Common use of Lease Amendments and Modifications Clause in Contracts

Lease Amendments and Modifications. In performing its obligations hereunder, the Servicer may, acting in the name of the Issuer and without the necessity of obtaining the prior consent of the Issuer, the Insurer or the Trustee, enter into and grant modifications, waivers and amendments to the terms of any Lease except for modifications, waivers or amendments that (a) are inconsistent with the servicing standards set forth in Section 4.01 above, (b) would reduce the amount or extend the time for payment of any Lease Payment, Casualty Payment or Termination Payment to be made under a Lease (other than to permit termination of a Lease which does not otherwise provide for termination by requiring the payment, in lieu of all future Lease Payments with respect to the Lease or Equipment subject thereto, an amount which equals or exceeds the Lease Purchase Amount for such Lease as of such date) or the Lessee's absolute and unconditional obligation to make payment of the same, (c) would reduce or adversely affect the Lessee's obligation to maintain, service, insure and care for the Equipment or would permit the alteration of any item of Equipment in any way which could adversely affect its present or future value or (d) otherwise could adversely affect the interests of any of the Seller, the Issuer, the Trustee, the Insurer or the holders of the Notes. In addition, following the transfer of any Lease to the Issuer in accordance herewith, the Servicer may make adjustments to such Lease which modify one or more terms of such Lease, such as payment amount or payment date. Such administrative adjustments may result in a re-booking of such Lease and the assignment of a new Lease number, but will not be considered to be a substitution or prepayment of such Lease. Except to the extent the Originator substitutes a Substitute Lease therefor in accordance with Section 11 hereof, the Servicer may permit such adjustments so long as the following conditions precedent have been satisfied:

Lease Amendments and Modifications. In performing its obligations hereunder, the Servicer may, acting in the name of the Issuer Company and without the necessity of obtaining the prior consent of the Issuer, the Insurer Company or the Trustee, enter into and grant modifications, waivers and amendments to the terms of any Lease except for modifications, waivers or amendments that (a) are inconsistent with the servicing standards set forth in Section 4.01 3.01 above, (b) would reduce the amount or extend the time for payment of any Lease Payment, Casualty Payment or Termination Payment to be made under a Lease (other than to permit termination of a Lease which does not otherwise provide for termination by requiring the payment, in lieu of all future Lease Payments with respect to the Lease or Equipment subject thereto, an amount which equals or exceeds the Lease Purchase Repurchase Amount for such Lease as of such date) or the Lessee's absolute and unconditional obligation to make payment of the same, (c) would reduce or adversely affect the Lessee's obligation to maintain, service, insure and care for the Equipment or would permit the alteration of any item of Equipment in any way which could adversely affect its present or future value or (d) otherwise could adversely affect the interests of any of the SellerCompany, the Issuer, the Trustee, the Insurer Trustee or the holders of the Notes. In addition, following the transfer of any Lease to the Issuer Company in accordance herewith, the Servicer may make adjustments to such Lease which modify one or more terms of such Lease, such as payment amount or payment date. Such administrative adjustments may result in a re-booking of such Lease and the assignment of a new Lease number, but will not be considered to be a substitution or prepayment of such Lease. Except to the extent the Originator Seller substitutes a Substitute Lease therefor in accordance with Section 11 9 hereof, the Servicer may permit such adjustments so long as the following conditions precedent have been satisfied:

