Common use of Vehicle Use Clause in Contracts

Vehicle Use. So long as no Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III Series Supplement) has occurred, the Lessees may use Vehicles leased hereunder in the regular course of their respective businesses, including subleasing such Vehicles to Eligible Franchisees pursuant to Lessee Agreements, including Subleases, used in the ordinary course of Lessees’ businesses. Notwithstanding any such Lessee Agreement, the applicable Lessee shall remain fully liable for its obligations under this Lease and the other Related Documents (including any obligation hereunder or thereunder that it may cause any Franchisee to perform or fulfill). Each Lessee shall cause all payments under the Lessee Agreements, to the extent such payments relate to vehicles comprising the Master Collateral, to be deposited directly into the Master Collateral Account, and upon the occurrence and during the continuance of a Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III Series Supplement), the Master Servicer shall promptly specify to the Master Collateral Agent the allocation of such payments among Financing Sources. Vehicle use shall be confined primarily to the United States, with limited use outside the United States; provided, however, that the principal place of business or rental office of the Eligible Franchisee with respect to any Vehicles used outside the United States shall be located in the United States. Each Lessee shall promptly and duly execute, deliver, file and record all such documents, statements, filings and registrations, and take such further actions as the Lessor, the Master Collateral Agent, the Master Servicer or the Trustee shall from time to time reasonably request in order to establish, perfect and maintain the Lessor’s title to and interest in the Acquired Vehicles and the related Certificates of Title as against such Lessee or any third party in any applicable jurisdiction and to establish, perfect and maintain the Master Collateral Agent’s Lien on the Vehicles and the related Certificates of Title as a perfected lien in any applicable jurisdiction. Each Lessee may, at such Lessee’s sole expense, change the place of principal location of any Vehicles. After any such change of location, the applicable Lessee shall take all actions necessary (i) to maintain the Lien of the Master Collateral Agent on such Vehicles and the Certificates of Title with respect to such Vehicles, and (ii) to meet or obtain all material legal requirements applicable to such Vehicles. Following a Lease Event of Default or Manufacturer Event of Default, and upon the Lessor’s request, each Lessee shall advise the Lessor in writing where all Vehicles leased by such Lessee hereunder as of such date are principally located. The Lessees shall not knowingly use any Vehicles, or knowingly permit the same to be used, for any unlawful purpose. The Lessees shall and shall require the related Franchisees to use reasonable precautions to prevent loss or damage to Vehicles. The Lessees shall or shall cause the related Franchisees to comply with all applicable statutes, decrees, ordinances and regulations regarding acquiring, titling, registering, leasing, insuring and disposing of Vehicles and shall or shall require such related Franchisees to take reasonable steps to ensure that operators are licensed. The Lessees shall or shall cause the related Franchisees to perform, at its or their own expense, such vehicle preparation and conditioning services with respect to Vehicles as are customary. The Lessor, the Master Collateral Agent or the Trustee or any authorized representative of the Lessor, the Master Collateral Agent or the Trustee may during reasonable business hours from time to time, without disruption of the applicable Lessee’s or the related Franchisee’s business, subject to applicable law, inspect Vehicles and registration certificates, Certificates of Title and related documents covering Vehicles wherever the same be located.

Appears in 1 contract

Samples: Master Motor Vehicle Lease (Dollar Thrifty Automotive Group Inc)

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Vehicle Use. So long as no Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III Series Supplement) has occurred, the Lessees may use Vehicles leased hereunder in the regular course of their respective businesses, including (subject to Section 25.6 hereof) subleasing such Vehicles to Eligible Franchisees pursuant to Lessee Agreements, including Subleases, used in the ordinary course of Lessees’ businesses. Notwithstanding any such Lessee Agreement, the applicable Lessee shall remain fully liable for its obligations under this Lease and the other Related Documents with respect to the Group VI Series of Notes (including any obligation hereunder or thereunder that it may cause any Franchisee to perform or fulfill). Each Lessee shall cause all payments under the Lessee Agreements, to the extent such payments relate to vehicles comprising the Master Collateral, to be deposited directly into the Master Collateral Account, and upon the occurrence and during the continuance of a Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III VI Series Supplement), the Master Servicer shall promptly specify to the Master Collateral Agent the allocation of such payments among Financing Sources. Vehicle use shall be confined primarily to the United States, with limited use outside the United States; provided, however, that the principal place of business or rental office of the Eligible Franchisee with respect to any Vehicles used outside the United States shall be located in the United States. Each Lessee shall promptly and duly execute, deliver, file and record all such documents, statements, filings and registrations, and take such further actions as the Lessor, the Master Collateral Agent, the Master Servicer or the Trustee shall from time to time reasonably request in order to establish, perfect and maintain the Lessor’s title to and interest in the Acquired Vehicles and the related Certificates of Title as against such Lessee or any third party in any applicable jurisdiction and to establish, perfect and maintain the Master Collateral Agent’s Lien on the Vehicles and the related Certificates of Title as a perfected lien in any applicable jurisdiction. Each Lessee may, at such Lessee’s sole expense, change the place of principal location of any Vehicles. After any such change of location, the applicable Lessee shall take all actions necessary (i) to maintain the Lien of the Master Collateral Agent on such Vehicles and the Certificates of Title with respect to such Vehicles, and (ii) to meet or obtain all material legal requirements applicable to such Vehicles. Following a Lease Event of Default or Manufacturer Event of Default, and upon the Lessor’s request, each Lessee shall advise the Lessor in writing where all Vehicles leased by such Lessee hereunder as of such date are principally located. The Lessees shall not knowingly use any Vehicles, or knowingly permit the same to be used, for any unlawful purpose. The Lessees shall and shall require the related Franchisees to use reasonable precautions to prevent loss or damage to Vehicles. The Lessees shall or shall cause the related Franchisees to comply with all applicable statutes, decrees, ordinances and regulations regarding acquiring, titling, registering, leasing, insuring and disposing of Vehicles and shall or shall require such related Franchisees to take reasonable steps to ensure that operators are licensed. The Lessees shall or shall cause the related Franchisees to perform, at its or their own expense, such vehicle preparation and conditioning services with respect to Vehicles as are customary. The Lessor, the Master Collateral Agent or the Trustee or any authorized representative of the Lessor, the Master Collateral Agent or the Trustee may during reasonable business hours from time to time, without disruption of the applicable Lessee’s or the related Franchisee’s business, subject to applicable law, inspect Vehicles and registration certificates, Certificates of Title and related documents covering Vehicles wherever the same be located.

