor.

     "SERVICER" means VW Credit, Inc. or its successor.

     ["SUBI" means a special unit of beneficial interest in the Origination
     Trust.]

     ["TRANSACTION SUBI" means the SUBI held by Party B and pledged to the
     Indenture Trustee under the Indenture.]

     ["UTI" means the undivided trust interest in the Origination Trust.]

     Reference is made to that certain Indenture dated as of _______, _____ (the
"Indenture") among Party B as the Issuer thereunder and __________________, as
Indenture Trustee. Capitalized terms used but not defined in this Agreement or
this Schedule will have the meanings ascribed to them in the Indenture.

     _______________ [VOLKSWAGEN AUTO LEASE TRUST 200[_]-[_]]

     _______________ [VOLKSWAGEN AUTO LOAN ENHANCED TRUST 200[_]-[_ ]]

-------------------------------------   ----------------------------------------
                                        By: [Owner Trustee], not in its
                                            individual capacity but solely as
                                            owner trustee

                                       19
<PAGE>

                                     ISDA(R)
              INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION, INC.

                              CREDIT SUPPORT ANNEX

                             to the Schedule to the
                              ISDA MASTER AGREEMENT

                 dated as of __________________________________
                                     between
                 __________________________________ ("Party A")
                                       and
              [VOLKSWAGEN AUTO LEASE TRUST 200[_]-[_]] ("Party B")
                [VOLKSWAGEN AUTO LOAN ENHANCED TRUST 200[_]-[_]]

This Annex supplements, forms part of, and is subject to, the ISDA Master
Agreement referred to above (this "Agreement"), is part of its Schedule and is a
Credit Support Document under this Agreement with respect to Party A.

Accordingly, the parties agree as follows:

                        PARAGRAPHS 1 - 12. INCORPORATION

          Paragraphs 1 through 12 inclusive of the ISDA Credit Support Annex
          (Bilateral Form) (ISDA Agreements Subject to New York Law Only)
          published in 1994 by the International Swaps and Derivatives
          Association, Inc. are incorporated herein by reference and made a part
          hereof:

PARAGRAPH 13. ELECTIONS AND VARIABLES

(a)  SECURITY INTEREST FOR "OBLIGATIONS". The term "OBLIGATIONS" as used in this
     Annex includes no additional obligations of Secured Party and, for purposes
     of the definition of Obligations in Paragraph 12, includes no additional
     obligations of Pledgor.

(b)  CREDIT SUPPORT OBLIGATIONS.

     (i)  DELIVERY AMOUNT, RETURN AMOUNT AND CREDIT SUPPORT AMOUNT.

          (A)  "DELIVERY AMOUNT" has the meaning specified in Paragraph 3(a).

          (B)  "RETURN AMOUNT" has the meaning specified in Paragraph 3(b).

<PAGE>

          (C)  "CREDIT SUPPORT AMOUNT" means, for any Valuation Date, an amount
               equal to (x) the Amount required under Paragraph 13(p) (in the
               case of a Downgrade Termination Event relating to an action taken
               by S&P); or (y) Party B's Exposure under the Agreement to which
               this Annex relates (in the case of a Downgrade Termination Event
               relating to an action taken by Moody's or in the case of a
               Moody's Creditwatch Event), in each case as calculated on a
               monthly basis by the Valuation Agent. The Credit Support Amount
               shall be calculated by reference to the provisions set forth in
               this Annex which would result in Party A transferring the
               greatest amount of Eligible Credit Support to Party B.

     (ii) ELIGIBLE COLLATERAL. The following items will qualify as "ELIGIBLE
          COLLATERAL":

<TABLE>
<CAPTION>
                                                      Valuation
                                                    Percentage:*     Moody's       S&P
                                                    ------------   ----------   ----------
<S>                                                 <C>            <C>          <C>
(A)  Cash: US Dollars in depository account form.                    [___]%       [___]%

(B)  U.S. Treasury Securities: negotiable debt                       [___]%       [___]%
     obligations issued by the U.S. Treasury
     Department ("Treasuries") having a remaining
     maturity of up to and not more than 1 year.

(C)  Treasuries having a remaining maturity of                       [___]%       [___]%
     greater than 1 year but not more than 5
     years.

(D)  Treasuries having a remaining maturity of                       [___]%       [___]%
     greater than 5 years but not more than 10
     years.

(E)  Treasuries having a remaining maturity of                       [___]%       [___]%
     greater than 10 years but not more than 20
     years.

(F)  Treasuries having a remaining maturity of                       [___]%       [___]%
     greater than 20 years but not more than 30
     years.

