Sprint - Nextel 2015 Annual Report Download - page 305

“ Like-Kind Exchange ” means, with respect to a Customer Lease, an exchange of a Device pursuant to which the
replacement Device is a Type of Device that is currently an Approved Device that satisfies the Device Return Condition, is
the same Type (or a Type with a higher Device Residual Value) as the exchanged Device, and with respect to which the
scheduled Customer Receivables under the modified Customer Lease are not less in amount, frequency and number than
under the Customer Lease immediately prior to such modification;
“ Like-Kind Exchange Device ” means a replacement Device subject to a Like-Kind Exchange;
“ Logistics Services Provider ” has the meaning given to that term under the Servicing Agreement;
“ Material Adverse Effect ” means, with respect to any event or circumstance, a material adverse effect on:
(a) if a particular Person is specified, (i) the ability of such Person to perform its obligations under any Transaction
Document to which it is a party or (ii) if a particular Person is not specified, the ability of any Originator, Servicer,
any Lessee or Sprint to perform its obligations under the Transaction Document to which it is a party;
(b) (i) the validity or enforceability of any Sprint Transaction Document or (ii) the value, validity, enforceability or
collectability of any material portion of Lessee Collateral; or
(c) the status, existence, perfection, priority, enforceability or other rights and remedies of Collateral Agent or Lessor
associated in respect of its interest in Lessee Collateral;
“ Members ” has the meaning given to that term in the MLS LLC Agreement;
“ MLS Collection Account (Tranche 1) ” means the account notified by the Lessor in writing to Servicer, Lessees and
Collateral Agent;
“ MLS Intercreditor Agreement ” means the Amended and Restated Intercreditor Agreement (Tranche 1) dated as of the
date hereof and effective as of the Amendment Closing Date among the Lessee Representative, the Senior Agent, the Senior
Subordinated Loan Creditor, Lessor and the other parties thereto;
“ MLS LLC Agreement ” means the Second Amended and Restated Limited Liability Company Agreement of Mobile
Leasing Solutions, dated on or about the date hereof, between the Members;
“ MLS Security Documents ” has the meaning set forth in the MLS Intercreditor Agreement;