Residual Value Loss definition
Examples of Residual Value Loss in a sentence
No later than 2:00 p.m., New York City time, on each Transfer Date, the Issuer shall direct the Indenture Trustee in writing to withdraw from the Gain on Sale Account an amount equal to the lesser of (x) the Monthly Residual Value Loss for the immediately preceding Monthly Period and (y) the amount then on deposit in the Gain on Sale Account and deposit such amount into the Collection Account for allocation in accordance with Article 5, as modified by any Indenture Supplement.
No later than 2:00 p.m. (New York City time) on each Transfer Date, the Issuer shall direct the Indenture Trustee in writing to withdraw from the Gain on Sale Account an amount equal to the lesser of (x) the Monthly Residual Value Loss for the immediately preceding Monthly Period and (y) the amount then on deposit in the Gain on Sale Account and deposit such amount into the Collection Account for allocation in accordance with Article 5, as modified by any Indenture Supplement.
So long as Auto Lenders is not in default under any guaranty furnished by it, the balance of each Residual Value Loss Reserve Account and accrued interest shall be paid to Auto Lenders under the Guaranty provided pursuant to this Agreement.
Utility shall give Licensee the option to remove its Attachment(s) from the affected Pole(s) or to pay for the cost of any Make-Ready Work needed to expand Capacity so that Licensee can maintain its Attachment on the affected Pole(s).
A minimum of $100.00 of the Lease Guaranty Fee shall be reserved by the applicable Guaranteed Party or the Lender participating in the Program and credited to a Residual Value Loss Reserve Account maintained by such Guaranteed Party or the Lenders, as applicable, in the name of Auto Lenders.
Auto Lenders agrees to maintain the Residual Value Loss Reserve Accounts so long as Auto Lenders has any obligation to a participating Lender or any Guaranteed Party on one or more leases subject to the Guaranty.
This Certificate is limited in right of payment to certain collections and recoveries respecting the 1999-A SUBI Interest and the 1999-A SUBI Certificate, Insured Residual Value Loss Amounts paid under the Residual Value Insurance Policy and certain monies on deposit in the Reserve Fund and in certain other accounts, in each case to the extent and as more specifically set forth in the Agreement.
For the avoidance of doubt, the Insurer will not be deemed to have accepted a Proof of Loss until it has determined that the Proof of Loss provides a complete and correct description of all amounts relevant to the calculation of the Residual Value Loss Amount and that the conditions set forth in Article 7.E of the Insurance Policy have been satisfied or will be satisfied concurrently with payment of the Residual Value Loss Amount.
For the avoidance of doubt, upon the payment of the Residual Value Loss Amount as so determined in Article 7.C.1 of the Insurance Policy, the Named Insured will not submit any additional Collection Costs, and no further Collection Costs will be considered in connection with the Residual Value Loss Amount, nor will the Insurer be required to pay any further amounts to the Named Insured.
Such amount will be used to offset the amount of the Residual Value Loss Amount, as further described in Section 7.10.