UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549

FORM 10-K
 (Mark One)
x 
xANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (FEE NOT REQUIRED)

For the fiscal year ended March 31, 2004

2010

or
 
o
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)

For the transition period from __________________ to _________________________

333-147542-04
(Commission file numbers 333-106763,
333-106763-01, 333-106763-02 and 333-106763-03

number of Issuing Entity)

NISSAN AUTO LEASE TRUST 2003-A2009-B
(Issuer with respect to the Notes)Exact name of issuing entity specified in its charter)

333-147542
(Commission file number of Depositor)
NISSAN AUTO LEASING LLC II
(Originator of the Note Issuer and Transferor of the SUBI Certificate to the Note Issuer)

NILT TRUST

(Transferor of the SUBI Certificate to Nissan Auto Leasing LLC II)

NISSAN-INFINITI

(Issuer with respect to the SUBI Certificate)

(Exact name of registrantdepositor as specified in its charter)
NISSAN MOTOR ACCEPTANCE CORPORATION
(Exact name of sponsor as specified in its charter)
DELAWARE Nissan Auto Leasing LLC II
95-4885574

NILT Trust 52-6935346
Nissan-Infiniti LT 33-6226449
Nissan Auto Lease Trust 2003-A
51-6538955
38-6883522
(State or other jurisdiction of
incorporation or organization)organization of the Issuing Entity)		 
(I.R.S. Employer
Identification No.)
990 West 190th Street, Torrance, California 90502
(Address of principal executive offices)
(310) 719-8509
(Registrant’s telephone number, including area code)
One Nissan Way, Franklin, Tennessee                                                                                                                           ;    37067

(Address of principal executive offices)                                                                                                                         (Zip Code)
Registrant’s telephone number, including area code                                                                                                           (615) 725-1127
Securities registered pursuant to Section 12(b) of the Act:  None

Securities registered pursuant to Section 12(g) of the Act:  None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes  o No x
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes  o No x


Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yesx  Noo

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§229.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes  x  No  o
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’sregistrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.x

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See definition of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.  (Check one):
Large Accelerated Filer:      o                                                                             Accelerated Filer:   o
Non-Accelerated Filer:       x                                                                            Smaller reporting company:   o
(Do not check if a smaller reporting company)
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes  o  No  x
State the aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant. The aggregate market value shall be computed by reference to the price at which the common equity was last sold, or the average bid and asked pricesprice of such common equity, as of a specified date within 60 days prior to the datelast business day of filing. (See definitionthe registrant’s most recently completed second fiscal quarter.  Not applicable.
Indicate the number of affiliate in Rule 405, 17 CFR 230.405.) None

shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date.  Not applicable.

TABLE OF CONTENTSDOCUMENTS INCORPORATED BY REFERENCE

PART I
Item 1. BUSINESS
Item 2. PROPERTIES
Item 3. LEGAL PROCEEDINGS
Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
PART II
Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
PART IV
Item 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K
SIGNATURES
EXHIBIT INDEX
EXHIBIT 99.1
EXHIBIT 99.2

PART I

Item 1. BUSINESS.

     This Annual Report onList hereunder the following documents if incorporated by reference and the Part of the Form 10-K (e.g., Part I, Part II, etc.) into which the document is beingincorporated:  (1) Any annual report to security holder; (2) Any proxy or information statement; and (3) Any prospectus filed by Nissan Auto Leasing LLC II (“NALL II”), Nissan-Infiniti LT (“NILT), NILT Trust and Nissan Auto Lease Trust 2003-A (the “Trust”), a Delaware statutory trust formed pursuant to a trust agreement, dated as of May 31, 2003, between NALL II, as Transferor (the “Transferor”), and Wilmington Trust Company, as owner trustee (the “Owner Trustee”). Reference is further made to the Indenture, dated as of October 29, 2003, among the Trust, as issuer, and U.S. Bank National Association, as indenture trustee (the “Indenture Trustee,” together with the Owner Trustee, the “Trustees”), providing for the issuance by the Trust of notes entitled “Nissan Auto Lease Trust 2003-A 1.16563% Asset Backed Notes, Class A-1” (the “Class A-1 Notes”), “Nissan Auto Lease Trust 2003-A 1.69000% Asset Backed Notes, Class A-2” (the “Class A-2 Notes”), “Nissan Auto Lease Trust 2003-A Floating Rate Asset Backed Notes, Class A-3a” (the “Class A-3a Notes”) and “Nissan Auto Lease Trust 2003-A 2.57000% Asset Backed Notes, Class A-3b” (the “Class A-3b Notes”, together with the Class A-1 Notes, the Class A-2 Notes and the Class A-3a Notes, the “Notes”), registeredRule 424(b) or (c) under the Securities Act of 1933.  The listed documents should be clearly described for identification purposes (e.g., annual report to security holders for the fiscal year ended December 24, 1980).  None



