Common use of Modification and Severability Clause in Contracts

Modification and Severability. The terms of this Agreement will not be waived, altered, modified, amended, supplemented or terminated in any manner whatsoever unless (i) the same shall be in writing and signed and delivered by the Lessor, the Servicer and the Lessee and consented to in writing by the Trustee and (ii) the Rating Agency Condition with respect to each Series of Notes Outstanding shall have been satisfied with respect to such amendment. If any part of this Agreement is not valid or enforceable according to law, all other parts will remain enforceable.

Appears in 3 contracts

Samples: Master Motor Vehicle Operating Lease and Servicing Agreement (Hertz Global Holdings Inc), Master Motor Vehicle Operating Lease and Servicing Agreement (Hertz Corp), Master Motor Vehicle Operating Lease and Servicing Agreement (Hertz Global Holdings Inc)

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Modification and Severability. The terms of this Agreement will not be waived, altered, modified, amended, supplemented or terminated in any manner whatsoever unless (i) the same shall be in writing and signed and delivered by the Lessor, the Servicer and the Lessee and consented to in writing by the Trustee and (ii) the Rating Agency Condition with respect to each Series of Notes Outstanding that is rated by a Rating Agency shall have been satisfied with respect to such amendment. If any part of this Agreement is not valid or enforceable according to law, all other parts will remain enforceable.

Appears in 3 contracts

Samples: Master Motor Vehicle Operating Lease and Servicing Agreement, Master Motor Vehicle Operating Lease and Servicing Agreement (Zipcar Inc), Master Motor Vehicle Operating Lease and Servicing Agreement (Zipcar Inc)

Modification and Severability. The terms of this Agreement will not be waived, altered, modified, amended, supplemented or terminated in any manner whatsoever unless (i) the same shall be in writing and except by written instrument signed and delivered by the Lessor, the Servicer Lessor and the each Lessee and consented to in writing by the Trustee and (ii) the Rating Agency Condition with respect to each Series of Notes Outstanding shall have been satisfied with respect to such amendmentTrustee. If any part of this Agreement is not valid or enforceable according to law, all other parts will remain enforceable. The Lessor shall provide prompt written notice to each Rating Agency of any such waiver, modification or amendment.

Appears in 2 contracts

Samples: Motor Vehicle Lease Agreement (Team Rental Group Inc), Master Motor Vehicle Lease Agreement (Team Rental Group Inc)

Modification and Severability. The terms of this Agreement will not be waived, altered, modified, amended, supplemented or terminated in any manner whatsoever unless (i) the same shall be in writing and signed and delivered by the Lessor, the Servicer Finance Lease Guarantor and the each Lessee and consented to in writing by the Trustee Lender and the Trustee, and (ii) the Rating Agency Consent Condition with respect to each Series of Notes Outstanding shall have been satisfied with respect to such amendmentsatisfied. If any part of this Agreement is not valid or enforceable according to law, all other parts will remain enforceable. The Lessor shall provide prompt written notice to each Rating Agency of any such waiver, modification or amendment.

Appears in 2 contracts

Samples: Master Motor Vehicle Finance Lease Agreement, Master Motor Vehicle Finance Lease Agreement (Avis Budget Group, Inc.)

Modification and Severability. The terms of this Agreement will not be waived, altered, modified, amended, supplemented or terminated in any manner whatsoever unless (i) the same shall be in writing and signed and delivered by the Lessor, the Servicer Guarantor and the Lessee and consented to in writing by the Trustee and (ii) by the Rating Agency Condition with respect to Required Noteholders of each Group I Series of Notes Outstanding shall have been satisfied with respect to such amendmentOutstanding. If any part of this Agreement is not valid or enforceable according to law, all other parts will remain enforceable.

Appears in 1 contract

Samples: Master Motor Vehicle Operating Lease Agreement (Avis Budget Group, Inc.)

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Modification and Severability. The terms of this Agreement will not be waived, altered, modified, amended, supplemented or terminated in any manner whatsoever unless (i) the same shall be in writing and signed and delivered by the Lessor, the Servicer Lessor and the Lessee and consented to in writing by the Lender and the Trustee and (ii) the Rating Agency Consent Condition with respect to each Series of Notes Outstanding shall have been satisfied with respect to such amendmentsatisfied. If any part of this Agreement is not valid or enforceable according to law, all other parts will remain enforceable. The Lessor shall provide prompt written notice to each Rating Agency of any such waiver, modification or amendment.

Appears in 1 contract

Samples: Master Motor Vehicle Operating Lease Agreement (Cendant Corp)

Modification and Severability. The terms of this Agreement will not be waived, altered, modified, amended, supplemented or terminated in any manner whatsoever unless (i) the same shall be in writing and except by a written instrument signed and delivered by the Lessor, the Servicer Lessor and the Lessee and consented to in writing by the Trustee Master Collateral Agent and (ii) the Rating Agency Condition with respect to each Series of Notes Outstanding shall have been satisfied with respect to such amendmentTrustee. If any part of this Agreement is not valid or enforceable according to law, all other parts will remain enforceable. The Lessor shall provide prompt written notice to each Rating Agency of any such waiver, modification or amendment.

Appears in 1 contract

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

Modification and Severability. The terms of this Agreement will not be waived, altered, modified, amended, supplemented or terminated in any manner whatsoever unless (i) the same shall be in writing and signed and delivered by the Lessor, the Servicer Guarantor and the Lessee and consented to in writing by the Trustee and (ii) by the Rating Agency Condition with respect to Required Noteholders of each Series of Notes Outstanding shall have been satisfied with respect to such amendmentOutstanding. If any part of this Agreement is not valid or enforceable according to law, all other parts will remain enforceable.

Appears in 1 contract

Samples: Master Motor Vehicle Operating Lease Agreement (Cendant Corp)

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