Lease of Vehicles. Lessor hereby leases to Lessee and Lessee hereby leases from Lessor the vehicles (individually, a “Vehicle” and collectively, the “Vehicles”) described in the schedules from time to time delivered by Lessor to Lessee as set forth below (“Schedule(s)”) for the rentals and on the terms set forth in this Agreement and in the applicable Schedule. References to this “Agreement” shall include this Master Equity Lease Agreement and the various Schedules and addenda to this Master Equity Lease Agreement. Lessor will, on or about the date of delivery of each Vehicle to Lessee, send Lessee a Schedule covering the Vehicle, which will include, among other things, a description of the Vehicle, the lease term and the monthly rental and other payments due with respect to the Vehicle. The terms contained in each such Schedule will be binding on Lessee unless Lessee objects in writing to such Schedule within ten (10) days after the date of delivery of the Vehicle covered by such Schedule. Lessor is the sole legal owner of each Vehicle. This Agreement is a lease only and Lessee will have no right, title or interest in or to the Vehicles except for the use of the Vehicles as described in this Agreement. This Agreement shall be treated as a true lease for federal and applicable state income tax purposes with Lessor having all benefits of ownership of the Vehicles. It is understood and agreed that Enterprise Fleet Management, Inc. or an affiliate thereof (together with any subservicer, agent, successor or assign as servicer on behalf of Lessor, “Servicer”) may administer this Agreement on behalf of Lessor and may perform the service functions herein provided to be performed by Lessor.
Lease of Vehicles. SEPTA will supply Paratransit vehicles to Contractor and Contractor will use the Paratransit vehicles to perform the Scope of Services. Contemporaneously with the execution of this document the Parties will execute a Lease Agreement for Paratransit Vehicles that conforms to the copy which is Attachment 8. [The remainder of the page, except for the page number, is intentionally blank.]
Lease of Vehicles. LESSOR hereby agrees to lease to LESSEE and LESSEE hereby agrees to lease from LESSOR the school buses or other motor vehicles and equipment and accessories thereon (herein “Vehicles”) on the terms and conditions provided in this Agreement and the schedule and additional schedules annexed hereto (each a “Schedule” and collectively, the “Schedules”). Each Schedule shall be a separately enforceable Lease, the terms and conditions of which shall be those set forth herein and on each Schedule (each a Lease-Purchase Agreement“Lease” and collectively, the “Leases”).
Lease of Vehicles. Pursuant to the terms and condition of this Agreement, the COUNTY has and will provide to the OPERATOR delivery and use of the vehicles for use by the OPERATOR in providing the services.
Lease of Vehicles. From time to time, subject to the terms and provisions hereof, the Lessor agrees to lease to the Lessee, and the Lessee agrees to lease from the Lessor, New Vehicles identified in New Vehicle Schedules and Transferred Vehicles identified in Transferred Vehicle Schedules, in each case provided to the Lessor by the Servicer from time to time pursuant to Sections 1.04 and 1.06 of the Purchase Agreement. This Agreement, together with the Manufacturer Programs, the New Vehicle Schedules, the Rejected Vehicle Schedules, the Transferred Vehicle Schedules, the Initial Hertz Vehicle Schedules, the Service Vehicle Schedules and any other related documents attached to this Agreement (collectively, the “Supplemental Documents”), will constitute the entire agreement regarding the leasing of Vehicles by the Lessor to the Lessee.
Lease of Vehicles. From time to time, subject to the terms and provisions hereof, Rental ULC agrees to lease to Funding LP and Funding LP agrees to lease from Rental ULC, subject to the terms hereof:
Lease of Vehicles. City as Lessor. City has procured the following Vehicles and leased them to the Current Contractor, who in turn has subleased the Vehicles to van Transportation Service Providers for the terms indicated on Table 1 below. The Lease provisions set forth below shall apply to the Contractor after assumption of all Subleases as required in Section 63.1.
Lease of Vehicles. On each Funding Date, upon execution and delivery of a Funding Date Lease Supplement and the satisfaction of the conditions set forth in Section 3 of the Participation Agreement, the Lessor will lease to the Lessee, and the Lessee will lease from the Lessor, on the terms and subject to the conditions of this Lease, each Funding Date Vehicle specified in such Funding Date Lease Supplement which shall be incorporated herein and made a part hereof, for the period from and including such Funding Date through the Expiration Date in respect of such Funding Date Vehicle. Annexed to such Funding Date Lease Supplement and incorporated therein and made a part thereof shall be (a) a schedule which sets forth for each such Funding Date Vehicle: (i) the Specific Identification thereof; (ii) the Purchase Price therefor; (iii) the Per Diem Rent Factor therefor (if applicable) pertaining to each of the Base Term and the Renewal Term; (iv) the Quarterly Rent Factor therefor pertaining to each of the Base Term and the Renewal Term; and (v) the Scheduled Expiration Date therefor, (b) a schedule of percentages to be used in calculating the Termination Value therefor from time to time pertaining to each of the Base Term and the Renewal Term, and (c) a tax certification in the form of Exhibit A hereto (the “TRAC Certificate”) by which the Lessee (i) certifies under penalty of perjury that it intends that more than 50 percent of the use of the Vehicles leased hereunder will be in a trade or business of the Lessee and (ii) states that it has been advised that it will not be treated as the owner of the Vehicles for federal income tax purposes and by which the Lessor acknowledges that it has no knowledge that the certification given by the Lessee is false. The execution and delivery by the Lessor and the Lessee, respectively, of each Funding Date Lease Supplement shall, without further act, constitute irrevocable acceptance by the Lessee of the delivery of the Vehicles which are the subject thereof for all purposes of this Lease and the other Operative Documents on the terms set forth herein and therein.
Lease of Vehicles. The lease of vehicles acquired with financial assistance authorized for 49 U.S.C. chapter 53 to any third party is contingent upon approval of the Department. It is allowable to lease vehicles to another Community Transportation System providing general public service in the State of North Carolina, upon approval of the Department. It is also allowable for vehicles to be leased to a third party operator or transportation management company that operates the transit service within a county/region under contract to the Grantee, upon approval of the Department. The Grantee agrees to use the vehicle lease agreement provided by the Department when vehicles are leased, even if on a short-term basis, to another Community Transportation System or a management company. The Grantee agrees to obtain written approval from the Department before the lease is executed and forward a copy of the signed, executed lease agreement to the Department. The Grantee, as a Community Transportation System, shall not lease vehicles to human service agencies, county agencies/government, community agencies or school systems. The Grantee agrees not to loan vehicle(s) to other agencies/individuals for short-term use, even during hours that the transportation system is not providing service, as the vehicle(s) will generally be used to provide service that is “closed-door,” i.e., not open to the general public.
Lease of Vehicles. SEPTA will supply 30 foot MiDi low floor buses to Contractor and Contractor will use the 30 foot MiDi low floor buses to perform the Scope of Services – Route Characteristic Summary. Contemporaneously with the execution of this document the Parties will execute a vehicle lease agreement for 30 foot MiDi low floor buses that conforms to the copy which is Attachment 8. These SEPTA supplied vehicles shall be used exclusively for the purpose for transporting passengers on SEPTA Route 204. These vehicles cannot be used for other non- SEPTA related purposes or for replacement parts for other vehicles. The Contractor shall not utilize their own vehicles in revenue service on SEPTA Route 204 without receiving oral and/or written approval from SEPTA’s Project Manager. [The remainder of the page, except for the page number, is intentionally blank.]