PART I
Item 1.
Business.
Not applicable.
Item 1A.
Risk Factors.
Not applicable.
Item 1B.
Unresolved Staff Comments.
Not applicable.
Item 2.
Properties.
Not applicable.
Item 3.
Legal Proceedings.
Not applicable.
Item 4.
Submission of Matters to a Vote of Security Holders.
No matter was submitted during the fiscal year covered by this annual report to a vote of holders of either the asset-backed notes (the “Notes”) or the asset-backed certificates (the “Certificates”).
       SUBSTITUTE INFORMATION PROVIDED IN ACCORDANCE WITH
       GENERAL INSTRUCTION J TO FORM 10-K:
Item 1112(b) of Regulation AB, Significant Obligors of Pool Assets (Financial Information).
Not applicable.
Items 1114(b)(2) of Regulation AB, Credit Enhancement and Other Support, Except for Certain information that may otherwise have been requiredDerivatives Instruments (Information Regarding Significant Enhancement Providers – Financial Information).
Not applicable.
Items 1115(b) of Regulation AB, Certain Derivatives Instruments (Financial Information).
Not applicable.
Item 1117 of Regulation AB, Legal Proceedings.
There are no legal proceedings pending, or any proceedings known to be included herein pursuantcontemplated by governmental authorities, against Nissan Motor Acceptance Corporation (“NMAC” or the “Servicer” and “Sponsor”), Nissan Auto Leasing LLC II (the “Depositor”), U.S. Bank National Association (the “Indenture Trustee”), Wilmington Trust Company (the “Owner Trustee”), Nissan Auto Lease Trust 2009-B (the “Issuing Entity”), or any property thereof, that are or would be material to Form 10-K has been omitted herefrom, or in certain cases certain information has been included herein in lieu of such otherwise required information, in accordance with the letter, dated June 28, 1996 (the “No-Action Letter”),holders of the staff of the Office of Chief Counsel of the Division of Corporation Finance of the SecuritiesNotes and Exchange Commission issued with respect to series of pass-through securities issued by trusts formed by the Transferor or an affiliate thereof, as originator, including the Notes.Certificates.

Item 2. PROPERTIES.

     The following table sets forth the aggregate information of the Trust for the period from October 29, 2003 through March 31, 2004 (Dollars in thousands). The aggregate information has been reported on an accrual basis. Therefore, cash activity for the month of March 2004, which was subsequently settled on April 15, 2004, is included.

     
Principal Distributions $196,429 
Interest Distributions $9,245 
Servicing Fees Paid to Servicer (NMAC) $6,677 
Class A-1 Notes Percentage of Servicing Fees  11.28%
Class A-2 Notes Percentage of Servicing Fees  20.74%
Class A-3a Notes Percentage of Servicing Fees  28.45%
Class A-3b Notes Percentage of Servicing Fees  25.64%
Certificates Percentage of Servicing Fees  13.88%
Additional Servicing Compensation Paid to Servicer (NMAC) $0.00 
Net Credit Losses $(2,455)
Cumulative Residual Loss $(1,578)

2


PART II
Item 5.
Market for Registrant's Common Equity and Related Stockholder Matters.
 (a)
Total Number of Auctioned Vehicles583
Average Net Credit Loss Ratio (including repossessions)0.05%
Total Number of Defaulted Contracts602Not applicable.
         
  Number of  
  Delinquency Dollar Amount of
  Ratios
 Accounts
61 Days or More Delinquent  0.22%  0.25%
         
  Number of  
  Delinquent  
  Accounts
 ($ in thousands)
61 Days or More Delinquent  833  $19,088 
(b)Not applicable.

