Permitted Securitizations Sample Clauses

Permitted Securitizations. The Borrower will not, and will not permit any of its Subsidiaries to, enter into or consummate any financing program providing for the sale or transfer of Securitization Assets by the Borrower or any Subsidiary unless such financing program constitutes a “Permitted Securitization” as defined in Section 1.01.

Permitted Securitizations. (i) The Administrative Agent may, in its sole and absolute discretion, waive the notice required to be delivered pursuant to (A) Section 2.07(c)(i) with respect to any Optional Sale or (B) Sections 2.07(d)(i)(A) with respect to any Loan Asset Dividend to be made in connection with a Permitted Securitization. (ii) The delivery of a Notice of Permitted Securitization in the form set forth in Exhibit A on or prior to the second Business Day prior to the closing of the applicable Permitted Securitization shall be deemed to satisfy the requirement to deliver, if and to the extent applicable: (A) a Notice of Reduction pursuant to Section 2.18(b); (B) a Loan Asset Dividend Certificate pursuant to Sections 2.07(d)(i) and 2.07(g)(xi); (C) the notice, if any, required to be delivered pursuant to Section 2.07(g)(iv); and (D) the certifications and notices otherwise required to be delivered pursuant to (but not the other conditions set forth in) Section 2.07(g), in each case with respect to any repayment of Advances, Loan Asset Dividend or Optional Sale to be made in connection with, and substantially contemporaneously with the closing of, such Permitted Securitization.

Permitted Securitizations. The parties agree that any sale of Container Equipment from a Loan Party or any Restricted Subsidiary of such Loan Party to any Unrestricted Subsidiary of such Borrower at the original equipment cost or Net Book Value thereof shall be deemed to be an arm’s- length transaction. 10.23 [Reserved]. Negative Pledges, Restrictive Agreements, Etc. No Loan Party will, nor permit any of its Restricted Subsidiaries to, (x) enter into or suffer to exist any agreement creating or purporting to create any Lien, pledge or security interest (other than a Permitted Lien) with respect to the property of the Loan Parties and their Restricted Subsidiaries or (y) enter into or suffer to exist any agreement (excluding this Agreement and any other Loan Document) prohibiting or purporting to prohibit the creation or assumption of any Lien upon such Loan Party’s properties, revenues or assets, whether now owned or hereafter acquired, or the ability of the Loan Parties to amend or otherwise modify this Agreement or any other Loan Document; provided that the Loan Parties and their Restricted Subsidiaries may enter into such agreements described in the foregoing clause (x) or clause (y) that provide for the counterparties to such agreements to be secured on a ratable basis with the Administrative Agent, the Lenders and the Issuers. No Loan Party will, nor permit any of its Restricted Subsidiaries to, enter into any agreement containing any provision which would be violated or breached by such Loan Party’s performance of its obligations hereunder or under any other Loan Document. Use of Proceeds. Each Borrower will use the proceeds of the Loans solely for the purposes set forth in Section 9.

Permitted Securitizations. Lender acknowledges and agrees that a substantial portion of Borrower's assets consists of lease and/or financing agreements, lease and/or financing receivables, interests in equipment leased and/or financed to various customers and residual interests in such leased equipment. Lender further acknowledges and agrees that Borrower contemplates, after the date hereof and prior to the repayment in full of the Loan, securitizations and or similar financing arrangements with respect to the aforementioned assets. Accordingly, notwithstanding anything contained in this Agreement to the contrary, Lender agrees that: (a) the transfer or other disposition, on one or more occasions, of all or substantially all of, or of any portion of, the assets of Borrower to one or more Special Purpose Subsidiaries shall be a permitted transfer or disposition of Borrower's assets; (b) in connection with the foregoing transfer or disposition of assets to any such Special Purpose Subsidiary, Borrower shall be permitted to make loans, advances or capital contributions to, invest in or otherwise acquire all or any portion of the equity interests of such Special Purpose Subsidiary, and the Lender shall have no interest in, or Lien on, the assets of any such Special Purpose Subsidiary; and (c) the occurrence of either of the foregoing shall not require the consent or approval of Lender and shall not be an Event of Default hereunder. Upon request of Borrower, Lender agrees to execute and deliver to Borrower any and all lien waivers or other releases required by Borrower to consummate the transfer of such assets to such Special Purpose Subsidiary free and clear of any Liens or security interests granted to Lender hereunder. Borrower agrees to provide Lender with thirty (30) days' written notice prior to any transfer of any assets of Borrower to any Special Purpose Subsidiary. Borrower further agrees that all sales made by its Special Purposes Subsidiaries shall be exclusively for cash and that all such funds (other than monies applied to pay the Servicing Fee) will (i) be applied to repay that amount of the Loan related to each of such sold assets; and (ii) that any excess funds after such repayment will remain in the direct or indirect (i.e., through possession by the wholly-owned SPE) possession of Borrower.

Permitted Securitizations. The Borrower will not, and will not permit any of its Subsidiaries to, enter into or consummate any financing program providing for the sale or transfer of Securitization Assets by the Borrower or any Subsidiary unless such financing program constitutes a "Permitted Securitization" as defined in Section 1.01; provided, that the aggregate Net Disposition Proceeds received by the Borrower and its Subsidiaries from any and all Permitted Securitizations entered into or consummated prior to the repayment in full of the Bridge Subordinated Debt shall not exceed $45,000,000.

Permitted Securitizations. The Administrative Agent may, in its sole and absolute discretion, waive the notice required to be delivered pursuant to (A) Section 2.07(c)(i) with respect to any Optional Sale or (B) Sections 2.07(d)(i)(A) with respect to any Loan Asset Dividend to be made in connection with a Permitted Securitization.

Permitted Securitizations. The Borrower shall not, nor shall it permit any of its Subsidiaries to, enter into any Securitization Documents other than in connection with a Permitted Securitization (unless such Securitization Documents have been approved by the Required Banks or are non-material documentation entered into pursuant to such approved Securitization Documents) or amend or modify in any material respect which is adverse to the Banks any of such Securitization Documents unless such amendment or modification has been approved by the Required Banks; provided, however, that if the Securitization Documents, after giving effect to such amendment or modification, would constitute a Permitted Securitization, then such approval of the Required Banks shall not be required.