Program Operating Lease definition

Program Operating Lease means that certain program operating lease, dated as of October 1, 1999, between the Transferor and the Issuer.
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Program Operating Lease means the agreement dated November 26, 1996 between RCL Trust 1996-1, as Program Lessee, and the Lease Trustee, as Program Lessor, as amended from time to time.
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Program Operating Lease means that certain SUBI lease, dated as of October 1, 1999, between Ryder Funding LP, as Program Lessee and Ryder Vehicle Lease Trust 1999-A, as Program Lessor.
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Examples of Program Operating Lease in a sentence

  • The Issuer agrees to give the Indenture Trustee and each Rating Agency prompt written notice of each Indenture Default hereunder on the part of the Administrator and each Program Operating Lease Default on the part of the Transferor as lessee under the Program Operating Lease.

  • The term of this Program Operating Lease (the "Lease Term") shall begin on the Closing Date and shall end on the earlier of the date on which (a) all assets of the Program Lessee have been applied to pay its obligations under the Basic Documents and (b) the Lease Trust Certificates and the Program Lessee's obligations under the Basic Documents are paid in full.

  • Sublessor and Sublessee have duly authorized, executed and delivered this Sublease as of the date first hereinabove set forth.

  • The single executed original of this Program Operating Lease marked "Original" and containing the receipt of the Indenture Trustee thereon shall be the "Original" of this Program Operating Lease.

  • The Program Lessee may not renew the term of this Program Operating Lease.

  • Each such Registered Pledgee shall have the rights with respect thereto described herein and in the Program Operating Lease.

  • Except as set forth in Sections 12.1 and 12.2, the Program Lessee shall not assign, pledge, sell, transfer, sublease or otherwise dispose of its interest under this Program Operating Lease at any time.

  • Whenever used in this Program Operating Lease capitalized terms have the meanings assigned to them herein or, if not defined herein, as defined in Appendix A attached hereto.

  • The Lease Trustee agrees to give the Indenture Trustee and the Rating Agencies prompt written notice of each Event of Default hereunder on the part of the Administrative Agent and each Lease Event of Default on the part of the RCL Trustee as lessee under the Program Operating Lease.

  • No rescission or termination of this Program Operating Lease, in whole or in part, or repossession of the Series 1996-1 Certificates or exercise of any remedy under Section 11.1 shall, except as specifically provided herein, relieve the Program Lessee of any of its liabilities and obligations hereunder.


More Definitions of Program Operating Lease

Program Operating Lease means the program operating lease, dated as of February 1, 2001, between the Transferor and the Issuer, as amended or supplemented from time to time.
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Program Operating Lease means that certain SUBI lease, dated as of November 1, 2000, between BMW Auto Leasing LLC, as Program Lessee and BMW Vehicle Lease Trust 2000-A, as Program Lessor.
Sample 1
Program Operating Lease means the SUBI lease, dated as of February 1, 2001, between Ryder Funding II LP, as Program Lessee and Ryder Vehicle Lease Trust 2001-A, as Program Lessor.
Sample 1
Program Operating Lease means the agreement dated [ ], 2000 between RCL Trust 2000-1, as Program Lessee, and the Lease Trustee, as Program Lessor, as amended from time to time.
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Related to Program Operating Lease

  • Operating Lease means, as applied to any Person, any lease (including, without limitation, leases which may be terminated by the lessee at any time) of any Property (whether real, personal or mixed) which is not a Capital Lease other than any such lease in which that Person is the lessor.

  • Operating Lease Expense means the sum of all payments and expenses incurred by a Person, under any operating leases during the period of determination, as determined in accordance with GAAP.

  • PJM Operating Agreement means the Amended and Restated Operating Agreement of PJM on file with the Commission.

  • Operating Leases means all real or personal property leases under which any Company is bound or obligated as a lessee or sublessee and which, under GAAP, are not required to be capitalized on a balance sheet of such Company; provided that Operating Leases shall not include any such lease under which any Company is also bound as the lessor or sublessor.