Item 3. LEGAL PROCEEDINGS.

Item 6.
Selected Financial Data.
Not applicable.
Item 7.
Management’s Discussion and Analysis of Financial Condition and Results of Operations.
Not applicable.
Item 7A.
Quantitative and Qualitative Disclosures About Market Risk.
Not applicable.
Item 8.
Financial Statements and Supplementary Data.
Not applicable.
Item 9.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
Nothing to report.

Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

          Nothing to report.

PART II

Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

(a)Item 9A.
Controls and Procedures.

Not applicable.
Item 9A.(T)There is no established public trading market for the common equity
Controls and Procedures.
Not applicable.
Item 9B.
Other Information.
No other information.
PART III
Item 10.
Directors and Executive Officers of the Trust.
(b)On March 31, 2004, there was one holder of record of the common equity issued by the Trust.Registrant.

Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.

          Nothingnot applicable due to report.no directors or executive officers.

PART IV

Item 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K.

(a)Item 11.
Executive Compensation.

Not applicable.
Item 12.List
Security Ownership of documents filed as part of the Annual Report:Certain Beneficial Owners and Management and Related Stockholder Matters.
Not applicable.


Item 13.
Certain Relationships and Related Transactions.
Not applicable.
Item 14.
Principal Accountant Fees and Services.
Not applicable.
       SUBSTITUTE INFORMATION PROVIDED IN ACCORDANCE WITH
       GENERAL INSTRUCTION J TO FORM 10-K:
Item 1119 of Regulation AB, Affiliations and Certain Relationships and Related Transactions
The Sponsor originates all of the pool assets (in such capacity, the “Originator”) assigned to Nissan-Infiniti LT (the “Titling Trust”).  The Titling Trust issues undivided beneficial interests in the pool assets to NILT Trust, including the 2009-A SUBI Certificate.  NILT Trust has sold the 2009-B SUBI Certificate to the Depositor, which has transferred the 2009-B SUBI Certificate to the Issuing Entity.  The Sponsor services the pool assets.
NMAC (including in its role as originator, servicer and sponsor) is the sole member of the Depositor and owns all of the beneficial interests in NILT Trust.  NILT Trust owns all of the beneficial interests in the Titling Trust.  In connection with the transfer of the 2009-B SUBI Certificate, the Depositor has acquired a 100% ownership interest in the Issuing Entity.  Accordingly, the Sponsor, the Depositor and the Issuing Entity are affiliates of NILT Trust, the Titling Trust and each other.
The Indenture Trustee is not affiliated with the Sponsor (including in its role as originator and servicer), the Depositor, the Issuing Entity, the Titling Trust or NILT Trust.
There are no significant obligors, external enhancement or support providers, or other material parties related to the Notes or Certificates.
In addition, there are no business relationships, agreements, arrangements, transactions or understandings outside the ordinary course of business or on terms other than would be obtained in an arm’s length transaction with an unrelated party, apart from this asset-backed securities transaction involving the issuance of the Notes and Certificates by the Issuing Entity, between the Sponsor, the Depositor or the Issuing Entity and any of the parties, or affiliates of such parties, mentioned in this Item.
Item 1122 of Regulation AB, Compliance with applicable Servicing Criteria
 (a)The exhibits listed on the accompanying Exhibit Index on page 7following documents are filed as part of this report.

3

Exhibit No.
(b)Reports onForm 8-K:
 33.1NALL II, NILT, NILT Trust and the Trust filed certain transaction documents in connectionReport on Assessment of Compliance with the closeApplicable Servicing Criteria for Asset-Backed Securities of the transaction to issue the Notes on October 29, 2003 and November 12, 2003 in Current Reports on Form 8-K. In addition, NALL II, NILT, NILT Trust and the Trust filed Current Reports on Form 8-K regarding monthly distributions of principal and interest to noteholders on November 26, 2003 for the month ended October 31, 2003, on December 19, 2003 for the month ended November 30, 2003, on January 27, 2004 for the month ended December 31, 2003, on February 27, 2003 for the month ended January 31, 2004, on March 26, 2004 for the month ended February 29, 2004, and on April 22, 2004 for the month ended March 31, 2004, and included in each such Form 8-K report, as Exhibit 20.1, was the monthly settlement statement for each respective month end as provided by the Servicer to the Trustees.Nissan Motor Acceptance Corporation

