Changes in Insurance Coverage. No changes shall be made in any of the foregoing insurance requirements unless the prior written consent of the Lessor, the Lender and the Trustee are first obtained. The Lessor may grant or withhold its consent to any proposed change in such insurance in its sole discretion. The Lender and the Trustee shall be required to grant their consent to any proposed change in such insurance upon compliance with the following conditions: (i) the applicable Lessee or the Finance Lease Guarantor shall deliver not less than thirty (30) days’ prior written notice of any proposed change in such insurance to the Lender and the Trustee; and (ii) the proposed change will satisfy the Rating Agency Confirmation Condition.
Appears in 2 contracts
Sources: Master Motor Vehicle Finance Lease Agreement, Master Motor Vehicle Finance Lease Agreement (Avis Budget Group, Inc.)
Changes in Insurance Coverage. No changes shall be made in any of the foregoing insurance requirements unless the prior written consent of the Lessor, the Lender and the Trustee are first obtained. The Lessor may grant or withhold its consent to any proposed change in such insurance in its sole discretion. The Lender and the Trustee shall be required to grant their consent to any proposed change in such insurance upon compliance with the following conditions:
(i) the applicable Lessee or the Finance Lease Guarantor shall deliver not less than thirty (30) days’ prior written notice of any proposed change in such insurance to the Lender and the Trustee; and
(ii) the proposed change will satisfy the Rating Agency Confirmation Condition.
Appears in 1 contract
Sources: Master Motor Vehicle Operating Lease Agreement (Cendant Corp)