Active Lease Advance definition

Active Lease Advance means, for an Active Lease other than an Advance Payment Plan Lease and a Collection Period, an advance by the Servicer in an amount (not less than zero) equal to (a) the Base Payment, minus (b) the sum of (i) Active Lease Proceeds, plus (ii) the Payahead Draw.
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Examples of Active Lease Advance in a sentence

  • The Servicer may, at its option, make an advance for each Active Lease other than an Advance Payment Plan Lease and each Collection Period if the Base Payment exceeds the sum of (i) Active Lease Proceeds (which may be positive or negative) plus (ii) the Payahead Draw, by depositing the amount of the excess (equal to the Active Lease Advance) in the Exchange Note Collection Account on the Business Day before the related Payment Date or, with satisfaction of the Rating Agency Condition, on that Payment Date.

Related to Active Lease Advance

  • SOFR Advance means any Loan which, except as otherwise provided in Section 2.10, bears interest at a rate based on Adjusted Term SOFR (other than a Floating Rate Advance as to which the interest rate is determined with reference to Adjusted Term SOFR or a SOFR Market Index Rate Advance).

  • Loan Advance The meaning specified in Section 2.2(a).

  • Term SOFR Advance means an Advance that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • Equipment Advance is defined in Section 2.1.1.

  • Applied Special Termination Advance has the meaning assigned to such term in Section 2.05.

  • Future Advance means an Advance made after the Initial Closing Date.

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Monthly Payment Advance means, with respect to any 20[•]-[•] Lease and any Collection Period, an amount equal to the difference between the Monthly Payment due and the Lessee Partial Monthly Payment.

  • Term Advance has the meaning specified in Section 2.01(a).

  • Eligible advance means an advance made before August 19, 1993.

  • Property Advance means an advance made in respect of property protection expenses or expenses incurred to protect, preserve and enforce the security for the Mortgage Loan or to pay taxes and assessments or insurance premiums with respect to the Mortgaged Property.

  • Interest Advance means an Advance made pursuant to Section 2.02(a).

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Final Advance means an Advance made pursuant to Section 2.02(d).

  • Special Termination Advance means an Advance made pursuant to Section 2.02(g).

  • Nonrecoverable Advance Any portion of an Advance previously made or proposed to be made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by the Master Servicer from the related Mortgagor, related Liquidation Proceeds or otherwise.

  • Non-Extension Advance means an Advance made pursuant to Section 2.02(b).

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Expense Advance means a payment to Indemnitee pursuant to Section 3 of Expenses in advance of the settlement of or final judgement in any action, suit, proceeding or alternative dispute resolution mechanism, hearing, inquiry or investigation which constitutes a Claim.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • Tranche A Advance has the meaning specified in Section 2.01(a).

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.