Monthly Variable Rent Sample Clauses

Monthly Variable Rent. On each Due Date, each Lessee shall pay to the Lessor the Monthly Variable Rents that have accrued during the Related Month with respect to all Vehicles that were leased by such Lessee under this Operating Lease on any day during the Related Month;

Monthly Variable Rent. The “Monthly Variable Rent” for each Payment Date and each Lease Vehicle other than a Lease Vehicle which was a Credit Vehicle on the last day of the Related Month with respect to such Payment Date (w) leased hereunder as of the last day of the Related Month with respect to such Payment Date, (x) the Disposition Date in respect of which occurred during such Related Month, or (y) that was purchased by the applicable Lessee during such Related Month, in each case shall equal to the product of: (i) the sum of: (A) all interest that has accrued on the French Advances during the Interest Period for the French Advances ending on the second Business Day immediately preceding the Determination Date immediately preceding such Payment Date, plus (B) all French Carrying Charges with respect to such Payment Date, and (ii) the quotient (the “VR Quotient”) obtained by dividing: (A) the Net Book Value of such Lease Vehicle as of the last day of such Related Month (or, if earlier, the Disposition Date with respect to such Lease Vehicle) by (B) the aggregate Net Book Values as of the last day of such Related Month (or, in any such case, if earlier, the Disposition Date of such Lease Vehicle) of all such Lease Vehicles leased by the Lessor to the Lessees.

Monthly Variable Rent. The “Monthly Variable Rent” for each Payment Date and each Lease Vehicle (w) leased hereunder as of the last day of the Related Month with respect to such Payment Date, (x) the Disposition Date in respect of which occurred during such Related Month, (y) that became a Reallocated Vehicle during such Related Month or (z) that was purchased by the applicable Lessee during such Related Month, in each case shall equal the sum of:

Monthly Variable Rent. The “Monthly Variable Rent” for each Payment Date and each Lease Vehicle other than a Lease Vehicle which was a Credit Vehicle on the last day of the Related Month with respect to such Payment Date (w) leased hereunder as of the last day of the Related Month with respect to such Payment Date, (x) the Disposition Date in respect of which occurred during such Related Month, or (y) that was purchased by the applicable Lessee during such Related Month, in each case shall equal: (a) the product of: (i) the sum of: (A) all interest that has accrued on the German Note during the Interest Period for the German Note ending on the second Business Day immediately preceding the Determination Date immediately preceding such Payment Date, plus (B) all German Carrying Charges with respect to such Payment Date, and (ii) the quotient (the “VR Quotient”) obtained by dividing: (A) the Net Book Value of such Lease Vehicle as of the last day of such Related Month (or, if earlier, the Disposition Date with respect to such Lease Vehicle) by (B) the aggregate Net Book Value as of the last day of such Related Month (or, in any such case, if earlier, the Disposition Date of such Lease Vehicle) of all such Lease Vehicles leased by the Lessor to the Lessees. (b) The total amount of Base Rent and Monthly Variable Rent payable by the Lessee to the Lessor on each Payment Date shall be adjusted by an amount (positive or negative) as reasonably determined by the Servicer to result in the net income and gains, of the Lessor for the Related Month, calculated in accordance with GAAP, taking into account, inter alia, (i) all interest expenses and other expenses of such Lessor (including, for the avoidance of doubt, such interest and other expenses paid and accrued but not yet paid) (in accordance with GAAP) and (ii) any losses or gains realised as of the last day of the Related Month in respect of the disposal of Non-Program Vehicles by (or on behalf of) the Lessor during such Related Month being equal to one twelfth of the German Minimum Profit Amount (the “Rental Adjustment”) provided that the Rental Adjustment shall not result in the total amount of Base Rent and Monthly Variable Rent being reduced below such amount as is required by the Lessor to make any payments to third parties (including without limitation in respect of interest and other amounts payable to the German Noteholder under the German Note) on such Payment Date.

Monthly Variable Rent. The “Monthly Variable Rent” for each Payment Date and each ZVF Vehicle shall equal the sum of (1) the product of (a) an amount equal to the sum of (i) all interest accruing on each Series of Notes Outstanding during the Interest Period for such Series of Notes ending on such Payment Date or on a date immediately preceding such Payment Date and (ii) all Carrying Charges for such Payment Date multiplied by (b) the quotient obtained by dividing (i) the Net Book Value as of the last day of the Related Month (or, if earlier, the Disposition Date) of such ZVF Vehicle by (ii) the aggregate Net Book Values as of the last day of the Related Month (or, if earlier, the applicable Disposition Dates) of all ZVF Vehicles leased hereunder during the Related Month plus (2) 4.00% per annum, payable at one-twelfth the annual rate, of the Net Book Value of such ZVF Vehicle as of the last day of the Related Month (or, if later, as of the Vehicle Operating Lease Commencement Date of such ZVF Vehicle).