Appears in 1 contract

Samples: And Servicing Agreement (Dollar Thrifty Automotive Group Inc)

Vehicle Use. So long as no Lease Event of Default, Liquidation Event of Default or Series 1998-1 Limited Liquidation Event of Default (or any similar event under any Group III Series Supplement) has occurred, the Lessees may use Vehicles leased hereunder in the regular course of their respective businesses, including subleasing such Vehicles to Eligible Franchisees pursuant to Lessee Agreements, including Subleases, used in the ordinary course of Lessees' businesses. Notwithstanding any such Lessee Agreement, the applicable Lessee shall remain fully liable for its obligations under this Lease and the other Related Documents (including any obligation hereunder or thereunder that it may cause any Franchisee to perform or fulfill). Each Lessee shall cause all payments under the Lessee Agreements, to the extent such payments relate to vehicles comprising the Master Collateral, to be deposited directly into the Master Collateral Account, and upon the occurrence and during the continuance of a Lease Event of Default, Liquidation Event of Default or Series 1998-1 Limited Liquidation Event of Default (or any similar event under any Group III Series Supplement)Default, the Master Servicer shall promptly specify to the Master Collateral Agent the allocation of such payments among Financing Sources. Vehicle use shall be confined primarily to the United States, with limited use outside the United States; provided, however, that the principal place of business or rental office of the Eligible Franchisee with respect to any Vehicles used outside the United States shall be located in the United States. Each Lessee shall promptly and duly execute, deliver, file and record all such documents, statements, filings and registrations, and take such further actions as the Lessor, the Master Collateral Agent, the Master Servicer or the Trustee shall from time to time reasonably request in order to establish, perfect and maintain the Lessor’s 's title to and interest in the Acquired Vehicles and the related Certificates of Title as against such Lessee or any third party in any applicable jurisdiction and to establish, perfect and maintain the Master Collateral Agent’s 's Lien on the Vehicles and the related Certificates of Title (other than recordation of liens with respect to the Existing Fleet) as a perfected lien in any applicable jurisdiction. Each Lessee may, at such Lessee’s 's sole expense, change the place of principal location of any Vehicles. After any such change of location, the applicable Lessee shall take all actions necessary (i) to maintain the Lien of the Master Collateral Agent on such Vehicles and the Certificates of Title with respect to such VehiclesVehicles (other than recordation of liens with respect to the Existing Fleet), and (ii) to meet or obtain all material legal requirements applicable to such Vehicles. Following a Lease Event of Default or Manufacturer Event of Default, and upon the Lessor’s request, each Lessee shall advise the Lessor in writing where all Vehicles leased by such Lessee hereunder as of such date are principally located. The Lessees shall not knowingly use any Vehicles, or knowingly permit the same to be used, for any unlawful purpose. The Lessees shall and shall require the related Franchisees to use reasonable precautions to prevent loss or damage to Vehicles. The Lessees shall or shall cause the related Franchisees to comply with all applicable statutes, decrees, ordinances and regulations regarding acquiring, titling, registering, leasing, insuring and disposing of Vehicles and shall or shall require such related Franchisees to take reasonable steps to ensure that operators are licensed. The Lessees shall or shall cause the related Franchisees to perform, at its or their own expense, such vehicle preparation and conditioning services with respect to Vehicles as are customary. The Lessor, the Master Collateral Agent or the Trustee or any authorized representative of the Lessor, the Master Collateral Agent or the Trustee may during reasonable business hours from time to time, without disruption of the applicable Lessee’s or the related Franchisee’s business, subject to applicable law, inspect Vehicles and registration certificates, Certificates of Title and related documents covering Vehicles wherever the same be located.or

Appears in 1 contract

Samples: Vehicle Lease and Servicing Agreement (Dollar Thrifty Automotive Group Inc)

Vehicle Use. So long as no Lease Event of DefaultDefault has occurred and so long as no Lessee Partial Wind-Down Event has occurred with respect to the relevant Lessee (subject, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III Series Supplement) has occurredhowever, the Lessees to Section 2.6 hereof), such Lessee may use Vehicles leased hereunder in the regular course of their respective businesses, including subleasing such Vehicles to Eligible Franchisees pursuant to Lessee Agreements, including Subleases, used in the ordinary course of Lessees’ businesses. Notwithstanding any such Lessee Agreement, the applicable Lessee shall remain fully liable for its obligations under this Lease and the other Related Documents (including any obligation hereunder or thereunder that it may cause any Franchisee to perform or fulfill). Each Lessee shall cause all payments under the Lessee Agreements, to the extent such payments relate to vehicles comprising the Master Collateral, to be deposited directly into the Master Collateral Account, and upon the occurrence and during the continuance of a Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III Series Supplement), the Master Servicer shall promptly specify to the Master Collateral Agent the allocation business of such payments among Financing SourcesLessee. Vehicle Such use shall be confined primarily to the United States, with limited use outside the United Statesin Canada and Mexico; provided, however, that the principal place of business or rental office of the Eligible Franchisee such Lessee with respect to any the Vehicles used outside the United States shall be is located in the United States. Each The relevant Lessee shall promptly and duly execute, deliver, file and record all such documents, statements, filings and registrations, and take such further actions as the Lessor, the Master Collateral Agent, the Master Servicer or the Trustee shall from time to time reasonably request in order to establish, perfect and maintain the Lessor’s 's title to and interest in the Acquired Vehicles and the related Certificates of Title as against such Lessee or any third party in any applicable jurisdiction and to establish, perfect and maintain the Master Collateral Agent’s Lien Trustee's lien on the Vehicles and the related Certificates of Title as a perfected first lien in any applicable jurisdiction. Each Lessee may, at such the relevant Lessee’s 's sole expense, change the place of principal location of any Vehicles. After any such Notwithstanding the foregoing, no change of location, the applicable Lessee location shall take be undertaken unless and until (i) all actions necessary (i) to maintain the Lien of the Master Collateral Agent Trustee on such Vehicles and the Certificates of Title with respect to such Vehicles, Vehicles shall have been taken and (ii) to meet or obtain all material legal requirements applicable to such VehiclesVehicles shall have been met or obtained. Following a Lease Event of Default Default, Lessee Partial Wind-Down Event or Manufacturer Event of Default, and upon the Lessor’s 's request, each the relevant Lessee shall advise the Lessor in writing where all Vehicles leased by such Lessee hereunder as of such date are principally located. The Lessees Lessee shall not knowingly use any Vehicles, Vehicles or knowingly permit the same to be used, used for any unlawful purpose. The Lessees Each Lessee shall and shall require the related Franchisees to use reasonable precautions to prevent loss or damage to Vehicles. The Lessees Each Lessee shall or shall cause the related Franchisees to comply with all applicable statutes, decrees, ordinances and regulations regarding acquiring, titling, registering, leasing, insuring and disposing of Vehicles and shall or shall require such related Franchisees to take reasonable steps to ensure that operators are licensed. The Lessees Each Lessee and the Lessor agree that each Lessee shall or shall cause the related Franchisees to perform, at its or their own expense, such vehicle Vehicle preparation and conditioning services with respect to Vehicles purchased by the Lessor from the Manufacturers as are customary. The Lessor, the Master Collateral Agent Lessor or the Trustee or any authorized representative of the Lessor, the Master Collateral Agent Lessor or the Trustee may during reasonable business hours from time to time, without disruption of the applicable each Lessee’s or the related Franchisee’s 's business, subject to applicable law, inspect Vehicles and registration certificates, Certificates of Title and related documents covering Vehicles wherever the same be located. Each Lessee shall not sublease any Vehicles, nor shall such Lessee assign any right or interest herein or in any Vehicles; provided, however, that the foregoing shall not be deemed to prohibit the Lessees from renting Vehicles to third party customers in the ordinary course of their car rental businesses.

