Remarketing Obligations. In the event that Lessee does not exercise its option to acquire Lessor's rights and interests in all the Equipment pursuant to Section 28.2, then Lessee shall have the obligation during the last 180 days of the Basic Term, if applicable (the "Remarketing Period"), to solicit bona fide bids for not less than all Items of Equipment from prospective purchasers who are financially capable of purchasing such Items of Equipment for cash on an "as-is", "where-is" basis, without recourse or warranty. Any bid received by Lessee prior to the end of the Remarketing Period shall be promptly communicated to Lessor and Administrative Agent in writing, setting forth the amount of such bid and the name and address of the person or entity submitting such bid. Notwithstanding the foregoing, Lessor shall have the right, but not the obligation, to seek bids for the Equipment during the Remarketing Period and Lessee shall granx Xxxxxx xxx Administrative Agent or their respective designees access to the Equipment upon reasonable notice and during normal business hours to facilitate the exercising of such right.
Remarketing Obligations. If, 180 days prior to the Lease Termination Date, (i) Lessee does not deliver to the General Partner the Purchase Notice pursuant to the terms of the Partnership Agreement regarding its intention to purchase the General Partner Interest on the Lease Termination Date, or (ii) Lessor, pursuant to the Partnership Agreement, does not notify the Administrative Agent of its intent to pay the Loan on the Lease Termination Date, Lessee shall have the obligation (the "Remarketing Obligation"), as agent for Lessor (during the last 180 days prior to the end of the Term (the "Remarketing Period")), to use its best efforts to obtain bona fide cash bids to purchase the Leased Property, from prospective purchasers who are financially capable of purchasing the Leased Property for cash in accordance with the terms of Section 14.4 of this Lease. Upon the request of Lessor and at Lessee's sole cost and expense, Lessee shall provide Lessor with a written report describing in reasonable detail Lessee's efforts during the Remarketing Period to obtain bona fide bids for the purchase of the Leased Property, including, without limitation, a list of all brokers retained and Persons approached for the purpose of soliciting bids to purchase the Leased Property. Each of Lessor and Lessee shall notify the other promptly of al1 bids received prior to the Lease Termination Date by Lessor or Lessee, as the case may be, and such notice shall certify the amount of the bid and state the name and address of the bidder.
Remarketing Obligations. In the event Obligor does not exercise its option to acquire Obligee's rights and interests in all the Equipment pursuant to this Section and does not renew this Equipment Agreement, then Obligor shall have the obligation during the last 180 days of the Basic Term, or the then current Renewal Term, if applicable (the "Remarketing Period"), to solicit bona fide bids for not less than all Items of Equipment from prospective purchasers who are financially capable of purchasing such Items of Equipment for cash on an as-is, where-is basis, without recourse or warranty. Any bid received by Obligor prior to the end of the Remarketing Period shall be immediately communicated to Obligee, Owner Participant and LC Issuer in writing, setting forth the amount of such bid and the name and address of the person or entity submitting such bid. Notwithstanding the foregoing, Obligee and LC Issuer shall have the right, but not the obligation, to seek bids for the Equipment during the Remarketing Period.
Remarketing Obligations. 21 28.3.2 Notice to Return Possession of Equipment..............................................21 28.3.3 Sale of Equipment to Third Party Buyer................................................22 28.4 Lessee's Early Purchase Option.................................................................22 28.5
Remarketing Obligations. Seller hereby assigns and transfers unto Purchaser all of its rights and interests in, to and under all remarketing and recourse arrangements with any vendor, dealer or supplier relating to any Transaction. Notwithstanding such assignment, Seller shall exert its best efforts on a non-discriminatory basis to remarket any Vehicle that is the subject of any Defaulted Transaction or which is not purchased by the Obligor under a true lease Transaction at the end of the term thereof, and shall be responsible for all efforts, cost and expenses in connection with the remarketing of any Vehicle sold to Purchaser hereunder, As used herein, a "Defaulted Transaction" is a Transaction where the Independent Operator and/or any other Obligor fails to comply with any of its/his/hers obligations, undertakings, or other covenants set forth herein, as a result of which the lessor or lender party to such Transaction is entitled to re-posses and dispose of the Vehicle subject to such Transaction.
Remarketing Obligations. In the event Obligor does not ------------------------- exercise either its option to renew this Agreement or to purchase Obligee's interest in the Equipment pursuant to this Section, then Obligor shall have the obligation during the last one hundred eighty (180) days of the Basic Term, or the then current Renewal Term, if applicable (the "Remarketing Period"), to obtain bona fide bids for Obligee's interest in not less than all Items of Equipment then subject to this Agreement from prospective purchasers who are financially capable of purchasing such interest for cash on an as-is, where-is basis, without recourse or warranty. All bids received by Obligor prior to the end of the Basic Term, or Renewal Term if applicable, of such Item(s) of Equipment shall be immediately certified to Obligee in writing, setting forth the amount of such bid and the name and address of the person or entity submitting such bid. Notwithstanding the foregoing, Obligee shall have the right, but not the obligation, to seek bids for its interest in the Equipment during the Remarketing Period.
Remarketing Obligations. If the Head Lessee is then permitted to exercise the Return Option and so elects to exercise the Return Option, the Head Lessee shall give written notice to the Head Lessor (with a copy to each Entitled Party) not more than 210 days prior
Remarketing Obligations. Borrower hereby assigns and transfers unto Lender or shall cause the Originator to assign and transfer to Lender, all of its rights and interests in, to and under all remarketing and recourse arrangements with originating lessors and vendors relating to any Transaction. Notwithstanding such assignment, Borrower shall at Lender's request be responsible for all efforts, cost and expenses in connection with the remarketing of any Equipment.
Remarketing Obligations. (a) FCI's Obligations. In the event that either (x) the Borrower fails to ------------------ effect, within one Business Day after a Settlement Date prior to which the Borrower or the Servicer has become aware (or otherwise received written notice) that any Pledged Contract has become a Defective Contract or a Defaulted Contract, the release of such Pledged Contract from the Primary Lien of this Credit Agreement pursuant to the terms of any of Sections 7.01(a), (b), and (c), ---------------- --- --- and Section 7.01(d), or (y) a Contract becomes a Defaulted Contract, a Defective --------------- Contract or an Overconcentration Contract at any time after the earlier of (1) the Liquidation Trigger Date, or (2) the Termination Date if either a Borrowing Base Shortfall, O/C Shortfall or a Spread Account Shortfall is in existence (based upon the Settlement Report prepared for the most recently ended Calculation Period):
Remarketing Obligations. (a) FCI's Obligations. In the event that either (i) the Issuer fails to ----------------- effect, within one Business Day after a Payment Date prior to which the Issuer or the Servicer has become aware (or otherwise received written notice) that any Pledged Contract has become a Defective Contract or a Defaulted Contract, the release of such Pledged Contract from the Lien of this Agreement pursuant to the terms of any of Sections 3.5(a) or (b), or (ii) a Contract becomes a Defaulted Contract, Defective Contract at any time after the occurrence of an Event of Default,
