Swift Leasing definition
Examples of Swift Leasing in a sentence
Central Refrigerated Transportation, LLC 100% 100% 100% Interstate Equipment Leasing, LLC N/A N/A Swift Transportation Co. of Arizona, LLC M.S. Carriers, LLC Swift Intermodal, LLC ▇▇▇▇▇▇▇▇ Distributing, LLC Swift Transportation Co. of Virginia, LLC Common Market Equipment Co., LLC Swift Leasing Co., LLC Swift Logistics, LLC Mohave Transportation Insurance Company Swift Academy LLC Red Rock Risk Retention Group, Inc.
The Gross Rolling Stock Value which shall be utilized to determine the adjusted purchase price and the adjusted lease payment shall be reduced by monthly depreciation of $850 per tractor and $100 per trailer, calculated on a per diem basis, for each day that possession of any such item of Rolling Stock is transferred to Swift Leasing or Swift after December 31, 1996 (the "Depreciation Deduction").
Swift Leasing shall have paid the Purchase Price by wire transfer of funds to each Owner or executed the appropriate Lease with an Owner with respect to the Rolling Stock to be acquired pursuant to this Agreement.
Furthermore, each Owner shall be required to fully cooperate with Swift Leasing in connection with Swift Leasing's claim against any insurer to collect such Insurance Proceeds.
To the extent that the State of Arizona or any local taxing authority within the State of Arizona (an "Arizona Taxing Authority") attempts to impose such a tax, Swift Leasing shall be responsible for the payment of any such tax and any Owner receiving a notice from an Arizona Taxing Authority attempting to impose such a tax shall immediately forward same to Swift Leasing which shall either pay such tax or timely protest the imposition of such tax.
In the event of a Lease, Swift Leasing shall determine the credit, if any, due to Owner and provide Owner of an accounting of such credit, together with the amount of the Damage Deduction utilized for repairs or otherwise taken as a deduction, with such accounting to be given to the Owner within ten business days after Swift Leasing has completed its final inspection, repairs or estimate of repairs with respect to such Owner's Fleet.
All funds due to the Owners at Closing shall be paid by wire transfer of funds pursuant to wire transfer instructions provided to Swift Leasing prior to Closing.
Swift Leasing shall have performed and complied with all agreements and conditions required hereunder to be performed or complied with by Swift Leasing prior to or at the Closing.
Each Owner shall be liable to Swift Leasing for only those representations, warranties, covenants and agreements that relate to such Owner and its Rolling Stock.
As to any Rolling Stock which is in transit and is being utilized to deliver a load picked up by the Debtor prior to 11:59 p.m. M.S.T. pm on the day preceding the Closing which load is not delivered until after the Closing, the Owner of any such Rolling Stock, and not Swift Leasing, shall bear the risk of loss with respect to such Rolling Stock until the load is delivered, after which time the risk of loss shall shift to Swift Leasing.