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 (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.
Examples of Exchanged Vehicle in a sentence
NFLP will not create, incur, assume or permit to exist any Lien upon any of its Assets (including the Collateral), other than (i) Liens in favor of the Trustee for the benefit of the Secured Parties, (ii) Liens upon Exchanged Vehicle Repurchase Rights and Exchanged Vehicle Insurance Payments in favor of the Exchange Lender and (iii) Liens created by or permitted under the Related Documents.
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.
Any RCFC Buyer, Dollar Buyer or Thrifty Buyer shall look solely to RCFC, Dollar or Thrifty, respectively, in respect of any breach, claim, demand or complaint made with respect to a RCFC Exchanged Vehicle, Dollar Exchanged Vehicle or Thrifty Exchanged Vehicle or the subject matters thereof.
Any payments from Manufacturers in respect of Exchanged Vehicle Repurchase Rights which payments are received directly by the Lessee will, within two Business Days of receipt, be deposited into the Exchange Account.
On each Reporting Date, the Master Servicer shall instruct the Trustee to withdraw on the next succeeding Payment Date from the Series 1998-1 Accrued Interest Account, after taking into account any funds available therein from the Series 1998-1 Excess Funding Account in excess of the Substitute Group II Exchanged Vehicle Proceeds Amount, if any, and deposit in the Series 1998-1 Distribution Account the amount on deposit therein available for the payment of the Series 0000-0 Xxxxxxxx Xxxxxx.
More Definitions of 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 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.
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 (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.
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 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.