Lease Principal Payment Deficit definition

Lease Principal Payment Deficit means on any Payment Date the sum of (a) the Monthly Lease Principal Payment Deficit for such Payment Date and (b) the Lease Principal Payment Carryover Deficit for such Payment Date.
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Lease Principal Payment Deficit means on any Distribution Date the sum of (a) the Series 2003-1 Monthly Lease Principal Payment Deficit for such Distribution Date and (b) the Series 2003-1 Lease Principal Payment Carryover Deficit for such Distribution Date. "SERIES 2003-1 LETTER OF CREDIT" means an irrevocable letter of credit, if any, substantially in the form of EXHIBIT D to this Supplement issued by a Series 2003-1 Eligible Letter of Credit Provider in favor of the Trustee for the benefit of the Series 2003-1 Noteholders. "SERIES 2003-1 LETTER OF CREDIT AMOUNT" means, as of any date of determination, the aggregate outstanding principal amount of the Series 2003-1 Demand Notes on such date. "SERIES 2003-1 LETTER OF CREDIT EXPIRATION DATE" means, with respect to any Series 2003-1 Letter of Credit, the expiration date set forth in such Series 2003-1 Letter of Credit, as such date may be extended in accordance with the terms of such Series 2003-1 Letter of Credit. "SERIES 2003-1 LETTER OF CREDIT LIQUIDITY AMOUNT" means, as of any date of determination, the sum of (a) the aggregate amount available to be drawn on such date under each Series 2003-1 Letter of Credit, as specified therein, and (b) if the Series 2003-1 Cash Collateral Account has been established and funded pursuant to Section 3.8 of this Supplement, the Series 2003-1 Available Cash Collateral Account Amount on such date. "SERIES 2003-1 LETTER OF CREDIT PROVIDER" means the issuer of a Series 2003-1 Letter of Credit. "SERIES 2003-1 LETTER OF CREDIT TERMINATION DATE" means the first to occur of (a) the date on which the Series 2003-1 Notes are fully paid and (b) the Series 2003-1 Termination Date. "SERIES 2003-1 LIMITED LIQUIDATION EVENT OF DEFAULT" means, so long as such event or condition continues, any event or condition of the type specified in clauses (a) through (h) of Article IV; PROVIDED, HOWEVER, that any event or condition of the type specified in clauses
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Lease Principal Payment Deficit means on any Payment Date the sum of (a) the Monthly Lease Principal Payment Deficit for such Payment Date and (b) the Lease Principal Payment Carryover Deficit for such Payment Date. “Lease Vehicle Acquisition Schedule” has the meaning specified in Clause 2.1(c) (Lease Vehicle Acquisition Schedules) of the Master Lease. “Lease Vehicles” means, as of any date of determination, each vehicle (i) that has been accepted by a Lessee in accordance with Clause 2.1(d) of the Master Lease and (ii) as of such date the Vehicle Lease Expiration Date with respect to such vehicle has not occurred since such vehicle’s most recent Vehicle Lease Commencement Date; provided that, solely with respect to the calculation and payment of Final Base Rent, any Non-Program Vehicle Special Default Payment Amount, any Program Vehicle Special Default Payment Amount, any Casualty Payment Amount, any Early Program Return Payment Amount, any Pre-VLCD Program Vehicle Depreciation Amount, any Program Vehicle Depreciation Assumption True-up Amount, any Redesignation to Program Amount or any Redesignation to Non-Program Amount, in each case with respect to any vehicle satisfying the preceding clause (i), such vehicle shall be deemed to be a ‘Lease Vehicle’ (notwithstanding the occurrence of such Vehicle Lease Expiration Date with respect thereto) until such Final Base Rent, Non-Program Vehicle Special Default Payment Amount, Program Vehicle Special Default Payment Amount, Casualty Payment Amount, Early Program Return Payment Amount, Pre-VLCD Program Vehicle Depreciation Amount, Program Vehicle Depreciation Assumption True-up Amount, Redesignation to Program Amount or Redesignation to Non-Program Amount, as applicable, has been paid by the Lessee of such vehicle (as of such Vehicle Lease Expiration Date with respect thereto), none of which, for the avoidance of doubt, shall be payable more than once with respect to any such vehicle by such Lessee. “Leasing Company” means each FleetCo and each Additional Leasing Company. “Leasing Company Amortization Event” means a Dutch Leasing Company Amortization Event, French Leasing Company Amortization Event, German Leasing Company Amortization Event or Spanish Leasing Company Amortization Event, as applicable. “Leasing Company Note” means the Dutch Notes, German Notes and Spanish Notes, as applicable. “Legacy NBV” means, with respect to any Lease Vehicle that is an Inter-Group Transferred Vehicle, the excess of (a) the net book value of such Inter-Group...
Sample 1

Examples of Lease Principal 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 €[●]).

