Cancellation of Exchange Notes. In connection with an optional redemption in full of an Exchange Note pursuant to the applicable Servicing Supplement or Exchange Note Supplement, the Servicer (provided, that the Servicer and the Lender are the same entity), by notice to the Borrower, the Lender, the Collateral Agent and the Administrative Agent, may, pursuant to such Servicing Supplement or Exchange Note Supplement, as applicable, request that the Borrower cancel the Exchange Note. Upon such request, the Borrower will, pursuant to this Section 4.7, cancel the Exchange Note and, upon cancellation, if no other Exchange Notes related to such Designated Pool are Outstanding, the applicable Designated Pool will be deemed to no longer exist and the Collateral Lease Agreements and related Collateral Leased Vehicles included in such Designated Pool will be reallocated to the Lending Facility Pool.
Cancellation of Exchange Notes. Any Person that receives an Exchange Note surrendered for payment, registration of transfer or redemption will deliver the Exchange Note to the Administrative Agent and the Administrative Agent will promptly cancel it. If the Servicer and the Lender are the same entity, following an optional redemption of an Exchange Note under the related Servicing Supplement, the Servicer may request that the Borrowers cancel the Exchange Note according to the Servicing Supplement. On request, the Borrowers will cancel the Exchange Note and the Leases and related Leased Vehicles in the related Reference Pool will be reallocated to the Revolving Facility Pool.
Cancellation of Exchange Notes. Following the optional redemption of an Exchange Note pursuant to the related Servicing Supplement, the Borrower shall cancel such Exchange Note and, upon cancellation, if no other Exchange Notes related to such Reference Pool are Outstanding, the applicable Reference Pool will be deemed to no longer exist and the Collateral Leases and related Collateral Vehicles included in such Reference Pool will be reallocated to the Revolving Facility Pool.
Cancellation of Exchange Notes. As soon as practicable following the tendering of Exchange Notes by the holders of such Exchange Notes, the Company shall use its best efforts to cancel, or caused to be cancelled, such Exchange Notes.
Cancellation of Exchange Notes. Pursuant to the Indenture dated as of July 2, 2014, among the Company and the Subsidiary Guarantors party thereto and U.S. Bank National Association, as Trustee (the “Trustee”), relating to the Notes (the “Indenture”), the Holders hereby agree that the aggregate principal amount of and all accrued unpaid interest on the Exchange Notes shall be cancelled on completion of the Exchange. The Holders acknowledge that the cancellation of the Exchange Notes shall have the effects specified in the Indenture. Notwithstanding anything to the contrary contained in the Indenture or otherwise, with respect to the guarantees of the Notes by the subsidiaries of the Company contained in the Indenture, the Company and the Holders hereby agree that each such guarantee issued pursuant to the Indenture, prior to the Exchange, shall be null and void with respect to the Exchange Notes such that, at the time of the Exchange, the Exchange Notes being exchanged shall not be guaranteed securities and shall be solely securities of the Company, cancelled in accordance with the provisions of this Agreement.
Cancellation of Exchange Notes. Seller hereby (i) acknowledges that some or all of the 1.5 Lien Noteholders may be unable to deliver each 1.5 Lien Note to Acquisition Sub prior to the Closing Date and (ii) waives the condition precedent under the Exchange Agreement to deliver each 1.5 Lien Note prior to the Closing Date; provided that any failure to deliver one or more of the 1.5 Lien Notes shall be subject to the terms of the Noteholder representations and warranties, covenants, obligations and other provisions set forth in Exhibit D hereto. Further, Seller hereby covenants that, notwithstanding any failure by the 1.5 Lien Noteholders to deliver all of the 1.5 Lien Notes prior to the Closing Date, upon consummation of the transactions contemplated by the Exchange Agreement, Seller will cancel all Exchange Notes and will treat such Exchange Notes as no longer outstanding for all purposes.”
Cancellation of Exchange Notes. In connection with an optional redemption of an Exchange Note pursuant to the applicable Servicing Supplement, the Servicer (provided that the Servicer and the Lender are the same entity), by notice to the Borrowers, the Lender, the Collateral Agent and the Administrative Agent, may, pursuant to such Servicing Supplement, request that the Borrowers cancel the Exchange Note. Upon such request, the Borrowers will, pursuant to this Section 4.07, cancel the Exchange Note and, upon cancellation, if no other Exchange Notes related to such Reference Pool are Outstanding, the applicable Reference Pool will be deemed to no longer exist and the Collateral Leases and related Collateral Leased Vehicles included in such Reference Pool will be reallocated to the Revolving Facility Pool.
