Common use of Lease Transactions Clause in Contracts

Lease Transactions. Neither the Borrower nor any Permitted Project Company shall enter into any transaction for the lease of any assets, whether operating leases, capital leases or otherwise, other than the transactions contemplated by the PILOT Agreements and Permitted Rail Car Leases, pursuant to any lease constituting Permitted Debt or pursuant to leases of automobiles, office equipment or the like pursuant to which the aggregate annual lease payments by the Borrower do not exceed $100,000 per calendar year (in year 2007 Dollars adjusted for inflation in accordance with GDP-IPD Index).