ARR Lease definition

ARR Lease means a 2023-2 Lease as to which the related Lessee is 60 days or more delinquent in payments due and owed as of the end of the Collection Period immediately preceding the date on which the requisite percentage of Noteholders and Note Owners have voted to direct an Asset Representations Review.
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ARR Lease means a Lease as to which the related Obligor is more than [60] days delinquent in payments due and owed.
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Examples of ARR Lease in a sentence

  • The Form 10-D filed pursuant to this clause (iv) will also specify the means by which Noteholders and Verified Note Owners may notify the Indenture Trustee and the Servicer in writing of any non-compliance of any representation that it considers to be a breach of the applicable Basic Document, or request in writing that an ARR Lease be reallocated.

  • The Servicer will have the sole ability to determine if there was non-compliance with any representation or warranty made by it that constitutes a breach that materially and adversely affects the interest of the Issuer in the related ARR Lease, and whether to reallocate the related ARR Lease from the Issuer.

  • If a Noteholder or a Verified Note Owner notifies the Indenture Trustee in writing that it considers any non-compliance of any representation with respect to any ARR Lease to be a breach of the applicable Basic Document, or requests in writing that any 20[__]-[__] Lease (including any ARR Lease) be reallocated (including, for the avoidance of doubt, as described in Section 4.2 of the Servicing Supplement), the Indenture Trustee will promptly forward that written notice to the Servicer.