Document:

Textainer Marine Containers Limited Series 2011-1 Supplement

 EXHIBIT 4.21 

 
  

 
 TEXTAINER MARINE CONTAINERS
LIMITED 
 Issuer 
 and 
 WELLS FARGO BANK, NATIONAL ASSOCIATION 

Indenture Trustee 
  

 
 SERIES 2011-1
SUPPLEMENT 
 DATED AS OF JUNE 22, 2011 
 TO 
 SECOND AMENDED AND RESTATED INDENTURE 

DATED AS OF MAY 26, 2005 
  

 
 SERIES 2011-1
NOTES 
  
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	ARTICLE I Definitions; Calculation Guidelines	  	 	1	  
			
	 Section 101.
	 	Definitions	  	 	1	  
		
	ARTICLE II Creation of the Series 2011-1 Notes	  	 	6	  
			
	 Section 201.
	 	Designation	  	 	6	  
	 Section 202.
	 	Authentication and Delivery	  	 	6	  
	 Section 203.
	 	Interest Payments on the Series 2011-1 Notes	  	 	7	  
	 Section 204.
	 	Principal Payments on the Series 2011-1 Notes	  	 	8	  
	 Section 205.
	 	Prepayment of Principal on the Series 2011-1 Notes	  	 	8	  
	 Section 206.
	 	Payments of Principal and Interest	  	 	9	  
	 Section 207.
	 	Restrictions on Transfer	  	 	9	  
		
	ARTICLE III Series 2011-1 Series Account and Allocation and Application of Amounts Therein	  	 	13	  
			
	 Section 301.
	 	Series 2011-1 Series Account	  	 	13	  
	 Section 302.
	 	Drawing Funds from the Restricted Cash Account	  	 	14	  
	 Section 303.
	 	Distributions from Series 2011-1 Series Account	  	 	14	  
		
	ARTICLE IV Additional Covenants	  	 	17	  
			
	 Section 401.
	 	Rule 144A	  	 	17	  
	 Section 402.
	 	Use of Proceeds	  	 	17	  
	 Section 403.
	 	Perfection Requirements	  	 	17	  
	 Section 404.
	 	United States Federal Income Tax Election	  	 	17	  
	 Section 405.
	 	OFAC Matters	  	 	17	  
		
	ARTICLE V Conditions to Issuance	  	 	17	  
			
	 Section 501.
	 	Conditions to Issuance	  	 	17	  
		
	ARTICLE VI Representations and Warranties	  	 	18	  
			
	 Section 601.
	 	Existence	  	 	18	  
	 Section 602.
	 	Authorization	  	 	18	  
	 Section 603.
	 	No Conflict; Legal Compliance	  	 	18	  
	 Section 604.
	 	Validity and Binding Effect	  	 	18	  
	 Section 605.
	 	Financial Statements	  	 	18	  
	 Section 606.
	 	Place of Business	  	 	19	  
	 Section 607.
	 	No Agreements or Contracts	  	 	19	  
	 Section 608.
	 	Consents and Approvals	  	 	19	  
	 Section 609.
	 	Margin Regulations	  	 	19	  
	 Section 610.
	 	Taxes	  	 	19	  
	 Section 611.
	 	Other Regulations	  	 	20	  
	 Section 612.
	 	Solvency and Separateness	  	 	20	  
	 Section 613.
	 	Title; Liens	  	 	21	  

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
			
	 Section 614.
	 	No Default	  	 	21	  
	 Section 615.
	 	Litigation and Contingent Liabilities	  	 	21	  
	 Section 616.
	 	Subsidiaries	  	 	21	  
	 Section 617.
	 	No Partnership	  	 	21	  
	 Section 618.
	 	Pension and Welfare Plans	  	 	21	  
	 Section 619.
	 	Ownership of Issuer	  	 	22	  
	 Section 620.
	 	Security Interest Representations	  	 	22	  
	 Section 621.
	 	ERISA Lien	  	 	24	  
	 Section 622.
	 	Survival of Representations and Warranties	  	 	24	  
		
	ARTICLE VII Miscellaneous Provisions	  	 	24	  
			
	 Section 701.
	 	Ratification of Indenture	  	 	24	  
	 Section 702.
	 	Counterparts	  	 	24	  
	 Section 703.
	 	Governing Law	  	 	24	  
	 Section 704.
	 	Notices	  	 	24	  
	 Section 705.
	 	Amendments and Modifications	  	 	25	  
	 Section 706.
	 	Consent to Jurisdiction	  	 	25	  
	 Section 707.
	 	Waiver of Jury Trial	  	 	25	  
	 Section 708.
	 	Successors	  	 	25	  
	 Section 709.
	 	Nonpetition Covenant	  	 	26	  
	 Section 710.
	 	Recourse Against the Issuer	  	 	26	  
	 Section 711.
	 	Reports, Financial Statements and Other Information to Noteholders	  	 	26	  

  
 - ii -

 TABLE OF CONTENTS 

(continued) 
  

					
	 	 	 	  	Page
	
	EXHIBITS
			
	EXHIBIT A-1	 	Form of 144A Book-Entry Note	  	
	EXHIBIT A-2	 	Form of Regulation S Temporary Book-Entry Note	  	
	EXHIBIT A-3	 	Form of Unrestricted Book-Entry Note	  	
	EXHIBIT A-4	 	Form of Note Issued to Institutional Accredited Investors	  	
	EXHIBIT B	 	Form of Certificate to be Given by Noteholders	  	
	EXHIBIT C	 	Form of Certificate to be Given by Euroclear or Clearstream	  	
	EXHIBIT D	 	Form of Certificate to be Given by Transferee of Beneficial Interest In a Regulation S Temporary Book-Entry Note	  	
	EXHIBIT E	 	Form of Transfer Certificate for Exchange or Transfer From 144A Book-Entry Note to Regulations S Book-Entry Note	  	
	EXHIBIT F	 	Form of Initial Purchaser Exchange Instructions	  	
	
	SCHEDULES
			
	SCHEDULE 1	 	Series 2011-1 Minimum Targeted Principal Balances and Series 2011-1 Scheduled Targeted Principal Balances by Payment Date	  	

  
 - iii -

 SERIES 2011-1 SUPPLEMENT, dated as of June [ ], 2011 (as amended, modified and supplemented from time to
time in accordance with the terms hereof, this “Supplement”), between Textainer Marine Containers Limited, a Bermuda company (the “Issuer”), and Wells Fargo Bank, National Association, a national banking
association, as Indenture Trustee (the “Indenture Trustee”). 
 WHEREAS, pursuant to the Second Amended and
Restated Indenture, dated as of May 26, 2005 (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. 
 WHEREAS, pursuant to this Supplement, the Issuer and the Indenture Trustee shall create a new Series of Notes (“Series 2011-1”) 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. (a) 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. 
 “Accelerated Measurement Period” shall have the meaning set forth in Section 205(c) hereof. 
 “Aggregate Series 2011-1 Note Principal Balance” means, as of any date of determination, an amount equal to the sum of the Series 2011-1 Note Principal Balances of all Series 2011-1 Notes
then Outstanding, which as of the Closing Date shall be Four Hundred Million Dollars ($400,000,000)]. 
 “Closing
Date” means June 22, 2011. 
 “Control Party” means, with respect to Series 2011-1 Notes, the
holders representing more than fifty percent (50%) of the then unpaid principal balance of all Series 2011-1 Notes then Outstanding. 
 “Default Interest” means, for any Payment Date, the amount of incremental interest payable on the Series 2011-1 Notes in accordance with the provisions of Section 203(b)
hereof. 

 “DTC” shall have the meaning set forth in Section 207(b)(v)
hereof. 
 “Initial Commitment” means (i) on the Closing Date, Four Hundred Million Dollars
($400,000,000) and (ii) at any date of determination thereafter, the then Aggregate Series 2011-1 Note Principal Balance. 

“Initial Purchasers” means Wells Fargo Securities, LLC, a limited liability company organized and existing under the
laws of the State of Delaware, and Merrill Lynch, Pierce, Fenner & Smith Incorporated, a corporation organized and existing under the laws of the State of Delaware. 
 “Interest Accrual Period” means the period beginning with, and including, a Payment Date and ending on (and including) the day before the next succeeding Payment Date; except that, in the
case of the first Interest Accrual Period, the period beginning with and including the Closing Date and ending on and including the day before the initial Payment Date. 
 “Institutional Accredited Investors” shall have the meaning set forth in Section 3(b) of the Series 2011-1 Note Purchase Agreement. 

“Maximum Principal Withdrawal Amount” shall have the meaning set forth in the Indenture. 

“Minimum Principal Payment Amount” means, for the Series 2011-1 Notes on any Payment Date, the excess, if any, of
(x) the then Aggregate Series 2011-1 Note Principal Balance, over (y) the Minimum Targeted Principal Balance for the Series 2011-1 Notes for such Payment Date. 
 “Minimum Targeted Principal Balance” means for the Series 2011-1 Notes for each Payment Date, subject to Section 205(c), the amount set forth opposite such Payment Date on
Schedule 1 hereto under the column entitled “Minimum Targeted Principal Balance”. 
 “Notes” means
the Series 2011-1 Notes. 
 “144A Book-Entry Notes” means the 144A Book-Entry Notes substantially in the form
of Exhibit A-1 hereto. 
 “Omnibus Amendment” means that certain Omnibus Amendment, dated as of June 10,
2011, between the Issuer, the Indenture Trustee and ABN), between the Issuer and the Indenture Trustee. 
 “Overdue
Rate” means, for any date of determination, an interest rate per annum equal to the sum of (i) the interest rate otherwise in effect hereunder plus (ii) two percent (2.00%). 

“Permitted Non-U.S. Person” means any Person (i) who is not a U.S. Person and (ii) to whom the offer and sale
of the Series 2011-1 Notes may be made without registration under the Securities Act in reliance upon Regulation S. 

  
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 “Permitted Payment Date Withdrawal” means, with respect to Series 2011-1,
either or both of the Permitted Interest Withdrawal, as such term is defined in Section 302 hereof, and/or the Permitted Principal Withdrawal, as such term is defined in Section 302(b) hereof. 

“Qualified Institutional Buyers” shall have the meaning set forth in Section 207(a)(i) hereof. 

“Regulation S” means Regulation S under the Securities Act. 

“Regulation S Temporary Book-Entry Notes” means the Regulation S Temporary Book-Entry Notes substantially in the form of
Exhibit A-2. 
 “Rule 144A” shall have the meaning set forth in Section 207(a)(i) hereof.

 “Scheduled Principal Payment Amount” means, for the Series 2011-1 Notes for any Payment Date, the excess, if
any, of (x) the then Aggregate Series 2011-1 Note Principal Balance (after giving effect to any payment of the Minimum Principal Payment Amount for the Series 2011-1 Notes actually paid on such Payment Date), over (y) the Scheduled
Targeted Principal Balance for the Series 2011-1 Notes for such Payment Date. 
 “Scheduled Targeted Principal
Balance” means, for the Series 2011-1 Notes for each Payment Date, subject to Section 205(c), the amount set forth opposite such Payment Date on Schedule 1 hereto under the column entitled “Scheduled Targeted Principal
Balance”. 
 “Series 2005-1 Related Documents” has the meaning set forth in the Series 2005-1 Supplement,
dated as of May 26, 2005 (as amended, restated, supplemented or modified from time to time, including without limitation by the Omnibus Amendment), between the Issuer and the Indenture Trustee. 

“Series 2010-1 Related Documents” has the meaning set forth in the Series 2010-1 Supplement, dated as of June 29,
2010 (as amended, restated, supplemented or modified from time to time, including without limitation by the Omnibus Amendment), between the Issuer and the Indenture Trustee. 
 “Series 2011-1” means the Series of Notes the terms of which are specified in this Supplement. 
 “Series 2011-1 Expected Final Payment Date” means the Payment Date occurring in June 2021. 
 “Series 2011-1 Legal Final Payment Date” means the Payment Date occurring in June 2026. 
 “Series 2011-1 Note” means any one of the notes issued pursuant to the terms of Section 201(a) hereof, substantially in the forms of Exhibit A-1, A-2, A-3 and A-4 to this
Supplement, and any and all replacements or substitutions of such note. Each Series 2011-1 Note is designated as a “Senior Note” as defined in the Indenture. 

  
 3 

 “Series 2011-1 Note Interest Payment” means, for each Series 2011-1 Note on
each Payment Date, the amount set forth in Section 203(a) hereof (exclusive of any Default Interest). 

“Series 2011-1 Note Interest Rate” means, with respect to any Note, four and seven-tenths of one percent
(4.70%) per annum. 
 “Series 2011-1 Note Principal Balance” means, with respect to each Series 2011-1
Note as of any date of determination, an amount equal to the excess of (x) the Series 2011-1 Note Principal Balance of such Series 2011-1 Note as of the Closing Date, over (y) the cumulative amount of all Minimum Principal Payment Amounts,
Scheduled Principal Payment Amounts and any other principal payments actually paid to the Holder of such Series 2011-1 Note subsequent to the Closing Date. 
 “Series 2011-1 Note Purchase Agreement” means the Series 2011-1 Note Purchase Agreement, dated as of June [__], 2011 (as amended, restated, supplemented or modified from time to time),
among the Issuer, Textainer Limited, TGH and the Initial Purchasers. 
 “Series 2011-1 Noteholder” means, at
any time of determination for the Series 2011-1 Notes, any Person in whose name a Series 2011-1 Note is registered in the Note Register. 
 “Series 2011-1 Related Documents” means any and all of the Indenture, this Supplement, the Series 2011-1 Notes, the Management Agreement, the Contribution and Sale Agreement, the Series
2011-1 Note Purchase Agreement, the Administration Agreement, the Manager Transfer Facilitator Agreement, each Interest Rate Hedge Agreement (upon execution thereof) 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 2011-1 Notes, as any of the foregoing may from time to time be amended, modified, supplemented or renewed; provided, the term “Series 2011-1 Related
Documents” shall not include the Members Agreement. 
 “Series 2011-1 Series Account” means the account of
that name established in accordance with Section 301 hereof. 
 “Supplemental Principal Payment
Amount” means, on each Payment Date, the amount of any Prepayment made in accordance with the provisions of Section 702(a) of the Indenture that is allocated to the Series 2011-1 Notes in accordance with such provision of the
Indenture. 
 “Transferor” shall have the meaning set forth in Section 207(b)(v) hereof.

 “Unrestricted Book-Entry Notes” means the Unrestricted Book-Entry Notes substantially in the form of Exhibit
A-3. 

  
 4 

 “U.S. Person” has the meaning set forth in Regulation S. 

(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 2011-1 Note Purchase Agreement. 
 (c) References in this Supplement and any other Series 2011-1
Related Document to any section of the Uniform Commercial Code or the UCC shall mean, on or after the effective date of adoption of any revision to the Uniform Commercial Code or the UCC in the applicable jurisdiction, such revised or successor
section thereto. 

  
 5 

 ARTICLE II 
 Creation of the Series 2011-1 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 Limited Fixed Rate Asset-Backed Notes, Series 2011-1”. The
Notes will be issued in the initial principal balance of $400,000,000 and will not have priority over any other Series, except to the extent set forth in the Supplement for such other Series. The issuance date of the Series 2011-1 Notes is June
[__], 2011. 
 (b) The Payment Date with respect to the Series 2011-1 Notes shall be the fifteenth
(15th) calendar day of each month, commencing
July 15, 2011 or, if such day is not a Business Day, the immediately following Business Day. 
 (c) Payments of principal
on the Series 2011-1 Notes shall be payable from funds on deposit in the Series 2011-1 Series Account or otherwise at the times and in the amounts set forth in Article III of the Indenture and Article III of this Supplement. 

