Stated Residual Value means, for any Unit, the stated residual value of the related Vehicle established at the time of origination of the related Lease or as subsequently revised in connection with an extension of a Lease in accordance with Customary Servicing Practices.
Stated Residual Value. With respect to a Lease Asset, the residual value of the related Leased Vehicle as set forth in the related Lease and established at the time of lease origination. Statutory Trust Act: Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code § 3801 et seq., as the same may be amended from time to time.
Stated Residual Value means, for any Unit Vehicle subject to a Closed-End Lease, the lesser of (a) the stated residual value of such Unit Vehicle established at the time of origination of such Closed-End Lease in accordance with the Policies and (b) the Net Book Value of such Unit Vehicle as of such day.
Examples of Stated Residual Value in a sentence
The Lease included in such Unit was written on a constant yield basis and provides for substantially equal monthly payments, such that, at the end of the lease term, the capitalized cost has been amortized to an amount equal to the Stated Residual Value of the related Vehicle.
More Definitions of Stated Residual Value
Stated Residual Value has the meaning defined in the Indenture.
Stated Residual Value with respect to a Series 20 -SN Lease Asset, the residual value of the related Vehicle as set forth in the related Series 20 -SN Lease.
Stated Residual Value with respect to a Series 2005-SN1 Lease Asset, the residual value of the related Vehicle as set forth in the related Series 2005-SN1 Lease.
Stated Residual Value with respect to a Series 200_-_ Lease Asset, the residual value of the related Vehicle as set forth in the related Series 200_-_ Lease.
Stated Residual Value with respect to any Series of Secured Notes and the Lease Assets included in the related Series Portfolio, as set forth in Exhibit A to the related COLT Servicing Agreement.