Reallocation Payment definition

Reallocation Payment means the payment deposited by the UTI Beneficiary to the 2016-B SUBI Collection Account in connection with any reallocation of a Matured Vehicle or a Defaulted Vehicle from the 2016-B SUBI to the UTI pursuant to Section 8.02(c) of the 2016-B Servicing Supplement, which shall be in an amount equal to the Net Liquidation Proceeds for such Matured Vehicle or Defaulted Vehicle.

Reallocation Payment means, with respect to events causing the Servicer to have an obligation to repurchase a 2011-1 Lease and the related 2011-1 Vehicle pursuant to Section 2.2 or 2.3, the Securitization Value of such 2011-1 Lease as of the day on which the related cure period ended.

Reallocation Payment means, with respect to events causing the Servicer to have an obligation to repurchase a 20[__]-[__] Lease and the related 20[__]-[__] Vehicle pursuant to Section 2.2 or 2.3, the Securitization Value of such 20[__]-[__] Lease as of the day on which the related cure period ended.

Examples of Reallocation Payment in a sentence

• Such deposit of the Reallocation Payment shall satisfy the Servicer’s obligations to the Issuer pursuant to this Section, shall be deemed to constitute payment in full of the Reallocation Payment with respect thereto and shall cure any incorrectness of the related representation or warranty for purposes of this Servicing Supplement.

• Such deposit of the Reallocation Payment shall satisfy the Servicer’s obligations pursuant to this Section, shall be deemed to constitute payment in full of the Reallocation Payment with respect thereto and shall cure any incorrectness of the related representation or warranty for purposes of this Agreement.

• The Reallocation Payment must be made by the Servicer on the next Deposit Date following the end of such 90-day period.

• If the Servicer is unable or unwilling to do so within such period, it shall promptly (i) deposit or cause to be deposited into the SUBI Collection Account an amount equal to the Reallocation Payment and (ii) direct the Vehicle Trustee to cause such 20[__]-[__] Vehicle and the related 20[__]-[__] Lease to be conveyed to the Servicer as described in Section 2.3(h) below.

• If the Servicer is unable or unwilling to do so within such period, it shall promptly (i) deposit or cause to be deposited into the 2024-2 SUBI Collection Account an amount equal to the Reallocation Payment with respect to such 2024-2 Lease and (ii) direct the Vehicle Trustee to reallocate such 2024-2 Lease and the related 2024-2 Vehicle from the 2024-2 SUBI to the UTI.

More Definitions of Reallocation Payment

Reallocation Payment means a payment made pursuant to Section 7.03(a)(iii).

Reallocation Payment means the amount required to be deposited by the Servicer into the 1997-A SUBI Collection Account in connection with any 1997-A Contract as to which a breach of a representation, warranty or covenant that materially and adversely affects the owners of interests in the 1997-A SUBI or the Certificateholders is not cured in all material respects within 60 days after TMCC discovers such breach or is given notice thereof, which amount will equal the Discounted Principal Balance of such Contract as of the last day of the Collection Period during which the related cure period ended plus an amount equal to any imputed lease charge on such Contract at the related Lease Rate that was delinquent as of the end of such Collection Period.

Reallocation Payment means, with respect to any Lease, an amount equal to the Securitization Value of such Lease as of the day on which the related cure period (as determined in Section 2.05(b)) ended.

Reallocation Payment means, with respect to any date of determination, the Securitization Value of a 20[__]-[__] Contract with respect to such date.

Reallocation Payment has the meaning specified in Section 2.13 of this Agreement.

Reallocation Payment means an amount equal to the Securitization Value of the related [___]-[_] Lease.

Reallocation Payment means, with respect to events causing the Servicer to have an obligation to repurchase a 2000-A Lease and the related 2000-A Vehicle pursuant to Section 2.3, the Securitization Value of such 2000-A Lease as of the date of repurchase.