(G)  Agency Securities: negotiable debt                              [___]%       [___]%
     obligations of the Federal National Mortgage
     Association (FNMA), Federal Home Loan
     Mortgage Corporation (FHLMC), Federal Home
     Loan Banks (FHLB), Federal Farm Credit Banks
     (FFCB), Student Loan Marketing Association
     (SLMA), Tennessee Valley Authority (TVA)
     (collectively, "Agency Securities") having a
     remaining maturity of not more than 1 year.
</TABLE>

                                       2

<PAGE>

<TABLE>
<S>                                                 <C>            <C>          <C>
(H)  Agency Securities having a remaining                            [___]%       [___]%
     maturity of greater than 1 year but not more
     than 5 years.

(I)  Agency Securities having a remaining                            [___]%       [___]%
     maturity of greater than 5 years but not
     more than 10 years.

(J)  Agency Securities having a remaining                            [___]%       [___]%
     maturity of greater than 10 years but not
     more than 20 years.

(K)  Agency Securities having a remaining                            [___]%       [___]%
     maturity of greater than 20 years but not
     more than 30 years.

(L)  FHLMC Certificates. Mortgage participation                      [___]%       [___]%
     certificates issued by FHLMC evidencing
     undivided interests or participations in
     pools of first lien conventional or FHA/VA
     residential mortgages or deeds of trust,
     guaranteed by FHLMC, and having a remaining
     maturity of not more than 30 years.

(M)  FNMA Certificates. Mortgage-backed                              [___]%       [___]%
     pass-through certificates issued by FNMA
     evidencing undivided interests in pools of
     first lien mortgages or deeds of trust on
     residential properties, guaranteed by FNMA,
     having a remaining maturity of not more than
     30 years.

(N)  GNMA Certificates. Mortgage-backed                              [___]%       [___]%
     pass-through certificates issued by private
     entities, evidencing undivided interests in
     pools of first lien mortgages or deeds of
     trust on single family residences,
     guaranteed by the Government National
     Mortgage Association (GNMA) with the full
     faith and credit of the United States, and
     having a remaining maturity of not more than
     30 years.

(O)  Commercial Paper. Commercial Paper with a                       [___]%       [___]%
     rating of at least P-1 by Moody's, at least
     F-1 by Fitch and at least A-1+ by S&P and
     having a remaining maturity of not more than
     30 days.

(P)  Other. Other items of Credit Support                          % to be      % to be
     approved by each applicable rating agency                     determined   determined
     with such valuation percentages as
     determined by each applicable rating agency.
</TABLE>

                                       3

<PAGE>

----------
*    The Valuation Percentage shall equal the percentage specified under such
     Rating Agency's name above. If the Class ____ Notes are rated by more than
     one Rating Agency specified above, the Valuation Percentage shall equal the
     lowest of the applicable percentages specified above.

     (iii) OTHER ELIGIBLE SUPPORT. Not applicable.

     (iv) THRESHOLDS.

          (A)  "INDEPENDENT AMOUNT" means for Pledgor: zero.

               "INDEPENDENT AMOUNT" means for Secured Party: zero

          (B)  "THRESHOLD" means for Pledgor: zero in the event Party A fails to
               assign all of its rights and obligations under the Agreement on
               or before the thirtieth (30) day after the date of a Downgrade
               Termination Event (as described in Part 1(g)(i)(B) of the
               Schedule) or a Moody's Creditwatch Event (as described in Part
               1(g)(i)(A) of the Schedule) continues to exist; otherwise, the
               Threshold shall be infinite.

          (C)  "MINIMUM TRANSFER AMOUNT" is $___________ for any Delivery Amount
               of Pledgor, unless the Pledgor is a Defaulting Party, in which
               case it is zero, and $__________ for any Return Amount of the
               Secured Party, unless the Secured Party is a Defaulting Party, in
               which case it is zero.

          (D)  ROUNDING: The Delivery Amount will be rounded up to the nearest
               integral multiple of $10,000, and the Return Amount will be
               rounded down to the nearest integral multiple of $10,000.

(c)  VALUATION AND TIMING.

     (i)  "VALUATION AGENT" means the Pledgor; provided, however, that if an
          Event of Default has occurred and is continuing with respect to the
          Pledgor, then the Secured Party shall be the Valuation Agent. The
          Value of Posted Credit Support other than Cash or of any Transfer of
          Eligible Credit Support or Posted Credit Support (other than Cash), as
          the case may be, will be calculated by the Valuation Agent in
          accordance with standard market practice using third party sources
          (such as, by way of example only, Bloomberg or Reuters).

