Common use of Permitted Securitization Clause in Contracts

Permitted Securitization. Each of (A) the transactions contemplated by the Master Indenture Documents, and (B) any other transaction pursuant to which (i) the Borrower and/or its Subsidiaries either (x) sells, conveys or otherwise transfers, or grants a security interest in, containers or chassis, leases and other related assets or (y) sells, conveys, issues or otherwise transfers or grants a security interest in a SUBI, in either case, to any other Person (other than the Borrower or any of its Subsidiaries), (ii) such other Person issues Indebtedness (or interests therein) that is secured by such containers or chassis, leases and other related assets (or by a SUBI), (iii) none of the Borrower or any of its Restricted Subsidiaries (other than such other Person) has any obligation to maintain such entity's financial condition or cause such entity to achieve certain levels of operating results (other than those related to or incidental to the relevant Permitted Securitization) and (iv) none of the holders of the Indebtedness shall have recourse to the Borrower or any of its Restricted Subsidiaries (other than such other Person) for credit losses on leases or the inability of the containers or chassis, in each case subject to the Permitted Securitization, to generate sufficient cash flow to repay the Indebtedness issued by such entity. Permitted Transaction. Any of the following transactions:

Permitted Securitization. Each of (A) the transactions contemplated by effected or to be effected from time to time pursuant to the Master Indenture Documents, and (B) any other transaction pursuant to which (i) the Borrower and/or its Respective Subsidiaries either (x) sells, conveys or otherwise transfers, or grants a security interest in, containers or chassis, leases and other related assets or (y) sells, conveys, issues or otherwise transfers or grants a security interest in a SUBI, in either case, to a Special Purpose Vehicle or any other Person (other than the Borrower or any of its respective Subsidiaries), (ii) such Special Purpose Vehicle or such other Person issues Indebtedness (or interests therein) that is secured by such containers or chassis, leases and other related assets (or by a SUBI), (iii) none of neither the Borrower or nor any of its Restricted Subsidiaries (other than such other Persona Special Purpose Vehicle) has any obligation to maintain such entity's ’s financial condition or cause such entity to achieve certain levels of operating results (other than those related to or incidental to the relevant Permitted Securitization) and (iv) none of the holders of the related Indebtedness shall have recourse to the Borrower or any of its Restricted Subsidiaries (other than such other Persona Special Purpose Vehicle) for credit losses on leases or the inability of the containers or chassis, in each case subject to the Permitted Securitization, to generate sufficient cash flow to repay the such Indebtedness issued by such entity. Permitted Transaction. Any of the following transactions:.

Permitted Securitization. Each of (A) the transactions contemplated by effected or to be effected from time to time pursuant to the Master Indenture Documents, and (B) any other transaction pursuant to which (i) the Borrower and/or its Respective Subsidiaries either (x) sells, conveys or otherwise transfers, or grants a security interest in, containers or chassis, leases and other related assets or (y) sells, conveys, issues or otherwise transfers or grants a security interest in a SUBI, in either case, to a Special Purpose Vehicle or any other Person (other than the Borrower or any of its respective Subsidiaries), (ii) such Special Purpose Vehicle or such other Person issues Indebtedness (or interests therein) that is secured by such containers or chassis, leases and other related assets (or by a SUBI), (iii) none of neither the Borrower or nor any of its Restricted Subsidiaries (other than such other Persona Special Purpose Vehicle) has any obligation to maintain such entity's financial condition or cause such entity to achieve certain levels of operating results (other than those related to or incidental to the relevant Permitted Securitization) and (iv) none of the holders of the related Indebtedness shall have recourse to the Borrower or any of its Restricted Subsidiaries (other than such other Persona Special Purpose Vehicle) for credit losses on leases or the inability of the containers or chassis, in each case subject to the Permitted Securitization, to generate sufficient cash flow to repay the such Indebtedness issued by such entity. Permitted Transaction. Any of the following transactions:

Permitted Securitization. Each of (Aa) the transactions contemplated by effected or to be effected from time to time pursuant to the Master Indenture Documents, and (Bb) any other transaction pursuant to which (i) the Borrower and/or its Respective Subsidiaries either (x) sells, conveys or otherwise transfers, or grants a security interest in, containers or chassis, leases and other related assets or (y) sells, conveys, issues or otherwise transfers or grants a security interest in a SUBI, in either case, to a Special Purpose Vehicle or any other Person (other than the Borrower or any of its respective Subsidiaries), (ii) such Special Purpose Vehicle or such other Person issues Indebtedness (or interests therein) that is secured by such containers or chassis, leases and other related assets (or by a SUBI), (iii) none of neither the Borrower or nor any of its Restricted Subsidiaries (other than such other Persona Special Purpose Vehicle) has any obligation to maintain such entity's ’s financial condition or cause such entity to achieve certain levels of operating results (other than those related to or incidental to the relevant Permitted Securitization) and (iv) none of the holders of the related Indebtedness shall have recourse to the Borrower or any of its Restricted Subsidiaries (other than such other Persona Special Purpose Vehicle) for credit losses on leases or the inability of the containers or chassis, in each case subject to the Permitted Securitization, to generate sufficient cash flow to repay the such Indebtedness issued by such entity. Permitted Transaction. Any of the following transactions:.

Permitted Securitization. Each of (A) the transactions contemplated by the Master Indenture Documents, and (B) any other transaction pursuant to which (i) one or more of the Borrower Borrowers and/or its their respective Subsidiaries either (x) sells, conveys or otherwise transfers, or grants a security interest in, containers or chassis, leases and other related assets or (y) sells, conveys, issues or otherwise transfers or grants a security interest in a SUBI, in either case, to a Special Purpose Vehicle or any other Person (other than the Borrower Borrowers or any of its their respective Subsidiaries), (ii) such Special Purpose Vehicle or such other Person issues Indebtedness (or interests therein) that is secured by such containers or chassis, leases and other related assets (or by a SUBI), (iii) none of the Borrower Borrowers or any of its their respective Restricted Subsidiaries (other than such other Persona Special Purpose Vehicle) has any obligation to maintain such entity's financial condition or cause such entity to achieve certain levels of operating results (other than those related to or incidental to the relevant Permitted Securitization) and (iv) none of the holders of the Indebtedness shall have recourse to the Borrower Borrowers or any of its their Restricted Subsidiaries (other than such other Persona Special Purpose Vehicle) for credit losses on leases or the inability of the containers or chassis, in each case subject to the Permitted Securitization, to generate sufficient cash flow to repay the Indebtedness issued by such entity. Permitted Transaction. Any of the following transactions:

Permitted Securitization. Each of (Aa) the transactions contemplated by effected or to be effected from time to time pursuant to the Master Indenture Documents, and (Bb) any other transaction pursuant to which (i) the Borrower and/or its Subsidiaries or any Restricted Subsidiary either (x) sells, conveys or otherwise transfers, or grants a security interest in, containers Containers or chassis, leases and other related assets or (y) sells, conveys, issues or otherwise transfers or grants a security interest in a SUBI, in either case, to a Special Purpose Vehicle or any other Person (other than the Borrower or any of its Subsidiaries), (ii) such Special Purpose Vehicle or such other Person issues Indebtedness (or interests therein) that is secured by such containers Containers or chassis, leases and other related assets (or by a SUBI), (iii) none of neither the Borrower or nor any of its Restricted Subsidiaries (other than such other Persona Special Purpose Vehicle) has any obligation to maintain such entity's Person’s financial condition or cause such entity Person to achieve certain levels of operating results (other than those related to or incidental to the relevant Permitted Securitization) and (iv) none of the holders of the related Indebtedness shall have recourse to the Borrower or any of its Restricted Subsidiaries (other than such other Persona Special Purpose Vehicle) for credit losses on leases or the inability of the containers Containers or chassis, in each case subject to the Permitted Securitization, to generate sufficient cash flow to repay the such Indebtedness issued by such entityPerson. Permitted Transaction. Any of the following transactions: