Lease Residual definition

Lease Residual. With respect to any Lease Asset, the lesser of the Stated Residual Value and the ALG Residual with respect to the related Leased Vehicle.
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Lease Residual with respect to any Series 20 -SN Lease Asset, the lesser of the Stated Residual Value and the ALG Residual for the related Vehicle.
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Examples of Lease Residual in a sentence

  • The Issuer has authorized the issuance of $__________ of _____% Class E Lease-Backed Notes, Series 1999-B (the "Class E Notes"), $__________ of _____% Class R-1 Lease Residual Backed Notes, Series 1999-B (the "Class R-1 Notes") and $__________ of _____% Class R-2 Lease Residual Backed Notes, Series 1999-B (the "Class R-2 Notes;" collectively with the Class R-1 Notes, the "Class R Notes;" and collectively with the Class E Notes, the "Notes").

  • Seller and Buyer shall execute and deliver the Lease Residual Agreement in the form attached hereto as Exhibit 8(b), pursuant to which Buyer assigns to Seller an interest in, and agrees to pay to Seller, a portion of all amounts received on account of or in connection with certain actions relating to the Leases, all future leasing arrangements involving the Equipment, and the Equipment.

  • The Issuer has authorized the issuance of $________ of ___% Class E Lease-Backed Notes, $______ of ___% Class R-1 Lease Residual Backed Notes and $______ of ___% Class R-2 Lease Residual Backed Notes (collectively, the "Class R Notes") Series 1998-A (the "Notes").

  • Lease Residual Risk (This section should be read in conjunction with Significant Factor 1 and the Operating Lease Assets section.) Lease residual risk associated with retail automobile and commercial equipment leases is the potential for declines in the fair market value of the vehicle or equipment below the maturity value estimated at origination.

  • The Issuer has authorized the issuance of $___________ of ____% Class E Lease-Backed Notes, $___________ of ____% Class R-1 Lease Residual Backed Notes and $___________ of ____% Class R-2 Lease Residual Backed Notes (collectively, the "Class R Notes") Series 1998-A (the "Notes").

  • Xxxx publishes, approximately six (6) times per year, an Automobile Lease Residual Guide (the “Residual Guide”) and periodic bulletins which it distributes to its automobile dealer network.

Related to Lease Residual

  • Base Residual Value means, for a Lease, the lower of (a) the Contract Residual Value of the Lease and (b)(i) the ALG Residual Value of the related Leased Vehicle or (ii) if the Servicer does not have an ALG Residual Value, the oldest ALG MTM Residual Value that the Servicer has for the related Leased Vehicle.

  • ALG Residual Value means the residual value of the vehicle set forth as the ALG Residual Value in the Lease schedule attached as Exhibit A hereto, which shall be the lesser of (i) the ALG residual values of the 2015-1 Vehicles at the scheduled termination of the related 2015-1 Leases at the time the related 2015-1 Lease was signed and (ii) the ALG residual values of the 2015-1 Vehicles at the scheduled termination of the related 2015-1 Leases provided by ALG in November 2014.

  • Residual means, with respect to any Lease, any right of the lessor or its assigns, as owner of the underlying Equipment, to realize value from the related Equipment after termination of the Lease, including the right of the owner of the Equipment to receive any proceeds from the sale, re-lease, continued use or other disposition of the Equipment after the termination of the Lease.

  • Residual Value means the proceeds, less removal and disposal costs, if any, realized upon disposition of a tangible capital asset. It usually is measured by the net proceeds from the sale or other disposition of the asset, or its fair value if the asset is traded in on another asset. The estimated residual value is a current forecast of the residual value.

  • or "Residual Loss means any item of gain or loss, as the case may be, of the Partnership recognized for federal income tax purposes resulting from a sale, exchange or other disposition of a Contributed Property or Adjusted Property, to the extent such item of gain or loss is not allocated pursuant to Section 6.2(b)(i)(A) or 6.2(b)(ii)(A), respectively, to eliminate Book-Tax Disparities.

  • Class R-1 Residual Interest The uncertificated undivided beneficial interest in REMIC I which has been designated as the single class of “residual interest” in REMIC I pursuant to Section 2.06.

  • Class R-2 Residual Interest The uncertificated undivided beneficial interest in REMIC II which has been designated as the single class of “residual interest” in REMIC II pursuant to Section 2.11. The Class R-2 Residual Interest, together with the REMIC II Regular Interests, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC II Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

  • Rental unit means a structure or part of a structure used as a home, residence, or sleeping unit by a single person or household unit, or any grounds, or other facilities or area promised for the use of a residential tenant and includes, but without limitation, apartment units, boarding houses, rooming houses, mobile home spaces, and single and 2-family dwellings.

  • Residual Funding Facility means any funding arrangement with a financial institution or institutions or other lenders or purchasers under which advances are made to the Company or any Subsidiary based upon residual, subordinated or retained interests in Receivables Entities or any of their respective securities, debt instruments or other Indebtedness.

  • Operating Period means the period commencing from the Commercial Operation Date, until the last day of the Term of this Agreement or date of earlier termination of this Agreement in accordance with Article 2 of this Agreement;

  • Rental Vehicle means a New Vehicle less than two years old owned by a New Vehicle Borrower and purchased directly from a manufacturer as a New Vehicle and that is used as a service loaner vehicle or is periodically subject to a rental contract with customers of the New Vehicle Borrower for loaner or rental periods of up to thirty (30) consecutive days or is used by dealership personnel in connection with parts and service operations.

  • Class R Residual Interests The Class R-1 and Class R-2 Residual Interests (which shall be transferable only as a unit evidenced by the Class R Certificates, in accordance with the applicable provisions of Section 5.01).

  • Capitalized Lease of a Person means any lease of Property by such Person as lessee which would be capitalized on a balance sheet of such Person prepared in accordance with Agreement Accounting Principles.

  • Residual Gain or “Residual Loss” means any item of gain or loss, as the case may be, of the Partnership recognized for federal income tax purposes resulting from a sale, exchange or other disposition of a Contributed Property or Adjusted Property, to the extent such item of gain or loss is not allocated pursuant to Section 6.2(b)(i)(A) or Section 6.2(b)(ii)(A), respectively, to eliminate Book-Tax Disparities.

  • Lease Supplement means a Lease Supplement, substantially in the form of Schedule 2 hereto, to be entered into between Lessor and Lessee on the Delivery Date for the purpose of leasing the Aircraft under and pursuant to the terms of this Agreement, and any subsequent Lease Supplement entered into in accordance with the terms of this Agreement.

  • Recapture Income means any gain recognized by the Partnership (computed without regard to any adjustment required by Section 734 or Section 743 of the Code) upon the disposition of any property or asset of the Partnership, which gain is characterized as ordinary income because it represents the recapture of deductions previously taken with respect to such property or asset.

  • Upper-Tier Residual Interest The sole class of “residual interests”, within the meaning of Code Section 860G(a)(2), in the Upper-Tier REMIC and evidenced by the Class R Certificates.