Mandatory Program Vehicle to Non Clause Samples
The 'Mandatory Program Vehicle to Non' clause requires that certain vehicles, which are part of a specified program, must be transferred or made available to parties outside of that program under defined circumstances. In practice, this might mean that vehicles initially designated for a particular fleet or usage must be sold, leased, or otherwise provided to non-program participants once certain conditions are met, such as the end of a lease term or program completion. This clause ensures that vehicles are efficiently reallocated and prevents them from remaining unused or restricted within the original program, thereby maximizing asset utilization and market availability.
Mandatory Program Vehicle to Non. Program Vehicle Redesignations) after designating such Lease Vehicle as a Program Vehicle.
Mandatory Program Vehicle to Non. Program Vehicle Redesignation), comply with any obligation to return vehicles to the Manufacturer in accordance with the relevant Manufacturer Program; and
Mandatory Program Vehicle to Non. Program Vehicle Redesignations), such redesignation shall occur as of the first calendar day of the calendar month following the date on which the applicable event or condition described in Clause 2.6.1
Mandatory Program Vehicle to Non. Program Vehicle Redesignations) and without limitation thereto, with respect to any Lease Vehicle that is a Program Vehicle leased by any Lessee hereunder as of any date of determination, such Lessee may redesignate such Lease Vehicle as a Non-Program Vehicle upon written notice to the Lessor (which written notice may be delivered electronically and may be delivered directly by such Lessee or on its behalf by any agent or designee of such Lessee), provided that such Lessee shall not redesignate any Program Vehicle as a Non-Program Vehicle pursuant to this Clause 2.6.2 if, after giving effect to such redesignation, an Aggregate Asset Amount Deficiency would exist, unless such redesignation would decrease the amount of such Aggregate Asset Amount Deficiency.