Repossessed Vehicle Proceeds definition

Repossessed Vehicle Proceeds means gross amounts received by the Servicer or the Trustee, on behalf of the Trust (before reimbursement for Repossessed Vehicle Expenses) in connection with the sale or other disposition of a 1997-B Leased Vehicle that has been repossessed by the Servicer or has been returned to the Servicer for sale or other disposition in connection with a Prepayment of the related 1997-B Lease.
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Repossessed Vehicle Proceeds with respect to any Collection Period, means proceeds received in connection with the sale or other disposition of 1997-A Leased Vehicles, if any, that have been repossessed during such Collection Period or any prior Collection period.
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Examples of Repossessed Vehicle Proceeds in a sentence

  • The Servicer is not required hereby to deduct from Repossessed Vehicle Proceeds, Matured Leased Vehicle Proceeds or other Liquidation Proceeds or Insurance Proceeds with respect to any particular 1997-A Leased Vehicle all related unreimbursed Repossessed Vehicle Expenses, Matured Leased Vehicle Expenses or other Liquidation Expenses or Insurance Expenses prior to transferring such funds out of its operating account.

  • Notwithstanding Section 2.06 of the Servicing Agreement, the Servicer need not deduct from Repossessed Vehicle Proceeds, Matured Leased Vehicle Proceeds or other Liquidation Proceeds or Insurance Proceeds with respect to any particular 1996-B Leased Vehicle all related unreimbursed Repossessed Vehicle Expenses, Matured Leased Vehicle Expenses or other Liquidation Expenses or Insurance Expenses prior to transferring such funds out of its operating account.

  • Notwithstanding Section 2.06 of the Servicing Agreement, the Servicer need not deduct from Repossessed Vehicle Proceeds, Matured Leased Vehicle Proceeds or other Liquidation Proceeds or Insurance Proceeds with respect to any particular 1999-A Leased Vehicle all related unreimbursed Repossessed Vehicle Expenses, Matured Leased Vehicle Expenses or other Liquidation Expenses or Insurance Expenses prior to transferring such funds out of its operating account.

  • Notwithstanding Section 2.06 of the Servicing Agreement, the Servicer need not deduct from Repossessed Vehicle Proceeds, Matured Leased Vehicle Proceeds or other Liquidation Proceeds or Insurance Proceeds with respect to any particular 1997-A Leased Vehicle all related unreimbursed Repossessed Vehicle Expenses, Matured Leased Vehicle Expenses or other Liquidation Expenses or Insurance Expenses prior to transferring such funds out of its operating account.

  • Notwithstanding Section 2.06 of the Servicing Agreement, the Servicer need not deduct from Repossessed Vehicle Proceeds, Matured Leased Vehicle Proceeds or other Liquidation Proceeds or Insurance Proceeds with respect to any particular 1997-B Leased Vehicle all related unreimbursed Repossessed Vehicle Expenses, Matured Leased Vehicle Expenses or other Liquidation Expenses or Insurance Expenses prior to transferring such funds out of its operating account.

  • Notwithstanding Section 2.06 of the Servicing Agreement, the Servicer need not deduct from Repossessed Vehicle Proceeds, Matured Leased Vehicle Proceeds or other Liquidation Proceeds or Insurance Proceeds with respect to any particular 1998-A Leased Vehicle all related unreimbursed Repossessed Vehicle Expenses, Matured Leased Vehicle Expenses or other Liquidation Expenses or Insurance Expenses prior to transferring such funds out of its operating account.

Related to Repossessed Vehicle Proceeds

  • Matured Vehicle as of any date means any Leased Vehicle the related Lease of which has reached its Maturity Date or has been terminated in connection with a Lessee Initiated Early Termination (and the Lessee is not in default under such Lease) or in connection with a Casualty Termination, which Leased Vehicle has been returned to the Servicer on behalf of the Titling Trust, if applicable.

  • Leased Vehicle means a new or used Nissan or Infiniti automobile, sport utility vehicle, minivan or light-duty truck, together with all accessories, parts and additions constituting a part thereof, and all accessions thereto, leased to a Lessee pursuant to a Lease.

  • Used vehicle means a Vehicle other than a New Vehicle.

  • Available Proceeds means, with respect to a Liquidation Event or Enforcement Event, as of a particular day:

  • Disposition Proceeds means, with respect to each Non-Program Vehicle, the net proceeds from the sale or disposition of such Non-Program Vehicle to any Person (other than any portion of such proceeds payable by the Lessee thereof pursuant to the Lease).

