Matured Vehicle definition

Matured Vehicle as of any date means any Leased Vehicle the related Lease of which has reached its Maturity Date or has been terminated in connection with a Lessee Initiated Early Termination (and the Lessee is not in default under such Lease) or in connection with a Casualty Termination, which Leased Vehicle has been returned to the Servicer on behalf of the Titling Trust, if applicable.

Matured Vehicle means, as of any date, any Leased Vehicle the related Lease Agreement of which is a Matured Lease or has been terminated by the related Lessee prior to the Maturity Date (and the Lessee is not in default under such Lease Agreement), which Leased Vehicle has been returned to the Servicer on behalf of the Titling Trust.

Matured Vehicle means a 2019-1 Vehicle for which the related 2019-1 Lease has reached its Maturity Date.

Examples of Matured Vehicle in a sentence

• After the Servicer has made a Sales Proceeds Advance with respect to a Matured Vehicle, the Issuing Entity shall have no claim against or interest in such Matured Vehicle or any Net Auction Proceeds resulting from the sale or other disposition thereof, except with respect to any related Residual Value Surplus.

• After the Servicer has made a Sales Proceeds Advance with respect to a Matured Vehicle, the Trust shall have no claim against or interest in such Matured Vehicle or any Net Auction Proceeds resulting from the sale or other disposition thereof, except with respect to any related Residual Value Surplus.

• After the Servicer has made a Sales Proceeds Advance with respect to a Matured Vehicle, the Issuer shall have no claim against or interest in such Matured Vehicle or any Sales Proceeds or Termination Proceeds, as the case may be, resulting from the sale or other disposition thereof.

• If the Servicer shall sell or otherwise dispose of a Matured Vehicle after having made a Sales Proceeds Advance, the Issuer may retain all of such Sales Proceeds Advance, and the Servicer shall retain the related Sales Proceeds or Termination Proceeds, as the case may be, up to the Securitization Value of the related Lease, and will deposit any Sales Proceeds or Termination Proceeds, as the case may be, in excess of the Securitization Value into the SUBI Collection Account.

• If the Servicer has not sold a Matured Vehicle within 90 days after it has made a Sales Proceeds Advance, it shall be reimbursed for such Sales Proceeds Advance as part of the Payment Date Advance Reimbursement in accordance with Section 2.4(b)(i).

More Definitions of Matured Vehicle

Matured Vehicle means a 2023-2 Vehicle for which the related 2023-2 Lease has reached its Maturity Date.

Matured Vehicle means a 20[__]-[__] Vehicle for which the related 20[__]-[__] Lease has reached its Maturity Date.

Matured Vehicle means a 2016-2 Vehicle for which the related 2016-2 Lease has reached its Maturity Date.

Matured Vehicle as of any date means any 1997-A Leased Vehicle the related 1997-A Lease of which has reached its Maturity Date and as to which all scheduled Monthly Lease Payments and other payments due thereunder have been made, and which Leased Vehicle has been returned to the Servicer on behalf of the Origination Trustee, on behalf of the Origination Trust, regardless of the status of the disposition of such 1997-A Leased Vehicle as of such date.

Matured Vehicle as of any date shall mean any Leased Vehicle the related Lease of which has reached its Lease Maturity Date, which Leased Vehicle has been returned to the Servicer.

Matured Vehicle means a 2024-2 Vehicle for which the related 2024-2 Lease has reached its Maturity Date.

Matured Vehicle. , as of any date, means any Leased Vehicle, the related Contract of which has reached its Maturity Date, and which Leased Vehicle has been returned to the Servicer on behalf of the Titling Trust (or the Titling Trustee on behalf of the Titling Trust), regardless of the status of the sale or disposition of such Leased Vehicle as of the date of such return.