4

33.2Management’s Assertion on Compliance with Regulation AB (U.S. Bank National Association)
34.1Report of Independent Registered Public Accounting Firm (Ernst & Young LLP)
34.2Report of Independent Registered Public Accounting Firm (Ernst & Young LLP)


The Servicer has complied, in all material respects, with the Applicable Servicing Criteria.
Item 1123 of Regulation AB, Servicer Compliance Statement
(a)The following documents are filed as part of this report.

Exhibit No.
35.1Servicer Compliance Statement of Nissan Motor Acceptance Corporation
PART IV
Item 15.
Exhibits and Financial Statement Schedules.
(a)(1)Not applicable.
(a)(2)Not applicable.
(a)(3)The exhibits filed in response to Item 601 of Regulation S-K are listed in the Exhibit Index.
(b)The exhibits filed in response to Item 601 of Regulation S-K are listed in the Exhibit Index.
(c)Not applicable.
Supplemental information to be furnished with Reports Filed Pursuant to Section 15(d) of the Act by Registrants which have not Registered Securities Pursuant to Section 12 of the Act.
No annual report, proxy statement, form of proxy or other proxy soliciting material has been sent to certificateholders, and the registrant does not presently contemplate sending any such materials subsequent to the filing of this report.


SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

                      NISSAN AUTO LEASE TRUST 2009-B
                      By:      Nissan Motor Acceptance Corporation,
                       as servicer
                      By: /s/ Steven R. Lambert     
                     Steven R. Lambert
                      President and Chief Executive Officer
                      (senior officer in charge of the servicing function)
Date:                      June 28, 200430, 2010