  • Covered Vehicle means a private passenger vehicle (including mini-vans, pickup trucks and sport utility vehicles) which is registered or rented to You during Your Trip, which is rated ¾ ton in weight or less, not used for racing, dealer services, dealer loaners, taxi, limousine, shuttle, delivery, hauling, towing, road repair service, construction service, snow removal, or as a public livery vehicle, or any other commercial use.

  • Shared vehicle means a vehicle that is available for

  • Low-speed vehicle means any four-wheeled electrically-powered vehicle, except a motor vehicle or

  • Foreclosure Proceeds Proceeds, net of any related expenses of the Servicer, Special Servicer, the Certificate Administrator and/or the Trustee, received in respect of any Foreclosed Property (including, without limitation, proceeds from the operation or rental of such Foreclosed Property) prior to the final liquidation of the Foreclosed Property.

  • Sale Proceeds All proceeds (excluding accrued interest, if any) received with respect to Assets as a result of sales of such Assets in accordance with the restrictions described in Article XII less any reasonable expenses incurred by the Collateral Manager, the Collateral Administrator or the Trustee (other than amounts payable as Administrative Expenses) in connection with such sales. Sale Proceeds will include Principal Financed Accrued Interest received in respect of such sale.

  • Condemnation Proceeds All awards or settlements in respect of a Mortgaged Property, whether permanent or temporary, partial or entire, by exercise of the power of eminent domain or condemnation, to the extent not required to be released to a Mortgagor in accordance with the terms of the related Mortgage Loan Documents.

  • Hybrid vehicle (HV) means a vehicle equipped with a powertrain containing at least two different categories of propulsion energy converters and at least two different categories of propulsion energy storage systems.

  • Abandoned vehicle means any of the following:

  • Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower, any Parent Guarantor or any of their respective Subsidiaries in connection therewith, but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first-priority Lien permitted by Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Rebuilt vehicle means any salvage vehicle which has been rebuilt and inspected for the purpose of registration and title;

  • Liquidation Proceeds Amounts, including Insurance Proceeds, received in connection with the partial or complete liquidation of defaulted Mortgage Loans, whether through trustee's sale, foreclosure sale or otherwise or amounts received in connection with any condemnation or partial release of a Mortgaged Property and any other proceeds received in connection with an REO Property, less the sum of related unreimbursed Servicing Fees and Advances.

  • REO Disposition Proceeds All amounts received with respect to an REO Disposition pursuant to Section 4.16.

  • Motorized Vehicle means a passenger car, station wagon, van, jeep-type automobile, truck, ambulance or any type of motorized vehicle used by municipal, provincial or federal police forces.

  • Shared vehicle driver means an individual who has been authorized to drive the

  • Reconstructed vehicle means every vehicle of a type required to be registered under this title

  • Purchase Proceeds means any cash amounts received by the Master Servicer in connection with: (i) the repurchase of a Mortgage Loan or an REO Mortgage Loan by a Seller pursuant to Section 2.3 or (ii) the purchase of the Mortgage Loans and REO Properties by the Depositor, the Master Servicer, the Special Servicer or the holders of the Class R-I Certificates pursuant to Section 10.1(b).

  • Nonroad Vehicle means a vehicle that is powered by a Nonroad Engine, fifty horsepower and greater, and that is not a Motor Vehicle or a vehicle used solely for competition, which shall include, but not be limited to, excavators, backhoes, cranes, compressors, generators, bulldozers and similar equipment, except that this term shall not apply to horticultural maintenance vehicles used for landscaping purposes that are powered by a Nonroad Engine of sixty-five horsepower or less and that are not used in any construction program or project.

  • Insurance Proceeds With respect to each Mortgage Loan, proceeds of insurance policies insuring the Mortgage Loan or the related Mortgaged Property.

  • Event of Loss Proceeds means, with respect to any proceeds from any Event of Loss, all Satellite insurance proceeds received by the Issuer or any of the Restricted Subsidiaries in connection with such Event of Loss, after

  • Collateral Proceeds means the Liquidation Proceeds of the Relevant Collateral or any Undeliverable Assets forming part of the Relevant Collateral (as the case may be) denominated in the Settlement Currency.

  • Salvage vehicle means any vehicle which is within the last ten (10) model years and which has been damaged by collision or other occurrence to the extent that the cost of repairing the vehicle for safe operation on the highway exceeds sixty percent (60%) of its fair market value, as defined by Section 1111 of this title, immediately prior to the damage. For purposes of this section, actual repair costs shall only include labor and parts for actual damage to the suspension, motor, transmission, frame or unibody and designated structural components;