Effect of Lease Event of Default. If any Lease Event of Default set forth in Sub-Clause 9.1.1, 9.1.2, 9.1.5, 9.1.6 or 9.1.8 (Events of Default) shall occur and be continuing, the Lessee’s right of possession with respect to any Lease Vehicles leased hereunder shall be subject to the Lessor’s option to terminate such right as set forth in Sub-Clause 9.3 (
Effect of Lease Event of Default. If (i) a Lease Event of Default described in Section 17.1.1(i), 17.1.2, 17.1.5 or 17.1.9 of this Lease shall occur, then the Monthly Base Rent, the Monthly Supplemental Payment and Casualty Payments (in each case calculated, with respect to Financed Vehicles, as if all such Financed Vehicles had become a Casualty for the Related Month), the Monthly Variable Rent, the Availability Payment and the Monthly Finance Rent (in each case calculated as if the full amount of interest, principal and other charges under all Outstanding Series of Notes included in the Group VII Series of Notes were then due and payable in full), Termination Payments and Late Return Payments shall, automatically, without further action by the Lessor or the Trustee, become immediately due and payable or (ii) any other Lease Event of Default shall occur, the Lessor or the Trustee may declare the Rent and all other charges and payments (calculated as described in clause (i) above) to be due and payable, whereupon such Rent and such other charges and payments (as so calculated) shall, subject to Section 17.5, become immediately due and payable.
Effect of Lease Event of Default. If (i) a Lease Event of Default described in Section 18.1.1, 18.1.2 or 18.1.6 shall occur, then the Monthly Base Rent (calculated as if all Vehicles had become a Casualty for the Related Month), the Monthly Variable Rent (calculated as if the full amount of interest, principal and other charges under all outstanding Series of Notes were then due and payable in full) and the Monthly Supplemental Rent (calculated as if the full amount of interest, principal and other charges under all outstanding Series of Notes were then due and payable in full) shall, automatically, without further action by the Lessor or the Trustee, become immediately due and payable or (ii) any other Lease Event of Default or any Liquidation Event of Default shall occur, the Lessor or the Trustee may declare the Rent (calculated as described in clause (i) above) to be due and payable, whereupon such Rent (as so calculated) shall, subject to Section 18.5, become immediately due and payable.
Effect of Lease Event of Default. If any Lease Event of Default set forth in Sub-Clause 9.1.1, 9.1.2, 9.1.5, 9.1.6 or 9.1.8 (Events of Default) shall occur and be continuing, the relevent Lessee’s leases with respect to any Lease Vehicles leased hereunder shall be subject to the Lessor’s option to terminate such leases as set forth in Sub- A36887653 WEIL:
Effect of Lease Event of Default. If any Lease Event of Default set forth in Sub-Clause 9.1.1, 9.1.2, 9.1.5, 9.1.6 or 9.1.8 (Events of Default) shall occur and be continuing, the Lessee’s right of possession with respect to any Lease Vehicles leased hereunder shall be subject to the Lessor’s option to terminate such right as set forth in Sub-Clause 9.3 (Rights of Lessor Upon Lease Event of Default) and 9.4 (Liquidation Event and Non-Performance of Certain Covenants).