Lease Amendments and Modifications. In performing its obligations hereunder, the Servicer may, acting in the name of the Issuer and without the necessity of obtaining the prior consent of the Issuer, the Insurer Issuer or the Trustee, enter into and grant modifications, waivers and amendments to the terms of any Lease except for modifications, waivers or amendments that (a) are inconsistent with the servicing standards set forth in Section 4.01 3.01 above, (b) would reduce the amount or extend the time for payment of any Lease Payment, Casualty Payment, Termination Payment or Termination Payment Residual Realizations to be made under a Lease (other than to permit termination of a Lease which does not otherwise provide for termination by requiring the payment, in lieu of all future Lease Payments with respect to the Lease or Equipment subject thereto, an amount which equals or exceeds the Lease Purchase Amount for such Lease as of such date) or the Lessee's absolute and unconditional obligation to make payment of the same, (c) would reduce or adversely affect the Lessee's obligation to maintain, service, insure and care for the Equipment or would permit the alteration of any item of Equipment in any way which could adversely affect its present or future value or (d) otherwise could adversely affect the interests of any of the Seller, the Issuer, the Trustee, the Insurer Trustee or the holders of the Notes. In addition, following the transfer of any Lease to the Issuer in accordance herewith, the Servicer may make adjustments to such Lease which modify one or more terms of such Lease, such as payment amount or payment date. Such administrative adjustments may result in a re-booking of such Lease and the assignment of a new Lease number, but will not be considered to be a substitution or prepayment of such Lease. Except to the extent the Originator Transferor substitutes a Substitute Lease therefor in accordance with Section 11 9 hereof, the Servicer may permit such adjustments so long as the following conditions precedent have been satisfied:

Lease Amendments and Modifications. (a) In performing its obligations hereunder, the Servicer may, acting in the name of the Issuer Purchaser and without the necessity of obtaining the prior consent of any of the IssuerPurchaser, the Insurer Agent or the Trusteeany Lender, enter into and grant modifications, waivers and amendments to the terms of any Lease Lease, except for modifications, waivers or amendments that (ai) are inconsistent with the servicing standards Servicing Standard set forth in Section 4.01 3.01 above, or (bii) would reduce the amount or extend the time for payment of any Lease Paymentlease payment, Casualty Payment casualty payment, termination payment or Termination Payment other amount required to be made paid by a Lessee under a Finance Lease or the Lessee's absolute and unconditional obligation under such Finance Lease to make payment of the same, or (other than iii) would reduce or adversely affect the Lessee's obligation under such Finance Lease to maintain, service and insure for the Containers under such Finance Lease. Notwithstanding the foregoing provisions of clause (ii) above, the Servicer may permit termination of a Finance Lease which does not otherwise provide for termination by requiring that the Lessee pay, or if the terms of the termination do not provide for such payment, that the Servicer pay, in lieu of all future Lease Contract Payments with respect to the Lease or Equipment subject theretosuch Finance Lease, an amount which equals or exceeds equal to the Lease Purchase Amount for such Lease as of such date) or related Prepayment Amount. In the Lessee's absolute and unconditional obligation to make payment of the same, (c) would reduce or adversely affect the Lessee's obligation to maintain, service, insure and care for the Equipment or would permit the alteration event of any item of Equipment in any way which could adversely affect its present modification, waiver or future value or (d) otherwise could adversely affect the interests amendment of any of the Seller, the Issuer, the Trustee, the Insurer or the holders of the Notes. In addition, following the transfer of any Finance Lease to the Issuer in accordance herewith, the Servicer may make adjustments to such Lease which modify one or more terms of such Lease, such as payment amount or payment date. Such administrative adjustments may result in a re-booking of such Lease and the assignment of a new Lease number, but will not be considered to be a substitution or prepayment of such Lease. Except to the extent the Originator substitutes a Substitute Lease therefor in accordance with this Section 11 hereof3.02, the Servicer, on a monthly basis, in conjunction with the delivery of the Servicer may permit Report, will furnish the Purchaser, the Agent, and each Lender with a copy of such adjustments so long as modification, waiver or amendment, together with a certificate of a Servicing Officer stating that such modification, waiver or amendment is permitted by the following conditions precedent have been satisfied:provisions of this Section 3.02.

Lease Amendments and Modifications. In performing its obligations hereunder, the Servicer may, acting in the name of the Issuer Trust and without the necessity of obtaining the prior consent of the Issuer, the Insurer Trust or the Trustee, enter into and grant modifications, waivers and amendments to the terms of any Lease except for modifications, waivers or amendments that (a) are inconsistent with the servicing standards set forth in Section 4.01 above, (b) would reduce the amount or extend the time for payment of any Lease Payment, Casualty Payment, Termination Payment or Termination Payment Residual Realizations to be made under a Lease (other than to permit termination of a Lease which does not otherwise provide for termination by requiring the payment, in lieu of all future Lease Payments with respect to the Lease or Equipment subject thereto, an amount which equals or exceeds the Lease Purchase Repurchase Amount for such Lease as of such date) or the Lessee's absolute and unconditional obligation to make payment of the same, (c) would reduce or adversely affect the Lessee's obligation to maintain, service, insure and care for the Equipment or would permit the alteration of any item of Equipment in any way which could adversely affect its present or future value or (d) otherwise could adversely affect the interests of any of the SellerTrust, the Issuer, the Trustee, the Insurer Trustee or the holders of the Notes. In addition, following the transfer of any Lease to the Issuer Trust in accordance herewith, the Servicer may make adjustments to such Lease which modify one or more terms of such Lease, such as payment amount or payment date. Such administrative adjustments may result in a re-booking of such Lease and the assignment of a new Lease number, but will not be considered to be a substitution or prepayment of such Lease. Except to the extent the Originator substitutes a Substitute Lease therefor in accordance with Section 11 hereof, the Servicer may permit such adjustments so long as the following conditions precedent have been satisfied:

Lease Amendments and Modifications. In performing its obligations hereunder, the Servicer may, acting in the name of the Issuer and without the necessity of obtaining the prior consent of the Issuer, the Insurer Indenture Trustee, Trustee or the Trusteeany Noteholder or Certificateholder, enter into and grant modifications, waivers and amendments to the terms of any Lease except for modifications, waivers or amendments that (a) are inconsistent with the servicing standards set forth in Section 4.01 aboveServicing Standard, (b) would reduce the amount or extend the time for payment of any Lease Payment, Casualty Payment or Termination Payment to be made under a Lease (other than to permit termination of a Lease which does not otherwise provide for termination by requiring the payment, in lieu of all future Lease Payments with respect to the Lease or Equipment subject thereto, an amount which equals or exceeds the Lease Purchase Repurchase Amount for such Lease as of such date) or the Lessee's absolute and unconditional obligation to make payment of the same, (c) would reduce or adversely affect the Lessee's obligation to maintain, service, insure and care for the Equipment or would permit the alteration of any item of Equipment in any way which could adversely affect its present or future value or (d) otherwise otherwise, individually or in connection with all other adjustments and modifications made pursuant to this sentence, could adversely affect the interests of any of the Issuer, Seller, Indenture Trustee, Trustee, Noteholders or Certificateholders. Notwithstanding the foregoing, Servicer may, without obtaining the prior written consent of Issuer, the Indenture Trustee, Trustee or any Noteholder or Certificateholder, enter into and grant modifications, waivers or amendments in addition to those referred to in the Insurer or the holders of the Notes. In addition, following the transfer of any Lease to the Issuer in accordance herewith, the Servicer may make adjustments to preceding sentence if such Lease which modify one or more terms of such Lease, such as payment amount or payment date. Such administrative adjustments may result in a re-booking of such Lease and the assignment of a new Lease number, but will not be considered to be a substitution or prepayment of such Lease. Except to the extent the Originator substitutes a Substitute Lease therefor is repurchased in accordance with Section 11 hereof, the Servicer may permit such adjustments so long as the following conditions precedent have been satisfied:5.2.

