Common use of 020 Definitions Clause in Contracts

020 Definitions. As used in this chapter, unless the context otherwise requires: (1) The term "adjusted capitalized cost" means the agreed-upon amount that serves as the basis for determining the periodic lease payment, computed by subtracting from the gross capitalized cost any capitalized cost reduction. (2) The term "gross capitalized cost" means the amount ascribed by the lessor to the vehicle including optional equip- ment, plus taxes, title, license fees, lease acquisition and administrative fees, insurance premiums, warranty charges, and any other product, service, or amount amortized in the lease. However, any definition of gross capitalized cost adopted by the federal reserve board to be used in the context of mandatory disclosure of the gross capitalized cost to les- sees in consumer motor vehicle lease transactions supersedes the definition of gross capitalized cost in this subsection. (3) The term "capitalized cost reduction" means any pay- ment made by cash, check, or similar means, any manufac- turer rebate, and net trade in allowance granted by the lessor at the inception of the lease for the purpose of reducing the gross capitalized cost but does not include any periodic lease

020 Definitions. As used in this chapter, unless the context otherwise requires: (1) The term "adjusted capitalized cost" means the agreed-upon amount that serves as the basis for determining the periodic lease payment, computed by subtracting from the gross capitalized cost any capitalized cost reduction. (2) The term "gross capitalized cost" means the amount ascribed by the lessor to the vehicle including optional equip- ment, plus taxes, title, license fees, lease acquisition and administrative fees, insurance premiums, warranty charges, and any other product, service, or amount amortized in the lease. However, any definition of gross capitalized cost adopted by the federal reserve board to be used in the context of mandatory disclosure of the gross capitalized cost to les- sees in consumer motor vehicle lease transactions supersedes the definition of gross capitalized cost in this subsection. (3) The term "capitalized cost reduction" means any pay- ment made by cash, check, or similar means, any manufac- turer rebate, and net trade in allowance granted by the lessor at the inception of the lease for the purpose of reducing the gross capitalized cost but does not include any periodic leaselease (2020 Ed.) [Title 63 RCW—page 1]

020 Definitions. As used in this chapter, unless the context otherwise requires: (1) The term "adjusted capitalized cost" means the agreed-upon amount that serves as the basis for determining the periodic lease payment, computed by subtracting from the gross capitalized cost any capitalized cost reduction. (2) The term "gross capitalized cost" means the amount ascribed by the lessor to the vehicle including optional equip- ment, plus taxes, title, license fees, lease acquisition and administrative fees, insurance premiums, warranty charges, and any other product, service, or amount amortized in the lease. However, any definition of gross capitalized cost adopted by the federal reserve board to be used in the context of mandatory disclosure of the gross capitalized cost to les- sees in consumer motor vehicle lease transactions supersedes the definition of gross capitalized cost in this subsection. (3) The term "capitalized cost reduction" means any pay- ment made by cash, check, or similar means, any manufac- turer rebate, and net trade in allowance granted by the lessor at the inception of the lease for the purpose of reducing the gross capitalized cost but does not include any periodic leaselease (2019 Ed.) [Title 63 RCW—page 1]

020 Definitions. As used in this chapter, unless the context otherwise requires: (1) The term "adjusted capitalized cost" means the agreed-upon amount that serves as the basis for determining the periodic lease payment, computed by subtracting from the gross capitalized cost any capitalized cost reduction. (2) The term "gross capitalized cost" means the amount ascribed by the lessor to the vehicle including optional equip- ment, plus taxes, title, license fees, lease acquisition and administrative fees, insurance premiums, warranty charges, and any other product, service, or amount amortized in the lease. However, any definition of gross capitalized cost adopted by the federal reserve board to be used in the context of mandatory disclosure of the gross capitalized cost to les- sees in consumer motor vehicle lease transactions supersedes the definition of gross capitalized cost in this subsection. (3) The term "capitalized cost reduction" means any pay- ment made by cash, check, or similar means, any manufac- turer rebate, and net trade in allowance granted by the lessor at the inception of the lease for the purpose of reducing the gross capitalized cost but does not include any periodic leaselease payments due at the inception of the lease or all of the peri-

020 Definitions. As used in this chapter, unless the context otherwise requires: (1) The term "adjusted capitalized cost" means the agreed-upon amount that serves as the basis for determining the periodic lease payment, computed by subtracting from the gross capitalized cost any capitalized cost reduction. (2) The term "gross capitalized cost" means the amount ascribed by the lessor to the vehicle including optional equip- ment, plus taxes, title, license fees, lease acquisition and administrative fees, insurance premiums, warranty charges, and any other product, service, or amount amortized in the lease. However, any definition of gross capitalized cost adopted by the federal reserve board to be used in the context of mandatory disclosure of the gross capitalized cost to les- sees in consumer motor vehicle lease transactions supersedes the definition of gross capitalized cost in this subsection. (3) The term "capitalized cost reduction" means any pay- ment made by cash, check, or similar means, any manufac- turer rebate, and net trade in allowance granted by the lessor at the inception of the lease for the purpose of reducing the gross capitalized cost but does not include any periodic leaselease (2021 Ed.) [Title 63 RCW—page 1]