Used Vehicles. The Buyer shall have no obligation to purchase any vehicle from the Seller other than its obligation hereunder to purchase the New Vehicles and the Demonstrators. The Seller and the Buyer shall perform an inventory of the Seller's motor vehicles that are not New Vehicles or Demonstrators (including conversion vans or similar-type vehicles that have been in inventory longer than 180 days, rental cars and company vehicles) as of the Inventory Date and, in connection with such inventory, the Seller and the Buyer shall attempt to assign a mutually agreed price to each such vehicle owned by the Seller as of the Closing Date. Any such vehicles as to which the Seller and the Buyer are unable to agree upon a price shall not be purchased by the Buyer in connection herewith. Any such vehicles as to which the Seller and the Buyer shall agree upon a price are collectively referred to herein as the "USED VEHICLES," and shall be purchased by the Buyer, and sold by the Seller, at the Closing. The aggregate sum of all prices assigned to such Used Vehicles to be purchased by the Buyer pursuant to the terms of this Section 3.5 shall be referred to herein as the "USED VEHICLE PURCHASE PRICE."
Used Vehicles. Either concurrently with the execution and delivery of this Lease or after the date of this Lease on or prior to the applicable Vehicle Funding Date, any Lessee may request that the Lessor purchase a used Non-Program Vehicle (other than a Refinanced Vehicle) from a licensed independent automobile dealer, through an auction, from a manufacturer or pursuant to another vehicle sale (a “Used Vehicle”) for a purchase price equal to the Capitalized Cost of such Used Vehicle, in which event such Lessee shall, immediately upon the consummation of such sale, lease such Used Vehicle from the Lessor pursuant to this Lease (each such transaction is referred to as a “Used Vehicle Transaction”). In connection with each Used Vehicle Transaction, to evidence the conveyance of the Used Vehicles from the applicable seller to the Lessor, the applicable Lessee shall have obtained the original Certificate of Title for each Used Vehicle and shall prepare or obtain and, upon request of the Lessor, make available to the Lessor, the following:
(i) a Vehicle Order with respect to all Used Vehicles involved in such Used Vehicle Transaction; and
(ii) a xxxx of sale or other instrument of transfer customarily used in the wholesale motor vehicle resale market conveying title to the Used Vehicles to the Lessor, and copies of any certificate given by the related auction house, if any, regarding the absence of liens and/or the ownership of each such Used Vehicle. After any purchase of Used Vehicles by the Lessor under this Section 2.1(e), such Used Vehicles will be subject to all the terms and conditions of this Agreement. Promptly following such Used Vehicle Transaction, the applicable Lessee shall complete and deliver an application to retitle such Used Vehicle in the name of the Lessor and to have noted thereon the Master Collateral Agent’s security interest in such Used Vehicle pursuant to the Master Collateral Agency Agreement.
Used Vehicles. NewCo may accept contribution of all vehicles other than the New Vehicles, Demonstrators and Loaner Vehicles in Contributor’s vehicle inventory as of the Closing Date selected by Contributor at a mutually agreed upon values (collectively, “Used Vehicles”). If the Parties are unable to agree on the value of any Used Vehicle, then each such Used Vehicle will be excluded from the sale and removed from the Property within ten (10) days after the Closing.
Used Vehicles. Buyer may purchase all vehicles other than the New Vehicles in Seller’s vehicle inventory as of the Closing Date selected by Seller at a mutually agreed upon price (collectively, “Used Vehicles”). Notwithstanding any provision in this Agreement to the contrary, titled demonstrators and service loaners will be purchased for the reasonably depreciated net book value as of the Closing Date. If the Parties are unable to agree on the price of any Used Vehicle, then each such Used Vehicle will be excluded from the sale and removed from the Property within ten (10) days after the Closing.
Used Vehicles. As of the Cutoff Date, the Principal Balance of Loans to be conveyed by the Loan Seller on the Closing Date that are secured by Financed Vehicles that are used (rather than new) vehicles represent no more than [ ]% of the aggregate Principal Balance of the outstanding Loans.
Used Vehicles. Buyer may purchase all vehicles other than the New Vehicles in Sellers’ vehicle inventory as of the Closing Date at a mutually agreed upon price (collectively, “Used Vehicles”). If the Parties are unable to agree on the price of any Used Vehicle, then each such Used Vehicle will be excluded from the sale and removed from the Dealership Premises within thirty (30) days after the Closing. The Xxxx of Sale will contain a list and description of all Used Vehicles sold to Buyer.
Used Vehicles. An amount equal to the value of Used Vehicles included in the Purchased Assets, as agreed upon by Sellers’ Representative and Purchaser at or prior to Closing.
Used Vehicles. Buyer may purchase all vehicles other than the New Vehicles in Seller’s vehicle inventory as of the Closing Date selected by Seller at a mutually agreed upon price (collectively, “Used Vehicles”); provided that Buyer shall purchase Seller’s titled service loaners with 6,500 or fewer miles and in service for one (1) year or less at their depreciated net book value as long as they were entered at their actual net dealer cost and depreciated by at least 2% per month. If the Parties are unable to agree on the price of any Used Vehicle, then each such Used Vehicle will be excluded from the sale and removed from the Dealership Premises within ten (10) days after the Closing.
Used Vehicles. Principal curtailments (repayments) relating to Floor Plan Loans for Eligible Used Vehicles shall be due as follows:
(i) The entire balance owed on a Floor Plan Loan made as to any Eligible Used Vehicle shall be due upon the earliest of (A) three Business Days after the receipt of proceeds from the sale of a such Used Vehicle, (B) ten Business Days after the sale of such Used Vehicle, (C) 24 hours after such Used Vehicle ceases, for any reason, to qualify as an Eligible Used Vehicle, or (D) Applicable Curtailment Date 180;
(ii) For any Eligible Used Vehicle, if not previously sold or otherwise disposed of, 2% of the original principal amount of the Floor Plan Loan made as to such Used Vehicle will be due and payable on the 15th day of each month, commencing on (and including) Applicable Curtailment Date 90 and continuing thereafter through (and including) Applicable Curtailment Date 150.
Used Vehicles. The purchase price for each Used Vehicle shall be as mutually agreed upon by the Parties; PLUS
