Payahead Draw definition

Payahead Draw means, for a Lease and a Collection Period, an amount equal to:

Examples of Payahead Draw in a sentence

  • The Servicer may, at its option, make an advance for each Active Lease other than an Advance Payment Plan Lease and each Collection Period if the Base Payment exceeds the sum of (i) Active Lease Proceeds (which may be positive or negative) plus (ii) the Payahead Draw, by depositing the amount of the excess (equal to the Active Lease Advance) in the Exchange Note Collection Account on the Business Day before the related Payment Date or, with satisfaction of the Rating Agency Condition, on that Payment Date.

  • The Trustee shall deposit in the Collection Account the aggregate of any Reserve Draw Amounts pursuant to Section 3.05, the aggregate of any amounts received from JLACC under the Sale and Servicing Agreement, and the Payahead Draw Amount due pursuant to Section 3.06, in each case on the Deposit Date or Monthly Payment Date, as applicable.

Related to Payahead Draw