Novated Lease means, for any Lease subject to a Lease Novation, such Lease as novated to the Purchaser or New Lessor (as appropriate) of the Aircraft the subject of such Lease, and as amended by the applicable Lease Novation.
Novated Lease means the Lease as novated, supplemented and amended by this Agreement.
Novated Lease means an Employee's lease of a motor vehicle from a finance company novated by the finance company to the Employer for the
Examples of Novated Lease in a sentence
All vehicle maintenance and repairs will be provided other than for the CEO if the Novated Lease option of the CEO’s contract is elected, in which case the contract conditions will prevail.
Terms used in this Supplement shall have the meanings given to them in the Agreement and the Novated Lease.
The Employee may only salary package a Novated Lease through a Novated Leasing Service Provider.
Each Aircraft shall as of the applicable Delivery Date be free and clear of all Security Interests other than the Novated Lease and Permitted Liens.
A Novated Lease is a three-way agreement between the employee, the employer and a lease company.
More Definitions of Novated Lease
Novated Lease means an arrangement entered into between an employee, employer and a financier whereby the employee and the financier enter into a lease of an asset, such lease which is then novated from the employee to the employer and this novation remains in force while the employee remains employed by the employer. During that period, the employer is liable to make the lease payments under the lease (generally as part of salary sacrifice arrangements with the employee). If the employee ceases to be employed by the employer, the obligations under the lease revert to the employee.
Novated Lease means the Lease Agreement as novated and amended by this Agreement. Capitalized terms used, but not defined, in this Agreement shall have the respective meanings assigned to them in the Lease Agreement. The provisions of Part II of Schedule 1 to the Lease Agreement shall apply to this Agreement as if set out herein in full and as if references therein to “this Agreement” were references to this Agreement.
Novated Lease means an Employee's lease of a car from a finance company novated by the finance company to the Employer for the Employer to provide as a Benefit Item to the Employee, including arrangements associated with that lease, such as fully maintained novated lease arrangements.
Novated Lease means an agreement between New Lessor and Lessee on the same terms as the Lease, subject to the amendments specified in this Agreement.
Novated Lease means the Lease as novated, amended and supplemented by this Agreement; ‘‘Previous Parties’’ means ***;
Novated Lease has the meaning given to it in the background paragraphs.