  • If the Principal Deficit Amount is greater than zero on any date or the Administrator determines that there exists a Series 2009-1 Lease Principal Payment Deficit, the Administrator shall promptly provide written notice thereof to the Administrative Agent and the Trustee.

  • If the Administrator determines on the Business Day immediately preceding any Distribution Date during the Series 2010-6 Rapid Amortization Period that on such Distribution Date there will exist a Series 2010-6 Lease Principal Payment Deficit, the Administrator shall instruct the Trustee in writing to draw on the Series 2010-6 Letters of Credit, if any, as provided below.

  • If the Administrator determines on the Business Day immediately preceding any Distribution Date during the Series 2015-3 Rapid Amortization Period that on such Distribution Date there will exist a Series 2015-3 Lease Principal Payment Deficit, the Administrator shall instruct the Trustee in writing to draw on the Multi-Series Letters of Credit, if any, as provided below.

  • If the Administrator determines on the Business Day immediately preceding any Distribution Date during the Series 2010-6 Rapid Amortization Period that on such Distribution Date there will exist a Series 2010-6 Lease Principal Payment Deficit, the Administrator shall instruct the Trustee in writing to draw on the Multi-Series Letters of Credit, if any, as provided below.

  • If the Administrator determines on the Business Day immediately preceding any Distribution Date during the Series 2015-3 Rapid Amortization Period that on such Distribution Date there will exist a Series 2015-3 Lease Principal Payment Deficit, the Administrator shall instruct the Trustee in writing to draw on the Series 2015-3 Letters of Credit, if any, as provided below.

  • Pursuant to Section 5.9(a) and (b) of the Series 2014-A Supplement, The Hertz Corporation, in its capacity as Group I Administrator under the Group I Related Documents and the Series 2014-A Related Documents, hereby provides notice of a Series 2014-A Lease Payment Deficit in the amount of $ (consisting of a Series 2014-A Lease Interest Payment Deficit in the amount of $ and a Series 2014-A Lease Principal Payment Deficit in the amount of $ ).

  • If the Administrator determines on any Distribution Date during the Series 2004-4 Amortization Period that there exists a Series 2004-4 Lease Principal Payment Deficit, the Administrator shall instruct the Trustee in writing to draw on the Series 2004-4 Letters of Credit, if any, as provided below.


More Definitions of Lease Principal Payment Deficit

Lease Principal Payment Deficit means on any Distribution Date an amount equal to the excess, if any, of (a) the aggregate amount of Principal Collections which pursuant to Section 3.2(a), (b) or (c) would have been allocated to the Series 2002-3 Collection Account if all payments 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 Principal Collections which pursuant to Section 3.2(a), (b) or (c) have been allocated to the Series 2002-3 Collection Account (without giving effect to any amounts paid into the Series 2002-3 Accrued Interest Account pursuant to the 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 LIMITED LIQUIDATION EVENT OF DEFAULT" means, so long as such event or condition continues, any event or condition of the type specified in clauses (a) through (g) of Article IV; PROVIDED, HOWEVER, that any event or condition of the type specified in clauses (a) through (g) of Article IV shall not constitute a Series 2002-3 Limited Liquidation Event of Default if (i) within such thirty (30) day period, such Amortization Event shall have been cured, or (ii) the Trustee shall have received the written consent of the Series 2002-3 Noteholders waiving the occurrence of such Series 2002-3 Limited Liquidation Event of Default. "SERIES 2002-3 MAXIMUM AGGREGATE SUBARU/HYUNDAI/SUZUKI AMOUNT" means, as of any day, with respect to Subaru, Hyundai and Suzuki, in the aggregate, an amount equal to 10% of the aggregate Net Book Value of all Vehicles leased under the Leases on such day. "SERIES 2002-3 MAXIMUM INVESTED AMOUNT" means, as of any day, the lesser of (i) $75,000,000 and (ii) the excess of the Series 2002-2 Maximum Invested Amount (as defined in the Series 2002-2 Supplement) over the Series 2002-2 Invested Amount (as defined in the Series 2002-2 Supplement). The Series 2002-3 Maximum Invested Amount shall be reduced to zero on the Swing-Line Commitment Termination Date. "SERIES 2002-3 MAXIMUM AMOUNT" means any of the Series 2002-3 Maximum Manufacturer Amounts, the Series 2002-3 Maximum Financed Vehicle Amount, the Series 2002-3 Maximum Non-Eligible Manufacturer Amount, the Series 2002-3 Maximum Non-Program Vehicle Amount or the Series 2002-3 Maximum Specified States Amount.
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Related to Lease Principal Payment Deficit

  • Senior Principal Payment Amount For any Distribution Date on or after the Stepdown Date and as long as a Trigger Event has not occurred with respect to such Distribution Date, will be the amount, if any, by which (x) the Class Principal Balance of the Senior Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 57.40% and (ii) the Aggregate Collateral Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Collateral Balance for such Distribution Date exceeds (ii) 0.50% of the Aggregate Collateral Balance as of the Cut-off Date (including amounts in the Prefunding Account as of the Closing Date).

