TRAC Amount definition

TRAC Amount means, with respect to any Lease that is a TRAC Lease, the sum of (a) the Guaranteed Payment with respect to such Lease and (b) any accrued and unpaid payments owing to the Titling Trust, as lessor, under such Lease.
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TRAC Amount means, as of any date of determination and with respect to any Vehicle sold by or on behalf of the Lessor (whether to the Lessee or a third party), an amount equal to the TRAC Percentage or Renewal TRAC Percentage, as applicable, of the Purchase Price for such Vehicle as of such date of determination with respect to such Vehicle minus the Net Sales Proceeds with respect to such Vehicle (it being understood that if a Vehicle is unsold, the Net Sales Proceeds equals zero).
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Examples of TRAC Amount in a sentence

  • From the perspective of the New York residential and business energy consumer, the impact of the reduced consumption and price impacts on electricity consumers is a net present value benefit of approximately $145 million across the region.

  • If the proceeds of sale of any Motor Vehicle Unit received by Lessor under paragraph 2 of Item E of the Appendix at the scheduled expiration of the Lease term of the Unit (net of sales costs and any applicable taxes) and any Terminal Rental Adjustment payment by Lessee with respect to the Unit equals or exceeds the TRAC Amount for the Unit, then Lessee shall have no liability under this Section 9.

  • While acting as Lessor's agent, Lessee shall not consummate any proposed sale of a Unit that is a Motor Vehicle for a price (net of applicable taxes and sales costs) less than the TRAC Amount without notifying Lessor and obtaining Lessor's prior written consent to such sale.

  • Paragraph 13 of the Agreement, entitled “Loss or Damage,” provides that if the equipment is “lost, stolen, destroyed, damaged beyond repair, or rendered permanently unfit for use for any reason,” then the Debtor will pay Tucker Capital all remaining rent for the Initial Term, as well as the TRAC Amount.

  • The Lessee or its designee shall have the right to bid for and purchase any Vehicle as part of a bona fide public sale pursuant to this Section, provided that a public sale need not be conducted if the Lessee reasonably believes that the net Fair Market Sales Value which would be received at a bona fide public sale would be less than the TRAC Amount.

  • The Debtor argues that the Agreement actually created a security interest under U.C.C. § 1-203(b) since the TRAC Amount was nominal in comparison to the value of the Freightliner and the total payments made by the Debtor.

  • Tucker Capital argues that the Debtor has “options” under the Agreement, which alternatively allow (1) the Debtor to renew the lease, (2) the Debtor to purchase the Freightliner for the TRAC Amount, or (3) Tucker Capital to sell the Freightliner and retain the proceeds.

  • The Lessee or its designee shall have the right to bid for and purchase any Vehicle as part of a bona fide public sale pursuant to Section 13.1(c), provided that a public sale need not be conducted if the Lessee reasonably believes that the net Fair Market Sales Value which would be received at a bona fide public sale would be less than the TRAC Amount.

  • On (i) the Termination Date in respect of any Vehicle or, in the case of terminations pursuant to Section 13.1(a) occurring in the final Rent Period of the Base Term, at the end of the Base Term or, in the case of any Vehicle sold pursuant to Section 13.1(c) during a Renewal Term, on the Renewal Settlement Date therefor, the TRAC Amount with respect to such date shall be added to and constitute a portion of the installment of Basic Rent due and payable thereon.

  • Without limiting the foregoing, the Lessee’s obligations hereunder shall not terminate with respect to a Vehicle until all amounts due and owing for such Vehicle (including the portion of the installment of Basic Rent which constitutes the TRAC Amount, any amount of Supplemental Rent and the Net Sales Proceeds with respect to such Vehicle) are paid in full.

Related to TRAC Amount

  • L/C Amount means the sum of (i) the aggregate face amount of any issued and outstanding Letters of Credit and (ii) the unpaid amount of the Obligation of Reimbursement.

  • Broken Amount means, in respect of any Interest Payment Date, the amount specified in the relevant Final Terms.

