Disposition of Vehicles Sample Clauses

Disposition of Vehicles. The Wichita Police Department will provide the first legal notification to the owner of the impounded vehicle at the City’s expense, as required by State Statute. The remaining statutory notifications are the sole responsibility of the Wrecker Contractor. All costs associated with the required subsequent notifications shall be at the sole expense of the Wrecker Contractor. After the required statutory period has passed, Wrecker Contractor will be allowed to auction the vehicle. The disposal of impounded vehicles shall be in compliance pursuant to all of the requirements set forth in K.S.A. 8-1102. Wrecker Contractor will hold the City harmless and indemnify the City from all claims, suits, actions, and proceedings of every name or description as a result the improper sale of any vehicle, or Wrecker Contractor’s failure to properly notify the legal owner of the sale as required by law, unless the City illegally or improperly impounded the vehicle. Wrecker Contractor will utilize their selected auction firm for selling impounded vehicles utilizing an on-line auction service. Wrecker Contractor shall notify the Wichita Police Department within twenty (20) days of execution of this agreement, the Auction Firm they have selected. Wrecker Contractor may not own, or have any ownership interest, in any Auction Firm used by the Wrecker Contractor. The Wichita Police Department must be notified in writing within ten (10) days of any change in the selected Auction Firm. The selected Auction Firm representative will photograph and write a description of each vehicle or equipment to be sold. Vehicles and/or equipment will be sold in the next available auction, after the required thirty (30) day waiting period, or as required in State Statute. The selected Auction Firm will advertise a Legal Publication of the vehicle(s) and/or equipment sale and send the legal publication affidavit to Wichita Police Department staff prior to the sale date. The Wrecker Contractor will remove and properly dispose of (destroy) the license plates from vehicles prior to the auction date. Wrecker Contractor will not remove ANY parts from vehicle prior to citizen pickup or auction. All publication costs are the sole responsibility of the Wrecker Contractor or its selected Auction Firm. Wrecker Contractor shall allow potential public auction purchasers the ability to register, bid on impound vehicles and have access to inspect vehicles by appointment only, or a designated open house, during no...
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Disposition of Vehicles. (a) HVF III shall turn in, or cause to be turned in, each Program Vehicle to the relevant Manufacturer within the Repurchase Period therefor in accordance with the applicable Manufacturer Program unless, prior to the end of such Repurchase Period, the Lessee has re-designated such Program Vehicle as a Non-Program Vehicle in accordance with Section 2.5(a) (Mandatory Program Vehicle to Non-Program Vehicle Redesignations) or Section 2.5(b) (Optional Program Vehicle to Non-Program Vehicle Redesignations) of the Lease.
Sample 1
Disposition of Vehicles. Notwithstanding anything to the contrary contained herein, the Lessor shall have the right, at any time prior to the date thirty (30) days prior to the expiration of the Maximum Term for any Repurchase Vehicle, or at any time, with respect to Non-Repurchase Vehicles, to require that the Lessee leasing such Vehicle from the Lessor hereunder exercise commercially reasonable efforts to arrange for the sale of such Vehicle to a third party, in which event such Lessee shall (i) until not later than the date thirty (30) days prior to the expiration of such Maximum Term, with respect to Repurchase Vehicles, or promptly thereafter, with respect to Non-Repurchase Vehicles, exercise commercially reasonable efforts to arrange for the sale of such Vehicle to a third party for a price greater than the Net Book Value, with respect to Repurchase Vehicles, or for the Non-Repurchase Vehicle Value, with respect to Non-Repurchase Vehicles, or (ii) purchase such Vehicle from the Lessor for the Vehicle Purchase Price, with respect to Repurchase Vehicles, or the Non-Repurchase Vehicle Value, with respect to Non-Repurchase Vehicles. If a sale of the Vehicle is arranged by the Lessee, then the Lessee shall deliver the Vehicle to the purchaser thereof, the Lien of the Trustee on the Certificate of Title of such Vehicle shall be released, and the Lessee shall cause to be delivered to the Lessor the funds paid for such Vehicle by the purchaser. If the Lessee is unable to arrange for a sale of a Repurchase Vehicle prior to such date thirty (30) days prior to the expiration of the Maximum Term of such Repurchase Vehicle, then the Lessee shall cease attempting to arrange for such a sale and shall return such Repurchase Vehicle to the applicable Manufacturer as herein provided. If the Lessee is unable to arrange for a sale of a Non-Repurchase Vehicle for an amount in excess of the Non-Repurchase Vehicle Value thereof prior to the end of the twenty-four month period referred to in the proviso clause contained in Section 3.2 hereof, or such longer period as may be approved by the Rating Agencies, then the Lessee shall cease attempting to arrange for such sale and shall arrange for the sale of such Vehicle at auction with commercially reasonable efforts to maximize the sale price. If any period for which a Vehicle's age is unknown, such period shall be determined by dividing the number of miles on the odometer of such Vehicle at the time of its purchase by the Issuer by 1500. Notwithstandi...
Sample 1
Disposition of Vehicles. LESSOR shall, and LESSEE may, solicit from prospective purchasers in the wholesale vehicle market cash bids for surrendered Vehicles on an AS IS, WHERE IS BASIS, WITHOUT RECOURSE OR WARRANTY. Such Vehicles shall be sold in a commercially reasonable manner for cash payable in full upon delivery. If repairs to a Vehicle surrendered by LESSEE shall be deemed advisable by LESSOR before sale, LESSOR shall so notify LESSEE and LESSEE shall pay all costs for such repairs. Without limiting the generality of the foregoing, LESSOR shall have the right to sell Vehicles to any dealer or broker or any other party, including to or through companies affiliated with LESSOR.
Sample 1
Disposition of Vehicles. Contractor shall ensure that any disposal vehicle including any scrap, waste or hazardous materials are removed in compliance with Federal, State, and local laws and regulations. Contractor may salvage and/or recycle any material from vehicles, but vehicles may not be reconstructed or made operable. Vehicles must be taken directly to a licensed salvaged or scrap yard, or a licensed motor vehicle demolisher. Junked vehicles shall not be taken to, nor stored, even temporarily, at any location other than a licensed salvage or scrap yard, or a licensed motor vehicle demolisher’s yard.
Sample 1
Disposition of Vehicles. 4.1 Any vehicle impounded under the provisions of this Agreement may be sold at public sale in accordance with applicable State law. Operator shall comply with all applicable state and local laws governing abandoned and junked motor vehicles, including but not limited to Chapter 683, TEX. TRANS. CODE, as amended.
Sample 1

Related to Disposition of Vehicles

  • Disposition of Collateral Such Grantor will not sell, lease or otherwise dispose of the Collateral owned by it except for dispositions specifically permitted pursuant to Section 6.05 of the Credit Agreement.

  • Disposition of Property Dispose of any of its property, whether now owned or hereafter acquired, or, in the case of any Subsidiary, issue or sell any shares of such Subsidiary’s Capital Stock to any Person, except:

  • Dispositions and Involuntary Dispositions The Borrower shall, within ten (10) Business Days of the receipt of any Net Cash Proceeds received by any Loan Party or any Subsidiary from any Dispositions (other than Dispositions permitted pursuant to Section 7.05, except clause (c) thereof) and Involuntary Dispositions, prepay the Loans and/or Cash Collateralize the L/C Obligations as hereinafter provided, in an aggregate amount equal to (x) if the Consolidated Leverage Ratio for the most recently ended Measurement Period, is greater than 2.00 to 1.00, 100% of the Net Cash Proceeds from such Disposition or Involuntary Disposition or (y) if the Consolidated Leverage Ratio for the most recently ended Measurement Period, is equal to or less than 2.00 to 1.00, 0% of the Net Cash Proceeds from such Disposition or Involuntary Disposition; provided, however, that so long as no Event of Default shall have occurred and be continuing, such Net Cash Proceeds shall not be required to be so applied (A) until the aggregate amount of the Net Cash Proceeds derived from any such Disposition or Involuntary Disposition in any fiscal year of the Borrower is equal to or greater than $2,000,000 and (B) at the election of the Borrower) as notified by the Borrower to the Administrative Agent on or prior to the date that any mandatory prepayment is due and payable pursuant to this clause (i) to the extent such Loan Party or such Subsidiary reinvests all or any portion of such Net Cash Proceeds in like assets of the general type used in the business of Holdings and its Subsidiaries within 365 days after the receipt of such Net Cash Proceeds; provided that, if the Borrower or its Subsidiaries enters into a legally binding commitment to invest such Net Cash Proceeds within such 365-day period, it may directly or through one or more of its Subsidiaries so invest such Net Cash Proceeds within 180 days after such 365 day period; provided further that if such Net Cash Proceeds shall have not been so reinvested, such Net Cash Proceeds shall be immediately applied to prepay the Loans and/or Cash Collateralize the L/C Obligations in accordance with the terms of this Section 2.05(b).

