BTF Truck definition
Examples of BTF Truck in a sentence
The Lessee and the Lessor agree that the Lessee shall perform, at the Lessee’s own expense, such BTF Truck preparation and conditioning services with respect to BTF Trucks leased by the Lessee hereunder as are customary.
The Lessee will return BTF Trucks to a facility authorized by the manufacturer of such BTF Truck or the Lessee’s warranty station authorized by the manufacturer of such BTF Truck for warranty work.
If the proceeds of the sale of any such BTF Vehicle are less than the applicable Vehicle Purchase Price for such improperly titled BTF Truck, then the Lessee shall pay to BTF an amount equal to such deficiency; provided that if the Lessee purchases any such BTF Truck, it shall pay to the Lessor the applicable Vehicle Purchase Price therefor.
The Lessee agrees to comply with all requirements of law with respect to BTF Trucks in connection with the transfer of ownership by the Lessor of any BTF Truck, including, without limitation, the submission of any required odometer disclosure statement at the time of any such transfer of ownership.
Dispose of the BTF Trucks leased by the Lessee in accordance with Section 2.6(a) (unless the Lessee purchases such BTF Truck in accordance with the terms of Section 2.5.
The foregoing indemnity as contained in this Section 16 shall survive the expiration or earlier termination of this Agreement or any lease of any BTF Truck hereunder.
If the Lessee fails to perform under the preceding sentence by the close of business on the third Business Day after obtaining such knowledge, then the Lessee shall promptly, but in no event later than three (3) Business Days thereafter, sell or purchase any improperly titled BTF Vehicles (or any such BTF Truck which respect to which the Titling Procedures have not been properly satisfied).
If a BTF Truck is returned to BTF pursuant to Section 2.6(b) of the BTF Lease, BTF will use commercially reasonable efforts to arrange for the prompt sale of such BTF Truck and to maximize the sales price thereof.
In addition, the Administrator shall also be entitled to the reasonable costs and expenses of the Administrator incurred by it as a result of arranging for the sale of any BTF Truck returned by the Lessee thereof to the applicable Lessor and sold to third parties; provided, however, that such costs and expenses shall be payable to the Administrator by such Lessor only to the extent of any excess of the sale price received by such Lessor for any such BTF Truck over the Termination Value thereof.
Notwithstanding the disposition of a BTF Truck by the Lessee prior to the applicable Vehicle Lease Expiration Date, the Lessee shall pay to the Lessor all accrued and unpaid Monthly Base Rent and any Supplemental Rent then due and payable with respect to such BTF Truck through the Distribution Date with respect to the Related Month during which such disposition occurred, unless such BTF Truck is a Casualty, payment for which will be made in accordance with Section 6 hereof.