(d) The Series 2011-1 Notes are classified as a “Term Note”, as such term is used in the Indenture. 

(e) The “Expected Final Maturity Date” for Series 2011-1, as such term is used in the Indenture, is the Payment Date occurring
in June 2021. 
 (f) All of the Early Amortization Events set forth in Article XII of the Indenture are applicable to Series
2011-1. 
 (g) The “Related Documents” for Series 2011-1, as such term is used in the Indenture, shall be the Series
2011-1 Related Documents. 
 (h) The “Rating Agency” for Series 2011-1, as such term is used in the Indenture, shall
be Standard & Poor’s. 
 (i) 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 of this Supplement shall govern. 

Section 202. Authentication and Delivery. 
 (a) On the Closing Date, 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, (i) shall authenticate, subject to compliance with the conditions precedent set forth in Section 501 hereof, the Series 2011-1 Notes in accordance with such written directions, and (ii) subject to compliance
with the conditions precedent set forth in Section 501 hereof, shall deliver such Series 2011-1 Notes to the Initial Purchasers in accordance with such written directions. 

  
 6 

 (b) In accordance with Section 202 of the Indenture, the Series 2011-1 Notes sold in
reliance on Rule 144A shall be represented by one or more 144A Book-Entry Notes. Any Series 2011-1 Notes sold in reliance on Regulation S shall be represented by one or more Regulation S Book-Entry Notes. Any Series 2011-1 Notes sold to
Institutional Accredited Investors or other Persons that are not Qualified Institutional Buyers or Permitted Non-U.S. Persons shall be represented by one or more Definitive Notes. 

(c) The Series 2011-1 Notes shall be executed by manual or facsimile signature on behalf of Issuer by any officer of Issuer and shall be
substantially in the forms of Exhibit A-1, A-2, A-3 and A-4 hereto, as applicable. 
 (d) The Series 2011-1 Notes shall be
issued in minimum denominations of $250,000 and in integral multiples in excess thereof. 
 Section 203. Interest
Payments on the Series 2011-1 Notes. 
 (a) Interest on Series 2011-1 Notes. Interest on each Series 2011-1 Note
shall (i) accrue during each Interest Accrual Period at the Series 2011-1 Note Interest Rate, (ii) be calculated on the basis of actual days elapsed during such Interest Accrual Period over a year consisting of 360 days, (iii) be due
and payable on each Payment Date, (iv) be calculated based on the then Series 2011-1 Note Principal Balance of such Series 2011-1 Note and (v) be payable from the Series 2011-1 Series Account in accordance with Section 302
hereof (the amount of interest calculated pursuant to this sentence for any Series 2011-1 Note for any Payment Date being the “Series 2011-1 Note Interest Payment” with respect to such Series 2011-1 Note and Payment Date). To
the extent that the amount of interest which is due and payable on any Payment Date is not paid in full on such date, such shortfall, together with interest thereon at the Overdue Rate, shall be due and payable on the immediately succeeding Payment
Date. 
 (b) Interest on Overdue Amounts. If the Issuer shall default in the payment of (i) the Series 2011-1 Note
Principal Balance of any Series 2011-1 Notes on the Series 2011-1 Legal Final Payment Date, or (ii) the Series 2011-1 Note Interest Payment on any Series 2011-1 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 but not including 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 2011-1 Note exceed the maximum amount permitted by Applicable Law. If at any time the interest rate charged with respect to the Series 2011-1 Notes exceeds the maximum rate permitted by Applicable Law, the rate of interest to accrue pursuant
to this Supplement and such Series 2011-1 Note shall be limited to the maximum rate permitted by Applicable Law. If the total amount of interest paid or accrued on the Series 2011-1 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 2011-1 Noteholders an amount 

  
 7 

 
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 accrued in accordance with the other provisions of this Supplement. 

Section 204. Principal Payments on the Series 2011-1 Notes. The principal balance of the Series 2011-1 Notes shall be payable
on each Payment Date from amounts on deposit in the Series 2011-1 Series Account in an amount equal to (i) so long as no Early Amortization Event is continuing, the Minimum Principal Payment Amount and the Scheduled Principal Payment Amount for
such Payment Date or (ii) if an Early Amortization Event is then continuing, the then unpaid Aggregate Series 2011-1 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 2011-1 Note together with all unpaid interest (including all Default Interest), indemnifications, fees, expenses, costs and
other amounts payable by the Issuer to the Series 2011-1 Noteholders, the Indenture Trustee and any Interest Rate Hedge Provider 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 2011-1 Notes have been accelerated in accordance with the provisions of Section 802 of the Indenture and (y) the Series 2011-1 Legal Final Payment Date. 

Section 205. Prepayment of Principal on the Series 2011-1 Notes. 

(a) The Aggregate Series 2011-1 Note Principal Balance of the Series 2011-1 Notes shall be required to be prepaid at the time and in the
amounts set forth in Section 702(a) of the Indenture. In connection with any Prepayment made in accordance with this Section 205(a), the Issuer shall pay any termination, notional reduction, breakage or other fees or costs assessed
by any Interest Rate Hedge Provider. 
 (b) The Issuer will not be permitted to make a voluntary Prepayment of all, or any
portion of, the principal balance of the Series 2011-1 Notes prior to the Payment Date occurring in June 2013. Nothing contained herein shall prohibit any allocation to the Series 2011-1 Noteholders of Supplemental Principal Payment Amounts in
accordance with Section 702(a) of the Indenture on any Payment Date. On any Payment Date thereafter, the Issuer will have the option to prepay, without premium, on any Payment Date all, or a portion of, the Aggregate Series 2011-1 Note
Principal Balance, in a minimum amount of Two Hundred Fifty Thousand Dollars ($250,000), together with accrued interest thereon, to be applied to the Series 2011-1 Notes. The Issuer shall provide prior written notice of any Prepayment to the
Indenture Trustee and the Series 2011-1 Noteholders. Any such Prepayment of the Aggregate Series 2011-1 Note Principal Balance shall also include accrued interest to the date of Prepayment on the principal balance being prepaid. The Issuer may not
make such Prepayment from funds in the Trust Account, the Series 2011-1 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 of this
Supplement and the Indenture. In the event of any Prepayment of the Series 2011-1 Notes in accordance with this Section 205(b) or any provision of the Indenture, the Issuer shall simultaneously pay any termination, notional reduction,
breakage or other fees or costs assessed by any Interest Rate Hedge Provider. 

  
 8 

 (c) In the event that the Issuer makes a Prepayment in accordance with the provisions of
this Section 205 of less than the Aggregate Series 2011-1 Note Principal Balance, the Issuer shall promptly (but in any event within five (5) Business Days after the date on which such Prepayment is made) thereafter recalculate the
Minimum Targeted Principal Balance and Scheduled Targeted Principal Balance for each future Payment Date such that the Minimum Targeted Principal Balance and the Scheduled Targeted Principal Balance is reduced by an amount equal to the quotient of
(i) the aggregate amount of the Prepayment divided by (ii) the number of remaining Payment Dates to and including (A) the Series 2011-1 Legal Final Payment Date (in the case of the Minimum Targeted Principal Balance) and (B) the
Series 2011-1 Expected Final Payment Date (in the case of the Scheduled Targeted Principal Balance). In addition, if an Early Amortization Event has occurred and been subsequently cured and/or waived in accordance with the Series 2011-1 Related
Documents (the period between such occurrence and such cure or waiver being the “Accelerated Measurement Period”), the Minimum Targeted Principal Balance and Scheduled Targeted Principal Balance for each Payment Date following such
Accelerated Measurement Period shall be reduced, utilizing a similar methodology, by the amount of payments made pursuant to Section 303(II)(4) or 303(III)(2), as the case may be, during the Accelerated Measurement Period in
excess of the amounts that would have been paid pursuant to Sections 303(I)(2) and (3) were such Accelerated Measurement Period not to have occurred. 
 Section 206. Payments of Principal and Interest. All payments of principal and interest on the Series 2011-1 Notes shall be paid to the Series 2011-1 Noteholders reflected in the Note Register
as of the related Record Date 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 the Series 2011-1 Noteholders 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. 
 Section 207.
Restrictions on Transfer. (a) On the Closing Date, the Issuer shall sell the Series 2011-1 Notes to the Initial Purchasers pursuant to the Series 2011-1 Note Purchase Agreement and deliver such Series 2011-1 Notes in accordance herewith
and therewith. Thereafter, no Series 2011-1 Note may be sold, transferred or otherwise disposed of except in compliance with the provisions of the Indenture and except as follows: 

(i) to Persons that take delivery of such Series 2011-1 Note in an amount of at least $250,000 and that the transferring
Person reasonably believes are qualified institutional buyers as defined in Rule 144A (“Qualified Institutional Buyers”) in reliance on the exemption from the registration requirements of the Securities Act provided by Rule 144A
promulgated thereunder (“Rule 144A”); 
 (ii) to Permitted Non-U.S. Persons that take delivery
of such Series 2011-1 Note in an amount of at least $250,000; 

  
 9 

 (iii) to Institutional Accredited Investors that take delivery of such
Series 2011-1 Note in an amount of at least $250,000 and that deliver to the Indenture Trustee a letter substantially in the form of Exhibit E to this Supplement to the Indenture Trustee; or 

(iv) to a Person that is taking delivery of such Series 2011-1 Note in an amount of at least $250,000 and that is
otherwise exempt from the registration requirements of the Securities Act and from any applicable State law securities registration or qualification requirements, as confirmed in an Opinion of Counsel addressed to the Indenture Trustee and the
Issuer, which counsel and opinion are satisfactory to the Indenture Trustee and the Issuer. 
 The Indenture Trustee shall have no obligations
or duties with respect to determining whether any transfers of the Series 2011-1 Notes are made in accordance with the Securities Act or any other law; provided that with respect to Definitive Notes, the Indenture Trustee shall enforce such
transfer restrictions in accordance with the terms set forth in this Supplement. 
 (b) Each purchaser (other than any Initial
Purchaser) of the Series 2011-1 Notes (including any purchaser, other than any Initial Purchaser, of an interest in the Series 2011-1 Notes which are Book-Entry Notes) shall be deemed to have acknowledged and agreed as follows: 

(i) It is (A) Qualified Institutional Buyer and is acquiring such Series 2011-1 Notes for its own institutional
account or for the account or accounts of a Qualified Institutional Buyer or (B) purchasing such Series 2011-1 Notes in a transaction exempt from registration under the Securities Act and in compliance with the provisions of this Supplement and
in compliance with the legend set forth in Section 207(b)(v) below or (C) not a U.S. Person and is acquiring such Series 2011-1 Notes outside of the United States. 

(ii) It is purchasing one or more Series 2011-1 Notes in an amount of at least $250,000 and it understands that such
Series 2011-1 Notes may be resold, pledged or otherwise transferred only in an amount of at least $250,000. 

(iii) It represents and warrants to the Issuer, the Indenture Trustee, each Initial Purchaser, the Manager and any
successor Manager that (a) either (1) it is not, and is not acting on behalf of, a Plan or a governmental, church or non-U.S. plan which is subject to any federal, state, local, or non-U.S. law that is similar to the prohibited transaction
provisions of Section 406 of ERISA or Section 4975 of the Code, and no part of the assets to be used by it to purchase or hold the Series 2011-1 Notes or any interest therein constitutes the assets of any Plan or such a governmental,
church, or non-U.S. plan; or (2) (A) the acquisition, holding, and disposition of any Series 2011-1 Note will not give rise to a nonexempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code (or, in the
case of a governmental, church, or non-U.S. plan, a violation of any similar federal, state, local, or non-U.S. law) and (B) the Series 2011-1 Notes are rated 

  
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investment grade or better and such Person believes that the Series 2011-1 Notes are properly treated as indebtedness without substantial equity features for purposes of Section 2510.3-101
of the regulations issued by the U.S. Department of Labor, and agrees to so treat the Series 2011-1 Notes; and (b) it will not sell or otherwise transfer the Series 2011-1 Notes or any interest therein otherwise than to a purchaser or
transferee that represents and agrees with respect to its purchase, holding, and disposition of the Series 2011-1 Notes to the same effect as the purchaser’s representation and agreement set forth in this Section 207(b)(ii);

 (iv) It understands that the Series 2011-1 Notes are being transferred to it in a transaction not involving
any public offering within the meaning of the Securities Act, and that, if in the future it decides to resell, pledge or otherwise transfer any Series 2011-1 Notes, such Series 2011-1 Notes may be resold, pledged or transferred only in accordance
with applicable state securities laws and (1) in a transaction meeting the requirements of Rule 144A, to a Person that the seller reasonably believes is a Qualified Institutional Buyer that purchases for its own account (or for the account or
accounts of a Qualified Institutional Buyer) and to whom notice is given that the resale, pledge or transfer is being made in reliance on Rule 144A, or (2) (A) to a Person that is an Institutional Accredited Investor, is taking delivery of
such Series 2011-1 Notes in an amount of at least $250,000, and delivers to the Indenture Trustee a letter substantially in the form of Exhibit E to this Supplement or (B) to a Person that is taking delivery of such Series 2011-1 Notes
pursuant to a transaction that is otherwise exempt from the registration requirements of the Securities Act and from any applicable state law securities registration or qualification requirements, as confirmed in an Opinion of Counsel addressed to
the Indenture Trustee, the Issuer and the transferor, which counsel and Opinion are satisfactory to the Indenture Trustee, the Issuer and the transferor, or (3) in an offshore transaction in accordance with Rule 903 or 904 of Regulation S.

