Eligible Railcar definition

Eligible Railcar means any Railcar that, on its applicable Delivery Date, is ready and available to operate as of such date (or will be upon routine maintenance) in commercial service and otherwise perform the functions for which it was designed.

Eligible Railcar means, as of any date of determination,

Eligible Railcar means a railcar or locomotive owned directly by a Guarantor, subject to no liens other than Permitted Railcar Liens; provided that

Examples of Eligible Railcar in a sentence

• Each Railcar described on its relevant Delivery Schedule constitutes an Eligible Railcar as of the date of its Conveyance to the Issuer.

• Each Railcar shown as an Eligible Railcar on the Monthly Report most recently delivered to the Agent and the Lenders in accordance with Section 6.01(f) was an Eligible Railcar as of the date of such Monthly Report.

• A Responsible Officer of the Borrower shall have certified to the Agent and each Lender that (i) each Railcar which is to become a Portfolio Railcar on such Funding Date is an Eligible Railcar and (ii) each Lease which is to become a Portfolio Lease on such Funding Date is an Eligible Lease.

• Upon approval by the Agent (with the consent of the Required Lenders, if required) of a Railcar and any related Lease to be added to the Portfolio in accordance with Section 2.02(b) (but in any event no more frequently than once in any week), the Borrower may, subject to the terms and conditions of this Agreement, borrow Loans in respect of each such Railcar and related Lease which is an Eligible Railcar and/or Eligible Lease, as applicable.

• With respect to any Eligible Railcar, as the case may be, as of the date of determination, an amount equal to the Original Cost of such Eligible Railcar less the Accumulated Depreciation of such Eligible Railcar as of the last day of the month immediately preceding such date of determination.

More Definitions of Eligible Railcar

Eligible Railcar means each Railcar that meets each of the following requirements:

Eligible Railcar means, on the date such Railcar is added to the Portfolio, a Railcar:

Eligible Railcar means, as of any date of determination, all of the following with respect to any Railcar:

Eligible Railcar means each of the Railcars held by the Borrower, that comply with criteria established in this Agreement and the other Credit Documents, and have been approved by the Lender, in its sole discretion, to be incorporated into the Borrowing Base. Eligible Railcars in no event shall be deemed eligible unless the Railcars are either (a) newly manufactured by the Ultimate Parent and have not been previously used or registered other than to the Borrower at the time of acquisition or (b) remanufactured by the Ultimate Parent and not registered other than to the Borrower at the time of inclusion in the Borrowing Base, and in each case, acquired by the Borrower from the Ultimate Parent at the Transfer Price.

Eligible Railcar means any Railcar that, on its applicable Delivery Date, is ready and available to operate as of such date in commercial service and otherwise perform the functions for which it was designed, and which otherwise is in compliance on such Delivery Date with the representations made by the Transferor in respect of such Railcar under the Contribution and Sale Agreement, provided that no Railcar that is leased or subleased to a Prohibited Person or located or used in a Prohibited Jurisdiction in a manner which would violate the laws of the United States (other than pursuant to a license issued by OFAC) shall be an Eligible Railcar.

Eligible Railcar shall have the meaning set forth in the Indenture.

Eligible Railcar means a railcar or locomotive owned directly by a Guarantor, subject to no liens other than Permitted Railcar Liens; provided