  • Excess Cash Amount means, as of any Excess Cash Measurement Date, (a) the total amount of Unrestricted Cash, less (b) the sum of (i) the applicable Minimum Cash Threshold hereto corresponding to such Excess Cash Measurement Date, (ii) the total amount of scheduled payments due by OEC and its Subsidiaries, taken as a whole, under (x) the New Notes and (y) any other Permitted Indebtedness in each case in the subsequent twelve (12) month period, (iii) projected expenses for the Issuer to conduct its operations during the subsequent twelve (12) month period, including any foreign currency conversion expenses and (iv) for any Excess Cash Measurement Date through (and including) December 31, 2024, any Fines due by OEC and its Subsidiaries for the subsequent twelve (12) month period; less (c) an amount equal to the Required Gross-Up; provided that any items already deducted from cash and short-term investments of OEC and its Subsidiaries for purposes of determining Unrestricted Cash shall not be deducted again for purposes of determining the Excess Cash Amount.

  • Maximum Contribution Amount shall equal the excess of (i) the aggregate proceeds received by such Holder pursuant to the sale of such Registrable Notes or Exchange Notes over (ii) the aggregate amount of damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(d) are several in proportion to the respective principal amount of the Registrable Securities held by each Holder hereunder and not joint. The Company’s and Subsidiary Guarantors’ obligations to contribute pursuant to this Section 8(d) are joint and several. The indemnity and contribution agreements contained in this Section 8 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties.

  • Forward Price Reduction Amount For each Forward Price Reduction Date, the Forward Price Reduction Amount set forth opposite such date on Schedule I. Shares: Common stock, USD 0.01 par value per share, of Party B (also referred to herein as the “Issuer”) (Exchange identifier: “VICI”). Exchange: New York Stock Exchange. Related Exchange(s): All Exchanges. Clearance System: DTC. Calculation Agent: Party A.

  • Sale Amount means, with respect to any Sold Receivable, the amount received from the related third-party purchaser as payment for such Sold Receivable.

  • Daily Maximum Cash Amount means, with respect to the conversion of any Note, the quotient obtained by dividing (A) the Specified Dollar Amount applicable to such conversion by (B) forty (40).

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • FX Reduction Amount is defined in Section 2.1.3.

  • Excess Funding Amount means the amount on deposit in the Excess Funding Account.

  • Allowed Amount means the total amount of reimbursement allocated to a covered Service and includes both the BCBSAZ payment and the Member Cost-share payment. BCBSAZ calculates deductible and Coinsurance based on the Allowed Amount, less any access fees or Precertification Charges. BCBSAZ uses the Allowed Amount to accumulate toward any Out-of-pocket Coinsurance Maximum or Out-of-pocket Maximum that applies to the member’s Benefit Plan. The Allowed Amount does not include any balance bills from noncontracted Providers. The Allowed Amount is neither tied to, nor necessarily reflective of, the amounts Providers in any given area usually charge for their services. The table below shows how BCBSAZ determines the Allowed Amount:

  • Reduction Amount has the meaning set forth in Section 2.05(b)(viii).

  • Excess Concentration Amount means, on any date of determination, the sum of, without duplication,

  • Total Distribution Amount With respect to any Distribution Date, the sum of (i) the aggregate of the Interest Remittance Amounts for such date; (ii) the aggregate of the Principal Remittance Amounts for such date; and (iii) all Prepayment Premiums collected during the related Prepayment Period.

  • Reply Amount has the meaning assigned to such term in the definition of “Dutch Auction”.

  • Allocation Amount means, as of the Closing Date, the Series 2017-1 Stated Principal Amount and on any date of determination thereafter, the sum of, without duplication, (a) the Allocation Amount determined as of the later of the Closing Date or the date of determination immediately prior to the then current date of determination, plus (b) the amount of all increases in the Series 2017-1 Stated Principal Amount resulting from the issuance of additional Series 2017-1 Notes since the prior date of determination, plus (c) all reimbursements, as provided in Section 4.04(e) or otherwise, of reductions in the Allocation Amount due to Investor Charge-Offs or Reallocated Principal Collections since the prior date of determination, minus (d) the amount of the reduction in the Allocation Amount due to Investor Charge-Offs since the prior date of determination, determined as set forth in Section 4.07, minus (e) the amount of the reduction in the Allocation Amount due to the application of Reallocated Principal Collections since the prior date of determination, determined as set forth in Section 4.08, minus (f) the amount deposited into the Principal Funding Account or (without duplication) deposited into the Distribution Account pursuant to Section 4.05(c) or paid to the Series 2017-1 Noteholders (in each case, after giving effect to any deposits, allocations, reallocations or withdrawals to be made on that day) since the prior date of determination; provided, however, that (1) the Allocation Amount may never be less than zero, (2) the Allocation Amount may never be greaterthan the Adjusted Outstanding Dollar Principal Amount and (3) if there is a sale of Collateral in accordance with Section 4.14, the Allocation Amount will be reduced to zero upon such sale.

