Booked Residual Value definition

Booked Residual Value means, with respect to any Lease, the value of the related Vehicle at the Maturity Date as established or assigned by the Servicer at the time of origination of such Lease in accordance with the Credit and Collection Policy for the purpose of determining the Base Monthly Payment.

Booked Residual Value means, with respect to a Closed-End Vehicle, the amount stipulated in the related Closed-End Lease (as reflected in the Schedule of Leases and Vehicles) as the value of such Closed-End Vehicle at the Maturity Date of the related Closed-End Lease, as established upon the date of origination of the related Closed-End Lease.

Booked Residual Value means the amount established at the origination of the lease (based on documentation provided to the Dealers by TMCC) representing the estimated wholesale market value at the Maturity Date of the related Contract, each as set forth on the face of such Contract at the time of origination including, and with respect to a Contract for which the Maturity Date has been extended by the Servicer in connection with any extension or deferral, means the value as set forth above reduced by payments in respect of principal received during the extension period.

Examples of Booked Residual Value in a sentence

• The 2020-A Lease is payable solely in Dollars in the United States and is a closed-end lease that provides for equal monthly payments by the Lessee, which scheduled payments, if made when due, fully amortize to an amount equal to the Booked Residual Value of the related 2020-A Vehicle based upon the related Contract Rate.

• The 2019-B Lease is payable solely in Dollars in the United States and is a closed-end lease that provides for equal monthly payments by the Lessee, which scheduled payments, if made when due, fully amortize to an amount equal to the Booked Residual Value of the related 2019-B Vehicle based upon the related Contract Rate.

• The 2016-B Lease is payable solely in Dollars in the United States and is a closed-end lease that provides for equal monthly payments by the Lessee, which scheduled payments, if made when due, fully amortize to an amount equal to the Booked Residual Value of the related 2016-B Vehicle based upon the related Contract Rate.

• The 2016-A Lease is payable solely in Dollars in the United States and is a closed-end lease that provides for equal monthly payments by the Lessee, which scheduled payments, if made when due, fully amortize to an amount equal to the Booked Residual Value of the related 2016-A Vehicle based upon the related Contract Rate.

• The 2018-A Lease is payable solely in Dollars in the United States and is a closed-end lease that provides for equal monthly payments by the Lessee, which scheduled payments, if made when due, fully amortize to an amount equal to the Booked Residual Value of the related 2018-A Vehicle based upon the related Contract Rate.

More Definitions of Booked Residual Value

Booked Residual Value means, with respect to any Contract and the related Equipment on any date of determination, the estimated residual value of the Equipment subject to such Contract recorded on the Originator's books, in accordance with the Originator's standard policies, as of the applicable Cut-Off Date.

Booked Residual Value the estimated residual value of the Equipment recorded on the books of the Transferor as of the Cut-Off Date in the case of the initial Leases, and as of the date of substitution in the case of a Substitute Lease.

Booked Residual Value means the estimated residual value of the Equipment recorded on the books of Transferor.

Booked Residual Value means, with respect to an item of Equipment, the residual value thereof that was established by the Originator at the commencement of the Contract covering such item of Equipment, as shown on the books of the Originator on the applicable Cut-Off Date.

Booked Residual Value. With respect to any Contract on any date of determination, the residual value of the Equipment subject to such Contract, as reflected in the Servicer's servicing system.

Booked Residual Value the estimated residual value of the Equipment recorded on the books of the Seller. Business Day - any day that is not a Saturday, Sunday or other day on which commercial banking institutions in the city in which the Corporate Trust Office or the Servicer is located are authorized or obligated by law or executive order to remain closed. Casualty Payment - any payment pursuant to a Lease on account of the loss, theft, condemnation, governmental taking, destruction, or damage beyond repair of any item of Equipment subject thereto which results, in accordance with the terms of the Lease, in a reduction in the number or amount of any future Lease Payments due thereunder or in the termination of the Lessee's obligation to make future Lease Payments thereunder.

Booked Residual Value means the stipulated fair market value of a 1999-A Leased Vehicle as of the Maturity Date of the related 1999-A Lease, as originally set forth on the face of the 1999-A Lease, and as subsequently adjusted to reflect any additional scheduled Monthly Lease Payments added by virtue of any non-credit-related extension of the Maturity Date pursuant to Section 2.02(b)(ii) of the Servicing Agreement and Section 9.02(a) of the Servicing Supplement.