Car Leases Clause Samples
Car Leases. The car leases associated with the Business at Greenville shall not be assumed by Buyer at the Closing unless Sellers and Buyer agree upon a cash payment to be made to Buyer by Sellers at the Closing to compensate Buyer for the fact that such leases provide for low lease payments in exchange for above market residual car values.
Car Leases. Seller hereby agrees to use commercially reasonable efforts to assign or, at Purchaser’s sole election, novate, the Contracts related to vehicles leased by Seller and used by the Transferred Employees.
Car Leases. Following the Closing Date, Kodak Parties (and their Affiliates, as applicable) agree to purchase from General Motors Fleet and Commercial Operations (i) a minimum of 80 vehicles, in the aggregate, of the vehicles offered to SCC by General Motors Fleet and Commercial Operations pursuant to the 2005 Model Year Competitive Assistance Program for SCC (provided, that all vehicles purchased by KPG LLC and Barbados Co. and their Affiliates in the model year 2005 whether before or after the Closing shall be credited against the obligation contained in this clause (i)) and (ii) a minimum of 80 vehicles, in the aggregate, of the vehicles offered to SCC by General Motors Fleet and Commercial Operations pursuant to the 2006 Model Year Competitive Assistance Program for SCC.
Car Leases. All leases for automobiles in the name of the Company shall be terminated, or transferred to the individuals who use such automobiles as lessees, so that the Company shall have no liability or obligations with respect to the leases as of the Closing. All amounts owing by the Company under such car leases shall be fully prior to the Closing.