Appears in 1 contract

Samples: Master Motor Vehicle Lease Agreement (Team Rental Group Inc)

Vehicle Use. So long as no Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default has occurred and so long as no Lessee Partial Wind-Down Event has occurred with respect to the relevant Lessee (or any similar event under any Group III Series Supplement) has occurredsubject, the Lessees however, to Section 2.6 hereof), such Lessee may use Vehicles leased hereunder in the regular course of their respective businesses, including subleasing such Vehicles to Eligible Franchisees pursuant to Lessee Agreements, including Subleases, used in the ordinary course of Lessees’ businesses. Notwithstanding any such Lessee Agreement, the applicable Lessee shall remain fully liable for its obligations under this Lease and the other Related Documents (including any obligation hereunder or thereunder that it may cause any Franchisee to perform or fulfill). Each Lessee shall cause all payments under the Lessee Agreements, to the extent such payments relate to vehicles comprising the Master Collateral, to be deposited directly into the Master Collateral Account, and upon the occurrence and during the continuance of a Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III Series Supplement), the Master Servicer shall promptly specify to the Master Collateral Agent the allocation business of such payments among Financing SourcesLessee. Vehicle Such use shall be confined primarily to the United States, with limited use outside the United Statesin Canada and Mexico; provided, however, that the principal place of business or rental office of the Eligible Franchisee such Lessee with respect to any the Vehicles used outside the United States shall be is located in the United States. Each The relevant Lessee shall promptly and duly execute, deliver, file and record all such documents, statements, filings and registrations, and take such further actions as the Lessor, the Master Collateral Agent, the Master Servicer or the Trustee shall from time to time reasonably request in order to establish, perfect and maintain the Lessor’s 's title to and interest in the Acquired Vehicles and the related Certificates of Title as against such Lessee or any third party in any applicable jurisdiction and to establish, perfect and maintain the Master Collateral Agent’s Lien Trustee's lien on the Vehicles and the related Certificates of Title as a perfected first lien in any applicable jurisdiction. Each Lessee may, at such the relevant Lessee’s 's sole expense, change the place of principal location of any Vehicles. After any such Notwithstanding the foregoing, no change of location, the applicable Lessee location shall take be undertaken unless and until (i) all actions necessary (i) to maintain the Lien of the Master Collateral Agent Trustee on such Vehicles and the Certificates of Title with respect to such Vehicles, Vehicles shall have been taken and (ii) to meet or obtain all material legal requirements applicable to such VehiclesVehicles shall have been met or obtained. Following a Lease Event of Default or Default, Lessee Partial Wind-Down Event, or, with respect to the Repurchase Vehicles, a Manufacturer Event of Default, and upon the Lessor’s 's request, each the relevant Lessee shall advise the Lessor in writing where all Vehicles leased by such Lessee hereunder as of such date are principally located. The Lessees Lessee shall not knowingly use any Vehicles, Vehicles or knowingly permit the same to be used, used for any unlawful purpose. The Lessees Each Lessee shall and shall require the related Franchisees to use reasonable precautions to prevent loss or damage to Vehicles. The Lessees Each Lessee shall or shall cause the related Franchisees to comply with all applicable statutes, decrees, ordinances and regulations regarding acquiring, titling, registering, leasing, insuring and disposing of Vehicles and shall or shall require such related Franchisees to take reasonable steps to ensure that operators are licensed. The Lessees Each Lessee and the Lessor agree that each Lessee shall or shall cause the related Franchisees to perform, at its or their own expense, such vehicle Vehicle preparation and conditioning services with respect to Vehicles purchased by the Lessor from the Manufacturers as are customary. The Lessor, the Master Collateral Agent Lessor or the Trustee or any authorized representative of the Lessor, the Master Collateral Agent Lessor or the Trustee may during reasonable business hours from time to time, without disruption of the applicable each Lessee’s or the related Franchisee’s 's business, subject to applicable law, inspect Vehicles and registration certificates, Certificates of Title and related documents covering Vehicles wherever the same shall be located. Each Lessee shall not sublease any Vehicles, nor shall such Lessee assign any right or interest herein or in any Vehicles; provided, however, that the foregoing shall not be deemed to prohibit the Lessees from renting Vehicles to third party customers in the ordinary course of their car rental businesses.

Appears in 1 contract

Samples: Vehicle Lease Agreement (Team Rental Group Inc)

