Payment of Capitalized Cost by Lessor Sample Clauses

Payment of Capitalized Cost by Lessor. Upon delivery of any new Vehicle, the Lessor shall pay to the authorized dealer, if any, that sold such Vehicle to the Lessor, the Capitalized Cost for such Vehicle and the Lessee shall pay all applicable costs and expenses of freight, packing, handling, storage, shipment and delivery of such Vehicle, and sales and use tax (if any), to the extent that the same have not been included in the Capitalized Cost for such Vehicle.
Sample 1
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Payment of Capitalized Cost by Lessor. (a) Upon invoicing of any Group II Vehicle by the Manufacturer or other seller thereof, the Lessor shall make a Master Lease Advance hereunder to pay to the Manufacturer, dealer or other seller of such Group II Vehicle (or to reimburse the applicable Lessee for) the costs and expenses incurred by the Lessor or such Lessee, as applicable, in connection with the acquisition of such Group II Vehicle as established by the invoice delivered in connection with such Group II Vehicle (the "Capitalized Cost"); provided that solely in the case of the Initial Fleet, any other Refinanced Vehicle, and any Eligible Receivable, the Lessor shall make Master Lease Advances to pay to the applicable owner thereof (x) the aggregate Net Book Value as of the Vehicle Lease Commencement Date of the Initial Fleet and/or the Refinanced Vehicles, as applicable, and (y) the face amount of the Eligible Receivables being refinanced on the Vehicle Lease Commencement Date. The relevant Lessee shall be responsible for all damage in transit and shall pay all applicable costs and expenses of freight, packing, handling, storage, shipment and delivery of such Group II Vehicle to the extent that the same have not been included within the Capitalized Cost.
Sample 1
Payment of Capitalized Cost by Lessor. On the Vehicle Finance Lease Commencement Date with respect to any Franchisee Vehicle leased hereunder, the Lessor shall apply to each such Franchisee Vehicle the Net Book Value (as of the first day of the Related Month) for such Vehicle. Upon delivery of any new Vehicle, the Lessor shall pay to the authorized dealer, if any, that sold such Vehicle to the Lessor, the Capitalized Cost for such Vehicle and the applicable Lessee shall pay all applicable costs and expenses of freight, packing, handling, storage, shipment and delivery of such Vehicle, and sales and use tax (if any), to the extent that the same have not been included in the Capitalized Cost for such Vehicle.
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Payment of Capitalized Cost by Lessor. Upon receipt of ------------------------------------- the Manufacturer's invoice and certificate of origin in respect of any Subsequently Acquired Vehicle, the Lessor or its agent shall pay or cause to be paid to the dealer or the related Manufacturer in accordance with such Manufacturer's payment terms, as applicable, the Capitalized Cost of such Vehicle as established by the invoice of the dealer or the Manufacturer, and the Lessee shall pay all applicable costs and expenses of freight, packing, handling, storage, shipment and delivery of such Vehicle to the extent that the same have not been included within the Capitalized Cost.
Sample 1

Related to Payment of Capitalized Cost by Lessor

  • Capitalized Interest Account On the Closing Date, the Issuer shall deposit the Capitalized Interest Account Initial Deposit into the Capitalized Interest Account.

  • Maintenance of Capital Accounts The Company shall maintain a Capital Account for each Member on the books of the Company in accordance with the provisions of Treasury Regulations Section 1.704-1(b)(2)(iv) and, to the extent consistent with such provisions, the following provisions:

  • Balance in the Replacement Reserve Account The insufficiency of any balance in the Replacement Reserve Account shall not relieve Borrower from its obligation to fulfill all preservation and maintenance covenants in the Loan Documents.

  • Reduction or loss of capital a meeting is convened by any Security Party for the purpose of passing any resolution to purchase, reduce or redeem any of its share capital; or

  • Distribution of Collateral Proceeds In the event that, following the occurrence and during the continuance of any Event of Default, any monies are received in connection with the enforcement of any of the Loan Documents, or otherwise with respect to the realization upon any of the Collateral or other assets of the Borrower or the Guarantors, such monies shall be distributed for application as follows:

  • Liquidation Proceeds Cash received in connection with the liquidation of a defaulted Mortgage Loan, whether through the sale or assignment of such Mortgage Loan, trustee’s sale, foreclosure sale, payment in full, discounted payoff or otherwise, or the sale of the related Mortgaged Property if the Mortgaged Property is acquired in satisfaction of the Mortgage Loan, including any amounts remaining in the related Escrow Account.

  • Reduction of Servicing Compensation in Connection with Prepayment Interest Shortfalls In the event that any Mortgage Loan is the subject of a Prepayment Interest Shortfall, the Servicer shall, from amounts in respect of the Servicing Fee for such Distribution Date, deposit into the Collection Account, as a reduction of the Servicing Fee for such Distribution Date, no later than the Servicer Remittance Date immediately preceding such Distribution Date, an amount up to the Prepayment Interest Shortfall; provided that the amount so deposited shall not exceed the Compensating Interest for such Distribution Date. In case of such deposit, the Servicer shall not be entitled to any recovery or reimbursement from the Depositor, the Trustee, the Issuing Entity or the Certificateholders. With respect to any Distribution Date, to the extent that the Prepayment Interest Shortfall exceeds Compensating Interest (such excess, a "Non-Supported Interest Shortfall"), such Non-Supported Interest Shortfall shall reduce the Current Interest with respect to each Class of Certificates, pro rata based upon the amount of interest each such Class would otherwise be entitled to receive on such Distribution Date. Notwithstanding the foregoing, there shall be no reduction of the Servicing Fee in connection with Prepayment Interest Shortfalls related to the Relief Act or bankruptcy proceedings and the Servicer shall not be obligated to pay Compensating Interest with respect to Prepayment Interest Shortfalls related to the Relief Act or bankruptcy proceedings.

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