Leased Vehicles. Each Leased Vehicle purchased by the Seller is a new automobile or light duty truck.
Leased Vehicles. If a bus is operated by a person other than the owner as a part of a fleet that is subject to this Article, then the operator of such fleet must be deemed to be the owner of said bus for the purposes of this Article. [PL 0000, x. 000, Xx. X, §0 (NEW); PL 1993, c. 683, Pt. B, §5 (AFF).]
Leased Vehicles. Seller shall pay the remaining balances on any --------------- capital leases for motor vehicles and deliver title to such Personal Property to Buyer at Closing free and clear of all Liens.
Leased Vehicles. The Lessor hereby leases to the Lessee the vehicle(s) described in Exhibit 1 attached herewith and made a part hereof (hereinafter referred to as vehicle(s) upon the conditions and covenants set forth below). The vehicles shall be operated by the Lessee to serve the best interest and welfare of the Lessor and the public. The vehicles shall be maintained and operated in a manner that will provide the maximum amount of safety and protection to the Lessee's employees and passengers. The Lessee shall adhere to all drivers' license requirements set forth by the State and Federal governments. (Commercial Driver's License is required for all vehicles with a capacity of 16 or more passengers, including the driver). The Lessee will be responsible for all fees incurred for the registration (license tag) of the vehicle; form MVR 330, Transfer of Registration, will need to be completed and filed with the N.C. Division of Motor Vehicles (NCDMV). The Lessee shall utilize the Lessor's equipment in accordance with the procedures and guidelines set forth in FTA Circulars 5010.1D, dated November 1, 2008 and 9040.1F, dated April 1, 2007, or any subsequent revisions or amendments thereto, the Lessor description set forth in the Lessor's application and the Transportation Development Plan (TDP), Community Transportation Service Plan (CTSP) or Community Transportation Improvement Plan (CTIP) for County. The Lessee shall not sublease the Lessor's equipment to another entity without the expressed written consent of the Lessor and the NCDOT/ Public Transportation Division (PTD).
Leased Vehicles. The Corporation may settle claims arising from the operation of a vehicle leased or rented under a written agreement of more than one month directly with the owner and lessee of the vehicle, as their interests appear.
Leased Vehicles. A lessor of vehicles that is regularly engaged in the business of leasing or renting motor vehicles with- out drivers may be issued a license.
Leased Vehicles. To the extent the Seller is unable to assign the Leases related to the Leased Vehicles, the Purchaser shall have the option, at the Closing, to purchase each Leased Vehicle from the respective lessor of such Leased Vehicle for the applicable Buy-Out Amount. Upon such purchase, such lessor shall release the Seller, in form and substance reasonably satisfactory to the Seller, from all obligations with respect to the Leased Vehicles. Section 5.13 of the Disclosure Schedule sets forth, to the Seller’s Knowledge, the respective lessor’s estimated Buy-Out Amount for each Leased Vehicle as of a date on or about the applicable dates set forth in Section 5.13 of the Disclosure Schedule, subject to adjustments in connection with, among other things, final vehicle mileage determinations, applicable taxes and additional lease payments. All costs and expenses in connection with the actions described in this Section 5.13 (including payment of the applicable Buy-Out Amounts) shall be borne by the Purchaser.
Leased Vehicles. Seller shall pay to the lessors the --------------- outstanding balances owed on all vehicle leases for the vehicles to be sold to Buyer hereunder, and shall transfer title to said vehicles to Buyer free and clear of all liens and encumbrances.
Leased Vehicles. Employees who are provided with a vehicle for the performance of their duties will be provided with credit cards for the purchase of gasoline and oil/changes only. Maintenance/Gas cards are not to be used for vacation purposes. The present policy pertaining to the use of such leased vehicles will be maintained. The employer agrees to cover the GST on any repairs to damage of leased vehicles however caused. Present employees will be grandparented. After March 31, 2006, those on lease cars can remain on leases until they retire, leave or go on car allowance. Directors on car allowance will no longer have the leasing option after March 31, 2006. New hires shall only receive car allowance. Car Allowance All those in the bargaining unit receiving a car allowance shall receive $725.00 per month. The employer will provide reimbursement for auto insurance and license plates. Those receiving a car allowance will be provided with credit cards for the purchase of gasoline, and are also entitled to reimbursement for oil changes once every 5,000 kilometres or six month period, whichever occurs first. Maintenance/Gas cards are not to be used for vacation purposes.
Leased Vehicles. The maximum amount that will be awarded for a leased vehicle is the following: To the Lessor: • Pay-off amount due to obtain title to the vehicle pursuant to the lease agreement (not including any early termination fees or disposition fees): – MINUS the security deposit held by lessor, – MINUS any debt from a previous transaction (negative equity), AND – MINUS any refund due for the unexpired portion of a service contract and/or insurance policy included in the lease contract. To the Lessee: • Base monthly payments paid pursuant to the lease agreement until time of repurchase (not including any portion of the payment for taxes, registration fees, charges for a service contract or insurance, or lease/finance charges): + PLUS the security deposit; + PLUS the trade-in allowance/down-payment Replacement The arbitrator may award a replacement vehicle that is new and is substantially identical to the current vehicle (excluding any modifications or additions after the vehicle’s purchase or lease). The Manufacturer’s Suggested Retail Price (“M.S.R.P.”) of the replacement vehicle may not exceed 105% of the M.S.R.P. of the current vehicle.
