EX-4.24



 EXHIBIT 4.24 
  

 
  

TEXTAINER MARINE CONTAINERS II LIMITED 
 Issuer 
 and 

WELLS FARGO BANK, NATIONAL ASSOCIATION 
 Indenture Trustee 
  

 
 SERIES 2012-1
SUPPLEMENT 
 Dated as of May 1, 2012 
 to 
 INDENTURE 

Dated as of May 1, 2012 
  

 
 SERIES 2012-1
NOTES 
  
  

 







 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	ARTICLE I Definitions; Calculation Guidelines	  	 	1	  
			
	    Section 101.	 	 Definitions
	  	 	1	  
		
	ARTICLE II Creation of the Series 2012-1 Notes	  	 	8	  
			
	    Section 201.	 	 Designation
	  	 	8	  
	    Section 201A	 	 Authentication and Delivery
	  	 	9	  
	    Section 202.	 	 Interest Payments on the Series 2012-1 Notes
	  	 	10	  
	    Section 203.	 	 Principal Payments on the Series 2012-1 Notes; Prepayment of Principal on the Series 2012-1 Notes
	  	 	10	  
	    Section 204.	 	 Amounts and Terms of Series 2012-1 Noteholder Commitments; Payments
	  	 	11	  
	    Section 205.	 	 Taxes
	  	 	13	  
	    Section 206.	 	 Increased Costs
	  	 	14	  
	    Section 207.	 	 Capital Requirements
	  	 	14	  
	    Section 208.	 	 Affected Parties
	  	 	15	  
	    Section 209.	 	 Defaulting Noteholders
	  	 	16	  
		
	ARTICLE III Series 2012-1 Series Account and Allocation and Application of Amounts Therein	  	 	17	  
			
	    Section 301.	 	 Series 2012-1 Series Account
	  	 	17	  
	    Section 302.	 	 Drawing Funds from the Restricted Cash Account
	  	 	18	  
	    Section 303.	 	 Distribution from Series 2012-1 Series Account
	  	 	18	  
		
	ARTICLE IV Additional Covenants and Agreements	  	 	20	  
			
	    Section 401.	 	 Rule 144A
	  	 	20	  
	    Section 402.	 	 Depreciation Policy
	  	 	21	  
	    Section 403.	 	 Perfection Requirements
	  	 	21	  
	    Section 404.	 	 United States Federal Income Tax Election
	  	 	21	  
	    Section 405.	 	 OFAC Matters
	  	 	21	  
	    Section 406.	 	 Consent to Series Issuance
	  	 	21	  
		
	ARTICLE V Conditions of Effectiveness and Future Lending	  	 	21	  
			
	    Section 501.	 	 Effectiveness of Supplement
	  	 	21	  
	    Section 502.	 	 Subsequent Advances on Series 2012-1 Notes
	  	 	22	  
		
	ARTICLE VI Representations and Warranties	  	 	23	  
			
	    Section 601.	 	 Existence
	  	 	23	  
	    Section 602.	 	 Authorization
	  	 	23	  
	    Section 603.	 	 No Conflict, Legal Compliance
	  	 	24	  
	    Section 604.	 	 Validity and Binding Effect
	  	 	24	  
	    Section 605.	 	 Financial Statements
	  	 	24	  
	    Section 606.	 	 Executive Offices
	  	 	24	  
	    Section 607.	 	 No Agreements or Contracts
	  	 	24	  
	    Section 608.	 	 Consents and Approvals
	  	 	24	  


  
 i 









							
	    Section 609.	 	 Margin Regulations
	  	 	25	  
	    Section 610.	 	 Taxes
	  	 	25	  
	    Section 611.	 	 Other Regulations
	  	 	25	  
	    Section 612.	 	 Solvency and Separateness
	  	 	25	  
	    Section 613.	 	 Survival of Representations and Warranties
	  	 	26	  
	    Section 614.	 	 No Default
	  	 	26	  
	    Section 615.	 	 Litigation and Contingent Liabilities
	  	 	26	  
	    Section 616.	 	 Subsidiaries
	  	 	27	  
	    Section 617.	 	 No Partnership
	  	 	27	  
	    Section 618.	 	 Pension and Welfare Plans
	  	 	27	  
	    Section 619.	 	 Ownership of Issuer
	  	 	27	  
	    Section 620.	 	 Use of Proceeds
	  	 	27	  
	    Section 621.	 	 Security Interest Representations
	  	 	27	  
		
	 ARTICLE VII Miscellaneous Provisions
	  	 	30	  
			
	    Section 701.	 	 Ratification of Indenture
	  	 	30	  
	    Section 702.	 	 Counterparts
	  	 	30	  
	    Section 703.	 	 Governing Law
	  	 	30	  
	    Section 704.	 	 Notices
	  	 	30	  
	    Section 705.	 	 Amendments and Modifications
	  	 	31	  
	    Section 706.	 	 Consent to Jurisdiction
	  	 	31	  
	    Section 707.	 	 Waiver of Jury Trial
	  	 	32	  
	    Section 708.	 	 Successors
	  	 	32	  
	    Section 709.	 	 Nonpetition Covenant
	  	 	32	  
		
		 	EXHIBITS	  
		
	EXHIBIT A    Form of Series 2012-1 Note	  			
		
		 	SCHEDULES	  
		
	Schedule 1 - Minimum Targeted Principal Balance Percentage	  			
	Schedule 2 - Scheduled Targeted Principal Balance Percentage	  			


  
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 SERIES 2012-1 SUPPLEMENT, dated as of May 1, 2012 (as amended, modified and
supplemented from time to time in accordance with the terms hereof, this “Supplement”), between TEXTAINER MARINE CONTAINERS II LIMITED, an exempted company organized and existing under the laws of Bermuda (the
“Issuer”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as Indenture Trustee (the “Indenture Trustee”). 
 WHEREAS, pursuant to the Indenture, dated as of May 1, 2012 (as amended and supplemented from time to time in accordance with its terms, the “Indenture”), between the Issuer and the
Indenture Trustee, the Issuer may from time to time direct the Indenture Trustee to authenticate one or more new Series of Notes. The Principal Terms of any new Series are to be set forth in a Supplement to the Indenture; and 

WHEREAS, pursuant to this Supplement, the Issuer and the Indenture Trustee shall create a new Series of Notes (“Series
2012-1”) and specify the Principal Terms thereof; 
 NOW THEREFORE, in consideration of the premises and mutual
covenants herein contained, the parties hereto agree as follows: 
 ARTICLE I 

Definitions; Calculation Guidelines 
 Section 101. Definitions. Whenever used in this Supplement, the following words and phrases shall have the following meanings, and the definitions of such terms are applicable to the singular
as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such terms. 

“Aggregate Series 2012-1 Note Principal Balance” means, as of any date of determination, an amount equal to the sum of
the then Series 2012-1 Note Principal Balances of all Series 2012-1 Notes then Outstanding. 
 “Alternative
Rate” means on any day for any Series 2012-1 Advance allocated to an Interest Accrual Period, an interest rate per annum equal to the Base Rate if, on or before the first day of such Interest Accrual Period, a Series 2012-1 Noteholder (or
an agent thereof) or its Deal Agent shall have notified the Issuer that a Eurodollar Disruption Event has occurred with respect to such Series 2012-1 Noteholder or, if applicable, a member of its Related Group. 

“Applicable Margin” means, with respect to each day during an Interest Accrual Period on which a Series 2012-1 Advance
by a Series 2012-1 Noteholder is outstanding, one of the following amounts for such Series 2012-1 Advance: 
  

	 	(A)	for each date occurring prior to the Conversion Date, two and five-eighths of one percent (2.625%) per annum; and 


 

	 	(B)	for each date on or subsequent to the Conversion Date, three and five-eighths of one percent (3.625%) per annum. 


“Availability” shall have the meaning set forth in the Series 2012-1 Note Purchase Agreement. 







 “Base Rate” means, on any date, a fluctuating rate of interest per annum
equal to the higher of (i) the Federal Funds Effective Rate in effect on such date plus one half of one percent (0.50%), and (ii) the Prime Rate in effect on such date. Any change in the Base Rate due to a change in the Prime Rate or the
Federal Funds Effective Rate shall be effective on the opening of business on the date of such change. 
 “Breakage
Costs” means any amount or amounts as shall compensate a Series 2012-1 Noteholder for any loss, cost or expense incurred by such Series 2012-1 Noteholder or a member of its Related Group in connection with funding obtained by it with
respect to a Series 2012-1 Advance (as reasonably determined by the related Deal Agent in its sole discretion on behalf of such Series 2012-1 Noteholder) as a result of (i) the failure of the Issuer to accept funding of a Series 2012-1 Advance
in accordance with a Funding Notice submitted by Issuer, or (ii) the failure of the Issuer to make a prepayment in accordance with the terms of any of the Indenture, this Supplement or the Series 2012-1 Note Purchase Agreement, or
(iii) the Issuer making a payment of principal on a Series 2012-1 Note on a day other than a Payment Date. Nothing contained herein shall obligate the Issuer to pay Breakage Costs with respect to any prepayment actually made by the Issuer on
the last day of an Interest Accrual Period. 
 “Closing Date” shall mean May 1, 2012. 

“Control Party” means, with respect to Series 2012-1 Notes, the Majority of Holders of the Series 2012-1 Notes.

 “Conversion Date” means the earlier to occur of (i) the date on which a Conversion Event occurs, and
(ii) the date set forth in Section 2.5 of the Series 2012-1 Note Purchase Agreement, as such date in this clause (ii) may be extended from time to time in accordance with the terms, and subject to the conditions, of
Section 2.5 of the Series 2012-1 Note Purchase Agreement. 
 “Conversion Event” means the earlier
to occur of (x) the date on which an Early Amortization Event occurs and (y) any Payment Date on which the then aggregate unpaid principal balance of any other Series of Notes issued by the Issuer exceeds the Minimum Targeted Principal
Balance of such Series (determined after giving effect to any Minimum Principal Payment Amount actually paid on such Payment Date). 
 “Default Interest” means, for any Payment Date, the incremental amount of interest payable on the Notes in accordance with Section 202(b) hereof. 

“Defaulting Noteholder” means any Series 2012-1 Noteholder (or, if applicable, any member of its Related Group) that
(i) fails to fund any portion of any Series 2012-1 Advance required to be funded hereunder within two Business Days after the date on which such funding is required or (ii) has notified the Issuer or any Affiliate thereof, or the Indenture
Trustee or any other Series 2012-1 Noteholder, that it (or, if applicable, any member of its Related Group) does not intend to comply with its funding obligations under the Series 2012-1 Related Documents, or has made a public statement to that
effect with respect to its funding obligations under the Series 2012-1 Related Documents. 
 “Dollars” and the
sign “$” mean lawful money of the United States of America. 

  
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 “Existing Law” means (i) the final rule titled “Risk-Based
Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance: Regulatory Capital; Impact of Modifications to Generally Accepted Accounting Principles; Consolidation of Asset-Backed Commercial Paper Programs; and Other Related Issues,”
adopted by the United States bank regulatory agencies on December 15, 2009 (the “Capital Guidelines”); (ii) the Basel Accords prepared by the Basel Committee on Banking Supervision as set out in the publications entitled
“International Convergence of Capital Measurements and Capital Standards: a Revised Framework,” (“Basel II”) and “International Framework for Liquidity Risk Measurement, Standards and Monitoring” (“Basel
III,” with Basel II, collectively the “Basel Accords”) as updated from time to time; (c) the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd Frank Act”); and (d) any rules,
regulations, guidance, requests, interpretations or directives from any Governmental Authority relating to, or implementing, the Capital Guidelines, the Basel Accords or the Dodd Frank Act (whether or not having the force of law). 

