Common use of Accumulated Depreciation Clause in Contracts

Accumulated Depreciation. With respect to any Railcar as of the date of determination, an amount equal to the aggregate amount of depreciation expense recorded with respect to such Railcar since the date of original acquisition by the Borrower, according to the Borrower’s depreciation policy as determined in accordance with GAAP and as depreciation policy may be modified in accordance with Section 9.14.

Accumulated Depreciation. With respect to any Eligible Railcar as of the date of determination, an amount equal to the aggregate amount of depreciation expense recorded with respect to such Eligible Railcar since the date of original acquisition by the Borrower, according to the Borrower’s depreciation policy as determined in accordance with GAAP and as depreciation policy may be modified in accordance with Section 9.14GAAP.