Sales Proceeds Advance definition
Sales Proceeds Advance means the amount advanced by the Servicer to the Issuing Entity on a Deposit Date equal to the Securitization Value of each 2019-B Lease relating to a 2019-B Vehicle that terminated early (but was not a Lease in default) and the amount equal to the Base Residual of each 2019-B Lease relating to a 2019-B Vehicle that matured on its scheduled termination date.
Sales Proceeds Advance means the amount advanced by the Servicer to the Issuer on a Deposit Date equal to the Securitization Value of a 2015-1 Lease that was terminated during the related Collection Period and for which the related 2015-1 Vehicle was not sold by the Servicer.
Sales Proceeds Advance means the amount advanced by the Servicer to the Issuing Entity on a Deposit Date equal to the Securitization Value of each 2015-B Lease relating to a 2015-B Vehicle that terminated early (but was not a Lease in default) and the amount equal to the Base Residual of each 2015-B Lease relating to a 2015-B Vehicle that matured on its scheduled termination date. “Schedule of 2015-B Leases and 2015-B Vehicles” means the schedule of 2015-B Leases and 2015-B Vehicles on file with the Indenture Trustee, as it may be amended from time to time (which may be supplied in CD-Rom form) which shall set forth as to each 2015-B Lease or 2015-B Vehicle, as the case may be, (i) the identification number of the 2015-B Lease, (ii) the identification number of the 2015-B Vehicle, (iii) the related Maturity Date and (iv) the value of the 2015-B Lease and the related 2015-B Vehicle on the Servicer’s books as of the Cutoff Date. 25 (NALT 2015-B Agreement of Definitions)
Examples of Sales Proceeds Advance in a sentence
If the Servicer has not sold a 2025-2 Vehicle within 90 days after it has made a Sales Proceeds Advance, it shall be reimbursed for such Sales Proceeds Advance as part of the Payment Date Advance Reimbursement in accordance with Section 2.4(b)(i).
After the Servicer has made a Sales Proceeds Advance with respect to a 2025-2 Vehicle, the Issuer shall have no claim against or interest in such 2025-2 Vehicle or any Sales Proceeds or Termination Proceeds, as the case may be, resulting from the sale or other disposition thereof.
If the Servicer shall sell or otherwise dispose of a 2025-2 Vehicle after having made a Sales Proceeds Advance, the Issuer may retain all of such Sales Proceeds Advance, and the Servicer shall retain the related Sales Proceeds or Termination Proceeds, as the case may be, up to the Securitization Value of the related 2025-2 Lease, and will deposit any Sales Proceeds or Termination Proceeds, as the case may be, in excess of the related Securitization Value into the 2025-2 SUBI Collection Account.
More Definitions of Sales Proceeds Advance
Sales Proceeds Advance means the amount advanced by the Servicer to the Issuing Entity on a Deposit Date equal to the Securitization Value of each 2022-A Lease relating to a 2022-A Vehicle that terminated early (but was not a Lease in default) and the amount equal to the Base Residual of each 2022-A Lease relating to a 2022-A Vehicle that matured on its scheduled termination date. “Schedule of 2022-A Leases and 2022-A Vehicles” means the schedule of 2022-A Leases and 2022-A Vehicles on file with the Indenture Trustee, as it may be amended from time to time (which may be supplied in CD-Rom form) which shall set forth as to each 2022-A Lease or 2022-A Vehicle, as the case may be, (i) the identification number of the 2022-A Lease, (ii) the identification number of the 2022-A Vehicle, (iii) the related Maturity Date and (iv) the value of the 2022-A Lease and the related 2022-A Vehicle on the Servicer’s books as of the Cutoff Date.
Sales Proceeds Advance means the amount advanced by the Servicer to the Issuing Entity on a Deposit Date equal to the Securitization Value of each 20[•]-[•] Lease relating to a 20[•]-[•] Vehicle that terminated early (but was not a Lease in default) and the amount equal to the Base Residual of each 20[•]-[•] Lease relating to a 20[•]-[•] Vehicle that matured on its scheduled termination date. “Schedule of 20[•]-[•] Leases and 20[•]-[•] Vehicles” means the schedule of 20[•]-[•] Leases and 20[•]-[•] Vehicles on file with the Indenture Trustee, as it may be amended from time to time (which may be supplied in CD-Rom form) which shall set forth as to each 20[•]-[•] Lease or 20[•]-[•] Vehicle, as the case may be, (i) the identification number of the 20[•]-[•] Lease, (ii) the identification number of the 20[•]-[•] Vehicle, (iii) the related Maturity Date and (iv) the value of the 20[•]-[•] Lease and the related 20[•]-[•] Vehicle on the Servicer’s books as of the Cutoff Date.
