Common use of Railcars Clause in Contracts

Railcars. As of the Transfer Date of each Transferred Railcar, such Transferred Railcar (A) materially conforms with the specifications contained in each applicable Independent Appraisal, (B) has a fair market value not less than its Purchase Price, (C) is marked with the railroad equipment number (also known as the running number) as noted on Schedule A to the applicable Xxxx of Sale and at no time since its manufacture has such Transferred Railcar been identified by any other railroad equipment number, (D) has not been substantially refurbished or rebuilt, excluding normal repairs in the ordinary course of maintenance, (E) is in good order and repair, ordinary wear and tear excepted, (F) is in compliance with all Applicable Laws (including applicable Interchange Rules of the AAR) governing the use and maintenance thereof, (G) is in material compliance with manufacturer’s warranties (to the extent such warranties are or should be then available other than due to the passage of time) and (H) is an Eligible Railcar.