“Eurodollar Disruption Event” means with respect to all Series 2012-1 Advances allocated to any Interest Accrual Period,
any of the following events or conditions: (a) a determination by a Series 2012-1 Noteholder or its Deal Agent that it would be contrary to law or to the directive of any central bank or other Governmental Authority (whether or not having the
force of law) to obtain Dollars in the London interbank market to make, fund or maintain any Loan for such Interest Accrual Period, (b) a determination by a Series 2012-1 Noteholder or its Deal Agent that the LIBOR Rate applicable for such
Interest Accrual Period does not accurately reflect the cost to the Series 2012-1 Noteholder (or, if applicable, any member of its Related Group) of making, funding or maintaining any Loan for such Interest Accrual Period, or (c) the inability
of a Series 2012-1 Noteholder (or, if applicable, any member of its Related Group) to obtain Dollars in the London interbank market to make, fund or maintain any Loan for such Interest Accrual Period. 

“Federal Funds Effective Rate” means for any day, the weighted average of the rates on overnight federal funds
transactions with members of the Federal Reserve System arranged by federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, and determined by the applicable Deal Agent or, if such rate is not
so published on the next succeeding Business Day, the average of the quotations for the day of such transactions received by the applicable Deal Agent from three federal funds brokers of recognized standing selected by it. 

“Federal Reserve Board” means the Board of Governors of the Federal Reserve System or any successor thereto. 

“Fee Letter” means each fee letter, dated on or about the Closing Date, between the Issuer and each Deal Agent.

 “Increased Costs” means any fee, expense, increased cost or reduction in rate of return on capital charged
to or incurred by an Indemnified Party on account of the occurrences set forth in Sections 206 and 207 hereof. 

“Indemnified Party” shall have the meaning set forth in Section 205(a) hereof. 

  
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 “Interest Accrual Period” means the period commencing on, and including, a
Payment Date and ending on but excluding the next succeeding Payment Date (or, with respect to the initial Interest Accrual Period, commencing on and including the Closing Date and ending on but excluding June 15, 2012). When switching from
LIBOR Rate to Alternative Rate funding, the first such Interest Accrual Period shall be at the discretion of the applicable Deal Agent. 
 “LIBOR Rate” means for any Interest Accrual Period and any Series 2012-1 Advance, an interest rate per annum equal to the average per annum rate of interest determined by the Indenture
Trustee (and notified to each of the Issuer, the Manager and the Administrative Agent) on the basis of the offered rates for deposits in Dollars for an amount equal to the requested advance of funds and for a term equal to either (i) with
respect to any Series 2012-1 Advance made on the first day of such Interest Accrual Period, the applicable Interest Accrual Period or (ii) with respect to any Series 2012-1 Advance not made on the first day of such Interest Accrual Period, a
term equal to the period remaining in the applicable Interest Accrual Period (provided, if no offered rate exists for such remaining period, the LIBOR Rate shall be interpolated on a straight-line basis based upon the LIBOR Rate for each of
(i) the closest quoted period greater than such remaining period and (ii) the closest quoted period shorter than such remaining period), and commencing on the first day of such Interest Accrual Period, displayed on the Reuters screen
“LIBOR01”, or any successor service for the purpose of displaying the London Interbank rates of major banks for Dollars (or such other page as may replace the Reuters screen “LIBOR01” on that service or such other service or
services as may be denominated by the British Bankers’ Association for the purpose of displaying London Interbank offered rates for Dollar deposits), as of 11:00 A.M. (London time) on the Business Day which is the LIBOR Determination Date. If
the Reuters Screen LIBO Page is not available, then “LIBOR Rate” shall mean the rate per annum equal to the average rate at which the principal London offices of Wells Fargo Bank, National Association, and Bank of America, N.A. (or
their respective successors) are offered dollar deposits at or about 10:00 a.m., New York City time, two Business Days prior to the first Business Day of such Interest Accrual Period in the London eurodollar interbank market for delivery on the
first day of such Interest Accrual Period for one month and in a principal amount equal to an amount of not less than $1,000,000. 
 “LIBOR Determination Date” shall mean the date that is two (2) Business Days prior to the first day of any Interest Accrual Period. 

“Loan” means an extension of credit made by a Series 2012-1 Advance pursuant to Section 204 hereof.

 “Majority of Holders” means, with respect to the Series 2012-1 Notes as of any date of determination, one or
more Series 2012-1 Noteholders representing more than fifty percent (50%) of the then aggregate Series 2012-1 Note Commitments of all Series 2012-1 Noteholders (or, if the Conversion Date has occurred, the then Aggregate Series 2012-1 Note
Principal Balance); provided however, that the Series 2012-1 Note Commitments (or, if applicable, Series 2012-1 Note Principal Balance) of any Person classified as a Defaulting Noteholder on such date of determination shall be excluded for
purposes of determining the Majority of Holders for Series 2012-1. 
 “Manager Advance” shall have the meaning
set forth in the Management Agreement. 

  
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 “Manager Report” shall have the meaning set forth in the Management
Agreement. 
 “Minimum Principal Payment Amount” means, for the Series 2012-1 Notes on any Payment Date, one of
the following: 
  

	 	(1)	for any Payment Date on or prior to the Conversion Date, zero; 

  

	 	(2)	for any Payment Date following the Conversion Date, the excess, if any, of (x) the Aggregate Series 2012-1 Note Principal Balance, over (y) the Minimum
Targeted Principal Balance for the Series 2012-1 Notes for such Payment Date. 

 “Minimum Targeted
Principal Balance” means for the Series 2012-1 Notes for each Payment Date subsequent to the Conversion Date, an amount equal to the product of (x) the Aggregate Series 2012-1 Note Principal Balance on the Conversion Date and
(y) the percentage set forth opposite such Payment Date (based on the number of months elapsed from the Conversion Date; it being agreed that if the Conversion Date does not occur on a Payment Date, the number of months calculation shall
commence with the Payment Date immediately following the Conversion Date) on Schedule 1 hereto under the column entitled “Minimum Targeted Principal Balance”. 
 “Note” means any Series 2012-1 Note. 
 “Other
Taxes” shall have the meaning set forth in Section 205(b) hereof. 
 “Overdue Rate” means
an interest rate per annum equal to the sum of (i) the interest rate otherwise in effect hereunder plus (ii) two percent (2%). 
 “Payment Date” shall have the meaning set forth in Section 201(b) hereof. 
 “Permitted Interest Withdrawal” shall have the meaning set forth in Section 302(a) hereof. 
 “Permitted Payment Date Withdrawal” means, with respect to Series 2012-1, either or both of the Permitted Interest Withdrawal and/or the Permitted Principal Withdrawal. 

“Permitted Principal Withdrawal” shall have the meaning set forth in Section 302(b) hereof. 

“Prime Rate” means the rate announced by Wells Fargo Bank, National Association (or any successor thereto), from time to
time as its “prime rate” or “base rate” in the United States, such rate to change as and when such designated rate changes. The Prime Rate is not intended to be the lowest rate of interest charged by Wells Fargo
Bank, National Association (or any successor thereto) in connection with extensions of credit to debtors. For sake of clarity, the references to Wells Fargo Bank, National Association in the two preceding sentences are not intended to refer to the
initial Indenture Trustee. 

  
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 “Pro Rata” means in accordance with the Pro Rata Share of each Series
2012-1 Noteholder. 
 “Pro Rata Share” means, with respect to each Series 2012-1 Noteholder as of any date of
determination, a ratio (expressed as a percentage) the numerator of which is equal to the Series 2012-1 Note Commitment (or, if the Conversion Date has occurred, the Series 2012-1 Note Principal Balance) of such Series 2012-1 Noteholder and the
denominator of which is equal to the sum of the Series 2012-1 Note Commitments of all Series 2012-1 Noteholders (or, if the Conversion Date has occurred, the Aggregate Series 2012-1 Note Principal Balance). 

“Purchaser” shall have the meaning set forth in the Series 2012-1 Note Purchase Agreement. 

“Rating Agency Condition” means, in addition to the meaning set forth in the Indenture, the following: So long as the
Series 2012-1 Notes shall remain unrated, the Rating Agency Condition shall mean that the Control Party for the Series 2012-1 Notes shall also have consented to the applicable action or decision. 

“Scheduled Principal Payment Amount” means, for the Series 2012-1 Notes for any Payment Date, one of the following:

  

	 	(1)	for any Payment Date on or prior to the Conversion Date, zero (0); or 

  

	 	(2)	for any Payment Date following the Conversion Date, the excess, if any, of (x) the then Aggregate Series 2012-1 Note Principal Balance (determined after giving
effect to any payment of the Minimum Principal Payment Amount for the Series 2012-1 Notes on such Payment Date), over (y) the Scheduled Targeted Principal Balance for the Series 2012-1 Notes for such Payment Date. 


“Scheduled Targeted Principal Balance” means, for the Series 2012-1 Notes for each Payment Date subsequent to the
Conversion Date, an amount equal to the product of (x) the Aggregate Series 2012-1 Note Principal Balance on the Conversion Date and (y) the percentage set forth opposite such Payment Date (based on the number of months elapsed from the
Conversion Date; it being agreed that if the Conversion Date does not occur on a Payment Date, the number of months calculation shall commence with the Payment Date immediately following the Conversion Date) on Schedule 2 hereto under the
column entitled “Scheduled Targeted Principal Balance”. 
 “Security Entitlement” means, any
“security entitlement” as defined in Section 8-102(a)(17) of the UCC, arising out of or in any way related to the Managed Containers. 
 “Series 2012-1” means the Series of Notes the terms of which are specified in this Supplement. 
 “Series 2012-1 Advance” means any advance of funds made by, or on behalf of, a Series 2012-1 Noteholder pursuant to Section 204(b) hereof. 

  
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 “Series 2012-1 Legal Final Payment Date” means, with
respect to the Series 2012-1 Notes, the Payment Date immediately succeeding the date which is the fifth (5th) annual anniversary of the Conversion Date. 
 “Series 2012-1
Note” means any one of the notes issued pursuant to the terms hereof, substantially in the form of Exhibit A hereto, and shall include any and all replacements or substitutions of such notes. 

“Series 2012-1 Note Commitment” means, for each Series 2012-1 Noteholder (excluding, however, any Series 2012-1
Noteholder which is a CP Purchaser), the commitment of such Series 2012-1 Noteholder to fund Series 2012-1 Advances in an aggregate amount outstanding at any point in time not to exceed the amount set forth opposite such Series 2012-1 Noteholder
name on the signature pages of the Series 2012-1 Note Purchase Agreement, as such amount may be modified in accordance with the terms thereof. After the Conversion Date, the Series 2012-1 Note Commitment for each Series 2012-1 Noteholder shall be
equal to the then Series 2012-1 Note Principal Balance of the Series 2012-1 Note owned by such Series 2012-1 Noteholder. 

“Series 2012-1 Note Interest Payment” means for each Payment Date, an amount equal to the sum, for each Series 2012-1
Advance outstanding for each day during the related Interest Accrual Period, of the product of (i) if the Alternative Rate shall then be in effect, (A) the principal amount of such Series 2012-1 Advance, (B) an interest rate equal to
the sum of (x) the Base Rate in effect and (y) the Applicable Margin, and (C) 1/365 or 1/366, as applicable, or (ii) if clause (i) above shall not apply, (A) the principal amount of such Series 2012-1 Advance,
(B) an interest rate equal to the sum of (x) the LIBOR Rate for such Interest Accrual Period and (y) the Applicable Margin, and (C) 1/360. 
 “Series 2012-1 Note Principal Balance” means, with respect to any Series 2012-1 Note as of any date of determination, an amount equal to the excess of (x) all Series 2012-1 Advances
made by or on behalf of the related Series 2012-1 Noteholder on or subsequent to the Closing Date, over (y) the cumulative amount of all Minimum Principal Payment Amounts, Scheduled Principal Payment Amounts, Supplemental Principal Payment
Amounts and any other Prepayments actually paid to the related Series 2012-1 Noteholder subsequent to the Closing Date. 

“Series 2012-1 Note Purchase Agreement” means the Series 2012-1 Note Purchase Agreement, dated as of May 1, 2012,
among the Issuer, the Purchasers, and the Deal Agents named therein pursuant to which document the Purchasers agreed to purchase the Series 2012-1 Notes and make Series 2012-1 Advances, as amended, supplemented or otherwise modified from time to
time in accordance with its terms. 
 “Series 2012-1 Noteholder” means, at any time of determination for the
Series 2012-1 Notes, any Person in whose name a Series 2012-1 Note is registered in the Note Register, and shall be deemed to include each Purchaser and each related CP Purchaser. 

