Pull Ahead Lease Asset definition
Examples of Pull Ahead Lease Asset in a sentence
On the first business day of each Monthly Period, the Servicer (if the Servicer is not Ally Financial) shall notify the Pull Ahead Agent of the identity of all Lease Assets that have become Pull Ahead Lease Assets during the immediately preceding Monthly Period and the total amount of Pull Ahead Payments paid and remaining to be paid with respect to each such Pull Ahead Lease Asset.
Consistent with the foregoing, only the Servicer (or any replacement servicer or delegate of the Servicer) shall be entitled to modify the Lease related to any Pull Ahead Lease Asset; provided, however, that any such modification shall be subject to and consistent with the provisions of this Agreement and the ACOLT Transaction Documents.
In connection with any Pull Ahead Lease Asset, the Servicer shall charge the related Lessee any applicable Excess Wear and Excess Mileage Charges in accordance with the related Lease and the Servicer’s Customary Servicing Practices, and the Servicer shall deposit any amounts received from the related Lessee on account thereof into the ACOLT Collection Account in accordance with Article III of this Agreement.
On the second Business Day of the Monthly Period following any Monthly Period in which a Lease Asset shall be deemed to have become a Pull Ahead Lease Asset, or if the Monthly Remittance Condition is satisfied, on the third Business Day preceding the related Distribution Date, Ally Financial, as Pull Ahead Agent, shall pay to the Servicer for deposit into the ACOLT Collection Account, an amount equal to the aggregate amount of the Pull Ahead Payments with respect to such Pull Ahead Lease Assets.
On the first business day of each Collection Period, the Servicer (if the Servicer is not Ally Financial) shall notify the Pull Ahead Agent of the identity of all Series 20 -SN Lease Assets that have become Pull Ahead Lease Assets during the immediately preceding Collection Period and the total amount of Pull Ahead Payments paid and remaining to be paid with respect to each such Pull Ahead Lease Asset.
On the second Business Day of the Monthly Period following any Monthly Period in which a Lease Asset shall be deemed to have become a Pull Ahead Lease Asset, or if the Monthly Remittance Condition is satisfied, on the third Business Day preceding the related Distribution Date, Ally Financial, as Pull Ahead Agent, shall pay to the Servicer for deposit into the Collection Account, an amount equal to the aggregate amount of the Pull Ahead Payments with respect to such Pull Ahead Lease Assets.
Consistent with the foregoing, only the Servicer (or any replacement servicer or delegate of the Servicer) shall be entitled to modify the Series 20 -SN Lease related to any Pull Ahead Lease Asset; provided, however, that any such modification shall be subject to and consistent with the provisions of this Agreement.
In connection with any Pull Ahead Lease Asset, the Servicer shall charge the related Lessee any applicable Excess Wear and Excess Mileage Charges in accordance with the related Series 20 -SN Lease and the Customary Servicing Practices, and the Servicer shall deposit any amounts received from the related Lessee on account thereof into the COLT Collection Account in accordance with Section 3.04.
On the second Business Day of the Collection Period following any Collection Period in which a Series 2007-SN1 Lease Asset shall be deemed to have become a Pull Ahead Lease Asset, or if the Monthly Remittance Condition is satisfied, on the third Business Day preceding the related Payment Date, GMAC, as Pull Ahead Agent, shall pay to the Servicer for deposit into the COLT Collection Account, an amount equal to the aggregate amount of the Pull Ahead Payments with respect to such Pull Ahead Lease Assets.
Consistent with the foregoing, only the Servicer (or any replacement servicer or delegate of the Servicer) shall be entitled to modify the Series 200 - Lease related to any Pull Ahead Lease Asset; provided, however, that any such modification shall be subject to and consistent with the provisions of this Agreement.