Exchanged Vehicle definition
Exchanged Vehicle means, a Group II Exchanged Vehicle, a Group III Exchanged Vehicle, a Group IV Exchanged Vehicle and, with respect to any other Group, a Vehicle designated by the Master Servicer as being in such Group and that is transferred to the Qualified Intermediary in accordance with the “safe harbor” provisions of Treasury Regulation § 1.1031(k)-1(g)(4) and pursuant to the procedures set forth in the Exchange Agreement.
Exchanged Vehicle means a Designated Vehicle that (a) (i) if subject to a Repurchase Program, has been accepted for repurchase by the Manufacturer under the related Repurchase Program, or (ii) if not subject to a Repurchase Program, has been sold to a third party, (b) (i) with respect to which NFLP or National has received or concurrently receives delivery of one or more Replacement Vehicles with an aggregate Net Book Value equal to or greater than the Termination Value of such Designated Vehicles or (ii) with respect to which the release of the Lien of the Master Collateral Agent thereon would not cause an Asset Amount Deficiency to exist and (c) with respect to which the Lien of the Master Collateral Agent has been released in accordance with Section 2.7 of the Master Collateral Agency Agreement.
Exchanged Vehicle means a Designated Vehicle that (a) (i) if subject to a Manufacturer Program, has been accepted for repurchase by the Manufacturer under the related Repurchase Program, or (ii) if not subject to a Repurchase Program, has been sold to a third party, (b) (i) with respect to which any Leasing Company or Lessee has received or concurrently receives delivery of one or more Replacement Vehicles with an aggregate Net Book Value equal to or greater than the Termination Value of such Designated Vehicles or (ii) with respect to which the release of the Lien of the Master Collateral Agent thereon would not cause a Leasing Company Amortization Event or a Potential Leasing Company Amortization Event with respect to any series of Leasing Company Notes or an Amortization Event or Potential Amortization Event with respect to any Series of Notes to exist and (c) with respect to which the Lien of the Master Collateral Agent has been released in accordance with the Master Collateral Agency Agreement.
Examples of Exchanged Vehicle in a sentence
RCFC shall provide written instruction to the Trustee and Master Collateral Agent upon tender of a Group II Exchanged Vehicle to a Qualified Intermediary with respect to the designations, substitutions and transfers set forth in this Section.
RCFC shall provide written instruction to the Trustee and Master Collateral Agent upon tender of a Group III Exchanged Vehicle to a Qualified Intermediary with respect to the designations, substitutions and transfers set forth in this Section.
RCFC shall provide written instruction to the Trustee and Master Collateral Agent upon tender of a Group V Exchanged Vehicle to a Qualified Intermediary with respect to the designations, substitutions and transfers set forth in this Section.
Portions of funds on deposit in the Series 2010-1 Excess Funding Account may, from time to time hereafter, be designated by RCFC as either (i) the Series 2010-1 Cash Liquidity Amount or (ii) all or a portion of the Substitute Group V Exchanged Vehicle Proceeds Amount.
RCFC shall provide written instruction to the Trustee and Master Collateral Agent upon tender of a Group VIII Exchanged Vehicle to a Qualified Intermediary with respect to the designations, substitutions and transfers set forth in this Section.
More Definitions of Exchanged Vehicle
Exchanged Vehicle contained therein to read as follows: ; "provided that until the NFC Agent provides written notice to the contrary to the Master Collateral Agent, no Vehicle that is a Related Vehicle with respect to NFC or the NFC Agent shall be an Exchanged Vehicle."
Exchanged Vehicle means a Designated Vehicle that (i) (a) if subject to a Manufacturer Program, has been accepted for repurchase or auction by the Manufacturer under the related -8- 9 Manufacturer Program or sold to a third party or (b) if not subject to a Manufacturer Program, has been sold to a third party, (ii) (a) with respect to which the applicable Lessor Grantor or the applicable Lessee Grantor has received or concurrently receives delivery of one or more Replacement Vehicles with an aggregate Net Book Value equal to or greater than the Termination Value of such Designated Vehicle or (b) with respect to which the release of the lien of the Master Collateral Agent thereon would not cause an Asset Amount Deficiency to exist or, with respect to any Series of Notes other than the Series 1996-1 Notes, an Amortization Event to occur under such Financing Documents and (iii) with respect to which the Lien of the Master Collateral Agent has been released in accordance with Section 2.7 of this Agreement; provided that until the applicable Trustee provides written notice to the contrary to the Master Collateral Agent, no Vehicle that is a Related Vehicle with respect to such Trustee shall be an Exchanged Vehicle.
