Lease Receivable definition

Lease Receivable any Receivable (other than an ExIm Bank Receivable) created pursuant to a Contract which is a lease between Raytheon Credit, as lessor, and the Obligor thereunder, as lessee, with respect to the Aircraft described therein, other than any such Receivable which is also a L/C Receivable.

Lease Receivable means any Pool Receivable arising under a lease agreement, under which the related Obligor is the lessee and the Originator, immediately prior to the sale of such Receivable and the related Equipment to the SPV pursuant to the First Tier Agreement, is the lessor.

Lease Receivable means, with respect to any Lease at any time, all Scheduled Payments then or thereafter payable by the Obligor under such Lease, together with all supplemental or additional Payments required to be paid to Lessor by the terms of such Lease with respect to insurance (other than premiums) and other specific charges identified under such Lease, excluding any such payments or charges which constitute sales or other taxes or the price for a purchase option occurring at the end of the term of such Lease unless such payments, charges or price are Scheduled Payments.

Examples of Lease Receivable in a sentence

• Risk of Non-Existence of Purchased Lease Receivables In the event that any of the Purchased Lease Receivables have not come into existence at the time of its assignment to the Issuer under any Receivables Purchase Agreement, such assignment would not result in the Issuer acquiring ownership title in such Purchased Lease Receivable.

• Also VWL warrants as of the Cut-Off Date that each Purchased Lease Receivable is free of defences (see "DESCRIPTION OF THE PORTFOLIO" and "Warranties and Guarantees in relation to the Sale of the Purchased Lease Receivables").

• This result is independent of whether the Issuer, at the time of assignment, is unaware of the non-existence and therefore acts in good faith (gutgläubig) with respect to the existence of such Purchased Lease Receivable.

• Upon such substitution, the Principal Balance of the Replaced Lease Receivable shall be deemed to be reduced to zero.

• With respect to Lease Receivables sold or contributed hereunder, as of the date of such sale or contribution, each related lease agreement which gives rise to a Lease Receivable is or becomes effective and binding upon and enforceable against the related Obligor upon the payment by such Obligor of the first installment of the rentals under such lease agreement.

More Definitions of Lease Receivable

Lease Receivable means a Receivable arising from a Lease Agreement and consisting of the then-current lease payment due under the Lease Agreement.

Lease Receivable means any right to payment from a Person, whether constituting an account, chattel paper, instrument, or a general intangible (as such terms are defined under the UCC), arising from the lease of a Lease Device, by any Originator pursuant to a Lease Contract, including any payment obligations of such Person with respect thereto; provided, however that (A) no MTM Lease Receivable shall constitute a Lease Receivable, and (B) no right to payment or other indebtedness owing by a Sanctioned Person shall (i) constitute a Lease Receivable, (ii) be deemed to have been sold or contributed to the Sellers by the Originators pursuant to the Sale Agreement, or (iii) sold or pledged hereunder by the Sellers.

Lease Receivable means a Receivable arising under a Vehicle Lease.

Lease Receivable means as to any Borrower or any of its Subsidiaries, any right to payment (including, without limitation, lease, rental, principal, interest, stipulated loss, terminal adjustment of rents, penalties, fees, indemnification amounts or other payments and any payments by a rentee or lessee in respect of the purchase price for related Leased Property) under, or in respect of, any Lease or related Leased Property (including the right to liquidation or residual proceeds of such Leased Property).

Lease Receivable. As of any date of determination, each "Lease Receivable," as that term is defined in the Receivables Purchase Agreement; provided that, from and after the date, if any, on which such Lease Receivable -------- is purchased, removed or substituted by or on behalf of the Issuer in accordance with Section 4.04, such Lease Receivable shall no longer constitute a "Lease Receivable" for purposes of the Servicing Agreement or this Indenture.

Lease Receivable means any right to payment from a Person, whether constituting an account, chattel paper, instrument or a general intangible (as such terms are defined under the UCC), arising from the lease of a Lease Device, by any Originator pursuant to a Lease Contract, including any payment obligations of such Person with respect thereto; provided, however that (a) no right to payment or other indebtedness owing by a Sanctioned Person shall (i) constitute a Lease Receivable, (ii) be deemed to have been sold or contributed to the Sellers by the Originators pursuant to the Sale Agreement or (iii) sold or pledged hereunder by the Sellers and (b) Excluded Lease Receivables shall not constitute Lease Receivables.

Lease Receivable has the meaning set forth in the Receivables Purchase Agreement.