Vehicle Use. So long as no Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III Series Supplement) has occurred, the Lessees may use Vehicles leased hereunder in the regular course of their respective businesses, including subleasing such Vehicles to Eligible Franchisees pursuant to Lessee Agreements, including Subleases, used in the ordinary course of Lessees’ businessesLessee's business. Notwithstanding any such Lessee Agreement, the applicable Lessee shall remain fully liable for its obligations under this Lease Agreement and the other Related Documents (including any obligation hereunder or thereunder that it may cause any Franchisee to perform or fulfill). Each Lessee shall cause all payments under the Lessee Agreements, to the extent such payments relate to vehicles comprising the Master Collateral, to be deposited directly into the Master Collateral Account, and upon the occurrence and during the continuance of a Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III Series Supplement)Default, the Master Servicer shall promptly specify to the Master Collateral Agent the allocation of such payments among Financing Sources. Vehicle use shall be confined primarily to the United States, with limited use outside the United States; provided, however, that the principal place of business or rental office of the Eligible Franchisee with respect to any Vehicles used outside the United States shall be located in the United States. Each Lessee shall promptly and duly execute, deliver, file and record all such documents, statements, filings and registrations, and take such further actions as the Lessor, the Master Collateral Agent, the Master Servicer or the Trustee shall from time to time reasonably request in order to establish, perfect and maintain the Lessor’s 's title to and interest in the Acquired Vehicles and the related Certificates of Title as against such Lessee or any third party in any applicable jurisdiction and to establish, perfect and maintain the Master Collateral Agent’s 's Lien on the Vehicles and the related Certificates of Title (other than recordation of liens with respect to the Existing Fleet) as a perfected lien in any applicable jurisdiction. Each Lessee may, at such Lessee’s 's sole expense, change the place of principal location of any Vehicles. After any such change of location, the applicable Lessee shall take all actions necessary (i) to maintain the Lien of the Master Collateral Agent on such Vehicles and the Certificates of Title with respect to such VehiclesVehicles (other than recordation of liens with respect to the Existing Fleet), and (ii) to meet or obtain all material legal requirements applicable to such Vehicles. Following a Lease Event of Default or Manufacturer Event of Default, and upon the Lessor’s 's request, each Lessee shall advise the Lessor in writing where all Vehicles leased by such Lessee hereunder as of such date are principally located. The Lessees shall not knowingly use any Vehicles, or knowingly permit the same to be used, for any unlawful purpose. The Lessees shall and shall require the related Franchisees to use reasonable precautions to prevent loss or damage to Vehicles. The Lessees shall or shall cause the related Franchisees to comply with all applicable statutes, decrees, ordinances and regulations regarding acquiring, titling, registering, leasing, insuring and disposing of Vehicles and shall or shall require such related Franchisees to take reasonable steps to ensure that operators are licensed. The Lessees shall or shall cause the related Franchisees to perform, at its or their own expense, such vehicle preparation and conditioning services with respect to Vehicles as are customary. The Lessor, the Master Collateral Agent or the Trustee or any authorized representative of the Lessor, the Master Collateral Agent or the Trustee may during reasonable business hours from time to time, without disruption of the applicable Lessee’s 's or the related Franchisee’s 's business, subject to applicable law, inspect Vehicles and registration certificates, Certificates of Title and related documents covering Vehicles wherever the same be located.

Appears in 1 contract

Samples: Vehicle Lease and Servicing Agreement (Dollar Thrifty Automotive Group Inc)

Vehicle Use. So long as no Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III Series Supplement) has occurred, the Lessees may The Lessee shall use Vehicles leased hereunder in solely for the regular course of their respective businessesLessee's domestic daily rental car operations; provided that the Lessee may, including subleasing such from time to time, sublease Vehicles to Eligible Franchisees pursuant to Lessee Agreements, including Subleases, used in the ordinary course of Lessees’ businessesthe Lessee's business and such Eligible Franchisees shall rent Vehicles subleased by it to consumers in the ordinary course of such Eligible Franchisee's domestic daily rental car operations (provided further, however, that the aggregate Net Book Value of all Vehicles subject to Subleases on any day shall not exceed an amount equal to (a) 5` of the aggregate Net Book Value of all Vehicles leased under the Lease on such day, or (b) such greater amount as each Rating Agency shall have confirmed in writing will not result in the reduction or withdrawal of the then current rating of any outstanding Series of Notes). Notwithstanding any such Lessee Agreement, the applicable Lessee shall remain fully liable for its obligations under this Lease Agreement and the other Related Documents (including any obligation hereunder or thereunder that it may cause any Eligible Franchisee to perform or fulfill). Each Lessee shall cause all payments under the Lessee Agreements, to the extent such payments relate to vehicles comprising the Master Collateral, to be deposited directly into the Master Collateral Account, and upon the occurrence and during the continuance of a Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III Series Supplement), the Master Servicer shall promptly specify to the Master Collateral Agent the allocation of such payments among Financing Sources. Vehicle use shall be confined primarily to the United States, with limited use outside the United States; provided, however, that the principal place of business or rental office of the Eligible Franchisee with respect to any Vehicles used outside the United States shall be located in the United States. Each The Lessee shall promptly and duly execute, deliver, file and record all such documents, statements, filings and registrations, and take such further actions as the Lessor, the Master Collateral Agent, the Master Servicer or the Trustee shall from time to time reasonably request in order to establish, perfect and maintain the Lessor’s 's title to and interest in the Acquired Vehicles and the related Certificates of Title as against such the Lessee or any third party in any applicable jurisdiction and to establish, perfect and maintain the Master Collateral Agent’s Lien 's lien on the Vehicles and as noted on the related Certificates of Title (other than recordation of the Lien of the Master Collateral Agent on the Certificates of Title for the Initial Vehicles) as a perfected first-priority lien in any applicable jurisdiction. Each The Lessee may, at such the Lessee’s 's sole expense, change the place of principal location of any Vehicles. After Within 60 days after any such change of location, the applicable Lessee shall take all actions necessary (i) to maintain the perfected first-priority Lien of the Master Collateral Agent on such Vehicles and as noted on the Certificates of Title with respect to such Vehicles (other than recordation of the Lien of the Master Collateral Agent on the Certificates of Title for the Initial Vehicles) and the Lessor shall cooperate to the extent required for the Lessee to do so, and (ii) to meet or obtain all material legal requirements applicable to such Vehicles. Following a Lease Event of Default or Manufacturer Event of Default, and upon the Lessor’s 's request, each the Lessee shall advise the Lessor in writing where all Vehicles leased by such Lessee hereunder as of such date are principally located. The Lessees Lessee shall not knowingly use any Vehicles, or knowingly permit the same to be used, for any unlawful purpose. The Lessees Lessee shall and shall require the related Franchisees to use reasonable precautions to prevent loss or damage to Vehicles. The Lessees Lessee shall or shall cause the related Franchisees to comply in all material respects with all applicable statutes, decrees, ordinances and regulations regarding acquiring, titling, registering, leasing, insuring and disposing of Vehicles and shall or and shall require such related the Franchisees to take reasonable steps to ensure that operators are licensed. The Lessees Lessee shall or shall cause the related Franchisees to perform, at its or their own expense, such vehicle preparation and conditioning services with respect to Vehicles as are customary. The Lessor, the Master Collateral Agent or the Trustee or any authorized representative of the Lessor, the Master Collateral Agent or the Trustee may during reasonable business hours from time to time, upon reasonable prior notice, without disruption of the applicable Lessee’s 's or the related Franchisee’s business, Franchisees' business and subject to applicable law, inspect Vehicles and registration certificates, Certificates of Title and related documents covering Vehicles wherever the same be located.

