LILO Contract definition

LILO Contract means any lease agreement or rental agreement and any master lease or master rental agreement with respect to LILO Cars (together will all schedules, supplements, and addenda relative to any of the foregoing) that evidences the payment obligations of any Seller to the owner or lessor of the LILO Cars, in each case as specifically set forth on Schedule 1.2 hereto.
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Examples of LILO Contract in a sentence

  • The Books and Records pertaining to each LILO Contract and LILO Sublease Contract are accurate and correct in all material respects.

  • No Seller is in material breach or material default under any LILO Contract or LILO Sublease Contract, no other party is in material breach or material default thereunder and no other event has occurred that, with written notice or lapse of time, would constitute a material breach or a material default by Sellers or, to Sellers’ Knowledge, any other party thereunder.

  • Sellers have made available to Purchaser true, correct and complete copies of each LILO Contract and LILO Sublease Contract, and all amendments or modifications thereto.

  • Each LILO Contract and LILO Sublease Contract is a "true lease" or an "operating lease" and not a financing lease, conditional sale or security agreement.

  • Each LILO Contract and LILO Sublease Contract (i) is in full force and effect, free and clear of Encumbrances other than Permitted Encumbrances and is not subject to any defense, offset, claim, right of rescission or counterclaim by any party thereto, and (ii) is valid, binding and enforceable in accordance with its terms, except as may be limited by the Bankruptcy Exception.

  • No LILO Contract or LILO Sublease Contract is subject to any debt subordination agreement, participation agreement, intercreditor agreement, owner trust agreement, purchase agreement, collateral sharing agreement, residual sharing agreement, remarketing agreement or vendor recourse agreement.