Excess Mileage definition

Excess Mileage means, with respect to any Financed Vehicle securing a Final Payment Receivable, the amounts payable by the related Obligor relating to the excess of the number of miles by which such Financed Vehicle has been driven over the number of miles such Financed Vehicle may be driven during the term of the related Final Payment Receivable (as specified in the Contract related to such Final Payment Receivable) without incurring an excess mileage charge pursuant to the related Contract, net of the amount, if any, payable to a third party collection agency as payment of its fees and expenses in connection with collecting such amounts from the related Obligor.
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Excess Mileage means the surplus mileage by which the Actual Mileage exceeds (on a pro rata basis) the Estimated Annual Mileage;
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Excess Mileage means, for a Leased Vehicle, the amount assessed under the related Lease for the excess of the number of miles that the Leased Vehicle has been driven over the number of miles the Leased Vehicle may be driven during the term of the Lease without an excess mileage charge, whether or not the assessed amount is waived or collected.
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Examples of Excess Mileage in a sentence

  • The Servicer shall, pursuant to the related Contract, offset (x) the cost of repairs for Excess Wear and Tear as determined by the appraisal, any charges for Excess Mileage and the disposition fee payable to the Servicer pursuant to the related Contract, and the Principal Balance, accrued interest and any other amounts owed by the Obligor on the Receivable against (y) the purchase price otherwise due to the Obligor for the Financed Vehicle, and shall collect any excess of (x) over (y) from the Obligor.

  • Following such early termination, the Servicer shall charge the related Lessee any applicable Excess Wear and Tear Charges and Excess Mileage Charges in accordance with Customary Servicing Practices with respect to Leases that are terminated early by the related Lessee in the absence of a “pull-ahead” or other marketing program.

  • If, at such time, the Obligor under the Final Payment Receivable has notified MMCA on behalf of the Trust that it elects to sell the Financed Vehicle to MMCA on behalf of the Trust in accordance with the terms of the Receivable, the Servicer shall, upon delivery of the Financed Vehicle by the Obligor to MMCA on behalf of the Trust, inspect the Financed Vehicle for Excess Wear and Tear and Excess Mileage, and determine the necessity of any repairs.

  • Following such early termination, the Servicer shall charge the related Lessee any applicable Excess Wear and Use Payments and Excess Mileage Payments in accordance with customary servicing practices with respect to Leases that are terminated early by the related Lessee in the absence of a “pull-ahead” or other marketing program.

  • The Servicer shall require the Lessee to pay the Excess Wear and Excess Mileage Charges for each Leased Vehicle in accordance with the terms of the applicable Lease.

  • In connection with any Pull Ahead Lease Asset, the Servicer shall charge the related Lessee any applicable Excess Wear and Excess Mileage Charges in accordance with the related Lease and the Servicer’s Customary Servicing Practices, and the Servicer shall deposit any amounts received from the related Lessee on account thereof into the ACOLT Collection Account in accordance with Article III of this Agreement.

  • In no event may any Program Vehicle be sold pursuant to this paragraph 8 (other than pursuant to a Vehicle Disposition Program) unless the funds to be paid to the Lessor arising out of such sale exceed the Net Book Value of such Vehicle less reasonably predictable Excess Mileage charges, Excess Damage Charges and other similar charges imposed by the Manufacturer.

  • The applicable Excess Mileage Fee is payable by You to Apollo on return of the Vehicle.

  • If, at such time, the Obligor under the Final Payment Receivable has notified MMCA on behalf of the Trust that it elects to sell the Financed Vehicle to MMCA on behalf of the Trust in accordance with the terms of the Receivable, the Servicer shall, upon delivery of the Financed Vehicle by the Obligor to MMCA on behalf of the Trust, inspect the Financed Vehicle for Excess Wear and Tear and Excess Mileage, and to determine the necessity of any repairs.

  • We will use our reasonable endeavours to accommodate any such request subject to availability, changes to the Rental Charges depending on the Vehicle and other charges may be applicable (for example, for Additional Equipment), as well as payment of the Administration Fee, Damage or for Excess Mileage calculated on a pro-rata basis).


More Definitions of Excess Mileage

Excess Mileage means the surplus mileage by which the Actual Mileage exceeds the Estimated Annual Mileage.
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Excess Mileage. With respect to a Covered Lease, the billable excess mileage in accordance with the lease contract for such Covered Lease, whether or not billed or recovered.
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Excess Mileage means, for any Leased Vehicle, the excess of the number of miles by which such Leased Vehicle has been driven over the number of miles such Leased Vehicle may be driven during the term of the related Lease without incurring an excess mileage charge pursuant to the related Lease.
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Excess Mileage means, with respect to any Financed Vehicle securing a Final Payment Receivable, the amounts payable by the related Obligor relating to the excess of the number of miles by which such Financed Vehicle has been driven over the number of miles such Financed Vehicle may be driven during the term of the related Final Payment Receivable (as specified in the Contract related to such Final Payment Receivable) without incurring an excess mileage charge pursuant to the related Contract.
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Related to Excess Mileage

  • 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.

  • Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month.