“Series 2012-1 Related Documents” means any and all of the Indenture, this Supplement, the Series 2012-1 Notes, the
Management Agreement, the Container Sale Agreement, the Container Transfer Agreement, the Series 2012-1 Note Purchase Agreement, the 

  
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Administration Agreement, the Manager Transfer Facilitator Agreement, each Interest Rate Hedge Agreement (upon execution thereof), each Fee Letter and any and all other agreements, documents and
instruments executed and delivered by or on behalf or in support of the Issuer with respect to the issuance and sale of the Series 2012-1 Notes, as any of the foregoing may from time to time be amended, modified, supplemented or renewed.
“Series 2012-1 Scheduled Maturity Date” means with respect to the Series 2012-1 Notes, the Payment Date immediately succeeding the date which is the fifth (5th) annual anniversary of the Conversion Date. 

“Series 2012-1 Series Account” means the account established by the Issuer with the Indenture Trustee into which funds
are deposited from the Trust Account pursuant to Section 303 of the Indenture. 
 “Step Up Warehouse
Fee” means, for the Series 2012-1 Notes, for each Payment Date, an amount equal to zero. 
 “Supplemental
Principal Payment Amount” means the amount of any Prepayment made in accordance with the provisions of Section 702(a) of the Indenture that is allocated to the Series 2012-1 Notes in accordance with each provision of the
Indenture. 
 “Taxes” shall have the meaning set forth in Section 205(a) hereof. 

“Unused Commitment” means, with respect to each Series 2012-1 Noteholder as of any date of determination, the excess of
(i) the Series 2012-1 Note Commitment then in effect for such Series 2012-1 Noteholder, over (ii) the Series 2012-1 Note Principal Balance of the Series 2012-1 Note owned by such Series 2012-1 Noteholder as of such date of determination,
measured after giving effect to all Series 2012-1 Advances made and all principal payments to be received by such Series 2012-1 Noteholder on such date of determination. 
 “Unused Fee” shall have the meaning set forth in Section 204(c) hereof. 
 “Unused Fee Percentage” means three-quarters of one percent (0.75%) per annum. 
 “Warehouse Note Increased Interest” means the incremental interest payable by the Issuer on the Series 2012-1 Notes upon the occurrence of a Conversion Event. 

(b) Capitalized terms used herein and not otherwise defined shall have the meaning set forth in the Indenture or, if not defined therein,
as defined in the Series 2012-1 Note Purchase Agreement. 
 ARTICLE II 

Creation of the Series 2012-1 Notes 
 Section 201. Designation. 
 (a) There is hereby created a Series of
Notes to be issued in one Class pursuant to the Indenture and this Supplement to be known respectively as “Textainer Marine Containers II Limited Floating Rate Asset-Backed Notes, Series 2012-1”. The Series 2012-1 Notes will be issued in
the initial maximum principal balance of One Billion Two Hundred Million Dollars ($1,200,000,000) and will not have priority over any other Series, except to the extent set forth in the Supplement for such other Series. 

  
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 (b) The Payment Date with respect to the Series 2012-1 Notes shall be
the fifteenth (15th) calendar day of each month (or,
if such day is not a Business Day, the immediately following Business Day), commencing June 15, 2012. 
 (c) Payments of
principal on the Series 2012-1 Notes shall be payable from funds on deposit in the Series 2012-1 Series Account or otherwise at the times and in the amounts set forth in Article III of the Indenture and Article III hereof. 

(d) Each Series 2012-1 Note is classified as a “Senior Note” and “Warehouse Note”, as such term is used in the
Indenture. 
 (e) The Series 2012-1 Notes are issued on the Closing Date without the benefit of an Enhancement Agreement.

 (f) The Series 2012-1 Notes will not be rated on the Closing Date by any Rating Agency. 

(g) The Series 2012-1 Legal Final Maturity Date shall also constitute the Expected Final Payment Date for the purposes of this Supplement
and the Series 2012-1 Notes. 
 (h) In the event that any term or provision contained herein shall conflict with or be
inconsistent with any term or provision contained in the Indenture, the terms and provisions hereof shall govern. 

Section 201A Authentication and Delivery. 
 (a) On the Closing Date, the Issuer shall sign, and shall direct the Indenture Trustee in writing pursuant to Section 204 of the Indenture to duly authenticate, and the Indenture Trustee, upon
receiving such direction, shall (i) authenticate (by manual, electronic (PDF) or facsimile signature, including by separate counterparts) the Series 2012-1 Notes, subject to compliance with the conditions precedent set forth in
Section 501 hereof and the Series 2012-1 Note Purchase Agreement, in accordance with such written directions and (ii) subject to compliance with the conditions precedent set forth in Section 501 hereof and the Series
2012-1 Note Purchase Agreement, deliver such Series 2012-1 Notes to the Series 2012-1 Noteholders in accordance with such written directions. 
 (b) In accordance with Section 202 of the Indenture, the Series 2012-1 Notes shall be represented by one or more Definitive Notes. 

(c) The Series 2012-1 Notes shall be executed by manual, electronic (PDF) or facsimile signature on behalf of the Issuer by any officer
of the Issuer and shall be substantially in the form of Exhibit A hereto. 
 (d) The Series 2012-1 Notes shall be issued in
minimum denominations of $250,000 and in integral multiples of $100,000 in excess thereof. 

  
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 Section 202. Interest Payments on the Series 2012-1 Notes. 

(a) Interest on Series 2012-1 Notes. Interest will be payable on the Series 2012-1 Notes on each Payment Date in an amount equal
to the Series 2012-1 Note Interest Payment. Such interest shall be payable on each Payment Date from amounts on deposit in the Series 2012-1 Series Account in accordance with Section 302 of the Indenture and Section 303
hereof. 
 (b) Interest on Overdue Amounts. If the Issuer shall default in the payment of (i) the Series 2012-1 Note
Principal Balance of any Series 2012-1 Note on the Series 2012-1 Legal Final Payment Date, or (ii) the Series 2012-1 Note Interest Payment on any Series 2012-1 Note on any Payment Date, or (iii) any other amount becoming due under this
Supplement, the Issuer shall, from time to time, pay interest on such unpaid amounts, to the extent permitted by Applicable Law, at a rate per annum equal to the Overdue Rate, for the period during which such principal, interest or other amount
shall be unpaid from the due date of such payment to the date of actual payment thereof (after as well as before judgment). Default Interest shall be payable at the times and subject to the priorities set forth in Section 303 hereof.

 (c) Maximum Interest Rate. In no event shall the interest charged with respect to a Series 2012-1 Note exceed the
maximum amount permitted by Applicable Law. If at any time the interest rate charged with respect to the Series 2012-1 Notes exceeds the maximum rate permitted by Applicable Law, the rate of interest to accrue pursuant to this Supplement and such
Series 2012-1 Note shall be limited to the maximum rate permitted by Applicable Law, but any subsequent reductions in the LIBOR Rate or Alternative Rate, as the case may be, shall not reduce the interest to accrue on such Series 2012-1 Note below
the maximum amount permitted by Applicable Law until the total amount of interest accrued on such Series 2012-1 Note equals the amount of interest that would have accrued if a varying rate per annum equal to the interest rate had at all times been
in effect. If the total amount of interest paid or accrued on the Series 2012-1 Note under the foregoing provisions is less than the total amount of interest that would have accrued if the interest rate had at all times been in effect, the Issuer
agrees to pay to the Series 2012-1 Noteholders an amount equal to the difference between (a) the lesser of (i) the amount of interest that would have accrued if the maximum rate permitted by Applicable Law had at all times been in effect,
or (ii) the amount of interest that would have accrued if the interest rate had at all times been in effect, and (b) the amount of interest actually paid in accordance with the other provisions hereof. 

Section 203. Principal Payments on the Series 2012-1 Notes; Prepayment of Principal on the Series 2012-1 Notes. 

(a) The principal balance of the Series 2012-1 Notes shall be payable on each Payment Date from amounts on deposit in the Series 2012-1
Series Account in an amount equal to (i) so long as no Early Amortization Event is continuing, the sum of the Minimum Principal Payment Amount, the Scheduled Principal Payment Amount and Supplemental Principal Payment Amount for such Payment
Date, or (ii) if an Early Amortization Event is then continuing, the then Aggregate Series 2012-1 Note Principal Balance shall be payable in full to the extent that funds are available for such purposes in accordance with the provisions of
clause (4) of Part (II) of Section 303 hereof. The unpaid principal amount of each Series 2012-1 Note, together with all unpaid interest (including all Default Interest), fees, expenses, costs and other


  
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amounts payable by the Issuer to the Series 2012-1 Noteholders and the Indenture Trustee pursuant to the terms of the Indenture and this Supplement, shall be due and payable in full on the
earlier to occur of (x) the date on which an Event of Default shall occur and the Series 2012-1 Notes have been accelerated in accordance with the provisions of Section 802 of the Indenture and (y) the Series 2012-1 Legal Final
Payment Date. 
 (b) The Issuer will have the option to prepay, without premium, all, or a portion of, the Aggregate Series
2012-1 Note Principal Balance, in a minimum amount of Two Hundred Fifty Thousand Dollars ($250,000). Any such Prepayment of the Aggregate Series 2012-1 Note Principal Balance shall also include accrued interest to the date of Prepayment on the
principal balance being prepaid, and, if such prepayment is made on a Business Day other than a Payment Date, any Breakage Costs attributable to such Prepayment. The Issuer may not make such Prepayment from funds in the Trust Account, the Series
2012-1 Series Account or the Restricted Cash Account, except to the extent that funds in any such account would otherwise be payable to the Issuer in accordance with the terms hereof and the Indenture. In the event of any Prepayment of the Series
2012-1 Notes in accordance with this Section 203(b) or any other provision of the Indenture, the Issuer shall pay any termination, notional reduction, breakage or other fees or costs assessed by any Interest Rate Hedge Provider. The
Issuer must provide advance notice of at least two Business Days to the Series 2012-1 Noteholders and each Interest Rate Hedge Provider of any such optional Prepayment, which notice shall be irrevocable when delivered. 

(c) Any Prepayment of less than the entire Aggregate Series 2012-1 Note Principal Balance, made in accordance with the provisions of
Section 203 hereof and occurring after the Conversion Date, shall be applied to reduce the Minimum Principal Payment Amounts and Scheduled Principal Payment Amounts of the Series 2012-1 Notes in respect of each subsequent Payment Date in
equal amounts such that, after giving effect to such adjustment, the Minimum Principal Payment Amounts and Scheduled Principal Payment Amounts for each subsequent Payment Date shall be reduced by an amount equal to the quotient of (x) the
aggregate amount of such Prepayment actually received by the Series 2012-1 Noteholders, divided by (y) the number of remaining Payment Dates to and including the Series 2012-1 Legal Final Payment Date. 

Section 204. Amounts and Terms of Series 2012-1 Noteholder Commitments; Payments. 

