Common use of Capital Contribution of and Grant of Security Interest in Equipment Clause in Contracts

Capital Contribution of and Grant of Security Interest in Equipment. (a) The Originator and the Seller each acknowledge and confirm that the Originator, as additional consideration for the membership interests in the Seller, is also contributing and transferring to the Seller, and in connection with each transfer and assignment of Additional Leases and Substitute Leases, the Originator will contribute and transfer to the Seller, without recourse, all right, title and interest of the Originator in and to each item of Equipment subject to each Lease, Additional Lease and Substitute Lease. After such contribution and transfer by the Originator to the Seller, all right, title and interest of the Originator in and to each item of Equipment subject to each Lease shall be vested in the Seller. (b) The Seller and the Issuer each acknowledge and confirm that the Seller is granting a security interest to the Issuer, and in connection with each transfer and assignment of Additional Leases and Substitute Leases the Seller will grant a security interest to the Issuer, in all right, title and interest of the Seller in and to each item of Equipment subject to each Lease, Additional Lease and Substitute Lease, as security for the performance by the Seller of its obligations under Section 5.05. After such grant by the Seller to the Issuer, the Issuer shall have a security interest in all right, title and interest of the Seller in and to each item of Equipment subject to each Lease, Additional Lease and Substitute Lease.

Capital Contribution of and Grant of Security Interest in Equipment. (a) The Originator and the Seller each acknowledge and confirm that the Originator, as additional consideration for the membership beneficial interests in the Seller, is also contributing and transferring to the Seller, and in connection with each transfer and assignment of Additional Leases and Substitute Leases, the Originator will contribute and transfer to the Seller, without recourse, all right, title and interest of the Originator in and to each item of Equipment subject to each Lease, Additional Lease and Substitute Lease. After such contribution and transfer by the Originator to the Seller, all right, title and interest of the Originator in and to each item of Equipment subject to each Lease shall be vested in the Seller. (b) The Seller and the Issuer each acknowledge and confirm that the Seller is granting a security interest to the Issuer, and in connection with each transfer and assignment of Additional Leases and Substitute Leases the Seller will grant a security interest to the Issuer, in all right, title and interest of the Seller in and to each item of Equipment subject to each Lease, Additional Lease and Substitute Lease, as security for the performance by the Seller of its obligations under Section 5.05. After such grant by the Seller to the Issuer, the Issuer shall have a security interest in all right, title and interest of the Seller in and to each item of Equipment subject to each Lease, Additional Lease and Substitute Lease.,

Capital Contribution of and Grant of Security Interest in Equipment. (a) The Originator and the Seller each acknowledge and confirm that the Originator, as additional consideration for the membership beneficial interests in the Seller, is also contributing and transferring to the Seller, and in connection with each transfer and assignment of Additional Leases and Substitute Leases, the Originator will contribute and transfer to the Seller, without recourse, all right, title and interest of the Originator in and to each item of Equipment subject to each Lease, Additional Lease and Substitute Lease. After such contribution and transfer by the Originator to the Seller, all right, title and interest of the Originator in and to each item of Equipment subject to each Lease shall be vested in the Seller. (b) The Seller and the Issuer each acknowledge and confirm that the Seller is granting a security interest to the Issuer, and in connection with each transfer and assignment of Additional Leases and Substitute Leases the Seller will grant a security interest to the Issuer, in all right, title and interest of the Seller in and to each item of Equipment subject to each Lease, Additional Lease and Substitute Lease, as security for the performance by the Seller of its obligations under Section 5.05. After such grant by the Seller to the Issuer, the Issuer shall have a security interest in all right, title and interest of the Seller in and to each item of Equipment subject to each Lease, Additional Lease and Substitute Lease.