Appears in 1 contract

Samples: Master Motor Vehicle Lease and Servicing Agreement (Republic Industries Inc)

Vehicle Use. So long as no Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III Series Supplement) has occurred, the Lessees may use Vehicles leased hereunder in the regular course of their respective businesses, including (subject to Section 25.6 hereof) subleasing such Vehicles to Eligible Franchisees pursuant to Lessee Agreements, including Subleases, used in the ordinary course of Lessees’ businesses. Notwithstanding any such Lessee Agreement, the applicable Lessee shall remain fully liable for its obligations under this Lease and the other Related Documents with respect to the Group VIII Series of Notes (including any obligation hereunder or thereunder that it may cause any Franchisee to perform or fulfill). Each Lessee shall cause all payments under the Lessee Agreements, to the extent such payments relate to vehicles comprising the Master Collateral, to be deposited directly into the Master Collateral Account, and upon the occurrence and during the continuance of a Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III VIII Series Supplement), the Master Servicer shall promptly specify to the Master Collateral Agent the allocation of such payments among Financing Sources. Vehicle use shall be confined primarily to the United States, with limited use outside the United States; provided, however, that the principal place of business or rental office of the Eligible Franchisee with respect to any Vehicles used outside the United States shall be located in the United States. Each Lessee shall promptly and duly execute, deliver, file and record all such documents, statements, filings and registrations, and take such further actions as the Lessor, the Master Collateral Agent, the Master Servicer or the Trustee shall from time to time reasonably request in order to establish, perfect and maintain the Lessor’s title to and interest in the Acquired Vehicles and the related Certificates of Title as against such Lessee or any third party in any applicable jurisdiction and to establish, perfect and maintain the Master Collateral Agent’s Lien on the Vehicles and the related Certificates of Title as a perfected lien in any applicable jurisdiction. Each Lessee may, at such Lessee’s sole expense, change the place of principal location of any Vehicles. After any such change of location, the applicable Lessee shall take all actions necessary (i) to maintain the Lien of the Master Collateral Agent on such Vehicles and the Certificates of Title with respect to such Vehicles, and (ii) to meet or obtain all material legal requirements applicable to such Vehicles. Following a Lease Event of Default or Manufacturer Event of Default, and upon the Lessor’s request, each Lessee shall advise the Lessor in writing where all Vehicles leased by such Lessee hereunder as of such date are principally located. The Lessees shall not knowingly use any Vehicles, or knowingly permit the same to be used, for any unlawful purpose. The Lessees shall and shall require the related Franchisees to use reasonable precautions to prevent loss or damage to Vehicles. The Lessees shall or shall cause the related Franchisees to comply with all applicable statutes, decrees, ordinances and regulations regarding acquiring, titling, registering, leasing, insuring and disposing of Vehicles and shall or shall require such related Franchisees to take reasonable steps to ensure that operators are licensed. The Lessees shall or shall cause the related Franchisees to perform, at its or their own expense, such vehicle preparation and conditioning services with respect to Vehicles as are customary. The Lessor, the Master Collateral Agent or the Trustee or any authorized representative of the Lessor, the Master Collateral Agent or the Trustee may during reasonable business hours from time to time, without disruption of the applicable Lessee’s or the related Franchisee’s business, subject to applicable law, inspect Vehicles and registration certificates, Certificates of Title and related documents covering Vehicles wherever the same be located.

Appears in 1 contract

Samples: Master Motor Vehicle Lease (Dollar Thrifty Automotive Group Inc)

Vehicle Use. So long as no Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III II Series Supplement) has occurred, the Lessees may use Vehicles leased hereunder in the regular course of their respective businesses, including subleasing such Vehicles to Eligible Franchisees pursuant to Lessee Agreements, including Subleases, used in the ordinary course of Lessees’ businesses. Notwithstanding any such Lessee Agreement, the applicable Lessee shall remain fully liable for its obligations under this Lease and the other Related Documents (including any obligation hereunder or thereunder that it may cause any Franchisee to perform or fulfill). Each Lessee shall cause all payments under the Lessee Agreements, to the extent such payments relate to vehicles comprising the Master Collateral, to be deposited directly into the Master Collateral Account, and upon the occurrence and during the continuance of a Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III II Series Supplement), the Master Servicer shall promptly specify to the Master Collateral Agent the allocation of such payments among Financing Sources. Vehicle use shall be confined primarily to the United States, with limited use outside the United States; provided, however, that the principal place of business or rental office of the Eligible Franchisee with respect to any Vehicles used outside the United States shall be located in the United States. Each Lessee shall promptly and duly execute, deliver, file and record all such documents, statements, filings and registrations, and take such further actions as the Lessor, the Master Collateral Agent, the Master Servicer or the Trustee shall from time to time reasonably request in order to establish, perfect and maintain the Lessor’s title to and interest in the Acquired Vehicles and the related Certificates of Title as against such Lessee or any third party in any applicable jurisdiction and to establish, perfect and maintain the Master Collateral Agent’s Lien on the Vehicles and the related Certificates of Title as a perfected lien in any applicable jurisdiction. Each Lessee may, at such Lessee’s sole expense, change the place of principal location of any Vehicles. After any such change of location, the applicable Lessee shall take all actions necessary (i) to maintain the Lien of the Master Collateral Agent on such Vehicles and the Certificates of Title with respect to such Vehicles, and (ii) to meet or obtain all material legal requirements applicable to such Vehicles. Following a Lease Event of Default or Manufacturer Event of Default, and upon the Lessor’s request, each Lessee shall advise the Lessor in writing where all Vehicles leased by such Lessee hereunder as of such date are principally located. The Lessees shall not knowingly use any Vehicles, or knowingly permit the same to be used, for any unlawful purpose. The Lessees shall and shall require the related Franchisees to use reasonable precautions to prevent loss or damage to Vehicles. The Lessees shall or shall cause the related Franchisees to comply with all applicable statutes, decrees, ordinances and regulations regarding acquiring, titling, registering, leasing, insuring and disposing of Vehicles and shall or shall require such related Franchisees to take reasonable steps to ensure that operators are licensed. The Lessees shall or shall cause the related Franchisees to perform, at its or their own expense, such vehicle preparation and conditioning services with respect to Vehicles as are customary. The Lessor, the Master Collateral Agent or the Trustee or any authorized representative of the Lessor, the Master Collateral Agent or the Trustee may during reasonable business hours from time to time, without disruption of the applicable Lessee’s or the related Franchisee’s business, subject to applicable law, inspect Vehicles and registration certificates, Certificates of Title and related documents covering Vehicles wherever the same be located.