 (v) It understands that each Series 2011-1 Note shall bear a legend substantially to the following effect:

 [For Book-Entry Notes Only: UNLESS THIS SERIES 2011-1 NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE TRANSFEROR OF SUCH NOTE (THE “TRANSFEROR”) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SERIES 2011-1 NOTE ISSUED IS REGISTERED IN THE NAME OF
CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR
THE USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. ] 

  
 11 

 THIS SERIES 2011-1 NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”). THE HOLDER HEREOF, BY PURCHASING THIS SERIES 2011-1 NOTE, AGREES THAT SUCH SERIES 2011-1 NOTE MAY BE RESOLD, PLEDGED OR TRANSFERRED ONLY IN ACCORDANCE WITH ANY APPLICABLE STATE SECURITIES LAWS AND
(1) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON THAT TAKES DELIVERY OF SUCH SERIES 2011-1 NOTE IN AN AMOUNT OF AT LEAST $250,000 AND THAT THE SELLER REASONABLY BELIEVES IS
A QUALIFIED INSTITUTIONAL BUYER THAT PURCHASES FOR ITS OWN ACCOUNT (OR FOR THE ACCOUNT OR ACCOUNTS OF A QUALIFIED INSTITUTIONAL BUYER) AND TO WHOM NOTICE IS GIVEN THAT THE RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, OR
(2) IN AN OFFSHORE TRANSACTION COMPLYING WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT WITH SUCH SERIES 2011-1 NOTE IN AN AMOUNT OF AT LEAST $250,000 OR (3) TO A PERSON (A) THAT IS AN INSTITUTIONAL
“ACCREDITED INVESTOR,” WITHIN THE MEANING OF RULE 501(A)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, IS TAKING DELIVERY OF SUCH SERIES 2011-1 NOTE IN AN AMOUNT OF AT LEAST $250,000 AND DELIVERS TO THE INDENTURE
TRUSTEE A LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT E TO THE SUPPLEMENT OR (B) THAT IS TAKING DELIVERY OF SUCH SERIES 2011-1 NOTE IN AN AMOUNT OF AT LEAST $250,000 PURSUANT TO A TRANSACTION THAT IS OTHERWISE EXEMPT FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND FROM ANY APPLICABLE STATE LAW SECURITIES REGISTRATION OR QUALIFICATION REQUIREMENTS, AS CONFIRMED IN AN OPINION OF COUNSEL ADDRESSED TO THE INDENTURE TRUSTEE AND THE ISSUER, WHICH COUNSEL AND OPINION ARE
SATISFACTORY TO THE ISSUER AND THE INDENTURE TRUSTEE. 
 EACH PURCHASER OF A SERIES 2011-1 NOTE SHALL BE DEEMED TO
REPRESENT AND WARRANT TO EACH INITIAL PURCHASER, THE ISSUER, THE INDENTURE TRUSTEE AND THE MANAGER THAT EITHER (1) IT IS NOT ACQUIRING THE SERIES 2011-1 NOTE WITH THE ASSETS OF AN “EMPLOYEE BENEFIT PLAN” AS DEFINED IN SECTION 3(3) OF
ERISA OR A “PLAN” WITHIN THE MEANING OF SECTION 4975 OF THE CODE; OR (2) THE ACQUISITION AND HOLDING OF THE SERIES 2011-1 NOTE WILL NOT GIVE RISE TO A NONEXEMPT PROHIBITED TRANSACTION UNDER SECTION 406(a) OF ERISA OR SECTION 4975
OF THE CODE. 
 THIS SERIES 2011-1 NOTE IS NOT GUARANTEED OR INSURED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 (vi) Each Series 2011-1 Noteholder that is a Permitted Non-U.S. Person described in
Section 207(b)(i)(C) understands that the Series 2011-1 Notes have not and will not be registered under the Securities Act, that any offers, sales or deliveries of the Series 2011-1 Notes purchased by it in the United States or to U.S.
Persons prior to the date that is 40 days after the later of (i) the commencement of the distribution of the Series 2011-1 Notes and (ii) the Closing Date, may constitute a violation of United States law, and that distributions of
principal and interest will be made in respect of such Series 2011-1 Notes only following the delivery by the holder of a certification of non-U.S. beneficial ownership or the exchange of beneficial interest in Regulation S Temporary Book-Entry
Notes for beneficial interests in the related Unrestricted Book-Entry Notes (which in each case will itself require a certification of non-U.S. beneficial ownership), at the times and in the manner set forth in this Supplement. 

  
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 (vii) The Regulation S Temporary Book-Entry Notes representing the Series
2011-1 Notes sold to each Series 2011-1 Noteholder that is a Permitted Non-U.S. Person described in Section 207(b)(i)(C) will bear a legend to the following effect, unless the Issuer determines otherwise consistent with Applicable Law:

 [FOR REGULATION S BOOK-ENTRY NOTES ONLY: THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE LATER OF (I) THE COMPLETION OF THE DISTRIBUTION OF THE SERIES 2011-1 NOTES AND (II) THE CLOSING DATE, MAY NOT BE OFFERED, SOLD,
PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.] 

(viii) The Indenture Trustee shall not permit the transfer of any Series 2011-1 Notes unless such transfer complies with
the terms of the foregoing legends and, in the case of a transfer (i) to an Institutional Accredited Investor (other than a Qualified Institutional Buyer), the transferee delivers to the Indenture Trustee a letter substantially in the form of
Exhibit E to this Supplement, or (ii) to a Person other than a Qualified Institutional Buyer, an Institutional Accredited Investor or a Permitted Non-U.S. Person, upon delivery of an Opinion of Counsel satisfactory to the Indenture
Trustee and the applicable transferor, to the effect that the transferee is taking delivery of the Series 2011-1 Notes in a transaction that is otherwise exempt from the registration requirements of the Securities Act and from any applicable state
law securities registration or qualification requirements. 
 (c) The applicable transferor and transferee shall execute and
deliver, or in the case of a Note Owner, is deemed to have executed and delivered, to the Indenture Trustee documentation in substantially the forms of Exhibit(s) B through F, as appropriate, in connection with any transfer of Series
2011-1 Notes. 
 ARTICLE III 
 Series 2011-1 Series Account and 
 Allocation and Application of Amounts
Therein 
 Section 301. Series 2011-1 Series Account. The Indenture Trustee shall establish on or prior to the
Closing Date and maintain, so long as any Series 2011-1 Note is Outstanding, an Eligible Account which shall be designated as the Series 2011-1 Series Account, which account shall be held in the name of the Indenture Trustee (and with respect to any
investments in such account, in its capacity as Securities Intermediary of the Indenture Trustee) for the benefit of the Series 2011-1 Noteholders, and shall be maintained in the State of Minnesota. In furtherance of the Grant set forth in the
Indenture, the Issuer hereby Grants to the Indenture Trustee for the benefit of the Series 2011-1 Noteholders, among other things, a Lien on the Series 2011-1 Series Account. All deposits of funds by or for the benefit of the Series 2011-1
Noteholders from the Trust Account and the Restricted Cash Account shall be accumulated in, and withdrawn from, the Series 2011-1 Series Account in accordance with the provisions of the Indenture and this Supplement. 

  
 13 

 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 the funds on deposit in the Series
2011-1 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 2011-1 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 2011-1 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 2011-1 Series Account will not
be sufficient to make payment in full on the Series 2011-1 Legal Final Payment Date of the then Aggregate Series 2011-1 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 2011-1 Note Principal Balance, (x) the Permitted Principal Withdrawal, (y) the Maximum Principal
Withdrawal Amount, as calculated for Series 2011-1 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 2011-1 Note Interest Payment or the Aggregate Series 2011-1 Note Principal Balance, as the case may be. 

Section 303. Distributions from Series 2011-1 Series Account. On each Payment Date, the Indenture Trustee shall distribute
funds then on deposit in the Series 2011-1 Series Account in accordance with the provisions of Section 303(I), (II) or (III). 
 (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 2011-1 Note on the immediately preceding Record Date, an amount equal to its pro
rata portion of the Series 2011-1 Note Interest Payment for each such Payment Date; 
 (2) To each Holder of
a Series 2011-1 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 the Holders of a Series 2011-1 Note on such Payment Date; 

  
 14 

 (3) To each Holder of a Series 2011-1 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 the Holders of a Series 2011-1 Note on such Payment Date; 

(4) To each Holder of a Series 2011-1 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 the Holders of a Series 2011-1 Note on such Payment Date; 
 (5) To each Holder of a Series 2011-1 Note on the immediately preceding Record Date, pro rata (based on respective amounts due), an amount equal to all taxes, increased costs, indemnities and other
amounts (excluding Default Interest) then due and payable by the Issuer to the Series 2011-1 Noteholders pursuant to the Series 2011-1 Related Documents; and 
 (6) To each Series 2011-1 Noteholder on the immediately preceding Record Date, an amount equal to Default Interest (if any, including any interest on such interest) then due and payable pursuant to the
Series 2011-1 Related Documents; and 
 (7) To the Issuer, any remaining amounts then on deposit in the Series
2011-1 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 2011-1 Note on the immediately preceding Record Date, an amount equal to its pro rata portion of the Series 2011-1 Note Interest Payment for each such Payment Date; 

(2) To each Holder of a Series 2011-1 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 the Holders of a Series 2011-1 Note on such Payment Date; 
 (3) To each Holder of a Series 2011-1 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 the
Holders of a Series 2011-1 Note on such Payment Date; 
 (4) To each Holder of a Series 2011-1 Note on the
immediately preceding Record Date, an amount equal to its pro rata portion of the then Aggregate Series 2011-1 Note Principal Balance until the Aggregate Series 2011-1 Note Principal Balance has been reduced to zero; 

  
 15 

 (5) To each Holder of a Series 2011-1 Note on the immediately preceding
Record Date, pro rata (based on respective amounts due), an amount equal to all taxes, increased costs, indemnities and other amounts (including Default Interest) then due and payable by the Issuer to the Series 2011-1 Noteholders pursuant to
the Series 2011-1 Related Documents; and 
 (6) To the Issuer, any remaining amounts then on deposit in the
Series 2011-1 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 2011-1 Note on the immediately preceding Record Date an amount
equal to its pro rata portion of the Series 2011-1 Note Interest Payment then due and payable for such Payment Date; 
 (2) To each Holder of a Series 2011-1 Note on the immediately preceding Record Date on a pro rata basis, an amount equal to the Aggregate Series 2011-1 Note Principal Balance until the Aggregate
Series 2011-1 Note Principal Balance has been reduced to zero; 
 (3) To the following Persons on a pro
rata basis, to each Holder of a Series 2011-1 Note on the immediately preceding Record Date, an amount equal to all taxes, increased costs, indemnities and other amounts (including Default Interest); and 

(4) To the Issuer, any remaining amounts then on deposit in the Series 2011-1 Series Account. 

Any amounts payable to a Series 2011-1 Noteholder shall be made by wire transfer of immediately available funds to the account that such
Series 2011-1 Noteholder has designated to the Indenture Trustee in writing on or prior to the Business Day immediately preceding the Payment Date. 

  
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 ARTICLE IV 
 Additional Covenants 
 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 2011-1 Noteholders: 

Section 401. Rule 144A. So long as any of the Series 2011-1 Notes are “restricted securities” within the meaning of
Rule 144(a)(3) under the Securities Act, Issuer shall, unless it becomes subject to and complies with the reporting requirements of Section 13 or 15(d) of the Exchange Act, or rule 12g3-2(b) thereunder, (i) provide to any Series 2011-1
Noteholder of such restricted securities, or to any prospective Series 2011-1 Noteholder of such restricted securities designated by a Series 2011-1 Noteholder, upon the request of such Series 2011-1 Noteholder or prospective Series 2011-1
Noteholder, any information required to be provided by Rule 144A(d)(4) under the Securities Act and (ii) update such information to prevent such information from becoming materially false and materially misleading in a manner adverse to any
Series 2011-1 Noteholder. 
 Section 402. Use of Proceeds. The proceeds from the issuance of the Series 2011-1 Notes
shall be used as follows: (i) to pay the costs of issuance of the Series 2011-1 Notes and (ii) for other general corporate purposes, as contemplated in Section 624 of the Indenture. 

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. 

ARTICLE V 

Conditions to Issuance 
 Section 501. Conditions to Issuance. The Indenture Trustee shall not authenticate the Series 2011-1 Notes unless (i) all conditions to the issuance and purchase of the Series 2011-1 Notes
under the Series 2011-1 Note Purchase Agreement shall have been satisfied, and (ii) the Issuer shall have delivered a certificate to the Indenture Trustee to the effect that all conditions set forth in the Series 2011-1 Note Purchase Agreement
shall have been satisfied. 

  
 17 

 ARTICLE VI 
 Representations and Warranties 
 To induce the Series 2011-1 Noteholders to
purchase the Series 2011-1 Notes hereunder, the Issuer hereby represents and warrants as of the Closing Date to the Indenture Trustee for the benefit of the Series 2011-1 Noteholders that: 

Section 601. Existence. Issuer is a company duly organized, validly existing and in compliance under the laws of Bermuda.
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 affect the ability of the Indenture Trustee to enforce its security interest in the Collateral. 
 Section 602.
Authorization. Issuer has the power and is duly authorized to execute and deliver this Supplement and the other Series 2011-1 Related Documents to which it is a party; Issuer is and will continue to be duly authorized to borrow monies
hereunder; and Issuer is and will continue to be authorized to perform its obligations under this Supplement and under the other Series 2011-1 Related Documents. The execution, delivery and performance by Issuer of this Supplement and the other
Series 2011-1 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, shareholder or any other Person which has not already been obtained. 

Section 603. No Conflict; Legal Compliance. The execution, delivery and performance of this Supplement and each of the other
Series 2011-1 Related Documents and the execution, delivery and payment of the Series 2011-1 Notes will not: (a) contravene any provision of the Issuer’s bye-laws or memorandum of association; (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 2011-1
Related Documents, any other indenture or other loan or credit agreement, or other agreement or instrument to which Issuer is a party or by which 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 2011-1 Related Document to which Issuer is a
party, when duly executed and delivered, will be, the legal, valid and binding obligation of Issuer, enforceable against 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 December 31, 2010, there has been no Material Adverse Change in the financial condition of any of the Issuer, the Seller or the Manager.

  
 18 

 Section 606. Place of Business. The Issuer’s only “place of
business” (within the meaning of Section 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 Managed Containers described in Section 606(g) of the Indenture and Leases pursuant to Section 7.7
of the Management Agreement. 
 Section 607. No Agreements or Contracts. The Issuer is not a party to any contract
or agreement (whether written or oral) other than the Series 2005-1 Related Documents, the Series 2010-1 Related Documents (as each such term is defined in the Supplement for such Series), the Related Documents and the Members Agreement. 

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 2011-1 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 Governmental Authorities required to be obtained by Issuer in order to make or consummate the transactions contemplated under the Series 2011-1 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 2011-1 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 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. 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. 

  
 19 

 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
2011-1 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 2011-1 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. 
 (a) The capital of the Issuer is adequate for the business and undertakings of the Issuer. 

(b) Other than with respect to the transactions contemplated hereby and by the Series 2005-1 Related Documents, the Series 2010-1 Related
Documents, the Series 2011-1 Related Documents and the Related Documents, the Issuer is not engaged in any business transactions with the Seller or the Manager, except as permitted by the Management Agreement, the Contribution and Sale Agreement and
the Members Agreement. 
 (c) The bye-laws of the Issuer provide that the Issuer shall have four directors (three directors
appointed by Textainer Limited, and one director appointed by TCG Fund I, L.P.), unless increased to five directors under certain circumstances described in the bye-laws (the “Special Matters”), including, but not limited to, those
discussed below. In the event of a proposed resolution to institute voluntary Insolvency Proceedings on behalf of the Issuer, the bye-laws of the Issuer further provide that the number of directors is automatically increased to five, one of which
must be an independent director from the Director Services Provider elected by an affirmative vote of a majority of the directors. Such independent director shall participate solely in the vote on the relevant Special Matter and shall cease to be a
director immediately following such vote. No action can be taken to institute voluntary Insolvency Proceedings on behalf of the Issuer unless such action shall have been approved or authorized by (x) a resolution of the board of directors of
the Issuer for which at least ninety-nine percent (99%) of all directors (including the independent director) have voted in favor and (y) a resolution of the members of the Issuer representing at least ninety-nine percent (99%) of all
Class A Shares (as defined in the Issuer’s bye-laws) then issued and outstanding and Class B Shares (as defined in the Issuer’s bye-laws) and (z) a resolution of the members representing at least ninety-nine percent (99%) of
all Class C Shares (as defined in the Issuer’s bye-laws) then issued and outstanding. 
 (d) The Issuer’s funds and
assets are not, and will not be, commingled with those of the Seller or the Manager, except as permitted by the Management Agreement. 
 (e) 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. 

