Covered lease definition

Covered lease means any agreement by a public agency with a
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Covered lease. Each lease transaction with respect to an automobile included in the Data Base that (i) is outstanding as of the Effective Date, (ii) has a Disposal Date that is no later than 90 days after the Actual Termination Date for such lease transaction and (iii) actually terminates no earlier than 60 days prior to its Scheduled Lease Termination Date and no later than six months after its Scheduled Lease Termination Date; provided, however, a lease transaction that terminates within 180 days prior to its Scheduled Lease Termination Date shall also be included as a Covered Lease if, and only if, clauses (i) and (ii) above are satisfied and Loss arising from such lease transaction is no greater than 90% of the Expected Loss for such lease transaction, and provided that only 30,802 lease transactions may be included as Covered Leases pursuant to this proviso (each lease transaction meeting the criteria of this proviso is referred to herein as an “Early Termination Covered Lease”); provided, further, a lease transaction that terminates more than six months after its Scheduled Lease Termination Date shall also be included as a Covered Lease if, and only if, clauses (i) and (ii) above are satisfied and (x) a Lease Extension is made with respect to such Covered Lease, (y) Loss arising from such lease transaction is less than the Expected Loss for such lease transaction and (z) such lease transaction actually terminates no earlier than its Revised Lease Termination Date. Covered Losses: Quarterly Losses paid by the Insured with respect to Covered Leases. Data Base: The electronic files provided to Capital Re Solutions Incorporated by the Insured on December 10, 1999 entitled “LeMansAcctDetail” and “ALGAcctDetail” that satisfy the “PORT2” ABS Field (a total of 308,028 records).
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Covered lease means a lease for oil or gas
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More Definitions of Covered lease

Covered lease means any Lease for which the related Lessee deposited a Security Deposit with the Source at the origination of such Lease.
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Covered lease means that certain lease relating to the Real Estate located in Mohwah, New Jersey.
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Related to Covered lease

  • Approved Lease has the meaning set forth in Section 6.11(a).

  • Permitted Lease means a lease permitted under Section 4.02(b) of the Trust Indenture.

  • Head Lease or “Superior Lease” means the document which sets out the promises the Landlord has made to the Superior Landlord. The promises contained in this Head Lease will bind the Tenant if he has prior knowledge of those promises.

  • mineral lease means the mineral lease referred to in clause 8(1)(a) hereof and includes any renewal thereof;

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that: