Common use of Original Cost Clause in Contracts

Original Cost. With respect to any Eligible Container, the basic purchase price therefor expressed in Dollars as invoiced by the supplier of any unit of container equipment (such price being the firm works unit price thereof as set out in the relevant purchase order) plus any related shipping and positioning charges as invoiced, as determined in accordance with GAAP consistently applied. Notwithstanding the foregoing, the calculation of the Original Cost must be satisfactory to the Lenders.

Original Cost. With respect to any Eligible Container, the basic purchase price therefor expressed in Dollars as invoiced by the supplier of any unit of container equipment (such price being the firm works unit price thereof as set out in the relevant purchase order) plus any related shipping and positioning charges as invoiced, as determined in accordance with GAAP consistently applied. Notwithstanding the foregoing, the calculation of the Original Cost must be satisfactory to all of the Lenders.