     (ii) "VALUATION DATE" means the first Local Business Day of each week.

     (iii) "VALUATION TIME" means the close of business in the city in which the
          Valuation Agent is located on the Local Business Day before the
          Valuation Date or date of calculation, as applicable; provided that
          the calculations of Value and Exposure will be made as of
          approximately the same time on the same date.

     (iv) "NOTIFICATION TIME" means 11:00 a.m., New York time, on a Local
          Business Day.

                                       4

<PAGE>

(d)  CONDITIONS PRECEDENT AND SECURED PARTY'S RIGHTS AND REMEDIES. No Specified
     Conditions apply.

(e)  SUBSTITUTION.

     (i)  "SUBSTITUTION DATE" has the meaning specified in Paragraph 4(d)(ii).

     (ii) CONSENT. The Pledgor must obtain the Secured Party's prior consent to
          any substitution pursuant to Paragraph 4(d) and shall give Secured
          Party not less than two (2) Local Business Day's notice thereof
          specifying the items of Posted Credit Support intended for
          substitution.

(f)  DISPUTE RESOLUTION.

     (i)  "RESOLUTION TIME" means 1:00 p.m., New York time, on the Local
          Business Day following the date on which the notice is given that
          gives rise to a dispute under Paragraph 5.

     (ii) VALUE. For the purpose of Paragraphs 5(i)(C) and 5(ii), the Value of
          Posted Credit Support other than Cash will be calculated based upon
          the mid-point between the bid and offered purchase rates or prices for
          that Posted Credit Support as reported on the Bloomberg electronic
          service as of the Resolution Time, or if unavailable, as quoted to the
          Valuation Agent as of the Resolution Time by a dealer in that Posted
          Credit Support of recognized standing selected in good faith by the
          Valuation Agent, which calculation shall include any unpaid interest
          on that Posted Credit Support to the extent it is the established
          practice in the relevant market.

     (iii) ALTERNATIVE. The provisions of Paragraph 5 will apply.

(g)  HOLDING AND USING POSTED COLLATERAL.

     (i)  ELIGIBILITY TO HOLD POSTED COLLATERAL; CUSTODIANS. Secured Party will
          not be entitled to hold Posted Collateral itself, and instead the
          Secured Party will be entitled to hold Posted Collateral through the
          Indenture Trustee which Posted Collateral (i) shall not be commingled
          or used with any other asset held by the Indenture Trustee but shall
          be held in a separate account for this purpose only and (ii) shall not
          be transferred to any other person or entity but Party A pursuant to
          the provisions herein except (x) in any case contemplated by Paragraph
          8(a) of this Annex with respect to Party A or (y) as directed by Party
          A.

     (ii) USE OF POSTED COLLATERAL. The provisions of Paragraph 6(c) will not
          apply to Secured Party and without prejudice to Secured Party's rights
          under Paragraph 8 of the Credit Support Annex, Secured Party will not
          take any action specified in such Section 6(c).

(h)  INTEREST AMOUNT.

     (i)  INTEREST RATE. The "INTEREST RATE" means, for any day, the rate set
          forth for that day opposite the caption "Federal Funds (Effective)" in
          the weekly statistical

                                       5

<PAGE>

          release designated "H.15(519)", or any successor publication,
          published by the Board of Governors of the Federal Reserve System.

     (ii) TRANSFER OF INTEREST AMOUNT. The Transfer of the Interest Amount, if
          any, will be made on the first Local Business Day of each calendar
          month and on any Local Business Day that Posted Collateral in the form
          of Cash is Transferred to the Pledgor pursuant to Paragraph 3(b). Any
          Interest Amount paid by Party B to Party A hereunder with respect to
          cash collateral posted by Party A shall not exceed the actual amount
          of interest received by Party B with respect thereto.

     (iii) ALTERNATIVE TO INTEREST AMOUNT. The provisions of Paragraph 6(d)(ii)
          will apply.

(i)  ADDITIONAL REPRESENTATION(S). Not applicable.

(j)  OTHER ELIGIBLE SUPPORT AND OTHER POSTED SUPPORT. Not applicable.

(k)  DEMANDS AND NOTICES. All demands, specifications and notices under this
     Annex will be made to a party as follows unless otherwise specified from
     time to time by that party for purposes of this Annex in a written notice
     given to the other party:

     TO PLEDGOR:

     TO SECURED PARTY:

(l)  ADDRESSES FOR TRANSFERS.

