Required Beneficiaries definition

Required Beneficiaries means Noteholders holding in excess of 50% of the Group III Aggregate Invested Amount (excluding, for the purposes of making the foregoing calculation, any Notes held by DTAG or any Affiliate of DTAG (other than Dollar Thrifty Funding Corp.)).

Required Beneficiaries has the meaning given to it in the applicable Series Supplement.

Required Beneficiaries means, at any time, Beneficiaries (other than any Lessee Grantor, if applicable) that are beneficiaries in respect of, or that represent or act on behalf of Financing Sources (other than any Lessee Grantor, if applicable) that hold (including by way of pledge or assignment), more than 50% of the outstanding principal amount of indebtedness of the Lessee Grantors and RCFC under the Financing Documents at such time (excluding any retained interest of any such Lessee Grantor or RCFC thereunder).

Examples of Required Beneficiaries in a sentence

• If such Required Beneficiaries shall fail to make such appointment prior to the date such resignation, removal or other incapacity is effective, then the Security Trustee or any registered Beneficiary may request a court of competent jurisdiction to appoint such successor to act until such time, if any, as a successor shall have been appointed as provided above.

• In addition, the Security Trustee may be removed at any time without cause by an instrument or concurrent instruments signed by the Required Beneficiaries, or by their attorneys-in-fact thereunto duly authorized, and delivered to each Beneficiary.

• In connection with any request of the Required Beneficiaries, the Collateral Agent shall be fully protected in relying on a certificate of any Person, signed by an Authorized Representative of such Person, which certificate shall state that the Person signing such certificate is an Authorized Representative of such Person and shall state specifically the Company Document and provision thereof pursuant to which the Collateral Agent is being directed to act.

• Except with the prior written consent of the -------------- Collateral Agent and the Required Beneficiaries or as contemplated by this Agreement or the Operative Agreements, the Company will not sell or otherwise dispose of any of the Collateral or any interest therein or agree or attempt or purport to do so.

• No amendment or waiver of any provision of this Security Trustee Agreement shall in any event be effective unless the same shall be in writing and signed by the Required Beneficiaries and the Security Trustee and, in the case of any amendment or waiver of Section 10, acknowledged by the Obligor, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.

More Definitions of Required Beneficiaries

Required Beneficiaries means Noteholders holding in excess of 66 2/3% of the Group VII Aggregate Invested Amount (excluding, for the purposes of making the foregoing calculation, any Notes held by DTAG or any Affiliate of DTAG, except for any Affiliate that is a bankruptcy remote, special purpose vehicle if such Affiliate has assigned all voting, consent and control rights associated with such Series 2010-3 Notes to Persons that are not Affiliates of DTAG).

Required Beneficiaries has the meaning assigned thereto in the Collateral Agency Agreement.

Required Beneficiaries means General Electric Capital Corporation or its successors or assigns.

Required Beneficiaries means, with respect to the Group V Series of Notes, Noteholders holding in excess of 50% of the aggregate Invested Amount of all outstanding Group V Series of Notes, excluding, for purposes such calculation, any such Notes (or beneficial interests therein) held by Budget or any Affiliate thereof.

Required Beneficiaries means, at any time, Beneficiaries (excluding the ---------------------- Manager, the Administrator and the Insurance Manager and any Affiliate thereof) that at such time hold at least 66-2/3% of the Combined Exposure.

Required Beneficiaries means Noteholders holding in excess of 50% of the Group VIII Aggregate Invested Amount (excluding, for the purposes of making the foregoing calculation, any Notes held by DTAG or any Affiliate of DTAG, except for any Affiliate that is a bankruptcy remote, special purpose vehicle if such Affiliate has assigned all voting, consent and control rights associated with such Series 2011-1 Notes to Persons that are not Affiliates of DTAG).

Required Beneficiaries means, at any time, Beneficiaries (other than any Lessee Grantor, if applicable) that are beneficiaries in respect of, or that represent or act on behalf of Financing Sources (other than any Lessee Grantor, if applicable) that hold (including by way of pledge or assignment), more than 50% of the outstanding principal amount of indebtedness of the Lessee Grantors and RCFC under the Financing Documents at such time (excluding any retained interest of any such Lessee Grantor or RCFC thereunder). "Responsible Officer" means, with respect to the Master Collateral Agent, any Managing Director, Vice President, Assistant Vice President, Secretary, Assistant Secretary, Treasurer or Assistant Treasurer, or any officer performing functions similar to those customarily performed by the person who at the time shall be such officer. "Series 2005-1 Supplement" means that certain Series 2005-1 Supplement (as amended, restated, supplemented or otherwise modified from time to time), dated as of April 21, 2005, to Amended and Restated Base Indenture, dated as of February 14, 2007, between RCFC and DBTCA, as trustee. "Series 2006-1 Supplement" means that certain Series 2006-1 Supplement (as amended, restated, supplemented or otherwise modified from time to time), dated as of March 28, 2006, to Amended and Restated Base Indenture, dated as of February 14, 2007, between RCFC and DBTCA, as trustee. "Series 2007-1 Supplement" means that certain Series 2007-1 Supplement (as amended, restated, supplemented or otherwise modified from time to time), dated as of May 23, 2007, to Amended and Restated Base Indenture, dated as of February 14, 2007, between RCFC and DBTCA, as trustee. "Servicer" has the meaning set forth in the preamble. "Standard & Poor’s" means Standard & Poor’s, a division of The XxXxxx-Xxxx Companies, Inc. "Substitute Exchanged Vehicle Proceeds" means, for a Group, funds in the amount of the Net Book Value of Exchanged Vehicles transferred by RCFC, at the direction of the Master Servicer, from (i) the Substitute Exchanged Vehicle Proceeds Amount for such Group, (ii) the Retained Distribution Account or (iii) RCFC’s capital, and deposited into the Collection Account for such Group to be treated as Disposition Proceeds for such Exchanged Vehicles. "Substitute Exchanged Vehicle Proceeds Amount" means, for a Group, at any time, funds, if any, set aside by RCFC in an Excess Funding Account in respect of Exchanged Vehicles in such Group, for use as Substitute Exchanged Vehi...