Common use of Permitted Securitization Clause in Contracts

Permitted Securitization. Each of (A) the transactions contemplated by the Master Indenture Documents, and (B) any other transaction pursuant to which (i) one or more of the Borrowers and/or their respective Subsidiaries either (x) sells, conveys or otherwise transfers, or grants a security interest in, containers or chassis, leases and other related assets or (y) sells, conveys, issues or otherwise transfers or grants a security interest in a SUBI, in either case, to a Special Purpose Vehicle or any other Person (other than the Borrowers or any of their respective Subsidiaries), (ii) such Special Purpose Vehicle or such other Person issues Indebtedness (or interests therein) that is secured by such containers or chassis, leases and other related assets (or by a SUBI), (iii) none of the Borrowers or any of their respective Restricted Subsidiaries (other than a Special Purpose Vehicle) has any obligation to maintain such entity's financial condition or cause such entity to achieve certain levels of operating results (other than those related to or incidental to the relevant Permitted Securitization) and (iv) none of the holders of the Indebtedness shall have recourse to the Borrowers or any of their Restricted Subsidiaries (other than a Special Purpose Vehicle) for credit losses on leases or the inability of the containers or chassis, in each case subject to the Permitted Securitization, to generate sufficient cash flow to repay the Indebtedness issued by such entity. Permitted Transaction. Any of the following transactions:

Permitted Securitization. Each of (A) the transactions contemplated by the Master Indenture Documents, and (B) any other transaction pursuant to which (i) one or more of the Borrowers Borrower and/or their respective its Subsidiaries either (x) sells, conveys or otherwise transfers, or grants a security interest in, containers or chassis, leases and other related assets or (y) sells, conveys, issues or otherwise transfers or grants a security interest in a SUBI, in either case, to a Special Purpose Vehicle or any other Person (other than the Borrowers Borrower or any of their respective its Subsidiaries), (ii) such Special Purpose Vehicle or such other Person issues Indebtedness (or interests therein) that is secured by such containers or chassis, leases and other related assets (or by a SUBI), (iii) none of the Borrowers Borrower or any of their respective its Restricted Subsidiaries (other than a Special Purpose Vehiclesuch other Person) has any obligation to maintain such entity's financial condition or cause such entity to achieve certain levels of operating results (other than those related to or incidental to the relevant Permitted Securitization) and (iv) none of the holders of the Indebtedness shall have recourse to the Borrowers Borrower or any of their its Restricted Subsidiaries (other than a Special Purpose Vehiclesuch other Person) for credit losses on leases or the inability of the containers or chassis, in each case subject to the Permitted Securitization, to generate sufficient cash flow to repay the Indebtedness issued by such entity. Permitted Transaction. Any of the following transactions:

Permitted Securitization. Each of (Aa) the transactions contemplated by effected or to be effected from time to time pursuant to the Master Indenture Documents, and (Bb) any other transaction pursuant to which (i) one the Borrower or more of the Borrowers and/or their respective Subsidiaries any Restricted Subsidiary either (x) sells, conveys or otherwise transfers, or grants a security interest in, containers Containers or chassis, leases and other related assets or (y) sells, conveys, issues or otherwise transfers or grants a security interest in a SUBI, in either case, to a Special Purpose Vehicle or any other Person (other than the Borrowers Borrower or any of their respective its Subsidiaries), (ii) such Special Purpose Vehicle or such other Person issues Indebtedness (or interests therein) that is secured by such containers Containers or chassis, leases and other related assets (or by a SUBI), (iii) none of neither the Borrowers or Borrower nor any of their respective its Restricted Subsidiaries (other than a Special Purpose Vehicle) has any obligation to maintain such entity's Person’s financial condition or cause such entity Person to achieve certain levels of operating results (other than those related to or incidental to the relevant Permitted Securitization) and (iv) none of the holders of the related Indebtedness shall have recourse to the Borrowers Borrower or any of their its Restricted Subsidiaries (other than a Special Purpose Vehicle) for credit losses on leases or the inability of the containers Containers or chassis, in each case subject to the Permitted Securitization, to generate sufficient cash flow to repay the such Indebtedness issued by such entityPerson. Permitted Transaction. Any of the following transactions:

