Common use of Voluntary Early Terminations Clause in Contracts

Voluntary Early Terminations. If under any Lease the Lessee exercises its option to terminate such Lease prior to its Scheduled Lease End Date, the Servicer shall, on behalf of ACOLT, give instructions to VAULT to convey title to the related Leased Vehicle to the Person purchasing the related Leased Vehicle. If neither the Lessee nor the Dealer purchases the related Leased Vehicle, the Servicer shall, as soon as reasonably practicable, consign such Leased Vehicle to a motor vehicle wholesale or retail dealer for resale, sell such Leased Vehicle at a private or public sale or take other commercially reasonable actions in order to dispose of such Leased Vehicle. In connection with the sale of any Leased Vehicle in accordance with this Section 2.04, the Servicer shall, on behalf of ACOLT, give instructions to VAULT to convey title to such Leased Vehicle to the purchaser thereof.

Voluntary Early Terminations. If under any Lease the Lessee exercises its option to terminate such Lease prior to its Scheduled Lease End Date, the Servicer shall, on behalf of ACOLTAFLT, give instructions to VAULT to convey title to the related Leased Vehicle to the Person purchasing the related Leased Vehicle. If neither the Lessee nor the Dealer purchases the related Leased Vehicle, the Servicer shall, as soon as reasonably practicable, consign such Leased Vehicle to a motor vehicle wholesale or retail dealer for resale, sell such Leased Vehicle at a private or public sale or take other commercially reasonable actions in order to dispose of such Leased Vehicle. In connection with the sale of any Leased Vehicle in accordance with this Section 2.04, the Servicer shall, on behalf of ACOLTAFLT, give instructions to VAULT to convey title to such Leased Vehicle to the purchaser thereof.

Voluntary Early Terminations. If under any Lease the Lessee exercises its option to terminate such Lease prior to its Scheduled Lease End Date, the Servicer shall, on behalf of ACOLTABLT, give instructions to VAULT to convey title to the related Leased Vehicle to the Person purchasing the related Leased Vehicle. If neither the Lessee nor the Dealer purchases the related Leased Vehicle, the Servicer shall, as soon as reasonably practicable, consign such Leased Vehicle to a motor vehicle wholesale or retail dealer for resale, sell such Leased Vehicle at a private or public sale or take other commercially reasonable actions in order to dispose of such Leased Vehicle. In connection with the sale of any Leased Vehicle in accordance with this Section 2.04, the Servicer shall, on behalf of ACOLTABLT, give instructions to VAULT to convey title to such Leased Vehicle to the purchaser thereof.