  
 20 

 (f) The Issuer is not insolvent under the Insolvency Law and will not be rendered insolvent
by the transactions contemplated by the Series 2011-1 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. Title; Liens. On the Closing Date, the Issuer will have good, legal, and marketable title to each of its
respective assets, and none of such assets is subject to any Lien, except for Permitted Encumbrances. 
 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. 
 Section 616. Subsidiaries. Issuer has 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 multi-employer 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 

  
 21 

 
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 has three classes of common shares issued and outstanding as of the Closing Date: the Class A Shares, the Class B Shares and the Class C Shares. The Class A Shares represent the only class of shares of the Issuer
with voting rights at all times and, as of the Closing Date, 12,000 Class A Shares are outstanding and are owned in the following amounts: 9,000 by Textainer Limited, a Bermuda company, and 3,000 by TCG Fund I, L.P. The Class B Shares do not
have voting rights (other than with respect to (i) the Special Matters (as defined in Section 612(c) and (ii) as required by law) and all of such Class B Shares are owned by Textainer Limited on the Closing Date. The Class C
Shares do not have voting rights (other than with respect to (i) the Special Matters and (ii) as required by law). On the Closing Date, all of the Class C Shares are owned by AMACAR Investments LLC, a Delaware limited liability company.

 Section 620. Security Interest Representations. 

(a) This Supplement and the Indenture create a valid and continuing security interest (as defined in the UCC) in the Collateral in favor
of the Indenture Trustee, for the benefit of the Series 2011-1 Noteholders and any Interest Rate Hedge Provider, which security interest is prior to all other Liens (other than Permitted Encumbrances), and is enforceable as such as against creditors
of and purchasers from the Issuer. 
 (b) The Managed Containers constitute “goods” or “inventory” within
the meaning of the applicable UCC. The Leases constitute “tangible chattel paper” within the meaning of the UCC. The lease receivables constitute “accounts” or “proceeds” of the Leases within the meaning of the UCC. The
Trust Account, the Restricted Cash Account and the Series 2011-1 Series Account constitute “securities accounts” within the meaning of the UCC. The Issuer’s contractual rights under any Interest Rate Hedge Agreements, the Contribution
and Sale Agreement and the Management Agreement constitute “general intangibles” within the meaning of the UCC. 
 (c)
The Issuer owns and has good and marketable title to the Collateral, free and clear of any Lien (whether senior, junior or pari passu), claim or encumbrance of any Person, except for Permitted Encumbrances. 

(d) The Issuer has caused the filing of all appropriate financing statements or documents of similar import in the proper filing office
in the appropriate jurisdictions under Applicable Law in order to perfect the security interest in the Collateral granted to the Indenture Trustee in this Supplement and the Indenture. All financing statements filed against the Issuer in favor of
the Indenture Trustee in connection herewith describing the Collateral contain a statement to the following effect: “A purchase of or security interest in any collateral described in this financing statement will violate the rights of the
Indenture Trustee.” 

  
 22 

 (e) Other than the security interest granted to the Indenture Trustee pursuant to this
Supplement and the Indenture, the Issuer has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Collateral, except as permitted pursuant to the Indenture. 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 Collateral other than any financing statement or document of similar import (i) relating to the security interest granted to the
Indenture Trustee in this Supplement or the Indenture or (ii) that has been terminated. The Issuer is not aware of any judgment or tax lien filings against the Issuer. 
 (f) The Issuer has received a written acknowledgment from the Manager that the Manager or an Affiliate thereof is holding the Leases, to the extent they relate to the Managed Containers, on behalf of, and
for the benefit of, the Indenture Trustee. None of the Leases that constitute or evidence the Collateral have any marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person. The Seller has caused the
filing of all appropriate financing statements or documents of similar import in the proper filing office in the appropriate jurisdictions under Applicable Law in order to perfect the security interest of the Issuer (and the Indenture Trustee as its
assignee) in the Leases (to the extent that such Leases relate to the Managed Containers) granted to the Issuer in the Contribution and Sale Agreement. 
 (g) The Issuer has received all necessary consents and approvals required by the terms of the Collateral to the pledge to the Indenture Trustee of its interest and rights in such Collateral hereunder or
under the Indenture. 
 (h) The Issuer has taken all steps necessary to cause Wells Fargo Bank, National Association (in its
capacity as securities intermediary) to identify in its records the Indenture Trustee as the Person having a Securities Entitlement in each of the Trust Account, the Restricted Cash Account and the Series 2011-1 Series Account. 

(i) The Trust Account, the Restricted Cash Account and Series 2011-1 Series Account are not in the name of any Person other than the
Indenture Trustee. The Issuer has not consented to Wells Fargo Bank, National Association (as the Securities Intermediary of the Trust Account, the Restricted Cash Account and the Series 2011-1 Series Account) entering into any agreement in which it
has agreed to comply with entitlement orders of any Person other than the Indenture Trustee. 
 (j) No creditor of the Issuer
(other than (x) with respect to the Managed Containers, the related Lessee and (y) the Manager in its capacity as Manager under the Management Agreement) has in its possession any goods that constitute or evidence the Collateral.

  
 23 

 Any breaches of the representations and warranties set forth in this Section 620 may be waived
by the Indenture Trustee, only with the prior written consent of the Control Party and with the prior satisfaction of the Rating Agency Condition. 
 Section 621. ERISA Lien. As of the Closing Date, the Issuer has not received notice that any Lien arising under ERISA has been filed against the assets of the Issuer. 

Section 622. Survival of Representations and Warranties. So long as any of the Series 2011-1 Notes shall be Outstanding, the
representations and warranties contained herein shall have a continuing effect as having been true when made. 
 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 of this Supplement by
facsimile or by electronic means shall be equally effective as of the delivery of an originally executed counterpart. 

Section 703. Governing Law. THIS SUPPLEMENT SHALL BE 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 LAWS 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 (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 

  
 24 

 
President - Asset Management, and (c) in the case of Rating Agency, at the following address: Standard & Poor’s Ratings Services, 55 Water Street, New York, NY 10041-0003, 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 Series 2011-1 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 Series 2011-1 Noteholder as shown in the Note Register or to the telephone and fax number furnished by
such Series 2011-1 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. Any rights to notices conveyed to a Rating Agency pursuant to the terms hereof with respect to any Series shall terminate immediately if such Rating Agency no longer has a rating outstanding with respect to such Series.

 Section 705. Amendments and Modifications. The terms of this Supplement 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 of any of the provisions of this Supplement shall be deemed a supplemental indenture subject to Sections 1001 or 1002 of the Indenture.

 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. 

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 2011-1 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 2011-1 Note or any legal or beneficial interest therein, each Series 2011-1 Noteholder and
each Note Owner, and each of such Person’s successors and assigns. 

  
 25 

 Section 709. Nonpetition Covenant. Each Series 2011-1 Noteholder by its
acquisition of a Series 2011-1 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 later of (a) the last date on which any Note of any Series was Outstanding and (b) the date on which all
amounts owing to each Series Enhancer pursuant to the terms of the related Insurance Agreements have been paid in full. 

Section 710. Recourse Against the Issuer. No recourse under or with respect to any obligation, covenant or agreement
(including, without limitation, the payment of any fees or any other obligations) of the Issuer as contained in this Supplement or any other agreement, instrument or document entered into by the Issuer pursuant hereto or in connection herewith shall
be had against any administrator of the Issuer or any incorporator, affiliate, shareholder, officer, employee, manager or director of the Issuer or of any such administrator, as such, by the enforcement of any assessment or by any legal or equitable
proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that the agreements of the Issuer contained in this Supplement and all of the other agreements, instruments and documents entered into by the Issuer pursuant
hereto or in connection herewith are, in each case, solely the corporate obligations of the Issuer, and that no personal liability whatsoever shall attach to or be incurred by any administrator of the Issuer or any incorporator, shareholder,
affiliate, officer, employee, manager or director of the Issuer or of any such administrator, as such, or any other of them, under or by reason of any of the obligations, covenants or agreements of the Issuer contained in this Supplement or in any
other such instruments, documents or agreements, or which are implied therefrom, and that any and all personal liability of every such administrator of the Issuer and each incorporator, shareholder, affiliate, officer, employee, manager or director
of the Issuer or of any such administrator, as such, or any of them, for breaches by the Issuer of any such obligations, covenants or agreements, which liability may arise either at common law or at equity, by statute or constitution, or otherwise,
is hereby expressly waived as a condition of and in consideration for the execution of this Supplement. The provisions of this Section 710 shall survive the termination of this Supplement. 

Section 711. Reports, Financial Statements and Other Information to Noteholders. The Indenture Trustee will make available
promptly upon receipt thereof to the Series 2011-1 Noteholders via the Indenture Trustee’s internet website at www.CTSLink.com the Equipment and Lease Report, the financial statements referred to in Section 7.2 of the Management
Agreement, the Manager’s Report, the Asset Base Report, and the annual insurance confirmation; provided, that, as a condition to access to the Indenture Trustee’s website, the Indenture Trustee shall require each such Series 2011-1
Noteholder to execute the Indenture Trustee’s standard form documentation, and upon such execution, each such Series 2011-1 Noteholder shall be deemed to have certified to the Indenture Trustee it (i) is a Series 2011-1 Noteholder,
(ii) understands that such items contain material nonpublic information (within the meaning of U.S. Federal Securities laws), (iii) is requesting the information solely for use in evaluating such party’s investment in the Series
2011-1 Notes and will keep such information strictly confidential (with such exceptions and restrictions to distribution of the information as are more fully set forth in the information request certification) and (iv) is not a Competitor.

  
 26 

 
Each time a Series 2011-1 Noteholder accesses the internet website, it will be deemed to have confirmed the representations and warranties made pursuant to the confirmation as of the date of such
access. The Indenture Trustee will provide the Issuer with copies of such information request certification. Assistance in using the Indenture Trustee’s website can be obtained by calling the Indenture Trustee’s customer service desk at
(866) 846-4526. 
 [Signature page follows.] 

  
 27 

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

			
	TEXTAINER MARINE CONTAINERS LIMITED
		
	By:	 	/S/ DUDLEY R. COTTINGHAM
		
	Name:	 	 
		
	Title:	 	SECRETARY

  

			
	WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Indenture Trustee
		
	By:	 	KRISTIN L. PUTTIN
		
	Name:	 	 
		
	Title:	 	VICE PRESIDENT

 SERIES 2011-1 SUPPLEMENT 

 EXHIBIT B 
 FORM OF 
 CERTIFICATE TO BE GIVEN BY NOTEHOLDER 

[Euroclear Bank S.A./N.V., as operator 
 of the
Euroclear Clearance System 
 1 Boulevard du Roi Albert II 
 B-1210 Brussels, Belgium] 
 [Clearstream Banking, société anonyme 

67 Boulevard Grand-Duchesse Charlotte 
 L-1331
Luxembourg] 
  

	 	Re:	Fixed Rate Asset Backed Notes (the “Offered Notes”) issued pursuant to the Series 2011-1 Supplement, dated as of June [__], 2011, between Textainer
Marine Containers Limited (the “Issuer”) and Wells Fargo Bank, National Association (the “Indenture Trustee”) to the Second Amended and Restated Indenture, dated as of May 26, 2005, between the Issuer and the
Indenture Trustee. 

 This is to certify that as of the date hereof, and except as set forth below, the beneficial
interest in the Offered Notes held by you for our account is owned by Persons that are not U.S. Persons (as defined in Rule 902 under the Securities Act of 1933, as amended). 
 The undersigned undertakes to advise you promptly by tested telex on or prior to the date on which you intend to submit your certification relating to the Offered Notes held by you in which the
undersigned has acquired, or intends to acquire, a beneficial interest in accordance with your operating procedures if any applicable statement herein is not correct on such date. In the absence of any such notification, it may be assumed that this
certification applies as of such date. 
 [This certification excepts beneficial interests in and does not relate to U.S.
$_________ principal amount of the Offered Notes appearing in your books as being held for our account but that we have sold or as to which we are not yet able to certify.] 
 We understand that this certification is required in connection with certain securities laws in the United States of America. If administrative or legal Proceedings are commenced or threatened in
connection with which this certification is or would be relevant, we irrevocably authorize you to produce this certification or a copy thereof to any interested party in such Proceedings. 

 

							
				
	Dated:*___________________	 		 	By:	 	 
		 		 		 	Account Holder

  

	*	Certification must be dated on or after the 15th day before the date of the Euroclear or Clearstream certificate to which this certification relates.

 EXHIBIT C 
 FORM OF 
 CERTIFICATE TO BE GIVEN BY EUROCLEAR OR CLEARSTREAM 

Wells Fargo Bank, National Association, 
 as
Indenture Trustee and Note Registrar 
 Sixth Street and Marquette Avenue 
 Minneapolis, Minnesota 55479 
 Attention: Corporate Trust Services/Asset-Backed Administrator

  

	 	Re:	Fixed Rate Asset Backed Notes (the “Offered Notes”) issued pursuant to the Series 2011-1 Supplement, dated as of June [__], 2011, between Textainer
Marine Containers Limited (the “Issuer”) and Wells Fargo Bank, National Association (the “Indenture Trustee”) to the Second Amended and Restated Indenture, dated as of May 26, 2005, between the Issuer and the
Indenture Trustee. 

 This is to certify that, based solely on certifications we have received in writing, by
tested telex or by electronic transmission from member organizations appearing in our records as Persons being entitled to a portion of the principal amount set forth below (our “Member Organizations”) as of the date hereof,
$__________ principal amount of the Offered Notes is owned by Persons (a) that are not U.S. Persons (as defined in Rule 902 under the Securities Act of 1933, as amended (the “Securities Act”), and used in Regulation S) or
(b) who purchased their Offered Notes (or interests therein) in a transaction or transactions that did not require registration under the Securities Act. 
 We further certify (a) that we are not making available herewith for exchange any portion of the related Regulation S Temporary Book-Entry Note excepted in such certifications and (b) that as of
the date hereof we have not received any notification from any of our Member Organizations to the effect that the statements made by them with respect to any portion of the part submitted herewith for exchange are no longer true and cannot be relied
upon as of the date hereof. 
 We understand that this certification is required in connection with certain securities laws of
the United States of America. If administrative or legal Proceedings are commenced or threatened in connection with which this certification is or would be relevant, we irrevocably authorize you to produce this certification or a copy hereof to any
interested party in such Proceedings. 
  

							
	Date:____________________	 		 	Yours faithfully,
				
		 		 	By:	 	 
		 		 	[Morgan Guaranty Trust Company of New York, Brussels Office, as Operator of the Euroclear Clearance System] [Clearstream Banking, société
anonyme]

 EXHIBIT D 
 FORM OF 
 CERTIFICATE TO BE GIVEN BY TRANSFEREE OF BENEFICIAL INTEREST IN A

 REGULATION S TEMPORARY BOOK-ENTRY NOTE 
 [Euroclear Bank S.A./N.V., as operator 
 of the Euroclear Clearance System 

1 Boulevard du Roi Albert II 
 B-1210 Brussels,
Belgium] 
 [Clearstream Banking, société anonyme 
 67 Boulevard Grand-Duchesse Charlotte 
 L-1331 Luxembourg] 

 

	 	Re:	Fixed Rate Asset Backed Notes (the “Offered Notes”) issued pursuant to the Series 2011-1 Supplement, dated as of June [__], 2011, between Textainer
Marine Containers Limited (the “Issuer”) and Wells Fargo Bank, National Association (the “Indenture Trustee”) to the Second Amended and Restated Indenture, dated as of May 26, 2005, between the Issuer and the
Indenture Trustee. 

 This is to certify that as of the date hereof, and except as set forth below, for purposes
of acquiring a beneficial interest in the Offered Notes, the undersigned certifies that it is not a U.S. Person (as defined in Rule 902 under the Securities Act of 1933, as amended, and used in Regulation S). 