Permitted Securitization. Each of (A) the transactions contemplated by effected or to be effected from time to time pursuant to the Master Indenture Documents, and (B) any other transaction pursuant to which (i) one or more of the Borrowers Borrower and/or their respective its Respective Subsidiaries either (x) sells, conveys or otherwise transfers, or grants a security interest in, containers or chassis, leases and other related assets or (y) sells, conveys, issues or otherwise transfers or grants a security interest in a SUBI, in either case, to a Special Purpose Vehicle or any other Person (other than the Borrowers Borrower or any of their its respective Subsidiaries), (ii) such Special Purpose Vehicle or such other Person issues Indebtedness (or interests therein) that is secured by such containers or chassis, leases and other related assets (or by a SUBI), (iii) none of neither the Borrowers or Borrower nor any of their respective its Restricted Subsidiaries (other than a Special Purpose Vehicle) has any obligation to maintain such entity's financial condition or cause such entity to achieve certain levels of operating results (other than those related to or incidental to the relevant Permitted Securitization) and (iv) none of the holders of the related Indebtedness shall have recourse to the Borrowers Borrower or any of their its Restricted Subsidiaries (other than a Special Purpose Vehicle) for credit losses on leases or the inability of the containers or chassis, in each case subject to the Permitted Securitization, to generate sufficient cash flow to repay the such Indebtedness issued by such entity. Permitted Transaction. Any of the following transactions:

Permitted Securitization. Each of (Aa) the transactions contemplated by effected or to be effected from time to time pursuant to the Master Indenture Documents, and (Bb) any other transaction pursuant to which (i) one or more of the Borrowers Borrower and/or their respective its Respective Subsidiaries either (x) sells, conveys or otherwise transfers, or grants a security interest in, containers or chassis, leases and other related assets or (y) sells, conveys, issues or otherwise transfers or grants a security interest in a SUBI, in either case, to a Special Purpose Vehicle or any other Person (other than the Borrowers Borrower or any of their its respective Subsidiaries), (ii) such Special Purpose Vehicle or such other Person issues Indebtedness (or interests therein) that is secured by such containers or chassis, leases and other related assets (or by a SUBI), (iii) none of neither the Borrowers or Borrower nor any of their respective its Restricted Subsidiaries (other than a Special Purpose Vehicle) has any obligation to maintain such entity's ’s financial condition or cause such entity to achieve certain levels of operating results (other than those related to or incidental to the relevant Permitted Securitization) and (iv) none of the holders of the related Indebtedness shall have recourse to the Borrowers Borrower or any of their its Restricted Subsidiaries (other than a Special Purpose Vehicle) for credit losses on leases or the inability of the containers or chassis, in each case subject to the Permitted Securitization, to generate sufficient cash flow to repay the such Indebtedness issued by such entity. Permitted Transaction. Any of the following transactions:.

Permitted Securitization. Each of (A) the transactions contemplated by effected or to be effected from time to time pursuant to the Master Indenture Documents, and (B) any other transaction pursuant to which (i) one or more of the Borrowers Borrower and/or their respective its Respective Subsidiaries either (x) sells, conveys or otherwise transfers, or grants a security interest in, containers or chassis, leases and other related assets or (y) sells, conveys, issues or otherwise transfers or grants a security interest in a SUBI, in either case, to a Special Purpose Vehicle or any other Person (other than the Borrowers Borrower or any of their its respective Subsidiaries), (ii) such Special Purpose Vehicle or such other Person issues Indebtedness (or interests therein) that is secured by such containers or chassis, leases and other related assets (or by a SUBI), (iii) none of neither the Borrowers or Borrower nor any of their respective its Restricted Subsidiaries (other than a Special Purpose Vehicle) has any obligation to maintain such entity's ’s financial condition or cause such entity to achieve certain levels of operating results (other than those related to or incidental to the relevant Permitted Securitization) and (iv) none of the holders of the related Indebtedness shall have recourse to the Borrowers Borrower or any of their its Restricted Subsidiaries (other than a Special Purpose Vehicle) for credit losses on leases or the inability of the containers or chassis, in each case subject to the Permitted Securitization, to generate sufficient cash flow to repay the such Indebtedness issued by such entity. Permitted Transaction. Any of the following transactions:.