     (i)  For each Transfer hereunder to Pledgor:

     (ii) For each Transfer hereunder to Secured Party:

(m)  AGREEMENT AS TO SINGLE SECURED PARTY AND PLEDGOR. Party A and Party B agree
     that, notwithstanding anything to the contrary in the recital of this
     Annex, Paragraph 1(b) or Paragraph 2 of the definitions in Paragraph 12,
     (a) the term "Secured Party" as used in this Annex means only Party B, (b)
     the term "Pledgor" as used in this Annex means only Party A, (c) only Party
     A makes the pledge and grant in Paragraph 2, the acknowledgment in the
     final sentence of Paragraph 8(a) and the representations in Paragraph 9,
     (d) only Party A shall be required to post Eligible Credit Support
     hereunder and (e) the Events of Default set forth in Paragraph 7(i) will
     not apply to Party B. Party A also agrees that it shall pay all costs of
     transferring Eligible Credit Support required to be delivered by Party A
     hereunder.

(n)  NO GROSS UP. The Secured Party will have no obligation to pay any
     additional amount of the kind specified in Section 2(d)(i)(4) of the
     Agreement with respect to any Interest Amounts or Distributions.

(o)  ELIMINATION OF DEMAND REQUIREMENTS. The parties agree that the phrase "upon
     a demand made by the Secured Party" shall be deleted from Paragraph 3(a) of
     this Credit Support Annex.

                                       6

<PAGE>

(p)  S&P CREDIT SUPPORT AMOUNT. With respect to a Party A Downgrade relating to
     an action taken by S&P, the "CREDIT SUPPORT AMOUNT" shall mean with respect
     to a Pledgor on a Valuation Date the sum of :

     (i)  the greater of MTM and $0, plus

     (ii) VB

     Where:

     "MTM" means Secured Party's Exposure;

     "VB" means the Notional Amount (as defined in the Confirmation for each
     outstanding Transaction under this Agreement) times the relevant percentage
     set out in Table A below:

TABLE A

                                VOLATILITY BUFFER

<TABLE>
<CAPTION>
                                                                        Less than 10 years, but more than   Greater than 10 years to
                                      Less than 5 years to Termination  5 years to Termination Date of the  Termination Date of the
Counterparty                          Date of the Transaction.          Transaction.                        Transaction.
------------                          --------------------------------  ----------------------------------  ------------------------
<S>                                   <C>                               <C>                                 <C>
The rating by S&P of Party A's        [___]%                            [___]%                              [___]%
long-term unsecured, unsubordinated
obligations is at least equal to
"A-2"

The rating by S&P of Party A's        [___]%                            [___]%                              [___]%
long-term unsecured, unsubordinated
obligations is equal to "A-3"

The rating by S&P of Party A's        [___]%                            [___]%                              [___]%
long-term unsecured, unsubordinated
obligations is equal to or less than
"BB+"
</TABLE>

EXPOSURE.

The Parties agree that in the event of a Downgrade Termination Event relating to
an action taken by S&P, the Valuation Agent shall verify its calculation of the
Secured Party's Exposure on a monthly basis by seeking two quotations from
Reference Market-makers at the end of each

                                       7

<PAGE>

month. If 2 Reference Market-makers are not available to provide a quotation,
then fewer than 2 Reference Market-makers may be used for such purpose. If no
Reference Market-makers are available, then the Valuation Agent's estimates at
mid-market will be used. The Valuation Agent may not obtain the quotations
referred to above from the same person in excess of four times during any 12
month period. Where more than 1 quotation is obtained, the quotation
representing the greatest amount of Exposure shall be used by the Valuation
Agent. In the event the verification procedures set forth above indicate that
there is a deficiency in the amount of Eligible Collateral that has been posted
to the Secured Party, the Pledgor shall post the amount of Eligible Collateral
necessary to cure such deficiency to the Secured Party within three Local
Business Days.

                                       8
<PAGE>

IN WITNESS WHEREOF the parties have executed this Credit Support Annex as of the
date hereof.

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

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

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

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

                                       9

<PAGE>

                          SWAP TRANSACTION CONFIRMATION

DATE: ____________, 200[_]

TO: [Volkswagen Auto Loan Enhanced Trust 200[_]-[_]]
    [Volkswagen Auto Lease Trust 200[_]-[_]] ("Party B")
    c/o _____________________________, as Owner Trustee

    _________________________________

    _________________________________

    _________________________________

    Attention: ______________________

    Telephone: ______________________

    Facsimile: ______________________

    _____________________ ("Party A")

FROM: _______________________________

REF. NO. ___________

Dear Sir or Madam:

The purpose of this letter (this "Confirmation") is to confirm the terms and
conditions of the Transaction entered into between us on the Trade Date
specified below (the "Transaction"). This Confirmation constitutes a
"Confirmation" as referred to in the ISDA Master Agreement specified below.

