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.

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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 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.

Examples of Lease Receivable in a sentence

• The making of such substitution shall be subject to the satisfaction of the conditions set forth in subsection 5.2, including in each case, without limitation, the delivery of an Assignment and FAA Assignment or a Foreign Assignment, as applicable, with respect to each such Substituted Lease Receivable on or before the Business Day such Substituted Lease Receivable is substituted.

• 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.

• Prior to the termination of this Agreement, the obligations of the Servicer under this Agreement shall not be subject to any defense, counterclaim or right of offset that the Servicer has or may have against the Transferor, whether in respect of this Agreement, any Lease Contract, Lease Receivable, Equipment or otherwise.

• The calculation of the Implicit Principal Balance of each Lease Receivable does not include any security deposits or advance payments collected by or on behalf of the lessor which are applied to Scheduled Payments.

More Definitions of Lease Receivable

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

Lease Receivable means a Receivable arising under a Vehicle Lease.

Lease Receivable. Shall have the meaning set forth in the Receivables Purchase Agreement.

Lease Receivable means, with respect to any Lease at any time, any Periodic Installments of Rent then or thereafter payable by the Obligor under such Lease, or any supplemental or additional payment, if any, required by the terms of such Lease with respect to insurance, maintenance, ancillary products and services and other specific charges, excluding any such payments or charges which constitute sales or use taxes, personal property taxes, or the price for a purchase option.

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 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.