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Common use of Minimum Depreciation Rate Clause in Contracts

Minimum Depreciation Rate. Each Servicer and the Master Servicer agree that the scheduled daily depreciation charge with respect to Non-Program Vehicles leased under this Lease shall be established such that (i) the Depreciation Charges accruing with respect to each such Non-Program Vehicle during each Related Month shall be at least equal to 1.00%, and (ii) the weighted average Depreciation Charges accruing with respect to all such Non-Program Vehicles during each Related Month shall be at least equal to the lesser of (a) 1.25% and (b) such lower percentage in respect of which the Rating Agency Condition with respect to each Group VII Series of Notes shall have been satisfied.

Appears in 1 contract

Samples: Master Motor Vehicle Lease and Servicing Agreement (Dollar Thrifty Automotive Group Inc)

Minimum Depreciation Rate. Each Servicer and the Master Servicer agree that the scheduled daily depreciation charge with respect to Non-Program Vehicles leased under this Lease shall be established such that (i) the Depreciation Charges accruing with respect to each such Non-Program Vehicle during each Related Month shall be at least equal to 1.00%, and (ii) the weighted average Depreciation Charges accruing with respect to all such Non-Program Vehicles during each Related Month shall be at least equal to the lesser of (a) 1.251.50% and (b) such lower percentage in respect of which the Rating Agency Condition with respect to each Group VII Series of Notes shall have been satisfied.

Appears in 1 contract

Samples: Master Motor Vehicle Lease and Servicing Agreement (Dollar Thrifty Automotive Group Inc)

Minimum Depreciation Rate. Each Servicer and the Master Servicer agree that the scheduled daily depreciation charge with respect to Non-Program Vehicles leased under this Lease shall be established such that (i) the daily Depreciation Charges accruing Charge with respect to each such Non-Program Vehicle during each Related Month shall be at least equal to 1.00%, and (ii) the weighted average Depreciation Charges accruing with respect to all such Non-Program Vehicles during each Related Month shall be at least equal to the lesser of (a) 1.25% and (b) such lower percentage in respect of which the Rating Agency Condition with respect to each Group VII V Series of Notes shall have been satisfied.

Appears in 1 contract

Samples: Master Motor Vehicle Lease and Servicing Agreement (Dollar Thrifty Automotive Group Inc)

Minimum Depreciation Rate. Each Servicer and the Master Servicer agree that the scheduled daily depreciation charge with respect to Non-Program Vehicles leased under this Lease shall be established such that (i) the Depreciation Charges accruing with respect to each such Non-Program Vehicle during each Related Month shall be at least equal to 1.00%, and (ii) the weighted average Depreciation Charges accruing with respect to all such Non-Program Vehicles during each Related Month shall be at least equal to the lesser of (a) 1.25% and (b) such lower percentage in respect of which the Rating Agency Condition with respect to each Group VII VIII Series of Notes shall have been satisfied.

Appears in 1 contract

Samples: Master Motor Vehicle Lease and Servicing Agreement (Dollar Thrifty Automotive Group Inc)