Common use of Voluntary Early Terminations Clause in Contracts

Voluntary Early Terminations. If under any Series 20 -SN Lease the Lessee exercises its option to terminate such Series 20 -SN Lease prior to its Scheduled Lease End Date, the Servicer shall, on behalf of COLT, give instructions to VAULT to convey title to the related Vehicle to the Person purchasing the related Vehicle. If neither the Lessee nor the Dealer purchases the related Vehicle, the Servicer shall, as soon as reasonably practicable, consign such Vehicle to a motor vehicle wholesale or retail dealer for resale, sell such Vehicle at a private or public sale or take other commercially reasonable actions in order to dispose of such Vehicle. In connection with the sale of any Vehicle in accordance with this Section 2.04, the Servicer shall, on behalf of COLT, give instructions to VAULT to convey title to such Vehicle to the purchaser thereof.

Voluntary Early Terminations. If under any Series 20 -SN 200_-_ Lease the Lessee exercises its option to terminate such Series 20 -SN 200_-_ Lease prior to its Scheduled Lease End Date, the Servicer shall, on behalf of COLT, give instructions to VAULT to convey title to the related Vehicle to the Person purchasing the related Vehicle. If neither the Lessee nor the Dealer purchases the related Vehicle, the Servicer shall, as soon as reasonably practicable, consign such Vehicle vehicle to a motor vehicle wholesale or retail dealer for resale, sell such Vehicle at a private or public sale or take other commercially reasonable actions in order to dispose of such Vehicle. In connection with the sale of any Vehicle in accordance with this Section 2.04, the Servicer shall, on behalf of COLT, give instructions to VAULT to convey title to such Vehicle to the purchaser thereof.

Voluntary Early Terminations. If under any Series 20 -SN 2005-SN1 Lease the Lessee exercises its option to terminate such Series 20 -SN 2005-SN1 Lease prior to its Scheduled Lease End Date, the Servicer shall, on behalf of COLT, give instructions to VAULT to convey title to the related Vehicle to the Person purchasing the related Vehicle. If neither the Lessee nor the Dealer purchases the related Vehicle, the Servicer shall, as soon as reasonably practicable, consign such Vehicle vehicle to a motor vehicle wholesale or retail dealer for resale, sell such Vehicle at a private or public sale or take other commercially reasonable actions in order to dispose of such Vehicle. In connection with the sale of any Vehicle in accordance with this Section 2.04, the Servicer shall, on behalf of COLT, give instructions to VAULT to convey title to such Vehicle to the purchaser thereof.

Voluntary Early Terminations. If under any Series 20 -SN 2007-SN1 Lease the Lessee exercises its option to terminate such Series 20 -SN 2007-SN1 Lease prior to its Scheduled Lease End Date, the Servicer shall, on behalf of COLT, give instructions to VAULT to convey title to the related Vehicle to the Person purchasing the related Vehicle. If neither the Lessee nor the Dealer purchases the related Vehicle, the Servicer shall, as soon as reasonably practicable, consign such Vehicle to a motor vehicle wholesale or retail dealer for resale, sell such Vehicle at a private or public sale or take other commercially reasonable actions in order to dispose of such Vehicle. In connection with the sale of any Vehicle in accordance with this Section 2.04, the Servicer shall, on behalf of COLT, give instructions to VAULT to convey title to such Vehicle to the purchaser thereof.