Discounted Lease Balance definition

Discounted Lease Balance has the meaning ascribed to such term in the Pooling and Servicing Agreement.
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Discounted Lease Balance means, with respect to any Included Lease, at any time of determination, the sum of (i) the present value of all of the remaining Scheduled Payments becoming due under such Lease after such date of determination (not to exceed the Stipulated Loss Value thereunder), discounted monthly at the Applicable Discount Rate in the manner described below and (ii) the aggregate amount of all Scheduled Payments (due after the applicable Cut Off Date) then due and payable under such Lease which have not been received by the Servicer; provided, however, that for purposes of computing the Aggregate Pool Balance, the Discounted Lease Balance of any Defaulted Lease, Ineligible Lease, Early Termination Lease or Expired Lease or Removed Lease shall be equal to zero. In connection with all calculations required to be made pursuant to this Agreement with respect to the determination of Discounted Lease Balances, for any date of determination the "Discounted Lease Balance" for each Lease shall be calculated assuming:
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Discounted Lease Balance in Section 1.1 of the Agreement is amended by adding at the end of such definition the following text: For the purposes of computing the Aggregate Pool Balance, the Discounted Lease Balance of Scheduled Payments due more than 84 months after the date of such computation of such Aggregate Pool Balance, shall be equal to zero.
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Examples of Discounted Lease Balance in a sentence

  • The Purchase Price of a Series of Receivables will be calculated by reference to the Discounted Lease Balance of the related Lease Receivables together with the Discounted Contractual Residual Value in respect of the related Lease Agreement as of the first Cut-Off Date.

  • In no event will any Early Settlement or other payment be required by VWL unless there is an alteration or reduction of Lease Contracts by VWL which results in a reduction of the Discounted Lease Balance of the Lease Receivables under the Lease Contract.

  • This is because the "Maximum Discounted Lease Balance" must not include the current period as it is an input parameter for the waterfall calculation (which has to take place before any Top-Up can occur for the current period).

  • The respective Amortisation Amount is intended to reduce the aggregate outstanding principal amounts of the Amortising Series of Notes to amounts which would leave an amount of overcollateralisation constant as a percentage of the Aggregate Discounted Lease Balance, subject to certain specified increases in those percentages in case a Credit Enhancement Increase Condition is in effect.

  • Proceeds collected by the Purchaser from insurance enterprises pursuant to the assignment of claims under the Vehicles and Receivables Purchase Agreement will be allocated on a pro rata basis in relation the Discounted Lease Balance outstanding on the respective Lease Contract and the Purchaser will allocate such fractional amounts which refer to the outstanding Discounted Lease Balance to the Issuer acting with respect to its Compartment 1 and in all other cases allocate the proceeds to VWL.

  • Any such Deemed Collection shall be an amount equal to (a) in case of the exercise of the Portfolio Call Option, the Portfolio Call Strike Price, (b) in case of the exercise of the Termination Call Option, the relevant Termination Call Strike Price and (c) in case of any other event giving rise to a Deemed Collection, the Discounted Lease Balance of the relevant Affected Lease Asset.


