Designated Severability Clause definition
Designated Severability Clause means, with respect to a Mixed Rider, language to the effect that the Mixed Rider shall constitute one or more separate and severable leases, with each such lease being comprised of railcars owned by a single person or entity, and each such lease shall incorporate the terms of the related master lease agreement and shall be separate and severable from each other lease made pursuant to such rider and from any other railcars or riders relating to such master lease agreement.
Designated Severability Clause means, with respect to a Mixed Rider, language to the effect that the Mixed Rider shall constitute one or more separate and severable leases, with each such lease being comprised of railcars owned by a single person or entity, and each such lease shall incorporate the terms of the related master lease agreement and shall be separate and severable from each other lease made pursuant to such rider and from any other railcars or riders relating to such master lease agreement. “Designated Type” means when used with respect to Railcars, Railcars which are classified as covered ▇▇▇▇▇▇ grain cars or as coal cars (each of which shall be a separate “type” of Railcar). “Discretionary Account” means the Discretionary Account established by the Depositary pursuant to the Depository Agreement. “Disqualified Stock” of any Person means any Equity Interest of such Person which by its terms (or by the terms of any security for which it is convertible or for which it is exchangeable or exercisable), or upon the happening of any event or otherwise (including an event which would constitute a Change of Control), (A) matures or is mandatorily redeemable or subject to any mandatory repurchase requirement, pursuant to a sinking fund or otherwise, (B) is convertible into or exchangeable for Debt or Disqualified Stock or (C) is redeemable or subject to any repurchase requirement arising at the option of the holder thereof, in whole or in part, on or prior to the first anniversary of the Termination Date. “Dollars” and the sign “$” means lawful money of the United States. “Early Amortization Event” means, as of any Settlement Date beginning with the fourth Settlement Date following the Amendment Closing Date, the Debt Service Coverage Ratio is less than 1.10 to 1.00. “Early Opt-in Election” means the occurrence of: (i) (a) a determination by the Agent or (ii) a notification by the Required Lenders to the Agent (with a copy to the Borrower) that the Required Lenders have determined, in each case, that U.S. dollar-denominated syndicated credit facilities being executed at such time, or that include language similar to that contained in Section 2.15, are being executed or amended, as applicable, to incorporate or adopt a new benchmark interest rate to replace LIBOR, and (ii) (a) the election by the Agent or (b) the election by the Required Lenders, in each case, to declare that an Early Opt-in Election has occurred and the provision, as applicable, by the Agent
Designated Severability Clause means, with respect to a Mixed Rider, language to the effect that the Mixed Rider shall constitute one or more separate and severable leases, with each such lease being comprised of railcars owned by a single person or entity, and each such lease shall incorporate the terms of the related master lease agreement and shall be separate and severable from each other lease made pursuant to such rider and from any other railcars or riders relating to such master lease agreement. “Designated Type” means when used with respect to Railcars, Railcars which are classified as covered ▇▇▇▇▇▇ grain cars or as coal cars (each of which shall be a separate “type” of Railcar). “Discretionary Account” means the Discretionary Account established by the Depositary pursuant to the Depository Agreement. “Disqualified Stock” of any Person means any Equity Interest of such Person which by its terms (or by the terms of any security for which it is convertible or for which it is exchangeable or exercisable), or upon the happening of any event or otherwise (including an event which would constitute a Borrower Change of Control or a TILC Change of Control), (A) matures or is mandatorily redeemable or subject to any mandatory repurchase requirement, pursuant to a sinking fund or otherwise, (B) is convertible into or exchangeable for Debt or Disqualified Stock 747656567 17557858 21 Fifth Amended and Restated Warehouse Loan Agreement
More Definitions of Designated Severability Clause
Designated Severability Clause severable from each other lease made pursuant to such rider and from any other railcars or riders relating to such master lease agreement.