Exchanged Vehicle means a Designated Vehicle that (i) (a) if subject to a Manufacturer Program, has been accepted for repurchase or auction by the Manufacturer under the related Manufacturer Program or (b) if not subject to a Manufacturer Program, has been sold to a third party, (ii) (a) with respect to which NFLP or the applicable Lessee Grantor has received or concurrently receives delivery of one or more Replacement Vehicles with an aggregate Net Book Value equal to or greater than the Termination Value of such Designated Vehicle or (b) with respect to which the release of the lien of the Master Collateral Agent thereon would not cause an Asset Amount Deficiency to exist and (iii) with respect to which the Lien of the Master Collateral Agent has been released in accordance with Section 2.7 of this Agreement; provided that until the Trustee provides written notice to the contrary to the Master Collateral Agent, no Vehicle that is a Related Vehicle with respect to the Trustee shall be an Exchanged Vehicle.
Exchanged Vehicle means a Designated Vehicle that (i) (a) if subject to a Manufacturer Program, has been accepted for repurchase or auction by the Manufacturer under the related Manufacturer Program or sold to a third party or (b) if not subject to a Manufacturer Program, has been sold to a third party, (ii) (a) with respect to which the applicable Lessor Grantor or the applicable Lessee Grantor has received or concurrently receives delivery of one or more Replacement Vehicles with an aggregate Net Book Value equal to or greater than the Termination Value of such Designated Vehicle or (b) with respect to which the release of the lien of the Master Collateral Agent thereon would not cause an Asset Amount Deficiency to exist or, with respect to any Series of Notes, an Amortization Event to occur under such Financing Documents and (iii) with respect to which the Lien of the Master Collateral Agent has been released in accordance with Section 2.7 of this Agreement; provided that until the applicable Trustee provides written notice to the contrary to the Master Collateral Agent, no Vehicle that is a Related Vehicle with respect to such Trustee shall be an Exchanged Vehicle.
Exchanged Vehicle. Exchanged Vehicle Insurance Proceeds", "Exchanged Vehicle Repurchase Rights", "Lessee Agreements", "Non-Program Vehicle", "Retained Interest", "Retained Interest Amount", "Retained Interestholder", "Replacement Vehicle", "Sublease" and "Sublessee" by adding to the beginning of each such definition, after the word "means", the words ", in the case of any Series of Notes to which such term is applicable,". 20
Exchanged Vehicle means a Designated Vehicle that (i) (a) if subject to a Repurchase Program, has been accepted for repurchase by the Manufacturer under the related Repurchase Program or (b) if not subject to a Repurchase Program, has been sold to a third party, (ii) (a) with respect to which NFLP or National has received or concurrently receives delivery of one or more Replacement Vehicles with an aggregate Net Book Value equal to or greater than the Termination Value of such Designated Vehicle or (b) with respect to which the release of the lien of the Master Collateral Agent thereon would not cause an Asset Amount Deficiency to exist and (iii) with respect to which the Lien of the Master Collateral Agent has been released in accordance with Section 2.7 of this Agreement; provided that until the NFC Agent provides written notice to the contrary to the Master Collateral Agent, no Vehicle that is a Related Vehicle with respect to NFC shall be an Exchanged Vehicle.
Exchanged Vehicle means a Designated Vehicle that (a) (i) if subject to a Manufacturer Program, has been accepted for repurchase by the Manufacturer under the related Repurchase Program, or (ii) if not subject to a Repurchase Program, has been sold to a third party, (b) (i) with respect to which NFLP or any Lessee has received or concurrently receives delivery of one or more Replacement Vehicles with an aggregate Net Book Value equal to or greater than the Termination Value of such Designated Vehicles or (ii) with respect to which the release of the Lien of the Master Collateral Agent thereon would not cause an Amortization Event or Potential Amortization Event with respect to any Series of Group I Notes to exist and (c) with respect to which the Lien of the Master Collateral Agent has been released in accordance with Section 2.7 of the Master Collateral Agency Agreement. 39 "Exchanged Vehicle Repurchase Rights" means, with respect to each Exchanged Vehicle that is a Program Vehicle, all right, title and interest of NFLP or any Lessee in, to and under each Manufacturer Program associated with such Exchanged Vehicle, to the extent such right, title and interest relate to such Exchanged Vehicle, including any amendments thereof and all monies due and to become due in respect of such Exchanged Vehicle under or in connection with such Manufacturer Program, whether payable as Vehicle repurchase prices, auction sales proceeds, fees, expenses, costs, indemnities, insurance recoveries, damages for breach of the Manufacturer Program or otherwise and all rights to compel performance and otherwise exercise remedies thereunder.