Financing Lease Commitment Clause Samples

Financing Lease Commitment. Subject to the terms and conditions of the Financing Lease, upon execution and delivery of the Financing Lease, the Lessor shall (i) on or after the Lease Commencement Date and prior to the Lease Expiration Date purchase, finance or refinance Financed Vehicles and other Refinanced Vehicles identified in Refinancing Schedules for a purchase price equal to the aggregate Net Book Value thereof, and (ii) from time to time on or after the Lease Commencement Date and prior to the Lease Expiration Date purchase all other Financed Vehicles identified in Group III Vehicle Orders placed by the Lessees for a purchase price equal to the Capitalized Cost thereof, and in each case simultaneously therewith enter into this Financing Lease with the Lessees with respect to the Financed Vehicles, as the case may be; provided, that the aggregate outstanding Base Amount of the Financing Lease shall not on any date exceed (a) the Maximum Lease Commitment, less (b) the sum of (x) the sum of the Net Book Values of Lessor-Owned Vehicles leased under the Operating Lease on such date, each such Net Book Value calculated as of the first day contained within both the calendar month in which such date of determination occurs and the Vehicle Term for the related Lessor-Owned Vehicle, plus (y) accrued and unpaid Monthly Base Rent under the Operating Lease as of such date.

Financing Lease Commitment. Subject to the terms and conditions of the Financing Lease, upon execution and delivery of the Financing Lease, the Lessor shall from time to time on or after the Lease Commencement Date and prior to the Lease Expiration Date (i) refinance all Refinanced Vehicles and Eligible Receivables to be leased under this Financing Lease and identified in Refinanced Vehicle Schedules for a refinancing payment amount equal to the sum of (x) the aggregate Net Book Value of such Refinanced Vehicles and (y) the aggregate face amount of such Eligible Receivables, and (ii) finance the purchase of all other Financed Vehicles identified in Vehicle Orders placed by each Lessee for a purchase price equal to the Capitalized Cost thereof, and in each case simultaneously therewith enter into the Financing Lease with the applicable Lessee with respect to such Refinanced Vehicles and other Financed Vehicles, as the case may be.

Financing Lease Commitment. Subject to the terms and conditions of the Financing Lease, upon execution and delivery of the Financing Lease, the Lessor shall (i) on the Lease Commencement Date refinance the Refinanced Vehicles in an amount equal to the aggregate Net Book Value thereof, and (ii) from time to time on or after the Lease Commencement Date and prior to the Lease Expiration Date finance the purchase of all other Financed Vehicles identified in Vehicle Orders placed by each Lessee for a purchase price equal to the Capitalized Cost thereof, and in each case simultaneously therewith enter into the Financing Lease with the applicable Lessee with respect to the Refinanced Vehicles and other Financed Vehicles, as the case may be; provided, that the aggregate Net Book Value of Financed Vehicles leased under this Financing Lease, plus past due Monthly Base Rent under this Financing Lease, shall not on any date exceed the Maximum Lease Commitment reduced by (a) the Base Amount as of such date with respect to the Operating Lease and (b) the Base Amount as of such date with respect to the Synthetic Lease.

Financing Lease Commitment. Subject to the terms and conditions of the Financing Lease, upon execution and delivery of the Financing Lease, the Lessor shall (i) on or after the Lease Commencement Date and prior to the Lease Expiration Date purchase, finance or refinance Financed Vehicles in the Initial Fleet and other Refinanced Vehicles identified in Refinancing Schedules for a purchase price equal to the aggregate Net Book Value thereof, and (ii) from time to time on or after the Lease Commencement Date and prior to the Lease Expiration Date purchase all other Financed Vehicles identified in Group II Vehicle Orders placed by the Lessees for a purchase price equal to the Capitalized Cost thereof, and in each case simultaneously therewith enter into this Financing Lease with the Lessees with respect to the Financed Vehicles, as the case may be; provided, that the aggregate outstanding Base Amount of the Financing Lease shall not on any date exceed (a) the Maximum Lease Commitment, less (b) the sum of (x) the sum of the Net Book Values of Lessor-Owned Vehicles leased under the Operating Lease on such date, each such Net Book Value calculated as of the first day contained within both the calendar month in which such date of determination occurs and the Vehicle Term for the related Lessor-Owned Vehicle, plus (y) accrued and unpaid Monthly Base Rent under the Operating Lease as of such date.