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 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:
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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 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.

  • 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 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.

  • 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.

  • 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.

  • 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.


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. (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, 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 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, as of any date of determination, the sum of (a) the Equity Balance (if same has not been paid as of such date)

  • 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 Defaulted Lease that is terminated and charged off by the Servicer prior to its Maturity Date.

  • 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 the principal portion of 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.

  • Capitalized Lease Obligation means, as to any Person, the obligations of such Person under a lease that are required to be classified and accounted for as capital lease obligations under GAAP and, for purposes of this definition, the amount of such obligations at any date shall be the capitalized amount of such obligations at such date, determined 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.

  • 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.

  • 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 a 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 means, with respect to any Person, obligations of such Person and its Subsidiaries under Capitalized Leases, and, for purposes hereof, the amount of any such obligation shall be the capitalized amount thereof determined in accordance with GAAP.

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

  • Rent Expense means, for any Person for any period of determination, such Person’s operating lease expense computed in accordance with GAAP, including, without limitation, all contingent rentals, but excluding all common area maintenance expenses.

  • Applicable Monthly Payment For any Mortgage Loan (including an Outside Serviced Mortgage Loan) with respect to any month (including any such Mortgage Loan as to which the related Mortgaged Property has become an REO Property), the Monthly Payment; provided, however, that for purposes of calculating the amount of any P&I Advance required to be made by the Master Servicer or the Trustee, notwithstanding the amount of such Applicable Monthly Payment, interest shall be calculated at the Mortgage Rate less the Servicing Fee Rate and, if applicable, shall be exclusive of Excess Interest; and provided, further, that for purposes of determining the amount of any P&I Advance, the Monthly Payment shall be as reduced pursuant to any modification of a Mortgage Loan pursuant to Section 3.24 of this Agreement or pursuant to the applicable Outside Servicing Agreement, or pursuant to any bankruptcy, insolvency, or other similar proceeding involving the related Mortgagor.

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

  • 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.

  • Amount Financed means, with respect to a Receivable, the aggregate amount advanced under such Receivable toward the purchase price of the Financed Vehicle and any related costs, including amounts advanced in respect of accessories, insurance premiums, service contracts, car club and warranty contracts, other items customarily financed as part of motor vehicle retail installment sale contracts or promissory notes, and related costs.

  • Lease Payment means any form of payment, including a land lease, by a public entity to the private entity for the use of a qualifying project.

  • Base Monthly Rent means the fixed monthly rent payable by Tenant pursuant to Section 3.1 which is specified in Section K of the Summary.

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).