Bankruptcy means, with respect to any Person, (A)if such Person (i) makes an assignment for the benefit of creditors, (ii) files a voluntary petition in bankruptcy, (iii) is adjudged a bankrupt or insolvent, or has entered against it an order for relief, in any bankruptcy or insolvency proceedings, (iv) files a petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, (v) files an answer or other pleading admitting or failing to contest the material allegations of a petition filed against it in any proceeding of this nature, or (vi) seeks, consents to or acquiesces in the appointment of a trustee, receiver or liquidator of the Person or of all or any substantial part of its properties, or (B) if 120 days after the commencement of any proceeding against the Person seeking reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, if the proceeding has not been dismissed, or if within 90 days after the appointment without such Persons consent or acquiescence of a trustee, receiver or liquidator of such Person or of all or any substantial part of its properties, the appointment is not vacated or stayed, or within 90 days after the expiration of any such stay, the appointment is not vacated. The foregoing definition of Bankruptcy is intended to replace and shall supersede and replace the definition of Bankruptcy set forth in Sections 18-101(1) and 18-304 of the Act.
Bankruptcy Code means the United States Bankruptcy Code, as set forth in Title 11 of the United States Code, as amended from time to time.
Beneficiaries means, with respect to (i) the Unallocated Assets Series, the Member, and (ii) any Series other than the Unallocated Assets Series, the Holder and any other Person or Persons designated as a Beneficiary of such Series in the related Series Supplement, in each case together with their permitted successors and assigns.
Business Day means a day other than a Saturday, a Sunday or other day on which commercial banks located in the states of Delaware, New York, Tennessee, Illinois or, with respect to any Series, any other location of a Servicer, indenture trustee or owner trustee for a Permitted Transaction, are authorized or obligated by law, executed order or governmental decree to be closed.
Cash Value means, with respect to any or all Titling Company Assets, as the context may require, on any date, the sum of all cash and the aggregate Adjusted Lease Balance of the Leases comprising such Titling Company Assets on such date.
Certificate or Series Certificate has the meaning specified in Section 4.1(a).
Certificate of Formation has the meaning set forth in the Recitals.
Certificate of Title means a certificate of title or other evidence of ownership (which may be in electronic form) of a Leased Vehicle issued by the Registrar of Titles in the jurisdiction in which such Leased Vehicle is registered.
Certificate Register means the register maintained pursuant to Section 5.4(a).
Class has the meaning specified in Section 4.1(b)(iii).
Code means the Internal Revenue Code of 1986, as amended from time to time.
Collections means, with respect to any Series Interest, except as otherwise provided in the related Servicing Agreement, all amounts received in respect of the related Series Assets, including all amounts collected from related Lessees on the related Leases, all amounts received with respect to the sale or other disposition of the related Leased Vehicles, all amounts received from Dealers with respect to the related Leases or Leased Vehicles and all Insurance Proceeds of any kind with respect to the related Lessees or Leased Vehicles.