Performing Lease definition
Performing Lease means, as of any date of determination, a Program Receivable that (a) is not more than 60 days past due as of the close of business on such date; (b) is Open; (c) is Active; (d) has a blank Status Code; and (e) has a blank Class Code.
Performing Lease means, as of any date of determination, any Eligible Lease that is not an Early Eligible Lease, a 1F1-Eligible Lease, a 2F2-Eligible Lease or a Late Eligible Lease.
Performing Lease means, as of any date of determination, any Eligible Lease that is not an Early Eligible Lease, a 1F1-Eligible Lease, a 2F2-Eligible Lease, a Late-Eligible Lease or a Test Merchandise Lease.
Examples of Performing Lease in a sentence
No Performing Lease that would otherwise be a Past Due Lease has been restructured, and no agreements to defer, or change the schedule of, any payments due under any Performing Lease have been made within such time period.
It is further understood that the sole remedy for any breach of the representations and warranties with respect to any Lease other than a Performing Lease shall be monetary damages, and that the aggregate amount of all such damages shall be limited to a maximum of $200,000 for all such breaches.
No Performing Lease requires any current or future payment to a third party originator.
More Definitions of Performing Lease
Performing Lease means, as of any Determination Date, any Lease with respect to which the Obligor has paid all payments then due.
Performing Lease means, as of any Determination Date, any Lease with respect to which the Obligor has paid all payments then due. "Person" means any individual, corporation, estate, partnership, joint venture, association, joint stock company, trust (including any beneficiary thereof), unincorporated organization or government or any agency or political subdivision thereof.
Performing Lease means, as of a specified date, a lease, a lease commitment or a binding offer to lease from a lessee or a proposed lessee, as applicable, (i) which is subject to a Qualified Use Commitment and (ii) under which no event of default exists as specified in the subject lease, lease commitment or offer to lease, as applicable.
Performing Lease means a Lease that is not (i) a Past Due Lease, (ii) a Suspended Lease, or (iii) a Lease that is subject to any pending repossession action or that is subject to any pending repossession action or as to which Seller has received a notice of an event that is, or with notice and/or lapse of time is likely to constitute, a material default or of any claim by a lessee or guarantor of a right of offset or counterclaim (as referenced in Section 6(h)(x) and identified on Schedule 6(h)(x)).