Purchased Lease definition

Purchased Lease. As of any Deposit Date, any Lease which Vendor Services has repurchased (or substituted with a Substitute Lease therefor) as of the related Accounting Date, as required by Section 2.6.
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Purchased Lease means, as of any Deposit Date, any Lease which Vendor Services has purchased (or substituted a Substitute Lease for) as of the related Accounting Date, as required by Section 2.6 of the Contribution and Servicing Agreement.
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Purchased Lease is defined in the definition of “Lease Purchase Transaction.”
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Examples of Purchased Lease in a sentence

  • Each Purchased Lease and all other documents in each Lease File have been duly executed by all parties and are valid, binding and enforceable against all parties in accordance with their terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws relating to or limiting creditors’ rights generally and by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law).

  • Neither Seller nor any affiliate of Seller has any obligation under any Purchased Lease that has not been performed in full as of the related Purchase Date, and no Purchased Lease requires Seller or any affiliate of Seller to comply with any covenant or other agreement (it being understood that the Servicing Rights do not constitute obligations, covenants or other agreements).

  • No default or other event (other than a failure to pay any amount due under any Purchased Lease) that with the passage of time or giving of notice or both would become a default has occurred under any Purchased Lease, nor has Seller waived any such default or other event, in each case except as disclosed on Schedule 2 to the related Assignment.

  • All Equipment leased under a Purchased Lease will at all times perform in all material respects according to applicable specifications; provided, however, that this Section 3.2.4 shall only apply to an item of Equipment if the commencement date of the related Purchased Lease occurred within one year before the related Purchase Date and any Scheduled Payments due under such Purchased Lease on or before the first anniversary of such commencement date have not been paid in full.

  • Seller has transferred a perfected, first-priority security interest in the related Equipment to Buyer, which security interest is subject only to the interests of the related Obligor under the related Purchased Lease.

  • Buyer shall have the right, but shall not be obligated, to perform any Seller obligation under any Purchased Lease.

  • Each Obligor under any Purchased Lease has the power and authority to execute, deliver and perform such Purchased Lease.

  • Seller hereby irrevocably authorizes Buyer to deliver to the related Obligor each notice of assignment delivered by Seller to Buyer pursuant to Section 2.3.5. Seller shall have no right or obligation to exercise the Servicing Rights and shall not take any action with respect to any Purchased Lease that would reasonably be expected to have a Material Adverse Effect.

  • Buyer shall xxxx and collect all payments due or to become due under the Purchased Leases and otherwise administer the Purchased Leases in its own name and in accordance with its standard servicing procedures as in effect from time to time (it being understood that the Buyer may, without limitation, instruct any Obligor under a Purchased Lease to make payments under such Purchased Lease to any account designated by Buyer).

  • Seller shall promptly forward to Buyer all material written communications that it receives after the related Purchase Date with respect to any Purchased Lease (other than any such communication also sent to Buyer) and shall promptly notify Buyer in writing if it receives written notice of the occurrence of an Insolvency Event with respect to any Obligor under a Purchased Lease or the occurrence of an event of non-appropriation with respect to any Purchased Lease.


More Definitions of Purchased Lease

Purchased Lease means a Specified Lease and related Specified Leased Vehicle the beneficial interest in which has been purchased by the Administrative Agent pursuant to Section 4.7 of the Administrative Agency Agreement.
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Related to Purchased Lease

  • Assumed Leases has the meaning set forth in Section 2.1(l).

  • Assigned Leases has the meaning specified in Section 2.01(b).

  • Recorded Leasehold Interest means a Leasehold Property with respect to which a Record Document has been recorded in all places necessary or desirable, in Administrative Agent's reasonable judgment, to give constructive notice of such Leasehold Property to third-party purchasers and encumbrancers of the affected real property.

  • Property Lease means any Depot Lease, any lease in respect of a Managed Station Area, any lease in respect of Shared Facilities or any Station Lease and any agreement or lease of a similar or equivalent nature (whether in respect of any such facility or otherwise) which the Franchisee may enter into with a person who has an interest in a network or a railway facility which is to be used for or in connection with the provision or operation of the Franchise Services;

  • Real Property Lease has the meaning set forth in Section 3.9(b).

  • 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.

  • Leasehold interest means the interest of the lessor or the lessee under a lease contract.

  • Permitted Lease means a lease permitted under Section 4.02(b) of the Trust Indenture.

  • Company Lease means any lease, sublease, sub-sublease, license and other agreement under which the Company or any of its Subsidiaries leases, subleases, licenses, uses or occupies (in each case whether as landlord, tenant, sublandlord, subtenant or by other occupancy arrangement), or has the right to use or occupy, now or in the future, any real property.

  • Sub-Lease means the sub-lease entered into following the approval of an Approved Sub-lease;

  • Subject Leases means, for any Asset Review, all 2019-B Leases which are 60-Day Delinquent Leases as of the end of the Collection Period immediately preceding the related Review Satisfaction Date.

  • Space Lease The space or occupancy lease pursuant to which any Borrower holds a leasehold interest in the related Mortgaged Property, together with any estoppels or other agreements executed and delivered by the lessor in favor of the lender under the related Mortgage Loan(s).

  • Assigned Contract has the meaning set forth in Section 1.5(a).

  • Space Leases means any Lease or sublease thereunder (including, without limitation, any Major Space Lease) or any other agreement providing for the use and occupancy of a portion of the Property as the same may be amended, renewed or supplemented.

  • Assumed Contract means any Executory Contract or Unexpired Lease assumed by the Reorganized Debtors in accordance with Article V of the Plan.

  • Tenant Lease means any lease entered into by the Borrower, any Loan Party or any Subsidiary with respect to any portion of a Property.

  • Leasehold Interests means all of each Borrower’s right, title and interest in and to, and as lessee, of the premises identified on Schedule 4.19(A) hereto.

  • Tenant Leases means leases, subleases, licenses or other use agreements between Seller and tenants with respect to Real Property, if any.

  • 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:

  • Real Property Leases means all leases, sub-leases, licenses or other agreements, in each case, pursuant to which any Group Company leases or sub-leases any real property.

  • Purchased Contracts has the meaning set forth in Section 2.1.1(a).

  • Material Leasehold Property means a Leasehold Property reasonably determined by Administrative Agent to be of material value as Collateral or of material importance to the operations of Company or any of its Subsidiaries.

  • Company Leased Real Property has the meaning set forth in Section 3.14(b).

  • Real Estate Leases has the meaning set forth in Section 2.1(d)(ii).

  • Leased Intangible Property means all agreements, service contracts, equipment leases, booking agreements and other arrangements or agreements affecting the ownership, repair, maintenance, management, leasing or operation of the Leased Property, or any portion thereof, to which Landlord is a party; all books, records and files relating to the leasing, maintenance, management or operation of the Leased Property, or any portion thereof, belonging to Landlord; all transferable or assignable permits, certificates of occupancy, operating permits, sign permits, development rights and approvals, certificates, licenses, warranties and guarantees, rights to deposits, trade names, service marks, telephone exchange numbers identified with the Leased Property, and all other transferable intangible property, miscellaneous rights, benefits and privileges of any kind or character belonging to Landlord with respect to the Leased Property.

  • Ground Leases Those certain leases with respect to real property that is a portion of the Leased Property, pursuant to which Landlord is a tenant and which leases have either been approved by Tenant or are in existence as of the date hereof and listed on Schedule A hereto.