(a) Subject to the terms and conditions hereof and the Series 2012-1 Note Purchase Agreement, each Series 2012-1 Noteholder agrees to
make its Series 2012-1 Note Commitment available to the Issuer on the Closing Date. 
 (b) (i) Prior to the
Conversion Date, each Series 2012-1 Note shall be a revolving note with a maximum principal amount equal to the then Series 2012-1 Note Commitment of such Series 2012-1 Noteholder. Each Deal Agent shall maintain records of all Series 2012-1 Advances
and repayments made on each Series 2012-1 Note, which records shall, absent manifest error, be conclusive. On any Business Day requested by the Issuer in an irrevocable writing delivered by not later than 5:00 p.m. (New York City time) on the third
(3rd) preceding Business Day and presuming that the
Issuer shall have satisfied all applicable conditions precedent set forth in Section 502 (and, in the case of the initial Series 2012-1 

  
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Advance, Section 501), each Series 2012-1 Noteholder shall, subject to the terms and conditions of the Series 2012-1 Note Purchase Agreement, deposit in the account designated by the
Issuer by wire transfer of same day funds an amount equal to its Pro Rata Share of the requested Series 2012-1 Advance; provided, however, that (i) each Series 2012-1 Advance by a Series 2012-1 Noteholder shall be in an amount
(A) not less than the least of $100,000 and the lesser of the amounts described in the following clauses (B)(x) and (B)(y), (B) not greater than the lesser of (x) the then Unused Commitment of such Series 2012-1
Noteholder and (y) such Series 2012-1 Noteholder’s ratable share (determined based on the then aggregate unused Series 2012-1 Note Commitments of all Series 2012-1 Noteholders) of the Availability on such Business Day and (ii) in the
event that any Series 2012-1 Noteholder fails to make a Series 2012-1 Advance in accordance with its Series 2012-1 Note Commitment, then the other Series 2012-1 Noteholder(s) shall not be obligated to fund the Pro Rata Share of the Series 2012-1
Advance of the defaulted Series 2012-1 Noteholder(s). The Issuer shall pay interest on the Series 2012-1 Notes at the rates and in the manner set forth in Section 202 hereof. The unpaid principal amount of the Series 2012-1 Notes and all
unpaid interest accrued thereon, together with any unpaid Unused Fees and, without duplication of the amounts set forth in Section 203, all other fees, expenses, costs and other sums chargeable to Issuer incurred in connection therewith,
shall be due and payable on the Series 2012-1 Legal Final Payment Date. 
 (ii) Each request for a Series 2012-1 Advance shall
constitute an affirmation by Issuer that all of the conditions precedent set forth in Section 502 of the Supplement and the Series 2012-1 Note Purchase Agreement are true, correct and complete in all material respects to the same extent
as though made on and as of the date of the request, except to the extent such representations and warranties specifically relate to an earlier date, in which event they shall be true, correct and complete in all material respects as of such earlier
date. 
 (iii) If a Series 2012-1 Noteholder fails to fund a requested Series 2012-1 Advance pursuant to a valid request made
in accordance with Section 204(b), the Issuer shall promptly notify the Indenture Trustee that such Person should be classified as a Defaulting Noteholder. Thereafter, the Issuer shall promptly notify the Indenture Trustee of any
subsequent change in such classification. 
 (c) Subject to Section 209(a)(iii), on each Payment Date, the Issuer
shall pay an unused fee (the “Unused Fee”) to each Series 2012-1 Noteholder in an amount equal to the sum for each day during the immediately preceding Interest Accrual Period of the product of (x) the applicable Unused Fee
Percentage on such date, (y) 1/360 and (z) the Unused Commitment of such Series 2012-1 Noteholder on such date. Such Unused Fee shall be payable from amounts then on deposit in the Series 2012-1 Series Account in accordance with
Section 303 hereof. 
 (d) All payments of principal and interest on the Series 2012-1 Notes and fees with respect
to the Series 2012-1 Notes shall be paid to the Series 2012-1 Noteholders reflected in the Note Register as of the related Record Date on a Pro Rata basis by wire transfer of immediately available funds for receipt prior to 11:00 a.m. (New York City
time) on the related Payment Date. Any payments received by a Series 2012-1 Noteholder after 11:00 a.m. (New York City time) on any day shall be considered to have been received on the next succeeding Business Day. 

  
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 Section 205. Taxes. 

(a) In addition to payments of principal and interest on the Series 2012-1 Notes when due, the Issuer shall pay, but only in accordance
with the priorities for distributions set forth in Section 303 hereof, to each affected Series 2012-1 Noteholder, any member of its Related Group or any other Person that has advanced funds to, sold, committed to advance funds to, or
committed to purchase from a Series 2012-1 Noteholder, an interest in the Series 2012-1 Note owned by such Series 2012-1 Noteholder (such Series 2012-1 Noteholder, any member of its Related Group and any such Person being an “Indemnified
Party”), any and all present or future taxes, fees, duties, levies, imposts, or charges, or any other similar deduction or withholding, imposed by any Governmental Authority on payments owing by the Issuer to such Indemnified Party, and all
liabilities with respect thereto, excluding (i) taxes imposed by the jurisdiction in which that Indemnified Party’s principal office is located (and/or the office where such Indemnified Party books its investment in its Series 2012-1 Note)
on all or part of the net income, profits or gains of such Indemnified Party and (ii) interest, penalties, and additions thereto arising out of such Indemnified Party’s gross negligence (all such non-excluded taxes, levies, imposts,
deductions, charges, withholdings and liabilities being hereinafter referred to as “Taxes”). 
 (b) In
addition, the Issuer shall pay, subject to the priorities set forth in Section 303, any present or future stamp or documentary taxes or any other excise or property taxes, charges or similar levies which arise from any payment made
hereunder or from the execution, delivery or registration of, or otherwise with respect to, this Supplement or any other documents related to the issuance of the Series 2012-1 Notes (hereinafter referred to as “Other Taxes”).

 (c) If any Taxes or Other Taxes are directly asserted or imposed against any Indemnified Party, the Issuer shall indemnify
and hold harmless such Indemnified Party, subject to the priorities for distribution set forth in Section 303, for the full amount of the Taxes or Other Taxes (including any Taxes or Other Taxes asserted or imposed by any jurisdiction on
amounts payable under this Section 205) paid by the Indemnified Party and any liability (including penalties, interest, additions to tax and expenses) arising therefrom or with respect thereto, whether or not such Taxes or Other Taxes
were correctly or legally asserted or imposed. If the Issuer fails to pay any Taxes or Other Taxes when due to the appropriate taxing authority or fails to remit to the Indemnified Party the required receipts or other required documentary evidence,
the Issuer shall indemnify the Indemnified Party for any incremental Taxes or Other Taxes, interest or penalties that may become payable by the Indemnified Party as a result of any such failure. Payment under this indemnification shall be made in
accordance with the priorities for distributions set forth in Section 303 hereof after the Indemnified Party makes written demand therefor. The Indemnified Party shall give prompt notice to Issuer of any assertion of Taxes or Other Taxes
so that Issuer may, at its option, contest such assertion. 
 (d) Within thirty (30) days after the date of any payment by
the Issuer of Taxes or Other Taxes, the Issuer shall furnish to each of the Series 2012-1 Noteholders the original or a certified copy of a receipt evidencing payment thereof, or other evidence of payment satisfactory to the Series 2012-1
Noteholders. 
 (e) Taxes and Other Taxes shall not constitute a “claim” (as defined in Section 101(5) of
the Bankruptcy Code) against the Issuer or the Collateral in the event there are insufficient funds to make such payments in accordance with the payment priorities set forth in Section 303 hereof. 

  
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 (f) On or before the date it acquires a Series 2012-1 Note (and, so long as it may properly
do so, periodically thereafter, as requested by Issuer, to keep forms up to date), each Indemnified Party that is organized under the laws of a jurisdiction outside the United States of America shall deliver to the Indenture Trustee any
certificates, documents or other evidence that shall be required by the Code (or any regulations issued pursuant thereto) to establish that, assuming the Series 2012-1 Notes are properly characterized as indebtedness, it is exempt from existing
United States Federal withholding requirements, including (i) two original copies of Internal Revenue Service Form 1001 or Form 4224 or successor applicable form, properly completed and duly executed by the Series 2012-1 Noteholder certifying
that it is entitled to receive payments under this Supplement without deduction or withholding of any United States Federal income taxes, and (ii) an original copy of Internal Revenue Service Form W-8 or W-9 or applicable successor form,
properly completed and duly executed; provided, that if any Series 2012-1 Noteholder does not comply with this Section 205(f), amounts payable to such Series 2012-1 Noteholder under this Section 205 shall be limited to
amounts that would have been payable under this Section 205 if such Series 2012-1 Noteholder had so complied. 

Section 206. Increased Costs. If any Indemnified Party shall determine that, due to (a) the adoption of, or of any
change in, any applicable law, rule or regulation after the Closing Date (“Applicable Law”) (other than any change by way of imposition of or increase in reserve requirements included in the calculation of the LIBOR Rate),
(b) any change after the Closing Date in the interpretation or administration by any Governmental Authority of any Applicable Law or compliance with any guideline or request issued after the Closing Date from any central bank or other
Governmental Authority (whether or not having the force of law) and (c) the compliance, application or implementation by any Indemnified Party with the foregoing subclauses (a) or (b) or any Existing Law, there shall be any increase
in the cost to such Indemnified Party of agreeing to maintain its investment in any Note, then the Issuer shall be liable for, and shall from time to time, pay to such Indemnified Party such additional amounts as are sufficient to compensate such
Indemnified Party for such Increased Costs; provided, however, that such Indemnified Party shall (i) use reasonable efforts in good faith to mitigate any such Increased Costs and (ii) provide to Issuer in writing the basis for such
Increased Costs. Payment under this indemnification shall be made in accordance with the priorities for distributions set forth in Section 303 hereof after the Indemnified Party makes written demand therefor. Amounts payable pursuant to
this Section 206 shall not constitute a claim against the Issuer or the Collateral in the event that such amounts are not paid in accordance with Section 303 hereof. 

Section 207. Capital Requirements. If any Indemnified Party shall determine that (a) the adoption of, or change in,
after the Closing Date, any law, rule, regulation or guideline adopted by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or any foreign regulatory
authorities, in each case pursuant to or arising out of Basel II or Basel III, (b) the adoption after the Closing Date of any law, governmental rule, regulation, guideline or directive regarding capital adequacy (whether or not having the force
of law), (c) any change after the Closing Date in the enforcement or interpretation or administration of any of the foregoing by any Governmental 

  
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Authority charged with the enforcement or interpretation or administration thereof, including any guidance or request made a Governmental Authority (whether or not having the force of law), or
(d) the compliance, application or implementation by any Indemnified Party (or any business office of the Indemnified Party) or the Indemnified Party’s holding company with any of the foregoing subclauses (a), (b) or (c) or any
Existing Law has or would have the effect of reducing the rate of return on the Indemnified Party’s capital or on the capital of the Indemnified Party’s holding company, if any, as a consequence of maintaining its commitment to purchase
Notes or maintain its investment in a Note to a level below that which the Indemnified Party or the Indemnified Party’s holding company could have achieved but for the occurrences set out in the foregoing subclauses (a), (b), (c) or
(d) (taking into consideration the Indemnified Party’s policies and the policies of the Indemnified Party’s holding company with respect to capital adequacy) by an amount reasonably deemed by the Indemnified Party to be material, then
upon written demand by the Indemnified Party, the Issuer shall be liable for such additional amount or amounts as will compensate the Indemnified Party or the Indemnified Party’s holding company for any such reduction suffered. Payment of this
indemnification shall be made in accordance with the priorities for distributions set forth in Section 303 hereof after the Indemnified Party makes written demand therefor. Indemnification amounts shall not constitute a claim against the
Issuer or the Collateral in the event such amounts are not paid in accordance with Section 303 hereof. Without affecting its rights under this Section 207 or any other provision hereof or the Indenture, the Indemnified Party
agrees that if there is an increase in any cost to or reduction in any amount receivable by the Indemnified Party with respect to which the Issuer would be obligated to compensate the Indemnified Party pursuant to this Section 207, the
Indemnified Party shall use reasonable efforts to select an alternative business office which would not result in any such increase in any cost to or reduction in any amount receivable by the Indemnified Party; provided, however, that the
Indemnified Party shall not be obligated to select an alternative business office if the Indemnified Party determines that (i) as a result of such selection the Indemnified Party would be in violation of any applicable law, governmental rule or
regulation or would incur material, additional costs or expenses, or (ii) such selection would be unavailable for regulatory reasons. 
 Section 208. Affected Parties. 
 (a) A certificate of an Indemnified
Party setting forth the amount or amounts necessary to compensate such an Indemnified Party or its holding company, as the case may be, as specified in Section 206 and/or Section 207 and delivered to the Issuer shall be
conclusive absent manifest error; provided that such certificate (i) sets forth in reasonable detail the amount or amounts payable to such Indemnified Party pursuant to such Section 206 or 207, (ii) explains the
methodology used to determine such amount, (iii) states that the applicable increased costs or reductions were suffered no more than ninety (90) days (or, if the circumstances giving rise to such increased costs or reductions were
retroactive, such period in excess of ninety (90) days as includes the period of retroactive effect) prior to the date of such certificate, and (iv) states that such amount is consistent with amounts that such Indemnified Party has
required other similarly situated borrowers or obligors to pay with respect to such increased costs or reductions. 
 (b)
Failure or delay on the part of any Indemnified Party to demand compensation pursuant to Section 206 and/or Section 207 shall not constitute a waiver of such Indemnified Party’s right to demand such compensation,
provided that the Issuer shall not be 

