Flat Fee Leasing Charge definition
Flat Fee Leasing Charge means a lump sum payment made by a Lessee under a Lease of a Container which Lease covers all per diem rental charges, all pick-up and drop-off charges, all handling charges and all Damage Protection Plan Fees attributable to that Container for a defined lease term. For purposes of calculating Revenues with respect to the Containers, Manager shall pro-rate each Flat Fee Leasing Charge on a daily basis over the defined lease term for each Container covered by such Flat Fee Leasing Charge, and shall accrue the applicable pro-rated daily portion of such Flat Fee Leasing Charge as Revenue generated by such Container throughout such fixed lease term. In the event a Container covered by a Flat Fee Leasing Charge is redelivered prior to the expiration of the fixed term covered by such charge, Manager shall accrue the unearned pro-rated portion of the Flat Fee Leasing Charge with respect to such Container as Revenue earned on the date of redelivery of such Container.