Vehicle Leases. The Parties acknowledge and agree that the members of the Partnership Group shall have the right to use any vehicles leased by the General Partner for use in the operation of the Partnership Group’s business.
Vehicle Leases. Prior to or at the Closing, the Shareholder shall (a) purchase the vehicles used by the Company and its Subsidiaries that are leased under that certain Master Lease Agreement, dated as of October 24, 2001, by and between Gelco Corporation (d/b/a GE Capital Fleet Services) and the Shareholder (the “Purchased GE Vehicles”); and (b) contribute the Purchased GE Vehicles to the Company. Prior to the Closing, the Shareholder and the Purchaser shall work together to agree to a mutually acceptable approach that will ensure that the vehicles used by the Company and its Subsidiaries in the Ordinary Course that are leased under that certain Lease and Fleet Management Services Agreement, dated as of December 4, 2008 (the “ARI Vehicle Lease”), by and among ARI Fleet LT, a Delaware business trust, and Automotive Rentals, Inc., a New Jersey corporation (collectively, “ARI”) and the Shareholder may continue to be used by the Company and its Subsidiaries (at the sole expense of the Company or its Subsidiaries, as applicable), in the same manner as prior to the Closing. The Shareholder and the Purchaser shall take all commercially reasonable actions that are necessary to carry out the foregoing, including, if required, and without limitation, amending the ARI Vehicle Lease or obtaining ARI’s consent to such assignment, as applicable, and providing documentation thereof that is reasonably satisfactory to each Party.
Vehicle Leases. The Seller at its own expense shall transfer leases for each vehicle currently used by a Company Subsidiary and not leased directly by such Company Subsidiary to such respective Company Subsidiary. The Buyer shall use its commercially reasonable efforts to obtain all credit approvals that are necessary in connection with the assignment of any vehicle leases. To the extent any such lease cannot be transferred by its terms, the Seller at its own expense shall purchase such vehicle and lease such vehicle to the applicable Company Subsidiary on terms that are identical to the original lease.
Vehicle Leases. At or prior to Closing, (a) Parent and the Purchaser shall (i) cause each Leased Vehicle to be purchased from the respective lessor of such Leased Vehicle by the Purchaser or one of its Affiliates and (ii) cause each such lessor to release the Seller and its Affiliates, in form and substance reasonably satisfactory to the Seller, from all obligations with respect to the Leased Vehicles and (b) the Seller shall cooperate and use reasonable efforts to assist Parent and the Purchaser in purchasing such Leased Vehicles and obtaining such releases from such lessors.
Vehicle Leases. Seller shall negotiate a settlement of the vehicle leases for all vehicles used in the Operations at the Locations and Buyer shall then direct its vehicle leasing company to purchase of all such vehicles, at which xxxx Xxxxxx shall arrange for its leasing company to provide title to such vehicles as directed by Buyer. Buyer shall pay all transfer taxes relating to such transaction. The parties acknowledge that the leased vehicles transactions will not be consummated prior to Closing, and Seller shall make all leased vehicles available for use by Buyer in conducting operations effective on the Closing Date. In the event that the buyout of the leases owned by LeasePlan, Donlen, Fleet Capital, Verizon, GE Capital, Emigrant and All First (with respect to leased vehicles) are not executed at the time of the Closing, Buyer and Seller agree as follows:
Vehicle Leases. All rights under the leasing arrangements for vehicles described in Schedule 2.1(d);
Vehicle Leases. The Vehicle Leases shall have been terminated and the other obligations specified in Section 6.18 shall have been satisfied.
Vehicle Leases. Leases to which any Motor Vehicles are subject, as fully itemized on Schedule 1.1.15. 1.1.16.
Vehicle Leases. The vehicle leases for the automobiles driven by Xxxxxx Xxxxxxx, Xx. and Xxxxx Xxxxxx shall have been transferred and assigned to Xxxxxx Xxxxxxx, Xx. and Xxxxx Xxxxxx, respectively, and the Company shall have no liability with respect to such leases from and after the Effective Date.
Vehicle Leases. SCHEDULE 6.22 sets forth all Vehicle Leases.
