Rental Assets definition
Examples of Rental Assets in a sentence
For the avoidance of doubt, the Manager shall not be entitled to any compensation, fee or penalty as a result of the sale and liquidation of Single-Family Rental Assets or any other assets and investments that are related or subject to an Abandonment Decision sold by Residential or any of the Subsidiaries in connection with an Abandonment Decision (other than, for the avoidance of doubt, the Base Fee, Incentive Fee and Conversion Fees payable pursuant to this Agreement).
In the event the Agreement is terminated prior to expiration of the term, ownership of the Long-Term Equipment Rental Assets assigned to Reseller on the Effective Date pursuant to Section 2.1 and identified on Exhibit C shall revert back to Operator and any equipment held by Reseller shall be returned to Operator within thirty (30) days in the same condition as at assignment, normal wear and tear excluded.
In the event [*], Operator understands that the Long-Term Equipment Rental Assets may have been replaced with different equipment.
Upon the occurrence of an Abandonment Decision and unless the Board of Directors decides, in its absolute discretion, to turn over to a third person the responsibility of selling the Single-Family Rental Assets, the Manager shall liquidate the Single-Family Rental Assets or any other assets and investments that are related or subject to the Abandonment Decision, as applicable, in a prompt and orderly manner intended to achieve the maximum value for such assets and investments.
Except as set forth on Schedule 3.10(b), all Rental Assets are Rental Ready.
The Group owns the Assets (other than the Rental Assets) free from any Third Party Interests and so far as the Seller is aware, there are no matters that could result in the creation of any Third Party Interests.
Annexures B, C, D, and E set out true and correct particulars of the material terms of which the Sellers are aware of all the Rental Contracts, including, where applicable, the amount of all rent or lease payments required to be paid thereunder, the term thereof and the amount required to be paid (if applicable) to enable ▇▇▇▇ ▇▇▇▇ or the ▇▇▇▇ ▇▇▇▇ Companies to obtain title to the Rental Assets, free and clear of any Third Party Interests.
The Companies agree to use all commercially reasonable efforts to ensure that each rental and/or lease agreement used in connection with the lease or rent of the Rental Assets to their customers contains provisions permitting the Companies to assign their rights and obligations thereunder to Administrative Agent on behalf of the Creditors and does not contain provisions that allow such customers to terminate their obligations thereunder upon any actual or threatened insolvency of any Company.
Each Tangible Asset (other than Rental Assets) is in good repair and good operating condition, ordinary wear and tear excepted, is suitable for immediate use in the Ordinary Course of Business and is free from latent and patent defects.
The original Long-Term Equipment Rental Assets are planned to be sold to recover some costs associated with [*].