Turnback Date definition

Turnback Date means, with respect to any Lease Vehicle that is a Program Vehicle, the date on which such Lease Vehicle is accepted for return by a Manufacturer or its agent pursuant to its Manufacturer Program.

Turnback Date means, with respect to any Group V Repurchase Vehicle, the date on which such Group V Vehicle is accepted for return by a Manufacturer or its agent pursuant to its Repurchase Program and the Depreciation Charges cease to accrue pursuant to its Repurchase Program.

Turnback Date means, with respect to a Pledged Vehicle that is an Eligible Repurchase Vehicle, the date on which such Pledged Vehicle is accepted for return by a Manufacturer or its agent pursuant to its Repurchase Program and the Depreciation Charges with respect to such Vehicle cease to accrue pursuant to its Repurchase Program.

Examples of Turnback Date in a sentence

• The applicable Lessee shall pay to the Lessor, as part of the Monthly Base Rent, interest accrued at a rate equal to the VFR on the Repurchase Price of each Group III Repurchase Vehicle for the period between the Turnback Date for such Group III Vehicle and receipt of such Repurchase Price by the Lessor from the Manufacturer ("Repurchase Price Interest").

• The applicable Lessee shall pay to the Lessor, as part of the Monthly Base Rent, interest accrued at a rate equal to the VFR on the Repurchase Price of each Group II Repurchase Vehicle for the period between the Turnback Date for such Group II Vehicle and receipt of such Repurchase Price by the Lessor from the Manufacturer ("Repurchase Price Interest").

• The applicable Lessee shall pay to the Lessor, as part of the Monthly Base Rent, interest accrued at a rate equal to the VFR on the Repurchase Price of each Group IV Repurchase Vehicle for the period between the Turnback Date for such Group IV Vehicle and receipt of such Repurchase Price by the Lessor from the Manufacturer ("Repurchase Price Interest").

• The applicable Lessee shall pay to the Lessor, as part of the Monthly Base Rent, interest accrued at a rate equal to the VFR on the Repurchase Price of each Repurchase Vehicle for the period between the Turnback Date for such Vehicle and receipt of such Repurchase Price by the Lessor from the Manufacturer ("Repurchase Price Interest").

• The applicable Lessee shall pay to the Lessor, as part of the Monthly Base Rent, interest accrued at a rate equal to the VFR on the Repurchase Price of each Vehicle for the period between the Turnback Date for such Vehicle and receipt of such Repurchase Price by the Lessor from the Manufacturer ("Repurchase Price Interest").

More Definitions of Turnback Date

Turnback Date has the meaning specified in the HVIF Lease.

Turnback Date means, with respect to any Series 1997-2 Repurchase Vehicle, the date on which such Vehicle is accepted for return by a Manufacturer or its agent pursuant to its Repurchase Program and the Depreciation Charges cease to accrue pursuant to its Repurchase Program.

Turnback Date has the meaning specified in the Lease.

Turnback Date means, with respect to any Lease Vehicle that is a Program Vehicle, the date on which such Lease Vehicle is accepted for return by a Manufacturer or its agent pursuant to its Manufacturer Program. “U.S. GAAP” means generally accepted accounting principles in the United States of America, used in all calculations relating to Lease Vehicles. “US Risk Retention Rule” means 17 C.F.R. Clause 246. “VAT” means:

Turnback Date means, with respect to any Lease Vehicle or Instalment Sale Vehicle that is a Program Vehicle, the date on which such Lease Vehicle or Instalment Sale Vehicle is accepted for return by a Manufacturer or its agent pursuant to its Manufacturer Program.

Turnback Date with respect to any Eligible Program Vehicle, the date on which such Vehicle is accepted for return by a manufacturer or its agent pursuant to its Manufacturer Program and depreciation charges cease to accrue pursuant to such Manufacturer Program.

Turnback Date means, with respect to any Lease Vehicle that is a HVIF Program Vehicle, the date on which such Lease Vehicle is accepted for return by a Manufacturer or its agent pursuant to its HVIF Manufacturer Program.