Eligible Direct Finance Lease. A Direct Finance Lease that complies with all of the following: (i) the related lessee is not an Affiliate of the Borrower or a Sanctioned Person or a Sanctioned Entity; (ii) the Direct Finance Lease is not a Defaulted Finance Lease; and (iii) such Direct Finance Lease and the related receivables are subject to no other Liens other than Liens of the type permitted pursuant to §§9.2.l (ii), (iv), (v) (so long as underlying obligations are not overdue), (x) and (xiv).
Appears in 2 contracts
Samples: Revolving Credit Agreement (SeaCube Container Leasing Ltd.), Revolving Credit Agreement (SeaCube Container Leasing Ltd.)
Eligible Direct Finance Lease. A Direct Finance Lease that complies with all of the following: (i) the related lessee is not an Affiliate of the Borrower or a Sanctioned Person or a Sanctioned Entity; (ii) the Direct Finance Lease is not a Defaulted Finance Lease; and (iii) such Direct Finance Lease and the related receivables are subject to no other Liens other than Liens of the type permitted pursuant to §§9.2.l (ii), (iv), (v) (so long as underlying obligations are not overdue), (x) and (xiv).
Appears in 2 contracts
Samples: Revolving Credit Agreement (SeaCube Container Leasing Ltd.), Revolving Credit Agreement (Seacastle Inc.)
