Lease Interest Payment Deficit definition

Lease Interest Payment Deficit means on any Payment Date an amount equal to the excess, if any, of (a) the aggregate amount of Issuer Interest Collections that would have been deposited into the Issuer Interest Collection Account if all payments of Monthly Variable Rent required to have been made under the Leases from but excluding the preceding Payment Date to and including such Payment Date were made in full over (b) the aggregate amount of Issuer Interest Collections that have been received for deposit into the Issuer Interest Collection Account from but excluding the preceding Payment Date to and including such Payment Date.

Lease Interest Payment Deficit means on any Distribution Date an amount equal to the excess, if any, of (a) the aggregate amount of Interest Collections which pursuant to Section 3.2(a), (b) or (c) would have been allocated to the Series 2002-3 Accrued Interest Account if all payments of Monthly Base Rent required to have been made under the Leases from and excluding the preceding Distribution Date to and including such Distribution Date were made in full over (b) the aggregate amount of Interest Collections which pursuant to Section 3.2(a), (b) or (c) have been allocated to the Series 2002-3 Accrued Interest Account (excluding any amounts paid into the Series 2002-3 Accrued Interest Account pursuant to the -9- proviso in Sections 3.2(b)(ii) and/or 3.2(c)(ii)) from and excluding the preceding Distribution Date to and including such Distribution Date. "SERIES 2002-3 LEASE PAYMENT DEFICIT" means either a Series 2002-3 Lease Interest Payment Deficit or a Series 2002-3 Lease Principal Payment Deficit.

Lease Interest Payment Deficit means on any Distribution Date an amount equal to the excess, if any, of (a) the aggregate amount of Interest Collections which pursuant to Section 3.2(a), (b) or (c) would have been allocated to the Series 2002-3 Accrued Interest Account if all payments of Monthly Base Rent required to have been made under the Leases from and excluding the preceding Distribution Date to and including such Distribution Date were made in full over (b) the aggregate amount of Interest Collections which pursuant to Section 3.2(a), (b) or (c) have been allocated to the Series 2002-3 Accrued Interest Account (excluding any amounts paid into the Series 2002-3 Accrued Interest Account pursuant to the -9- proviso in Sections 3.2(b)(ii) and/or 3.2(c)(ii)) from and excluding the preceding Distribution Date to and including such Distribution Date. "SERIES 2002-3 LEASE PAYMENT DEFICIT" means either a Series 2002-3 Lease Interest Payment Deficit or a Series 2002-3 Lease Principal Payment Deficit.

Examples of Lease Interest Payment Deficit in a sentence

• Pursuant to Section 5.9(a) and (b) of the Series 2013-A Supplement, The Hertz Corporation, in its capacity as Group I Administrator under the Group I Related Documents and the Series 2013-A Related Documents, hereby provides notice of a Series 2013-A Lease Payment Deficit in the amount of $ (consisting of a Series 2013-A Lease Interest Payment Deficit in the amount of $ and a Series 2013-A Lease Principal Payment Deficit in the amount of $ ).

• Pursuant to Section 5.9(a) and (b) of the Series 2013-B Supplement, The Hertz Corporation, in its capacity as Group II Administrator under the Group II Related Documents and the Series 2013-B Related Documents, hereby provides notice of a Series 2013-B Lease Payment Deficit in the amount of $ (consisting of a Series 2013-B Lease Interest Payment Deficit in the amount of $ and a Series 2013-B Lease Principal Payment Deficit in the amount of $ ).

• Pursuant to paragraphs (a) and (b) of Clause 5.9 (Certain Instructions to the Issuer Security Trustee) of the Issuer Facility Agreement, Hertz Europe Limited, in its capacity as Issuer Administrator under the Issuer Related Documents, hereby provides notice of a Lease Payment Deficit in the amount of €[●] (consisting of a Lease Interest Payment Deficit in the amount of €[●] and a Lease Principal Payment Deficit in the amount of €[●]).

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• Pursuant to Section 5.9(a) and (b) of the Series 2016-1 Supplement, The Hertz Corporation, in its capacity as Group I Administrator under the Group I Related Documents and the Series 2016-1 Related Documents, hereby provides notice of a Series 2016-1 Lease Payment Deficit in the amount of $ (consisting of a Series 2016-1 Lease Interest Payment Deficit in the amount of $ and a Series 2016-1 Lease Principal Payment Deficit in the amount of $ ).

• Pursuant to Section 3.3(b) of the Series 2010-1 Supplement, Zipcar, Inc., in its capacity as Administrator under the Related Documents, hereby provides notice of a Series 2010-1 Lease Payment Deficit in the amount of $ (consisting of a Series 2010-1 Lease Interest Payment Deficit in the amount of $ and a Series 2010-1 Lease Principal Payment Deficit in the amount of $ ).

• Pursuant to Section 5.9(a) and (b) of the Series 2020-1 Supplement, The Hertz Corporation, in its capacity as HVIF Administrator under the Series 2020-1 Related Documents, hereby provides notice of a Series 2020-1 Lease Payment Deficit in the amount of $___________ (consisting of a Series 2020-1 Lease Interest Payment Deficit in the amount of $___________ and a Series 2020-1 Lease Principal Payment Deficit in the amount of $___________).

• Pursuant to Section 5.9(a) and (b) of the Series 2016-2 Supplement, The Hertz Corporation, in its capacity as Group I Administrator under the Group I Related Documents and the Series 2016-2 Related Documents, hereby provides notice of a Series 2016-2 Lease Payment Deficit in the amount of $ (consisting of a Series 2016-2 Lease Interest Payment Deficit in the amount of $ and a Series 2016-2 Lease Principal Payment Deficit in the amount of $ ).

• Pursuant to Section 3.3(b) of the Series 2009-1 Supplement, The Hertz Corporation, in its capacity as Administrator under the Related Documents, hereby provides notice of a Series 2009-1 Lease Payment Deficit in the amount of $ (consisting of a Series 2009-1 Lease Interest Payment Deficit in the amount of $ and a Series 2009-1 Lease Principal Payment Deficit in the amount of $ ).

• Pursuant to Section 5.9(a) and (b) of the Series 2018-1 Supplement, The Hertz Corporation, in its capacity as Group I Administrator under the Group I Related Documents and the Series 2018-1 Related Documents, hereby provides notice of a Series 2018-1 Lease Payment Deficit in the amount of $ (consisting of a Series 2018-1 Lease Interest Payment Deficit in the amount of $ and a Series 2018-1 Lease Principal Payment Deficit in the amount of $ ).