Repurchase Programs. With respect to each Repurchase Vehicle leased by each Lessee (a) unless previously purchased by such Lessee pursuant to this Agreement, turn in such Repurchase Vehicle to the relevant Manufacturer within the Repurchase Period therefor, (b) dispose of such Repurchase Vehicle under the applicable Repurchase Program according to its historical practice and in accordance with the requirements of such Repurchase Program, and (c) comply with all of its (and the Lessor's) obligations under the applicable Repurchase Program.
Repurchase Programs. NFC agrees that it will (i) provide the Liquidity Agent, the Dealers and each Rating Agency with at least 30 days' prior written notice of its intention to make Loans to National under the Loan Agreement for the purchase or financing of Vehicles manufactured by any new Manufacturer, (ii) provide the Liquidity Agent, the Dealers and each Rating Agency with a copy of the draft Repurchase Program of such Manufacturer as it then exists at the time of such notice and a copy of the final Repurchase Program promptly upon its being available and (iii) certify to the Liquidity Agent and the Liquidity Lenders that such new Manufacturer is an Eligible Manufacturer and that such Repurchase Program is an Eligible Repurchase Program at such time. In no event shall NFC agree, to the extent any consent of NFC is solicited or required by the Manufacturer or any assignor of such Repurchase Program, to any change in any Repurchase Program that is reasonably likely to materially adversely affect its rights or the rights of the Secured Parties with respect to any Vehicle previously purchased under such Repurchase Program.
Repurchase Programs. With respect to each Group IV Repurchase Vehicle leased by each Lessee hereunder (a) unless previously purchased by such Lessee pursuant to this Agreement, redesignated as a Group IV Non-Repurchase Vehicle pursuant to Section 14 hereof or, in the case of any Group IV Type II Repurchase Vehicle, otherwise disposed of outside the applicable Repurchase Program in accordance with 3.2, turn in such Group IV Repurchase Vehicle to the relevant Manufacturer within the Repurchase Period therefor, (b) dispose of such Group IV Repurchase Vehicle under the applicable Repurchase Program according to its historical practice and in accordance with the requirements of such Repurchase Program, and (c) comply with all of its (and the Lessor's) obligations under the applicable Repurchase Program.
Repurchase Programs. On the date of each Borrowing, each Manufacturer and each Repurchase Program in respect of which any portion of the Borrowing Base is calculated (including any portion of the Borrowing Base comprising the amount of the Series 1996-2 Invested Amount used to refinance, finance or purchase Vehicles of or from such Manufacturer) shall be an Eligible Manufacturer and Eligible Repurchase Program, respectively."
(l) Clauses (a) through (h) of Section 8.
1.1 are amended in full to read:
(a) promptly upon the delivery by National to NFC, copies of the financial information and other materials required to be delivered by National to NFC pursuant to Section 24.7(i) of the Lease;
(b) promptly upon the delivery by National to NFC, copies of the financial information and other materials required to be delivered by National to NFC pursuant to Section 24.7(ii) of the Lease;
(c) [reserved];
(d) from time to time such additional information regarding the condition, financial or otherwise, or operations of National as the Liquidity Agent may reasonably request to the extent that National delivers such information to NFC pursuant to Section 24.7(xi) of the Lease;
(e) at the time of delivery of the items described in clauses (a) and (b) above, a certificate of an officer of NFC that, except as provided in any certificate delivered in accordance with Section 8.1.9, no Amortization Event or (to the best of such officer's knowledge) Potential Amortization Event has occurred or is continuing during such fiscal quarter;
(f) on or prior to June 30 of each year, a certificate of the chief financial officer of NFC certifying that (i) the ratings assigned by the Rating Agencies in respect of the commercial paper issued by NFC have not been withdrawn or downgraded below A-1 by S&P or P-1 by Moodx'x xxxce the date of this Liquidity Agreement, (ii) the face amount of each Series 1996-2 Fronting Letter of Credit satisfies the requirements of each Rating Agency, (iii) no change in the Repurchase Program of any Manufacturer in respect of any new model year shall have given rise to any request on the part of the Rating Agencies that any modification be made to the Series 1996-2 Note, the Series 1996-2 Supplement, the Lease or any other Related Document, and (iv) NFC has apprised the Rating Agencies of all material changes in the Repurchase Programs occurring since the date of this Liquidity Agreement;
(g) promptly following the introduction of any prospective change in any Repurchase Program ...
Repurchase Programs. 31 Section 23.17. Title to Assets ........................................................................... 31 Section 23.18. Accuracy of Information ................................................................... 31 Section 23.19.
Repurchase Programs. 35 Section 24.7.
Repurchase Programs. No Manufacturer Default or Manufacturer Ineligibility Event has occurred and is continuing.
Repurchase Programs. Turn in each Vehicle leased by the Lessee to the relevant Manufacturer within the Repurchase Period therefor pursuant to Section 12.2. (unless the Lessee (i) sells such Vehicle pursuant to Section 27 and, prior to the end of the Repurchase Period therefor, causes to be deposited to the Master Collateral Account (or as otherwise directed by the NFC Collateral Agent pursuant to the NFC Collateral Agreement) the sales proceeds therefor in cash in an amount pursuant to such Section, (ii) purchases such Vehicle as permitted by, and pursuant to the requirements of, this Agreement and, prior to the end of the Repurchase Period therefor, deposits to the NFC Collection Account (or as otherwise directed by the NFC Collateral Agent pursuant to the NFC Collateral Agreement) the purchase price therefor in cash in the amount so required, or (iii) in the case of any Vehicle that becomes a Casualty or ceases to be an Eligible Vehicle, deposits to the NFC Collection Account (or as otherwise directed by the NFC Collateral Agent pursuant to the NFC Collateral Agreement) the Casualty Payment therefor in cash pursuant to Section 7); and, with respect to each Vehicle leased by the Lessee, comply in all material respects with all of its obligations under the Repurchase Program relating to such Vehicle.
Repurchase Programs. The Servicer shall promptly transfer its electronic records relating to the Vehicles to the Successor Servicer in such electronic form as the successor Servicer may reasonably request and shall promptly transfer to the Successor Servicer all of its records, correspondence and documents necessary for the continued servicing of the Vehicles in the manner and at such times as the Successor Servicer shall reasonably request. To the extent that the compliance with this Section 4.16 shall require the Servicer to disclose to the Successor Servicer information of any kind which the Servicer reasonably deems to be confidential, the Successor Servicer shall be required to enter into such customary licensing and confidentiality agreements as the Servicer shall reasonably deem necessary to protect its interest.
Repurchase Programs. TFFC is an authorized fleet purchaser under the Repurchase Programs operated by Ford, Chrysler, General Motors, Saab and Toyota (to the extent it is purchasing Vehicles manufactured by such Manufacturers); provided, however, that TFFC shall not purchase Vehicles under the Repurchase Program of any such Manufacturer unless the Repurchase Program for the applicable model year has previously been approved by the Rating Agencies. Each of such Repurchase Programs, and any other Repurchase Program under which TFFC owns Vehicles is in full force and effect (to the extent TFFC is purchasing Vehicles manufactured by such Manufacturers) and has not been previously assigned, transferred or pledged by TFFC (except to the Trustee).
