Base Residual Value means, for a Lease, the lower of (a) the Contract Residual Value of the Lease and (b)(i) the ALG Residual Value of the related Leased Vehicle or (ii) if the Servicer does not have an ALG Residual Value, the oldest ALG MTM Residual Value that the Servicer has for the related Leased Vehicle.
Base Residual Value means, with respect to a 201[__]-[__] Lease, the lowest of the (i) Residual Value, (ii) the ALG Residual Value and (iii) the ALG Current Residual Value.
Base Residual Value means, for each Vehicle related to an Included Unit, the lowest of (i) the MSRP ALG Residual of the related Vehicle, (ii) the Updated ALG Residual of the related Vehicle and (iii) the Stated Residual Value of the related Vehicle.
Examples of Base Residual Value in a sentence
Securitization Rate) of the Base Residual Value of the related Vehicle and (b) as of the maturity date of the related Lease, the Base Residual Value of the related Vehicle; provided, however, that the Securitization Value of a Terminated Unit is equal to zero.
Effective as of each Xxxx-to-Market Adjustment Date, the Borrower shall recalculate the Xxxx-to-Market MRM Residual Value of each Warehouse SUBI Lease for which there is a Xxxx-to-Market MRM Residual Value at the end of the calendar month which preceded such Xxxx-to-Market Adjustment Date, and thereafter shall use such value in the calculation of the Base Residual Value for such Warehouse SUBI Lease until the next Xxxx-to-Market Adjustment Date.
DEALER PAYMENT MSRP$Guide % Base Residual Value Adds (Wholesale) Air Cond.
Due to strong demand at the end of fourth quarter 2018 which resulted in a high number of leases in December 2018, on the next date of deterimation, the aggregate Base Residual Value of all Warehouse SUBI Leases that are Eligible Leases scheduled to reach their Lease Maturity Date in any one (1) month will be greater than [***].
Additionally, Appellant asserts that if the D/GC had questions about its day-to-day management, she had a duty to make an inquiry into how the firm actually operates on a daily basis and should not have relied on formalities such as one partial statement from the short General Partnership Agreement.
More Definitions of Base Residual Value
Base Residual Value means, for each Closed-End Vehicle related to an Included Unit, the lowest of (a) the ALG Residual Value of the related Closed-End Vehicle at the time of origination of the lease and (b) the Contract Residual Value.
Base Residual Value means, with respect to any 2023-3 Lease Agreement, the least of (i) the Contract Residual Value, (ii) the residual value of the total manufacturer’s suggested retail price of the related 2023-3 Leased Vehicle (including all options authorized by the Servicer in connection with the origination of the related 2023-3 Lease Agreement, without making a distinction between value-adding options that add little or no value to the resale price of the related 2023-3 Leased Vehicle) on the related Maturity Date as determined in accordance with the then-current Automotive Lease Guide upon origination of the related 2023-3 Lease Agreement, (iii) the residual value of the total manufacturer’s suggested retail price of the related 2023-3 Leased Vehicle (including all options authorized by the Servicer in connection with the origination of the related 2023-3 Lease Agreement, without making a distinction between value-adding options that add little or no value to the resale price of the related 2023-3 Leased Vehicle) on the related Maturity Date calculated utilizing as a “mark-to-market” value a residual value estimate as determined in accordance with the May/June 2023 Automotive Lease Guide, (iv) the residual value of the Maximum Residualizable MSRP of the related 2023-3 Leased Vehicle on the related Maturity Date as determined in accordance with the then-current Automotive Lease Guide upon origination of the related 2023-3 Lease Agreement, and (v) the residual value of the Maximum Residualizable MSRP of the related 2023-3 Leased Vehicle on the related Maturity Date calculated utilizing as a “mark-to-market” value a residual value estimate as determined in accordance with the May/June 2023 Automotive Lease Guide.
Base Residual Value means, with respect to any Leased Vehicle, as of the Cutoff Date with respect to the related Lease Agreement or, if more recent, as of the most recent Determination Date on which the ALG Residual Value Percentage with respect to such Leased Vehicle was re-determined in accordance with the Basic Servicing Agreement or the related Servicing Supplement, as applicable, the lesser of (i) the Contract Residual Value and (ii) the product of the ALG Residual Value Percentage with respect to such Leased Vehicle as of such date and the Maximum Residualizable MSRP with respect to such Leased Vehicle. Notwithstanding the foregoing, if an Exchange Note Supplement specifies an alternative definition of “Base Residual Value,” that definition shall be used in determining the Base Residual Value for all Leased Vehicles allocated to the related Designated Pool for so long as such Leased Vehicles are allocated to such Designated Pool.
Base Residual Value means, for each Closed-End Vehicle related to an Included Unit, the lowest of (a) the lower of the MSRP Residual Value and the MRM Residual Value of the related Closed-End Vehicle at the time of origination of the lease and (b) the Contract Residual Value.
Base Residual Value means, with respect to any 20 - Lease Agreement, the least of (i) the Contract Residual Value, (ii) the residual value of the total manufacturer’s suggested retail price of the related 20 - Leased Vehicle (including all options authorized by the Servicer in connection with the origination of the related 20 - Lease Agreement, without making a distinction between value-adding options that add little or no value to the resale price of the related 20 - Leased Vehicle) on the related Maturity Date as determined in accordance with the then-current Automotive Lease Guide upon origination of the related 20 - Lease Agreement, (iii) the residual value of the total manufacturer’s suggested retail price of the related 20 - Leased Vehicle (including all options authorized by the Servicer in connection with the origination of the related 20 - Lease Agreement, without making a distinction between value-adding options that add little or no value to the resale price of the related 20 - Leased Vehicle) on the related Maturity Date calculated utilizing as a “mark-to-market” value a residual value estimate as determined in accordance with the / 20 Automotive Lease Guide, (iv) the residual value of the Maximum Residualizable MSRP of the related 20 - Leased Vehicle on the related Maturity Date as determined in accordance with the then-current Automotive Lease Guide upon origination of the related 20 - Lease Agreement, and (v) the residual value of the Maximum Residualizable MSRP of the related 20 - Leased Vehicle on the related Maturity Date calculated utilizing as a “mark-to-market” value a residual value estimate as determined in accordance with the / 20 Automotive Lease Guide.
Base Residual Value means, with respect to any Leased Vehicle and the related Lease, the lesser of (i) the TFL Residual Value, and (ii) the Mark-to-Market MRM Residual Value.
Base Residual Value means with respect to any Lease Agreement, as of the Cutoff Date with respect to such Lease Agreement or, if more recent, as of the most recent Determination Date on which the ALG Residual Value Percentage with respect to such Lease Agreement was re-determined in accordance with the Basic Servicing Agreement or the related Servicing Supplement, as applicable, the lesser of (i) the Contract Residual Value and (ii) the product of the ALG Residual Value Percentage with respect to such Lease Agreement as of such date and the Maximum Residualizable MSRP with respect to such Lease Agreement. Notwithstanding the foregoing, if an Exchange Note Supplement specifies an alternative definition of “Base Residual Value,” that definition shall be used in determining the Base Residual Value for all Leased Vehicles allocated to the related Designated Pool for so long as such Leased Vehicles are allocated to such Designated Pool.