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.

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

  • 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.

  • 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.

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

  • Upon the occurrence of a Program Operating Lease Default, the Indenture Trustee, as assignee of the rights of the Issuer in the Program Operating Lease pursuant to the Indenture Trustee's security interest in the Trust Estate, shall be entitled to terminate the Program Operating Lease.

  • 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.

  • Neither the Program Lessor nor the Program Lessee may assign its interest in this Program Operating Lease except as permitted by Sections 12.1 and 12.2. This Program Operating Lease, including all agreements, covenants, representations and warranties, shall be binding upon and inure to the benefit of the Program Lessor and its successors and permitted assigns, and the Program Lessee and its successors and permitted assigns.


More Definitions of Program Operating Lease

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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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 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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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 or the successor, superseding or amended versions of the Amended and Restated Operating Agreement that may take effect from time to time.

  • 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. Network Operating Committee:

  • 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 any Property Management Agreement between the Company and the Property Manager.

  • Approved Lease means (a) each existing Lease as of the Closing Date as set forth in the Leasing Affidavit and (b) each Lease entered into after the Closing Date in accordance with the terms and conditions contained in Section 9.09 as such leases and related documents shall be Modified as permitted pursuant to the terms of this Agreement.

  • 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.

  • 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 any work or undertaking

  • 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.