Contract Balance Remaining definition

Contract Balance Remaining means, with respect to a Contract, as of any date of determination, the sum of the aggregate (undiscounted) amount of all unpaid Scheduled Payments due thereon; provided, however, that the Contract Balance Remaining of any Defaulted Receivable or Contract with respect to which a prepayment in full has been made or any Contract purchased by the Servicer, as the case may be, shall be deemed to be zero as of the last day of the immediately preceding Remittance Period.
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Contract Balance Remaining has the meaning set forth in Section 7.13(d).
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Contract Balance Remaining. Means, with respect to any Contract, as of any date, the aggregate (un-discounted) amount of all unpaid Scheduled Payments due under such Contract. Contract File. With respect to each Contract, the following documents: (i) The executed original counterparts of the Contract that constitutes "chattel paper" for purposes of Sections 9-105(1)(b) and 9-305 of the UCC; (ii) A copy of any related Broker Agreement; (iii) Copies of all documents (which may be in micro-fiche form or on the Servicer's computerized information system), if any, that the Contributor or the Servicer keeps on file for benefit of the Contributor in accordance with the Contributor's or Servicer's customary procedures indicating that the Equipment is owned by the Contributor and copies of any and all other material documents that the Contributor or the Servicer keeps on file for the benefit of the Contributor in accordance with the Contributor's or Servicer's customary procedures relating to any individual Contract, Broker, User or Equipment (including, without limitation, any documents providing or relating to any credit support of or for the User of such Contract); and (iv) Copies (together with all amendments, assignments, and continuations thereof and including evidence of filing with the appropriate office) of all UCC financing statements filed with respect to the Contracts, identifying the User as debtor and the Contributor as secured party, if any. Contract Principal. With respect to any Contract for any Collection Period, an amount equal to the excess of (i) the Scheduled Payment due on such Contract during such Collection Period over (ii) the product of (x) the Contract Principal Balance as of the opening of business on the first day of such Collection Period and (y) one-twelfth of the Applicable Discount Rate or Payment Interval Adjusted Discount Rate, as applicable.
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Examples of Contract Balance Remaining in a sentence

  • No substitution shall be permitted if the cumulative aggregate balance of the Contract Balance Remaining for all Substitute Contracts exceeds, or would upon such substitution exceed, five percent (5%) of the Maximum Series Limit.

  • At the end of each month, permit (i) the Contract Balance Remaining that is 31-60 days past due to exceed 6.5% of the total Contract Balance Remaining; or (ii) the Contract Balance Remaining that is 61-90 days past due to exceed 2.5% of the total Contract Balance Remaining.

  • Borrower shall not permit, on the last day of any calendar month, the ratio of (i) the aggregate Contract Balance Remaining for all Delinquent Leases in the Borrower Portfolio, as determined on such date, to (ii) the aggregate Contract Balance Remaining for all Leases in the Borrower Portfolio, as determined on such date, to exceed three and one-half percent (3.5%).

  • The Contract Balance Remaining is not discounted for present value.

  • The Loan Parties shall not permit, on the last day of any calendar month, the ratio of (i) the aggregate Contract Balance Remaining for all Delinquent Leases in the Managed Portfolio, as determined on such date, to (ii) the aggregate Contract Balance Remaining for all Leases in the Managed Portfolio, as determined on such date, to exceed three and one-half percent (3.5%).


More Definitions of Contract Balance Remaining

Contract Balance Remaining means, in the case of any Lease and as of any date of determination, the undiscounted unpaid amount of the total minimum lease payments owing on such Lease.
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Related to Contract Balance Remaining

  • Asset Balance means, for any Payment Date, the Pool Balance as of the beginning of the current Collection Period.

  • Target Balance has the meaning set forth in Section 6.1I(1) hereof.

  • Remaining Present Value means, as of any date with respect to any lease, the present value as of such date of the scheduled future lease payments with respect to such lease, determined with a discount rate equal to a market rate of interest for such lease reasonably determined at the time such lease was entered into.

  • Class Balance With respect to any Class of Certificates, at any time, the aggregate of the

  • Remaining Excess Spread With respect to any Distribution Date, the Excess Spread less any Extra Principal Distribution Amount, in each case for such Distribution Date.