Deemed Securitization Indebtedness Sample Clauses

Deemed Securitization Indebtedness. In respect of the Securitization Transactions, Ryder shall be deemed to have incurred Indebtedness in an amount equal to twenty-five percent (25%) of the amount of Indebtedness of Ryder and its Consolidated Subsidiaries or of any special purpose securitization conduit incurred in connection with the relevant Securitization Transaction (excluding any Indebtedness as to which Ryder or any of its Consolidated Subsidiaries is the holder).