DISPOSITION PROCEDURE. Prior to the end of the Vehicle Term, each Lessee will or will cause the related Franchisee to deliver each Program Vehicle leased hereunder by such Lessee (other than a Casualty) to the nearest related Manufacturer official auction or other facility designated by such Manufacturer at such Lessee’s sole expense and in accordance with the terms of the applicable Vehicle Disposition Program. Any transportation allowance (for delivery costs) and any rebates or credits applicable to the unexpired term of any license plates for a Vehicle shall inure to the benefit of and, upon receipt thereof by the Lessor, the Trustee or the Master Collateral Agent, shall promptly be paid over to the applicable Lessee. Each Lessee will comply with the requirements of law and the requirements of the Vehicle Disposition Programs in connection with, among other things, the delivery of Certificates of Title, documents of transfer signed as necessary, signed Condition Reports, and signed odometer statements for the Program Vehicles.
DISPOSITION PROCEDURE. Each Lessee will comply with the requirements of law and the requirements of the Manufacturer Programs in connection with, among other things, the delivery of Certificates of Title and documents of transfer signed as necessary, signed Condition Reports, and signed odometer statements to be submitted with the Program Vehicles or Non-Program Vehicles returned to a Manufacturer pursuant to Section 2.6(b) and accepted by the Manufacturer or its agent at the time of Program Vehicle or Non-Program Vehicle return.
DISPOSITION PROCEDURE. 12 Section 12.3.
DISPOSITION PROCEDURE. The Lessee shall comply with the requirements of law in connection with, among other things, the delivery of Certificates of Title and documents of transfer signed as necessary, and signed odometer statements to be submitted with the Group I Trucks upon any disposition thereof pursuant to the terms hereof.
DISPOSITION PROCEDURE. (a) PROGRAM VEHICLES. Unless such Group IV Vehicle is redesignated as a Non-Program Vehicle in accordance with SECTION 14 or the Group IV Lessee thereof exercises its option to purchase such Group IV Vehicle as permitted by, and pursuant to the requirements of, this Lease, or such Group IV Vehicle is sold in the ordinary course outside the Manufacturer Program for proceeds that equal or exceed the payment that would be obtained from the Manufacturer under the Manufacturer Program as contemplated by SECTION 27, then prior to the end of the Group IV Vehicle Term, each Group IV Lessee will or will cause the related Fleet Sharing Party to deliver each Program Vehicle leased by it hereunder (other than a Group IV Casualty or a Group IV Vehicle that has ceased to be a Group IV Eligible Vehicle) to the nearest related Manufacturer official auction or other facility designated by such Manufacturer at the Group IV Lessee's sole expense and in accordance with the terms of the applicable Manufacturer Program; PROVIDED, that the timing of such delivery by the Group IV Lessee will be at its option so long as such delivery is made in accordance with SECTION 24.5 hereof. Any transportation allowance (for delivery costs), auction assistance allowance and any other allowances offered under a Manufacturer Program, and any rebates or credits applicable to the unexpired term of any license plates for a Group IV Vehicle shall inure to the benefit of the Group IV Lessee thereof and, to the extent received by the Group IV Lessor, the Trustee or the Master Collateral Agent, shall promptly be paid over to the applicable Group IV Lessee. Each Group IV Lessee will comply with the requirements of law and the requirements of the Manufacturer Programs in connection with, among other things, the delivery of Certificates of Title, documents of transfer signed as necessary, signed Condition Reports, and signed odometer statements for the Group IV Vehicles.
DISPOSITION PROCEDURE. The Servicer will comply with the requirements of law and the requirements of the Manufacturer Programs in connection with, among other things, the delivery of Certificates of Title and documents of transfer signed as necessary, signed Condition Reports, and signed odometer statements to be submitted with the Program Vehicles returned to a Manufacturer pursuant to Section 3.1(b) and accepted by the Manufacturer or its agent at the time of Program Vehicle return.
DISPOSITION PROCEDURE. In connection with the disposition of any ZVF Vehicle, the Servicer will comply with the requirements of law, including, without limitation, the submission of any required odometer disclosure statement at the time of any such transfer of ownership.
DISPOSITION PROCEDURE. 21 Section 12.3. Termination Payments for Group IV Acquired Vehicles.........................22 SECTION 13. Reserved.........................................................................23 SECTION 14. REDESIGNATION OF GROUP IV VEHICLES...............................................23 SECTION 15. GENERAL INDEMNITY AND PAYMENT OF EXPENSES........................................24 Section 15.1. Indemnity and Payment of Expenses by the Group IV Lessees...................24 Section 15.2. Reimbursement Obligation by the Group IV Lessees............................26 Section 15.3. Notice to Group IV Lessee of Claims.........................................26 Section 15.4. Defense of Claims...........................................................26
DISPOSITION PROCEDURE. Each Lessee will comply with the requirements of law and the requirements of the Repurchase Programs in connection with, among other things, the delivery of Certificates of Title and documents of transfer signed as necessary, signed Condition Report, and signed odometer statement to be submitted with the Vehicles and accepted by the Manufacturer or its agent at the time of Vehicle return. If a Vehicle is not returned to the Manufacturer and accepted by the Manufacturer prior to the Maximum Term with respect to such Vehicle, the relevant Lessee shall purchase such Vehicle for the appropriate Vehicle Purchase Price and pay the Lessor such amount within fifteen (15) days after the end of the Maximum Term (together with any Repurchase Price Interest accrued from the last day of the Maximum Term to the date that such payment is received by the Lessor).
DISPOSITION PROCEDURE. A Grantee may sell a vehicle to a third party through a variety of approved processes including:
1. A vehicle may be sold outright to a third party through a variety of approved processes, including advertised sealed bids, auto auction or the average of three (3) competent appraisals.
2. A vehicle may be sold by the Grantee to itself. In this case the implicit price to be paid by the Grantee will be the average wholesale value of the vehicle as specified in the most recent National Automobile Dealers Association (NADA) Official Used Car Guide or The Official Bus Blue Book.
