Common use of Procedure for transfer Clause in Contracts

Procedure for transfer. (a) Subject to conditions set out in paragraph 1.1 (Conditions of transfer) a Transfer shall be effected in accordance with sub-paragraph (b) below not less than 2 (two) Business Days following receipt by FleetCo of a duly completed transfer certificate substantially in the form set out in Annex 1 (the “Transfer Certificate”) delivered to it by the Existing Supplier and the New Supplier. (b) On the Transfer Date: (i) to the extent that in the Transfer Certificate the Existing Supplier seeks to transfer its rights and obligations under this Agreement in respect of the Relevant Vehicles, each of FleetCo and the Existing Supplier shall be released from further obligations towards one another in respect of the Relevant Vehicles under this Agreement and their respective rights against one another under this Agreement in respect of the Relevant Vehicles shall be cancelled (being the “Discharged Rights and Obligations”); (ii) each of Spanish FleetCo and the New Supplier shall assume obligations towards one another and/or acquire rights against one another which shall be the same as the Discharged Rights and Obligations insofar as Spanish FleetCo and the New Supplier have assumed and/or acquired the same in place of FleetCo and the Existing Supplier; and (iii) the New Supplier shall become a party to the New Agreement.

Appears in 5 contracts

Samples: Spanish Master Lease and Servicing Agreement (Hertz Corp), Spanish Master Lease and Servicing Agreement (Hertz Corp), Master Lease and Servicing Agreement (Hertz Corp)

AutoNDA by SimpleDocs

Procedure for transfer. (a) Subject to conditions set out in paragraph Sub-Clause 1.1 (Conditions of transfer) a Transfer shall be effected in accordance with sub-paragraph (b) below not less than 2 (two) Business Days following receipt by FleetCo of a duly completed transfer certificate substantially in the form set out in Annex 1 (the “Transfer Certificate”) delivered to it by the Existing Supplier and the New Supplier. (b) On the Transfer Date: (i) to the extent that in the Transfer Certificate the Existing Supplier seeks to transfer its rights and obligations under this Agreement in respect of the Relevant Vehicles, each of FleetCo and the Existing Supplier shall be released from further obligations towards one another in respect of the Relevant Vehicles under this Agreement and their respective rights against one another under this Agreement in respect of the Relevant Vehicles shall be cancelled (being the “Discharged Rights and Obligations”); (ii) each of Spanish French FleetCo and the New Supplier shall assume obligations towards one another and/or acquire rights against one another which shall be the same as the Discharged Rights and Obligations insofar as Spanish French FleetCo and the New Supplier have assumed and/or acquired the same in place of FleetCo and the Existing Supplier; and (iii) the New Supplier shall become a party to the New Agreement.

Appears in 5 contracts

Samples: Master Lease and Servicing Agreement (Hertz Corp), French Master Lease and Servicing Agreement (Hertz Corp), French Master Lease and Servicing Agreement (Hertz Corp)

Procedure for transfer. (a) Subject to conditions set out in paragraph 1.1 2 (Conditions of transfer) ), a Transfer shall be effected in accordance with sub-paragraph (b) below not less than 2 (two) two Business Days following receipt by FleetCo of a duly completed transfer certificate substantially in the form set out in Annex 1 (the “Transfer Certificate”) delivered to it by the Existing Supplier and the New Supplier. (b) On the Transfer Date: (i) to the extent that in the Transfer Certificate the Existing Supplier seeks to transfer its rights and obligations under this Agreement in respect of the Relevant Vehicles, each of FleetCo and the Existing Supplier shall be released from further obligations towards one another in respect of the Relevant Vehicles under this Agreement and their respective rights against one another under this Agreement in respect of the Relevant Vehicles shall be cancelled (being the “Discharged Rights and Obligations”); (ii) each of Spanish Dutch FleetCo and the New Supplier shall assume obligations towards one another and/or acquire rights against one another which shall be the same as the Discharged Rights and Obligations insofar as Spanish Dutch FleetCo and the New Supplier have assumed and/or acquired the same in place of FleetCo and the Existing Supplier; and (iii) the New Supplier shall become a party to the New Agreement.

Appears in 2 contracts

Samples: Dutch Master Lease and Servicing Agreement (Hertz Corp), Dutch Master Lease and Servicing Agreement (Hertz Corp)

Procedure for transfer. (a) Subject to conditions set out in paragraph 1.1 2 (Conditions of transfer) ), a Transfer shall be effected in accordance with sub-paragraph (b) below not less than 2 (two) two Business Days following receipt by FleetCo of a duly completed transfer certificate substantially in the form set out in Annex 1 (the “Transfer Certificate”) delivered to it by the Existing Supplier and the New Supplier. (b) On the Transfer Date: (i) to the extent that in the Transfer Certificate the Existing Supplier seeks to transfer its rights and obligations under this Agreement in respect of the Relevant Vehicles, each of FleetCo and the Existing Supplier shall be released from further obligations towards one another in respect of the Relevant Vehicles under this Agreement and their respective rights against one another under this Agreement in respect of the Relevant Vehicles shall be cancelled (being the “Discharged Rights and Obligations”);; A37279892 61 WEIL:\96789896\1\52396.0010 (ii) each of Spanish Dutch FleetCo and the New Supplier shall assume obligations towards one another and/or acquire rights against one another which shall be the same as the Discharged Rights and Obligations insofar as Spanish Dutch FleetCo and the New Supplier have assumed and/or acquired the same in place of FleetCo and the Existing Supplier; and (iii) the New Supplier shall become a party to the New Agreement.