Appears in 1 contract

Samples: Master Motor Vehicle Lease (Dollar Thrifty Automotive Group Inc)

Vehicle Use. So long as no Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III Series Supplement) has occurred, the Lessees Lessee may use Vehicles leased hereunder in the regular course of their respective businessesbusiness of the Lessee, including including, from time to time, subleasing such Vehicles to Eligible Franchisees pursuant to Lessee Agreements, including Subleases, used in the ordinary course of Lessees’ businessesLessee's business. Notwithstanding any such Lessee Agreement, the applicable Lessee shall remain fully liable for its obligations under this Lease Agreement and the other Related Documents (including any obligation hereunder or thereunder that it may cause any Franchisee to perform or fulfill). Each The Lessee shall cause all payments under the Lessee Agreements, to the extent such payments relate to vehicles comprising the Master Collateral, to be deposited directly into the Master Collateral Account, and upon the occurrence and during the continuance of a Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III Series Supplement)Default, the Master Servicer shall promptly specify to the Master Collateral Agent the allocation of such payments among Financing Sources. Vehicle use shall be confined primarily to the United States, with limited use outside the United States; provided, however, that the principal place of business or rental office of the Eligible Franchisee with respect to any Vehicles used outside the United States shall be located in the United States. Each The Lessee shall promptly and duly execute, deliver, file and record all such documents, statements, filings and registrations, and take such further actions as the Lessor, the Master Collateral Agent, the Master Servicer or the Trustee shall from time to time reasonably request in order to establish, perfect and maintain the Lessor’s 's title to and interest in the Acquired Vehicles and the related Certificates of Title as against such the Lessee or any third party in any applicable jurisdiction and to establish, perfect and maintain the Master Collateral Agent’s Lien 's lien on the Vehicles and the related Certificates of Title (other than recordation of liens with respect to the Existing Fleet) as a perfected lien in any applicable jurisdiction. Each The Lessee may, at such the Lessee’s 's sole expense, change the place of principal location of any Vehicles. After any such change of location, the applicable Lessee shall take all actions necessary (i) to maintain the Lien of the Master Collateral Agent on such Vehicles and the Certificates of Title with respect to such VehiclesVehicles (other than recordation of liens with respect to the Existing Fleet), and (ii) to meet or obtain all material legal requirements applicable to such Vehicles. Following a Lease Event of Default or Manufacturer Event of Default, and upon the Lessor’s 's request, each the Lessee shall advise the Lessor in writing where all Vehicles leased by such Lessee hereunder as of such date are principally located. The Lessees Lessee shall not knowingly use any Vehicles, or knowingly permit the same to be used, for any unlawful purpose. The Lessees Lessee shall and shall require the related Franchisees to use reasonable precautions to prevent loss or damage to Vehicles. The Lessees Lessee shall or shall cause the related Franchisees to comply with all applicable statutes, decrees, ordinances and regulations regarding acquiring, titling, registering, leasing, insuring and disposing of Vehicles and shall or shall require such related the Franchisees to take reasonable steps to ensure that operators are licensed. The Lessees Lessee shall or shall cause the related Franchisees to perform, at its or their own expense, such vehicle preparation and conditioning services with respect to Vehicles as are customary. The Lessor, the Master Collateral Agent or the Trustee or any authorized representative of the Lessor, the Master Collateral Agent or the Trustee may during reasonable business hours from time to time, without disruption of the applicable Lessee’s 's or the related Franchisee’s 's business, subject to applicable law, inspect Vehicles and registration certificates, Certificates of Title and related documents covering Vehicles wherever the same be located.

Appears in 1 contract

Samples: Vehicle Lease and Servicing Agreement (Dollar Thrifty Automotive Group Inc)

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Vehicle Use. So long as no Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III IV Series Supplement) has occurred, the Lessees may use Vehicles leased hereunder in the regular course of their respective businesses, including subleasing such Vehicles to Eligible Franchisees pursuant to Lessee Agreements, including Subleases, used in the ordinary course of Lessees’ businesses. Notwithstanding any such Lessee Agreement, the applicable Lessee shall remain fully liable for its obligations under this Lease and the other Related Documents (including any obligation hereunder or thereunder that it may cause any Franchisee to perform or fulfill). Each Lessee shall cause all payments under the Lessee Agreements, to the extent such payments relate to vehicles comprising the Master Collateral, to be deposited directly into the Master Collateral Account, and upon the occurrence and during the continuance of a Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III IV Series Supplement), the Master Servicer shall promptly specify to the Master Collateral Agent the allocation of such payments among Financing Sources. Vehicle use shall be confined primarily to the United States, with limited use outside the United States; provided, however, that the principal place of business or rental office of the Eligible Franchisee with respect to any Vehicles used outside the United States shall be located in the United States. Each Lessee shall promptly and duly execute, deliver, file and record all such documents, statements, filings and registrations, and take such further actions as the Lessor, the Master Collateral Agent, the Master Servicer or the Trustee shall from time to time reasonably request in order to establish, perfect and maintain the Lessor’s title to and interest in the Acquired Vehicles and the related Certificates of Title as against such Lessee or any third party in any applicable jurisdiction and to establish, perfect and maintain the Master Collateral Agent’s Lien on the Vehicles and the related Certificates of Title as a perfected lien in any applicable jurisdiction. Each Lessee may, at such Lessee’s sole expense, change the place of principal location of any Vehicles. After any such change of location, the applicable Lessee shall take all actions necessary (i) to maintain the Lien of the Master Collateral Agent on such Vehicles and the Certificates of Title with respect to such Vehicles, and (ii) to meet or obtain all material legal requirements applicable to such Vehicles. Following a Lease Event of Default or Manufacturer Event of Default, and upon the Lessor’s request, each Lessee shall advise the Lessor in writing where all Vehicles leased by such Lessee hereunder as of such date are principally located. The Lessees shall not knowingly use any Vehicles, or knowingly permit the same to be used, for any unlawful purpose. The Lessees shall and shall require the related Franchisees to use reasonable precautions to prevent loss or damage to Vehicles. The Lessees shall or shall cause the related Franchisees to comply with all applicable statutes, decrees, ordinances and regulations regarding acquiring, titling, registering, leasing, insuring and disposing of Vehicles and shall or shall require such related Franchisees to take reasonable steps to ensure that operators are licensed. The Lessees shall or shall cause the related Franchisees to perform, at its or their own expense, such vehicle preparation and conditioning services with respect to Vehicles as are customary. The Lessor, the Master Collateral Agent or the Trustee or any authorized representative of the Lessor, the Master Collateral Agent or the Trustee may during reasonable business hours from time to time, without disruption of the applicable Lessee’s or the related Franchisee’s business, subject to applicable law, inspect Vehicles and registration certificates, Certificates of Title and related documents covering Vehicles wherever the same be located.

