Rent Collected Fee definition
Rent Collected Fee has the meaning assigned to such term in Section 9.03(a)(ii) of the Servicing Agreement.
Rent Collected Fee in respect of any Fee Period shall equal one percent (1.00%) of the aggregate amount of the Rents actually paid by each Lessee in respect of MSA Aircraft Assets so long as such MSA Aircraft Asset remains subject to this Agreement and, if any Lessee fails to pay any Rent when due, amounts applied towards such payment during such Fee Period or portion of such Fee Period in which the relevant Aircraft constitutes a MSA Aircraft Asset so long as such MSA Aircraft Asset remains subject to this Agreement; provided, however, that if any collateral security, including any security deposit, is applied to the payment of Rent, then, for purposes of calculating the Rent Collected Fee, the amounts so applied shall not be included as Rent at the time of such application but shall be so included at such time as any Person within the Genesis Group shall receive substitute collateral security or a payment (whether in the form of Rent or otherwise) which restores, in whole or in part, such collateral security.
Rent Collected Fee in respect of any Fee Period shall equal one percent (1.00%) of the aggregate amount of the Rents actually paid by each Lessee in respect of Aircraft Assets so long as such Aircraft Asset remains subject to this Agreement and, if any Lessee fails to pay any Rent when due, amounts applied towards such payment during such Fee Period or portion of such Fee Period in which the relevant Aircraft constitutes an Aircraft Asset so long as such Aircraft Asset remains subject to this Agreement; provided, however, that if any collateral security, including any security deposit, is applied to the payment of Rent, then, for purposes of calculating the Rent Collected Fee, the amounts so applied shall not be included as Rent at the time of such application but shall be so included at such time as any Person within the GAL Group shall receive substitute collateral security or a payment (whether in the form of Rent or otherwise) which restores, in whole or in part, such collateral security.
Examples of Rent Collected Fee in a sentence
Rent Fees shall consist of the Rent Payable Fee and the Rent Collected Fee.
All payments of the First Tranche Rent Collected Fee shall be payable in arrears on the fifteenth day (or, if not a Business Day, the next succeeding Business Day) of the month next succeeding the month in which the rental payment is made.
All payments of the Second Tranche Rent Collected Fee shall be payable in arrears on the fifteenth day (or, if not a Business Day, the next succeeding Business Day) of the month next succeeding the month in which the rental payment is made.
More Definitions of Rent Collected Fee
Rent Collected Fee in respect of any Fee Period shall equal one percent of the aggregate amount of the Rents actually paid by each Lessee and, if any Lessee fails to pay any Rent when due, amounts applied towards such payment during such Fee Period or portion of such Fee Period in which the relevant Aircraft constitutes an Aircraft Asset or a UniCapital Serviced Aircraft; provided, however, that if any collateral security, including any security deposit, is applied to the payment of Rent, then, for purposes of calculating the Rent Collected Fee, the amounts so applied shall not be included as Rent at the time of such application but shall be so included at such time as any Person within the AFT Group shall receive substitute collateral security or a payment (whether in the form of Rent or otherwise) which restores, in whole or in part, such collateral security; provided further, however, that Rents actually paid in respect of any UniCapital Serviced Aircraft shall be included in this 42 48 calculation of the Rent Collected Fee on the terms and to the extent provided for in Section 9.01(b).
Rent Collected Fee in respect of any Fee Period shall equal one percent (1.00%) of the aggregate amount of the Rents actually paid by each Lessee and, if any Lessee fails to pay any Rent when due, amounts applied towards such payment during such Fee Period or portion of such Fee Period in which the relevant Aircraft constitutes an Aircraft Asset; provided that if any collateral security, including any security deposit, is applied to the payment of Rent, then, for purposes of calculating the Rent Collected Fee, the amounts so applied shall not be included as Rent at the time of such application but shall be so included at such time as any Person within the Company Group shall receive substitute collateral security or a payment (whether in the form of Rent or otherwise) which restores, in whole or in part, such collateral security.
Rent Collected Fee in respect of any Fee Period shall equal one percent (1.00%) of the aggregate amount of the Rents actually paid by each Lessee and, if any Lessee fails to pay any Rent when due, amounts applied towards such payment during such Fee Period or portion of such Fee Period in which the relevant Aircraft constitutes an Aircraft Asset; provided, however, that if any collateral security, including any security deposit, is applied to the payment of Rent, then, for purposes of calculating the Rent Collected Fee, the amounts so applied shall not be included as Rent at the time of such application but shall be so included at such time as any Person within the GFL Group shall receive substitute collateral security or a payment (whether in the form of Rent or otherwise) which restores, in whole or in part, such collateral security.
Rent Collected Fee has the meaning assigned to such term in Section 9.01(b) of this Agreement.