Accumulated Depreciation. With respect to Eligible Containers as of the date of determination an amount equal to the aggregate amount of depreciation expense recorded with respect to such Eligible Container since the date of original acquisition by the applicable Borrower, according to CAI’s depreciation policy as determined in accordance with GAAP.
Appears in 3 contracts
Samples: Revolving Credit Agreement (CAI International, Inc.), Assignment and Assumption (CAI International, Inc.), Revolving Credit Agreement (CAI International, Inc.)
Accumulated Depreciation. With respect to Eligible Containers as of the date of determination an amount equal to the aggregate amount of depreciation expense recorded with respect to such Eligible Container since the date of original acquisition by the applicable Borrower, according to CAI’s depreciation policy as determined in accordance with GAAPpolicy.
Appears in 1 contract