The undersigned undertakes to advise you promptly by tested telex on or prior to the date on which you intend to submit your
certification relating to the Offered Notes held by you in which the undersigned intends to acquire a beneficial interest in accordance with your operating procedures if any applicable statement herein is not correct on such date. In the absence of
any such notification, it may be assumed that this certification applies as of such date. 
 We understand that this
certification is required in connection with certain securities laws in the United States of America. If administrative or legal Proceedings are commenced or threatened in connection with which this certification is or would be relevant, we
irrevocably authorize you to produce this certification or a copy thereof to any interested party in such Proceedings. 
  

							
	Dated:	 		 	By:	 	

 EXHIBIT E 
 FORM OF 
 TRANSFER CERTIFICATE FOR EXCHANGE OR 

TRANSFER FROM 144A BOOK-ENTRY NOTE 
 TO REGULATION S BOOK-ENTRY NOTE 
 Wells Fargo Bank, National Association, 

as Indenture Trustee and Note Registrar 
 Sixth
Street and Marquette Avenue 
 Minneapolis, Minnesota 55479 
 Attention: Corporate Trust Services/Asset-Backed Administrator 
  

	 	Re:	Fixed Rate Asset Backed Notes (the “Offered Notes”) issued pursuant to the Series 2011-1 Supplement, dated as of June [__], 2011, between Textainer
Marine Containers Limited (the “Issuer”) and Wells Fargo Bank, National Association (the “Indenture Trustee”) to the Second Amended and Restated Indenture, dated as of May 26, 2005, between the Issuer and the
Indenture Trustee. 

 Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture.

 This letter relates to U.S. $___________ principal amount of Offered Notes that are held as a beneficial interest in the 144A Book-Entry Note
(CUSIP No. [    ]) with DTC in the name of [insert name of transferor] (the “Transferor”). The Transferor has requested an exchange or transfer of the beneficial interest for an interest in the Regulation S
Book-Entry Note (CUSIP No. [    ]) to be held with [Euroclear] [Clearstream] through DTC. 
 In connection with the request
and in receipt of the Offered Notes, the Transferor does hereby certify that the exchange or transfer has been effected in accordance with the transfer restrictions set forth in the Indenture and the Offered Notes and: 

(a) pursuant to and in accordance with Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), and accordingly
the Transferor does hereby certify that: 
 (i) the offer of the Offered Notes was not made to a Person in the United States of
America, 
 (ii) either (A) at the time the buy order was originated, the transferee was outside the United States of
America or the Transferor and any Person acting on its behalf reasonably believed that the transferee was outside the United States of America, or (B) the transaction was executed in, on or through the facilities of a designated offshore
securities market and neither the Transferor nor any Person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States of America, 
 (iii) no directed selling efforts have been made in contravention of the requirements of Rule 903 or 904 of Regulation S, as applicable, and the other conditions of Rule 903 or Rule 904 of Regulation S,
as applicable, have been satisfied and 

  
 E-1

 (iv) the transaction is not part of a plan or scheme to evade the registration requirements
of the Securities Act, and 
 (b) with respect to transfers made in reliance on Rule 144A under the Securities Act, the Transferor does hereby
certify that the Notes are being transferred in a transaction permitted by Rule 144A under the Securities Act. 
 This certification and the
statements contained herein are made for your benefit and the benefit of the Issuer and Wells Fargo Securities, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as the Initial Purchasers. 

 

							
		 		 	[Insert name of Transferor]
				
	Dated:	 		 	By:	 	 
		 		 	Title:	 	

  
 E-2

 EXHIBIT F 
 FORM OF 
 INITIAL PURCHASER EXCHANGE INSTRUCTIONS 

Depository Trust Company 
 55 Water Street

 50th Floor 
 New York, New York 10041

  

	 	Re:	$__________ of the Fixed Rate Asset Backed Notes, Series 2011-1 (the “Notes”) issued pursuant to the Series 2011-1 Supplement, dated as of June [__],
2011, between Textainer Marine Containers Limited (the “Issuer”) and Wells Fargo Bank, National Association (the “Indenture Trustee”) to the Second Amended and Restated Indenture, dated as of May 26, 2005,
between the Issuer and the Indenture Trustee. 

 Pursuant to Section 207 of the Series 2011-1 Supplement,
[Wells Fargo Securities, LLC, an indirect, wholly-owned subsidiary of Wells Fargo Corporation] [Merrill Lynch, Pierce, Fenner & Smith Incorporated], an indirect, wholly-owned subsidiary of Bank of America, N.A.] (collectively, the
“Initial Purchasers”), hereby requests that $____________ aggregate principal amount of the Notes held by you for our account and represented by the Regulation S Temporary Book-Entry Note (CUSIP No. [    ]) (as
defined in the Series 2011-1 Supplement) be exchanged for an equal principal amount represented by the 144A Book-Entry Note (CUSIP No.
[                    ]) to be held by you for our account. 
  

							
	Dated:	 		 	[Wells Fargo Securities, LLC] [Merrill Lynch, Pierce, Fenner & Smith Incorporated], as Initial Purchaser
				
		 		 	By:	 	 
		 		 	Title:Credit Agreement, dated August 5, 2011

 EXHIBIT 4.27 

CREDIT AGREEMENT 

Dated as of August 5, 2011 
 Among 
 TW CONTAINER LEASING, LTD., 

as Borrower, 
 THE
LENDERS FROM TIME TO TIME PARTY HERETO, 
 as Lenders, 
 and 
 WELLS FARGO SECURITIES LLC, 

as Administrative Agent 

 TABLE OF CONTENTS 

 

													
	 	 	  	 	  	Page	 
	 	1.	  	  	 	DEFINITIONS AND RULES OF INTERPRETATION	  	 	1	  
				  	 	1.1	  	  	Definitions	  	 	1	  
				  	 	1.2	  	  	Rules of Interpretation	  	 	24	  
				  	 	1.3	  	  	Use of Defined Terms	  	 	25	  
				  	 	1.4	  	  	Accounting and Financial Determinations	  	 	25	  
			
	 	2.	  	  	 	COMMITMENTS OF LENDER	  	 	26	  
				  	 	2.1	  	  	Commitments to Make Loans	  	 	26	  
				  	 	2.2	  	  	Requests for Loan	  	 	26	  
				  	 	2.3	  	  	Evidence of Loan	  	 	26	  
				  	 	2.4	  	  	Termination or Reduction of Commitments	  	 	26	  
				  	 	2.5	  	  	Funding by Lenders; Presumption by Administrative Agent	  	 	27	  
				  	 	2.6	  	  	Failure to Satisfy Conditions Precedent	  	 	27	  
				  	 	2.7	  	  	Obligations of Lenders Several	  	 	27	  
				  	 	2.8	  	  	Revolving Credit Facility	  	 	27	  
			
	 	3.	  	  	 	TRUST ACCOUNT; CASH RESERVE ACCOUNT	  	 	27	  
				  	 	3.1	  	  	Trust Account	  	 	27	  
				  	 	3.2	  	  	Disbursement of Funds From Trust Account	  	 	28	  
				  	 	3.3	  	  	Cash Reserve Account	  	 	30	  
				  	 	3.4	  	  	Investments	  	 	31	  
				  	 	3.5	  	  	Expense Payment Account	  	 	31	  
				  	 	3.6	  	  	TWCL Distribution Account	  	 	31	  
			
	 	4.	  	  	 	PROVISIONS APPLICABLE TO ALL LOANS	  	 	32	  
				  	 	4.1	  	  	Interest on Loans	  	 	32	  
				  	 	4.2	  	  	Repayments and Prepayments of the Loans	  	 	32	  
				  	 	4.3	  	  	Payments by Borrower; Presumptions by Administrative Agent	  	 	33	  
				  	 	4.4	  	  	Sharing of Payments by Lenders	  	 	33	  
				  	 	4.5	  	  	Funding Source	  	 	33	  
			
	 	5.	  	  	 	CERTAIN GENERAL PROVISIONS	  	 	34	  
				  	 	5.1	  	  	Fees	  	 	34	  
				  	 	5.2	  	  	Funds for Payments	  	 	34	  
				  	 	5.3	  	  	Computations	  	 	35	  
				  	 	5.4	  	  	Inability to Determine LIBOR Rate	  	 	36	  
				  	 	5.5	  	  	Illegality	  	 	36	  
				  	 	5.6	  	  	Additional Costs; Capital Adequacy	  	 	36	  
				  	 	5.7	  	  	Indemnity	  	 	37	  
				  	 	5.8	  	  	Interest After Default	  	 	37	  
	 	6.	  	  	 	COLLATERAL SECURITY	  	 	37	  
				  	 	6.1	  	  	Security of Borrower	  	 	37	  
			
	 	7.	  	  	 	REPRESENTATIONS AND WARRANTIES	  	 	38	  
				  	 	7.1	  	  	Company Status	  	 	38	  
				  	 	7.2	  	  	Company Power and Authority	  	 	38	  
				  	 	7.3	  	  	No Violation	  	 	38	  
				  	 	7.4	  	  	Litigation	  	 	38	  

  
 -i-

 TABLE OF CONTENTS 

(continued) 
  

													
	 	 	  	 	  	Page	 
				  	 	7.5  	  	  	Margin Regulations	  	 	38	  
				  	 	7.6  	  	  	Governmental Approvals	  	 	39	  
				  	 	7.7  	  	  	Investment Company Act	  	 	39	  
				  	 	7.8  	  	  	Activities of Borrower	  	 	39	  
				  	 	7.9  	  	  	True and Complete Disclosure	  	 	39	  
				  	 	7.10	  	  	Solvency	  	 	39	  
				  	 	7.11	  	  	Security Interests	  	 	39	  
				  	 	7.12	  	  	ERISA	  	 	40	  
				  	 	7.13	  	  	Subsidiaries	  	 	40	  
				  	 	7.14	  	  	Compliance with Statutes; Agreements, etc	  	 	40	  
				  	 	7.15	  	  	Environmental Matters	  	 	40	  
				  	 	7.16	  	  	Labor Relations	  	 	40	  
				  	 	7.17	  	  	Tax Returns and Payments	  	 	41	  
				  	 	7.18	  	  	Existing Indebtedness	  	 	41	  
				  	 	7.19	  	  	Insurance	  	 	41	  
				  	 	7.20	  	  	OFAC Sanctions	  	 	41	  
				  	 	7.21	  	  	No Default	  	 	41	  
				  	 	7.22	  	  	Use of Proceeds	  	 	41	  
				  	 	7.23	  	  	Place of Business	  	 	41	  
				  	 	7.24	  	  	Bank Accounts	  	 	41	  
				  	 	7.25	  	  	Tax Election of the Borrower	  	 	41	  
				  	 	7.26	  	  	OFAC Compliance	  	 	41	  
			
	 	8.	  	  	 	AFFIRMATIVE COVENANTS	  	 	42	  
				  	 	8.1  	  	  	Information Covenants	  	 	42	  
				  	 	8.2  	  	  	Books, Records and Inspections	  	 	43	  
				  	 	8.3  	  	  	Maintenance of Office	  	 	43	  
				  	 	8.4  	  	  	Payment of Taxes	  	 	43	  
				  	 	8.5  	  	  	Existence; Franchises	  	 	43	  
				  	 	8.6  	  	  	Compliance with Statutes; etc	  	 	44	  
				  	 	8.7  	  	  	End of Fiscal Years; Fiscal Quarters	  	 	44	  
				  	 	8.8  	  	  	Further Assurances	  	 	44	  
				  	 	8.9  	  	  	Performance of Obligations	  	 	44	  
				  	 	8.10	  	  	Maintenance of Owner Containers	  	 	44	  
				  	 	8.11	  	  	Insurance	  	 	44	  
				  	 	8.12	  	  	Interest Rate Hedging Agreements	  	 	44	  
				  	 	8.13	  	  	UNIDROIT Convention	  	 	45	  
				  	 	8.14	  	  	Compliance with United States Laws	  	 	45	  
				  	 	8.15	  	  	Non-Consolidation of the Borrower	  	 	45	  
				  	 	8.16	  	  	Finance Lease Payments	  	 	46	  
			
	 	9.	  	  	 	NEGATIVE COVENANTS	  	 	46	  
				  	 	9.1  	  	  	Restrictions on Indebtedness	  	 	46	  
				  	 	9.2  	  	  	Restrictions on Liens	  	 	46	  
				  	 	9.3  	  	  	Restrictions on Investments	  	 	47	  
				  	 	9.4  	  	  	Restricted Payments	  	 	47	  
				  	 	9.5  	  	  	Merger, Consolidation and Disposition of Assets	  	 	47	  
				  	 	9.6  	  	  	Sale and Leaseback	  	 	48	  
				  	 	9.7  	  	  	Compliance with Environmental Laws	  	 	48	  
				  	 	9.8  	  	  	Employee Benefit Plans	  	 	48	  
				  	 	9.9  	  	  	Fiscal Year	  	 	48	  
				  	 	9.10	  	  	Transactions with Affiliates	  	 	48	  

  
 -ii-

 TABLE OF CONTENTS 

(continued) 
  

													
	 	 	  	 	  	Page	 
				  	 	9.11  	  	  	Other Agreements	  	 	48	  
				  	 	9.12  	  	  	Charter Documents	  	 	49	  
				  	 	9.13  	  	  	Capital Expenditures	  	 	49	  
				  	 	9.14  	  	  	Permitted Activities; Compliance with Organizational Documents	  	 	49	  
				  	 	9.15  	  	  	Subsidiaries	  	 	49	  
				  	 	9.16  	  	  	OFAC	  	 	49	  
				  	 	9.17  	  	  	No Termination, Waivers or Amendments to Management Agreement	  	 	49	  
				  	 	9.18  	  	  	Payables for Owner Containers	  	 	49	  
				  	 	9.19  	  	  	Bank Accounts	  	 	49	  
			
	 	10.	  	  	 	CLOSING CONDITIONS	  	 	49	  
				  	 	10.1  	  	  	Execution of Loan Documents	  	 	50	  
				  	 	10.2  	  	  	Officer’s Certificate	  	 	50	  
				  	 	10.3  	  	  	Opinions of Counsel	  	 	50	  
				  	 	10.4  	  	  	Company Documents; Proceedings	  	 	50	  
				  	 	10.5  	  	  	Approvals	  	 	50	  
				  	 	10.6  	  	  	Lien Filings	  	 	51	  
				  	 	10.7  	  	  	Insurance Certificates; etc	  	 	51	  
				  	 	10.8  	  	  	Payment of Fees	  	 	51	  
			
	 	11.	  	  	 	CONDITIONS PRECEDENT TO ALL LOANS	  	 	51	  
				  	 	11.1  	  	  	Closing Date and Revolving Credit Period	  	 	51	  
				  	 	11.2  	  	  	No Default or Event of Default; Representations and Warranties	  	 	51	  
				  	 	11.3  	  	  	Loan Request	  	 	52	  
				  	 	11.4  	  	  	Finance Leases	  	 	52	  
				  	 	11.5  	  	  	Early Amortization Event	  	 	52	  
				  	 	11.6  	  	  	No Asset Base Deficiency	  	 	52	  
				  	 	11.7  	  	  	Bankruptcy Opinions	  	 	52	  
				  	 	11.8  	  	  	Cash Reserve Amount	  	 	52	  
				  	 	11.9  	  	  	Control Agreement; Perfection Opinion	  	 	52	  
			
	 	12.	  	  	 	EVENTS OF DEFAULT; ACCELERATION; ETC	  	 	53	  
				  	 	12.1  	  	  	Events of Default and Acceleration	  	 	53	  
				  	 	12.2  	  	  	Remedies	  	 	54	  
				  	 	12.3  	  	  	Distribution of Collateral Proceeds	  	 	55	  
				  	 	12.4  	  	  	Quiet Enjoyment	  	 	55	  
			