Appears in 1 contract

Samples: Master Motor Vehicle Lease (Dollar Thrifty Automotive Group Inc)

Vehicle Use. So long as no Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Supplement to the Base Indenture relating to a Group III Series Supplementof Notes) has occurred, the Lessees may use Vehicles leased hereunder in the regular course of their respective businesses, including subleasing such Vehicles to Eligible Franchisees pursuant to Lessee Agreements, including Subleases, used in the ordinary course of Lessees' businesses. Notwithstanding any such Lessee Agreement, the applicable Lessee shall remain fully liable for its obligations under this Lease and the other Related Documents (including any obligation hereunder or thereunder that it may cause any Franchisee to perform or fulfill). Each Lessee shall cause all payments under the Lessee Agreements, to the extent such payments relate to vehicles comprising the Master Collateral, to be deposited directly into the Master Collateral Account, and upon the occurrence and during the continuance of a Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default [(or any similar event under any Supplement to the Base Indenture relating to a Group III Series Supplementof Notes)], the Master Servicer shall promptly specify to the Master Collateral Agent the allocation of such payments among Financing Sources. Vehicle use shall be confined primarily to the United States, with limited use outside the United States; provided, however, that the principal place of business or rental office of the Eligible Franchisee with respect to any Vehicles used outside the United States shall be located in the United States. Each Lessee shall promptly and duly execute, deliver, file and record all such documents, statements, filings and registrations, and take such further actions as the Lessor, the Master Collateral Agent, the Master Servicer or the Trustee shall from time to time reasonably request in order to establish, perfect and maintain the Lessor’s 's title to and interest in the Acquired Vehicles and the related Certificates of Title as against such Lessee or any third party in any applicable jurisdiction and to establish, perfect and maintain the Master Collateral Agent’s 's Lien on the Vehicles and the related Certificates of Title as a perfected lien in any applicable jurisdiction. Each Lessee may, at such Lessee’s 's sole expense, change the place of principal location of any Vehicles. After any such change of location, the applicable Lessee shall take all actions necessary (i) to maintain the Lien of the Master Collateral Agent on such Vehicles and the Certificates of Title with respect to such Vehicles, and (ii) to meet or obtain all material legal requirements applicable to such Vehicles. Following a Lease Event of Default or Manufacturer Event of Default, and upon the Lessor’s 's request, each Lessee shall advise the Lessor in writing where all Vehicles leased by such Lessee hereunder as of such date are principally located. The Lessees shall not knowingly use any Vehicles, or knowingly permit the same to be used, for any unlawful purpose. The Lessees shall and shall require the related Franchisees to use reasonable precautions to prevent loss or damage to Vehicles. The Lessees shall or shall cause the related Franchisees to comply with all applicable statutes, decrees, ordinances and regulations regarding acquiring, titling, registering, leasing, insuring and disposing of Vehicles and shall or shall require such related Franchisees to take reasonable steps to ensure that operators are licensed. The Lessees shall or shall cause the related Franchisees to perform, at its or their own expense, such vehicle preparation and conditioning services with respect to Vehicles as are customary. The Lessor, the Master Collateral Agent or the Trustee or any authorized representative of the Lessor, the Master Collateral Agent or the Trustee may during reasonable business hours from time to time, without disruption of the applicable Lessee’s 's or the related Franchisee’s 's business, subject to applicable law, inspect Vehicles and registration certificates, Certificates of Title and related documents covering Vehicles wherever the same be located.

Appears in 1 contract

Samples: Vehicle Lease and Servicing Agreement (Dollar Thrifty Automotive Group Inc)

Vehicle Use. So long as no Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III Series Supplement) has occurred, the Lessees may use Vehicles leased hereunder in the regular course of their respective businesses, including subleasing such Vehicles to Eligible Franchisees pursuant to Lessee Agreements, including Subleases, used in the ordinary course of Lessees’ businesses. Notwithstanding any such Lessee Agreement, the applicable Lessee shall remain fully liable for its obligations under this Lease and the other Related Documents with respect to the Group V Series of Notes (including any obligation hereunder or thereunder that it may cause any Franchisee to perform or fulfill). Each Lessee shall cause all payments under the Lessee Agreements, to the extent such payments relate to vehicles comprising the Master Collateral, to be deposited directly into the Master Collateral Account, and upon the occurrence and during the continuance of a Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III V Series Supplement), the Master Servicer shall promptly specify to the Master Collateral Agent the allocation of such payments among Financing Sources. Vehicle use shall be confined primarily to the United States, with limited use outside the United States; provided, however, that the principal place of business or rental office of the Eligible Franchisee with respect to any Vehicles used outside the United States shall be located in the United States. Each Lessee shall promptly and duly execute, deliver, file and record all such documents, statements, filings and registrations, and take such further actions as the Lessor, the Master Collateral Agent, the Master Servicer or the Trustee shall from time to time reasonably request in order to establish, perfect and maintain the Lessor’s title to and interest in the Acquired Vehicles and the related Certificates of Title as against such Lessee or any third party in any applicable jurisdiction and to establish, perfect and maintain the Master Collateral Agent’s Lien on the Vehicles and the related Certificates of Title as a perfected lien in any applicable jurisdiction. Each Lessee may, at such Lessee’s sole expense, change the place of principal location of any Vehicles. After any such change of location, the applicable Lessee shall take all actions necessary (i) to maintain the Lien of the Master Collateral Agent on such Vehicles and the Certificates of Title with respect to such Vehicles, and (ii) to meet or obtain all material legal requirements applicable to such Vehicles. Following a Lease Event of Default or Manufacturer Event of Default, and upon the Lessor’s request, each Lessee shall advise the Lessor in writing where all Vehicles leased by such Lessee hereunder as of such date are principally located. The Lessees shall not knowingly use any Vehicles, or knowingly permit the same to be used, for any unlawful purpose. The Lessees shall and shall require the related Franchisees to use reasonable precautions to prevent loss or damage to Vehicles. The Lessees shall or shall cause the related Franchisees to comply with all applicable statutes, decrees, ordinances and regulations regarding acquiring, titling, registering, leasing, insuring and disposing of Vehicles and shall or shall require such related Franchisees to take reasonable steps to ensure that operators are licensed. The Lessees shall or shall cause the related Franchisees to perform, at its or their own expense, such vehicle preparation and conditioning services with respect to Vehicles as are customary. The Lessor, the Master Collateral Agent or the Trustee or any authorized representative of the Lessor, the Master Collateral Agent or the Trustee may during reasonable business hours from time to time, without disruption of the applicable Lessee’s or the related Franchisee’s business, subject to applicable law, inspect Vehicles and registration certificates, Certificates of Title and related documents covering Vehicles wherever the same be located.