Appears in 1 contract

Samples: Dutch Master Lease and Servicing Agreement (Hertz Corp)

Procedure for transfer. (a) Subject to conditions set out in paragraph 1.1 (Conditions of transfer) a Transfer shall be effected in accordance with sub-paragraph (b) below not less than 2 (two) Business Days following receipt by FleetCo of a duly completed transfer certificate substantially in the form set out in Annex 1 (the “Transfer Certificate”) delivered to it by the Existing Supplier and the New Supplier. (b) On the Transfer Date: (i) to the extent that in the Transfer Certificate the Existing Supplier seeks to transfer its rights and obligations under this Agreement in respect of the Relevant Vehicles, each of FleetCo and the Existing Supplier shall be released from further obligations towards one another in respect of the Relevant Vehicles under this Agreement and their respective rights against one another under this Agreement in respect of the Relevant Vehicles shall be cancelled (being the “Discharged Rights and Obligations”);; A3730188354 WEIL: (ii) each of Spanish FleetCo and the New Supplier shall assume obligations towards one another and/or acquire rights against one another which shall be the same as the Discharged Rights and Obligations insofar as Spanish FleetCo and the New Supplier have assumed and/or acquired the same in place of FleetCo and the Existing Supplier; and (iii) the New Supplier shall become a party to the New Agreement.

Appears in 1 contract

Samples: Spanish Master Lease and Servicing Agreement (Hertz Corp)

Procedure for transfer. (a) Subject to conditions set out in paragraph 1.1 2 (Conditions of transfer) ), a Transfer shall be effected in accordance with sub-paragraph (b) below not less than 2 (two) two Business Days following receipt by FleetCo of a duly completed transfer certificate substantially in the form set out in Annex 1 (the “Transfer Certificate”) delivered to it by the Existing Supplier and the New Supplier. (b) On the Transfer Date: (i) to the extent that in the Transfer Certificate the Existing Supplier seeks to transfer its rights and obligations under this Agreement in respect of the Relevant Vehicles, each of FleetCo and the Existing Supplier shall be released from further obligations towards one another in respect of the Relevant Vehicles under this Agreement and their respective rights against one another under this Agreement in respect of the Relevant Vehicles shall be cancelled (being the “Discharged Rights and Obligations”);; 115 (ii) each of Spanish Dutch FleetCo and the New Supplier shall assume obligations towards one another and/or acquire rights against one another which shall be the same as the Discharged Rights and Obligations insofar as Spanish Dutch FleetCo and the New Supplier have assumed and/or acquired the same in place of FleetCo and the Existing Supplier; and (iii) the New Supplier shall become a party to the New Agreement.

Appears in 1 contract

Samples: Dutch Master Lease and Servicing Agreement (Hertz Corp)

Procedure for transfer. (a) Subject to conditions set out in paragraph Sub-Clause 1.1 (Conditions of transfer) a Transfer shall be effected in accordance with sub-paragraph (b) below not less than 2 (two) Business Days following receipt by FleetCo of a duly completed transfer certificate substantially in the form set out in Annex 1 (the “Transfer Certificate”) delivered to it by the Existing Supplier and the New Supplier. (b) On the Transfer Date: (i) to the extent that in the Transfer Certificate the Existing Supplier seeks to transfer its rights and obligations under this Agreement in respect of the Relevant Vehicles, each of FleetCo and the Existing Supplier shall be released from further obligations towards one another in respect of the Relevant Vehicles under this Agreement and their respective rights against one another under this Agreement in respect of the Relevant Vehicles shall be cancelled (being the “Discharged Rights and Obligations”); (ii) each of Spanish French FleetCo and the New Supplier shall assume obligations towards one another and/or acquire rights against one another which shall be the same as the Discharged Rights and Obligations insofar as Spanish French FleetCo and the New Supplier have assumed and/or acquired the same in place of FleetCo and the Existing Supplier; and (iii) the New Supplier shall become a party to the New Agreement.. WEIL:\96789894\1\52396.0010

Appears in 1 contract

Samples: French Master Lease and Servicing Agreement (Hertz Corp)