Sales Proceeds Advance means the amount advanced by the Servicer to the Issuing Entity on a Deposit Date equal to the Securitization Value of each 2024-A Lease relating to a 2024-A Vehicle that terminated early (but was not a Lease in default) and the amount equal to the Base Residual of each 2024-A Lease relating to a 2024-A Vehicle that matured on its scheduled termination date. “Schedule of 2024-A Leases and 2024-A Vehicles” means the schedule of 2024-A Leases and 2024-A Vehicles on file with the Indenture Trustee, as it may be amended from time to time (which may be supplied in CD-Rom form) which shall set forth as to each 2024-A Lease or 2024-A Vehicle, as the case may be, (i) the identification number of the 2024-A Lease, (ii) the identification number of the 2024-A Vehicle, (iii) the related Maturity Date and (iv) the value of the 2024-A Lease and the related 2024-A Vehicle on the Servicer’s books as of the Cutoff Date.
Sales Proceeds Advance means the amount advanced by the Servicer to the Issuer on a Deposit Date equal to the Securitization Value of each 2003-A Lease relating to a 2003-A Vehicle that terminated early (but was not a Lease in default) and the amount equal to the Residual Value of each 2003-A Lease relating to a 2003-A Vehicle that matured on its scheduled termination date. "Schedule of 2003-A Leases and 2003-A Vehicles" means the schedule of 2003-A Leases and 2003-A Vehicles attached as Exhibit A to the 2003-A SUBI Supplement and the 2003-A Servicing Supplement (which may be supplied in CD-Rom form) which shall set forth as to each 2003-A Lease or 2003-A Vehicle, as the case may be, (i) the identification number of the 2003-A Lease, (ii) the identification number of the 2003-A Vehicle, (iii) the related Maturity Date and (iv) the value of the 2003-A Lease and the related 2003-A Vehicle on the Servicer's books as of the Cutoff Date.
Sales Proceeds Advance means the amount advanced by the Servicer to the Issuing Entity on a Deposit Date equal to the Securitization Value of each 20[●]-[●] Lease relating to a 27 (NALT 20[●]-[●] Agreement of Definitions) 20[●]-[●] Vehicle that terminated early (but was not a Lease in default) and the amount equal to the Base Residual of each 20[●]-[●] Lease relating to a 20[●]-[●] Vehicle that matured on its scheduled termination date. “Schedule of 20[●]-[●] Leases and 20[●]-[●] Vehicles” means the schedule of 20[●]-[●] Leases and 20[●]-[●] Vehicles on file with the Indenture Trustee, as it may be amended from time to time (which may be supplied in CD-Rom form) which shall set forth as to each 20[●]-[●] Lease or 20[●]-[●] Vehicle, as the case may be, (i) the identification number of the 20[●]-[●] Lease, (ii) the identification number of the 20[●]-[●] Vehicle, (iii) the related Maturity Date and (iv) the value of the 20[●]-[●] Lease and the related 20[●]-[●] Vehicle on the Servicer’s books as of the Cutoff Date.
Sales Proceeds Advance means the amount advanced by the Servicer to the Issuing Entity on a Deposit Date equal to the Securitization Value of each 2014-A Lease relating to a 2014-A Vehicle that terminated early (but was not a Lease in default) and the amount equal to the Base Residual of each 2014-A Lease relating to a 2014-A Vehicle that matured on its scheduled termination date. 25 (NALT 2014-A Agreement of Definitions) “Schedule of 2014-A Leases and 2014-A Vehicles” means the schedule of 2014-A Leases and 2014-A Vehicles on file with the Indenture Trustee, as it may be amended from time to time (which may be supplied in CD-Rom form) which shall set forth as to each 2014-A Lease or 2014-A Vehicle, as the case may be, (i) the identification number of the 2014-A Lease, (ii) the identification number of the 2014-A Vehicle, (iii) the related Maturity Date and (iv) the value of the 2014-A Lease and the related 2014-A Vehicle on the Servicer’s books as of the Cutoff Date.
Sales Proceeds Advance means the amount, if any, advanced by the Servicer to the Issuing Entity on a Deposit Date equal to the Securitization Value of each 2025-B Lease relating to a 2025-B Vehicle. “Schedule of 2025-B Leases and 2025-B Vehicles” means the schedule of 2025-B Leases and 2025-B Vehicles on file with the Indenture Trustee, as it may be amended from time to time (which may be supplied in CD-Rom form) which shall set forth as to each 2025-B Lease or 2025-B Vehicle, as the case may be, (i) the identification number of the 2025-B Lease, (ii) the identification number of the 2025-B Vehicle, (iii) the related Maturity Date and (iv) the value of the 2025-B Lease and the related 2025-B Vehicle on the Servicer’s books as of the Cutoff Date.