Common use of Effect of Lease Event of Default Clause in Contracts

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 (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 the outstanding Series of 1996-1 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 the outstanding Series of 1996-1 Notes were then due and payable in full) and, with respect to Non-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 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 (i) a Lease Event of Default described in Section 18.1.117.1.1, 18.1.2 17.1.2, 17.1.5, 17.1.7 or 18.1.6 17.1.8 shall occur, then the Monthly Base Rent 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 Outstanding Group II 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 Outstanding Group II 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 18.517.5, become immediately due and payable.

Effect of Lease Event of Default. If (i) a Lease Event of Default described in Section 18.1.117.1.1(i), 18.1.2 17.1.2 or 18.1.6 17.1.5 shall occur, then the Monthly Base Rent 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 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 were then due and payable in full) ), Termination Payments 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) 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 or any Liquidation 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 18.517.4, become immediately due and payable.