Gross capitalized cost definition

Gross capitalized cost means, with respect to any Lease Agreement, the amount agreed to by the Lessee at the time of origination of such Lease Agreement as the value of the related Leased Vehicle(s) plus any other amounts that are capitalized and amortized over the term of the related Lease Agreement, including acquisition fees, Taxes, insurance, service agreements and any outstanding balance from a prior motor vehicle loan or lease contract.

Gross capitalized cost means the amount agreed upon by the lessor and the lessee as the value of the leased property and any items that are cap- italized or amortized during the lease term, including but not limited to taxes, insurance, service agreements, and any outstanding prior credit or lease balance. Capitalized cost reduction means the total amount of any rebate, cash payment, net trade-in allowance, and noncash credit that reduces the gross capitalized cost. The adjusted cap- italized cost equals the gross capitalized cost less the capitalized cost reduction, and is the amount used by the lessor in calculating the base periodic payment.

Gross capitalized cost means the sum of all amounts capitalized in the consumer lease that, after subtracting the capi- talized cost reduction, amortizes to the residual value by the

Examples of Gross capitalized cost in a sentence

• Test 3.3(j) – 8: Gross Capitalized Cost Observe the "Gross capitalized cost" in the "Your payment is determined as shown below" section of the Lease and confirm that it equals the "Total Gross Capitalized Cost" in the "Itemization of Gross Capitalized Cost" section.

• Test 3.3(j) – 9: Adjusted Capitalized Cost Observe the "Your payment is determined as shown below" section of the Lease and confirm that "Gross capitalized cost" minus "Capitalized cost reduction" equals "Adjusted capitalized cost." Test 3.3(j) – 10: Term Observe the "Payments" box on the Lease and confirm it matches the "Lease payments" in the "Your payment is determined as shown below" section.

• Section 213.2 is amended byrevising the first sentence of paragraph(f) to read as follows: § 213.2 Definitions.* * * * *(f) Gross capitalized cost means the amount agreed upon by the lessor and the lessee as the value of the leasedproperty and any items that arecapitalized or amortized during the lease term, including but not limited to taxes, insurance, service agreements,and any outstanding prior credit or lease balance.

• Understanding the most important terminology and com- mon contractual clauses can help you make sense of automobile lease agreements:▲ Gross capitalized cost: The value of the vehicle is called the gross capitalized cost.

• Gross capitalized cost', as used in this section, means the original cost upon acquisition for income tax purposes, not to include taxes, interest, or cab customizing." C.

More Definitions of Gross capitalized cost

Gross capitalized cost means the agreed upon value of the commercial vehicle and including any other items a person pays over the lease term that are included in such cost.

Gross capitalized cost. , as used in this section, means the original cost upon acquisition for income tax purposes, not to include taxes, interest, or cab customizing.

Gross capitalized cost means the amount, which, when reduced

Gross capitalized cost. , as used in this section, means the original cost upon acquisition for income tax purposes, not to include taxes, interest, or cab customizing, except for a large commercial motor vehicle which is fueled wholly or partially by natural gas, the gross capitalized cost shall be reduced by a dollar amount of thirty percent in order to equalize the cost/valuation basis with a comparable diesel or gasoline powered vehicle, for the life of the vehicle. This exception for a large commercial motor vehicle only applies to vehicles purchased after June 30, 2014, but before July 1, 2019.

Gross capitalized cost means the amount agreed upon by the retail lessor and the retail lessee as the value of the motor vehicle and any items that are capitalized or amortized during the lease term, including but not limited to taxes, insurance, service agreements, registration fees, license fees, lease acquisition and administration fees, warranty charges, fees and charges for accessories and for installing accessories, charges for delivery, service and repair, charges for improving the motor vehicle and providing other services incidental to the agreement, the outstanding balance of a prior loan agreement, lease or motor vehicle retail installment contract, and the unpaid portion of the early termination obligation under an outstanding lease agreement.

Gross capitalized cost has the meaning set forth in the Origination Trust Agreement.

Gross capitalized cost. , as used in this section, means the original cost upon acquisition for income tax purposes, not to include taxes, interest, or cab customizing, except for a large commercial motor vehicle which is fueled wholly or partially by natural gas, the gross capitalized cost shall be reduced by a dollar amount of thirty percent in order to equalize the cost/valuation basis with a comparable diesel or gasoline powered vehicle.