Common use of Identification of Funds Clause in Contracts

Identification of Funds. On each Business Day, (i) each Legal Entity shall: (1) identify funds in the Joint Collection Accounts as of such Business Day which constitute Non-Qualified Funds with respect to such Legal Entity and direct the QI to immediately transfer such funds to (A) in the case of Non-Qualified Funds of HVF, the Collection Account, (B) in the case of Non-Qualified Funds of Hertz with respect to GE Financed Vehicles, the GE Collateral Account and (C) in the case of other Non-Qualified Funds of Hertz or Non-Qualified Funds of HGI, to such other account as shall be specified by the applicable Legal Entity; (2) initiate on such Business Day proposed Electronic Funds Transfers from the Joint Collection Accounts in order to transfer funds in the Joint Collection Accounts as of such Business Day which constitute Relinquished Property Proceeds with respect to Relinquished Property transferred by such Legal Entity to the applicable Exchange Account and (3) notify the QI and (A) in the case of transfers to the Collection Account or an HVF Exchange Account, the Trustee or (B) in the case of transfers to the GE Collateral Account or a Xxxxx XX Exchange Account, the GE Collateral Agent of such proposed transfers and (ii) each Legal Entity shall: (1) identify funds in the Exchange Accounts as of such Business Day which constitute Non-Qualified Funds with respect to such Legal Entity and direct the QI to immediately transfer such funds to (A) in the case of Non-Qualified Funds of HVF, the Collection Account, (B) in the case of Non-Qualified Funds of Hertz with respect to GE Financed Vehicles, the GE Collateral Account and (C) in the case of other Non-Qualified Funds of Hertz and Non-Qualified Funds of HGI, to such other account as shall be specified by the applicable Legal Entity; (2) initiate on such Business Day proposed Electronic Funds Transfers from (x) an Exchange Account in order to transfer funds in such Exchange Account as of such Business Day which constitute Relinquished Property Proceeds with respect to Relinquished Property transferred by a Legal Entity (but which funds were previously transferred to the Exchange Account of a different Legal Entity) to the applicable Exchange Account, provided that, in the case of an HVF Exchange Account, no Aggregate Asset Amount Deficiency exists or would result therefrom, and (y) a Hertz Exchange Account or an HVF Exchange Account in order to transfer funds in such Exchange Account as of such Business Day which constitute Relinquished Property Proceeds with respect to Relinquished Property transferred by such Legal Entity hereunder to an HGI Exchange Account upon the purchase of a vehicle by Hertz or HVF from HGI and (3) notify the QI and, in the case of a transfer from an HVF Exchange Account, the Trustee or, in the case of a transfer from a Xxxxx XX Exchange Account, the GE Collateral Agent of such proposed transfers.

Identification of Funds. On each Business Day, (i) each Legal Entity shall: (1) identify funds in the Joint Collection Accounts as of such Business Day which constitute Non-Qualified Funds with respect to such Legal Entity and direct the QI to immediately transfer such funds to (A) in the case of Non-Qualified Funds of HVFHVF with respect to HVF Vehicles, the Collection AccountAccount and with respect to HVF Segregated Vehicles constituting the Series-Specific Collateral for any Segregated Series unless otherwise specified in the related Segregated Series Supplement the collection account for such Segregated Series, (B) in the case of Non-Qualified Funds of Hertz with respect to GE Financed Vehicles, the GE Collateral Account and (C) in the case of other Non-Qualified Funds of Hertz or Non-Qualified Funds of HGI, to such other account as shall be specified by the applicable Legal Entity; (2) initiate on such Business Day proposed Electronic Funds Transfers from the Joint Collection Accounts in order to transfer funds in the Joint Collection Accounts as of such Business Day which constitute Relinquished Property Proceeds with respect to Relinquished Property transferred by such Legal Entity to the applicable Exchange Account and (3) notify the QI and (A) in the case of transfers to the Collection Account, any collection account or other account relating to a Segregated Series of Notes, an HVF Exchange Account or an HVF Segregated Exchange Account, the Trustee or (B) in the case of transfers to the GE Collateral Account or a Xxxxx XX Exchange Account, the GE Collateral Agent of such proposed transfers and (ii) each Legal Entity shall: (1) identify funds in the Exchange Accounts as of such Business Day which constitute Non-Qualified Funds with respect to such Legal Entity and direct the QI to immediately transfer such funds to (A) in the case of Non-Qualified Funds of HVFHVF with respect to HVF