Common use of Termination; Collateral Clause in Contracts

Termination; Collateral. This Indenture, and any grants, pledges and assignments hereunder, shall become effective concurrently with the issuance of the first Series of Notes and shall terminate when (a) all ARG Obligations shall have been fully paid and satisfied, (b) the obligations of each Enhancement Provider under any Enhancement and related documents have terminated, and (c) any Enhancement shall have terminated, at which time the Trustee, at the request of ARG and upon receipt of an Officer’s Certificate from ARG to the effect that the conditions in clauses (a), (b) and (c) above have been complied with and upon receipt of a certificate from the Trustee and each Enhancement Provider to the effect that the conditions in clauses (a), (b) and (c) above relating to ARG Obligations to the Noteholders and each Enhancement Provider have been complied with, shall reassign (without recourse upon, or any warranty whatsoever by, the Trustee) and deliver all Collateral and documents then in the custody or possession of the Trustee promptly to ARG. ARG and the Secured Parties hereby agree that, if any funds remain on deposit in the Collection Account after the termination of this Indenture, such amounts shall be released by the Trustee and paid to ARG. ARG and the Group-Specific Secured Parties hereby agree that, if any funds remain on deposit in the related Group-Specific Collection Account after the termination of this Indenture, such amounts shall be released by the Trustee and paid to ARG.

Appears in 2 contracts

Sources: Third Amended and Restated Series 2004 1 Supplement (Vanguard Car Rental Group Inc.), Base Indenture (Vanguard Car Rental Group Inc.)

Termination; Collateral. This Indenture, and any grants, pledges and assignments hereunder, shall become effective concurrently with the issuance of the first Series of Notes and shall terminate when (a) all ARG the Issuer Obligations shall have been fully paid and satisfied, (b) the obligations of each Enhancement Provider under any Enhancement and related documents have terminated, and (c) any Enhancement shall have terminated, at which time the Trustee, at the request of ARG the Issuer and upon receipt of an Officer’s Certificate from ARG the Issuer to the effect that the conditions in clauses (a), (b) and (c) above have been complied with and upon receipt of a certificate from the Trustee and each Enhancement Provider to the effect that the conditions in clauses (a), (b) and (c) above relating to ARG the Issuer Obligations to the Noteholders and each Enhancement Provider have been complied with, shall reassign (without recourse upon, or any warranty whatsoever by, the Trustee) and deliver all Collateral and documents then in the custody or possession of the Trustee promptly to ARGthe Issuer. ARG The Issuer and the Secured Parties hereby agree that, if any funds remain on deposit in the Collection Account after the termination of this Indenture, such amounts shall be released by the Trustee and paid to ARG. ARG and the Group-Specific Secured Parties hereby agree that, if any funds remain on deposit in the related Group-Specific Collection Account after the termination of this Indenture, such amounts shall be released by the Trustee and paid to ARGIssuer.

Appears in 2 contracts

Sources: Base Indenture (Vanguard Car Rental Group Inc.), Base Indenture (Vanguard Car Rental Group Inc.)

Termination; Collateral. This Base Indenture, and any grants, pledges and assignments hereunder, shall become effective concurrently with the issuance of the first Series of Notes and and, subject to Section 3.4, shall terminate when (a) all ARG Issuer Obligations shall have been fully paid and satisfied, (b) the obligations of each Enhancement Provider under any Enhancement and related documents have terminatedterminated and been released, and (c) any Enhancement shall have terminated, at which time the Trustee, at the request of ARG the Issuers and upon receipt of an Officer’s Certificate from ARG each Issuer to the effect that the conditions in clauses (a), (b) and (c) above have been complied with and upon receipt of a certificate from the Trustee and each Enhancement Provider to the effect that the conditions in clauses (a), (b) and (c) above relating to ARG Issuer Obligations to the Noteholders and each Enhancement Provider have been complied with, shall reassign (without recourse upon, or any warranty whatsoever by, the Trustee) and deliver all Collateral and documents then in the custody or possession of the Trustee promptly to ARG. ARG the order of the Issuers; provided, however, that the grants, pledges and assignments so terminated shall continue to be effective or automatically be reinstated, as the Secured Parties hereby agree thatcase may be, if payment of any funds remain on deposit in the Collection Account after the termination of this Indenture, such amounts shall Issuer Obligation is rescinded or otherwise must be released restored or returned by the Trustee and paid to ARG. ARG and or any Noteholder upon the Group-Specific Secured Parties hereby agree thatinsolvency, if bankruptcy, dissolution, liquidation or reorganization of any funds remain on deposit in the related Group-Specific Collection Account after the termination of this IndentureIssuer or any other obligor or otherwise, all as though such amounts shall be released by the Trustee and paid to ARGpayments had not been made.

