Delinquent Lease definition

Delinquent Lease means any Lease Agreement which has an amount equal to 10% or more of any Monthly Payment unpaid for more than thirty (30) days from the original Payment Due Date for such payment and that is not a Defaulted Lease.

Delinquent Lease as of any Determination Date, any Lease (other than ---------------- a Lease which became a Non-Performing Lease prior to such Determination Date) with respect to which the Lessee has not paid all Lease Payments then due. Depository Agreement: the letter of representations, between the -------------------- Issuer and the Depository Trust Company, as Clearing Agency.

Delinquent Lease means, as of any date of determination, any Lease with a Missed Payment Factor of 4.29 or more.

Examples of Delinquent Lease in a sentence

• Delinquent Lease Payments, if any, shall be made to the Trustee for application in accordance with the Trust Agreement.

• The Issuer is subject to the further risk of failure by the Servicer to collect or recover sufficient funds in respect of the Portfolios in order to discharge all amounts payable under the Notes when they fall due, as well as the risk of default in payment by the Lessees and the failure to realise or recover sufficient funds in respect of the Delinquent Lease Contracts and the Defaulted Lease Contracts in order to discharge all amounts due by the Lessees under the Lease Contracts.

• The Servicer will also be responsible for carrying out, on behalf of the Issuer, in accordance with the Servicing Agreement and the Collections Policies, any activities related to the management of the Defaulted Lease Contracts and the Delinquent Lease Contracts, including activities in connection with the enforcement and recovery of the Defaulted Lease Contracts and the Delinquent Lease Contracts.

More Definitions of Delinquent Lease

Delinquent Lease means, as of any Determination Date, any Lease (other than a Lease which became a Non-Performing Lease prior to such Determination Date) with respect to which the Lessee has not paid all Lease Payments then due.

Delinquent Lease means, with respect to any Lease as of any Due Date, a Lease as to which all or any part of a Monthly Lease Payment in excess of $40.00 is unpaid (including without limitation because of a check being returned for insufficient funds) 61 days or more after its Due Date (other than a Defaulted Lease or a Lease as to which an extension has been granted with respect to such Due Date by the Servicer pursuant to clause (ii) of Section 2.02(b) of the Servicing Agreement) (and, if applicable, Section 9.02(a) of the Servicing Supplement).

Delinquent Lease shall have the meaning set forth in the 1998-A SUBI Supplement, except that it shall refer to 1998-A Leases that are 31 days or more past due, not 61 days or more past due; and (ii) with respect to Leases that are included in the 1998-A SUBI Portfolio during a Collection Period but which are not Delinquent Leases, an aggregate advance permitted (but not required) to be made with respect to any Monthly Lease Payments under such Leases that are one or more days, but less than 31 days, past due.

Delinquent Lease means a Lease which is not a Defaulted Lease and with respect to which an amount at least equal to 5% of any Monthly Lease Payment remains unpaid for more than 60 days from the original due date of such payment.

Delinquent Lease means a Lease with respect to which all or any portion of any Monthly Lease Payment or other payment due thereunder remains unpaid for more than 60 days from the due date of such payment, but excludes Defaulted Leases. [***] Information has been omitted and filed separately with the Securities and Exchange Commission. Confidential Treatment has been requested with respect to the omitted portions.

Delinquent Lease in Section 1.1 of the Agreement is amended by deleting the text in its entirety and substituting in its place the following text:

Delinquent Lease means, as of any Determination Date, any Lease (other than a Lease that became a Liquidated Lease prior to such Determination Date) with respect to which the Obligor has not made all Scheduled Payments then due.