Finance Lease Value Sample Clauses
The 'Finance Lease Value' clause defines the monetary worth assigned to an asset under a finance lease agreement. Typically, this value is calculated based on the total payments due over the lease term or the fair market value of the leased asset, and it may be used to determine insurance coverage, liability, or buyout amounts. By clearly establishing the asset's value for the purposes of the lease, this clause ensures both parties have a mutual understanding of financial obligations and helps prevent disputes regarding compensation or risk allocation during the lease period.
Finance Lease Value. As of any date of determination, with respect to any Eligible Direct Finance Lease, an amount in dollars equal to the net present value of the remaining contractual rental payments that will become payable by the related lessee under such Direct Finance Lease after such date of determination, discounted monthly at one-twelfth of the applicable Direct Finance Lease Rate; provided, however, that if an event of default by the related Lessee is then continuing, the Finance Lease Value shall be reduced by the amount of any bad debt expense or charge recorded by the Borrower with respect to such Direct Finance Lease.
Finance Lease Value. With respect to each Finance Lease as of any date of determination, an amount in Dollars equal to the present value of the remaining Contract Payments becoming due under such Finance Lease after such date of determination, discounted monthly at one-twelfth of (x) for the Finance Leases owned by the Borrower on the Restatement Date, nine percent (9%) per annum and (y) for the Finance Leases acquired by the Borrower after the Restatement Date, the greater of (a) nine percent (9%) and (b) the sum of (I) the fixed rate payable under the Interest Rate Hedge Agreement related to such Finance Lease and (II) four percent (4%); provided, however, that (i) the Finance Lease Value of any Defaulted Lease or a Finance Lease that is repurchased or required to be repurchased by the Seller or the Servicer shall be equal to zero, and (ii) with respect to any Contract Payment that remains unpaid for more than 60 days after its contractual due date, such Contract Payment shall be deemed to be zero for purposes of calculating the Finance Lease Value of such Finance Lease.
Finance Lease Value. With respect to each Finance Lease as of any date of determination, an amount in Dollars equal to the present value of the remaining Contract Payments becoming due under such Finance Lease after such date of determination, discounted monthly at one-twelfth of the then applicable Discount Rate; provided, however, that (i) the Finance Lease Value of any Defaulted Lease or a Finance Lease that is repurchased or required to be repurchased by the Seller or the Servicer shall be equal to zero, and (ii) with respect to any Contract Payment that remains unpaid for more than 60 days after its contractual due date, such Contract Payment shall be deemed to be zero for purposes of calculating the Finance Lease Value of such Finance Lease.