Excess Wear and Use definition

Excess Wear and Use means, for a Leased Vehicle, the amount assessed under the related Lease for damages to the Leased Vehicle that are not the result of normal wear and use, whether or not the assessed amount is waived or collected.
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Examples of Excess Wear and Use in a sentence

  • 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 will require the Lessee to pay Excess Wear and Use or Excess Mileage as required by the terms of the related Lease.

  • On return of a Leased Vehicle by the related Lessee to the Dealer, the Servicer will cause the Leased Vehicle to be inspected for Excess Wear and Use, Excess Mileage, and any required repairs and will cause a vehicle condition report (unless the Dealer is purchasing the Leased Vehicle) to be delivered to the Servicer.

  • Excess Wear and Use Waivers The bill authorizes a retail lessee to contract with a retail lessor for an “excess wear and use waiver,” which is an agreement wherein the lessor agrees to cancel all or part of amounts that may become due under the lease because of excessive wear and use of a motor vehicle.

  • Excess Wear and Use Coverage Excess wear and use coverage can be added to a lease agreement to protect lessees from incurring additional charges related to damages or excessive wear on the leased vehicle.34 The liability under most open-end leases is influenced by the vehicle's wear, significantly impacting financial obligations.

  • 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 2022-1 Leases that are terminated early by the related Lessee in the absence of a “pull-ahead” or other marketing program.

  • 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 2018-1 Leases that are terminated early by the related Lessee in the absence of a “pull-ahead” or other marketing program.

  • 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 2017-2 Leases that are terminated early by the related Lessee in the absence of a “pull-ahead” or other marketing program.

  • 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 2016-2 Leases that are terminated early by the related Lessee in the absence of a “pull-ahead” or other marketing program.

  • 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 20[__]-[__] Leases that are terminated early by the related Lessee in the absence of a “pull-ahead” or other marketing program.

Related to Excess Wear and Use

  • Wear and tear means damage or a reduction in value through age, ordinary use or lack of maintenance.

  • Fair Wear and Tear means deterioration in the working order, repair, condition and appearance of the Vehicle as is reasonably consistent with careful maintenance and use. For example, the following are not considered fair wear and tear: • Body work damage – scrapes and scratches where the paint surface is broken and repainting is necessary or paint discolouration on the exterior of the Vehicle; rust; dents or other impact damage; broken or cracked glass. • Interior and boot, carpet and trim – tears, rips and cuts to seats, interior trim, carpets and head lining, oil, glue, chemicals and other substances which cannot be removed using upholstery cleaners; or cigarette xxxxx. • Missing engine components and/or accessories.

  • Normal wear and tear means deterioration that occurs without negligence, carelessness, accident, or abuse.

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

  • Exclusive Use Area means a part or parts of the common property for the exclusive use by the owner or owners of one or more sections;

  • Direct Damage has the meaning given to it in clause 26.2;

  • Excess property means property under the control of any Federal awarding agency that, as determined by the head thereof, is no longer re- quired for its needs or the discharge of its responsibilities.

  • Contract Item or “Contract Items” means the list of items identified in Section

  • 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.)

  • Normal Maximum Generation means the highest output level of a generating resource under normal operating conditions.

  • Severe property damage means substantial physical damage to property, damage to the treatment facilities which would cause them to become inoperable, or substantial and permanent loss of natural resources which can reasonably be expected to occur in the absence of a bypass. Severe property damage does not mean economic loss caused by delays in production.

  • Customer’s Premises means the land and buildings owned or occupied by a Customer, and any land over which the Customer has an easement or right to pass electricity, including:

  • Electrical Losses means all applicable losses, including the following: (a) any transmission or transformation losses between the CAISO revenue meter(s) and the Delivery Point; and (b) the Distribution Loss Factor, if applicable.

  • Premises Building Partial Damage means if the Building of which the Premises are a part is damaged or destroyed to the extent that the cost to repair is less than fifty percent (50%) of the then Replacement Cost of the building.

  • Normal Minimum Generation means the lowest output level of a generating resource under normal operating conditions.

  • Operating Cost means the costs associated with operating a multifamily development once the project is placed in service.

  • Excess Special Hazard Loss Any Special Hazard Loss, or portion thereof, that exceeds the then applicable Special Hazard Amount.

  • Resort Complex means the hotel, convention centre/theatre restaurant, exhibition centre, recreation facilities and Burswood Casino to be constructed on the Site pursuant to and in accordance with the provisions of this Agreement and includes, if and when constructed, Stage 2;

  • Area of shallow flooding means a designated AO or AH Zone on a community's Flood Insurance Rate Map (FIRM) with one percent or greater annual chance of flooding to an average depth of one to three feet where a clearly defined channel does not exist, where the path of flooding is unpredictable and indeterminate; and where velocity flow may be evident. Such flooding is characterized by ponding or sheet flow.

  • Maximum design heat input means the ability of a unit to combust a stated maximum amount of fuel per hour on a steady state basis, as determined by the physical design and physical characteristics of the unit.

  • excess risks means, in relation to a Ship, the proportion of claims for general average, salvage and salvage charges not recoverable under the hull and machinery policies in respect of the Ship in consequence of its insured value being less than the value at which the Ship is assessed for the purpose of such claims;

  • Excess Withdrawal is a withdrawal of Account Value that exceeds the Free Withdrawal Amount. This term may not apply to your Contract.

  • Property damage means physical injury to, destruction of, or loss of use of tangible property.

  • 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.

  • Contract Demand means:-

  • Environmental Damage means any material injury or damage to persons, living organisms or property or any material pollution or impairment of the environment resulting from the discharge, emission, escape or migration of any substance, energy, noise or vibration;