EXHIBIT INDEX
The following exhibits are filed as part of this annual report or, where indicated, were heretofore filed and are hereby incorporated by reference.
Exhibit No. 
3.1NISSAN AUTO LEASING LLCCertificate of Formation of NALL II
3.2Limited Liability Company Agreement of NALL II
4.1By:/s/ Joji TagawaIndenture, dated as of September 11, 2009, by and between the Issuing Entity, and the Indenture Trustee (incorporated by reference to Exhibit 4.1 of Form 8-K, dated September 3, 2009, File No. 333-147542-04)
10.1
Agreement of Definitions, dated as of September 11, 2009, by and among NILT Trust, as grantor and UTI Beneficiary, NMAC, as servicer, NILT, Inc., as trustee, Wilmington Trust Company (“Wilmington Trust”), as Delaware trustee, and U.S. Bank National Association (“U.S. Bank”), as trust agent (incorporated by reference to Exhibit 10.1 of Form 8-K, dated September 3, 2009, File No. 333-147542-04)
10.2Name:
Title:		Joji Tagawa
Treasurer		2009-B SUBI Supplement, dated as of September 11, 2009, by and among NILT Trust, as grantor and UTI Beneficiary, NMAC, as servicer, NILT, Inc., as trustee, Wilmington Trust, as Delaware trustee, and U.S. Bank, as trust agent (incorporated by reference to Exhibit 10.2 of Form 8-K, dated September 3, 2009, File No. 333-147542-04)
10.32009-B Servicing Supplement, dated as of September 11, 2009, by and among the Titling Trust, NILT Trust, as UTI beneficiary, and NMAC, as servicer (incorporated by reference to Exhibit 10.3 of Form 8-K, dated September 3, 2009, File No. 333-147542-04)
10.4NISSAN AUTO LEASE TRUST 2003-A
By:Amended and Restated Trust Agreement for the Issuing Entity, dated as of September 11, 2009, by and between Nissan Auto Leasing LLC II solely(“NALL II”), as originatortransferor (the “Transferor”) and the Owner Trustee (incorporated by reference to Exhibit 10.4 of Form 8-K, dated September 3, 2009, File No. 333-147542-04)
10.5Trust Administration Agreement, dated as of September 11, 2009, by and among the Issuing Entity, NMAC, as administrative agent, the Transferor, and the Indenture Trustee (incorporated by reference to Exhibit 10.5 of Form 8-K, dated September 3, 2009, File No. 333-147542-04)
10.6Back-Up Security Agreement, dated as of September 11, 2009, by and among NMAC, the Titling Trust, NILT Trust, the Transferor, the Issuing Entity and the Indenture Trustee (incorporated by reference to Exhibit 10.6 of Form 8-K, dated September 3, 2009, File No. 333-147542-04)
10.7Control Agreement, dated as of September 11, 2009, by and among the Issuing Entity, U.S. Bank, as indenture trustee and secured party, and U.S. Bank, as securities intermediary (incorporated by reference to Exhibit 10.7 of Form 8-K, dated September 3, 2009, File No. 333-147542-04)
10.8SUBI Certificate Transfer Agreement, dated as of September 11, 2009, by and between NILT Trust, as transferor, and NALL II, as transferee (incorporated by reference to Exhibit 10.8 of Form 8-K, dated September 3, 2009, File No. 333-147542-04)
10.9Trust SUBI Certificate Transfer Agreement, dated as of September 11, 2009, by and between NALL II, as transferor and the Issuing Entity, as transferee (incorporated by reference to Exhibit 10.9 of Form 8-K, dated September 3, 2009, File No. 333-147542-04)
31.1Certification of Senior Officer in Charge of the Servicing Function of the Servicer Pursuant to Rule 15d-14(d)
33.1Report on Assessment of Compliance With Applicable Servicing Criteria for Asset-Backed Securities of Nissan Auto Lease 2003-AMotor Acceptance Corporation
33.2Management’s Assertion on Compliance With Regulation AB (U.S. Bank National Association)
34.1By:/s/ Joji TagawaReport of Independent Registered Public Accounting Firm (Ernst & Young LLP)
34.2
Report of Independent Registered Public Accounting Firm (Ernst & Young LLP)
35.1Name:Joji TagawaServicer Compliance Statement of Nissan Motor Acceptance Corporation
99.1Title:Treasurer
NILT TRUST
By:Annual Servicer’s Certificate Provided by Nissan Motor Acceptance Corporation solely as grantorto Holders of Notes and beneficiary
By:/s/ Joji Tagawa
Name:Joji Tagawa
Title:Treasurer
NISSAN-INFINITI LT
By:Nissan Motor Acceptance Corporation, solely as originator of Nissan-Infiniti LT
By:/s/ Joji Tagawa
Name:Joji Tagawa
Title:TreasurerCertificates

5

CERTIFICATION PURSUANT TO SECTION 302(A)
OF THE SARBANES-OXLEY ACT OF 2002

          I, Joji Tagawa, certify that:

          (1) I have reviewed this annual report on Form 10-K, and all reports on Form 8-K containing distribution or settlement statements filed in respect of periods included in the year covered by this annual report, of Nissan Auto Lease Trust 2003-A;

          (2) Based on my knowledge, the information in these reports, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the last day of the period covered by this annual report;

          (3) Based on my knowledge, the distribution or servicing information required to be provided to the trustee by the servicer under the pooling and servicing, or similar agreement, for inclusion in these reports, is included in these reports;

          (4) Based on my knowledge and upon the annual compliance statement included in the report and required to be delivered to the trustee in accordance with the terms of the pooling and servicing agreement, or similar agreement, and except as disclosed in the reports, the servicer has fulfilled its obligations under the servicing agreement; and

          (5) The reports disclose all significant deficiencies relating to the servicer’s compliance with the minimum servicing standards based upon the report provided by an independent public accountant, after conducting a review in compliance with the Uniform Single Attestation Program for Mortgage Bankers or similar procedure, as set forth in the pooling and servicing, or similar agreement that is included in these reports.

June 28, 2004

By:    /s/ Joji Tagawa
Joji Tagawa
Treasurer
Nissan Auto Leasing LLC II

6

EXHIBIT INDEX

       
    Sequentially
    Numbered
Exhibit No.
 Description
 Page
99.1 Report of Independent Accountants and Management’s Assertion on Compliance with Nissan Motor Acceptance’s Established Minimum Servicing Standards for Automobile Leases  8 
       
99.2 Officer’s Certificate of the Servicer Regarding Compliance, dated as of March 31, 2004  12 

7