Vehicles, the Collection AccountAccount and with respect to HVF Segregated Vehicles constituting the Series-Specific Collateral for any Segregated Series unless otherwise specified in the related Segregated Series Supplement the collection account or other account for such Segregated Series, (B) in the case of Non-Qualified Funds of Hertz with respect to GE Financed Vehicles, the GE Collateral Account and (C) in the case of other Non-Qualified Funds of Hertz and Non-Qualified Funds of HGI, to such other account as shall be specified by the applicable Legal Entity; (2) initiate on such Business Day proposed Electronic Funds Transfers from (x) an Exchange Account in order to transfer funds in such Exchange Account as of such Business Day which constitute Relinquished Property Proceeds with respect to Relinquished Property transferred by a Legal Entity (but which funds were previously transferred to the Exchange Account of a different Legal Entity) to the applicable Exchange Account, provided that, in the case of an HVF Exchange Account, no Aggregate Asset Amount Deficiency (under the Base Indenture) exists or would result therefrom and, in the case of an HVF Segregated Exchange Account, no Aggregate Asset Amount Deficiency (under the applicable Segregated Series Supplement) exists or would result therefrom, and (y) a Hertz Exchange Account, an HVF Exchange Account or an HVF Segregated Exchange Account in order to transfer funds in such Exchange Account as of such Business Day which constitute Relinquished Property Proceeds with respect to Relinquished Property transferred by such Legal Entity hereunder to an HGI Exchange Account upon the purchase of a vehicle by Hertz or HVF from HGI and (3) notify the QI and, in the case of a transfer from an HVF Exchange Account or an HVF Segregated Exchange Account, the Trustee or, in the case of a transfer from a Xxxxx XX Exchange Account, the GE Collateral Agent of such proposed transfers.

Identification of Funds. On each Business Day, (i) each Legal Entity shall: (1) identify funds in the Joint Collection Accounts as of such Business Day which constitute Non-Qualified Funds with respect to such Legal Entity and direct the QI to immediately transfer such funds to (A) in the case of Non-Qualified Funds of HVF, the Collection Account, Account and (B) in the case of Non-Qualified Funds of Hertz with respect to GE Financed Vehicles, the GE Collateral Account and (C) in the case of other Non-Qualified Funds of Hertz or Non-Qualified Funds of HGI, to such other account as shall be specified by the applicable Legal Entity; (2) initiate on such Business Day proposed Electronic Funds Transfers from the Joint Collection Accounts in order to transfer funds in the Joint Collection Accounts as of such Business Day which constitute Relinquished Property Proceeds with respect to Relinquished Property transferred by such Legal Entity to the applicable Exchange Account and (3) notify the QI and (A) and, in the case of transfers to the Collection Account or an HVF Exchange Account, the Trustee or (B) in the case of transfers to the GE Collateral Account or a Xxxxx XX Exchange Account, the GE Collateral Agent of such proposed transfers and (ii) each Legal Entity shall: (1) identify funds in the Exchange Accounts as of such Business Day which constitute Non-Qualified Funds with respect to such Legal Entity and direct the QI to immediately transfer such funds to (A) in the case of Non-Qualified Funds of HVF, the Collection Account, Account and (B) in the case of Non-Qualified Funds of Hertz with respect to GE Financed Vehicles, the GE Collateral Account and (C) in the case of other Non-Qualified Funds of Hertz and Non-Qualified Funds of or HGI, to such other account as shall be specified by the applicable Legal Entity; (2) initiate on such Business Day proposed Electronic Funds Transfers from (x) an Exchange Account in order to transfer funds in such Exchange Account as of such Business Day which constitute Relinquished Property Proceeds with respect to Relinquished Property transferred by a Legal Entity (but which funds were previously transferred to the Exchange Account of a different Legal Entity) to the applicable Exchange Account, provided that, in the case of an HVF Exchange Account, no Aggregate Asset Amount Deficiency exists or would result therefrom, and (y) a Hertz Exchange Account or an HVF Exchange Account in order to transfer funds in such Exchange Account as of such Business Day which constitute Relinquished Property Proceeds with respect to Relinquished Property transferred by such Legal Entity hereunder to an HGI Exchange Account upon the purchase of a vehicle by Hertz or HVF from HGI and (3) notify the QI and, in the case of a transfer from an HVF Exchange Account, the Trustee or, in the case of a transfer from a Xxxxx XX Exchange Account, the GE Collateral Agent of such proposed transfers.

