Residual Value Surplus definition

Residual Value Surplus means, with respect to any Matured Vehicle or Defaulted Vehicle, excess, if any, of (i) the sum (without duplication) of all related Net Auction Proceeds and Net Insurance Proceeds, over (ii) the Securitization Value of the related 2016-B Vehicle at (a) the Maturity Date of the related 2016-B Lease, or (b) the date the related 2016-B Lease was terminated by the Lessee.
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Residual Value Surplus with respect to any Collection Period, means the excess, if any, of the aggregate of Matured Leased Vehicle Proceeds with respect to 1997-A Leased Vehicles net of Matured Leased Vehicle Expenses incurred with respect to 1997-A Leased Vehicles Vehicles during such Collection Period over the aggregate of the Booked Residual Values of 1997-A Leased Vehicles liquidated or otherwise disposed of during such Collection Period. "RESIDUAL VALUE TEST" will not be satisfied as of any Determination Date if (i) with respect to the related Collection Period the number of 1997-A Leased Vehicles returned to the Servicer during such period relating to 1997-A Contracts that became Matured Contracts during such period is greater than 25% of all 1997-A Contracts that, as of their respective origination dates, had been scheduled to become Matured Contracts during such period (provided that at least 500 such 1997-A Contracts had been scheduled to become Matured Contracts during such Collection Period), and (ii) the average Net Matured Leased Vehicle Proceeds during the three immediately preceding calendar months (or the months of August and September 1997 in the case of the October 1997 Determination Date) is less than 75% of the average Residual Values of Leased Vehicles disposed of or liquidated during such period.
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Residual Value Surplus means, with respect to any Collection Period, the excess, if any, of the aggregate of Matured Leased Vehicle Proceeds with respect to 1998-B Leased Vehicles net of related Matured Leased Vehicle Expenses incurred with respect to 1998-B Leased Vehicles during such Collection Period over the aggregate of the Booked Residual Values of such 1998-B Leased Vehicles. "RESIDUAL VALUE TEST" will not be satisfied as of any Determination Date if (i) with respect to the related Collection Period the number of 1998-B Leased Vehicles returned to the Servicer relating to Matured Contracts and sold during such period is greater than 25% of all 1998-B Contracts that, as of their respective origination dates, had been scheduled to become Matured Contracts during such period (provided that at least 500 such 1998-B Contracts had been scheduled to become Matured Contracts during such Collection Period), and (ii) the average Net Matured Leased Vehicle Proceeds during the three immediately preceding calendar months is less than 75% of the average Residual Values of 1998-B Leased Vehicles disposed of or liquidated during such period.
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Examples of Residual Value Surplus in a sentence

  • The parties hereby acknowledge that there shall be no Residual Value Surplus Account or Payahead Account (as defined in the Titling Trust Agreement).


More Definitions of Residual Value Surplus

Residual Value Surplus means, with respect to any Matured Vehicle or Defaulted Vehicle, excess, if any, of (i) the sum (without duplication) of all related Net Auction Proceeds and Net Insurance Proceeds, over (ii) the Securitization Value of the related 2019-B Vehicle at (a) the Maturity Date of the related 2019-B Lease, or (b) the date the related 2019-B Lease was terminated by the Lessee.
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Residual Value Surplus has the meaning set forth in the Administration Agreement.
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Residual Value Surplus means, with respect to any Matured Vehicle or Defaulted Vehicle, excess, if any, of (i) the sum (without duplication) of all related Net Auction Proceeds
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Related to Residual Value Surplus

  • Operating Surplus means, with respect to any period ending prior to the Liquidation Date, on a cumulative basis and without duplication,

  • Total Available Funds shall have the meaning set forth in Section 5.7(a).

  • Book Value means, with respect to any Asset and any Liability Assumed, the dollar amount thereof stated on the Accounting Records of the Failed Bank. The Book Value of any item shall be determined as of Bank Closing after adjustments made by the Receiver for differences in accounts, suspense items, unposted debits and credits, and other similar adjustments or corrections and for setoffs, whether voluntary or involuntary. The Book Value of a Subsidiary of the Failed Bank acquired by the Assuming Institution shall be determined from the investment in subsidiary and related accounts on the "bank only" (unconsolidated) balance sheet of the Failed Bank based on the equity method of accounting. Without limiting the generality of the foregoing, (i) the Book Value of a Liability Assumed shall include all accrued and unpaid interest thereon as of Bank Closing, and (ii) the Book Value of a Loan shall reflect adjustments for earned interest, or unearned interest (as it relates to the "rule of 78s" or add-on- interest loans, as applicable), if any, as of Bank Closing, adjustments for the portion of earned or unearned loan-related credit life and/or disability insurance premiums, if any, attributable to the Failed Bank as of Bank Closing, and adjustments for Failed Bank Advances, if any, in each case as determined for financial reporting purposes. The Book Value of an Asset shall not include any adjustment for loan premiums, discounts or any related deferred income, fees or expenses, or general or specific reserves on the Accounting Records of the Failed Bank. For Shared-Loss Securities, Book Value means the value of the security provided in the Information Package.

  • Adjusted Pool Balance means, on the Closing Date, an amount equal to:

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 1.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

  • Reserve Account Surplus means, as of any date of determination, the amount, if any, by which the amount on deposit in the Reserve Account exceeds the Required Reserve Account Amount.