Common use of Used Vehicles Clause in Contracts

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. 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 Group IV Lessee may request that the Group IV Lessor purchase, or finance the Group IV Lessee's purchase of, a used Non-Program Vehicle (other than a Group IV Refinanced Vehicle) from a licensed independent automobile dealer, through an auction, from a manufacturer or pursuant to another vehicle sale (a “Used Vehicle”"USED VEHICLE") for a purchase price equal to the Capitalized Cost of such Used Vehicle, in which event such Group IV Lessee shall, immediately upon the consummation of such sale, lease such Used Vehicle from the Group IV Lessor pursuant to this Lease (each such transaction is referred to as a “Used Vehicle Transaction”"USED VEHICLE TRANSACTION"). In connection with each Used Vehicle Transaction, to evidence the conveyance of the Used Vehicles from the applicable seller to the LessorGroup IV Lessor (in the case of Group IV Acquired Vehicles and Company Vehicles) or the applicable Group IV Lessee (in the case of Group IV Financed Vehicles other than Company Vehicles), the applicable Group IV Lessee shall have obtained the original Certificate of Title for each Used Vehicle and shall prepare or obtain and, upon request of the Group IV Lessor, make available to the Group IV Lessor, the following: (i) a Vehicle Order with respect to all Used Vehicles involved in covered by such Used Vehicle Transaction; and (ii) a xxxx bill of sale or other instrument of transfer customarily used in xx the wholesale motor vehicle resale market market, conveying title to the Used Vehicles to the LessorVehicles, and copies of any certificate given by the related auction house, if any, house regarding the absence of liens and/or the ownership of each such Used Vehicle. After any purchase of Used Vehicles by the Group IV Lessor or a Group IV Lessee under this Section 2.1(eSECTION 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 Group IV Lessee shall complete and deliver an application to retitle such Used Vehicle in the name of the Group IV Lessor (in the case of Group IV Acquired Vehicles and Company Vehicles) or such Group IV Lessee (in the case of Group IV Financed Vehicles other than Company Vehicles) and to have noted thereon the Master Collateral Agent’s 's security interest in such Used Vehicle pursuant to the Master Collateral Agency Agreement.

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 Group IV Lessee may request that the Group IV Lessor purchase, or finance the Group IV Lessee's purchase of, a used Non-Program Vehicle (other than a Group IV Refinanced Vehicle) from a licensed independent automobile dealer, through an auction, from a manufacturer or pursuant to another vehicle sale (a “Used Vehicle”"USED VEHICLE") for a purchase price equal to the Capitalized Cost of such Used Vehicle, in which event such Group IV Lessee shall, immediately upon the consummation of such sale, lease such Used Vehicle from the Group IV Lessor pursuant to this Lease (each such transaction is referred to as a “Used Vehicle Transaction”"USED VEHICLE TRANSACTION"). In connection with each Used Vehicle Transaction, to evidence the conveyance of the Used Vehicles from the applicable seller to the LessorGroup IV Lessor (in the case of Group IV Acquired Vehicles and Company Vehicles) or the applicable Group IV Lessee (in the case of Group IV Financed Vehicles other than Company Vehicles), the applicable Group IV Lessee shall have obtained the original Certificate of Title for each Used Vehicle and shall prepare or obtain and, upon request of the Group IV Lessor, make available to the Group IV Lessor, the following: (i) a Vehicle Order with respect to all Used Vehicles involved in covered by such Used Vehicle Transaction; and (ii) a xxxx bill of sale or other instrument of transfer customarily customaxxxx used in the wholesale motor vehicle resale market market, conveying title to the Used Vehicles to the LessorVehicles, and copies of any certificate given by the related auction house, if any, house regarding the absence of liens and/or the ownership of each such Used Vehicle. After any purchase of Used Vehicles by the Group IV Lessor or a Group IV Lessee under this Section 2.1(eSECTION 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 Group IV Lessee shall complete and deliver an application to retitle such Used Vehicle in the name of the Group IV Lessor (in the case of Group IV Acquired Vehicles and Company Vehicles) or such Group IV Lessee (in the case of Group IV Financed Vehicles other than Company Vehicles) and to have noted thereon the Master Collateral Agent’s 's security interest in such Used Vehicle pursuant to the Master Collateral Agency Agreement.

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, or finance the Lessee's purchase of, 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 LessorLessor (in the case of Acquired Vehicles and Company Vehicles) or the applicable Lessee (in the case of Financed Vehicles other than Company Vehicles), 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 covered by such Used Vehicle Transaction; and (ii) a xxxx of bill xx sale or other instrument of transfer customarily used in the wholesale motor vehicle resale market market, conveying title to the Used Vehicles to the LessorVehicles, and copies of any certificate given by the related auction house, if any, house regarding the absence of liens and/or the ownership of each such Used Vehicle. After any purchase of Used Vehicles by the Lessor or a Lessee 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 (in the case of Acquired Vehicles and Company Vehicles) or such Lessee (in the case of Financed Vehicles other than Company Vehicles) and to have noted thereon the Master Collateral Agent’s 's security interest in such Used Vehicle pursuant to the Master Collateral Agency Agreement.