	 	13.	  	  	 	ADMINISTRATIVE AGENT	  	 	56	  
				  	 	13.1  	  	  	Appointment and Authority	  	 	56	  
				  	 	13.2  	  	  	Rights as a Lender	  	 	56	  
				  	 	13.3  	  	  	Exculpatory Provisions	  	 	56	  
				  	 	13.4  	  	  	Reliance by Administrative Agent	  	 	57	  
				  	 	13.5  	  	  	Delegation of Duties	  	 	57	  
				  	 	13.6  	  	  	Resignation of Administrative Agent	  	 	57	  
				  	 	13.7  	  	  	Non-Reliance on Administrative Agent and Other Lenders	  	 	58	  
				  	 	13.8  	  	  	Administrative Agent May File Proofs of Claim	  	 	58	  
				  	 	13.9  	  	  	Collateral Matters	  	 	59	  
				  	 	13.10	  	  	Delivery of Documents	  	 	59	  
			
	 	14.	  	  	 	SUCCESSORS AND ASSIGNS	  	 	59	  
				  	 	14.1	  	  	General Conditions	  	 	59	  

  
 -iii-

 TABLE OF CONTENTS 

(continued) 
  

											
	 	  	 	  	Page	 
		  	 	14.2	  	  	Assignments	  	 	60	  
		  	 	14.3	  	  	Register	  	 	60	  
		  	 	14.4	  	  	Participations	  	 	60	  
		  	 	14.5	  	  	Certain Pledges	  	 	61	  
			
	15.	  	 	PROVISIONS OF GENERAL APPLICATIONS	  	 	61	  
		  	 	15.1	  	  	Setoff	  	 	61	  
		  	 	15.2	  	  	Expenses	  	 	61	  
		  	 	15.3	  	  	Indemnification	  	 	62	  
		  	 	15.4	  	  	Treatment of Certain Confidential Information	  	 	62	  
		  	 	15.5	  	  	Survival of Covenants, etc	  	 	63	  
		  	 	15.6	  	  	Notices	  	 	63	  
		  	 	15.7	  	  	Governing Law; Jurisdiction	  	 	64	  
		  	 	15.8	  	  	Headings	  	 	64	  
		  	 	15.9	  	  	Counterparts	  	 	64	  
		  	 	15.10	  	  	Entire Agreement, etc	  	 	64	  
		  	 	15.11	  	  	Waiver of Jury Trial	  	 	64	  
		  	 	15.12	  	  	Consents, Amendments, Waivers, Etc	  	 	64	  
		  	 	15.13	  	  	Defaulting Lenders	  	 	66	  
		  	 	15.14	  	  	Replacement of Lenders	  	 	67	  
		  	 	15.15	  	  	Severability	  	 	68	  
		  	 	15.16	  	  	USA Patriot Act	  	 	68	  
		  	 	15.17	  	  	Third Party Beneficiary	  	 	68	  
		  	 	15.18	  	  	Relationship of Administrative Agent and Borrower	  	 	68	  

  

			
	 Exhibits
	  	
	Exhibit A	  	 Form of Assignment and Acceptance

	 Exhibit B
	  	Form of Management Agreement
	 Exhibit C
	  	Form of Security Agreement
	 Exhibit D
	  	Form of Loan Request
	 Exhibit E
	  	Form of Promissory Note
	 Exhibit F
	  	Approved Lease Form
		
	Schedules	  	
	 Schedule 1
	  	Funding Commitments of Lenders
	 Schedule 2
	  	Credit Underwriting Information
	 Schedule 3
	  	[Reserved]
	 Schedule 4
	  	Lessee Concentration Limits
	 Schedule 5
	  	Permissible Equipment Types and Concentration Limits
	 Schedule 7.19
	  	Insurance Maintained by Borrower
	 Schedule 7.24
	  	Listing of Bank Accounts

  
 -iv-

 CREDIT AGREEMENT 

This CREDIT AGREEMENT is made as of August 5, 2011, by and among TW CONTAINER LEASING, LTD., an exempted company with limited
liability organized under the laws of Bermuda (together with its successors and permitted assigns, the “Borrower”), each lender from time to time party hereto (collectively, the “Lenders” and individually, a
“Lender”), and WELLS FARGO SECURITIES, LLC, a limited liability company organized under the laws of the State of Delaware, as administrative agent for the Lenders (together with its successors and permitted assigns, the
“Administrative Agent”). 
 RECITALS: 

WHEREAS, subject to and upon the terms and conditions set forth herein, the Lenders are willing to make available to the Borrower the
credit facility provided for herein; and 
 WHEREAS, the Borrower shall use the proceeds of the credit facility provided for
herein in order to purchase one or more portfolios of Eligible Finance Leases; 
 NOW, THEREFORE, in consideration of the
foregoing, the mutual covenants and agreements set forth herein below, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

 

	1.	DEFINITIONS AND RULES OF INTERPRETATION 

1.1 Definitions . The following terms shall have the meanings set forth in this Section 1.1 or elsewhere in the provisions of
this Credit Agreement referred to below: 
 “Acquisition Fee”. As defined in the Management Agreement.

 “Administrative Agent”. As defined in the caption to this Credit Agreement. 

“Administrative Agent Fee”. This term shall have the meaning set forth in the Administrative Agent Fee Letter.

 “Administrative Agent Fee Letter”. The Administrative Agent Fee Letter, dated as of the date hereof, between
the Borrower and the Administrative Agent. 
 “Administrative Agent’s Office”. The Administrative
Agent’s office located at 301 South College Street, MAC 010153-082, Charlotte, North Carolina 28288, or at such other location as the Administrative Agent may designate from time to time. 

“Administrative Questionnaire”. An administrative questionnaire in a form supplied by the Administrative Agent.

 “Advance Rate”. As follows: 

(a) for each Eligible Finance Lease, eighty five percent (85%); or 

(b) for each Eligible Owner Container, eighty percent (80%). 

“Affiliate”. With respect to any Person, another Person that directly, or indirectly through one or more intermediaries,
Controls or is Controlled by or is under common Control with the Person specified. 
 “Aggregate Commitments”.
An amount equal to the sum of the Commitments of all the Lenders. 

 “Aggregate Loan Principal Balance”. As of any date of determination, an
amount equal to the sum of the then unpaid principal balance of all Loans. 
 “Aggregate Net Book Value”. As of
any date of determination, an amount equal to the sum of the Net Book Values of all Eligible Owner Containers that are not then subject to a Finance Lease. 
 “Aggregate Net Investment Value”. As of any date of determination, an amount equal to the sum of the then Net Investment Values of all Eligible Finance Leases then in effect. 

“Aggregate Original Equipment Cost”. As of any date of determination, an amount equal to the sum of the Original
Equipment Cost of all Owner Containers then owned by the Borrower including Owner Containers then subject to a Finance Lease. 

“Applicable Margin”. With respect to each Loan for each Interest Period, one of the following: 

(a) if (i) no Early Amortization Event is then continuing, or (ii) an Early Amortization Event of the type set forth in
clause (f) or clause (g) of the definition of the term “Early Amortization Event” is then continuing, two and three-quarters of one percent (2.75%) per annum; and 

(b) at all times not covered by clause (a), three and three quarters of one percent (3.75%); 

provided that, for purposes of this definition, each Early Amortization Event shall be deemed to be no longer continuing on the date on
which the condition giving rise to such Early Amortization Event is no longer continuing and regardless of the absence of any waiver thereof). 
 Notwithstanding the foregoing, after the expiration or termination of the Revolving Credit Period, the Administrative Agent, acting at the direction of the Majority Lenders, shall, upon prior notice to
the Borrower, have the right, exercisable on one or more occasions during the term of this Credit Agreement, to increase the Applicable Margin in order to reflect the current market pricing (as determined by the Majority Lenders) based on then
existing market conditions for comparable transactions; provided, however, that the Applicable Margin shall not increase by more than one and one half of one percent (1.50%) above the Applicable Margin that would otherwise be in effect without
giving effect to this clause. Thereafter, the Applicable Margin shall be equal to such increased Applicable Margin 

“Applicable Pension Legislation”. At any time, any pension or retirement benefits legislation (be it national, federal,
provincial, territorial or otherwise) then applicable to the Borrower. 
 “Approved Fund”. Any Fund that is
administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages an Lender; provided, however, that the Borrower shall not constitute an Approved
Fund. 
 “Approved Lease Form”. A lease in the form attached as Exhibit F hereto. 

“Asset Base”. As of any date of determination, an amount equal to the sum (without duplication) of the following:

 (a) the product of (i) the Advance Rate for Eligible Finance Leases (and the Owner Containers subject
thereto), and (ii) an amount equal to the Aggregate Net Investment Value (measured as of such date of determination); plus 
 (b) subject to clause (2) of the next paragraph, the product of (i) the Advance Rate for Eligible Owner Containers, and (ii) the Aggregate Net Book Value (measured as of such date of
determination); plus 

  
 -2-

 (c) an amount equal to the cash and Eligible Investments then on deposit in
the Cash Reserve Account. 
 For purposes of the foregoing calculation, the following guidelines shall apply: 

(1) In connection with each calculation of the Asset Base, a specific Lease and a specific Owner Container may be included
in only clause (a) or clause (b) but not both; and 
 (2) A Repossessed Owner Container
will be included in clause (b) of the above-referenced calculation of Asset Base only once the Borrower (or the Manager on behalf of the Borrower) obtains possession of such Repossessed Owner Container. 

“Asset Base Deficiency”. As of any Payment Date, the condition that exists if (i) the Aggregate Loan Principal
Balance (calculated after giving effect to all principal payments to be paid on such Payment Date) exceeds (ii) the Asset Base. If such term is used in a quantitative context, the amount of the Asset Base Deficiency shall be equal to the amount
of such excess. 
 “Asset Base Report”. As defined in the Management Agreement. 

“Assignment and Acceptance”. An assignment and assumption entered into by a Lender and an Eligible Assignee (with the
consent of any party whose consent is required by Section 14.2), and accepted by the Administrative Agent (acting at the direction of the Majority Lenders), in substantially the form of Exhibit A or any other form approved by the
Administrative Agent (acting at the direction of the Majority Lenders). 
 “Authorized Officer”. With respect
to (i) delivering Loan Requests and similar notices, any person or persons that has or have been authorized by the Board of Directors of the Borrower to deliver such notices pursuant to this Credit Agreement and that has or have appropriate
signature cards on file with the Administrative Agent, (ii) delivering financial information and officer’s certificates pursuant to this Credit Agreement, any Senior Designated Officer of the Borrower, and (iii) any other matter in
connection with this Credit Agreement or any other Loan Document, any officer (or a person or persons so designated by any two officers) of the Borrower. 
 “Available Distribution Amount”. With respect to any Payment Date, means the sum (without duplication) of (i) all cash collected and applied by, or on behalf of, the Borrower in
respect of all Owner Containers and all Leases of Owner Containers, minus any allocated Operating Expenses in respect of such Owner Containers and Leases (such difference, “Collections”) received during the most recently ended
Collection Period, less the amount of the Manager Fee and the Manager Fee Arrearage (if any) deducted by Manager prior to deposit of Collections into the Trust Account in accordance with this Agreement and the Management Agreement for the most
recently ended Collection Period, (ii) all amounts received by the Borrower during the most recently ended Collection Period pursuant to any Interest Rate Hedging Agreement, (iii) the amount of all Manager Advances for such Payment Date,
(iv) any earnings on Eligible Investments in the Trust Account, to the extent that such earnings were credited to such account during the most recently ended Collection Period, (v) any amounts transferred from the Cash Reserve Account, and
(vi) other payments required by the Loan Documents to be deposited in the Trust Account. 
 “Bankruptcy
Event”. For any Person, any of the following events: 
 (a) a case or other proceeding shall be
commenced, without the application or consent of such Person, in any court, seeking the liquidation, reorganization, debt arrangement, dissolution, winding up or composition or readjustment of debts of such Person, the appointment of a trustee,
receiver, custodian, liquidator, assignee, sequestrator or the like for such Person or any substantial part of its assets, or any similar action with respect to such Person under any law relating to bankruptcy, insolvency, reorganization, winding up
or composition or adjustment of 

  
 -3-

 
debts, and such case or proceeding shall continue undismissed, or unstayed and in effect, for a period of 60 days; or an order for relief in respect of such Person shall be entered in an
involuntary case under the federal bankruptcy laws or other similar laws now or hereafter in effect; or 
 (b)
such Person shall commence a voluntary case or other proceeding under any applicable bankruptcy, insolvency, reorganization, debt arrangement, dissolution or other similar law now or hereafter in effect, or shall consent to the appointment of or
taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestration or the like, for such Person or any substantial part of its property, or shall make any general assignment for the benefit of creditors, or shall fail to, or
admit in writing its inability to, pay its debts generally as they become due. 
 “Bankruptcy Laws”.
Collectively, (a) the Federal Bankruptcy Code and (b) all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor
relief Laws of the United States, Bermuda or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally. 
 “Base Rate”. The higher of (a) the variable annual rate of interest so designated from time to time by Wells Fargo Bank, N.A. as its “prime rate”, such rate being a
reference rate and not necessarily representing the lowest or best rate being charged to any customer, and (b) one-half of one percent (0.5%) above the Federal Funds Effective Rate; provided, however, that in no event shall the Base Rate exceed
an interest rate per annum equal to one percent (1%) above the Federal Funds Effective Rate then in effect. For the purposes of this definition, “Federal Funds Effective Rate” shall mean for any day, the rate per
annum equal to 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 for such day (or, if such day is not a Business Day, for the next
preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average of the quotations for such day on such transactions received by the Administrative Agent from three
(3) funds brokers of recognized standing selected by the Administrative Agent. Changes in the Base Rate resulting from any publicly announced changes in the Administrative Agent’s “prime rate” shall take place immediately without
notice or demand of any kind. 
 “Base Rate Loan”. A Loan bearing interest calculated by reference to the Base
Rate. 
 “Borrower”. As defined in the caption to this Credit Agreement. 

