Eligible Program Vehicle definition

Eligible Program Vehicle means a Program Vehicle that is subject to an Eligible Manufacturer Program on the Vehicle Operating Lease Commencement Date for such Program Vehicle unless it has been redesignated as a Non-Program Vehicle pursuant to Section 2.6 of the HVF Lease; provided, that if any such Vehicle that has been redesignated as a Non-Program Vehicle is subsequently redesignated as a Program Vehicle pursuant to Section 2.6 of the HVF Lease, solely for purposes of determining whether such Vehicle is an Eligible Program Vehicle pursuant to this definition, the Vehicle Operating Lease Commencement Date for any such Vehicle shall be deemed to be the date of any redesignation.
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Eligible Program Vehicle means a Program Vehicle that is subject to an Eligible Manufacturer Program on the Vehicle Operating Lease Commencement Date for such Program Vehicle, unless it is redesignated as a Non-Program Vehicle pursuant to Section 2.6 of the HVF Lease.
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Examples of Eligible Program Vehicle in a sentence

  • No Manufacturer Event of Default has occurred and is continuing with respect to any Manufacturer of an Eligible Program Vehicle.

  • There are no outstanding Manufacturer Events of Default with respect to any Manufacturer of an Eligible Program Vehicle, nor have any events occurred which, with the giving of notice, the passage of time or both, would constitute such a Manufacturer Event of Default.

  • When a sale of such Eligible Program Vehicle is arranged by the Servicer pursuant to this Section 2.5(a), (i) the Servicer shall deliver the Eligible Program Vehicle to the purchaser thereof and (ii) the Servicer shall cause to be deposited into the Collateral Account the funds paid for such Eligible Program Vehicle by the purchaser.

  • Each Eligible Program Vehicle not meeting its Vehicle Turn-In Condition will, unless redesignated as a Non-Program Vehicle pursuant to Section 2.6, be treated as a Casualty.