Ineligible Vehicle definition

Ineligible Vehicle means, as of any date of determination, a Vehicle that is owned by a FleetCo and leased by such FleetCo to any Lessee pursuant to the applicable Master Lease that is not an Eligible Vehicle as of such date.

Ineligible Vehicle means, as of any date of determination, a passenger automobile, van or light-duty truck that is owned by RCFC and leased by RCFC to any Lessee pursuant to the Series 2010-3 Lease that is not a Series 2010-3 Eligible Vehicle as of such date.

Ineligible Vehicle means, as of any date of determination, a passenger automobile, van or light-duty truck that is owned by HVF and leased by HVF to any Lessee pursuant to the Series 2013-G1 Lease that is not a Series 2013-G1 Eligible Vehicle as of such date.

Examples of Ineligible Vehicle in a sentence

• On the second day of each calendar month, each Lessee shall deliver to the Servicer a list containing each Lease Vehicle leased by such Lessee that suffered a Casualty or became an Ineligible Vehicle in the preceding calendar month (each such list, a “Monthly Casualty Report”).

• On the Disposition Date with respect to each Lease Vehicle that suffers a Casualty or becomes an Ineligible Vehicle, (i) the Lessor shall cause title to such Lease Vehicle to be transferred to or at the direction of the Lessee of such Lease Vehicle and (ii) such Lessee shall be entitled to any physical damage insurance proceeds applicable to such Lease Vehicle.

• If a Vehicle becomes a Standard Casualty or an Ineligible Vehicle, then the Lessee of such Vehicle will (i) promptly notify the Lessor thereof and (ii) promptly, but in no event later than the Payment Date with respect to the Related Month during which such Vehicle became a Standard Casualty or an Ineligible Vehicle, pay to the Lessor the Termination Value of such Vehicle (as of the date such Vehicle became a Standard Casualty or an Ineligible Vehicle).

• Residents are prohibited from using marijuana (even in a smokeless manner).

More Definitions of Ineligible Vehicle

Ineligible Vehicle means an HVF Vehicle that is not an Eligible Vehicle.

Ineligible Vehicle means a Vehicle that is not an Eligible Vehicle.

Ineligible Vehicle means a ZVF Vehicle that is not an Eligible Vehicle.

Ineligible Vehicle means, as of any date of determination, an HVIF Vehicle that is not an Eligible Vehicle as of such date.

Ineligible Vehicle means, as of any date of determination, a Vehicle that is owned by a FleetCo and leased by such FleetCo to any Lessee pursuant to the applicable Master Lease that is not an Eligible Vehicle as of such date. “Initial Counterparty Required Ratings” means, with respect to any entity, rating requirements that are satisfied if such entity has a long-term rating of at least “A” by DBRS (or, if such entity is not rated by DBRS, “A2” by Xxxxx’x or “A” by S&P). “Initially Estimated Depreciation Charge” means, with respect to any Lease Vehicle that is a Program Vehicle, as of any date of determination during the Estimation Period for such Lease Vehicle, the monthly depreciation charge (expressed as a monthly Euro amount), if any, for such Lease Vehicle reasonably estimated by the applicable FleetCo (or its designee) as of such date. “In-Service Date” means (i) in relation to a Program Vehicle, the date on which depreciation commences with regard to such Vehicle in accordance with the terms of the relevant Manufacturer Program and (ii) in relation to a Non-Program Vehicle, the date on which such Vehicle is first available to be placed in service under the terms of the applicable Master Lease. “Insolvency Official” means, in relation to a relevant entity, a liquidator, provisional liquidator, administrator, insolvency administrator, preliminary insolvency administrator, administrative receiver, receiver, examiner or manager, compulsory or interim manager, nominee, supervisor, trustee, conservator, guardian or other similar officer in respect of such entity or in respect of any arrangement, compromise or composition with any creditors or any equivalent or analogous officer under the law of any jurisdiction. “Inspection Period” has the meaning specified in Clause 2.1(d) of each Master Lease. 48

Ineligible Vehicle means, as of any date of determination, an Vehicle that is not an Eligible Vehicle as of such date.

Ineligible Vehicle means any Permitted Vehicle, other than any Exempt Vehicle, Mass Transit Vehicle and Commuter Bus, or school bus, that consists of any of the following: