Common use of Special Purpose Subsidiary Clause in Contracts

Special Purpose Subsidiary. A Subsidiary of the Parent or any of its Subsidiaries, including the Borrower, that is a special purpose corporation organized in connection with a securitization and/or sale and financing of Leases and related Equipment and Receivables of the Borrower or either Guarantor, none of the assets of which constitutes any part of the Collateral after giving effect to the release of the Lenders’ Encumbrances on Collateral contemplated by Section 9 of the Borrower Security Agreement.

Special Purpose Subsidiary. A Subsidiary of the Parent or any of its Subsidiaries, including the Borrower, Subsidiaries that is a special purpose corporation organized in connection with a securitization and/or sale and financing of Leases and related Equipment and Receivables of the Borrower or either Guarantor, none of the assets of which constitutes any part of the Collateral after giving effect to the release of the Lenders’ Encumbrances on Collateral contemplated by Section 9 of the Borrower Security Agreement.

Special Purpose Subsidiary. A Subsidiary of the Parent or any of its Subsidiaries, including Subsidiaries (other than the Borrower, ) that is a special purpose corporation organized in connection with a securitization and/or sale and financing of Leases and related Equipment and Receivables of the Borrower or either Guarantor, none of the assets of which constitutes any part of the Collateral after giving effect to the release of the Lenders’ Encumbrances on Collateral contemplated by Section 9 of the Borrower Security Agreement.