Lease Receivables definition
Examples of Lease Receivables in a sentence
Lease Receivables - with respect to any Lease, all amounts owing by the Lessee thereunder.
The Factoring Bank has agreed to receive such creditor’s rights and relevant rights of the Lease Receivables and provide lease factoring services to the Company.
At the relevant time of reference thereto, and as the context may require, the discounted present value of Direct Finance Lease Receivables, discounted at the Direct Finance Lease Rate per annum of the remaining term of the applicable Direct Finance Lease.
The Borrower shall also permit the Agent to arrange for verification of Eligible Lease Receivables, under reasonable procedures, directly with any account debtors or by other methods.
The Borrower agrees that, should it receive any such payments or any proceeds for or with respect to the Collateral or as the result of the sale or other disposition thereof (other than payments or proceeds properly received in accordance with the Basic Agreements), it shall hold such payments or proceeds in trust for the benefit of the Lenders and shall promptly forward such payments or proceeds to the Lease Receivables Account or in accordance with the Security Trustee’s instructions.