Common use of Early Termination Payments Clause in Contracts

Early Termination Payments. If a Lessee turns back any Program Vehicle leased by such Lessee hereunder to a Manufac- turer under its Manufacturer Program, upon the receipt of the Repurchase Price of such Vehicle from such Manufacturer or upon the date by which the Repurchase Price would have been paid if not for a Manufacturer Event of Default, the Lessor will charge such Lessee an amount equal to (i) the excess, if any, of (x) the Termination Value of such Vehicle (as of the Turnback Date) over (y) the sum of the Repurchase Price received with respect to such Vehicle or that would have been received but for a Manufacturer Event of Default, as applicable, and any Special Default Payments made by such Lessee in respect of such Vehicle pursuant to Section 13.3, plus (ii) any unpaid Monthly Base Rent for the Minimum Term plus any early turn back charges payable or deductible from the Repurchase Price for Program Vehicles returned before the Minimum Term in accordance with Section 3.1(b) hereof (any such amount is referred to as an "Early Termination Payment"). On each Payment Date, each Lessee shall pay to the Lessor all Early Termination Payments that have accrued during the Related Month. The provisions of this Section 13.4 will survive the expiration or earlier termination of the Term.

Early Termination Payments. If a any Lessee turns back any Program Vehicle leased by such Lessee hereunder to a Manufac- turer Manufacturer under its Manufacturer ProgramProgram (including by the Intermediary pursuant to the Master Exchange Agreement), upon the receipt earlier of (i) the deposit of the Repurchase Price of such Vehicle from such Manufacturer in the Collection Account or upon a Joint Collection Account and (ii) the date by which the such Repurchase Price would have been paid if not for a Manufacturer Event of Default, the Lessor will charge such Lessee an amount equal to (i) the excess, if any, of (x) the Termination Value of such Vehicle (as of the Turnback Date) over (y) the sum of the Repurchase Price received with respect to such Vehicle or that would have been received but for a Manufacturer Event of Default, as applicable, and any Special Default Payments made by such Lessee in respect of such Vehicle pursuant to Section 13.3, plus (ii) any unpaid Monthly Base Rent for the Minimum Term with respect to such Vehicle plus any early turn back charges payable or deductible from the Repurchase Price for Program Vehicles returned before the Minimum Term of such Vehicle in accordance with Section 3.1(b) hereof (any such amount is referred to as an "“Early Termination Payment"”). On each Payment Date, each Lessee shall pay to the Lessor all Early Termination Payments that have accrued with respect to such Lessee during the Related Month. The provisions of this Section 13.4 will survive the expiration or earlier termination of the Term.

Early Termination Payments. If a Lessee turns back With respect to any Program Vehicle leased subleased by such Lessee a Sublessee hereunder that is turned back to a Manufac- turer Manufacturer under its Manufacturer ProgramProgram (including by the Intermediary pursuant to the Master Exchange Agreement), upon the receipt of the Repurchase Price of such Vehicle from such Manufacturer or upon the date by which the Repurchase Price would have been paid if not for a Manufacturer Event of Default, the Lessor Sublessor will charge such Lessee Sublessee an amount equal to (i) the excess, if any, of (x) the Termination Value of such Vehicle (as of the Turnback Date) over (y) the sum of the Repurchase Price received with respect to such Vehicle or that would have been received but for a Manufacturer Event of Default, as applicable, and any Special Default Payments made by such Lessee Sublessee in respect of such Vehicle pursuant to Section SECTION 13.3, plus PLUS (ii) any unpaid Monthly Base Rent allocable to such Sublessee for the Minimum Term plus any early turn back charges payable or deductible from the Repurchase Price for Program Vehicles returned before the Minimum Term in accordance with Section SECTION 3.1(b) hereof (any such amount is referred to as an "Early Termination PaymentEARLY TERMINATION PAYMENT"). On each Payment Date, each Lessee Sublessee shall pay to the Lessor Sublessor all Early Termination Payments that have accrued during the Related Month. The provisions of this Section SECTION 13.4 will survive the expiration or earlier termination of the Term.

Early Termination Payments. If a Lessee turns back With respect to any Program Vehicle leased by such Lessee hereunder that is turned back to a Manufac- turer the Manufacturer under its Manufacturer ProgramProgram (including by the Intermediary pursuant to the Master Exchange Agreement), upon the receipt earlier of (i) the deposit of the Repurchase Price of such Vehicle from such Manufacturer in the Collection Account or upon a Joint Collection Account and (ii) the date by which the such Repurchase Price would have been paid if not for a Manufacturer Event of Default, the Lessor will charge such the Lessee an amount equal to (i) the excess, if any, of (x) the Termination Value of such Vehicle (as of the Turnback Date) over (y) the sum of the Repurchase Price received with respect to such Vehicle or that would have been received but for a Manufacturer Event of Default, as applicable, and any Special Default Payments made by such the Lessee in respect of such Vehicle pursuant to Section 13.3, plus (ii) any unpaid Monthly Base Rent for the Minimum Term with respect to such Vehicle plus any early turn back charges payable or deductible from the Repurchase Price for Program Vehicles returned before the Minimum Term of such Vehicle in accordance with Section 3.1(b) hereof (any such amount is referred to as an "“Early Termination Payment"”). On each Payment Date, each the Lessee shall pay to the Lessor all Early Termination Payments that have accrued during the Related Month. The provisions of this Section 13.4 will survive the expiration or earlier termination of the Term.

Early Termination Payments. If a Lessee turns back With respect to any Program Vehicle leased by such a Lessee hereunder that is turned back to a Manufac- turer Manufacturer under its Manufacturer ProgramProgram (including by the Intermediary pursuant to the Master Exchange Agreement), upon the receipt of the Repurchase Price of such Vehicle from such Manufacturer or upon the date by which the Repurchase Price would have been paid if not for a Manufacturer Event of Default, the Lessor will charge such Lessee an amount equal to (i) the excess, if any, of (x) the Termination Value of such Vehicle (as of the Turnback Date) over (y) the sum of the Repurchase Price received with respect to such Vehicle or that would have been received but for a Manufacturer Event of Default, as applicable, and any Special Default Payments made by such Lessee in respect of such Vehicle pursuant to Section 13.3, plus (ii) any unpaid Monthly Base Rent for the Minimum Term plus any early turn back charges payable or deductible from the Repurchase Price for Program Vehicles returned before the Minimum Term in accordance with Section 3.1(b) hereof (any such amount is referred to as an "Early Termination Payment"). On each Payment Date, each Lessee shall pay to the Lessor all Early Termination Payments that have accrued during the Related Month. The provisions of this Section 13.4 will survive the expiration or earlier termination of the Term.