  • Network Operating Agreement means an executed agreement that contains the terms and conditions under which the Network Customer shall operate its facilities and the technical and operational matters associated with the implementation of Network Integration Transmission Service under Tariff, Part III.

  • Co-op Lease With respect to a Co-op Loan, the lease with respect to a dwelling unit occupied by the Mortgagor and relating to the stock allocated to the related dwelling unit.

  • Net Lease means a lease in which the tenant undertakes to pay all or substantially all the cash expenses, excluding debt service, related to the leased property.

  • Property Management Agreement means that certain management agreement between the Company and the Property Manager with respect to the management of the Property.

  • Approved Lease has the meaning set forth in Section 6.11(a).

  • Operating Lease Obligations means all obligations for the payment of rent for any real or personal property under leases or agreements to lease, other than Capitalized Lease Obligations.

  • Financeable Ground Lease means, a ground lease reasonably satisfactory to the Administrative Agent on behalf of the Lenders, which must provide customary protections for a potential leasehold mortgagee (“Mortgagee”) such as (i) a remaining term, including any optional extension terms exercisable unilaterally by the tenant, of no less than 25 years, (ii) a provision that the ground lease will not be terminated until the Mortgagee has received notice of a default, has had a reasonable opportunity to cure and has failed to do so, (iii) provision for a new lease to the Mortgagee as tenant on the same terms if the ground lease is terminated for any reason, (iv) transferability of the tenant’s interest under the ground lease by the Mortgagee without any requirement for consent of the ground lessor unless based on delivery of customary assignment and assumption agreements from the transferor and transferee, (v) the ability of the tenant to mortgage tenant’s interest under the ground lease without any requirement for consent of the ground lessor and (vi) provisions that the tenant under the ground lease (or the leasehold mortgagee) has customary protections with respect to the application of insurance proceeds or condemnation awards attributable to the tenant’s interest under the ground lease and related improvements.

  • Title V operating permit means a permit issued under Chapter 3745-77 of the Administrative Code.

  • Joint Operating Agreement (JOA) means the operating and participating agreement between the Parties constituting the Contractor that governs their operational activities, obligations and responsibilities under this Contract,

  • Wet Lease means any arrangement whereby Owner or a Permitted Lessee agrees to furnish the Aircraft, Airframe or any Engine to a third party pursuant to which the Aircraft, Airframe or Engine shall at all times be in the operational control of Owner or a Permitted Lessee, provided that Owner’s obligations under the Trust Indenture shall continue in full force and effect notwithstanding any such arrangement.

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Redevelopment project means a specific construction project

  • Lease Agreement means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this article. Unless the context clearly indicates otherwise, the term includes a sublease agreement.

  • Operating Area means those areas on-shore in India in which company or its affiliated company may from time to time be entitled to execute such services/operations.

  • operating licence means an authorisation granted by the competent licensing authority to an undertaking, permitting it to provide air services as stated in the operating licence;

  • Franchise Agreement or “Agreement” shall mean this Agreement and any amendments or modifications hereto.

  • Master Tenant means any entity approved by HUD now or hereafter leasing the Healthcare Facility pursuant to a Master Lease.

  • Gross Operating Profit For any Fiscal Year, the excess of Gross Revenues for such Fiscal Year over Gross Operating Expenses for such Fiscal Year.

  • Redevelopment Project Area means an area designated by the municipality, which is not less in the aggregate than 1 1/2 acres and in respect to which the municipality has made a finding that there exist conditions which cause the area to be classified as an industrial park conservation area or a blighted area or a conservation area, or a combination of both blighted areas and conservation areas.

  • Farm operation means any activity conducted solely or primarily for the production of one or more agricultural products or commodities, including timber, for sale or home use, and customarily producing such products or commodities in sufficient quantity to be capable of contributing materially to the operator's support.

  • System Operating Limit or “SOL” shall mean the value (such as MW, MVAR, Amperes, Frequency, or Volts) that satisfies the most limiting of the prescribed operating criteria for a specified system configuration to ensure operation within acceptable reliability criteria.

  • asset renewal expenditure means expenditure on an existing asset or on replacing an existing asset that returns the service capability of the asset to its original capability