Common use of Ownership of and Rights in Units and Pledged Units Clause in Contracts

Ownership of and Rights in Units and Pledged Units. The sale of the Units described on Schedule 1-A hereto and the Existing Equipment Subleases, the Pledged Units and the Existing Pledged Equipment Leases by TRLTII contemplated hereby is intended for all purposes to be a true sale of all of TRLTII's right, title and interest in and to such Units, the Existing Equipment Subleases, the Pledged Units and the Existing Pledged Equipment Leases to the Lessee, which shall be the legal owner thereof upon such sale. Upon consummation of the sale and leaseback transactions contemplated hereby, the Lessee's interest in such Units is intended to be that of a lessee only. It is intended that for federal and state income tax purposes the Owner Participant will be the owner of such Units. The rights of the Indenture Trustee in and to such Units pursuant to the Indenture is intended to be that of a secured party holding a security interest, subject to the Lease and the rights of the Lessee thereunder. No holder of an Equipment Note is intended to have any right, title or interest in or to such Units except as a beneficiary of the Lien granted by the Owner Trustee to the Indenture Trustee pursuant to the Indenture in trust for the equal and ratable benefit of the holders from time to time of the Equipment Notes.

Ownership of and Rights in Units and Pledged Units. The sale of the Units described on Schedule 1-A hereto and 1 hereto, the Existing Equipment Subleases, the Pledged Units and the Existing Pledged Equipment Leases by TRLTII TILC contemplated hereby is intended for all purposes to be a true sale of all of TRLTIITILC's right, title and interest in and to such Units, the Existing Equipment Subleases, the Pledged Units and the Existing Pledged Equipment Leases to the Lessee, which shall be the legal owner thereof upon such sale. Upon consummation of the sale and leaseback transactions contemplated hereby, the Lessee's interest in such Units is intended to be that of a lessee only. It is intended that for federal and state income tax purposes the Owner Participant will be the owner of such Units. The rights of the Indenture Trustee in and to such Units pursuant to the Indenture is intended to be that of a secured party holding a security interest, subject to the Lease and the rights of the Lessee thereunder. No holder of an Equipment Note is intended to have any right, title or interest in or to such Units except as a beneficiary of the Lien granted by the Owner Trustee to the Indenture Trustee pursuant to the Indenture in trust for the equal and ratable benefit of the holders from time to time of the Equipment Notes.

Ownership of and Rights in Units and Pledged Units. The sale of the Units described on Schedule 1-A hereto and 1 hereto, the Existing Equipment Subleases, the Pledged Units and the Existing Pledged Equipment Leases by TRLTII TILC contemplated hereby is intended for all purposes to be a true sale of all of TRLTIITILC's right, title and interest in and to such Units, the Existing Equipment Subleases, the Pledged Units and the Existing Pledged Equipment Leases to the Lessee, which shall be the legal owner thereof upon such sale. Upon consummation of the sale and leaseback transactions contemplated hereby, the Lessee's interest in such Units is intended to be that of a lessee only. It is intended that for federal and state income tax purposes the Owner Participant will be the owner of such Units. The rights of the Indenture Trustee in and to such Units pursuant to the Indenture is intended to be that of a secured party holding a security interest, subject to the Lease and the rights of the Lessee thereunder. No holder of an Equipment Note is intended to have any right, title or interest in or to such Units except as a beneficiary of the Lien granted by the Owner Trustee to the Indenture Trustee pursuant to the Indenture in trust for the equal and ratable benefit of the holders from time to time of the Equipment Notes.Equipment

Ownership of and Rights in Units and Pledged Units. The sale of the Units described on Schedule 1-A hereto and the Existing Equipment Subleases, the Pledged Units and the Existing Pledged Equipment Leases by TRLTII contemplated hereby is intended for all purposes to be a true sale of all of TRLTII's right, title and interest in and to such Units, the Existing Equipment Subleases, the Pledged Units and the Existing Pledged Equipment Leases to the Lessee, which shall be the legal owner thereof upon such sale. Upon consummation of the sale and leaseback transactions contemplated hereby, the Lessee's interest in such Units is intended to be that of a lessee only. It is intended that for federal and state income tax purposes the Owner Participant will be the owner of such Units. The rights of the Indenture Trustee in and to such Units pursuant to the Indenture is intended to be that of a secured party holding a security interest, subject to the Lease and the rights of the Lessee thereunder. No holder of an Equipment Note is intended to have any right, title or interest in or to such Units except as a beneficiary of the Lien granted by the Owner Trustee to the Indenture Trustee pursuant to the Indenture in trust for the equal and ratable benefit of the holders from time to time of the Equipment Notes.Equipment