Monthly Variable Rent. On each Payment Date, after giving credit for all prepayments on account thereof pursuant to CLAUSE (E) below and to payments previously made pursuant to the next following sentence, each Group IV Lessee shall pay to the Group IV Lessor the Monthly Variable Rents that have accrued during the Related Month with respect to all Group IV Vehicles that were leased by such Group IV Lessee under the Operating Lease on any day during the Related Month. On each other date on which interest is due and payable under the terms of a Group IV Supplement, each Group IV Lessee shall pay to the Group IV Lessor, as Monthly Variable Rent, an amount equal to the product of (x) the quotient obtained by dividing the aggregate Group IV Net Book Value of all Group IV Vehicles leased by such Group IV Lessee under the Operating Lease as of the last day of the calendar month preceding the month in which such date occurs by the aggregate Group IV Net Book Value of all Group IV Vehicles leased under the Operating Lease and the Group IV Financing Lease as of the last day of the calendar month preceding the month in which such date occurs and (y) the amount of interest due and payable on such date in respect of the Group IV Notes.

Monthly Variable Rent. The “Monthly Variable Rent” for each Payment Date and each Lease Vehicle other than a Lease Vehicle which was a Credit Vehicle on the last day of the Related Month with respect to such Payment Date (w) leased hereunder as of the last day of the Related Month with respect to such Payment Date, (x) the Disposition Date in respect of which occurred during such Related Month, or (y) that was purchased by the applicable Lessee during such Related Month, in each case shall equal to the product of the sum of: (A) all interest that has accrued on the Spanish Note during the Interest Period for the Spanish Note ending on the second Business Day immediately preceding the Determination Date immediately preceding such Payment Date, plus (B) all Spanish Carrying Charges with respect to such Payment Date, and (i) the quotient (the “VR Quotient”) obtained by dividing: (A) the Net Book Value of such Lease Vehicle as of the last day of such Related Month (or, if earlier, the Disposition Date with respect to such Lease Vehicle) by (B) the aggregate Net Book Value as of the last day of such Related Month (or, in any such case, if earlier, the Disposition Date of such Lease Vehicle) of all such Lease Vehicles leased by the Lessor to the Lessees.

Monthly Variable Rent. The “Monthly Variable Rent” for each Payment Date and each Lease Vehicle other than a Lease Vehicle which was a Credit Vehicle on the last day of the Related Month with respect to such Payment Date (w) leased hereunder as of the last day of the Related Month with respect to such Payment Date, (x) the Disposition Date in respect of which occurred during such Related Month, or (y) that was purchased by the applicable Lessee during such Related Month, in each case shall equal to the product of the sum of: (A) all interest that has accrued on the Spanish Note during the Interest Period for the Spanish Note ending on the second Business Day immediately preceding the Determination Date immediately preceding such Payment Date, plus (B) all Spanish Carrying Charges with respect to such Payment Date, and

Monthly Variable Rent. On each Payment Date, after giving credit for all prepayments on account thereof pursuant to (f) below, each Lessee shall pay to the Lessor the Monthly Variable Rents that have accrued during the Related Month with respect to all Vehicles that were leased by such Lessee under the Operating Lease on any day during the Related Month. On each other date on which Note Interest is due and payable under the terms of a Series 1997 Variable Funding Supplement, each Lessee shall pay to the Lessor, as Monthly Variable Rent, an amount equal to the amount of Note Interest due and payable on such date in respect of the Series 1997 Variable Funding Notes.

Monthly Variable Rent. On each Payment Date, after giving credit for all prepayments on account thereof pursuant to (e) below and to payments previously made pursuant to the next following sentence, each Lessee shall pay to the Lessor the Monthly Variable Rents that have accrued during the Related Month with respect to all Vehicles that were leased by such Lessee under the Operating Lease on any day during the Related Month. On each other date on which interest is due and payable under the terms of a Group I Supplement, each Lessee shall pay to the Lessor, as Monthly Variable Rent, an amount equal to the product of (x) the quotient obtained by dividing the aggregate Net Book Value of all Vehicles leased by such Lessee under the Operating Lease as of the last day of the calendar month preceding the month in which such date occurs by the aggregate Net Book Value of all Vehicles leased under the Operating Lease and the Financing Lease as of the last day of the calendar month preceding the month in which such date occurs and (y) the amount of interest due and payable on such date in respect of the Group I Notes.