  
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required to compensate an Indemnified Party pursuant to such Sections (i) to the extent that such increased costs or reductions were suffered more than ninety (90) days prior to the
date on which such Indemnified Party notifies the Issuer of the circumstances giving rise to such increased costs or reductions and of such Indemnified Party’s intention to claim compensation therefor (except that, if the circumstances giving
rise to such increased costs or reductions is retroactive, then the ninety (90) day period referred to above shall be extended to include the period of retroactive effect thereof) or (ii) if such Indemnified Party has not required other
similarly situated borrowers or obligors to pay comparable amounts with respect to such increased costs or reductions. 
 (c)
The Issuer may, at its sole expense and effort, upon not less than three Business Days prior written notice to any Indemnified Party that makes a demand pursuant to Section 206 or 207 (each an “Affected Party”), require
such Affected Party to transfer and assign, without recourse (in accordance with and subject to the restrictions contained in the Indenture), all of its interests, rights and obligations under its Series 2012-1 Note to an assignee that shall assume
such assigned obligations (which assignee may or may not be another Series 2012-1 Noteholder, if a Series 2012-1 Noteholder accepts such assignment, but is not required to be another Series 2012-1 Noteholder); provided that (A) such
Affected Party shall have received payment of an amount equal to the outstanding principal of its Series 2012-1 Note, accrued interest thereon, accrued fees and all other amounts payable to it hereunder (including any amounts that have been accrued
pursuant to Section 206 and/or Section 207, as applicable) and under the other Series 2012-1 Related Documents from the Issuer or the assignee (to the extent of such outstanding principal and accrued interest and fees) or the
Issuer (in the case of all other amounts); and (B) such assignment does not conflict with Applicable Law. 

Section 209. Defaulting Noteholders. 
 (a) Adjustments. Notwithstanding anything to the contrary contained in any Series 2012-1 Related Document, if any Series 2012-1 Noteholder becomes a Defaulting Noteholder, then, until such time as
that Series 2012-1 Noteholder is no longer a Defaulting Noteholder, to the extent permitted by applicable law: 
 (i)
Waivers and Amendments. Notwithstanding anything to the contrary in any Series 2012-1 Related Document, a Series 2012-1 Noteholder that is then classified as Defaulting Noteholder shall not have any right to approve or disapprove any
amendment, waiver or consent under any Series 2012-1 Related Document (and any amendment, waiver or consent which by its terms requires the consent of all Series 2012-1 Noteholders or each affected Series 2012-1 Noteholder may be effected with the
consent of the applicable Series 2012-1 Noteholders other than Defaulting Noteholders), except that (A) the Series 2012-1 Note Commitment of any Defaulting Noteholder may not be increased or extended without the consent of such Series 2012-1
Noteholder and (B) any waiver, amendment or modification requiring the consent of all Series 2012-1 Noteholders or each affected Series 2012-1 Noteholder that by its terms affects any Defaulting Noteholder more adversely than other affected
Series 2012-1 Noteholders shall require the consent of such Defaulting Noteholder. 
 (ii) Limited Right of Set-off.
During the period from the Closing Date to the Conversion Date, any amounts on deposit in the Series 2012-1 Series Account which would otherwise be payable as principal, interest, fees or other amounts (whether payable


  
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pursuant to Section 303 or otherwise) to a Series 2012-1 Noteholder that is then classified as a Defaulting Noteholder, shall, in accordance with the written direction of the Issuer,
be applied to fund to the Issuer any previously requested Series 2012-1 Advance in respect of which such Defaulting Noteholder has failed to fund its portion thereof as required by the terms of the Series 2012-1 Related Documents. Any payments,
prepayments or other amounts paid or payable to a Defaulting Noteholder that are so applied shall be deemed paid to and redirected by such Defaulting Noteholder, and each Series 2012-1 Noteholder is hereby deemed to have irrevocably consented to
this treatment. 
 (iii) Unused Fees. A Defaulting Noteholder shall not be entitled to receive any Unused Fee accrued
during any period in which such Series 2012-1 Noteholder is a Defaulting Noteholder (and the Issuer shall not be required to pay any such fee that otherwise would have been required to have been paid to such Defaulting Noteholder). 

(b) Replacement of Defaulting Noteholder. The Issuer may, at its sole expense and effort, upon not less than three Business Days
prior written notice to a Defaulting Noteholder, require such Defaulting Noteholder to transfer and assign, without recourse (in accordance with and subject to the restrictions contained in the Indenture), all of its interests, rights and
obligations under its Series 2012-1 Note to an assignee that shall assume such assigned obligations (which assignee may or may not be another Series 2012-1 Noteholder, if a Series 2012-1 Noteholder accepts such assignment, but is not required to be
another Series 2012-1 Noteholder); provided that (A) such Defaulting Noteholder shall have received payment of an amount equal to the outstanding principal of its Series 2012-1 Note, accrued interest thereon, accrued fees and all other
amounts payable to it hereunder and under the other Series 2012-1 Related Documents, excluding Breakage Costs, from the Issuer or the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Issuer (in the case of
all other amounts), except to the extent that any Unused Fees are not due and payable to such Defaulting Noteholder pursuant to Section 209(a)(iii); and (B) such assignment does not conflict with Applicable Law. 

(c) Defaulting Noteholder Cure. If through the application of the provisions of Section 209(a)(ii) hereof or otherwise
by the Defaulting Noteholder, a Defaulting Noteholder shall have fully funded all Series 2012-1 Advances that it has previously failed to fund, such Person shall cease to be classified as a Defaulting Noteholder. 

ARTICLE III 

Series 2012-1 Series Account and 
 Allocation and Application of Amounts Therein 
 Section 301.
Series 2012-1 Series Account. The Issuer shall establish on the Closing Date and maintain, so long as any Series 2012-1 Note is Outstanding, an Eligible Account with the Indenture Trustee which shall be designated as the Series 2012-1 Series
Account, which account shall be held by the Indenture Trustee for the benefit of the Series 2012-1 Noteholders. All deposits of funds by or for the benefit of the Series 2012-1 Noteholders from the Trust Account and the Restricted Cash Account shall
be accumulated in, and withdrawn from, the Series 2012-1 Series Account in accordance with the provisions of the Indenture and this Supplement. The Issuer hereby grants to the Indenture Trustee, for the benefit of the Series 2012-1 Noteholders, a
security interest in the Series 2012-1 Series Account, all cash and Eligible Investments on deposit therein, all securities entitlement credited thereto, and income and proceeds of the foregoing. 

  
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 Section 302. Drawing Funds from the Restricted Cash Account. 

(a) In the event that the Manager Report with respect to any Determination Date shall state that (or the Administrative Agent shall,
pursuant to Section 302(c) of the Indenture, determine that) the funds on deposit in the Series 2012-1 Series Account will not be sufficient to make payment in full on the related Payment Date of the related Interest Payment then due for
the Series 2012-1 Notes (the amount of such deficiency, the “Permitted Interest Withdrawal”), then the Indenture Trustee shall on such Determination Date draw on the Restricted Cash Account in an amount equal to the lesser of
(x) the Permitted Interest Withdrawal, and (y) the amount then on deposit in the Restricted Cash Account. 
 (b) In
the event that the Manager Report delivered with respect to the Determination Date immediately preceding the Series 2012-1 Legal Final Payment Date shall state that (or the Administrative Agent shall, pursuant to Section 302(c) of the
Indenture, determine that) the funds on deposit in the Series 2012-1 Series Account will not be sufficient to make payment in full on the Series 2012-1 Legal Final Payment Date of the then Aggregate Series 2012-1 Note Principal Balance (the amount
of such deficiency, the “Permitted Principal Withdrawal”), then the Indenture Trustee shall on such Determination Date draw on the Restricted Cash Account in an amount equal to the least of (w) the Aggregate Series 2012-1 Note
Principal Balance, (x) the Permitted Principal Withdrawal, (y) the Maximum Principal Withdrawal Amount as calculated for Series 2012-1 and (z) the amount then on deposit in the Restricted Cash Account. 

(c) Drawings will be made pursuant to Section 302(a) before any drawing is made on such date pursuant to
Section 302(b), and notice of each such drawing will be delivered to the Manager, by hand delivery or facsimile transmission. Any such funds actually received by the Indenture Trustee pursuant to Section 302(a) or
Section 302(b) shall be used solely to make payments of the Series 2012-1 Note Interest Payment or the Aggregate Series 2012-1 Note Principal Balance, as the case may be. 

Section 303. Distribution from Series 2012-1 Series Account. On each Payment Date, the Indenture Trustee shall distribute
funds then on deposit in the Series 2012-1 Series Account in accordance with the provisions of either Part (I), (II) or (III) of this Section 303, in each case, subject to Section 209: 

(I) If neither an Early Amortization Event nor an Event of Default shall have occurred and be continuing with respect to any Series of
Notes: 
 (1) To each Holder of a Series 2012-1 Note on the immediately preceding Record Date, an amount equal to its Pro Rata
portion of the Interest Payment allocated to Series 2012-1, as follows: (A) such Holder’s Pro Rata portion of the Series 2012-1 Note Interest Payment (exclusive of Default Interest, Warehouse Note Increased Interest and Step Up Warehouse
Fees) for such Payment Date, plus (B) such Holder’s Pro Rata portion of the Unused Fee for such Payment Date; 

  
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 (2) To each Holder of a Series 2012-1 Note on the immediately preceding Record Date, an
amount equal to its Pro Rata portion of the Minimum Principal Payment Amount then due and payable to Series 2012-1 Noteholders on such Payment Date; 
 (3) To each Holder of a Series 2012-1 Note on the immediately preceding Record Date, an amount equal to its Pro Rata portion of the Scheduled Principal Payment Amount then due and payable to Series 2012-1
Noteholders on such Payment Date; 
 (4) To each Holder of a Series 2012-1 Note on the immediately preceding Record Date, an
amount equal to its Pro Rata portion (if any) of the Supplemental Principal Payment Amount then due and payable to Series 2012-1 Noteholders on such Payment Date; 
 (5) To each Holder of a Series 2012-1 Note on the immediately preceding Record Date and each other Indemnified Party, its pari passu and pro rata portion of an amount equal to Taxes, Other
Taxes, Increased Costs, Breakage Costs, Step Up Warehouse Fee, Warehouse Note Increased Interest, indemnities and other amounts (including Default Interest) then due and payable to the Series 2012-1 Noteholders and each other Indemnified Party
pursuant to the Series 2012-1 Related Documents; and 
 (6) To the Issuer, any remaining amounts then on deposit in the Series
2012-1 Series Account. 
 (II) If an Early Amortization Event shall have occurred and be continuing with respect to any Series
but no Event of Default shall have occurred and be continuing with respect to any Series: 
 (1) To each Holder of a Series
2012-1 Note on the immediately preceding Record Date, an amount equal to its Pro Rata portion of the Interest Payment allocated to Series 2012-1, as follows: (A) such Holder’s Pro Rata portion of the Series 2012-1 Note Interest Payment
(exclusive of Default Interest, Warehouse Note Increased Interest and Step Up Warehouse Fees) for such Payment Date, plus (B) such Holder’s Pro Rata portion of the Unused Fee for such Payment Date; 

(2) To each Holder of a Series 2012-1 Note on the immediately preceding Record Date, an amount equal to its Pro Rata portion of the
Minimum Principal Payment Amount then due and payable to Series 2012-1 on such Payment Date; 
 (3) To each Holder of a Series
2012-1 Note on the immediately preceding Record Date, an amount equal to its Pro Rata portion of the Scheduled Principal Payment Amount then due and payable to Series 2012-1 on such Payment Date; 

(4) To each Holder of a Series 2012-1 Note on the immediately preceding Record Date, an amount equal to its Pro Rata portion of the then
Aggregate Series 2012-1 Note Principal Balance until the Aggregate Series 2012-1 Note Principal Balance has been reduced to zero; 

  
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 (5) To each Holder of a Series 2012-1 Note on the immediately preceding Record Date and
each other Indemnified Party, its Pro Rata portion of an amount equal to Taxes, Other Taxes, Increased Costs, Breakage Costs, Step Up Warehouse Fee, Warehouse Note Increased Interest, indemnities and other amounts (including Default Interest) then
due and payable to Series 2012-1 Noteholders and each Indemnified Party pursuant to the Series 2012-1 Related Documents; and 

(6) After application of the amounts required to be paid pursuant to Section 302 of the Indenture, to the Issuer, any
remaining amounts then on deposit in the Series 2012-1 Series Account. 
 (III) If an Event of Default shall have occurred and
be continuing with respect to any Series: 
 (1) To each Holder of a Series 2012-1 Note on the immediately preceding Record
Date, an amount equal to its Pro Rata portion of the Interest Payment allocated to Series 2012-1, as follows: (A) such Holder’s Pro Rata portion of the Series 2012-1 Note Interest Payment (exclusive of Default Interest, Warehouse Note
Increased Interest and Step Up Warehouse Fees) for such Payment Date, plus (B) such Holder’s Pro Rata portion of the Unused Fee for such Payment Date; 
 (2) To each Holder of a Series 2012-1 Note on the immediately preceding Record Date its Pro Rata portion of an amount equal to the then Aggregate Series 2012-1 Note Principal Balance until the Series
2012-1 Notes are paid in full; 
 (3) To each Holder of a Series 2012-1 Note on the immediately preceding Record Date and each
other Indemnified Party, its Pro Rata portion of an amount equal to Taxes, Other Taxes, Increased Costs, Breakage Costs, Step Up Warehouse Fee, Warehouse Note Increased Interest, indemnities and other amounts (including Default Interest) then due
and payable to the Series 2012-1 Noteholders and each other Indemnified Party pursuant to the Series 2012-1 Related Documents; and 
 (4) After application of the amounts required to be paid pursuant to Section 302 of the Indenture, to the Issuer, any remaining amounts then on deposit in the Series 2012-1 Series Account.

 ARTICLE IV 
 Additional Covenants and Agreements 
 In addition to the covenants
set forth in Article VI of the Indenture, the Issuer hereby makes the following additional covenants for the benefit of the Series 2012-1 Noteholders: 
 Section 401. Rule 144A. So long as any of the Series 2012-1 Notes are “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, the Issuer shall,
unless it becomes subject to and complies with the reporting requirements of Section 13 and 15(d) of the Exchange Act, or Rule 12g3-2(b) thereunder, provide to any Series 2012-1 Noteholder of such restricted securities, or to any prospective
Series 2012-1 Noteholder of such 

  
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restricted securities designated by a Series 2012-1 Noteholder, upon the request of such Series 2012-1 Noteholder or prospective Series 2012-1 Noteholder, any information required to be provided
by Rule 144A(d)(4) under the Securities Act. 
 Section 402. Depreciation Policy. For purposes of the calculation of
the Asset Base, the Issuer will not, without obtaining in each such instance the prior written consent of all of the Series 2012-1 Noteholders (other than any Defaulting Noteholders), (i) increase the assumed useful life of a Managed Container
to more than twelve (12) years, (ii) increase the residual value of a type of Managed Container to an amount in excess of the Residual Value for such type of Managed Container that is set forth on Exhibit B to the Indenture, or
(iii) otherwise revise the Depreciation Policy with respect to the Managed Containers in such a way as to reduce the amount of depreciation expense that would be recorded in any year from that which would have been recorded pursuant to the
Depreciation Policy. 
 Section 403. Perfection Requirements. The Issuer will not (a) change any of
(i) its corporate name or (ii) the name under which it does business or (b) amend any provision of its certificate of formation or operating agreement or become organized under the laws of any other jurisdiction without the prior
written consent of the Control Party. 
 Section 404. United States Federal Income Tax Election. The Issuer shall
not make an election to be classified as an association taxable as a corporation pursuant to Section 301.7701-3 of the United States Treasury Regulations. 
 Section 405. OFAC Matters. The Issuer shall not in an manner which would violate the laws of the United States, other than pursuant to a license issued by OFAC (i) lease, or consent to
any sublease of, any of the Containers to any Person that is a Prohibited Person or (ii) derive any of its assets or operating income from investments in or transactions with any such Prohibited Person. If the Issuer obtains knowledge that a
Container is subleased to a Prohibited Person or located or used in a Prohibited Jurisdiction in a manner which would violate the laws of the United States (other than pursuant to a license issued by OFAC), then the Issuer shall, within ten
(10) Business Days after obtaining knowledge thereof, remove such Container from the Asset Base for so long as such condition continues. 
 Section 406. Consent to Series Issuance. The Issuer shall not issue any additional Series of Notes without obtaining the prior written consent of, with respect to any Series of Senior Notes,
the Majority of Holders and, with respect to any Series of Subordinate Notes, the Holders of all of the Series 2012-1 Notes. 

ARTICLE V 

Conditions of Effectiveness and Future Lending 
 Section 501. Effectiveness of Supplement. The effectiveness hereof is subject to the condition precedent that the Indenture Trustee shall have received all of the following, each duly executed
and dated as of the Closing Date, in form and substance satisfactory to all of the initial Series 2012-1 Noteholders and each (except for the Series 2012-1 Notes, of which only the originals shall be signed) in sufficient number of signed
counterparts to provide one for each Series 2012-1 Noteholder: 
 (a) Series 2012-1 Notes. Separate Series 2012-1 Notes
executed by the Issuer in favor of each Series 2012-1 Noteholder in the stated maximum principal amount equal to the Series 2012-1 Note Commitment of such Series 2012-1 Noteholder. 

  
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 (b) Certificate(s) of Secretary or Assistant Secretary or Officer. Separate
certificates executed by the corporate secretary, assistant secretary or authorized officer of each of the Manager and the Issuer, dated the Closing Date, certifying (i) that the respective company has the authority to execute and deliver, and
perform its respective obligations under each of the Series 2012-1 Related Documents to which it is a party, and (ii) that attached are true, correct and complete copies of the Memorandum of Association, Certificate of Incorporation, bye-laws,
board resolutions and incumbency certificates of the related company in form and substance satisfactory to each Deal Agent as to such matters as the Deal Agent shall reasonably require. 

(c) Security Documents. This Supplement and a control agreement with respect to the Series 2012-1 Series Account, each in form and
substance satisfactory to all of the initial Series 2012-1 Noteholders, shall have been executed and delivered by the Issuer, and all other parties thereto, together with all UCC financing statements, documents of similar import in other
jurisdictions, and other documents reasonably requested by any Deal Agent. 
 (d) Opinions of Counsel. Opinions from
counsel to the Issuer and counsel to the Manager (and reliance letters regarding existing opinions for Series 2012-1 Noteholders that require such reliance letters) each in form and in substance satisfactory to each Deal Agent as to such matters as
it shall reasonably require including, without limitation, that the Issuer has granted a first priority perfected security interest in the Collateral to the Indenture Trustee. 
 (e) Certificate as to Containers. A certificate from the Manager certifying that it is managing all of the Containers in accordance with the Management Agreement in satisfactory form shall have
been duly executed and delivered. 
 (f) Enforceability, True Sale and Nonconsolidation Opinions. Each of Conyers
Dill & Pearman Limited and Morrison & Foerster LLP shall have delivered its opinions as to enforceability, true sale and non-consolidation in form and substance acceptable to the Deal Agents. 

(g) Fees. The Issuer shall have (A) paid all fees to each Deal Agent in accordance with its respective Fee Letter or
(B) authorized each Deal Agent to offset and retain the amount of such fees from the Series 2012-1 Advance made on the Closing Date. 
 (h) Termination of Funding Commitments under Series 2010-1 Notes. All funding commitments of each Series 2010-1 Noteholders and its Related Group under the Series 2010-1 Supplement issued by TMCL
shall have been terminated. 
 (i) Opinion of Counsel to the Indenture Trustee. An opinion of counsel to the Indenture
Trustee as to the due organization of the Indenture Trustee, the enforceability of the Indenture and as to such other matters as each Deal Agent may reasonably request. 
 Section 502. Subsequent Advances on Series 2012-1 Notes. The obligation of a Series 2012-1 Noteholder to make any Series 2012-1 Advance on the Series 2012-1 Note pursuant to its Series 2012-1
Note Commitment under this Supplement and the Series 2012-1 Note Purchase Agreement is subject to the following further conditions precedent: 
 (a) Default. Before and after giving effect to such Series 2012-1 Advance, no Event of Default shall have occurred and be continuing (or would occur with the giving of notice or the passage of time
or both). 

  
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 (b) Early Amortization Event. Before and after giving effect to such advance, no
Early Amortization Event shall have occurred and be continuing (or would occur with the giving of notice or the passage of time or both) unless such Series 2012-1 Advance has been approved by each Series 2012-1 Noteholder (other than a then
Defaulting Noteholder). 
 (c) Certification. The Issuer shall have delivered to the Deal Agents a compliance
certificate, signed by an officer of Issuer, certifying that (A) the Issuer has complied with all of the conditions precedent set forth in Sections 501 and 502 hereof; (B) all of the representations and warranties of the
Issuer, the Seller and the Manager contained in any of the Series 2012-1 Related Documents are true and correct in all material respects as of the date of such Series 2012-1 Advance, except to the extent such representations and warranties
specifically relate to an earlier date, in which event they shall be true, correct and complete in all material respects as of such earlier date; and (C) all of the conditions precedent to the making of such Series 2012-1 Advance have been
satisfied. 
 (d) Asset Base Report. The Issuer shall have delivered to each Deal Agent a duly completed and executed
Asset Base Report, determined after giving effect to any Eligible Containers to be acquired with the proceeds of such Series 2012-1 Advance, which demonstrates that, after giving effect to such Series 2012-1 Advance, the sum of the then unpaid
principal balance of all Series of Notes then Outstanding (calculated after giving effect to the requested Series 2012-1 Advance) does not exceed the Asset Base. 
 (e) Conversion Date. The Conversion Date shall not have occurred, unless such Series 2012-1 Advance has been approved by each Series 2012-1 Noteholder (other than a then Defaulting Noteholder).

 ARTICLE VI 
 Representations and Warranties 
 To induce the Series 2012-1
Noteholders to purchase the Series 2012-1 Notes hereunder, the Issuer hereby represents and warrants to the Series 2012-1 Noteholders that: 
 Section 601. Existence. The Issuer is a company duly organized, validly existing and in compliance under the laws of Bermuda. The Issuer is in good standing and is duly qualified to do
business in each jurisdiction where the failure to do so would have a material adverse effect upon the Issuer and in each jurisdiction in which a failure to so qualify would materially and adversely effect the ability of the Indenture Trustee to
enforce its security interest in the Collateral. 
 Section 602. Authorization. The Issuer has the power and is duly
authorized to execute and deliver this Supplement and the other Series 2012-1 Related Documents to which it is a 

  
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party. The Issuer is and will continue to be duly authorized to borrow monies hereunder; and the Issuer is and will continue to be authorized to perform its obligations under this Supplement and
under the other Series 2012-1 Related Documents. The execution, delivery and performance by the Issuer hereof and the other Series 2012-1 Related Documents to which it is a party and the borrowings hereunder do not and will not require any consent
or approval of any Governmental Authority, stockholder or any other Person which has not already been obtained. 

Section 603. No Conflict, Legal Compliance. The execution, delivery and performance hereof and each of the other Series
2012-1 Related Documents and the execution, delivery and payment of the Series 2012-1 Notes will not: (a) contravene any provision of Issuer’s memorandum of association or bye-laws; (b) contravene, conflict with or violate any
Applicable Law or regulation, or any order, writ, judgment, injunction, decree, determination or award of any Governmental Authority; or (c) violate or result in the breach of, or constitute a default under the Indenture, the Series 2012-1
Related Documents, any other indenture or other loan or credit agreement, or other agreement or instrument to which the Issuer is a party or by which the Issuer, or its property and assets may be bound or affected. Issuer is not in violation or
breach of or default under any law, rule, regulation, order, writ, judgment, injunction, decree, determination or award or any contract, agreement, lease, license, indenture or other instrument to which it is a party. 

Section 604. Validity and Binding Effect. This Supplement is, and each Series 2012-1 Related Document to which Issuer is a
party, when duly executed and delivered, will be, the legal, valid and binding obligation of the Issuer, enforceable against the Issuer in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency or other similar
laws of general application affecting the enforcement of creditors’ rights or by general principles of equity limiting the availability of equitable remedies. 
 Section 605. Financial Statements. Since the date of the most recent audited financial statements delivered pursuant to Section 626 of the Indenture, there has been no Material Adverse
Change in the financial condition of any of the Issuer, either Seller or the Manager. 
 Section 606. Executive
Offices. The Issuer’s only “place of business” (within the meaning of 9-307 of the UCC) is located at Century House, 16 Par-la-Ville Road, Hamilton HM HX, Bermuda. The Issuer does not maintain an office or assets in the
United States, other than (i) the Trust Account, the Restricted Cash Account and the Series Accounts and (ii) off-hire containers located in depots in the United States and containers described in Section 606(g) of the
Indenture. 
 Section 607. No Agreements or Contracts. The Issuer is not now and has not been a party to any
contract or agreement (whether written or oral) other than the Related Documents. 
 Section 608. Consents and
Approvals. No approval, authorization or consent of any trustee or holder of any Indebtedness or obligation of Issuer or of any other Person under any agreement, contract, lease or license or similar document or instrument to which Issuer is a
party or by which Issuer is bound, is required to be obtained by Issuer in order to make or consummate the transactions contemplated under the Series 2012-1 Related Documents, except for those approvals, authorizations and consents that have been
obtained on or prior to the Closing Date. All consents and approvals of, filings and registrations with, and other actions in respect of, all 

  
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Governmental Authorities required to be obtained by Issuer in order to make or consummate the transactions contemplated under the Series 2012-1 Related Documents have been, or prior to the time
when required will have been, obtained, given, filed or taken and are or will be in full force and effect. 
 Section 609.
Margin Regulations. Issuer does not own any “margin security”, as that term is defined in Regulation U of the Federal Reserve Board, and the proceeds of the Series 2012-1 Notes issued under this Supplement will be used only
for the purposes contemplated hereunder. None of such proceeds will be used, directly or indirectly, for the purpose of purchasing or carrying any margin security, for the purpose of reducing or retiring any Indebtedness which was originally
incurred to purchase or carry any margin security or for any other purpose which might cause any of the loans under this Supplement to be considered a “purpose credit” within the meaning of Regulations T, U and X. Issuer will not
take or permit any agent acting on its behalf to take any action which might cause this Supplement or any document or instrument delivered pursuant hereto to violate any regulation of the Federal Reserve Board. 

Section 610. Taxes. All federal, state, local and foreign tax returns, reports and statements required to be filed by Issuer
have been filed with the appropriate Governmental Authorities, and all Taxes, Other Taxes and other impositions shown thereon to be due and payable by Issuer have been paid prior to the date on which any fine, penalty, interest or late charge may be
added thereto for nonpayment thereof, or any such fine, penalty, interest, late charge or loss has been paid, or Issuer is contesting its liability therefor in good faith and has fully reserved all such amounts according to GAAP in the financial
statements provided to the Noteholders pursuant to Section 626 of the Indenture. Issuer has paid when due and payable all material charges upon the books of Issuer and no Governmental Authority has asserted any Lien against Issuer with
respect to unpaid Taxes or Other Taxes. Proper and accurate amounts have been withheld by Issuer from its employees for all periods in full and complete compliance with the tax, social security and unemployment withholding provisions of applicable
federal, state, local and foreign law and such withholdings have been timely paid to the respective Governmental Authorities. 

Section 611. Other Regulations. Issuer is not an “investment company,” or an “affiliated
person” of, or a “promoter” or “principal underwriter” for, an “investment company,” as such terms are defined in the Investment Company Act of 1940, as amended. The issuance of the Series
2012-1 Notes hereunder and the application of the proceeds and repayment thereof by Issuer and the performance of the transactions contemplated by this Supplement and the other Series 2012-1 Related Documents will not violate any provision of the
Investment Company Act, or any rule, regulation or order issued by the SEC thereunder. 
 Section 612. Solvency and
Separateness. 
 (i) The capital of the Issuer is adequate for the business and undertakings of the Issuer.

 (ii) Other than with respect to the transactions contemplated hereby, the Issuer is not engaged in any
business transactions with the Sellers or the Manager except as permitted by the Management Agreement, the Container Transfer Agreement or the Container Sale Agreement. 

  
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 (iii) The Bye-laws of Issuer provide that Issuer shall have seven directors,
one of which must be an Independent Director (as defined therein). Issuer’s Bye-laws further require the affirmative vote of all its members and directors (including the Independent Director) for (a) the amalgamation, consolidation or
merger of Issuer with or into any other entity, (b) the sale of all or substantially all of Issuer’s assets, (c) the discontinuance of Issuer in Bermuda and continuance of Issuer in a jurisdiction outside Bermuda, (d) the
institution of any proceeding by Issuer seeking liquidation, winding-up, reorganization, arrangement, adjustment, protection, relief or composition of its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors,
or seeking the entry of an order for relief or the appointment of a receiver, trustee or other similar official for it or for any substantial part of its property, (e) the authorization by Issuer of, or consent by Issuer to, any such
proceeding, and (f) the winding up or termination of Issuer’s corporate existence. 
 (iv) The
Issuer’s funds and assets are not, and will not be, commingled with those of the Sellers or the Manager, except as permitted by the Management Agreement. 
 (v) The bye-laws of the Issuer require it to maintain correct and complete books and records of account, and Bermuda law requires it to maintain minutes of the meetings and other proceedings of its
members. 
 (vi) The Issuer is not insolvent under the Insolvency Law and will not be rendered insolvent by the
transactions contemplated by the Series 2012-1 Related Documents and after giving effect to such transactions, the Issuer will not be left with an unreasonably small amount of capital with which to engage in its business nor will the Issuer have
intended to incur, or believe that it has incurred, debts beyond its ability to pay such debts as they mature. The Issuer does not contemplate the commencement of insolvency, bankruptcy, liquidation or consolidation Proceedings or the appointment of
a receiver, liquidator, trustee or similar official in respect of the Issuer or any of its assets. 
 Section 613.
Survival of Representations and Warranties. So long as any of the Series 2012-1 Notes shall be Outstanding and until payment and performance in full of the Aggregate Outstanding Obligations, the representations and warranties contained herein
shall have a continuing effect as having been true when made. 
 Section 614. No Default. No Event of Default or
Early Amortization Event (or event or condition which with the giving of notice or passage of time or both would become an Event of Default or Early Amortization Event) has occurred and is continuing. 

Section 615. Litigation and Contingent Liabilities. No claims, litigation, arbitration Proceedings or governmental
Proceedings by any Governmental Authority are pending or threatened against or are affecting the Issuer or any of its Affiliates the results of which might interfere with the consummation of any of the transactions contemplated by this Supplement or
any document issued or delivered in connection herewith. 

  
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 Section 616. Subsidiaries. Issuer has had no subsidiaries. 

Section 617. No Partnership. Issuer is not a partner or joint venturer in any partnership or joint venture. 

Section 618. Pension and Welfare Plans. No accumulated funding deficiency (as defined in Section 412 of the Code or
Section 302 of ERISA) or reportable event (within the meaning of Section 4043 of ERISA), has occurred with respect to any Plan of the Issuer or any ERISA Affiliate. The present value of all benefit liabilities under all Plans of the Issuer
or any ERISA Affiliate subject to Title IV of ERISA, as defined in Section 4001(a)(16) of ERISA, exceeds the fair market value of all assets of Plans subject to Title IV of ERISA (determined as of the most recent valuation date for such Plan on
the basis of assumptions prescribed by the Pension Benefit Guaranty Corporation for the purpose of Section 4044 of ERISA), by no more than $1.9 million. Neither Issuer nor any ERISA Affiliate is subject to any present or potential withdrawal
liability pursuant to Title IV of ERISA and no multiemployer plan (with the meaning of Section 4001(a)(3) of ERISA) to which the Issuer or any ERISA Affiliate has an obligation to contribute or any liability, is or is likely to be disqualified
for tax purposes, in reorganization within the meaning of Section 4241 of ERISA or Section 418 of the Code) or is insolvent (as defined in Section 4245 of ERISA). No liability (other than liability to make periodic contributions to
fund benefits) with respect to any Plan of Issuer, or Plan subject to Title IV of ERISA or any ERISA Affiliate, has been, or is expected to be, incurred by Issuer or an ERISA Affiliate, either directly or indirectly. All Plans of Issuer are in
material compliance with ERISA and the Code. No lien under Section 412 of the Code or 302(f) of ERISA or requirement to provide security under the Code or ERISA has been or is reasonably expected by Issuer to be imposed on its assets. The
Issuer does not have any obligation under any collective bargaining agreement. As of the Closing Date, the Issuer is not an “employee benefit plan” with the meaning of ERISA or a “plan” within the meaning of
Section 4975 of the Code and assets of the Issuer do not constitute “plan assets” within the meaning of Section 2510.3-101 of the regulations of the Department of Labor. 

Section 619. Ownership of Issuer. The Issuer was formed by TMCL as a direct, wholly-owned subsidiary of TMCL. On the Closing
Date, following the issuance of the Series 2012-1 Notes, the Issuer will be a wholly-owned subsidiary of TL. 

Section 620. Use of Proceeds. The Issuer shall use the proceeds from the issuance of the Series 2012-1 Notes (i) to
acquire Containers and other Collateral including the acquisition on the Closing Date of Containers from TMCL for a cash purchase price sufficient to repay in full the Series 2010-1 Notes issued by TMCL, (ii) to pay the costs of issuance of the
Series 2012-1 Notes, (iii) to repay other indebtedness, and (iv) for general corporate purposes. For avoidance of doubt, the Issuer may use the proceeds of any Series 2012-1 Advance to make payments on, or in respect of, any other Series
of Notes. 
 Section 621. Security Interest Representations. 

(a) The Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Containers and the proceeds
thereof in favor of the Indenture Trustee, which security interest is prior to all other Liens, and is enforceable as such against creditors of and purchasers from the Issuer. 

  
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 (b) The Containers constitutes “goods” within the meaning of the applicable UCC.

 (c) The Issuer owns and has good and marketable title to the Containers free and clear of any Lien, claim, or encumbrance of
any Person. 
 (d) The Issuer has caused or will have caused, within ten days, the filing of all appropriate financing
statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the security interest in the Containers and the proceeds thereof granted to the Indenture Trustee under the Indenture. 

