Common use of Monthly Variable Rent Clause in Contracts

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. 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, (ii) all interest due and payable under the HVF Credit Facility as of such Payment Date and (iiiii) 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 DatesDate) of all ZVF Vehicles leased hereunder during the Related Month plus (2) 4.00if such Vehicle is a Non-Eligible Program Vehicle or a Non-Program Vehicle, 1.50% 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) plus (3) 2% per annum, payable at one-twelfth the annual rate, of the Net Book Value of such Vehicle as of the last day of the Related Month (or, if later, as of the Vehicle Operating Lease Commencement Date of such Vehicle).