Definition of Sales Proceeds Advance

  1. Sales Proceeds Advance means the amount advanced by the Servicer to the Issuer on a Deposit Date equal to the Securitization Value of a 20[__]-[__] Lease that was terminated during the related Collection Period and for which the related 20[__]-[__] Vehicle was not sold by the Servicer.

Examples of Sales Proceeds Advance in a sentence

  1. Advance means a Sales Proceeds Advance or a Monthly Payment Advance, as the context may require.

Definition of Sales Proceeds Advance in Financial Services Vehicle Trust

Sales Proceeds Advance means the amount advanced by the Servicer to the Issuer on a Deposit Date equal to the Securitization Value of a 20[__]-[__] Lease that was terminated during the related Collection Period and for which the related 20[__]-[__] Vehicle was not sold by the Servicer.


Definition of Sales Proceeds Advance in Supplement

Sales Proceeds Advance means the amount advanced by the Servicer to the Issuer on a Deposit Date equal to the Securitization Value of a 2017-1 Lease that was terminated during the related Collection Period and for which the related 2017-1 Vehicle was not sold in such Collection Period by the Servicer.