Common use of Net Present Value Clause in Contracts

Net Present Value. At the relevant time of reference thereto, the discounted present value of the Direct Finance Lease Receivables, discounted with respect to each Direct Finance Lease, at the Direct Finance Lease Rate per annum of the remaining term of the applicable Direct Finance Lease. Note Placement 2006-1. The $685,000,000 Floating Rate Asset Backed Notes, Series 2006-1 Notes issued by CLIF on August 24, 2006, pursuant to a supplement to the Indenture.