Common use of Termination; Collateral Clause in Contracts

Termination; Collateral. This Group II Supplement, and any grants, pledges and assignments hereunder, shall become effective concurrently with the issuance of the first Series of Group II Notes and shall terminate when (a) all Group II Note Obligations shall have been fully paid and satisfied, (b) the obligations of each Group II Series Enhancement Provider under any Group II Series Enhancement, Group II Related Documents and each Group II Series Supplement have terminated, and (c) any Group II Series Enhancement shall have terminated, at which time the Trustee, at the request of HVF II and upon receipt of an Officer’s Certificate of HVF II 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 Group II Series Enhancement Provider to the effect that the conditions in clauses (a), (b) and (c) above have been complied with, shall reassign (without recourse upon, or any warranty whatsoever by, the Trustee) and deliver all Group II Indenture Collateral and documents then in the custody or possession of the Trustee promptly to HVF II. HVF II and the Group II Noteholders hereby agree that, if any funds remain on deposit in or credited to the Group II Collection Account on any date on which no Series of Group II Notes is Outstanding or each Group II Series Supplement related to a Series of Group II Notes has been terminated, such amounts shall be released by the Trustee and paid to HVF II.

Appears in 5 contracts

Sources: Second Amended and Restated Series 2013 B Supplement (Hertz Corp), Group Ii Supplement (Hertz Corp), Amended and Restated Group Ii Supplement (Hertz Global Holdings Inc)

Termination; Collateral. This Group II SupplementIndenture, and any grants, pledges and assignments hereunder, shall become effective concurrently with the issuance of the first Series of Group II Notes and shall terminate when (a) all Group AFC-II Note Obligations shall have been fully paid and satisfied, (b) the obligations of each Group II Series Enhancement Provider under any Group II Series Enhancement, Group II Related Documents Enhancement and each Group II Series Supplement related documents have terminated, and (c) any Group II Series Enhancement Enhance- 122 ment shall have terminated, at which time the Trustee, at the request of HVF AFC-II and upon receipt of an Officer’s Officers' Certificate of HVF from AFC-II 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 Group II Series Enhancement Provider to the effect that the conditions in clauses (a), (b) and (c) above relating to AFC-II 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 Group II Indenture Collateral and documents then in the custody or possession of the Trustee promptly to HVF AFC-II. HVF AFC-II and the Group II Noteholders Secured Parties hereby agree that, if any funds Deposited Funds remain on deposit in or credited to the Group II Collection Account on any date on which no Series after the termination of Group II Notes is Outstanding or each Group II Series Supplement related to a Series of Group II Notes has been terminatedthis Indenture, such amounts shall be released by the Trustee and paid to HVF AFC-II.

Appears in 2 contracts

Sources: Base Indenture (Avis Rent a Car Inc), Base Indenture (Avis Rent a Car Inc)

Termination; Collateral. This Group II I Supplement, and any grants, pledges and assignments hereunder, shall become effective concurrently with the issuance of the first Series of Group II I Notes and shall terminate when (a) all Group II I Note Obligations shall have been fully paid and satisfied, (b) the obligations of each Group II I Series Enhancement Provider under any Group II I Series Enhancement, Group II I Related Documents and each Group II I Series Supplement have terminated, and (c) any Group II I Series Enhancement shall have terminated, at which time the Trustee, at the request of HVF II and upon receipt of an Officer’s Certificate of HVF II 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 Group II I Series Enhancement Provider to the effect that the conditions in clauses (a), (b) and (c) above have been complied with, shall reassign (without recourse upon, or any warranty whatsoever by, the Trustee) and deliver all Group II I Indenture Collateral and documents then in the custody or possession of the Trustee promptly to HVF II. HVF II and the Group II I Noteholders hereby agree that, if any funds remain on deposit in or credited to the Group II I Collection Account on any date on which no Series of Group II I Notes is Outstanding or each Group II I Series Supplement related to a Series of Group II I Notes has been terminated, such amounts shall be released by the Trustee and paid to HVF II.

Appears in 2 contracts

Sources: Amended and Restated Group I Supplement (Hertz Corp), Group I Supplement to Base Indenture (Hertz Global Holdings Inc)