Eligible Lease definition

Eligible Lease means, as of any date of determination, a Lease for a Property that satisfies all of the following:

Eligible Lease means a Closed-End Lease:

Eligible Lease means a Lease that has been validly assigned to the Vehicle Trust by a Center as of the Closing Date and for which the related Vehicle is one which the Vehicle Trust or the Vehicle Trustee on behalf of the Vehicle Trust shall have good and marketable title as of the Closing Date.

Examples of Eligible Lease in a sentence

• In addition, each Debtor (and any lessee under an Eligible Lease) may remove in the ordinary course of maintenance, service, repair, overhaul or testing, any Parts, whether or not worn out, lost, stolen, destroyed, seized, confiscated, damaged beyond repair or rendered permanently unfit for use; provided that such Debtor will replace (or Debtor will require that the lessee under an Eligible Lease replace) such Parts as promptly as practicable.

• Remaining Instalments for Eligible Rent during Eligible Lease Period Payable following the end of each Financial Quarter after the first Financial Quarter upon a claim by a Recipient following satisfactory completion of Milestone(s) The Recipient must satisfy the following Eligibility Criteria: (a) sections 3 and 4.1 and if occupation has commenced or ought to commence, section 4.3; and (c) any other any other criteria relevant to the Rental Rebate.

• The Recipient must provide the following documents to the Agency: (a) invoice and receipts as proof of payment of Eligible Rent under the Eligible Lease Agreement for the previous Financial Quarter; (b) any information required for an application under the Guidelines that was not previously provided; (c) a Declaration; and (d) any other information requested by the Agency relating to the Recipient's compliance with this Agreement and eligibility for the Rental Rebate.

• The Borrower, the Borrower Subsidiaries and the Service Providers at all times shall be entitled to withdraw funds from the Supplemental Rent Account and the Security Deposit Account to the extent such parties are required to pay amounts in respect of Supplemental Rent or Security Deposits to Lessees or other third parties pursuant to the terms of any Eligible Lease or the Service Provider Agreements.

• The copy of such Eligible Lease in the Property File is true and complete in all material respects and there are no material oral agreements with respect thereto.

More Definitions of Eligible Lease

Eligible Lease means a Lease that has been validly assigned to the Trust by a BMW Center as of the Closing Date and for which the related [____]-[_] Vehicle is one which the Trust or the Trustee on behalf of the Trust shall have good and marketable title as of the Closing Date.

Eligible Lease means a lease containing terms and conditions and otherwise in a form consistent with Leasing Company Practice with respect to similar aircraft under lease, taking into consideration, among other things, the identity of the relevant lessee (including operating experience), the age and condition of the applicable Pool Aircraft and the jurisdiction in which such Pool Aircraft will be operated or registered.

Eligible Lease means a lease for Equipment to an unaffiliated Person in which (i) Xxxxxx or its trustee is the sole lessor (ii) the lease arose in the ordinary course of business of Xxxxxx, (iii) the Equipment has been delivered to the lessee and is currently subject to the lease, (iv) neither the lease nor the Equipment is subject to any currently outstanding assignment, claim, lien, security interest or other limitation on the absolute title of Xxxxxx or its trustee thereto, (v) the lease payments are not more than 90 days past due with respect to any payment required thereby (based on the original contractual term and not including any amendment or modification thereof, unless the Required Banks have specifically consented thereto in writing), (vi) the lease is freely assignable (with any notices or consents required in connection therewith having been previously obtained), (vii) the lease is dated and has been in effect for not more than 45 days prior to the date the lease was assigned to First Union, as Agent, and included in the Collateral in the case of leases entered into subsequent to the date hereof; or the lease was assigned to First Union, as Agent, and included in the Collateral within 45 days immediately following the date hereof, in the case of leases existing at the date hereof without regard to the date of the lease; or the lease was assigned to First Union, as Agent, and included in the Collateral within 45 days immediately following the date of acquisition of said lease by Xxxxxx, in the case of leases purchased from unaffiliated persons, (viii) the lease has not been included in the Collateral for a period of more than twenty-four months, (ix) the lease and the Equipment being leased constitute Collateral, (x) the remaining lease term at the time of assignment to First Union, as Agent, is for a period of ten years or less in the case of Category A Equipment and Category B(2) Equipment, (xi) the lease is a noncancellable, triple net lease in which the lessee may not assert, as an offset, any defenses or claims against the lessor arising from the condition or the intended use of the subject matter, except in the case of leases with terms of less than 6 months in which Xxxxxx may be responsible for maintenance and (xii) the lessee is not a resident of, and the Equipment will not be used in any foreign jurisdiction in which the ability of First Union, as Agent, to perfect a first priority security interest in the Equipment is unsatisfactory or the ability...

Eligible Lease means, as of any date of determination, a Lease:

Eligible Lease means a Lease with respect to which the Eligibility Criteria are satisfied or, solely with respect to the first Loan hereunder, waived by the Administrative Agent as of the applicable date of determination.

Eligible Lease means, unless otherwise approved by Owner, a written Lease that satisfies all of the following characteristics:

Eligible Lease means a Lease that as of the date allocated to the Lease SUBI Portfolio was either an Eligible Consumer Lease or a Lease arising under an Eligible Master Lease that satisfied the following eligibility criteria: