Average Net Investment definition
Average Net Investment for any Program Year shall be determined as the net of (1) below less (2) below, divided by twelve (12) (or, in the case of any early termination of the Term, the net of (1) below less (2) below for any Program Year, divided by the number of Fiscal Months elapsed in such Program Year through the date of such termination).
Average Net Investment for any Fiscal Month shall be determined as the net of (1) below less (2) below.
Average Net Investment means the sum of the Book Value at 11:59 PM on the day preceding the first day of a fiscal quarter of Servicer plus the Book Value of all User Leases at 11:59 PM on the last day of such fiscal quarter, divided by two.