MANUFACTURER EVENTS OF DEFAULT. (a) Upon the occurrence of a Manufacturer Event of Default with respect to any Manufacturer (a "Defaulting Manufacturer"), each Lessee, on behalf of the Lessor (i) shall no longer place Vehicle Orders for additional Program Vehicles from such Manufacturer and (ii) shall cancel any Vehicle Order with such Defaulting Manufacturer for any Program Vehicle with respect to which a VIN has not been assigned as of the date such Manufacturer Event of Default occurs.
MANUFACTURER EVENTS OF DEFAULT. (a) Upon the occurrence of a Manufacturer Event of Default with respect to any Manufacturer (a “Defaulting Manufacturer”), the Lessor shall no longer purchase Program Vehicles from such Defaulting Manufacturer pursuant to the Purchase Agreement.
MANUFACTURER EVENTS OF DEFAULT. Upon the occurrence of a Manufacturer Event of Default set forth in clauses (i) or (ii) of the definition thereof with respect to a Manufacturer, the Group IV Lessees on behalf of the Group IV Lessor (a) shall no longer place Vehicle Orders for additional Group IV Vehicles from such Manufacturer (each, a "DEFAULTING MANUFACTURER"), and (b) shall cancel any Vehicle Order for Group IV Vehicles of such Defaulting Manufacturer to which a vehicle identification number (a "VIN") has not been assigned as of the date of such Manufacturer Event of Default (to the extent such Vehicle Order is cancelable, with or without penalty). Notwithstanding the foregoing , upon the occurrence of a Manufacturer Event of Default set forth in clause (iii) of the definition thereof with respect to a Manufacturer (each, a "DEFAULTED MANUFACTURER"), the Group IV Lessees on behalf of the Group IV Lessor (a) shall no longer place Vehicle Orders for additional Program Vehicles from such Defaulted Manufacturer, and (b) shall cancel any Vehicle Order for Program Vehicles of such Defaulted Manufacturer to which a VIN has not been assigned as of the date of such Manufacturer Event of Default (to the extent such Vehicle Order is cancelable, with or without penalty); PROVIDED that the Group IV Lessees shall not be required to cancel Vehicle Orders for Non-Program Vehicles of such Defaulted Manufacturer.
MANUFACTURER EVENTS OF DEFAULT. If a Manufacturer Event of Default occurs and is continuing with respect to a Manufacturer that is a Manufacturer of Program Vehicles at the time of such event, the Lessees on behalf of the Lessor shall (a) no longer place Vehicle Orders for additional Program Vehicles from such Manufacturer (each, a “Defaulting Manufacturer”), (b) no longer turn back Program Vehicles for repurchase under any Vehicle Disposition Program of a Defaulting Manufacturer, (c) either (i) convert such Program Vehicles to Non-Program Vehicles in accordance with Section 14(a) or (ii) act at the direction of the Lessor or, to the extent permitted under any Group VII Indenture, the Trustee, to take commercially reasonable action to liquidate the Program Vehicles with respect to such Manufacturer (provided that if such Manufacturer Event of Default is cured and no longer continuing at any time when the Lessee is liquidating such Program Vehicles, the Lessee may cease liquidating such Program Vehicles) and (d) to the extent not legally prohibited from doing so, cancel any Vehicle Order with such Defaulting Manufacturer for Program Vehicles to which a vehicle identification number (a “VIN”) has not been assigned as of the date such Manufacturer Event of Default occurs.
MANUFACTURER EVENTS OF DEFAULT. Upon the occurrence of any of the following events (each, a “Manufacturer Event of Default”) with respect to a Manufacturer, the Lessees on behalf of the Lessor shall (a) no longer place Vehicle Orders for additional Program Vehicles from such Manufacturer (each, a “Defaulting Manufacturer”), (b) no longer turn back Program Vehicles for repurchase under any Vehicle Disposition Program that is a repurchase program of a Defaulting Manufacturer, and (c) cancel any Vehicle Order with such Defaulting Manufacturer to which a vehicle identification number (a “VIN”) has not been assigned as of the date such Manufacturer Event of Default occurs:
MANUFACTURER EVENTS OF DEFAULT. Upon the occurrence of a Manufacturer Event of Default with respect to a Manufacturer (each, a “Defaulted Manufacturer”), the Lessees on behalf of the Lessor (a) shall no longer place Vehicle Orders for additional Program Vehicles from such Defaulted Manufacturer, and (b) shall cancel any Vehicle Order for Program Vehicles of such Defaulted Manufacturer to which a VIN has not been assigned as of the date of such Manufacturer Event of Default (to the extent such Vehicle Order is cancelable, with or without penalty). Upon the occurrence of a Manufacturer Event of Default , the Servicer agrees to (i) act at the direction of the Lessor or the Trustee to take commercially reasonable action to liquidate the Program Vehicles subject to a Manufacturer Program with respect to which such Manufacturer Event of Default has occurred or (ii) convert such Program Vehicles to Non-Program Vehicles promptly, or in the case of a Specified Manufacturer Event of Default, within 30 days of the occurrence of such Specified Manufacturer Event of Default in accordance with Section 14 and subject to the limitations set forth therein.
MANUFACTURER EVENTS OF DEFAULT. Upon the occurrence of any of the following events (each, a "Manufacturer Event of Default") with respect to any Manufacturer (subject to the provisions of Section 20 hereof regarding Eligibility Waiver Events), the relevant Lessee on behalf of the Lessor (a) shall no longer place Group IV Vehicle Orders from such Manufacturer (each, a "Defaulting Manufacturer") for (x) any additional Group IV Vehicles in the event of any Manufacturer Event of Default arising under Section 18.1 or 18.3, (y) any additional Group IV Repurchase Vehicles in the event of any Manufacturer Event of Default arising under Section 18.2, 18.4(i) or 18.5 and (z) any additional Group IV Non-Repurchase Vehicles in the event of any Manufacturer Event of Default arising under Section 18.4(ii) and (b) shall cancel any Group IV Vehicle Order with such Defaulting Manufacturer to which a VIN has not been assigned as of the date such Manufacturer Event of Default occurs:
MANUFACTURER EVENTS OF DEFAULT. 19 SECTION 19. CERTIFICATION OF TRADE OR BUSINESS USE..........................20 SECTION 20. SURVIVAL........................................................20 SECTION 21. RIGHTS OF LESSOR PLEDGED TO MASTER COLLATERAL AGENT AND TRUSTEE.....................................................20 SECTION 22.
MANUFACTURER EVENTS OF DEFAULT. Upon the occurrence of any of the following events (each, a "Manufacturer Event of Default") with respect to any Manufacturer (subject to the provisions of Section 21 hereof regarding Eligibility Waiver Events), the relevant Lessee on behalf of the Lessor (a) shall no longer place Vehicle Orders for additional Vehicles from such Manufacturer (each, a "Defaulting Manufacturer") and (b) shall cancel any Vehicle Order with such Defaulting Manufacturer to which a VIN has not been assigned as of the date such Manufacturer Event of Default occurs:
MANUFACTURER EVENTS OF DEFAULT. Upon the occurrence of a Manufacturer Event of Default with respect to a Manufacturer, the Lessee on behalf of the Lessor (a) shall no longer place Vehicle Orders for additional Program Vehicles from such Manufacturer (each, a "Defaulting Manufacturer") and (b) shall cancel any Vehicle Order for Program Vehicles of such Defaulting Manufacturer to which a vehicle identification number (a "VIN") has not been assigned as of the date such Manufacturer Event of Default occurs (to the extent such Vehicle Order is cancelable, with or without penalty).