“Borrower Expenses”. For any Collection Period, all out-of-pocket, reasonable costs and expenses of the Borrower payable
to third parties during such Collection Period (including costs and expenses permitted to be paid to, or by, the Manager, in connection with the conduct of the Borrower’s business), in each case determined on an accrual basis, including but not
limited to the following: 
 (a) administrative expenses; 

(b) accounting and audit expenses of the Borrower; 

(c) premiums for liability, casualty, fidelity, directors and officers and other insurance; 

(d) directors’ fees and expenses; 

(e) legal and other professional fees and expenses; and 

(f) taxes (including personal or other property taxes and all sales, value added, use and similar taxes; 

  
 -4-

 provided, however, that Borrower Expenses shall not include (1) Operating Expenses with respect to the
Owner Containers paid by the Manager pursuant to the terms of the Management Agreement, (2) any Manager Fee, (3) overhead expenses of the Manager and other costs and expenses required to be paid by the Manager under the Management
Agreement, (4) depreciation or amortization on the Owner Containers, (5) principal and interest payments on the Loans or (6) costs (exclusive of any Acquisition Fee) incurred by Borrower in connection with the Acquisition Function (as
defined in the Management Agreement). 
 “Breakage Cost”. For any Lender with respect to any Breakage Event,
any costs actually incurred by such Lender in connection with such Breakage Event, which shall be calculated as the difference (as reasonably determined by such Lender and set forth in a certificate of such Lender delivered to the Borrower) of
(a) such Lender’s cost of obtaining funds for the LIBOR Rate Loan that is the subject of such Breakage Event for the period from the date of such Breakage Event to the last day of the Interest Period in effect (or that would have been in
effect) for such LIBOR Rate Loan, minus (b) the amount of interest realized by such Lender in redeploying the funds returned or not utilized by reason of such Breakage Event for such period (or, if such funds are not so redeployed, the amount
of interest likely to have been realized in the eurodollar interbank market). 
 “Breakage Event”. Any of
(a) failure by the Borrower to repay any LIBOR Rate Loan as and when due and payable (including, without limitation, the prepayment of any LIBOR Rate Loan at any time other than the end of an Interest Period applicable thereto),
(b) failure of the Borrower to borrow after the Borrower has given a Loan Request relating thereto in accordance with Section 2.2, for any reason other than failure of any Lender to make a Loan as and when requested in such Loan
Request, (c) failure of the Borrower to prepay any Loan after the Borrower has given notice of such prepayment in accordance with Section 4.2.2, and (d) the conversion of a LIBOR Rate Loan to a Base Rate Loan at any time other
than the end of an Interest Period applicable thereto, pursuant to Section 5.5. 
 “Business Day”.
One of the following: (i) for all purposes other than as covered by clause (ii) below, any day excluding Saturday, Sunday and any day which shall be in San Francisco, California, New York, New York or the city in which the
Administrative Agent’s Office is located, a legal holiday or a day on which banking institutions are authorized by law or other governmental actions to close and (ii) with respect to all notices and determinations in connection with, and
payments of principal and interest on or with respect to, LIBOR Rate Loans, any day which is a Business Day described in clause (i) above and which is also a day for trading by and between banks in U.S. dollar deposits in the Eurodollar
interbank market. 
 “Capitalized Lease”. Any Lease under which the Borrower is the lessee or obligor, the
discounted remaining rental payment Obligations under which are required to be capitalized on the balance sheet of the lessee or obligor in accordance with GAAP. 
 “Capital Stock”. Any and all shares, interests, participations or other equivalents (however designated) of capital stock or shares of a corporation or company, any and all equivalent
ownership interests in a Person (other than a corporation) and any and all warrants, rights or options to purchase any of the foregoing. 
 “Cash Reserve Account”. As defined in Section 3.3. 

“Cash Reserve Amount”. As of each Funding Date or any Payment Date, an amount equal to the product of (i) three
(3), (ii) one-twelfth, (iii) an interest rate per annum equal to the sum of (x) the weighted average (determined based on then current notional balances) of the interest rates per annum payable by the Borrower under all
Interest Rate Hedging Agreements then in effect, plus (y) the Applicable Margin then in effect, and (iv) the Aggregate Loan Principal Balance, calculated after giving effect to all advances of principal and principal payments made
on such Funding Date or Payment Date. 
 “Casualty Loss”. As defined in the Management Agreement. 

  
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 “Casualty Proceeds”. As defined in the Management Agreement. 

“Change in Law”. Any of the following: 
  

	 	(i)	any change arising from the enactment or enforcement of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, or any rules, regulations,
interpretations, guidelines or directives promulgated thereunder by any Governmental Authority, or 

  

	 	(ii)	the occurrence, after the date of this Credit Agreement, of any of the following: (x) the adoption or taking effect of any law, rule, regulation or treaty;
(y) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof by any Governmental Authority; or (z) the making or issuance of any request, guideline or directive (whether or not
having the force of law) by any Governmental Authority. 

 “Closing Date”. The date on which all
conditions precedent set forth in Section 10 have been fulfilled or waived. 
 “Code”. The United
States Internal Revenue Code of 1986, as amended from time to time (and any successor statute thereto), and the regulations promulgated and rulings issued thereunder. Section references to the Code are to the Code as in effect on the date hereof,
and any subsequent provisions of the Code, amendments thereto or substituted therefrom. 
 “Collateral”. All of
the property, rights and interests of the Borrower that are or are intended to be subject to the Liens created by the Security Documents. Notwithstanding the foregoing, no account, instrument, chattel paper or other obligation or property of any
kind due from, owed by, or belonging to, a Sanctioned Person and no Lease under which the Lessee is a Sanctioned Person, shall, in either instance, constitute Collateral. 
 “Collection Period”. As defined in the Management Agreement. 

“Commitment”. With respect to each Lender, the amounts set forth on Schedule 1 as the amounts of such
Lender’s commitment to make Loans to the Borrower pursuant to this Credit Agreement, as the same may be increased or reduced from time to time pursuant to the provisions hereof; or if such commitments are terminated pursuant to the provisions
hereof, zero. 
 “Commitment Fee”. This term shall have the meaning set forth in Section 5.1.1.

 “Commitment Fee Percentage”. One half of one percent (0.50%) per annum. 

“Commitment Percentage”. With respect to any Lender, the percentage (carried out to the ninth decimal place) of the
Aggregate Commitments represented by such Lender’s Commitment at such time. If the commitment of each Lender to make Loans has been terminated pursuant to this Credit Agreement or if the Aggregate Commitments have expired, then the Commitment
Percentage of each Lender shall be determined based on the outstanding Loans owing to such Lender at such time. The initial Commitment Percentage of each Lender is set forth opposite the name of such Lender on Schedule 1 hereto or on the
Assignment and Acceptance pursuant to which such Lender becomes a party hereto, as applicable. 
 “Company”.
Any corporation, limited liability company, partnership or other business entity (or the adjectival form thereof, where appropriate). 
 “Competitor”. Any Person, other than Borrower, TL or any Affiliate of TL, engaged in the container leasing business or any line of business in which Borrower is engaged; provided that in
no event shall Wells Fargo Bank, National Association, or any Affiliate or Approved Fund thereof, be deemed to be a “Competitor”. 

  
 -6-

 “Consolidated” or “consolidated”. With reference to any
term defined herein, shall mean that term as applied to the accounts of the applicable Person and its Subsidiaries, consolidated in accordance with GAAP. 
 “Container”. As defined in the Management Agreement. 

“Container Sale Agreement”. Each agreement entered into from time to time for the sale of Containers by WFCC, TL or
their respective Affiliates, as a seller, to Borrower, as buyer. 
 “Contingent Obligation”. As to any Person,
means any obligation of such Person as a result of such Person being a general partner of any other Person, unless the underlying obligation is expressly made non-recourse as to such general partner, and any obligation of such Person guaranteeing or
intended to guarantee any Indebtedness, leases, dividends or other obligations (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including, without
limitation, any obligation of such Person, whether or not contingent, (i) to purchase any such primary obligation or any property constituting direct or indirect security therefor, (ii) to advance or supply funds (x) for the purchase
or payment of any such primary obligation or (y) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (iii) to purchase property, securities or
services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation or (iv) otherwise to assure or hold harmless the holder of such primary
obligation against loss in respect thereof; provided, however, that the term Contingent Obligation shall not include endorsements of instruments for deposit or collection in the ordinary course of business. The amount of any Contingent Obligation
shall be deemed to be an amount equal to the lesser of (x) the stated or determinable amount of the primary obligation in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated
liability in respect thereof (assuming such Person is required to perform thereunder) as determined by such Person in good faith and (y) the stated amount of such Contingent Obligation. 

“Control”. The possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Control Agreement”. The Blocked Account Agreement, dated as of August 5, 2011, by and among the Borrower, the
Administrative Agent and HSBC Bank Canada, as depositary bank. 
 “Credit Agreement”. This Credit Agreement,
including the Schedules and Exhibits hereto, as amended, supplemented or otherwise modified in accordance with the terms hereof. 
 “Credit Exposure”. With respect to any Person as of any date of determination, an amount equal to the sum of (i) the sum of the then Net Investment Values of all Eligible Finance
Leases under which such Person or one of its Affiliates is the Lessee, and (ii) the sum of the then Net Book Values of all Owner Containers subject to an Operating Lease under which such Person or one of its Affiliates is the Lessee.

 “Debt Service Coverage Ratio”. As of any date of determination, the ratio of (a) the remainder of
(i) the aggregate amount of all Owner Proceeds deposited into the Trust Account for all Collection Periods during the most recently completed Measurement Period minus (ii) the aggregate amount of the Manager Fees, Administrative Agent Fees
and Borrower Expenses for all Collection Periods during the most recently completed Measurement Period, to (b) the sum of (i) all interest, Commitment Fees and Periodic Hedge Payments payable by the Borrower (regardless of whether such
amounts were actually paid) during such Measurement Period and (ii) the sum of all Hedge Termination Payments and all Scheduled Principal Payment Amounts payable by the Borrower (regardless of whether such amounts were actually paid) during
such Measurement Period. 

  
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 “Default”. Any event that would, with the giving of notice or the lapse of
time or both, constitute an “Event of Default”. 
 “Defaulted Finance Lease”. Any Finance Lease for
which: 
 (a) a regularly scheduled rental payment or other material payment owing thereunder is more than ninety
(90) days past due (measured from its contractual due date), unless such payment is covered by default insurance and a full recovery for such rental payment under such default insurance is obtained by, or on behalf of, Borrower within sixty
(60) days following the date such payment became ninety (90) days past due; or 
 (b) an “event of
default” thereunder, not dealt with in clause (a) (including the Lessee’s insolvency), has occurred, and the Manager has repossessed the related Owner Containers or is otherwise exercising remedies in accordance with its normal
procedures; or 
 (c) the Manager has otherwise determined that the remaining amounts owing by the Lessee under
such Lease are expected to be uncollectible, or 
 (d) both of the following shall have occurred with respect to
such Lease: (i) the Lessee is the subject of a Bankruptcy Event, and (ii) such Lessee is not current in the payment of rental or other payments owing by such Lessee thereunder within ninety (90) days subsequent to the commencement of
such Bankruptcy Event. 
 “Defaulting Lender”. Subject to Section 15.13.2, any Lender that, as
determined by Administrative Agent, (a) has failed to perform any of its funding obligations hereunder, including in respect of its Loans, within two (2) Business Days of the date required to be funded by it hereunder, or (b) has
notified the Borrower or Administrative Agent that it does not intend to comply with its funding obligations or has made a public statement to that effect with respect to its funding obligations under this Credit Agreement or under other agreements
generally in which it commits to extend credit (it being agreed that a failure or refusal by a Lender to honor funding requests as a result of a good faith dispute regarding the continuing obligation of such lender to provide requested funds under
such other agreement shall not serve as the basis for classification of such Lender as a Defaulting Lender). 

“Depreciation Policy”. (i) For purposes of calculating the Asset Base, a depreciation policy under which Owner
Containers are depreciated (x) in the case of a new Owner Container, using the straight-line method over a twelve (12) year useful life, to an estimated residual value of twenty-eight percent (28%) of the Original Equipment Cost of
such new Owner Container, and (y) in the case of used Owner Containers, the remaining useful life thereof at the date of acquisition by the Borrower thereof (based upon a total useful life of 12 years) to an estimated residual value of
twenty-eight percent (28%) of the Original Equipment Cost of Owner Containers that are then the same age as such used Owner Container and (ii) for purposes of preparing and maintaining the financial statements and financial records of the
Borrower and all other purposes not addressed in clause (i), the depreciation policy of the Borrower, which may from time to time be revised by Borrower with the approval of Borrower’s independent auditors. Notwithstanding the foregoing, if
(A) the “Depreciation Policy” used under the TMCL Indenture for purposes of calculating the asset base thereunder is revised such that such “Depreciation Policy” can be revised by the “Issuer” or
“Manager” thereunder with the approval of such issuer’s or manager’s independent auditors but without approval of the noteholders under the TMCL Indenture (the “Revision”), and (B) WFB or an Affiliate
thereof, as a holder of notes issued pursuant to the TMCL Indenture, voted in favor of the Revision, then clause (i) of this definition automatically shall be deleted on the effective date of the Revision. 

“Determination Date”. The fourth (4th) Business Day prior to a Payment Date. 

  
 -8-

 “Distribution”. By any Person, (i) the declaration or payment of any
dividend on or in respect of any shares of any class of Capital Stock of such Person, other than dividends payable solely in shares of Capital Stock of such Person; (ii) the purchase, redemption, defeasance, retirement or other acquisition of
any shares of any class of Capital Stock of such Person, directly or indirectly through a Subsidiary of such Person or otherwise (including the setting apart of assets for a sinking or other analogous fund to be used for such purpose);
(iii) the return of capital by such Person to its shareholders as such; or (iv) any other distribution on or in respect of any shares of any class of Capital Stock of a Person. 

“Dollars” or “$”. Dollars in lawful currency of the United States of America. 

“Early Amortization Event”. The occurrence of any of the following events or conditions: 

(a) An Event of Default; 
 (b) A Manager Default; 
 (c) The Finance Lease Default Ratio (as
set forth on the most recent Manager Report) exceeds twenty percent (20%); 
 (d) An Asset Base Deficiency exists
on any Payment Date and such condition remains unremedied for a period of ten (10) consecutive Business Days without being cured; 
 (e) The Debt Service Coverage Ratio (as set forth on the most recent Manager Report) is less than 1.15 to 1.0; 
 (f) The Asset Base is less than $200,000,000 as of any Payment Date following the expiration or termination of the Revolving Credit Period; 

(g) WFB and/or other direct or indirect Subsidiaries of WFB fail to own, in the aggregate, at least fifty one percent
(51%) of the Capital Stock of the Borrower; and 
 (h) The total number of Eligible Lessees under Leases in
respect of which Loans have been advanced is less than (i) three by August 31, 2012, (ii) six by August 31, 2013 and (iii) nine by August 31, 2014; 

provided that, if an Early Amortization Event occurs, such Early Amortization Event shall be deemed to be continuing (regardless
of whether such Early Amortization Event has been cured) until the date on which the Majority Lenders waive in writing such Early Amortization Event; provided further that: 

(i) in the case of the Early Amortization Event of the type set forth in clause (d) above, such Early Amortization Event
shall be deemed to be no longer continuing, regardless of the absence of any such waiver, beginning on the first Determination Date thereafter on which the Manager Report indicates that an Asset Base Deficiency no longer exists; provided that
(A) the Revolving Credit Period has not expired or been terminated pursuant to clause (a) or (b) of the definition thereof and (B) fewer than six Payment Dates have occurred since the date on which such Early
Amortization Event was initially reported on a Manager Report; and 
 (ii) in the case of the Early Amortization Event of the
type set forth in clause (e) above, such Early Amortization Event shall be deemed to be no longer continuing, regardless of the absence of any such waiver, beginning on the first Determination Date thereafter on which such condition has
not been continuing for at least two consecutive subsequent Payment Dates; provided that fewer than six Payment Dates have occurred since the date on which such condition was initially reported on a Manager Report. 

The cure and/or waiver of any single type of Early Amortization Event shall not constitute a cure or waiver of any other type of Early Amortization Event
then continuing. 

  
 -9-

 “Eligible Assignee”. Any of (a) a Lender, (b) an Affiliate of a
Lender, (c) an Approved Fund and (d) any other Person approved by (i) the Administrative Agent (such approval not to be unreasonably withheld or delayed), and (ii) the Borrower (such approval not to be unreasonably withheld or
delayed); provided, however, that the Borrower will not have an approval right if a Default or an Event of Default is then continuing; provided that an “Eligible Assignee” shall not include (1) a Competitor, (2) the Borrower,
(3) TL or any Affiliate of TL, (4) a natural person or (5) any Person then classified as a Defaulting Lender. 

