Net Windfall definition

Net Windfall means the excess of Actual Collections over the Expected Payments or Fixed Contract Payments made by Servicer to Element with respect to a Transaction.
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Examples of Net Windfall in a sentence

  • Servicer shall promptly notify Element of the Current Vehicle Value, the Current NBV, the balance of approved Covered Expenses and Net Shortfall or Net Windfall and the amount of any available Security Deposit Accrual relating to the Defaulted Vehicle.

  • All Covered Expenses, Security Deposit Accruals and any Net Shortfall or Net Windfall associated with the original Transaction will automatically attach to the Rewritten Transaction.

  • For Distribution Waterfall (as herein defined) purposes, the Retained Team Lease Payments shall be included as an addition to the Net Windfall (as herein defined), or a reduction in the Net Shortfall (as herein defined), as the case may be.

  • All Covered Expenses (as defined in the Reserve Account Agreement), Security Deposit Accruals and any Net Shortfall or Net Windfall (all as herein defined) associated with the original Transaction will automatically attach to the Rewritten Transaction.

  • For Distribution Waterfall purposes, the Retained Team Lease Payments shall be included as an addition to the Net Windfall, or a reduction in the Net Shortfall, as the case may be.

Related to Net Windfall

  • Distributable Income means, for any period, the net income of Centurion Apartment REIT, including income earned from its proportionate interest under the Rollover Agreement and its applicable consolidated Subsidiaries for such period set out in its consolidated financial statements as determined in accordance with GAAP, subject to certain adjustments, including: (a) adding back the following items: depreciation, amortization (except for amortization of deferred financing costs, future income tax expense, losses on dispositions of assets and amortization of any net discount on long-term debt assumed from vendors of properties at rates of interest less than fair value); and (b) deducting the following items: future income tax credits, interest on convertible debentures to the extent not already deducted in computing net income, gains on dispositions of assets and amortization of any net premium on long- term debt assumed from vendors of properties at rates of interest greater than fair value and any other adjustments determined by the Trustees in their discretion.

  • Profits or “Losses” means, for each Fiscal Year or other taxable period, an amount equal to the Company’s taxable income or loss for such year or period, determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments (without duplication):

  • Realized Tax Benefit means, for a Taxable Year, the excess, if any, of the Hypothetical Tax Liability over the Actual Tax Liability. If all or a portion of the Actual Tax Liability for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Benefit unless and until there has been a Determination.

  • Applicable Tax State means, as of any date, (i) any State in which the Owner Trustee maintains the Corporate Trust Office, (ii) any State in which the Owner Trustee maintains its principal executive offices and (iii) any State in which the Servicer regularly conducts servicing and collection activities (other than purely ministerial activities) with respect to a material portion of the Receivables.

  • Realized Tax Detriment means, for a Taxable Year, the excess, if any, of the Actual Tax Liability over the Hypothetical Tax Liability. If all or a portion of the actual liability for such Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Detriment unless and until there has been a Determination.