Contract Residual definition

Contract Residual means, with respect to any Lease, the residual value of the related Leased Vehicle at the Maturity Date as established or assigned by the Servicer at the time of origination of such Lease in accordance with its Customary Servicing Practices for the purpose of determining the Monthly Payment or at the date the Lease was terminated by the Lessee.
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Contract Residual means, with respect to any Lease, the expected value of the related Leased Vehicle at the Maturity Date as established or assigned by the Servicer at the time of origination of such Lease in accordance with its customary practices for the purpose of determining Monthly Payment.
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Examples of Contract Residual in a sentence

  • For purposes of this table, the “ALG Residual Value” for each leased vehicle is equal to the related residual value estimate produced by Automotive Lease Guide at the time of origination of the related lease with standard mileage of 15,000 miles/year and based on typically equipped and average condition of the leased vehicle or, if such estimate is unavailable, the related Contract Residual Value.

  • Fixed Price Contract Residual Income means income remaining after all services required of the contract have been completed, all invoices have been submitted and sponsor payments have been received, and all F&A has been charged.

  • For purposes of this table, the “ALG Residual” for each leased vehicle is equal to the related residual value estimate produced by Automotive Lease Guide at the time of origination of the related lease with standard mileage of 15,000 miles/year and based on typically equipped and average condition of the leased vehicle or, if such estimate is unavailable, the related Contract Residual Value.

  • For more information on how Contract Residual Values of the leased vehicles are determined, you should refer to “The Servicer, Sponsor and Administrator—Origination, Underwriting and Purchasing—Determination of contract residual values” in this prospectus.

  • Collections of end-of-term charges such as excess wear and use and excess mileage charges are credited when proceeds are received.(2) The dollar amount of the leases outstanding represents the sum of (i) the present value of the remaining monthly payments payable under the leases and (ii) the present value of the Contract Residual Value of the leased vehicles.

  • POST your Contract Residual Closeout Form Used to opening the neither of grants and contracts when funds vest with UT Rename and count the PDF form to.

  • Compare to the lesser of: (i) the ALG Residual (stated in the “ALG MLI” column in the Data File), (ii) the Contract Residual value stated in the Data File, or (iii) the Updated ALG Residual Value (stated in the “ALG MTM” column in the Data File).

  • LWL shall ensure that Contract Residual Waste arising at a RRC Site shall be taken to the Facility or as permitted in writing by the Authority's Representative or directed by the Authority's Representative.

  • If we assume that the original adjusted capitalized cost of the lease is the initial principal amount of the loan, that the lease rate is the interest rate, that the lease term is the term of the loan and that all monthly payments are timely made, the Contract Residual Value is the amount to which the outstanding balance would decline at the scheduled expiration of the lease term.In establishing the Contract Residual Values of leased vehicles, World Omni Financial Corp.

  • Gain/(Loss) net of the difference between the Contract Residual and the ALG Residual.