Appears in 1 contract

Sources: Cargo Van/Pick Up Truck Base Indenture (Amerco /Nv/)

Termination; Collateral. This 2007-1 Base Indenture, and any grants, pledges and assignments hereunder, shall become effective concurrently with the issuance of the first Series of Notes and and, subject to Section 3.4, shall terminate when (a) all ARG Issuer Obligations shall have been fully paid and satisfied, (b) the obligations of each Enhancement Provider under any Enhancement and related documents have terminatedterminated and been released, and (c) any Enhancement shall have terminated, at which time the Trustee, at the request of ARG the Issuers and upon receipt of an Officer’s Certificate from ARG each Issuer to the effect that the conditions in clauses (a), (b) and (c) above have been complied with and upon receipt of a certificate from the Trustee and each Enhancement Provider to the effect that the conditions in clauses (a), (b) and (c) above relating to ARG Issuer Obligations to the Noteholders and each Enhancement Provider have been complied with, shall reassign (without recourse upon, or any warranty whatsoever by, the Trustee) and deliver all Collateral and documents then in the custody or possession of the Trustee promptly to ARG. ARG the order of the Issuers; provided, however, that the grants, pledges and assignments so terminated shall continue to be effective or automatically be reinstated, as the Secured Parties hereby agree thatcase may be, if payment of any funds remain on deposit in the Collection Account after the termination of this Indenture, such amounts shall Issuer Obligation is rescinded or otherwise must be released restored or returned by the Trustee and paid to ARG. ARG and or any Noteholder upon the Group-Specific Secured Parties hereby agree thatinsolvency, if bankruptcy, dissolution, liquidation or reorganization of any funds remain on deposit in the related Group-Specific Collection Account after the termination of this IndentureIssuer or any other obligor or otherwise, all as though such amounts shall be released by the Trustee and paid to ARGpayments had not been made.

Appears in 1 contract

Sources: Indenture Agreement (Amerco /Nv/)

Termination; Collateral. This Base Indenture, and any grants, pledges and assignments hereunder, shall become are effective concurrently with on the issuance of the first Series of Notes date hereof and shall terminate when (a) all ARG RCFC Obligations shall have been fully paid and satisfied, (b) the obligations of each Enhancement Provider under any Enhancement and related documents have terminated, and (c) any Enhancement shall have terminated, at which time the Trustee, at the request of ARG RCFC and upon receipt of an Officer’s Officers’ Certificate from ARG RCFC to the effect that the conditions in clauses (a), (b) and (c) above have been complied with and upon receipt of a certificate from the Trustee and each Enhancement Provider to the effect that the conditions in clauses (a), (b) and (c) above relating to ARG the RCFC Obligations to the Noteholders and each Enhancement Provider have been complied with, shall reassign (without recourse upon, or any warranty whatsoever by, the Trustee) and deliver all Collateral and documents then in the custody or possession of the Trustee promptly to ARGRCFC. ARG RCFC and the Secured Parties Noteholders hereby agree that, if any funds Deposited Funds remain on deposit in the Collection Account after the termination of this Base Indenture, such amounts shall be released by the Trustee and paid to ARG. ARG and the Group-Specific Secured Parties hereby agree that, if any funds remain on deposit in the related Group-Specific Collection Account after the termination of this Indenture, such amounts shall be released by the Trustee and paid to ARGRCFC at its written request.