Identification of Funds. On each Business DayPromptly (but in no event more than seven (7) days) after the date of the receipt of funds (the “Receipt Date”) in the Joint Collection Accounts, (i) each Legal Entity the Exchangor shall: (1) identify any funds received on such Receipt Date in the Joint Collection Accounts which constitute Non-Qualified Funds and allocate and apply such funds as provided in the Master Collateral Agency Agreement; (2) initiate on the Business Day on which the Exchangor identifies such funds proposed Electronic Funds Transfers from the Joint Collection Accounts in order to apply any funds in the Joint Collection Accounts as of such Business Day which constitute Non-Qualified Funds with respect to such Legal Entity and direct the QI to immediately transfer such funds to (A) in the case of Non-Qualified Funds of HVF, the Collection Account, (B) in the case of Non-Qualified Funds of Hertz with respect to GE Financed Vehicles, the GE Collateral Account and (C) in the case of other Non-Qualified Funds of Hertz or Non-Qualified Funds of HGI, to such other account have been identified as shall be specified by the applicable Legal Entity; (2) initiate on such Business Day proposed Electronic Funds Transfers from the Joint Collection Accounts in order to transfer funds in the Joint Collection Accounts as of such Business Day which constitute Relinquished Property Proceeds with respect to Relinquished Property transferred by the Exchangor hereunder in the following order: first, transfer an amount of such Legal Entity funds sufficient to repay in full all amounts payable, and other liabilities outstanding, which were secured by such Relinquished Property under the Base Indenture, as supplemented by the related LKE Supplements thereto, to the applicable Lender (with respect to which such funds represent (as determined by the Exchangor) payments arising from its Related Vehicles and Related Master Collateral (as determined in accordance with the procedures set forth in the Master Collateral Agency Agreement including, without limitation, Section 2.2 thereof)) to the account specified with respect to such Lender in Schedule A attached hereto (as such Schedule A may from time to time be updated by Vanguard, solely with respect to information relating to a Lender, with the prior written consent of the related Lender), and second, transfer to the Master Exchange Account any remaining amount of such funds; and (3) notify the QI and (A) in the case of transfers to the Collection Account or an HVF Exchange AccountQI, the Trustee or (B) in the case of transfers to the GE Collateral Account or a Xxxxx XX Exchange Account, the GE Master Collateral Agent of such proposed transfers and (ii) each Legal Entity shall: (1) identify funds in the Exchange Accounts as of such Business Day which constitute Non-Qualified Funds with respect to such Legal Entity and direct the QI to immediately transfer such funds to (A) in the case of Non-Qualified Funds of HVF, the Collection Account, (B) in the case of Non-Qualified Funds of Hertz with respect to GE Financed Vehicles, the GE Collateral Account and (C) in the case of other Non-Qualified Funds of Hertz and Non-Qualified Funds of HGI, to such other account as shall be specified by the applicable Legal Entity; (2) initiate on such Business Day proposed Electronic Funds Transfers from (x) an Exchange Account in order to transfer funds in such Exchange Account as of such Business Day which constitute Relinquished Property Proceeds with respect to Relinquished Property transferred by a Legal Entity (but which funds were previously transferred to the Exchange Account of a different Legal Entity) to the applicable Exchange Account, provided that, in the case of an HVF Exchange Account, no Aggregate Asset Amount Deficiency exists or would result therefrom, and (y) a Hertz Exchange Account or an HVF Exchange Account in order to transfer funds in such Exchange Account as of such Business Day which constitute Relinquished Property Proceeds with respect to Relinquished Property transferred by such Legal Entity hereunder to an HGI Exchange Account upon the purchase of a vehicle by Hertz or HVF from HGI and (3) notify the QI and, in the case of a transfer from an HVF Exchange Account, the Trustee or, in the case of a transfer from a Xxxxx XX Exchange Account, the GE Collateral Agent of such proposed transfers.