Common use of Additional Subsidies Clause in Contracts

Additional Subsidies. In the event that the Escrow Funds with respect to HGI are insufficient to pay the Replacement Property Acquisition Cost incurred by HGI, HGI may transfer Additional Subsidies directly to an HGI Exchange Account or a Disbursement Account in an amount sufficient for the QI to acquire the applicable Replacement Property. Any Legal Entity may transfer Additional Subsidies to one of its Exchange Accounts to fund Non-LKE Disbursements; and HGI may transfer Additional Subsidies to any Disbursement Account to fund Non-LKE Disbursements.

Appears in 2 contracts

Samples: Escrow Agreement (Hertz Corp), Escrow Agreement (Hertz Global Holdings Inc)

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Additional Subsidies. In the event that the Escrow Funds with respect to HGI are insufficient to pay the Replacement Property Acquisition Cost incurred by HGI, HGI may transfer Additional Subsidies directly to an HGI Exchange Account or a Disbursement Account in an amount sufficient for the QI to acquire the applicable Replacement Property. Any Legal Entity may transfer Additional Subsidies to one of its Exchange Accounts to fund Non-LKE Disbursements; and HGI may transfer Additional Subsidies to any Disbursement Account to fund Non-LKE Disbursements.Replacement

Appears in 2 contracts

Samples: Escrow Agreement, Escrow Agreement (Hertz Global Holdings Inc)

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