More Definitions of Discounted Lease Balance

Discounted Lease Balance means, with respect to any Lease, at any time of determination, the sum of (i) the present value of all of the remaining Scheduled Lease Payments becoming due under such Lease after such date of determination, discounted monthly at the Discount Rate in the manner described below and (ii) the aggregate amount of all Scheduled Lease Payments (due after the Cut-Off Date) then due and payable under such Lease which have not been received by the Servicer; provided, however, that the Discounted Lease Balance of any Defaulted Lease, Early Termination Lease or Expired Lease or Lease purchased by Trans Leasing or the Servicer shall be equal to zero. In connection with all calculations required to be made pursuant to this Agreement with respect to the determination of Discounted Lease Balances, for any date of determination the "Discounted Lease Balance" for each Lease shall be calculated assuming:
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Discounted Lease Balance means, with respect to any Lease, at any time of determination, the sum of (i) the present value of all of the remaining Scheduled Lease Payments becoming due under such Lease after such date of determination and unpaid as of such date of determination, calculated monthly at the Discount Rate in the manner described below, and (ii) the aggregate amount of all Scheduled Lease Payments (due after the Cut-Off Date) then due and payable under such Lease which have not been received by the Servicer (other than Scheduled Lease Payments to the extent there has been a Servicer Advance with respect thereto); provided, however, that the Discounted Lease Balance of any Defaulted Lease, Early Termination Lease, Expired Lease or Lease purchased by the Originator or the Seller, or replaced with a Substitute Lease, shall be equal to zero. In connection with all calculations required to be made pursuant to this Agreement with respect to the determination of Discounted Lease Balances, for any date of determination, the Discounted Lease Balance for each Lease shall be calculated assuming:
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Discounted Lease Balance means, at any time, the aggregate of the discounted present values of the remaining scheduled payments which will become due on each Net Receivable, which present value shall be established, for each Net Receivable, by discounting on a monthly basis such remaining payments using the monthly equivalent of the Receivables Discount Rate applicable to each such Net Receivable as the discount rate, excluding from such payments any amounts that the Person receiving such payments is required to pay under any sales or other similar surcharge tax imposed by any state, municipality or other taxing authority (other than taxes imposed and calculated upon the income of such receiving Person).
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Discounted Lease Balance. (a) for any Lease as of the Cut-Off Date, the present value of all Lease Payments due thereon after the Cut-Off Date (excluding payments with respect to Defaulted Leases, Early Termination Leases and Leases Subject to a Warranty Event), discounted monthly, as to each Lease Payment, from the last day of the Collection Period in which such Lease Payment is to become due at a rate equal to the product of (i) one-twelfth and (ii) the Discount Rate; (b) for any Lease as of any Payment Date, the present value of each remaining Lease Payment to become due under a Lease as of the related Calculation Date (excluding payments with respect to Defaulted Leases, Early Termination Leases and Leases subject to a Warranty Event), discounted monthly, as to each Lease Payment, from the last day of the Collection Period in which such Lease Payment is to become due at a rate equal to the product of (i) one-twelfth and (ii) the Discount Rate; and (c) notwithstanding the foregoing, on the date that a Lease becomes a Defaulted Lease, the Discounted Lease Balance for such Lease will be reduced to zero.
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Discounted Lease Balance means the sum of (a) the aggregate nominal value of a Lease Receivable and (b) the corresponding Final Notional Residual Value, each discounted at the Applicable Discount Rate.
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Related to Discounted Lease Balance

  • Lease Balance means, with respect to the Leased Properties, as of any date of determination, an amount equal to the aggregate sum of the outstanding Funded Amounts of all Funding Parties, all accrued and unpaid interest on the Loans, all accrued and unpaid Yield on the Lessor's Invested Amounts, all unpaid fees owing to the Funding Parties under the Operative Documents, including all other amounts owing to the Funding Parties by the Lessee under the Operative Documents.

  • Discounted present value means the present value of future payments determined by discounting the payments to the present using the most recently published applicable federal rate for determining the present value of an annuity, as issued by the internal revenue service.

  • Discounted Value means, with respect to the Called Principal of any Note, the amount obtained by discounting all Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor (applied on the same periodic basis as that on which interest on the Notes is payable) equal to the Reinvestment Yield with respect to such Called Principal.

  • 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.

  • Discounted Voluntary Prepayment has the meaning specified in Section 2.05(d)(i).

  • Remaining Present Value means, as of any date with respect to any lease, the present value as of such date of the scheduled future lease payments with respect to such lease, determined with a discount rate equal to a market rate of interest for such lease reasonably determined at the time such lease was entered into.

  • Consolidated Lease Expense for any period, the aggregate amount of fixed and contingent rentals payable by the Borrower and its Subsidiaries for such period with respect to leases of real and personal property, determined on a consolidated basis in accordance with GAAP.