  • Expected Principal Payment Date means April 15, 2010.

  • Principal Payment Any payment of principal on a Mortgage Loan other than a Principal Prepayment.

  • Principal Payment Date means, if applicable, each date designated as such in the Series Term Sheet.

  • Principal Deficit Amount means, as of any date of determination, the excess, if any, of (i) the Series 2012-1 Invested Amount on such date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (ii) the Series 2012-1 AESOP I Operating Lease Loan Agreement Borrowing Base on such date; provided, however that the Principal Deficit Amount on any date occurring during the period commencing on and including the date of the filing by any of the Lessees of a petition for relief under Chapter 11 of the Bankruptcy Code to but excluding the date on which each of the Lessees shall have resumed making all payments of the portion of Monthly Base Rent relating to Loan Interest required to be made under the AESOP I Operating Lease, shall mean the excess, if any, of (x) the Series 2012-1 Invested Amount on such date (after giving effect to the distribution of Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (y) the sum of (1) the Series 2012-1 AESOP I Operating Lease Loan Agreement Borrowing Base on such date and (2) the lesser of (a) the Series 2012-1 Liquidity Amount on such date and (b) the Series 2012-1 Required Liquidity Amount on such date.

  • Principal Payment Amount For any Distribution Date, an amount equal to the related Principal Remittance Amount for such date minus the related Overcollateralization Release Amount, if any, for such date.

  • Monthly Principal Reallocation Amount means, for any Monthly Period, an amount equal to the sum of:

  • Note Monthly Principal Distributable Amount means, with respect to any Payment Date, the Note Percentage of the Principal Distributable Amount for such Payment Date.

  • Nominal Liquidation Amount Deficit means, for any tranche of notes, the Adjusted Outstanding Dollar Principal Amount minus the nominal liquidation amount of that tranche.

  • Class A Monthly Principal shall have the meaning specified in Section 4.03(a).

  • Amortization Payment Date shall have the meaning set forth in Section 2(d).

  • Scheduled Principal Payment Amount means, for the Notes of any Series or Class, as applicable, on any Payment Date, the excess, if any, of (x) the then Outstanding Principal Balance of such Series or Class of Notes, as applicable, over (y) the Scheduled Targeted Principal Balance of such Series or Class, as applicable, for such Payment Date.

  • Class B Monthly Principal shall have the meaning specified in Section 4.03(b).

  • Principal Payments means all payments of principal made pursuant to the terms of the Note.

  • Deficit Amount has the meaning specified in Section 3.4(d).

  • Scheduled Principal Payment Date means April 15, 2008.

  • Basic Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the Principal Remittance Amount for such Distribution Date over (ii) the Excess Subordinated Amount, if any, for such Distribution Date.

  • Group II Basic Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the Group II Principal Remittance Amount for such Distribution Date over (ii)(a) the Overcollateralization Release Amount, if any, for such Distribution Date multiplied by (b) the Group II Allocation Percentage.

  • REMIC 2 Principal Loss Allocation Amount With respect to any Distribution Date and the mortgage loans, an amount equal to (a) the product of (i) the Aggregate Stated Principal Balance of the Mortgage Loans and related REO Properties then outstanding and (ii) 1 minus a fraction, the numerator of which is two times the aggregate of the Uncertificated Principal Balances of REMIC 2 Regular Interest A-1, REMIC 2 Regular Interest A-1M, REMIC 2 Regular Interest A-1W, REMIC 2 Regular Interest A-2A, REMIC 2 Regular Interest A-2B, REMIC 2 Regular Interest A-2C, REMIC 2 Regular Interest A-2D, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest M-7, REMIC 2 Regular Interest M-8 and REMIC 2 Regular Interest B, and the denominator of which is the aggregate of the Uncertificated Principal Balances of REMIC 2 Regular Interest A-1, REMIC 2 Regular Interest A-1M, REMIC 2 Regular Interest A-1W, REMIC 2 Regular Interest A-2A, REMIC 2 Regular Interest A-2B, REMIC 2 Regular Interest A-2C, REMIC 2 Regular Interest A-2D, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B and REMIC 2 Regular Interest ZZ.

  • Group I Basic Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the Group I Principal Remittance Amount for such Distribution Date over (ii)(a) the Overcollateralization Release Amount, if any, for such Distribution Date multiplied by (b) the Group I Allocation Percentage.

  • Amortization Amount shall have the meaning provided in Section 5.2(c).

  • Subordinate Principal Prepayments Distribution Amount For any Distribution Date, the Subordinate Prepayment Percentage of the Principal Prepayment Amount.

  • Group II Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group II Principal Distribution Amount.