Permitted Securitization. Any secured lending facility entered into by a Securitization Entity solely for the purpose of purchasing, financing or refinancing of assets of CAI and any of its Subsidiaries, provided that (i) any Indebtedness incurred in connection with such facility is non-recourse to CAI or any of its respective Subsidiaries (other than such 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, none of CAI or any of its respective Subsidiaries is required to make additional Investments in such Securitization Entity, (iv) none of CAI or any of its respective Subsidiaries has any material contract, agreement, arrangement or understanding with such Securitization Entity other than on terms comparable or more favorable (in the aggregate) to CAI and its respective Subsidiaries than those that might be obtained at the time such contract, agreement, arrangement or understanding is entered into from Persons that are not Affiliates of the Borrowers, and (v) none of CAI 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 CAI or any of its respective Subsidiaries has as an equipment manager of Containers with respect to such Securitization Entity.
Permitted Securitization. Each of (A) the transactions contemplated by the Master Indenture Documents, and (B) any other transaction pursuant to which (i) one or more of the Borrowers and/or their respective Subsidiaries either (x) sells, conveys or otherwise transfers, or grants a security interest in, containers or chassis, leases and other related assets or (y) sells, conveys, issues or otherwise transfers or grants a security interest in a SUBI, in either case, to a Special Purpose Vehicle or any other Person (other than the Borrowers or any of their respective Subsidiaries), (ii) such Special Purpose Vehicle or such other Person issues Indebtedness (or interests therein) that is secured by such containers or chassis, leases and other related assets (or by a SUBI), (iii) none of the Borrowers or any of their respective Restricted Subsidiaries (other than a Special Purpose Vehicle) has any obligation to maintain such entity's financial condition or cause such entity to achieve certain levels of operating results (other than those related to or incidental to the relevant Permitted Securitization) and (iv) none of the holders of the Indebtedness shall have recourse to the Borrowers or any of their Restricted Subsidiaries (other than a Special Purpose Vehicle) for credit losses on leases or the inability of the containers or chassis, in each case subject to the Permitted Securitization, to generate sufficient cash flow to repay the Indebtedness issued by such entity. Permitted Transaction. Any of the following transactions:
Permitted Securitization. Each of the following:
Permitted Securitization. Cause the trustee, administrative agent and/or collateral agent, as applicable, in respect of the ADT Indentures, ADT Credit Agreement, ADT Intercreditor Agreement and the ADT Collateral Agreements to promptly take any actions from time to time, as may be reasonably requested by the Collateral Agent, to facilitate or cause the transfer of any Pool Receivables and the Related Assets or proceeds thereof to the extent then in the possession or control of such trustee, administrative agent and/or collateral agent, as applicable, to or at the direction of ADT or the Collateral Agent.
Permitted Securitization. The Borrower shall not, nor shall it permit any of its Subsidiaries to, enter into any Securitization Documents other than in connection with a Permitted Securitization (unless such Securitization Documents have been approved by the Required Banks or are non-material documentation entered into pursuant to such approved Securitization Documents) or amend or modify in any material respect which is adverse to the Banks any of such Securitization Documents unless such amendment or modification has been approved by the Required Banks; provided, however, that if the Securitization Documents, after giving effect to such amendment or modification, would constitute a Permitted Securitization, then such approval of the Required Banks shall not be required.
Permitted Securitization. The Permitted Securitization shall have been consummated on terms and conditions satisfactory to the Agent. The Intercreditor Agreement shall have been executed and delivered by the parties thereto and shall be in form and substance satisfactory to the Agent.
Permitted Securitization. The facility established by this Agreement and the other Transaction Documents constitutes a “Permitted Securitization” as defined in the Credit Agreement.
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. This term shall have the meaning set forth in the Management Agreement.
Permitted Securitization. Permit the Borrowing Base (as defined in the Permitted Securitization Credit and Security Agreement) to be less than $50,000,000 or the Aggregate Commitment (as defined in the Permitted Securitization Credit and Security Agreement) to be less than $100,000,000.