AutoNDA by SimpleDocs

Procedure for transfer. (a) Subject to conditions set out in paragraph 1.1 (Conditions of transfer) a Transfer shall be effected in accordance with sub-paragraph (b) below not less than 2 (two) Business Days following receipt by FleetCo of a duly completed transfer certificate substantially in the form set out in Annex 1 (the “Transfer Certificate”) delivered to it by the Existing Supplier and the New Supplier. (b) On the Transfer Date: (i) to the extent that in the Transfer Certificate the Existing Supplier seeks to transfer its rights and obligations under this Agreement in respect of the Relevant Vehicles, each of FleetCo and the Existing Supplier shall be released from further obligations towards one another in respect of the Relevant Vehicles under this Agreement and their respective rights against one another under this Agreement in respect of the Relevant Vehicles shall be cancelled (being the “Discharged Rights and Obligations”); (ii) each of Spanish FleetCo and the New Supplier shall assume obligations towards one another and/or acquire rights against one another which shall be the same as the Discharged Rights and Obligations insofar as Spanish FleetCo and the New Supplier have assumed and/or acquired the same in place of FleetCo and the Existing Supplier; andand A3730188352 WEIL:\96789897\1\52396.0010 (iii) the New Supplier shall become a party to the New Agreement.

Appears in 1 contract

Samples: Spanish Master Lease and Servicing Agreement (Hertz Corp)

Procedure for transfer. (a) Subject to conditions set out in paragraph 1.1 2 (Conditions of transfer) ), a Transfer shall be effected in accordance with sub-paragraph (b) below not less than 2 (two) two Business Days following receipt by FleetCo of a duly completed transfer certificate substantially in the form set out in Annex 1 (the “Transfer Certificate”) delivered to it by the Existing Supplier and the New Supplier. (b) On the Transfer Date: (i) to the extent that in the Transfer Certificate the Existing Supplier seeks to transfer its rights and obligations under this Agreement in respect of the Relevant Vehicles, each of FleetCo and the Existing Supplier shall be released from further obligations towards one another in respect of the Relevant Vehicles under this Agreement and their respective rights against one another under this Agreement in respect of the Relevant Vehicles shall be cancelled (being the “Discharged Rights and Obligations”);; 61A37279892 WEIL:\96789896\1\52396.0010 (ii) each of Spanish Dutch FleetCo and the New Supplier shall assume obligations towards one another and/or acquire rights against one another which shall be the same as the Discharged Rights and Obligations insofar as Spanish Dutch FleetCo and the New Supplier have assumed and/or acquired the same in place of FleetCo and the Existing Supplier; and (iii) the New Supplier shall become a party to the New Agreement.

Appears in 1 contract

Samples: Dutch Master Lease and Servicing Agreement (Hertz Corp)

Procedure for transfer. (a) Subject to conditions set out in paragraph 1.1 2 (Conditions of transfer) ), a Transfer shall be effected in accordance with sub-paragraph (b) below not less than 2 (two) two Business Days following receipt by FleetCo of a duly completed transfer certificate substantially in the form set out in Annex 1 (the “Transfer Certificate”) delivered to it by the Existing Supplier and the New Supplier. (b) On the Transfer Date: (i) to the extent that in the Transfer Certificate the Existing Supplier seeks to transfer its rights and obligations under this Agreement in respect of the Relevant Vehicles, each of FleetCo and the Existing Supplier shall be released from further obligations towards one another in respect of the Relevant Vehicles under this Agreement and their respective rights against one another under this Agreement in respect of the Relevant Vehicles shall be cancelled (being the “Discharged Rights and Obligations”);; A37279892 59 WEIL: (ii) each of Spanish Dutch FleetCo and the New Supplier shall assume obligations towards one another and/or acquire rights against one another which shall be the same as the Discharged Rights and Obligations insofar as Spanish Dutch FleetCo and the New Supplier have assumed and/or acquired the same in place of FleetCo and the Existing Supplier; and (iii) the New Supplier shall become a party to the New Agreement.

Appears in 1 contract

Samples: Dutch Master Lease and Servicing Agreement (Hertz Corp)

Procedure for transfer. (a) Subject to conditions set out in paragraph Sub-Clause 1.1 (Conditions of transfer) a Transfer shall be effected in accordance with sub-paragraph (b) below not less than 2 (two) Business Days following receipt by FleetCo of a duly completed transfer certificate substantially in the form set out in Annex 1 (the “Transfer Certificate”) delivered to it by the Existing Supplier and the New Supplier. (b) On the Transfer Date: (i) to the extent that in the Transfer Certificate the Existing Supplier seeks to transfer its rights and obligations under this Agreement in respect of the Relevant Vehicles, each of FleetCo and the Existing Supplier shall be released from further obligations towards one another in respect of the Relevant Vehicles under this Agreement and their respective rights against one another under this Agreement in respect of the Relevant Vehicles shall be cancelled (being the “Discharged Rights and Obligations”); (ii) each of Spanish French FleetCo and the New Supplier shall assume obligations towards one another and/or acquire rights against one another which shall be the same as WEIL: the Discharged Rights and Obligations insofar as Spanish French FleetCo and the New Supplier have assumed and/or acquired the same in place of FleetCo and the Existing Supplier; and (iii) the New Supplier shall become a party to the New Agreement.

Appears in 1 contract

Samples: French Master Lease and Servicing Agreement (Hertz Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!