Common use of Monthly Variable Rent Clause in Contracts

Monthly Variable Rent. On each Payment Date, after giving credit for all prepayments on account thereof pursuant to (f) below, each Lessee shall pay to the Lessor the Monthly Variable Rents that have accrued during the Related Month with respect to all Vehicles that were leased by such Lessee under the Operating Lease on any day during the Related Month. On each other date on which Note Interest is due and payable under the terms of a Series 1997 Variable Funding Supplement, each Lessee shall pay to the Lessor, as Monthly Variable Rent, an amount equal to the amount of Note Interest due and payable on such date in respect of the Series 1997 Variable Funding Notes.

Monthly Variable Rent. On each Payment Date, after giving credit for all prepayments on account thereof pursuant to (f) below, each Lessee shall pay to the Lessor the Monthly Variable Rents that have accrued during the Related Month with respect to all Vehicles that were leased by such Lessee under the Operating Synthetic Lease on any day during the Related Month. On each other date on which Note Interest is due and payable under the terms of a Series 1997 Variable Funding Supplement, each Lessee shall pay to the Lessor, as Monthly Variable Rent, an amount equal to the amount of Note Interest due and payable on such date in respect of the Series 1997 Variable Funding Notes.