  • Disposition of Proceeds The Security Documents contain an assignment by the Borrower and/or the Guarantors unto and in favor of the Collateral Agent for the benefit of the Lenders of all of the Borrower’s or each Guarantor’s interest in and to their as-extracted collateral in the form of production and all proceeds attributable thereto which may be produced from or allocated to the Mortgaged Property. The Security Documents further provide in general for the application of such proceeds to the satisfaction of the Obligations described therein and secured thereby. Notwithstanding the assignment contained in such Security Documents, until the occurrence of an Event of Default, (a) the Administrative Agent and the Lenders agree that they will neither notify the purchaser or purchasers of such production nor take any other action to cause such proceeds to be remitted to the Administrative Agent or the Lenders, but the Lenders will instead permit such proceeds to be paid to the Borrower and its Subsidiaries and (b) the Lenders hereby authorize the Administrative Agent to take such actions as may be necessary to cause such proceeds to be paid to the Borrower and/or such Subsidiaries.

  • No Disposition of Collateral Secured Party does not authorize, and Debtor agrees not to:

  • Use and Disposition of Collateral None of the Grantors shall make or permit to be made an assignment, pledge or hypothecation of the Collateral or shall grant any other Lien in respect of the Collateral, except as expressly permitted by Section 6.02

  • Other Dispositions Notwithstanding the foregoing provisions of this Article X, so long as an Event of Default shall have occurred and be continuing, any amount that would otherwise be payable to or for the account of, or that would otherwise be retained by, Lessee pursuant to this Article X shall be paid to the Agent (or Lessor if the Loans have been fully paid) as security for the obligations of the Lessees under this Lease and, at such time thereafter as no Event of Default shall be continuing, such amount shall be paid promptly to the related Lessee to the extent not previously applied by Lessor or the Agent in accordance with the terms of this Lease or the other Operative Documents.

  • Notice of Disposition of Collateral Debtor hereby agrees that notice of the time and place of any public sale or the time after which any private sale or other disposition of all or any part of the Collateral may be made shall be deemed reasonable if sent to Debtor, addressed as set forth in Article X, at least ten (10) days prior to (a) the date of any such public sale or (b) the time after which any such private sale or other disposition may be made.

  • Disposition of Assets; Etc The Borrower will not, and will not permit any of its Subsidiaries to, sell, lease, license, transfer, assign or otherwise dispose of any of its business, assets, rights, revenues or property, real, personal or mixed, tangible or intangible, whether in one or a series of transactions, other than inventory sold in the ordinary course of business upon customary credit terms, sales of scrap or obsolete material or equipment, the lapse of intellectual property of the Borrower or any of its Subsidiaries that is no longer useful or material to their business and sales of fixed assets the proceeds of which are used to purchase other property of a similar nature of at least equivalent value within 180 days of such sale, provided, however, that this Section 6.09 shall not (a) prohibit any sale or other transfer of an interest in accounts or notes receivable to a Securitization Entity pursuant to Permitted Securitization Transactions if the aggregate outstanding principal amount of the Indebtedness under all Permitted Securitization Transactions does not exceed $250,000,000, (b) prohibit any sale or other transfer of any asset of the Borrower or any Subsidiary to the Borrower or any Subsidiary that is a Guarantor and (c) prohibit any such sale, lease, license, transfer, assignment or other disposition if the aggregate book value (disregarding any write-downs of such book value other than ordinary depreciation and amortization) of all of the business, assets, rights, revenues and property sold, leased, licensed, transferred, assigned or otherwise disposed of after the Effective Date and on or prior to such transaction date shall be less than 40% of the aggregate book value of the Consolidated Total Assets as of the end of the fiscal year immediately preceding such transaction and the aggregate amount of businesses, assets, rights, revenues and property sold, leased, licensed, transferred, assigned or otherwise disposed of after the Effective date and on or prior to such transaction date shall be responsible for less than 40% of the consolidated net sales or net income of the Borrower and its Subsidiaries for the fiscal year immediately preceding the date of such transaction, and if immediately after any such transaction, no Default shall exist or shall have occurred and be continuing.

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