Common use of Source for Payment; Limited Recourse Clause in Contracts

Source for Payment; Limited Recourse. The 20 - Exchange Note will be payable solely from Collections on the Leases and Leased Vehicles allocated to the 20 - Reference Pool, the proceeds of the other Borrower Collateral and any Shared Amounts allocated to the 20 - Exchange Note under Section 5.1, in each case, according to the priorities in Section 5.1. For purposes of determining the Collections that are for the 20 - Reference Pool, the Leases and Leased Vehicles will be deemed to have been allocated to the 20 - Reference Pool from and after the related Cutoff Date. Recourse for the 20 - Exchange Noteholder will be limited to the 20 - Reference Pool.

Appears in 2 contracts

Samples: Credit and Security Agreement (CAB East LLC), Credit and Security Agreement (CAB East LLC)

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Source for Payment; Limited Recourse. The 20 - Exchange Note will be payable solely from Collections on the Leases and Leased Vehicles allocated to the 20 - Reference PoolExchange Note Available Funds, the proceeds of the other Borrower Collateral and any Shared Amounts allocated to the 20 - Exchange Note under Section 5.1, in each case, according to the priorities in Section 5.1. For purposes of determining the Collections that are for the 20 - Reference PoolCollections, the Leases and Leased Vehicles will be deemed to have been allocated to the 20 - Reference Pool from and after the related Cutoff Date. Recourse for the 20 - Exchange Noteholder will be limited to the 20 - Reference Pool.

Appears in 1 contract

Samples: Credit and Security Agreement (CAB West LLC)

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Source for Payment; Limited Recourse. The 20 - 20__-__ Exchange Note will be payable solely from Collections on the Leases and Leased Vehicles allocated to the 20 - Reference PoolExchange Note Available Funds, the proceeds of the other Borrower Collateral and any Shared Amounts allocated to the 20 - 20__-__ Exchange Note under Section 5.1, in each case, according to the priorities in Section 5.1. For purposes of determining the Collections that are for the 20 - Reference Pool20__-__ Collections, the Leases and Leased Vehicles will be deemed to have been allocated to the 20 - 20__-__ Reference Pool from and after the related Cutoff Date. Recourse for the 20 - 20__-__ Exchange Noteholder will be limited to the 20 - 20__-__ Reference Pool.

Appears in 1 contract

Samples: Credit and Security Agreement (CAB East LLC)

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