  • Prepaid Monthly Payment Any Monthly Payment received prior to its scheduled Due Date, which is intended to be applied to a Mortgage Loan on its scheduled Due Date and held in the related Custodial Account for P&I until the Withdrawal Date following its scheduled Due Date.

  • Excess Fraud Loss Any Fraud Loss, or portion thereof, which exceeds the then applicable Fraud Loss Amount.

  • Excess Bankruptcy Loss Any Bankruptcy Loss, or portion thereof, which exceeds the then applicable Bankruptcy Amount.

  • Maximum Contract Value means the amount specified in the "Limitation of Expenditure" clause set out in the Contract; and

  • Potential electrical output capacity means, with regard to a unit, 33 per- cent of the maximum design heat input of the unit.

  • Delinquency Amount means, as of any Distribution Date, the Principal Balance of all Contracts that were delinquent 60 days or more as of the end of the related Due Period (including Contracts in respect of which the related Motorcycles have been repossessed and are still in inventory).

  • Payment month means, for all programs except EA, the calendar month for which benefits are issued.

  • Excess Cash Flow Payment Period means, with respect to the repayment required on each Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • Net Monthly Excess Cash Flow For any Distribution Date the amount remaining for distribution pursuant to subsection 4.02(a)(iii) (before giving effect to distributions pursuant to such subsection).

  • Excess emissions - means an emission rate that exceeds any applicable emission limitation or standard allowed by any rule in Sections .0500, .0900, .1200, or .1400 of Subchapter 02D; or by a permit condition; or that exceeds an emission limit established in a permit issued under 15A NCAC 02Q .0700. (Note: Definitions of excess emissions under 02D .1110 and 02D .1111 shall apply where defined by rule.)

  • Assumed Monthly Payment With respect to (a) any Mortgage Loan that is a Balloon Mortgage Loan delinquent in respect of its Balloon Payment beyond the Determination Date immediately following its scheduled maturity date (as such date may be extended in connection with a bankruptcy, insolvency or similar proceeding involving the related Borrower or by reason of a modification, waiver or amendment granted or agreed to by the Master Servicer or the Special Servicer), for that scheduled maturity date and for each subsequent Due Date as of which such Mortgage Loan remains outstanding and part of the Trust Fund, the scheduled monthly payment of principal and/or interest deemed to be due with respect to such Mortgage Loan on such Due Date equal to the amount (exclusive of Default Interest and any Post-ARD Additional Interest) that would have been due in respect thereof on such Due Date if such Mortgage Loan had been required to continue to accrue interest in accordance with its terms, and to pay principal in accordance with the amortization schedule (if any), in effect immediately prior to, and without regard to the occurrence of, such maturity date; and (b) any REO Mortgage Loan, for any Due Date as of which the related REO Property (or, in the case of any REO Mortgage Loan that is a successor to any Mortgage Loan in a Loan Combination, any interest in the related REO Property) remains part of the Trust Fund, the scheduled monthly payment of principal and/or interest deemed to be due in respect thereof on such Due Date equal to the Monthly Payment (or, in the case of a Balloon Mortgage Loan described in clause (a) of this definition, the Assumed Monthly Payment) that was due (or deemed due) with respect to the related Mortgage Loan on the last Due Date prior to its becoming an REO Mortgage Loan.

  • Monthly Payment The scheduled monthly payment of principal and interest on a Mortgage Loan.

  • Excess Cash Flow Payment Date means the date occurring 90 days after the last day of a fiscal year of the Parent (commencing with its fiscal year ending December 31, 2000).

  • Excess Loss The amount of any (i) Fraud Loss realized after the Fraud Loss Coverage Termination Date, (ii) Special Hazard Loss realized after the Special Hazard Coverage Termination Date or (iii) Bankruptcy Loss realized after the Bankruptcy Coverage Termination Date.

  • Declared Monthly Consumption means the Declared Monthly Consumption set out in the Acceptance Form for Electricity Supply.

  • Delinquency Test means, for any Payment Date, a test that will be satisfied if:

  • Monthly Payments has the meaning set forth in Section 7.2B.

  • Monthly Payment Amount means, with respect to each Payment Date, a payment equal to the amount of interest which has accrued during the related Interest Accrual Period, computed at the Interest Rate.

  • Monthly Payment Date means the Payment Date (as defined in the Mortgage Loan Documents).

  • Excess capacity means volume or capacity in a duct, conduit, or support structure other than a utility pole or anchor which can be used, pursuant to the orders and regulations of the Commission, for a pole attachment.

  • Excess means an amount of money paid in a calendar year towards the cost of each hospital episode of care up to an annual maximum before fund benefits are payable.

  • Excess Contribution With respect to any Plan Year, the excess of: (a) the aggregate amount of Employer contributions actually taken into account in computing the ADP of Highly Compensated Employees for such Plan Year, over (b) the maximum amount of such contributions permitted by the ADP Test (determined by hypothetically reducing contributions made on behalf of Highly Compensated Employees in order of the ADPs, beginning with the highest of such percentages).

  • Monthly Remittance Amount The sum of the Group I Monthly Remittance Amount and the Group II Monthly Remittance Amount.

  • Monthly Excess Cashflow For any Distribution Date, an amount equal to the sum of the Monthly Excess Interest and Overcollateralization Release Amount, if any, for such date.