Common use of Transfer of Leases; Grant of Security Interest Clause in Contracts

Transfer of Leases; Grant of Security Interest. It is the intention of the parties hereto that the transfer of Leases, Additional Leases, Substitute Leases, Lease Payments and all other amounts due or becoming due with respect thereto and Equipment (or interests therein) being made hereunder shall constitute a purchase and sale or capital contribution and not a loan. The Seller shall take no action inconsistent with the Company's ownership of the Leases, the Lease Receivables and all other amounts due or becoming due with respect thereto and the interests in the Equipment, the Seller shall indicate in its records that ownership of each of the Leases, the Lease Receivables and the interests in the Equipment is held by the Company, and the Seller shall respond to any inquiries from third parties by indicating that its ownership in the Leases, Additional Leases, Substitute Leases, the Lease Receivables and all other amounts due or becoming due with respect thereto and the interests in the Equipment is held by the Company and pledged to the Trustee. In the event, however, that a court of competent jurisdiction were to hold that any transaction evidenced hereby constitutes a loan and not a purchase and sale or capital contribution, it is the intention of the parties hereto that this Agreement shall constitute a security agreement under applicable law and that the Seller shall be deemed to have granted to the Company and the Trustee a first priority security interest in all of the Seller's right, title and interest in, to and under the Leases, Additional Leases, Substitute Leases, the Lease Payments and the Equipment, and all proceeds of any such Leases and Equipment.

Transfer of Leases; Grant of Security Interest. It is the intention of the parties hereto that the each transfer of Leases, Additional Leases, Substitute Leases, Lease Payments and all other amounts due or becoming due with respect thereto and Equipment (or interests therein) being made hereunder shall constitute a purchase and sale or capital contribution and not a loan. The Neither the Originator nor the Seller shall take no any action inconsistent with the Companytreatment of such transfers as capital contributions or with the Issuer's ownership of the Leases, the Lease Receivables Leases and all other amounts due or becoming due with respect thereto and the interests in the Equipment, . Each of the Originator and the Seller shall indicate in its records that ownership of each of the Leases, the Lease Receivables Leases and the interests in the Equipment (other than the Seller's ownership interest) is held by the CompanyIssuer, and the Seller each shall respond to any inquiries from third parties by indicating that its ownership in the Leases, Additional Leases, Substitute Leases, the Lease Receivables Leases and all other amounts due or becoming due with respect thereto and the interests in the Equipment (other than the Seller's ownership interest) is held by the Company and pledged to the TrusteeIssuer. In the event, however, that a court of competent jurisdiction were to hold that any transaction evidenced hereby constitutes a loan and not a purchase and sale or capital contribution, it is the intention of the parties hereto that this Agreement shall constitute a security agreement under applicable law and that the Seller Issuer and the Trustee shall be deemed to have been granted to the Company and the Trustee a first priority security interest in all of the Seller's right, title and interest in, to and under (a) the Leases, Additional LeasesEquipment and all Lease Payments, Substitute LeasesCasualty Payments, Termination Payments and other amounts now due or becoming due with respect thereto since the Cut-Off Date (other than any prepayments of rent required pursuant to the terms of any Lease at or before the commencement of the Lease and any payments due before the Cut-Off Date) and all Additional Leases and Substitute Leases and all Lease Payments, Casualty Payments, Termination Payments and other amounts due or becoming due with respect thereto since the Equipmenteffective date of their respective addition or substitution (other than any prepayments of rent required by the terms of any Lease at or before the commencement of the Lease and any payments due before the effective date of such addition or substitution), (b) all rights of the Issuer to or under any guarantees of or collateral (including all rights of the Issuer in any security deposits) for the Lessee's obligations under any Lease, (c) all interests of the Issuer in the Equipment at any time subject to any Lease including any security interest of the Seller in the Equipment and (d) all proceeds of the conversion, whether voluntary or involuntary, of any such Leases and Equipmentof the foregoing into cash or other property.