Lease Amendments and Modifications. In performing its obligations hereunder, the Servicer may, acting in the name of the Issuer and without the necessity of obtaining the prior consent of the Issuer, the Insurer Issuer or the Trustee, enter into and grant modifications, waivers and amendments to the terms of any Lease except for modifications, waivers or amendments that (a) are inconsistent with the servicing standards set forth in Section 4.01 above, (b) would reduce the amount or extend the time for payment of any Lease Payment, Casualty Payment or Payment, Termination Payment to be made under a Lease (other than to permit termination of a Lease which does not otherwise provide for termination by requiring the payment, in lieu of all future Lease Payments with respect to the Lease or Equipment subject thereto, an amount which equals or exceeds the Lease Purchase Amount for such Lease as of such date) or the Lessee's absolute and unconditional obligation to make payment of the same, (c) would reduce or adversely affect the Lessee's obligation to maintain, service, insure and care for the Equipment or would permit the alteration of any item of Equipment in any way which could adversely affect its present or future value or (d) otherwise could adversely affect the interests of any of the Seller, the Issuer, the Trustee, the Insurer Trustee or the holders of the Notes. In addition, following the transfer of any Lease to the Issuer in accordance herewith, the Servicer may make adjustments to such Lease which modify one or more terms of such Lease, such as payment amount or payment date. Such administrative adjustments may result in a re-booking of such Lease and the assignment of a new Lease number, but will not be considered to be a substitution or prepayment of such Lease. Except to the extent the Originator substitutes a Substitute Lease therefor in accordance with Section 11 hereof, the Servicer may permit such adjustments so long as the following conditions precedent have been satisfied:

Lease Amendments and Modifications. In performing its obligations hereunder, the Servicer may, acting in the name of the Issuer and without the necessity of obtaining the prior consent of the Issuer, [the Insurer Insurer] or the Trustee, enter into and grant modifications, waivers and amendments to the terms of any Lease except for modifications, waivers or amendments that (a) are inconsistent with the servicing standards set forth in Section 4.01 above, (b) would reduce the amount or extend the time for payment of any Lease Payment, Casualty Payment or Termination Payment to be made under a Lease (other than to permit termination of a Lease which does not otherwise provide for termination by requiring the payment, in lieu of all future Lease Payments with respect to the Lease or Equipment subject thereto, an amount which equals or exceeds the Lease Purchase Amount for such Lease as of such date) or the Lessee's absolute and unconditional obligation to make payment of the same, (c) would reduce or adversely affect the Lessee's obligation to maintain, service, insure and care for the Equipment or would permit the alteration of any item of Equipment in any way which could adversely affect its present or future value or (d) otherwise could adversely affect the interests of any of the Seller, the Issuer, the Trustee, the Insurer or the holders of the Notes. In addition, following the transfer of any Lease to the Issuer in accordance herewith, the Servicer may make adjustments to such Lease which modify one or more terms of such Lease, such as payment amount or payment date. Such administrative adjustments may result in a re-booking of such Lease and the assignment of a new Lease number, but will not be considered to be a substitution or prepayment of such Lease. Except to the extent the Originator substitutes a Substitute Lease therefor in accordance with Section 11 hereof, the Servicer may permit such adjustments so long as the following conditions precedent have been satisfied:

Lease Amendments and Modifications. In performing its obligations hereunder, the Servicer may, acting in the name of the Issuer and without the necessity of obtaining the prior consent of the Issuer, the Insurer or the Trustee, enter into and grant modifications, waivers and amendments to the terms of any Lease except for modifications, waivers or amendments that (a) are inconsistent with the servicing standards set forth in Section 4.01 above, (b) would reduce the amount or extend the time for payment of any Lease Payment, Casualty Payment or Termination Payment to be made under a Lease (other than to permit termination of a Lease which does not otherwise provide for termination by requiring the payment, in lieu of all future Lease Payments with respect to the Lease or Equipment subject thereto, an amount which equals or exceeds the Lease Purchase Amount for such Lease as of such date) or the Lessee's absolute and unconditional obligation to make payment of the same, (c) would reduce or adversely affect the Lessee's obligation to maintain, service, insure and care for the Equipment or would permit the alteration of any item of Equipment in any way which could adversely affect its present or future value or value, (d) otherwise could adversely affect the interests of any of the Seller, the Issuer, the Trustee, the Insurer or the holders of the NotesNotes or (e) would cause such Lease not to satisfy the representations and warranties contained in Section 2.04. In addition, following the transfer of any Lease to the Issuer in accordance herewith, the Servicer may make adjustments to such Lease which modify one or more terms of such Lease, such as payment amount or payment date. Such administrative adjustments may result in a re-booking of such Lease and the assignment of a new Lease number, but will not be considered to be a substitution or prepayment of such Lease. Except to the extent the Originator substitutes a Substitute Lease therefor in accordance with Section 11 hereof11, the Servicer may permit such adjustments so long as the following conditions precedent have been satisfied:

