Active Lease definition

Active Lease means a Lease before the Collection Period that includes its Termination Date.
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Active Lease means any Lease that is designated on the internal system of Seller or Servicer, as applicable, as “Active”.
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Active Lease or "Active Retail Loan” means any Lease or Retail Loan, as applicable, that is designated on the internal system of Seller or Servicer, as applicable, as “Active”.
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Examples of Active Lease in a sentence

  • On the Exchange Note Issuance Date, the Servicer will deposit in the Exchange Note Collection Account an amount equal to the sum of (i) the Cutoff Date Payahead Amount and (ii) all Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases during the period from the Cutoff Date to two Business Days before the Exchange Note Issuance Date.

  • However, the Servicer will only make Active Lease Advances on a Lease if the Servicer, in its sole discretion, determines that the advances will be recoverable from subsequent 2026-A Collections (whether relating to the Lease and Leased Vehicle or another Lease or Leased Vehicle) under Section 4.3(b).

  • The Servicer may, at its option, make an advance for each Active Lease other than an Advance Payment Plan Lease and each Collection Period if the Base Payment exceeds the sum of (i) Active Lease Proceeds (which may be positive or negative) plus (ii) the Payahead Draw, by depositing the amount of the excess (equal to the Active Lease Advance) in the Exchange Note Collection Account on the Business Day before the related Payment Date or, with satisfaction of the Rating Agency Condition, on that Payment Date.


More Definitions of Active Lease

Active Lease means the date when a Unit is considered occupied under the terms of the Lease or when the lessee may begin to inhabit a Unit, whichever is first.
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