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.

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.