Common use of Permitted Securitization Clause in Contracts

Permitted Securitization. Any secured lending facility entered into by a Securitization Entity after the Closing Date solely for the purpose of purchasing or financing assets of a Loan Party or any of its respective Subsidiaries, provided that (i) any Indebtedness incurred in connection with such facility is non-recourse to any Loan Party or any of its respective Subsidiaries and their respective assets, (ii) such Securitization Entity engages in no business and incurs no Indebtedness or other liabilities or obligations other than those related to or incidental to such facility, (iii) other than the initial Investment in such Securitization Entity, no Loan Party or any of its respective Subsidiaries is required to make additional Investments in such Securitization Entity, (iv) no Loan Party or any of its respective Subsidiaries have any material contract, agreement, arrangement or understanding with such Securitization Entity other than on terms no less favorable (in the aggregate) to such Person (as determined in good faith by the Guarantor's Chief Financial Officer) than those that might be obtained at that time from Persons that are not Affiliates of the Borrower, and (v) no Loan Party or any of its respective Subsidiaries has any obligation to maintain such Securitization Entity’s financial condition or cause such Securitization Entity to achieve certain levels of operating results other than any obligation of such Person as an equipment manager of Containers with respect to such Securitization Entity. Person. Any individual, corporation, limited liability company, limited liability partnership, trust, other unincorporated association, business, or other legal entity, and any Governmental Authority. Platform. See §8.4. Prepayment Event. See §3.2.2. Prime Rate. The rate which SunTrust Bank announces from time to time as its prime lending rate, as in effect from time to time.

Permitted Securitization. Any secured lending facility entered into by a Securitization Entity after the Closing Restatement Date solely for the purpose of purchasing or financing assets of a Loan Party CAI or any of its respective SubsidiariesSubsidiaries (including the Borrower), provided that (i) any Indebtedness incurred in connection with such facility is non-recourse to any Loan Party or any CAI and all of its respective Subsidiaries (other than the Securitization Entity) and their respective assets, (ii) such Securitization Entity engages in no business and incurs no Indebtedness or other liabilities or obligations other than those related to or incidental to such facility, (iii) other than the initial Investment in such Securitization Entity, no Loan Party or any of CAI and its respective Subsidiaries is (including the Borrower) are not required to make additional Investments in such Securitization Entity, (iv) no Loan Party or any of CAI and its respective Subsidiaries do not have any material contract, agreement, arrangement or understanding with such Securitization Entity other than on terms no less favorable (in the aggregate) to such Person (as determined in good faith by the Guarantor's such Person’s Chief Financial Officer) than those that might be obtained at that time from Persons that are not Affiliates of the BorrowerCAI, and (v) CAI and its Subsidiaries (including the Borrower) have no Loan Party or any of its respective Subsidiaries has any obligation to maintain such Securitization Entity’s financial condition or cause such Securitization Entity to achieve certain levels of operating results other than any obligation of such Person as an equipment manager of Containers with respect to such Securitization Entity. Person. Any individual, corporation, limited liability company, limited liability partnership, trust, other unincorporated association, business, or other legal entity, and any Governmental Authority. Platform. See §8.4. Prepayment Event. See §3.2.2. Prime Rate. The rate which SunTrust Bank announces from time to time as its prime lending rate, as in effect from time to time.

Permitted Securitization. Any secured lending facility entered into by a Securitization Entity after the Closing Restatement Date solely for the purpose of purchasing or financing assets of a Loan Party or any of its respective Subsidiaries, provided that (i) any Indebtedness incurred in connection with such facility is non-recourse to any Loan Party or any of its respective Subsidiaries and their respective assets, (ii) such Securitization Entity engages in no business and incurs no Indebtedness or other liabilities or obligations other than those related to or incidental to such facility, (iii) other than the initial Investment in such Securitization Entity, no Loan Party or any of its respective Subsidiaries is required to make additional Investments in such Securitization Entity, (iv) no Loan Party or any of its respective Subsidiaries have any material contract, agreement, arrangement or understanding with such Securitization Entity other than on terms no less favorable (in the aggregate) to such Person (as determined in good faith by the Guarantor's Chief Financial Officer) than those that might be obtained at that time from Persons that are not Affiliates of the Borrower, and (v) no Loan Party or any of its respective Subsidiaries has any obligation to maintain such Securitization Entity’s financial condition or cause such Securitization Entity to achieve certain levels of operating results other than any obligation of such Person as an equipment manager of Containers with respect to such Securitization Entity. Person. Any individual, corporation, limited liability company, limited liability partnership, trust, other unincorporated association, business, or other legal entity, and any Governmental Authority. Platform. See §8.4. Prepayment Event. See §3.2.2. Prime Rate. The rate which SunTrust Bank announces from time to time as its prime lending rate, as in effect from time to time.