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 that certain lease relating to the Real Estate located in Mohwah, New Jersey.
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Examples of Covered lease in a sentence

  • After the Closing, Section 4.3 of the WEO Agreement shall not apply to any transactions other than Covered Lease Transactions and no leasing commissions shall be payable pursuant to such Section 4.3 with respect to any other transactions.

  • This publication sets forth the current market value at the Scheduled Lease Termination Date for each Covered Lease by make, model and optional equipment.


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 a lease for oil or gas
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Related to Covered lease

  • Approved Lease means (a) each existing Lease as of the Closing Date as set forth in the Leasing Affidavit and (b) each Lease entered into after the Closing Date in accordance with the terms and conditions contained in Section 9.09 as such leases and related documents shall be Modified as permitted pursuant to the terms of this Agreement.

  • 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:

  • Site Lease or “Lease” means the Site Lease of even date herewith, by and between the District and the Lessor together with any duly authorized and executed amendment thereto under which the District leases the Site to the Lessor.

  • Tenant Lease means any lease entered into by the Borrower, any Loan Party or any Subsidiary with respect to any portion of a Property.

  • Covered Building Service Contract means a contract or subcontract to provide Building Services to the City of Cambridge or any of its departments or subdivisions.

  • Master Lease means that certain [Master Lease title], relating to the leasing of, inter alia, the Healthcare Facility by Borrower to Master Tenant.

  • New Lease Any lease of REO Property entered into on behalf of the Trust, including any lease renewed or extended on behalf of the Trust if the Trust has the right to renegotiate the terms of such lease.

  • Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.

  • Space Lease The space or occupancy lease pursuant to which any Borrower holds a leasehold interest in the related Mortgaged Property, together with any estoppels or other agreements executed and delivered by the lessor in favor of the lender under the related Mortgage Loan(s).

  • Co-op Lease With respect to a Co-op Loan, the lease with respect to a dwelling unit occupied by the Mortgagor and relating to the stock allocated to the related dwelling unit.

  • Assigned Leases has the meaning specified in Section 2.01(b).

  • Unexpired Lease means a lease to which one or more of the Debtors is a party that is subject to assumption or rejection under section 365 of the Bankruptcy Code.

  • Recorded Leasehold Interest means a Leasehold Property with respect to which a Record Document has been recorded in all places necessary or desirable, in the Collateral Agent’s reasonable judgment, to give constructive notice of such Leasehold Property to third-party purchasers and encumbrances of the affected real property.

  • Capital Lease means, as applied to any Person, any lease of any property (whether real, personal or mixed) by that Person as lessee which, in accordance with GAAP, is or should be accounted for as a capital lease on the balance sheet of that Person and the amount of such obligation shall be the capitalized amount thereof determined in accordance with GAAP.

  • Property Lease means any Depot Lease, any lease in respect of a Managed Station Area, any lease in respect of Shared Facilities or any Station Lease and any agreement or lease of a similar or equivalent nature (whether in respect of any such facility or otherwise) which the Franchisee may enter into with a person who has an interest in a network or a railway facility which is to be used for or in connection with the provision or operation of the Franchise Services;

  • the Lease means the lease of the said land to be granted by the Lessor to the Lessee pursuant to clause 2.1;

  • Sublease means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease.

  • Master Lease Agreement has the meaning set forth in Section 7.2(c)(xiv).

  • Master Leases refers to the four second amended and restated master lease agreements, dated as of April 27, 2007, by and among the Operating Partnership and Kindred Healthcare, Inc. and Kindred Healthcare Operating, Inc.

  • special lease means a special lease or license to be granted in terms of this Agreement under the Ratifying Act the Land Act or the Xxxxxxx Xxx 0000 and includes any renewal thereof; “this Agreement” “hereof” and “hereunder” include this Agreement as from time to time added to varied or amended;

  • Superior Landlord means and includes people or persons to whom the ownership or interest in the Leasehold Property might revert in the fullness of time.

  • Sublease Agreement shall have the meaning specified in Section 8.2(b).

  • Liquidated Lease means a 2016-B Lease that is terminated and charged off by the Servicer prior to its Maturity Date following a default thereunder.