SMART

 

Macquarie Leasing established a securitisation program (the SMART Program) in 2002 pursuant to the Master Trust Deed for the purpose of enabling the Trustee to issue debt instruments and to apply the proceeds of those debt instruments to invest in assets originated from time to time by the Macquarie Group. The Master Trust Deed provides for the creation of an unlimited number of series trusts. Each series trust is a separate and distinct trust fund and is created pursuant to the Master Trust Deed, a trust creation deed and a series supplement establishing specific provisions of the relevant series trust and the instruments to be issued by that series trust. Multiple classes of notes may be issued in relation to each series trust that differ amongst themselves as to, among other things, currency of denomination and payment, priority of repayment and credit risk.  Macquarie uses the SMART program for the securitisation of motor vehicle and equipment leases.

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