Effect of Lease Event of Default. (a) If any Lease Event of Default or Liquidation Event of Default shall occur and be continuing, the rights of the Lessee to place Vehicle Orders pursuant to this Agreement (but not otherwise) shall immediately terminate;
(b) If a Lease Event of Default described in Section 17.1.1(i), 17.1.2 or 17.1.5 or a Liquidation Event of Default shall occur, then the Monthly Base Rent, the Monthly Supplemental Payment, Casualty Payments (in each case calculated as if all Vehicles had become a Casualty during the Related Month), the Monthly Variable Rent, the Availability Payment, the Monthly Finance Rent (in each case calculated as if the full amount of interest, principal and other charges under all outstanding Series of Notes were then due and payable in full), Termination Payments and Late Return Payments shall, automatically, without further action by the Lessor or the Trustee, become immediately due and payable;
(c) If a Limited Liquidation Event of Default shall occur, then the Monthly Base Rent, the Monthly Supplemental Payment and Casualty Payments (in each case, calculated as if each Vehicle with respect to which the Lessor has terminated the Lessee's right to possession pursuant to Section 17.3(iii) had become a Casualty during the Related Month) the Monthly Variable Rent, the Availability Payment and the Monthly Finance Rent (in each case, calculated as if the full amount of interest, principal and other charges under the applicable Series of Notes were then due and payable in full), Termination Payments and Late Return Payments (in each case, with respect to each Vehicle with respect to which the Lessor has terminated the Lessee's right to possession pursuant to Section 17.3(iii)) shall automatically, without further action by the Lessor or the Trustee, become immediately due and payable;
(d) If any other Lease Event of Default shall occur, the Lessor or the Trustee may declare the Rent and all other charges and payments (calculated as described in paragraph (b) above) to be due and payable, whereupon such Rent and such other charges and payments (as so calculated) shall, subject to Section 17.4, become immediately due and payable.
Effect of Lease Event of Default. If (i) a Lease Event of Default described in Section 17.1.1(i), 17.1.2 or 17.1.5 shall occur, then the Monthly Base Rent, the Monthly Supplemental Payment and Casualty Payments (in each case calculated as if all Vehicles had become a Casualty for the Related Month), the Monthly Variable Rent, the Availability Payment
Effect of Lease Event of Default. Series 1997-1
Effect of Lease Event of Default. If (i) a Lease Event of Default described in Section 17.1.1, 17.1.2, 17.1.5, 17.1.6 (to the extent that all or a material portion of this Lease shall at any time and for any reason not be in full force and effect or be declared null and void), 17.1.7 or 17.1.8 shall occur, then the Monthly Base Rent, Casualty Payments, the Monthly Supplemental Payments (calculated as if all Financed Vehicles had become a Casualty for the Related Month), the Monthly Variable Rent and Monthly Finance Rent (calculated as if the full amount of interest, principal and other charges under all Outstanding Group IV Series of Notes were then due and payable in full), the Monthly Supplemental Rent (calculated as if the full amount of interest, principal and other charges under all Outstanding Group IV Series of Notes were then due and payable in full) and, with respect to Group IV Non-Repurchase Vehicles and Group IV Type II Repurchase Vehicles, the Additional Base Rent, if any, shall, automatically, without further action by the Lessor or the Trustee, become immediately due and payable or (ii) any other Lease Event of Default or any Limited Liquidation Event of Default, in each case, with respect to any outstanding Group IV Series of Notes shall occur, the Lessor or the Trustee (provided a Responsible Officer of the Trustee has actual knowledge or has received written notice of such Lease Event of Default or any Limited Liquidation Event of Default) may declare the Rent (calculated as described in clause (i) above) to be due and payable, whereupon such Rent (as so calculated) shall, subject to Section 17.5, become immediately due and payable.
Effect of Lease Event of Default. (a) If any Lease -------------------------------- Event of Default shall occur and be continuing, the rights of the Lessee to place Vehicle Orders pursuant to this Agreement (but not otherwise) shall immediately terminate; (b) if a Lease Event of Default described in Section ------- 15.1.1(i), 15.1.2 or 15.1.5, shall occur, the Lessor may declare all Rent for --------- ------ ------ the Lease Term to be due and payable, whereupon such Rent shall, subject to Section 15.4, become immediately due and payable and upon written demand by the ------------ Lessor, the Lessee shall return or deliver the Vehicles pursuant to the Lessor's instructions; and (c) if any other Lease Event of Default shall occur and be continuing for more than 90 days, the Lessor may declare the Rent for the Lease Term to be due and payable, whereupon such Rent shall, subject to Section 15.4, ------------ become immediately due and payable and upon written demand by the Lessor, the Lessee shall return or deliver the Vehicles pursuant to the Lessor's instructions.