Lease Amendments and Modifications. In performing its obligations hereunder, the Servicer may, acting in the name of the Issuer and without the necessity of obtaining the prior consent of the Issuer, the Insurer Issuer or the Trustee, enter into and grant modifications, waivers and amendments to the terms of any Lease except for modifications, waivers or amendments that (a) are inconsistent with the servicing standards set forth in Section 4.01 3.01 above, (b) would reduce the amount or extend the time for payment of any Lease Payment, Casualty Payment or Termination Payment to be made under a Lease (other than as permitted in the following paragraph or to permit termination of a Lease which does not otherwise provide for termination by requiring the payment, in lieu of all future Lease Payments with respect to the Lease or Equipment subject thereto, an amount which equals or exceeds the Lease Purchase Repurchase Amount for such Lease as of such date) or the Lessee's absolute and unconditional obligation to make payment of the same, (c) would reduce or adversely affect the Lessee's obligation to maintain, service, insure and care for the Equipment or would permit the alteration of any item of Equipment in any way which could adversely affect its present or future value or (d) otherwise could would materially adversely affect the interests of any of the Seller, the Issuer, the Trustee, the Insurer Trustee or the holders Holders of the Notes. In additionNotwithstanding the foregoing paragraph, following the transfer of any Lease to the Issuer in accordance herewithwith the Transferor Contribution and Sale Agreement, the Servicer may make adjustments to such Lease which modify one or more terms of such Lease, such as payment amount or payment date. Such administrative adjustments may result in a re-booking of such Lease and the assignment of a new Lease number, but will not be considered to be a substitution or prepayment of such Lease. Except to the extent the Originator substitutes a Substitute Lease therefor in accordance with Section 11 hereof, the The Servicer may permit such adjustments so long as the following conditions precedent have been satisfied:

Lease Amendments and Modifications. In performing its obligations hereunder, the Servicer may, acting in the name of the Issuer and without the necessity of obtaining the prior consent of the Issuer, the Insurer Issuer or the Trustee, enter into and grant modifications, waivers and amendments to the terms of any Lease except for modifications, waivers or amendments that (a) are inconsistent with the servicing standards set forth in Section 4.01 3.01 above, (b) would reduce the amount or extend the time for payment of any Lease Payment, Casualty Payment or Termination Payment to be made under a Lease (other than to permit termination of a Lease which does not otherwise provide for termination by requiring the payment, in lieu of all future Lease Payments with respect to the Lease or Equipment subject thereto, an amount which equals or exceeds the Lease Purchase Repurchase Amount for such Lease as of such date) or the Lessee's absolute and unconditional obligation to make payment of the same, (c) would reduce or adversely affect the Lessee's obligation to maintain, service, insure and care for the Equipment or would permit the alteration of any item of Equipment in any way which could adversely affect its present or future value or (d) otherwise could adversely affect the interests of any of the Seller, the Issuer, the Trustee, the Insurer Trustee or the holders Holders of the Notes. In addition, following the transfer of any Lease to the Issuer in accordance herewithwith the Transferor Contribution and Sale Agreement, the Servicer may make adjustments to such Lease which modify one or more terms of such Lease, such as payment amount or payment date. Such administrative adjustments may result in a re-booking of such Lease and the assignment of a new Lease number, but will not be considered to be a substitution or prepayment of such Lease. Except to the extent the Originator substitutes a Substitute Lease therefor in accordance with Section 11 hereof, the The Servicer may permit such adjustments so long as the following conditions precedent have been satisfied: