Asset Base

Asset Base. As of any date of determination, an amount equal to the sum, without duplication: (1) the product of (x) sixty-seven percent (67%) and (y) the sum of the Net Book Values (determined as of the Effective Date or the last day of immediately preceding Collection Period, as applicable) of all Eligible Containers that are not subject to a Finance ... Lease then owned by the Issuer that were purchased by the Issuer in the ordinary course of its business at any time prior to January 1, 2000, (2) the product of (x) eighty percent (80%) and (y) the sum of the Net Book Values (determined as of the Effective Date or the last day of the immediately preceding Collection Period, as applicable) of all Eligible Containers that are not subject to a Finance Lease then owned by the Issuer that were purchased by the Issuer in the ordinary course of its business at any time on and after January 1, 2000, (3) the product of (x) eighty percent (80%) and (y) the Aggregate Book Value of Net Finance Lease Receivables, plus, 100% of the amounts then on deposit in immediately available funds in the Trust Account, plus, any amount then on deposit in immediately available funds in the Restricted Cash Account - E2 - EXHIBIT 10.7 in excess of the Restricted Cash Account Requirement (such amounts to be determined after giving effect to all withdrawals from and deposits to the Trust Account and the Restricted Cash Account on such date). In determining the amount set forth in clause (y) of numbered subparagraphs (1) and (2) above, the Net Book Value of any Container that has been sold by the Issuer or that has suffered a Casualty Event shall be equal to zero. View More

Asset Base. Clauses (1) and (2) of the definition of "Asset Base" are each hereby amended be deleting the words "seventy-five percent (75%)" therein and replacing them with the words "eighty percent (80%)".