Appears in 1 contract

Sources: Base Indenture (Dollar Thrifty Automotive Group Inc)

Termination; Collateral. This Base Indenture, and any grants, pledges and assignments hereunder, shall become effective concurrently with the issuance of the first Series of HVIF Notes and shall terminate when (a) no HVIF Notes remain Outstanding, (b) all ARG HVIF Note Obligations due shall have been fully paid and satisfied, (bc) the obligations of each Enhancement Provider under any Enhancement and related documents Related Documents have terminated, and (cd) any Enhancement shall have terminated, at which time the Trustee, at the request of ARG HVIF and upon receipt of an Officer’s Certificate from ARG of HVIF to the effect that the conditions in clauses (a), (b), (c) and (cd) above have been complied with and upon receipt of a certificate from the Trustee and each Enhancement Provider to the effect that the conditions in clauses (a), (b), (c) and (cd) above relating to ARG Obligations to the Noteholders and each Enhancement Provider have been complied with, shall reassign (without recourse upon, or any warranty whatsoever by, the Trustee) and deliver all HVIF Indenture Collateral and documents then in the custody or possession of the Trustee promptly to ARGHVIF. ARG HVIF and the Secured Parties HVIF Noteholders hereby agree that, if any funds remain on deposit in the HVIF Collection Account after the termination on any date on which no Series of this IndentureHVIF Notes is Outstanding or each HVIF Series Supplement related to a Series of HVIF Notes has been terminated, such amounts shall be released by the Trustee following payment in full of any other outstanding HVIF Note Obligation and paid to ARG. ARG and the Group-Specific Secured Parties hereby agree that, if any funds remain on deposit in the related Group-Specific Collection Account after the termination of this Indenture, such amounts shall be released by the Trustee and paid to ARGHVIF.

Appears in 1 contract

Sources: Base Indenture (Hertz Corp)

Termination; Collateral. This Indenture, and any grants, pledges and assignments hereunder, shall become effective concurrently with the issuance of the first Series of Notes and shall terminate when (a) all ARG TFFC Obligations shall have been fully paid and satisfied, (b) the obligations of each Enhancement Provider under any Enhancement and related documents have terminated, and (c) any Enhancement shall have terminated, at which time the Trustee, at the request of ARG TFFC and upon receipt of an Officer’s Officers' Certificate from ARG TFFC to the effect that the conditions in clauses (a), (b) and (c) above have been complied with and upon receipt of a certificate from the Trustee and each Enhancement Provider to the effect that the conditions in clauses (a), (b) and (c) above relating to ARG the TFFC Obligations to the Noteholders and each Enhancement Provider have been complied with, shall reassign (without recourse upon, or any warranty whatsoever by, the Trustee) and deliver all Collateral and documents then in the custody or possession of the Trustee promptly to ARGTFFC. ARG TFFC and the Secured Parties hereby agree that, if any funds Deposited Funds remain on deposit in the Collection Account after the termination of this Indenture, such amounts shall be released by the Trustee and paid to ARG. ARG and the Group-Specific Secured Parties hereby agree that, if any funds remain on deposit in the related Group-Specific Collection Account after the termination of this Indenture, such amounts shall be released by the Trustee and paid to ARGTFFC.

Appears in 1 contract

Sources: Base Indenture (Team Rental Group Inc)