1. The definitions and provisions contained in (i) the 2000 ISDA Definitions
(the "ISDA Definitions"), as published by the International Swaps and
Derivatives Association, Inc, and (ii) the Indenture dated as of
__________________ (the "Indenture") between Party B and ___________________
relating to the issuance by Party B of certain debt obligations, are
incorporated into this Confirmation. In the event of any inconsistency between
the ISDA Definitions and this Confirmation, this Confirmation will govern.
References herein to a "Transaction" shall be deemed to be references to a "Swap
Transaction" for purposes of the ISDA Definitions. Capitalized terms used but
not defined herein have the meanings ascribed to them in the Indenture.

<PAGE>

2. The terms of the particular Transaction to which the Confirmation relates are
as follows:

Transaction Type:                Interest Rate Swap

Currency for Payments:           U.S. Dollars

Notional Amount:                 For the Initial Calculation Period, the
                                 Notional Amount shall be equal to USD
                                 ___________. For each subsequent Calculation
                                 Period, the Notional Amount shall be equal to
                                 the aggregate Note Balance of the Class ___
                                 Notes on the first day of such Calculation
                                 Period. With respect to any Payment Date, the
                                 aggregate Note Balance of the Class ___ Notes
                                 will be determined using the Servicer
                                 Certificate issued on the Determination Date
                                 immediately preceding the Payment Date (giving
                                 effect to any reductions of the Note Balance of
                                 the Class ___ Notes reflected in such Servicer
                                 Certificate).

Initial Calculation Period:      _______, 200[_] to but excluding _______, 200_.

Term:
   Trade Date:                   ____________, 200[_]
   Effective Date:               ____________, 200[_]
   Termination Date:             The earlier of (i) [insert legal final maturity
                                 date of the Class ___ Notes] and (ii) the date
                                 on which the Note Balance of the Class ___
                                 Notes is reduced to zero.

Fixed Amounts:
   Fixed Rate Payer:             Party B
   Calculation Period End        Monthly on the ____ of each month, commencing
   Dates:                        ___________, 200[_], through and including the
                                 Termination Date; No Adjustment.
   Payment Dates:                Monthly on the [20th] of each month, commencing
                                 ___________, 200[_], through and including the
                                 Termination Date.
   Business Day Convention:      Following
   Business Day:                 [London,] New York, Delaware, Illinois and
                                 Michigan
   Fixed Rate:                   _____%
   Fixed Rate Day Count Basis:   30/360

Floating Amounts:

<PAGE>

   Floating Rate Payer:          Party A
   Calculation Period End        Monthly on the ____ of each month, commencing
   Dates:                        ___________, 200[_], through and including the
                                 Termination Date, subject to adjustment in
                                 accordance with the Following Business Day
                                 Convention.
   Payment Dates:                Monthly on the [20th] of each month, commencing
                                 ___________, 200[_], through and including the
                                 Termination Date.
   Business Day Convention:
   Business Day:                 Following
      For Payment Dates:
      For Reset Dates:           [London,] New York, Delaware, Illinois and
                                 Michigan
   Floating Rate Option:         London
   Designated Maturity:          USD-LIBOR-BBA
   Spread:                       1 Month
   Floating Rate Day Count:      _________________________
   Basis:                        _________________________
   Reset Dates:
   Compounding:                  Actual/360
                                 The first day of each Calculation Period.
                                 Inapplicable

3. The additional provisions of this Confirmation are as follows:

Calculation Agent:               Party [B]

Payments to Party A:

Payments to Party B:

4. Documentation

This Confirmation supplements, forms a part of, and is subject to, the 1992 ISDA
Master Agreement dated as of _____________, ________ (including the Schedule
thereto) as amended and supplemented from time to time (the "Agreement") between
you and us. All provisions contained in the Agreement govern this Confirmation
except as expressly modified herein.

<PAGE>

Unless otherwise provided in the Agreement, this Confirmation is governed by the
laws of the State of New York.

Please confirm that the foregoing correctly sets forth the terms of our
agreement by executing a copy of this Confirmation and returning it to us.

                                        Very truly yours,

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

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

Accepted and confirmed as of the date first above written:

[VOLKSWAGEN AUTO LEASE TRUST 200[_]-[_]]
[VOLKSWAGEN AUTO LOAN ENHANCED TRUST 200[_]-[_]]

BY: [OWNER TRUSTEE]

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

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}]]