Lease Assets definition

Lease Assets has the meaning set forth in Section 2.4(a).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Lease Assets means, with respect to any lease, all of the following property and interests in property whether now existing or existing in the future or hereafter acquired or arising: (a) all vehicles or equipment manufactured, refurbished or sold by the Company or any of its Subsidiaries (and truck chassis, cement block boom trucks and similar vehicles manufactured or refurbished by third parties) and acquired by a Leasing Subsidiary in connection with such assets being leased to a third party; (b) all leases and other contracts or agreements relating to the lease financing by a customer of vehicles or equipment manufactured, refurbished or sold by the Company or any of its Subsidiaries; (c) all accounts receivable and other obligations incurred by lessees in connection with the foregoing, no matter how evidenced; (d) all rights to any vehicles or equipment subject to any of the foregoing after or in connection with creation of the foregoing, including returned or repossessed goods; (e) all reserves and credit balances with respect to any such lease contracts or agreements or lessees; (f) all letters of credit, security or guarantees for any of the foregoing; (g) all insurance policies or reports relating to any of the foregoing; and (h) all books and records relating to any of the foregoing.

Lease Assets. The right-of-use asset(s) represents a lessee’s license to hold, operate, or occupy a leased item over the term of the lease

Examples of Lease Assets in a sentence

• If not previously provided in a calendar year with respect to such state, the Underwriters shall have received from local counsel, in each state where there is a concentration of 10% or more of the Lease Assets, an opinion dated as of the Closing Date (or as of any other date as specified by the rating agencies to maintain the required ratings on the Notes) as to the perfection of security interests in automobiles in such state.

• New Secured Party agrees to be bound by the terms thereof and hereby authorizes Collateral Agent to act on its behalf under the Collateral Agency Agreement with respect to its Designated Lease Assets set forth on Schedule I attached hereto.

• The Administrator shall, in accordance with its customary practices, policies and procedures and at its own expense, take such steps as are necessary to maintain perfection of the security interest created by each Secured Note in the Lease Assets and other First Step Purchased Property as set forth in Section 2.09 of the Servicing Agreement.

• The Servicer is duly qualified to do business as a foreign entity in good standing, and has obtained all necessary licenses and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business (including the servicing of the Lease Assets) requires or shall require such qualification.

• Each such amendment shall list all new account numbers assigned to Lease Assets during such Monthly Period and shall show by cross reference the prior account numbers identifying such Lease Asset on the Lease Assets Schedule.

More Definitions of Lease Assets

Lease Assets. The meaning specified in the Lease Acquisition Agreement.

Lease Assets means, in relation to a particular Series, the assets to be leased pursuant to and as set out in schedule 1 (Lease Assets) of the Supplemental Headlease Agreement for that Series, as such assets may be repaired, refurbished, upgraded or replaced from time to time;

Lease Assets means the Assets (as set out in Schedule 1 of the Lease Agreement), as such assets may be repaired, refurbished, upgraded or replaced from time to time as a result of:

Lease Assets. All right, title and interest in and to (a) the Lease Contracts, including the proceeds of the Lease Contracts and all payments received on or with respect to the Lease Contracts on or after the Cut-Off Date or any Acquisition Date, other than payments due on the Lease Contracts before the Cut-Off Date or Acquisition Date, (b) the Lease Contract Files, (c) the Company's rights and interests in the Equipment, (d) all rights and interests of the Company under each Insurance Policy related to the Lease Contracts and related Equipment and Insurance Proceeds, (e) the Servicing Charges with respect to the Lease Contracts and (f) all income and proceeds of the foregoing or relating thereto.

Lease Assets means the Lease Premises, Seller FF&E, and electronic medical record replacement.

Lease Assets means, in respect of a particular Series, the Shari’a-compliant assets to be leased as set out in the Lease Agreement for such Series;

Lease Assets. (or such substantially similar terms for such substantially similar assets as may be used from time to time).