Examples of FCTT Agreement in a sentence
Ownership of the FCTT Assets was initially represented by "Exchangeable Beneficial Certificates." Under the FCTT Agreement from time to time the Holders of Exchangeable Beneficial Certificates may direct Comerica to issue to such Holders of the Exchangeable Beneficial Certificates a series of certificates ("Specified Beneficial Certificates") representing a beneficial interest in certain specified Leased Vehicles, Leases and related FCTT Assets (such assets, the "Series Specified Assets").
However, the fact that there may be some additional costs involved in finding and using DBEs is not in itself sufficient reason for a bidder's failure to meet the contract DBE goal, as long as such costs are reasonable.
FCTT was created pursuant to an Amended and Restated Trust Agreement, dated as of January 31, 1994 (as amended and supplemented from time to time, the "FCTT Agreement"), by and among Ford Motor Credit Company ("Ford Credit") and Ford Credit Leasing Company, Inc.
Distributions on this Certificate shall be made as provided in the FCTT Agreement and the Supplement.
For purposes of Section 6.9(c) of the FCTT Agreement, the obligations to pay expenses in connection with the removal of Comerica shall be borne by the Program Lessee.
The Beneficiaries shall be entitled to receive distributions with respect to their ownership interest therein only in accordance with this Agreement and the FCTT Agreement; provided, that if the Holders of any Series or the Holders of Exchangeable Beneficial Certificates direct Comerica to deliver certain FCTT Assets to such Holders pursuant to Section 4.3(d) or (e) of the FCTT Agreement, the Administrative Agent shall assist Comerica in identifying and delivering the applicable FCTT Assets.
Each Beneficiary by accepting a Certificate acknowledges that such Beneficiary's Certificate or Certificates represent a beneficial interest in FCTT only and do not represent interests in or obligations of the Administrative Agent, any Grantor, Comerica or any Affiliate thereof and no recourse may be had against such parties or their assets, except as may be expressly set forth or contemplated in this Agreement, the FCTT Agreement or the Certificates.
Consistent with Section 8.6 of the Series 1996-1 Supplement, Program Lessor and Program Lessee agree that each shall be a "Holder" of the Series 1996-1 Certificates for purposes of Section 4.3(f) of the FCTT Agreement; and further agree that, for so long as the Program Operating Lease is in effect, each shall exercise their joint rights provided for in such Section only with the consent of the other.
For purposes of this Agreement, the "Basic Documents" mean, collectively, the Indenture, the FCTT Agreement, the Administrative Agency Agreement, the Series 1996-1 Supplement, the RCL Trust Agreement, the Asset Contribution Agreement, the Transfer Agreement, the Program Operating Lease, the Lease Trust Agreement and the Lease Trust Paying Agent Agreement.
Lessee agree that each shall be a "Holder" of the Series 1996-1 Certificates for purposes of Section 4.3(f) of the FCTT Agreement; and further agree that, for so long as the Program Operating Lease is in effect, each shall exercise their joint rights provided for in such Section only with the consent of the other.