Definition of Original Net Equipment Cost


Original Net Equipment Cost means, with respect to any Equipment subject to an Eligible Contract, an amount equal to (a) the Borrower's cost in accordance with GAAP, less (b) the amount of any advance, security deposit or other up-front payment made by the applicable Lessee to such Borrower with respect to such Equipment or the related Contract.
Sample 1

Examples of Original Net Equipment Cost in a sentence

Aggregate Original Net Equipment Cost means, as of any date of determination, an amount equal to the sum of the Original Net Equipment Costs of all Equipment then subject to an Eligible Contract.