Effect of Lease Event of Default Sample Clauses

Effect of Lease Event of Default. If (i) a Lease Event of Default described in Section 17.1.1(i), 17.1.2, 17.1.5 or 17.1.9 of this Lease shall occur, then the Monthly Base Rent, the Monthly Supplemental Payment and Casualty Payments (in each case calculated, with respect to Financed Vehicles, as if all such Financed Vehicles had become a Casualty for the Related Month), the Monthly Variable Rent, the Availability Payment and the Monthly Finance Rent (in each case calculated as if the full amount of interest, principal and other charges under all Outstanding Series of Notes included in the Group VII Series of Notes were then due and payable in full), Termination Payments and Late Return Payments shall, automatically, without further action by the Lessor or the Trustee, become immediately due and payable or (ii) any other Lease Event of Default shall occur, the Lessor or the Trustee may declare the Rent and all other charges and payments (calculated as described in clause (i) above) to be due and payable, whereupon such Rent and such other charges and payments (as so calculated) shall, subject to Section 17.5, become immediately due and payable.

Effect of Lease Event of Default. (a) If any Lease -------------------------------- Event of Default described in Section 15.1.5 hereof or any Liquidation Event -------------- shall occur, the rights of the Lessee to place Vehicle Orders pursuant to this of Default Agreement shall immediately terminate; (b) If any Lease Event of Default described in Section 15.1.5 hereof -------------- shall occur, then the Lessee shall return or deliver the Vehicles pursuant to the Lessor's instructions and the sum of (x) any past due Rent together with a --- late charge thereon pursuant to Section 5.4 hereof (to the extent permitted by ----------- law) plus (y) a Casualty Payment determined as of the date of such Lease ---- Default with respect to any Vehicle that the Lessee fails to return or deliver pursuant hereto (calculated as if all such Vehicles had become Casualties during the Related Month) plus (z) for all Vehicles that are returned or delivered, the ---- remaining payments of Rent (which would otherwise have become due for the period commencing on the date of the Lease Event of Default and ending on the Vehicle Lease Expiration Date) with respect thereto, assuming Variable Rent in an amount equal to the Variable Rent for the period immediately preceding the date of the Lease Event of Default, discounted to the date of payment at the rate of 5% per annum calculated on a monthly basis (to the extent permitted by law), minus the ----- fair net rental payments on such Vehicles, discounted to the date of payment at the rate of 5% per annum calculated on a monthly basis, for the period from the date of such Lease Event of Default and ending on the Vehicle Lease Expiration Date (determined as set forth in Section 15 of the Lease Annex), shall, without ---------- further action by the Lessor, become immediately due and payable; (c) If any other Lease Event of Default shall occur and be continuing, (i) the rights of the Lessee to place Vehicle Orders shall immediately terminate, (ii) the Lessee shall return or deliver the Vehicles pursuant to the Lessor's instructions, and (iii) the Lessor shall have the right to declare immediately due and payable the sum of (x) any past due Rent together with a --- late charge thereon pursuant to Section 5.4 hereof (to the extent -----------

Effect of Lease Event of Default. If (i) a Lease Event of Default described in Section 17.1.1, 17.1.2, 17.1.5, 17.1.7 or 17.1.8 shall occur, then the Monthly Base Rent, Casualty Payments, the Monthly Supplemental Payments (calculated as if all Financed Vehicles had become a Casualty for the Related Month), the Monthly Variable Rent and Monthly Finance Rent (calculated as if the full amount of interest, principal and other charges under all Outstanding Group II Series of Notes were then due and payable in full), the Monthly Supplemental Rent (calculated as if the full amount of interest, principal and other charges under all Outstanding Group II Series of Notes were then due and payable in full) shall, automatically, without further action by the Lessor or the Trustee, become immediately due and payable or (ii) any other Lease Event of Default or any Liquidation Event of Default shall occur, the Lessor or the Trustee may declare the Rent (calculated as described in clause (i) above) to be due and payable, whereupon such Rent (as so calculated) shall, subject to Section 17.5, become immediately due and payable.

Effect of Lease Event of Default. If (i) a Lease Event of Default described in Section 17.1.1, 17.1.2, 17.1.5, 17.1.6 (to the extent that all or a material portion of this Lease shall at any time and for any reason not be in full force and effect or be declared null and void), 17.1.7 or 17.1.8 shall occur, then the Monthly Base Rent, Casualty Payments, the Monthly Supplemental Payments (calculated as if all Financed Vehicles had become a Casualty for the Related Month), the Monthly Variable Rent and Monthly Finance Rent (calculated as if the full amount of interest, principal and other charges under all Outstanding Group IV Series of Notes were then due and payable in full), the Monthly Supplemental Rent (calculated as if the full amount of interest, principal and other charges under all Outstanding Group IV Series of Notes were then due and payable in full) and, with respect to Group IV Non-Repurchase Vehicles and Group IV Type II Repurchase Vehicles, the Additional Base Rent, if any, shall, automatically, without further action by the Lessor or the Trustee, become immediately due and payable or (ii) any other Lease Event of Default or any Limited Liquidation Event of Default, in each case, with respect to any outstanding Group IV Series of Notes shall occur, the Lessor or the Trustee (provided a Responsible Officer of the Trustee has actual knowledge or has received written notice of such Lease Event of Default or any Limited Liquidation Event of Default) may declare the Rent (calculated as described in clause (i) above) to be due and payable, whereupon such Rent (as so calculated) shall, subject to Section 17.5, become immediately due and payable.

