Discounted Lease Balance definition

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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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:

Discounted Lease Balance has the meaning ascribed to such term in the Pooling and Servicing Agreement.

Examples of Discounted Lease Balance in a sentence

The Transferor shall accept a retransfer of each such Ineligible Lease and there shall be deducted from the Aggregate Pool Balance the Discounted Lease Balance of each such Ineligible Lease.
In connection with the origination of the AFG Credit Leases by AFG as agent for AFG Credit, AFG shall, at its own expense, on or prior to the Origination Date, deliver to AFG Credit a computer file or microfiche or written list (an "AFG Credit Lease Schedule") containing a true and complete list of all AFG Credit Leases then being originated by AFG as agent on behalf of AFG Credit, identified by account number and by the Discounted Lease Balance as of the related Origination Cut-Off Date.
The Transferor shall deliver to the Trustee a computer file, microfiche or written list containing a true and complete schedule identifying all Removed Leases specifying for each such Removed Lease, as of the Removal Notice Date, its account number and the Discounted Lease Balance thereof.
Pursuant to Section 3.1(A) of the Agreement, Borrower hereby certifies that on _______________ it acquired Original Leases from Trans Leasing with an aggregate Discounted Lease Balance as of the Initial Cut-Off Date (calculated using the Discount Rate for the Closing Date) equal to $___________ pursuant to the Initial Lease Transfer Agreements.
At no time prior to the Amortization Date shall the Borrower permit the Discounted Lease Balance to be less than an amount equal to the sum of (i) the Aggregate Capital of all Loans PLUS (ii) the Loss Reserve.
Immediately after giving effect to each Loan hereunder, the Discounted Lease Balance is at least equal to the sum of (i) the Aggregate Capital PLUS (ii) the Loss Reserve.
The Transferor shall deliver or cause to be delivered to the Trustee not later than the Addition Date, a computer file or microfiche or written list containing a true and complete list of all Additional Leases then being transferred to the Trust, identified by account number and by the Discounted Lease Balance as of the related Additional Cut Off Date.
In the event of an early lease termination, any Substitute Lease must have a Discounted Lease Balance equal to or greater than that of the Early Termination Lease, monthly payments at least equal to those of the Early Termination through the remaining term of such Early Termination Lease, and a remaining term less than or equal to that of the Early Termination Lease.
Each Repurchase Notice shall specify (i) the purchase price, (ii) the date of Repurchase (the "PROPOSED REPURCHASE DATE") and (iii) after giving effect to such Repurchase, the Discounted Lease Balance and the Lender Percentage.
In the event of an early lease termination of an Early Termination Lease, any Additional Lease must have a Discounted Lease Balance equal to or greater than that of the Early Termination Lease, monthly payments at least equal to those of the Early Termination Lease through the remaining term of such Early Termination Lease, and a remaining term less than or equal to that of the Early Termination Lease.

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:

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:

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.

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.

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).