Termination; Collateral. (a) This IndentureAgreement, and any ----------------------- grants, pledges and assignments hereunder, shall become effective concurrently terminate (i) with respect to any Vehicle if such Vehicle is sold, disposed of or becomes a Casualty in accordance with the issuance of Lease and the first Series of Notes (A) Disposition Proceeds or (B) Casualty Payments in each case with respect to such Vehicle is received into the Collateral Account, and shall terminate (ii) in its entirety when (aA) all ARG ▇▇▇▇▇ Obligations shall have been fully paid and satisfied, satisfied and (bB) the obligations Aggregate Liquidity Commitment of each Enhancement Provider the Liquidity Lenders under any Enhancement the Liquidity Agreement and related documents have terminated, and (c) any Enhancement shall have terminated, at which time the TrusteeAgent, at the request of ARG ▇▇▇▇▇ and upon receipt of an Officer’s Certificate a certificate from ARG ▇▇▇▇▇ to the effect that the conditions in clauses (a), (bii)(A) and (cii)(B) above have been complied with and upon receipt of a certificate from the Trustee Liquidity Agent and each Enhancement Provider the Depositary, to the effect that the conditions in clauses (a), ) and (b) and (c) above relating to ARG ▇▇▇▇▇ Obligations to the Noteholders Liquidity Lenders and each Enhancement Provider the Holders of Commercial Paper Notes have been complied with, shall reassign (without recourse upon, or any warranty whatsoever by, the TrusteeAgent) and deliver at ▇▇▇▇▇'▇ and Leasco's expense all Assigned Collateral and Loan Collateral, respectively, and documents then in the custody or possession of the Trustee Agent promptly to ARG. ARG ▇▇▇▇▇ and Leasco, respectively, and execute such documents and instruments as ▇▇▇▇▇ and Leasco, respectively, may reasonably request in connection with such reassignment. (b) ▇▇▇▇▇, Leasco and the Secured Parties hereby agree that, if any funds Deposited Funds remain on deposit in the Collection Collateral Account after the termination of this IndentureAgreement, such amounts shall be released by the Trustee Agent and paid to ARG. ARG ▇▇▇▇▇. (c) The Agent will, at the request of Leasco and upon the Group-Specific Secured Parties hereby agree thatsatisfaction of the condition set forth in clauses (i) and (ii) of paragraph 9.07(a) above, if any funds remain execute a power of attorney appointing Leasco to act as the agent of the Agent in releasing the Lien of the Agent on deposit in the related Group-Specific Collection Account after Vehicles for which the termination Certificate of this Indenture, such amounts Title is to be released pursuant hereto (which power of attorney shall be released by revocable at any time following the Trustee and paid to ARGoccurrence of an Amortization Event or Limited Amortization Event).

Appears in 1 contract

Sources: Collateral Agreement (Ryder TRS Inc)

Termination; Collateral. This Indenture, and any grants, pledges and assignments hereunder, shall become effective concurrently with the issuance of the first Series of Notes and shall terminate when (a) all ARG Thrifty Finance Obligations shall have been fully paid and satisfied, (b) the obligations of each Enhancement Provider under any Enhancement and related documents have terminated, and (c) any Enhancement shall have terminated, at which time the Trustee, at the request of ARG Thrifty Finance and upon receipt of an Officer’s Officers' Certificate from ARG Thrifty Finance to the effect that the conditions in clauses (a), (b) and (c) above have been complied with and upon receipt of a certificate from the Trustee and each Enhancement Provider to the effect that the conditions in clauses (a), (b) and (c) above relating to ARG the Thrifty Finance Obligations to the Noteholders and each Enhancement Provider have been complied with, shall reassign (without recourse upon, or any warranty whatsoever by, the Trustee) and deliver all Collateral and documents then in the custody or possession of the Trustee promptly to ARGThrifty Finance. ARG Thrifty Finance and the Secured Parties Noteholders hereby agree that, if any funds Deposited Funds remain on deposit in the Collection -92- 100 Account after the termination of this Indenture, such amounts shall be released by the Trustee and paid to ARG. ARG and the Group-Specific Secured Parties hereby agree that, if any funds remain on deposit in the related Group-Specific Collection Account after the termination of this Indenture, such amounts shall be released by the Trustee and paid to ARGThrifty Finance at its written request.

