Current Lease Balance means, for any Lease and as of any date of determination (i) the Lease Cost less (ii) the Amortized Lease Cost of such Lease at such time.
Current Lease Balance. As of any date with respect to a Contract, the sum of (i) the aggregate Gross Balance, plus (ii) booked residuals, less (iii) unearned income applicable thereto, provided that the Current Lease Balance of any Defaulted Contract shall be deemed to be zero except when used in the calculation of Cumulative Gross Default Rate and Cumulative Net Default Rate.
Examples of Current Lease Balance in a sentence
Notwithstanding the foregoing, Borrower may exercise its rights pursuant to this Section 2.11 solely with respect to the repurchase of Pledged Leases in a pool of Eligible Leases having an aggregate Current Lease Balance (measured as of the date of such repurchase) that is less than or equal to five percent (5%) of the sum of the funded Revolving Advances and the total unfunded Revolving Loan Commitment held by the Lenders with respect to such pool of Eligible Leases.