Underlying Equipment definition
Underlying Equipment means the equipment or Vehicle leased or sold to an Underlying Obligor by an Underlying Originator, or serving as collateral for a loan to an Underlying Obligor by an Underlying Originator, under an Underlying Contract together with any replacement parts, additions and repairs thereof, and any accessories incorporated therein and/or affixed thereto.
Examples of Underlying Equipment in a sentence
The Underlying Obligor, with respect to each such Underlying Contract, has a billing address in the United States and, except as otherwise permitted in writing by the Lender from time to time, the Underlying Equipment which is the subject of each such Underlying Contract and all other Obligor Collateral with respect thereto is located in the United States.