Appears in 1 contract

Sources: Base Indenture (Dollar Thrifty Automotive Group Inc)

Termination; Collateral. This Indenture, and any grants, pledges and assignments hereunder, shall become effective concurrently with the issuance of the first Series of Notes and shall terminate when (a) all ARG Obligations shall have been fully paid and satisfied, (b) the obligations of each Enhancement Provider under any Enhancement and related documents have terminated, and (c) any Enhancement shall have terminated, at which time the Trustee, at the request of ARG and upon receipt of an Officer’s 's Certificate from ARG to the effect that the conditions in clauses (a), (b) and (c) above have been complied with and upon receipt of a certificate from the Trustee and each Enhancement Provider to the effect that the conditions in clauses (a), (b) and (c) above relating to ARG Obligations to the Noteholders and each Enhancement Provider have been complied with, shall reassign (without recourse upon, or any warranty whatsoever by, the Trustee) and deliver all Collateral and documents then in the custody or possession of the Trustee promptly to ARG. ARG and the Secured Parties hereby agree that, if any funds remain on deposit in the Collection Account after the termination of this Indenture, such amounts shall be released by the Trustee and paid to ARG. ARG and the Group-Specific Secured Parties hereby agree that, if any funds remain on deposit in the related Group-Specific Collection Account after the termination of this Indenture, such amounts shall be released by the Trustee and paid to ARG.

Appears in 1 contract

Sources: Base Indenture (Autonation Inc /Fl)

Termination; Collateral. This Base Indenture, and any grants, pledges and assignments hereunder, shall become effective concurrently with the issuance of the first Series of Notes and shall terminate when (a) no Notes remain Outstanding, (b) all ARG Note Obligations due shall have been fully paid and satisfied, (bc) the obligations of each Enhancement Provider under any Enhancement and related documents Related Documents have terminated, and (cd) any Enhancement shall have terminated, at which time the Trustee, at the request of ARG HVF III and upon receipt of an Officer’s Certificate from ARG of HVF III to the effect that the conditions in clauses (a), (b), (c) and (cd) above have been complied with and upon receipt of a certificate from the Trustee and each Enhancement Provider to the effect that the conditions in clauses (a), (b), (c) and (cd) above relating to ARG Obligations to the Noteholders and each Enhancement Provider have been complied with, shall reassign (without recourse upon, or any warranty whatsoever by, the Trustee) and deliver all Indenture Collateral and documents then in the custody or possession of the Trustee promptly to ARGHVF III. ARG HVF III and the Secured Parties Noteholders hereby agree that, if any funds remain on deposit in the Collection Account after the termination on any date on which no Series of this IndentureNotes is Outstanding or each Series Supplement related to a Series of Notes has been terminated, such amounts shall be released by the Trustee following payment in full of any other outstanding Note Obligation and paid to ARG. ARG and the Group-Specific Secured Parties hereby agree that, if any funds remain on deposit in the related Group-Specific Collection Account after the termination of this Indenture, such amounts shall be released by the Trustee and paid to ARGHVF III.

Appears in 1 contract

Sources: Base Indenture (Hertz Corp)

Termination; Collateral. This Indenture, and any grants, pledges and assignments hereunder, shall become effective concurrently with the issuance of the first Series of Notes and shall terminate when (a) all ARG CRCF Obligations shall have been fully paid and satisfied, (b) the obligations of each Enhancement Provider under any Enhancement and related documents have terminated, and (c) any Enhancement shall have terminated, at which time the Trustee, at the request of ARG CRCF and upon receipt of an Officer’s Officers’ Certificate from ARG CRCF to the effect that the conditions in clauses (a), (b) and (c) above have been complied with and upon receipt of a certificate from the Trustee and each Enhancement Provider to the effect that the conditions in clauses (a), (b) and (c) above relating to ARG CRCF Obligations to the Noteholders and each Enhancement Provider have been complied with, shall reassign (without recourse upon, or any warranty whatsoever by, the Trustee) and deliver all Collateral and documents then in the custody or possession of the Trustee promptly to ARGCRCF. ARG CRCF and the Secured Parties hereby agree that, if any funds Deposited Funds remain on deposit in the Collection Account after the termination of this Indenture, such amounts shall be released by the Trustee and paid to ARG. ARG and the Group-Specific Secured Parties hereby agree that, if any funds remain on deposit in the related Group-Specific Collection Account after the termination of this Indenture, such amounts shall be released by the Trustee and paid to ARGCRCF.

Appears in 1 contract

Sources: Base Indenture (Cendant Corp)