Common use of Early Termination Lease Clause in Contracts

Early Termination Lease. The Servicer may, in its sole discretion, permit an Included Lease to become an Early Termination Lease (which shall not include an Included Lease that becomes an Early Termination Lease due to a Casualty Loss), so long as, unless another Included Lease is substituted therefor as described in Section 2.7, (i) the Servicer deposits in the Collection Account, not later than the second Business Day after the Date of Processing thereof by the Servicer, the sum of (A) the Discounted Lease and Residual Balance of such Included Lease as of the Determination Date in the month prior to the month in which such Included Lease becomes an Early Termination Lease and (B) the amount of any Hedge Termination Payment owing in respect thereof and (ii) at the time the Servicer permits an Included Lease to become an Early Termination Lease the Discounted Lease Balance of all Included Leases which have become Early Termination Leases (and for which substitute Included Leases have not been transferred to the Trust) for the period of twelve months ending with the current Monthly Period does not exceed 4% of the Aggregate Pool Balance as of the last day of the preceding Monthly Period.