Transfer of Leases; Grant of Security Interest. It is the intention of the parties hereto that the each transfer of Leases, Additional Leases, Substitute Leases, Lease Payments and all other amounts due or becoming due with respect thereto and Equipment (or interests therein) being made hereunder shall constitute a purchase and sale or capital contribution and not a loan. The Seller Transferor shall not take no any action inconsistent with the Companytreatment of such transfers as capital contributions or with the Issuer's ownership of the Leases, the Lease Receivables and all other amounts due or becoming due with respect thereto and the interests in the Equipment, the Seller . The Transferor shall indicate in its records that ownership of each of the Leases, the Lease Receivables and the interests in the Equipment is held by the CompanyIssuer, and the Seller each shall respond to any inquiries from third parties by indicating that its ownership in the Leases, Additional Leases, Substitute Leases, the Lease Receivables and all other amounts due or becoming due with respect thereto and the interests in the Equipment is held by the Company Issuer and pledged to the Trustee. In the event, however, that a court of competent jurisdiction were to hold that any transaction evidenced hereby constitutes a loan and not a purchase and sale or capital contribution, it is the intention of the parties hereto that this Agreement shall constitute a security agreement under applicable law and that the Seller Issuer and the Trustee shall be deemed to have been granted to the Company and the Trustee a first priority security interest in all of (a) the Seller's right, title and interest in, to and under the Leases, Additional Leases, Substitute Leases, the Lease Payments and the Equipment, Leases and all proceeds of any such Leases Lease Payments, Casualty Payments, Termination Payments, Residual Realizations and Equipment.other amounts

Transfer of Leases; Grant of Security Interest. It is the intention of the parties hereto that the each transfer of Leasesleases, Additional Leases, Substitute Leases, Lease Payments and all other amounts due or becoming due with respect thereto and Equipment (or interests therein) being made hereunder shall constitute a purchase and sale or capital contribution and not a loan. The Neither the Originator nor the Seller shall take no any action inconsistent with the CompanyTrust's ownership of the Leases, the Lease Receivables and all other amounts due or becoming due with respect thereto and the interests in the Equipment, each of the Originator and the Seller shall indicate in its records that ownership of each of the Leases, the Lease Receivables and the interests in the Equipment is held by the CompanyTrust, and the Seller each shall respond to any inquiries from third parties by indicating that its ownership in the Leases, Additional Leases, Substitute Leases, the Lease Receivables and all other amounts due or becoming due with respect thereto and the interests in the Equipment is held by the Company Trust and pledged to the Trustee. In the event, however, that a court of competent jurisdiction were to hold that any transaction evidenced hereby constitutes a loan and not a purchase and sale or capital contribution, it is the intention of the parties hereto that this Agreement shall constitute a security agreement under applicable law and that the Seller Trust and the Trustee shall be deemed to have been granted to the Company and the Trustee a first priority security interest in (a) the Leases and all Lease Payments, Casualty Payments, Termination Payments, Residual Realizations and other amounts now due or becoming due with respect thereto since the Cut-Off Date (other than any prepayments of rent required pursuant to the terms of any Lease at or before the commencement of the Seller's rightLease and any payments due before the Cut-Off Date) and all Additional Leases and Substitute Leases and all Lease Payments, title Casualty Payments, Termination Payments, Residual Realizations and interest in, to and under other amounts due or becoming due with respect thereto since the Leases, Additional Leases, Substitute Leases, effective date of their respective addition or substitution (other than any prepayments of rent required by the terms of any Lease at or before the commencement of the Lease Payments and any payments due before the Equipmenteffective date of such addition or substitution), (b) all rights of the Trust to or under any guarantees of or collateral (including all rights of the Trust in any security deposits) for the Lessee's obligations under any Lease, (c) all interests of the Trust in the Equipment at any time subject to any Lease including any security interest of the Seller in the Equipment and (d) all proceeds of the conversion, whether voluntary or involuntary, of any such Leases and Equipmentof the foregoing into cash or other property.