(e) Other than the security interest granted to the Indenture Trustee pursuant to the Indenture, the Issuer has not pledged, assigned,
sold, granted a security interest in, or otherwise conveyed any of the Containers or the proceeds thereof. The Issuer has not authorized the filing of and is not aware of any financing statements against the Issuer that include a description of
collateral covering the Containers or the proceeds thereof other than any financing statement relating to the security interest granted to the Indenture Trustee under the Indenture or that has been terminated. The Issuer is not aware of any judgment
or tax lien filings against the Issuer. 
 (f) No creditor of the Issuer other than Indenture Trustee has in its possession any
goods that constitute or evidence the Containers or the proceeds thereof. 
 (g) The Indenture creates a valid and continuing
security interest (as defined in the applicable UCC) in the Trust Account, the Restricted Cash Account and the Series 2012-1 Series Account in favor of the Indenture Trustee, which security interest is prior to all other Liens, and is enforceable as
such against creditors of and purchasers from Issuer. 
 (h) All Eligible Investments have been and will have been credited to
one of the Trust Account, the Restricted Cash Account and the Series 2012-1 Series Account. The securities intermediary for each Trust Account, the Restricted Cash Account and the Series 2012-1 Series Account has agreed to treat all assets credited
to the Trust Account, the Restricted Cash Account and the Series 2012-1 Series Account as “financial assets” within the meaning of the UCC. 
 (i) The Issuer owns and has good and marketable title to each of the Trust Account, the Restricted Cash Account, the Series 2012-1 Series Account and the Eligible Investments credited thereto
(collectively, the “Securities Entitlements Collateral”) free and clear of any Lien, claim, or encumbrance of any Person. 
 (j) The Issuer has received all consents and approvals required by the terms of the Eligible Investments to the transfer to the Indenture Trustee all of its interest and rights in the Eligible
Investments. 

  
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 (k) The Issuer has delivered to Indenture Trustee a fully executed agreement pursuant to
which the securities intermediary has agreed to comply with all instructions originated by the Indenture Trustee relating to the Trust Account, the Restricted Cash Account and the Series 2012-1 Series Account without further consent by the Issuer;
or: 
 (l) Other than the security interest granted to the Indenture Trustee pursuant to the Indenture, the Issuer has not
pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Securities Entitlement Collateral. The Issuer has not authorized the filing of and is not aware of any financing statements against the Issuer that include a
description of collateral covering the Securities Entitlement Collateral other than any financing statement relating to the security interest granted to the Indenture Trustee hereunder or that has been terminated. 

(m) The Trust Account, the Restricted Cash Account and the Series 2012-1 Series Account are not in the name of any person other than the
Issuer or the Indenture Trustee. The Issuer has not consented to the securities intermediary of any Trust Account, the Restricted Cash Account and the Series 2012-1 Series Account to comply with entitlement orders of any person other than the
Indenture Trustee. 
 (n) The Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in
the Issuer’s contractual rights under any Interest Rate Hedge Agreement, the Contribution and Sale Agreement and the Management Agreement (collectively, the “General Intangible Collateral”) in favor of the Indenture Trustee, which
security interest is prior to all other Liens, and is enforceable as such against creditors of and purchasers from the Issuer. 

(o) The Issuer’s contractual rights under any Interest Rate Hedge Agreement, the Contribution and Sale Agreement and the Management
Agreement constitutes “general intangibles” within the meaning of the applicable UCC. 
 (p) The Issuer owns and has
good and marketable title to the General Intangible Collateral free and clear of any Lien, claim, or encumbrance of any Person. 

(q) The Issuer has received all consents and approvals required by the terms of the General Intangible Collateral to pledge such General
Intangibles Collateral to the Indenture Trustee. 
 (r) The Issuer has caused or will have caused, within ten days, the filing
of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the security interest in the General Intangible Collateral granted to the Indenture Trustee. 

(s) Other than the security interest granted to the Indenture Trustee pursuant to the Indenture, the Issuer has not pledged, assigned,
sold, granted a security interest in, or otherwise conveyed any of the General Intangible Collateral. The Issuer has not authorized the filing of and is not aware of any financing statements against the Issuer that include a description of
collateral covering the General Intangible Collateral other than any financing statement relating to the security interest granted to the Indenture Trustee hereunder or that has been terminated. The Issuer is not aware of any judgment or tax lien
filings against the Issuer. 

  
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 The representations and warranties set forth in this Section 621 shall survive until this
Supplement is terminated in accordance with its terms and the terms of the Indenture. Any breaches of the representations and warranties set forth in this Section 621 may be waived by the Indenture Trustee, only with the prior written
consent of the Control Party, and satisfaction of the Rating Agency Condition. 
 ARTICLE VII 

Miscellaneous Provisions 
 Section 701. Ratification of Indenture. As supplemented by this Supplement, the Indenture is in all respects ratified and confirmed and the Indenture as so supplemented by this Supplement
shall be read, taken and construed as one and the same instrument. 
 Section 702. Counterparts. This Supplement may
be executed in two or more counterparts, and by different parties on separate counterparts, each of which shall be an original, but all of which shall constitute one and the same instrument. Delivery of an executed counterpart hereof by facsimile or
by electronic means shall be equally effective as the delivery of an originally executed counterpart. 
 Section 703.
Governing Law. THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW BUT OTHERWISE WITHOUT REFERENCE TO ITS
CONFLICTS OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 Section 704. Notices. All demands, notices and communications hereunder shall be in writing, personally delivered, or by facsimile (with subsequent telephone confirmation of receipt thereof),
or sent by internationally recognized overnight courier service, (a) in the case of the Indenture Trustee, at the following address: Sixth Street and Marquette Avenue, MAC N9311-161, Minneapolis, Minnesota, 55479, Attention: Corporate Trust
Services/Asset-Backed Administration, and (b) in the case of the Issuer, at the following address: Century House, 16 Par-la-Ville Road, Hamilton HM HX, Bermuda, Telephone: (441) 292-2487, Facsimile: (441) 295-4164, Attention:
Executive Vice President - Asset Management, with a copy to each: (i) Textainer Equipment Management Limited at its address at Century House, 16 Par-la-Ville Road, Hamilton HM HX, Bermuda, Telephone: (441) 292-2487, Facsimile:
(441) 295-4164, Attention: Executive Vice President - Asset Management, and (ii) Textainer Equipment Management (U.S.) Limited at its address at 650 California Street, 16th floor, San Francisco, CA 94108, Telephone: (415) 658-8363,
Facsimile: (415) 434-0599, Attention: Executive Vice President - Asset Management, or at such other address as shall be designated by such party in a written notice to the other parties. Any notice required or permitted to be given to a
Noteholder shall be given by certified first class mail, postage prepaid (return receipt requested), or by courier, or by facsimile, with subsequent telephone confirmation of receipt thereof, in each case at the address of such Holder as shown in
the Note Register or to the telephone and fax number 

  
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furnished by such Noteholder. Notice shall be effective and deemed received (a) upon receipt, if sent by courier or U.S. mail, (b) upon receipt of confirmation of transmission, if sent
by facsimile, or (c) when delivered, if delivered by hand. 
 Section 705. Amendments and Modifications.

 (a) Subject to Section 209(a)(i), the terms hereof may be waived, modified, or amended only in a written
instrument signed by each of the Issuer, the Control Party and the Indenture Trustee (except with respect to the matters set forth in Section 1001(a) of the Indenture, in the case of which any such waiver, modification or amendment shall
be made subject to the terms of such Section 1001). Any amendment to or modification or waiver hereof shall be deemed a supplemental indenture subject to Sections 1001 or 1002 of the Indenture. Subject to
Section 209(a)(i), the Series 2012-1 Note Commitment of an individual Series 2012-1 Noteholder may only be increased and the Conversion Date may only be extended, and the Series 2012-1 Note Purchase Agreement may only be amended, in
accordance with the provisions of Section 9.1 of the Series 2012-1 Note Purchase Agreement. In addition, subject to Section 209(a)(i), any waiver of any conditions precedent set forth in Article V hereof or a
reduction, modification or amendment of any indemnification or Breakage Costs or amounts under Sections 205, 206 and 207 owing to any Series 2012-1 Noteholder shall require the consent of each affected Series 2012-1 Noteholder.

 (b) Promptly after the execution by the Issuer and the Indenture Trustee of any written instrument pursuant to this Section,
the Indenture Trustee shall mail to the Noteholders, Deal Agents, the Administrative Agent, and each Interest Rate Hedge Provider, a copy of such Supplement. Any failure of the Indenture Trustee to mail such copy, or any defect therein, shall not,
however, in any way impair or affect the validity of any such Supplement. 
 Section 706. Consent to Jurisdiction.
ANY LEGAL SUIT, ACTION OR PROCEEDING AGAINST THE ISSUER ARISING OUT OF OR RELATING TO THIS SUPPLEMENT, OR ANY TRANSACTION CONTEMPLATED HEREBY, MAY BE INSTITUTED IN ANY FEDERAL OR STATE COURT IN THE CITY OF NEW YORK, STATE OF NEW YORK AND THE ISSUER
HEREBY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING, AND, SOLELY FOR THE PURPOSES OF ENFORCING THIS SUPPLEMENT, THE ISSUER HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY
SUCH COURT IN ANY SUCH SUIT, ACTION OR PROCEEDING. THE ISSUER HEREBY IRREVOCABLY APPOINTS AND DESIGNATES NATIONAL CORPORATE RESEARCH LTD. HAVING AN ADDRESS AT 10 E. 40TH STREET, 10TH FLOOR, NEW YORK, NY 10016, ITS TRUE AND LAWFUL ATTORNEY-IN-FACT
AND DULY AUTHORIZED AGENT FOR THE LIMITED PURPOSE OF ACCEPTING SERVICE OF LEGAL PROCESS AND THE ISSUER AGREES THAT SERVICE OF PROCESS UPON SUCH PARTY SHALL CONSTITUTE PERSONAL SERVICE OF SUCH PROCESS ON SUCH PERSON. THE ISSUER SHALL MAINTAIN THE
DESIGNATION AND APPOINTMENT OF SUCH AUTHORIZED AGENT UNTIL ALL AMOUNTS PAYABLE UNDER THIS SUPPLEMENT SHALL HAVE BEEN PAID IN FULL. IF SUCH AGENT SHALL CEASE TO SO ACT, THE ISSUER SHALL IMMEDIATELY DESIGNATE AND APPOINT ANOTHER SUCH AGENT
SATISFACTORY TO THE INDENTURE TRUSTEE AND SHALL PROMPTLY DELIVER TO THE INDENTURE TRUSTEE EVIDENCE IN WRITING OF SUCH OTHER AGENT’S ACCEPTANCE OF SUCH APPOINTMENT. 

  
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 Section 707. Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY
WAIVES, AS AGAINST THE OTHER PARTIES HERETO, ANY RIGHTS IT MAY HAVE TO A JURY TRIAL IN RESPECT OF ANY CIVIL ACTION OR PROCEEDING (WHETHER ARISING IN CONTRACT OR TORT OR OTHERWISE), INCLUDING ANY COUNTERCLAIM, ARISING UNDER OR RELATING TO THIS
SUPPLEMENT OR ANY OTHER SERIES 2012-1 RELATED DOCUMENT, INCLUDING IN RESPECT OF THE NEGOTIATION, ADMINISTRATION OR ENFORCEMENT HEREOF OR THEREOF. 
 Section 708. Successors. This Supplement shall inure to the benefit of and be binding upon the Issuer, the Indenture Trustee and, by its acceptance of any Series 2012-1 Note or any legal or
beneficial interest therein, each Series 2012-1 Noteholder and each of such Person’s successors and assigns. 

Section 709. Nonpetition Covenant. Each Series 2012-1 Noteholder by its acquisition of a Series 2012-1 Note shall be deemed
to covenant and agree, that it will not institute against the Issuer any bankruptcy, reorganization, arrangement insolvency or liquidation Proceedings, or other Proceedings under any federal or state bankruptcy or similar law, at any time other than
on a date which is at least one (1) year and one (1) day after the last date on which any Note of any Series was Outstanding. 

  
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 IN WITNESS WHEREOF, the Issuer and the Indenture Trustee have caused this Supplement to be
duly executed and delivered by their respective officers thereunto duly authorized, all as of the day and year first above written. 
  

			
	TEXTAINER MARINE CONTAINERS II LIMITED
	
	By Continental Management Limited, its Assistant Secretary
		
	By:	 	 /s/ Christopher C. Morris

		
	Name:	 	 Christopher C. Morris

		
	Title:	 	 Director



 Series 2012-1 Supplement 







 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Indenture Trustee
		
	By:	 	 /s/ Kristen L. Puttin

		
	Name:	 	 Kristen L. Puttin

		
	Title:	 	 Vice President



 Series 2012-1 Supplement