Common use of Additional Base Rent Clause in Contracts

Additional Base Rent. After giving credit for all prepayments on account thereof pursuant to (c) below, each Lessee shall pay to the Lessor an amount equal to the product of (A) the monthly Additional Base Rent that has accrued during the Related Month with respect to the Non-Program Vehicles leased under this Lease by the Lessees and (B) a fraction, the numerator of which is the Net Book Value of all Non-Program Vehicles leased by such Lessee under the Financing Lease and the denominator of which is the Net Book Value of all Non-Program Vehicles leased by the Lessees under this Lease; and

Appears in 1 contract

Sources: Master Motor Vehicle Lease and Servicing Agreement (Republic Industries Inc)

Additional Base Rent. After giving credit for all prepayments on account thereof pursuant to (cf) below, each Lessee shall pay to the Lessor an amount equal to the product of (A) the monthly Additional Base Rent that has accrued during the Related Month with respect to the Non-Program Vehicles leased under this Lease by the Lessees and (B) a fraction, the numerator of which is the Net Book Value of all Non-Program Vehicles leased by such Lessee under the Financing Operating Lease and the denominator of which is the Net Book Value of all Non-Program Vehicles leased by the Lessees under this Lease; and

Appears in 1 contract

Sources: Master Motor Vehicle Lease and Servicing Agreement (Republic Industries Inc)

Additional Base Rent. After giving credit for all prepayments on account thereof pursuant to (cf) below, each Lessee shall pay to the Lessor an amount equal to the product of (A) the monthly Additional Base Rent that has accrued during the Related Month with respect to the Non-Program Vehicles leased under this Lease by the Lessees and (B) a fraction, the numerator of which is the Net Book Value of all Non-Program Vehicles leased by such Lessee under the Financing Synthetic Lease and the denominator of which is the Net Book Value of all Non-Program Vehicles leased by the Lessees under this Lease; and

Appears in 1 contract

Sources: Master Motor Vehicle Lease and Servicing Agreement (Republic Industries Inc)