Transfer of Leases; Grant of Security Interest. It is the intention of the parties hereto that the transfer of Leases, Additional Leases, Substitute Leases, Lease Payments and all other amounts due or becoming due with respect thereto and Equipment (or interests therein) being made hereunder shall constitute a purchase and sale or capital contribution and not a loan. The Seller shall take no action inconsistent with the Company's ownership of the Leases, the Lease Receivables and all other amounts due or becoming due with respect thereto and the interests in the Equipment, the Seller shall indicate in its records that ownership of each of the Leases, the Lease Receivables and the interests in the Equipment is held by the Company, and the Seller shall respond to any inquiries from third parties by indicating that its ownership in the Leases, Additional Leases, Substitute Leases, the Lease Receivables and all other amounts due or becoming due with respect thereto and the interests in the Equipment is held by the Company and pledged to the Trustee. In the event, however, that a court of competent jurisdiction were to hold that any transaction evidenced hereby constitutes a loan and not a purchase and sale or capital contribution, it is the intention of the parties hereto that this Agreement shall constitute a security agreement under applicable law and that the Seller shall be deemed to have granted to the Company and the Trustee a first priority security interest in the Leases and all Lease Payments, Casualty Payments, Termination Payments and other amounts now due or becoming due with respect thereto since the Cut-Off Date (other than any prepayments of rent required pursuant to the terms of any Lease at or before the commencement of the Seller's rightLease and any payments due before the Cut-Off Date) and all Additional Leases and Substitute Leases and all Lease Payments, title Casualty Payments, Termination Payments and interest in, to and under other amounts due or becoming due with respect thereto since the Leases, Additional Leases, Substitute Leases, effective date of their respective addition or substitution (other than any prepayments of rent required by the terms of any Lease at or before the commencement of the Lease Payments and any payments due before the Equipmenteffective date of such addition or substitution), (b) all rights of the Company to or under any guarantees of or collateral (including all rights of the Company in any security deposits) for the Lessee's obligations under any Lease, (c) all interests of the Company in the Equipment at any time subject to any Lease including any security interest of the Seller in the Equipment and (d) all proceeds of the conversion, whether voluntary or involuntary, of any such Leases and Equipmentof the foregoing into cash or other property.

Transfer of Leases; Grant of Security Interest. It is the intention of the parties hereto that the transfer of Leases, Additional Leases, Substitute Leases, Lease Payments and all other amounts due or becoming due with respect thereto and Equipment (or interests therein) being made hereunder shall constitute a purchase and sale or capital contribution and not a loan. The Seller shall take no action inconsistent with the Company's ownership of the Leases, the Lease Receivables and all other amounts due or becoming due with respect thereto and the interests in the Equipment, the Seller shall indicate in its records that ownership of each of the Leases, the Lease Receivables and the interests in the Equipment is held by the Company, and the Seller shall respond to any inquiries from third parties by indicating that its ownership in the Leases, Additional Leases, Substitute Leases, the Lease Receivables and all other amounts due or becoming due with respect thereto and the interests in the Equipment is held by the Company and pledged to the Trustee. In the event, however, that a court of competent jurisdiction were to hold that any transaction evidenced hereby constitutes a loan and not a purchase and sale or capital contribution, it is the intention of the parties hereto that this Agreement shall constitute a security agreement under applicable law and that the Seller shall be deemed to have granted to the Company and the Trustee a first priority security interest in the Leases and all Lease Payments, Casualty Payments, Termination Payments and other amounts now due or becoming due with respect thereto since the Cut-Off Date (other than any prepayments of rent required pursuant to the terms of any Lease at or before the commencement of the Seller's rightLease and payments due before the Cut-Off Date) and all Additional Leases and Substitute Leases and all Lease Payments, title Casualty Payments, Termination Payments and interest in, to and under other amounts due or becoming due with respect thereto since the Leases, Additional Leases, Substitute Leases, effective date of their respective addition or substitution (other than any prepayments of rent required by the terms of any Lease at or before the commencement of the Lease Payments and any payments due before the Equipmenteffective date of such addition or substitution), (b) all rights of the Debtor to or under any guarantees of or collateral (including all rights of the Debtor in any security deposits) for the Lessee's obligations under any Lease, (c) all interests of the Debtor in the Equipment at any time subject to any Lease and (d) all proceeds of the conversion, whether voluntary or involuntary, of any such Leases and Equipmentof the foregoing into cash or other property.