Common use of Source for Payment; Limited Recourse Clause in Contracts

Source for Payment; Limited Recourse. The 20__-__ Exchange Note will be payable solely from Exchange Note Available Funds, the proceeds of the other Borrower Collateral and any Shared Amounts allocated to the 20__-__ Exchange Note under Section 5.1, in each case, according to the priorities in Section 5.1. For purposes of determining the 20__-__ Collections, the Leases and Leased Vehicles will be deemed to have been allocated to the 20__-__ Reference Pool from and after the related Cutoff Date. Recourse for the 20__-__ Exchange Noteholder will be limited to the 20__-__ Reference Pool.

Appears in 3 contracts

Sources: Exchange Note Supplement (CAB East LLC), Exchange Note Supplement (CAB East LLC), Credit and Security Agreement (CAB East LLC)

Source for Payment; Limited Recourse. The 20__-__ 20 - Exchange Note will be payable solely from Exchange Note Available FundsCollections on the Leases and Leased Vehicles allocated to the 20 - Reference Pool, the proceeds of the other Borrower Collateral and any Shared Amounts allocated to the 20__-__ 20 - Exchange Note under Section 5.1, in each case, according to the priorities in Section 5.1. For purposes of determining the 20__-__ CollectionsCollections that are for the 20 - Reference Pool, the Leases and Leased Vehicles will be deemed to have been allocated to the 20__-__ 20 - Reference Pool from and after the related Cutoff Date. Recourse for the 20__-__ 20 - Exchange Noteholder will be limited to the 20__-__ 20 - Reference Pool.

Appears in 2 contracts

Sources: Credit and Security Agreement (CAB East LLC), Credit and Security Agreement (CAB East LLC)

Source for Payment; Limited Recourse. The 20__-__ 20 - Exchange Note will be payable solely from Exchange Note Available Funds, the proceeds of the other Borrower Collateral and any Shared Amounts allocated to the 20__-__ 20 - Exchange Note under Section 5.1, in each case, according to the priorities in Section 5.1. For purposes of determining the 20__-__ 20 - Collections, the Leases and Leased Vehicles will be deemed to have been allocated to the 20__-__ 20 - Reference Pool from and after the related Cutoff Date. Recourse for the 20__-__ 20 - Exchange Noteholder will be limited to the 20__-__ 20 - Reference Pool.

Appears in 1 contract

Sources: Credit and Security Agreement (CAB West LLC)