  • Unadjusted Principal Distribution Amount As defined in the definition of “Principal Distribution Amount.”

  • Funding Amount has the meaning specified in Section 3.2(a).

  • Excess Amount The excess of the Participant's Annual Additions for the Limitation Year over the Maximum Permissible Amount.

  • Net Amount means the Distribution Amount less the sum of all quarterly payments received by the COP Swap Counterparties under the COP Swap Collateral Agreement in respect of amounts owed under the COP Swap Agreements since January 1, 2014.

  • Principal Distribution Amount For any Distribution Date, the sum of (i) the Basic Principal Distribution Amount for such Distribution Date and (ii) the Extra Principal Distribution Amount for such Distribution Date.

  • Acquisition Amount means, for an Acquired Receivable for which the Acquisition Amount is to be included in Available Funds for a Payment Date, the excess of (i) the present value of the Principal Balance of the Receivable as of the last day of the Collection Period immediately preceding the related Collection Period (calculated using the Discount Rate on the basis of a 360-day year of twelve 30-day months and assuming each amount is received at the end of the Collection Period in which the amount is scheduled to be received) over (ii) all cash collections and any other cash proceeds received by the Issuer on the related Receivable from (but excluding) the last day of the Collection Period immediately preceding the related Collection Period to the day on which such Receivable becomes an Acquired Receivable.

  • Available Distribution Amount As to any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, each Loan Group, an amount equal to (a) the sum of (i) the amount relating to the Mortgage Loans on deposit in the Custodial Account as of the close of business on the immediately preceding Determination Date, including any Subsequent Recoveries, and amounts deposited in the Custodial Account in connection with the substitution of Qualified Substitute Mortgage Loans, (ii) the amount of any Advance made on the immediately preceding Certificate Account Deposit Date, (iii) any amount deposited in the Certificate Account on the related Certificate Account Deposit Date pursuant to the second paragraph of Section 3.12(a), (iv) any amount deposited in the Certificate Account pursuant to Section 4.07, (v) any amount that the Master Servicer is not permitted to withdraw from the Custodial Account or the Certificate Account pursuant to Section 3.16(e), (vi) any amount received by the Trustee pursuant to the Surety Bond in respect of such Distribution Date and (vii) the proceeds of any Pledged Assets received by the Master Servicer, reduced by (b) the sum as of the close of business on the immediately preceding Determination Date of (w) aggregate Foreclosure Profits, (x) the Amount Held for Future Distribution, and (y) amounts permitted to be withdrawn by the Master Servicer from the Custodial Account in respect of the Mortgage Loans pursuant to clauses (ii)-(x), inclusive, of Section 3.10(a). Such amount shall be determined separately for each Loan Group. Additionally, with respect to any Mortgage Pool that is comprised of two or more Loan Groups, if on any Distribution Date Compensating Interest provided pursuant to this Section 3.16(e) is less than Prepayment Interest Shortfalls incurred on the Mortgage Loans in connection with Principal Prepayments in Full and Curtailments made in the prior calendar month, such Compensating Interest shall be allocated on such Distribution Date to the Available Distribution Amount for each Loan Group on a pro rata basis in accordance with the respective amounts of such Prepayment Interest Shortfalls incurred on the Mortgage Loans in such Loan Group in respect of such Distribution Date.

  • PIPE Investment Amount means the aggregate gross purchase price received by Acquiror prior to or substantially concurrently with Closing for the shares in the PIPE Investment.