ALG Residual definition

ALG Residual means, with respect to any Lease, the expected value of the related Leased Vehicle at the related Maturity Date calculated by using a residual value estimate produced by Automotive Lease Guide in April 2016 as a “▇▇▇▇-to-market” value (assuming that the vehicle is in “average” rather than “clean” condition) based on the total MSRP of the vehicle and all NMAC authorized options, without making a distinction between value adding options and non-value adding options.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

ALG Residual. With respect to a Lease Asset, the applicable expected value of the related Leased Vehicle at the Scheduled Lease End Date as determined by Automotive Lease Guide Co. and as utilized by the Servicer on the date such Lease Asset was originated. Ally Auto: Ally Auto Assets LLC, a Delaware limited liability company, and its successors and assigns. Ally Bank: Ally Bank, a Utah chartered bank, formerly known as GMAC Automotive Bank, and its successors and assigns.

ALG Residual with respect to a Series 200_-_ Lease Asset, the applicable expected value of the related Vehicle at the Scheduled Lease End Date as determined by Automotive Lease Guide Co. and as selected by the Servicer on the date such Series 200_-_ Lease Asset was originated.

Examples of ALG Residual in a sentence

Exhibit A shall set forth as to each 20[__]-[__] Lease or 20[__]-[__] Vehicle, as the case may be, the (i) vehicle identification number, (ii) date of origination, (iii) the Securitization Value as of the Cutoff Date, (iv) ALG Residual Value, (v) the Monthly Payment and (vi) number of months remaining from the Cutoff Date to the month in which the Maturity Date occurs.
Exhibit A shall set forth as to each 2012-1 Lease or 2012-1 Vehicle, as the case may be, the (i) vehicle identification number, (ii) date of origination, (iii) the Securitization Value as of the Cutoff Date, (iv) ALG Residual Value, (v) the Monthly Payment and (vi) number of months remaining from the Cutoff Date to the month in which the Maturity Date occurs.
Exhibit A shall set forth as to each 2023-2 Lease or 2023-2 Vehicle, as the case may be, the (i) vehicle identification number, (ii) date of origination, (iii) ALG Residual Value, (iv) Contract Residual Value, (v) Securitization Value as of the Cutoff Date, (vi) Monthly Payment and (vii) number of months remaining from the Cutoff Date to the month in which the Maturity Date occurs.
Exhibit A shall set forth as to each 2016-1 Lease or 2016-1 Vehicle, as the case may be, the (i) vehicle identification number, (ii) date of origination, (iii) Securitization Value as of the Cutoff Date, (iv) ALG Residual Value, (v) Monthly Payment, (vi) Contract Residual Value and (vii) number of months remaining from the Cutoff Date to the month in which the Maturity Date occurs.
Exhibit A shall set forth as to each 20[__]-[__] Lease or 20[__]-[__] Vehicle, as the case may be, the (i) vehicle identification number, (ii) date of origination, (iii) Securitization Value as of the Cutoff Date, (iv) ALG Residual Value, (v) Monthly Payment, (vi) Contract Residual Value and (vii) number of months remaining from the Cutoff Date to the month in which the Maturity Date occurs.
Exhibit A shall set forth as to each 2016-1 Lease or 2016-1 Vehicle, as the case may be, the (i) vehicle identification number, (ii) date of origination, (iii) ALG Residual Value, (iv) Contract Residual Value, (v) Securitization Value as of the Cutoff Date, (vi) Monthly Payment and (vii) number of months remaining from the Cutoff Date to the month in which the Maturity Date occurs.
Exhibit A shall set forth as to each 2022-1 Lease or 2022-1 Vehicle, as the case may be, the (i) vehicle identification number, (ii) date of origination, (iii) ALG Residual Value, (iv) Contract Residual Value, (v) Securitization Value as of the Cutoff Date, (vi) Monthly Payment and (vii) number of months remaining from the Cutoff Date to the month in which the Maturity Date occurs.
Exhibit A shall set forth as to each 2022-1 Lease or 2022-1 Vehicle, as the case may be, the (i) vehicle identification number, (ii) date of origination, (iii) Securitization Value as of the Cutoff Date, (iv) ALG Residual Value, (v) Monthly Payment, (vi) Contract Residual Value and (vii) number of months remaining from the Cutoff Date to the month in which the Maturity Date occurs.
Exhibit A shall set forth as to each 2010-1 Lease or 2010-1 Vehicle, as the case may be, the (i) vehicle identification number, (ii) date of origination, (iii) the Securitization Value as of the Cutoff Date, (iv) ALG Residual Value, (v) the Monthly Payment and (vi) number of months remaining from the Cutoff Date to the month in which the Maturity Date occurs.
Exhibit A shall set forth as to each 2012-1 Lease or 2012-1 Vehicle, as the case may be, the (i) vehicle identification number, (ii) date of origination, (iii) ALG Residual Value, (iv) Contract Residual Value, (v) the Securitization Value as of the Cutoff Date, (vi) Monthly Payment and (viii) number of months remaining from the Cutoff Date to the month in which the Maturity Date occurs.

More Definitions of ALG Residual

ALG Residual with respect to a Series 20 -SN Lease Asset, the applicable expected value of the related Vehicle at the Scheduled Lease End Date as determined by Automotive Lease Guide Co. and as selected by the Servicer on the date such Series 20 -SN Lease Asset was originated.

ALG Residual with respect to a Series 2005-SN1 Lease Asset, the applicable expected value of the related Vehicle at the Scheduled Lease End Date as determined by Automotive Lease Guide Co. and as selected by the Servicer on the date such Series 2005-SN1 Lease Asset was originated.

ALG Residual means, with respect to any Lease, the expected value of the related Leased Vehicle at the related Maturity Date calculated by using a residual value estimate produced by Automotive Lease Guide in June 2019 as a “mark-to-market” value (assuming that the vehicle is in “average” rather than “clean” condition) based on the total MSRP of the vehicle and all NMAC authorized options, without making a distinction between value adding options and non-value adding options.

ALG Residual. With respect to a Lease Asset, the applicable expected value of the related Leased Vehicle at the Scheduled Lease End Date as determined by Automotive Lease Guide Co. as utilized by the Servicer on the date such Lease Asset was originated. Ally Financial: Ally Financial Inc., a Delaware corporation, formerly known as GMAC Inc., GMAC LLC and General Motors Acceptance Corporation, and its successors and assigns.