Disposition Excess definition
Disposition Excess means, with respect to any Lease, the excess (if any) of the proceeds from any sale or other disposition of the related Equipment over the TRAC Amount.
Examples of Disposition Excess in a sentence
Upon completion of a Disposition Offer, the Disposition Excess Amount shall be reset to zero.
The definitions of "Disposition," "Excess Net Cash Proceeds" and "Net Cash Proceeds" contained in Section 1.1 of the Credit Agreement are hereby deleted.
To the extent the amount of Accommodations Outstanding owing to the Term Loan Lenders that have notified the Borrowers of their acceptance of the Disposition Offer is less than the Disposition Excess Amount, the Borrowers shall be entitled to use any remaining Disposition Excess Amount for general corporate purposes.