Common use of Lease Portfolio Clause in Contracts

Lease Portfolio. In the case of accounts receivable pertaining to lease agreements, the aggregate amount of accounts receivable which are more than 90 days past due will not exceed five percent (5%) of the aggregate amount of all such accounts receivable. An account receivable pertaining to a lease agreement shall be deemed to be more than 90 days past due with respect to any individual agreement if it is 90 days past due as specified in the applicable agreement. For purposes of this calculation, leases that have been amended or otherwise modified or waived in order to cure any delinquency shall be deemed to be delinquent in their entireties.

Lease Portfolio. In the case of accounts receivable pertaining to lease agreements, the aggregate amount of accounts receivable which are more than 90 60 days past due will not exceed five percent (5%) of the aggregate amount of all such accounts receivable. An account receivable pertaining to a lease agreement shall be deemed to be more than 90 60 days past due with respect to any individual agreement if it is 90 60 days past due as specified in the applicable agreement. For purposes of this calculation, leases that have been amended or otherwise modified or waived in order to cure any delinquency shall be deemed to be delinquent in their entireties.