  • Capitalized Lease of a Person means any lease of Property by such Person as lessee which would be capitalized on a balance sheet of such Person prepared in accordance with Agreement Accounting Principles.

  • Operating Lease Expense means the sum of all payments and expenses incurred by a Person, under any operating leases during the period of determination, as determined in accordance with GAAP.

  • Capitalized Lease Liabilities means all monetary obligations of the Borrower or any of its Subsidiaries under any leasing or similar arrangement which, in accordance with GAAP, would be classified as capitalized leases, and, for purposes of this Agreement and each other Loan Document, the amount of such obligations shall be the capitalized amount thereof, determined in accordance with GAAP, and the stated maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment of a penalty.

  • Capitalized Lease Obligation means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) in accordance with GAAP.

  • Discounted Voluntary Prepayment Notice has the meaning specified in Section 2.05(d)(v).

  • Consolidated Rental Payments means, with reference to any period, all payments under all Operating Leases (including payments for leases which have been reserved against), net of any related income from subleases, in each case calculated for the Company and its Subsidiaries on a consolidated basis for such period.

  • Finance Lease Obligation means, at the time any determination thereof is to be made, the amount of the liability in respect of a finance lease that would at such time be required to be capitalized and reflected as a finance lease on a balance sheet (excluding the footnotes thereto) in accordance with GAAP.

  • Lease Expense means, with respect to any Person, for any period for such Person and its subsidiaries on a Consolidated basis, lease and rental expense accrued during such period under all leases and rental agreements, other than Capital Leases and leases of personal property, determined in conformity with GAAP.

  • Synthetic Lease means, at any time, any lease (including leases that may be terminated by the lessee at any time) of any property (a) that is accounted for as an operating lease under GAAP and (b) in respect of which the lessee retains or obtains ownership of the property so leased for U.S. federal income tax purposes, other than any such lease under which such Person is the lessor.

  • Operating Lease Obligations means all obligations for the payment of rent for any real or personal property under leases or agreements to lease, other than Capitalized Lease Obligations.

  • Loan Value means for any Loan that is not Defaulted Receivable on any day (including the Cut-off Date) (A) with respect to Precomputed Loans, (i) the present value of the future Scheduled Payments discounted monthly at the applicable Implicit Rate of Return, plus (ii) any past due Scheduled Payments reflected on the Servicer’s records, plus (iii) the unamortized amounts of any purchase premiums, minus (iv) the unamortized amounts of any purchase discounts and (B) with respect to Simple Interest Loans, (i) the balance reflected on the Servicer’s records plus (ii) the unamortized amounts of any purchase premiums minus (iii) the unamortized amounts of any purchase discounts. Defaulted Receivables that are Loans shall be deemed to have a Loan Value equal to the outstanding Loan Value at the time it became a Defaulted Receivable less the amount written-off as uncollectible in accordance with the Credit and Collection Policy.

  • Capitalized Lease Obligations of a Person means the amount of the obligations of such Person under Capitalized Leases which would be shown as a liability on a balance sheet of such Person prepared in accordance with Agreement Accounting Principles.

  • Credit allowance date means with respect to any qualified equity investment:

  • Rent Expense means for any fiscal period, the total amount of rents and other charges payable during such period by the Credit Parties and their respective Subsidiaries under all Real Estate Leases to which they are a lessee, all as determined on a consolidated basis in accordance with GAAP.

  • Capitalized Leases means all leases that have been or should be, in accordance with GAAP, recorded as capitalized leases.

  • Finance Lease Obligations means, at the time any determination thereof is to be made, the amount of the liability in respect of a Finance Lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) prepared in accordance with GAAP; provided that Finance Lease Obligations shall, for the avoidance of doubt, exclude all Non-Finance Lease Obligations.

  • Principal Prepayment Amount For any Distribution Date and for any Loan Group, the sum with respect to the Mortgage Loans in such Loan Group of (i) Curtailments received during the Prior Period from such Mortgage Loans and (ii) Payoffs received during the Payoff Period from such Mortgage Loans.

  • Synthetic Lease Obligation means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).