Securitized Leases definition

Securitized Leases means, collectively, the Securitized Corporate-Owned Store Leases and the Securitized Franchisee Leases and any leases with respect to Franchise Stores with third-party landlords (or with landlords that are Non-Securitization Entities, if such leases are on arm’s length terms) in respect of which a Securitization Entity is the prime lessee.
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Securitized Leases means, collectively, the Securitized Corporate-Owned Store Leases and the Securitized Franchisee Leases and any leases with respect to Franchise Stores with third-party landlords (or with landlords that are Non-Securitization Entities, if such leases are on arm’s length terms) in respect of which a Securitization Entity is the prime lessee. “Securitized Payment Processor Contracts” means a contract between the Franchisor and a third party for use of such third party’s services in collecting Member Payments. “Senior ABS Leverage Ratio” means, as of any date of determination, the ratio of (a)(i) the aggregate Outstanding Principal Amount of each Series of Senior Notes Outstanding (assuming the amounts available under each Class A-1 Note at such time (after giving effect to any commitment reductions on such date) are fully drawn) as of the end of the most recently ended Quarterly Collection Period less (ii) the sum of (x) the cash and Eligible Investments of the Securitization Entities credited to the Senior Notes Interest Reserve Account, the Cash Trap Reserve Account and the Franchisor Capital Accounts as of the end of the most recently ended Quarterly Collection Period, and (y) the available amount of the Interest Reserve Letter of Credit with respect to the Senior Notes as of the end of the most recently ended Quarterly Collection Period to (b) the sum of the Net Cash Flow for the preceding four (4) Quarterly Collection Periods most recently ended as of such date and for which financial statements have been prepared. The Senior ABS Leverage Ratio shall be calculated in accordance with Section 14.18(b) of the Base Indenture. “Senior Noteholder” means any Holder of Senior Notes of any Series. “Senior Notes” or “Class A Notes” means the issuance of Notes under the Indenture by the Master Issuer that by its terms (through its alphabetical designation as “Class A” pursuant to the Series Supplement applicable to such Indebtedness) is senior in the right to receive interest and principal on such Notes to the right to receive interest and principal on any Subordinated Notes. “Senior Notes Accrued Quarterly Interest Amount” means, for each Interim Allocation Date with respect to a Quarterly Collection Period, and with respect to any Senior Notes Outstanding, the amount identified as “Senior Notes Accrued Quarterly Interest Amount” in the applicable Series Supplement. “Senior Notes Accrued Quarterly Post-ARD Contingent Interest Amount” means, for each Interim Alloc...
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Securitized Leases means, collectively, the Securitized Company Restaurant Third-Party Leases, the Securitized JIB Back-to-Back Leases, the Securitized Franchisee Back-to-Back Subleases, the Securitized Owned-Property Franchisee Leases, the Non-Branded Restaurant Leases and the Non- Securitization Entity Leases.
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Examples of Securitized Leases in a sentence

  • The Manager shall be responsible for collecting and administering tenant improvement allowances and similar amounts received from landlords with respect to the Securitized Leases and the New Securitized Leases.

  • The Master Issuer shall not, and shall not permit any other Securitization Entity to, enter into any lease of real property (other than in connection with any Permitted Asset Disposition or Securitized Leases).

  • Any such amounts received from landlords will be collected and maintained in one or more accounts by the Manager, and shall be utilized by the Manager as required by the relevant Securitized Lease or for improvements, renovations or other capital expenditures in respect of real property subject to the Securitized Leases and the New Securitized Leases or, to the extent any such funds represent a reimbursement of such expenditures previously made by the Manager, may be retained by the Manager.

  • The Trust and the Seller each hereby appoint the Servicer to be its agent for the purposes of servicing the Securitized Leases and the rest of the Portfolio of Assets as set out in this Article 5.


More Definitions of Securitized Leases

Securitized Leases has the meaning specified in the preamble.
Sample 1
Securitized Leases means, collectively, the Securitized Company Restaurant Third-Party Leases, the Securitized JIB Back-to-Back Leases, the Securitized Franchisee Back-to-Back Subleases, the Securitized Owned-Property Franchisee Leases, the Non-Branded Restaurant Leases and the Non-Securitization Entity Leases.
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Securitized Leases means all lease transactions to which Seller is or was a party that are subject to a Securitization Transaction.
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Related to Securitized Leases

  • Capitalized Lease of a Person means any lease of Property by such Person as lessee which would be capitalized on a balance sheet of such Person prepared in accordance with Agreement Accounting Principles.

  • Capitalized Lease Obligations of a Person means the amount of the obligations of such Person under Capitalized Leases which would be shown as a liability on a balance sheet of such Person prepared in accordance with Agreement Accounting Principles.

  • Capitalized Lease Obligation means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) in accordance with GAAP.

  • Capital Lease Obligations of any Person means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP.

  • Finance Lease Obligations means, as to any Person, the obligations of such Person under a lease that are required to be classified and accounted for as finance lease obligations under GAAP and, for purposes of this definition, the amount of such obligations at any date shall be the capitalized amount of such obligations at such date, determined in accordance with GAAP.