Appears in 1 contract

Samples: And Servicing Agreement (Dollar Thrifty Automotive Group Inc)

Vehicle Use. So long as no Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Supplement to the Base Indenture relating to a Group III IV Series Supplementof Notes) has occurred, the Lessees may use Vehicles leased hereunder in the regular course of their respective businesses, including subleasing such Vehicles to Eligible Franchisees pursuant to Lessee Agreements, including Subleases, used in the ordinary course of Lessees’ businesses. Notwithstanding any such Lessee Agreement, the applicable Lessee shall remain fully liable for its obligations under this Lease and the other Related Documents (including any obligation hereunder or thereunder that it may cause any Franchisee to perform or fulfill). Each Lessee shall cause all payments under the Lessee Agreements, to the extent such payments relate to vehicles comprising the Master Collateral, to be deposited directly into the Master Collateral Account, and upon the occurrence and during the continuance of a Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Supplement to the Base Indenture relating to a Group III IV Series Supplementof Notes), the Master Servicer shall promptly specify to the Master Collateral Agent the allocation of such payments among Financing Sources. Vehicle use shall be confined primarily to the United States, with limited use outside the United States; provided, however, that the principal place of business or rental office of the Eligible Franchisee with respect to any Vehicles used outside the United States shall be located in the United States. Each Lessee shall promptly and duly execute, deliver, file and record all such documents, statements, filings and registrations, and take such further actions as the Lessor, the Master Collateral Agent, the Master Servicer or the Trustee shall from time to time reasonably request in order to establish, perfect and maintain the Lessor’s title to and interest in the Acquired Vehicles and the related Certificates of Title as against such Lessee or any third party in any applicable jurisdiction and to establish, perfect and maintain the Master Collateral Agent’s Lien on the Vehicles and the related Certificates of Title as a perfected lien in any applicable jurisdiction. Each Lessee may, at such Lessee’s sole expense, change the place of principal location of any Vehicles. After any such change of location, the applicable Lessee shall take all actions necessary (i) to maintain the Lien of the Master Collateral Agent on such Vehicles and the Certificates of Title with respect to such Vehicles, and (ii) to meet or obtain all material legal requirements applicable to such Vehicles. Following a Lease Event of Default or Manufacturer Event of Default, and upon the Lessor’s request, each Lessee shall advise the Lessor in writing where all Vehicles leased by such Lessee hereunder as of such date are principally located. The Lessees shall not knowingly use any Vehicles, or knowingly permit the same to be used, for any unlawful purpose. The Lessees shall and shall require the related Franchisees to use reasonable precautions to prevent loss or damage to Vehicles. The Lessees shall or shall cause the related Franchisees to comply with all applicable statutes, decrees, ordinances and regulations regarding acquiring, titling, registering, leasing, insuring and disposing of Vehicles and shall or shall require such related Franchisees to take reasonable steps to ensure that operators are licensed. The Lessees shall or shall cause the related Franchisees to perform, at its or their own expense, such vehicle preparation and conditioning services with respect to Vehicles as are customary. The Lessor, the Master Collateral Agent or the Trustee or any authorized representative of the Lessor, the Master Collateral Agent or the Trustee may during reasonable business hours from time to time, without disruption of the applicable Lessee’s or the related Franchisee’s business, subject to applicable law, inspect Vehicles and registration certificates, Certificates of Title and related documents covering Vehicles wherever the same be located.

Appears in 1 contract

Samples: Master Motor Vehicle Lease and Servicing Agreement (Dollar Thrifty Automotive Group Inc)

Vehicle Use. So long as no Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III Series Supplement) has occurred, the Lessees may use Vehicles leased hereunder in the regular course of their respective businesses, including (subject to Section 25.6 hereof) subleasing such Vehicles to Eligible Franchisees pursuant to Lessee Agreements, including Subleases, used in the ordinary course of Lessees’ businesses. Notwithstanding any such Lessee Agreement, the applicable Lessee shall remain fully liable for its obligations under this Lease and the other Related Documents with respect to the Group VII Series of Notes (including any obligation hereunder or thereunder that it may cause any Franchisee to perform or fulfill). Each Lessee shall cause all payments under the Lessee Agreements, to the extent such payments relate to vehicles comprising the Master Collateral, to be deposited directly into the Master Collateral Account, and upon the occurrence and during the continuance of a Lease Event of Default, Liquidation Event of Default or Limited Liquidation Event of Default (or any similar event under any Group III VII Series Supplement), the Master Servicer shall promptly specify to the Master Collateral Agent the allocation of such payments among Financing Sources. Vehicle use shall be confined primarily to the United States, with limited use outside the United States; provided, however, that the principal place of business or rental office of the Eligible Franchisee with respect to any Vehicles used outside the United States shall be located in the United States. Each Lessee shall promptly and duly execute, deliver, file and record all such documents, statements, filings and registrations, and take such further actions as the Lessor, the Master Collateral Agent, the Master Servicer or the Trustee shall from time to time reasonably request in order to establish, perfect and maintain the Lessor’s title to and interest in the Acquired Vehicles and the related Certificates of Title as against such Lessee or any third party in any applicable jurisdiction and to establish, perfect and maintain the Master Collateral Agent’s Lien on the Vehicles and the related Certificates of Title as a perfected lien in any applicable jurisdiction. Each Lessee may, at such Lessee’s sole expense, change the place of principal location of any Vehicles. After any such change of location, the applicable Lessee shall take all actions necessary (i) to maintain the Lien of the Master Collateral Agent on such Vehicles and the Certificates of Title with respect to such Vehicles, and (ii) to meet or obtain all material legal requirements applicable to such Vehicles. Following a Lease Event of Default or Manufacturer Event of Default, and upon the Lessor’s request, each Lessee shall advise the Lessor in writing where all Vehicles leased by such Lessee hereunder as of such date are principally located. The Lessees shall not knowingly use any Vehicles, or knowingly permit the same to be used, for any unlawful purpose. The Lessees shall and shall require the related Franchisees to use reasonable precautions to prevent loss or damage to Vehicles. The Lessees shall or shall cause the related Franchisees to comply with all applicable statutes, decrees, ordinances and regulations regarding acquiring, titling, registering, leasing, insuring and disposing of Vehicles and shall or shall require such related Franchisees to take reasonable steps to ensure that operators are licensed. The Lessees shall or shall cause the related Franchisees to perform, at its or their own expense, such vehicle preparation and conditioning services with respect to Vehicles as are customary. The Lessor, the Master Collateral Agent or the Trustee or any authorized representative of the Lessor, the Master Collateral Agent or the Trustee may during reasonable business hours from time to time, without disruption of the applicable Lessee’s or the related Franchisee’s business, subject to applicable law, inspect Vehicles and registration certificates, Certificates of Title and related documents covering Vehicles wherever the same be located.

Appears in 1 contract

Samples: And Servicing Agreement (Dollar Thrifty Automotive Group Inc)

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