Effect of Lease Event of Default. If any Lease Event of Default set forth in Sub-Clause 9.1.1, 9.1.2, 9.1.5, 9.1.6 or 9.1.8 (Events of Default) shall occur and be continuing, the Lessee’s right of possession with respect to any Lease Vehicles leased hereunder shall be subject to the Lessor’s option to terminate such right as set forth in Sub-Clause 9.3 (Rights of Lessor Upon Lease Event of Default) and 9.4 (Liquidation Event and Non-Performance of Certain Covenants).

Effect of Lease Event of Default. Upon the occurrence of any Lease Event of Default and at any time thereafter so long as the same shall be continuing, Lessor may, at its option, by notice to Lessee, declare this Lease to be in default (except that, upon the occurrence of a Lease Event of Default described in clause (h) or (i) of Article XIII, this Lease shall be deemed declared in default immediately without any further act or notice by Lessor). At any time thereafter, Lessor may do one or more of the following with respect to the Equipment as Lessor in its sole discretion shall elect, to the full extent permitted by Applicable Laws: (a) Lessor may, by notice to Lessee, terminate or cancel this Lease. (b) Lessor may demand that Lessee, and Lessee shall upon written demand of Lessor, at Lessee's risk and expense, return the Equipment to Lessor in the manner and condition required by Article VIII as if the Equipment were being returned at the Scheduled Expiration Date applicable to the Equipment, and Lessor shall not be liable for the reimbursement of Lessee for any costs and expenses incurred by Lessee in connection therewith. (c) Lessor may, at Lessee's expense, enter upon any location where the Equipment is located and take immediate possession of any or all of the Equipment or any part thereof (to the exclusion of Lessee) and remove the Equipment from the location without liability accruing to Lessor or its agent for or by reason of such entry or taking of possession or removal (whether for any damage to property, or the restoration in respect of such damage, caused by such taking or otherwise). (d) Lessor, with respect to any or all Equipment, by notice to Lessee specifying a payment date not earlier than ten days or more than 30 days from the date of such notice, may require Lessee to pay to Lessor and Lessee hereby agrees that it will pay to Lessor, on the payment date specified in such notice, as liquidated damages for loss of a bargain, and not as a penalty, and in lieu of any further payments of Basic Rent hereunder, an amount (reduced with respect to the Equipment by any amounts previously paid by Lessee pursuant to subparagraph (e) below with respect to the Equipment) equal to the sum of: (i) all Overdue Rent as of the Stipulated Loss Value Date next preceding such date for payment specified in such notice; plus (ii) an amount equal to the Stipulated Loss Value for all the Equipment calculated as of the Stipulated Loss Value Date next preceding the date for payment specified in ...

Effect of Lease Event of Default. Series 1997-1

Effect of Lease Event of Default. (a) If any Lease -------------------------------- Event of Default shall occur and be continuing, the rights of the Lessee to place Vehicle Orders pursuant to this Agreement (but not otherwise) shall immediately terminate; (b) if a Lease Event of Default described in Section ------- 15.1.1(i), 15.1.2 or 15.1.5, shall occur, the Lessor may declare all Rent for --------- ------ ------ the Lease Term to be due and payable, whereupon such Rent shall, subject to Section 15.4, become immediately due and payable and upon written demand by the ------------ Lessor, the Lessee shall return or deliver the Vehicles pursuant to the Lessor's instructions; and (c) if any other Lease Event of Default shall occur and be continuing for more than 90 days, the Lessor may declare the Rent for the Lease Term to be due and payable, whereupon such Rent shall, subject to Section 15.4, ------------ become immediately due and payable and upon written demand by the Lessor, the Lessee shall return or deliver the Vehicles pursuant to the Lessor's instructions.

Effect of Lease Event of Default. If (i) a Lease Event of Default described in Section 17.1.1(i), 17.1.2 or 17.1.5 shall occur, then the Monthly Base Rent, the Monthly Supplemental Payment and Casualty Payments (in each case calculated as if all Vehicles had become a Casualty for the Related Month), the Monthly Variable Rent, the Availability Payment