Contract Residual Value definition

Contract Residual Value means the residual value of a 2017-1 Vehicle set forth in the related 2017-1 Lease.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Contract Residual Value means, with respect to any Closed-End Vehicle, the residual value of the Closed-End Vehicle at the scheduled termination of the lease as set forth in the related lease agreement.

Contract Residual Value means, with respect to any Leased Vehicle, the value of the Leased Vehicle at the related Maturity Date as established by the Servicer at the time of origination of the related Lease Agreement in accordance with the Customary Servicing Practices for the purpose of determining the Monthly Payment.

Examples of Contract Residual Value in a sentence

• Exhibit A shall set forth as to each 2025-2 Lease or 2025-2 Vehicle, as the case may be, the (i) vehicle identification number, or equivalent vehicle identification code, (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 2025-2 Lease or 2025-2 Vehicle, as the case may be, the (i) vehicle identification number, or equivalent vehicle identification code, (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.

More Definitions of Contract Residual Value

Contract Residual Value means the residual value of a 2024-2 Vehicle set forth in the related 2024-2 Lease.

Contract Residual Value means, for a Lease, the dollar amount stated in the Lease as the value of the related Leased Vehicle at the Scheduled Lease End Date, which amount may be adjusted if the Lease is extended.

Contract Residual Value means, with respect to any Closed-End Vehicle, the residual value of the Closed-End Vehicle at the scheduled termination of the lease established or assigned by World Omni Financial Corp. at the time of origination of the lease and set forth in the related lease agreement.

Contract Residual Value means the residual value of a 20[__]-[__] Vehicle set forth in the related 20[__]-[__] Lease.

Contract Residual Value means, with respect to any Contract that is a lease in form, the dollar amount so designated as such by the Servicer as of the origination date of the Contract.

Contract Residual Value means the residual value of the vehicle set forth in the Lease schedule attached as Exhibit A hereto.

Contract Residual Value means the residual value of the vehicle set forth in the Lease schedule attached as Exhibit A hereto.