“Eligible Finance Lease”. Any Finance Lease that as, of the Funding Date applicable thereto, meets all of the following
characteristics: 
 (a) Valid Contract. Such Finance Lease is a legal, valid and binding full recourse
payment obligation of the related Lessee, enforceable in accordance with its terms (except as may be limited by applicable insolvency, bankruptcy, moratorium, reorganization, or other similar laws affecting enforceability of creditors’ rights
generally and the availability of equitable remedies) and is in full force and effect, and such Finance Lease has not been satisfied, subordinated or rescinded; 
 (b) No Violation. The pledge of Borrower’s right, title and interest in and to such Finance Lease and the related Owner Containers will not violate the terms or provisions of such Finance
Lease or any other agreement to which the Borrower is a party or by which it is bound; 
 (c) Partial
Pledges. No portion of such Finance Lease or the Owner Containers subject to such Finance Lease has been pledged by Borrower to a third party; 
 (d) Good Title and First Lien. The Borrower has good and marketable title to such Finance Lease and the Owner Containers subject thereto and the Administrative Agent shall have a first priority
(subject only to Permitted Liens), perfected security interest in the Borrower’s rights in such Finance Lease and the Owner Containers subject thereto; 
 (e) Defaulted Leases. Such Finance Lease is not a Defaulted Finance Lease; 
 (f) Insolvency. The Lessee under such Finance Lease is not subject to Bankruptcy Event; 
 (g) Eligible Lessee. The Lessee under such Finance Lease is an Eligible Lessee; 
 (h) Lease Concentration Limits. In the case of any Funding Date occurring after the date on which at least ten Persons become Lessees under Eligible Finance Leases, such Finance Lease satisfies all
of the Lease Concentration Limits; 
 (i) Permissible Equipment Types. Each Owner Container that is
subject to such Finance Lease is of an equipment type listed on Schedule 5 hereto and, after giving effect to the acquisition by the Borrower of the Owner Containers that are subject to such Finance Lease, all Owner Containers are within the
concentration limitations set forth on Schedule 5 hereto; 
 (j) Financing Statements. All UCC
financing statements (or documents of similar import) required to be filed against the related Lessee as of the Funding Date pursuant to the terms of the Management Agreement and the Security Documents shall have been so filed; 

(k) Purchase Price. The Original Equipment Cost for such Owner Container did not exceed its Fair Market Value at
the time of acquisition; 
 (l) Manufacturer Specifications. At the date of its manufacture, the container
conformed to any applicable industry standards (including, without limitation, any applicable rules or regulations promulgated by the International Standards Organization or the Convention for Safe Owner Containers); 

  
 -10-

 (m) Manager Specifications. The Owner Container conformed to the
specifications used by the Manager in the ordinary course of its business at the time of its acquisition by the Borrower; 
 (n) Origination. Such Finance Lease was either (i) originated by the Manager, on behalf of the Borrower, in accordance with the terms of the Management Agreement, or (ii) acquired by the
Borrower pursuant to the terms of a Container Sale Agreement; and 
 (o) Terms of Such Finance Lease.

 (i) Absolute Obligations. The Lessee’s obligation to pay rent under such Finance Lease is a
“hell or high water” obligation that is, among other characteristics, absolute and not subject to any defenses, set-offs or counterclaims, and such Finance Lease has no rescission, reduction or recoupment provision during the
non-cancelable term of such Finance Lease except as to disputed amounts and that, upon making of a casualty payment, the obligation of the related Lessee to make rental payments thereunder will be reduced accordingly; 

(ii) Taxes; Maintenance; Insurance. Such Finance Lease (i) contains provisions (A) requiring the related
Lessee to pay all sales, use, excise, rental, property or similar taxes imposed on or with respect to the Owner Container and (B) to assume all risk of loss or malfunction of the related Owner Container and (ii) requires the related
Lessee, at its own expense, to maintain the Owner Container in good and workable order and to obtain and maintain liability insurance and physical damage insurance on the Owner Containers subject thereto (subject to Lessee’s right to
self-insure in accordance with Manager’s credit and collection policy); 
 (iii) Acceleration. Such
Finance Lease provides for the Lessor’s right to accelerate all rental payments thereunder upon an “event of default” thereunder; 
 (iv) Casualty Loss. Such Finance Lease requires that in the event of a Casualty Loss, the related Lessee must take one of the following actions: (i) restore or repair the affected Owner
Container to good repair, condition and working order; or (ii) make a lump sum payment in an amount that is not less than an amount equal to the sum of (x) all rental payments thereunder then due and owing, and (y) the net present
value, calculated at a discount rate set forth in the Finance Lease, of all unpaid rental payments scheduled to become due thereunder; 
 (v) Tenor. The term of such Finance Lease (including any bargain renewal options) is not more than ten years; 

(vi) Subleasing. Such Finance Lease shall prohibit the sublease of the related Owner Container without the prior
consent of the Manager; and 
 (vii) Rental Payment Frequency. Rent under such Lease is payable no less
frequently than quarterly. 
 “Eligible Investments”. Book-entry securities, negotiable instruments or
securities represented by instruments in bearer or registered form, which evidence: 
 (a) direct obligations of,
and obligations fully guaranteed as to the full and timely payment by, the United States of America; 

  
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 (b) demand deposits, time deposits or certificates of deposit of any
depository institution or trust company incorporated under the laws of the United States of America or any State thereof and subject to supervision and examination by Federal or State banking or depository institution authorities; provided, however,
that at the time of the investment or contractual commitment to invest therein, the commercial paper or other short-term unsecured debt obligations (other than such obligations the rating of which is based on the credit of a Person other than such
depository institution or trust company) thereof shall be rated “A-1+” by S&P and “Prime 1” by Moody’s; 
 (c) commercial paper that, at the time of the investment or contractual commitment to invest therein, is rated “A-1+” by S&P and “Prime 1” by Moody’s; 

(d) bankers’ acceptances issued by any depository institution or trust company referred to in clause
(b) above; 
 (e) repurchase obligations with respect to any security pursuant to a written agreement
that is a direct obligation of, or fully guaranteed as to the full and timely payment by, the United States of America or any agency or instrumentality thereof the obligations of which are backed by the full faith and credit of the United States of
America, in either case entered into with (i) a depository institution or trust company (acting as principal) described in clause (b) or (ii) a depository institution or trust company the deposits of which are insured by the
Federal Deposit Insurance Corporation and whose commercial paper or other short-term unsecured debt obligations are rated “A-1+” by S&P and “Prime 1” by Moody’s and whose long-term unsecured debt obligations are rated
“AA” by S&P and “Aa3” by Moody’s; 
 (f) money market mutual funds registered under
the Investment Company Act having a rating, at the time of such investment, from each of S&P and Moody’s in the highest investment category granted thereby; and 

(g) any other investment as may be acceptable to the Administrative Agent (acting at the direction of the Majority
Lenders), as evidenced by the Administrative Agent’s prior written consent to that effect. 
 “Eligible
Lessee”. Any Person (other than any Sanctioned Person) that meets all of the applicable requirements set forth in clauses (a), (b) and (c) below: 

(a) in the case of any Person that is a prospective Lessee under a Finance Lease: 

(1) For each of the first five (5) Lessees under Finance Leases as to which Loans are advanced, each of the
following: (A) each Person, not addressed in clause (B) below, that has been approved by the Majority Lenders (in their sole discretion) to be a Lessee under a Finance Lease, and (B) so long as no Bankruptcy Event is continuing
with respect to such Person, each of the following Persons, so long as the aggregate Credit Exposure related to such Person and its Affiliates (calculated after giving effect to the Finance Lease then under consideration) shall not exceed the Dollar
amount set forth opposite the name of such Person on Schedule 4 under the column entitled “Maximum Allowed Exposure” (as such amounts may be amended from time to time in a written instrument signed by each of the Borrower and the
Administrative Agent, acting at the direction of the Majority Lenders); 
 (2) For each of the sixth through
tenth, inclusive, Lessees under Finance Leases as to which Loans are advanced, each of the following: (A) each Person not addressed in clause (B) below, that has been approved by the Majority Lenders (in their sole discretion) to be
a Lessee under a Finance Lease, and (B) so long as no Bankruptcy Event is continuing with respect to such Person, each of the Persons set forth in clause (A), so long as the aggregate Credit Exposure related to such Person and its
Affiliates (calculated after giving effect to the Finance Lease then under consideration) shall not exceed Thirty Five Million Dollars ($35,000,000); 

  
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 (3) Once at least ten Persons described in the foregoing clauses
(a)(1) and (a)(2) have become Lessees under Finance Leases as to which Loans are advanced, any Person engaged in the shipping industry so long as (A) no Bankruptcy Event is continuing with respect to such Person on the Funding Date
for the related Finance Lease, and (B) the consummation of the Finance Lease then under consideration complies with all of the Lease Concentration Limits. 
 (b) in the case of any Person that is a prospective Lessee under a Finance Lease, the Administrative Agent has received with respect to such Person all of the credit underwriting information set forth on
Schedule 2 hereto and such information shall be satisfactory to the Administrative Agent (in its sole discretion); and 
 (c) the Administrative Agent has received with respect to such Person the information set forth on Schedule 3 to the Management Agreement and the Administrative Agent shall have determined, in its
sole discretion, that such Person satisfies the Administrative Agent’s and WFBNA’s compliance requirements related to OFAC and any other statutes, regulations, rules, orders and other applicable restrictions imposed by any applicable
Governmental Authority. 
 “Eligible Owner Container”. As of any date of determination, any Owner Container
that is not then subject to a Finance Lease that complies with all of the following: 
 (a) Manufacturer
Specifications. At the date of its manufacture, the container conformed to any applicable industry standards (including without limitation any applicable rules or regulations promulgated by the ISO or CSC); 

(b) Manager Specifications. The Owner Container conformed to the specifications used by the Manager in the ordinary
course of its business at the time of its acquisition by the Borrower; 
 (c) Eligible Finance Lease. Such
Owner Container was, on the Funding Date applicable to such Owner Container, subject to (i) an Eligible Finance Lease or (ii) a lease that satisfies all criteria of being an Eligible Finance Lease; 

(d) Registration. Each Owner Container’s registration mark (four letter prefix) has been registered in the
name of the Lessee and/or the Manager in the official register of the Bureau International des Owner Containers (Paris); 
 (e) Compliance with Law. Each Lease of such Owner Container complied in all material respects at the time it was originated with all legal requirements of the jurisdiction in which it was
originated; 
 (f) Casualty Loss. Such Owner Container is not the subject of a Casualty Loss; 

(g) Liens. Such Owner Container is free and clear of all Liens other than Permitted Liens; 

(h) Purchase Price. The Original Equipment Cost for such Owner Container did not exceed its Fair Market Value at
the time of acquisition; 
 (i) No Sanctioned Person or Sanctioned Country. Such Owner Container is then
(i) not on lease to a Sanctioned Person, and (ii) (A) not subleased to or used by a Sanctioned Person or (B) not located, operated or used in a Sanctioned Country unless otherwise authorized pursuant to OFAC Sanctions or by a
license granted by OFAC; and 

  
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 (j) Lease Concentration Limits. If such Container is then subject to
an Operating Lease, (i) such Operating Lease complies with all of the Lease Concentration Limits, (ii) the Lessee under such Operating Lease is an Eligible Lessee and (iii) rent under such Lease is payable no less frequently than
quarterly. 
 “Environmental Law”. Any applicable local, state, federal, or other laws in the United States of
America, or any other laws relating to the environment or natural resources or the regulation of releases or threatened releases of Hazardous Substances into ambient air, water, or land, or otherwise relating to the manufacture, processing,
generation, distribution, use, treatment, storage, disposal, cleanup, transport or handling of Hazardous Substances, and all rules, orders and regulations currently promulgated thereunder. 

“Environmental Claim”. Any and all administrative, regulatory or judicial actions, suits, orders, claims or proceedings
against the Borrower under any Environmental Law or any permit issued to the Borrower under any such Environmental Law (for purposes of this definition, “Claims”), including, without limitation, (a) any and all Claims by
governmental or regulatory authorities for enforcement, cleanup, removal, response, remedial or other actions or damages pursuant to any applicable Environmental Law, and (b) any and all Claims by any third party seeking damages, contribution,
indemnification, cost recovery, compensation or injunctive relief resulting from Hazardous Materials or arising from alleged injury or threat of injury to health, safety or the environment. 

“ERISA”. The Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations
promulgated and rulings issued thereunder. Section references to ERISA are to ERISA, as in effect at the date of this Credit Agreement and any subsequent provisions of ERISA, amendatory thereof, supplemental thereto or substituted therefor.

 “ERISA Event”. Means (a) any “reportable event”, as defined in Section 4043 of ERISA or
the regulations issued thereunder, with respect to a Plan (other than an event for which the 30-day notice period is waived); (b) the incurrence by the Borrower of any liability under Title IV of ERISA with respect to the termination of any
Plan or the withdrawal or partial withdrawal of the Borrower from any Plan or Multiemployer Plan; (c) the receipt by the Borrower from the PBGC or a plan administrator of any notice relating to the intention to terminate any Plan or Plans or to
appoint a trustee to administer any Plan; (d) the adoption of any amendment to a Plan that would require the provision of security pursuant to Section 307 of ERISA; (e) the receipt by the Borrower of any notice, or the receipt by any
Multiemployer Plan from the Borrower of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA; or
(f) the occurrence of a nonexempt “prohibited transaction” with respect to which the Borrower is a “disqualified person” (within the meaning of Section 4975 of the Code). 

“Expense Payment Account”. As defined in Section 3.5. 

“Event of Default”. This term shall have the meaning set forth in Section 12.1. 

“Executive Order”. This term shall have the meaning set forth in Section 7.20. 

“Fair Market Value”. With respect to any asset (including any Owner Container) to be purchased or sold by, or on behalf
of, the Borrower, shall mean the price at which a willing buyer, not an Affiliate of the seller, and a willing seller who does not have to sell, would agree to purchase and sell such asset, as determined in good faith by, or on behalf of, the
Borrower. 
 “Federal Bankruptcy Code”. Title 11, United States Code as in effect from time to time (and any
successor thereto). 

  
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 “Fees”. Collectively, the Administrative Agent Fee and the Commitment Fee.

 “Finance Lease”. Any Lease that (x) is classified as a “direct financing lease” pursuant to
GAAP and (y) provides the Lessee thereunder with the right or option to (i) purchase the Owner Containers subject thereto at the expiration of such lease or (ii) extend the term of such lease for an additional period, and, in either
such instance, such Lease satisfies the criteria for classification as a capital lease pursuant to GAAP, including statement of Financial Accounting Standards No. 13 as amended. 

“Finance Lease Default Ratio”. With respect to each Collection Period, a fraction (expressed as a percentage),
(a) the numerator of which is an amount equal to the sum of the Original Equipment Cost of all Owner Containers subject to all Finance Leases currently in effect that have been classified as a Defaulted Finance Lease during such Collection
Period or a prior Collection Period, and (b) the denominator of which is an amount equal to the Aggregate Original Equipment Cost of all Owner Containers. 
 “Finance Lease Proceeds Account”. As defined in the Management Agreement. 
 “Floating Rate Lease”. A Finance Lease pursuant to which the amount of rent payable by the related Lessee changes on a monthly basis based on a reference interest rate, such as LIBOR Rate
or the prime rate. 
 “Fund”. Any Person (other than a natural person) that is (or will be) engaged in making,
purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business. 
 “Funding Date”. Each date on which a Loan is made to the Borrower pursuant to the terms of this Credit Agreement. 
 “GAAP”. Generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the Accounting Principles Board and the American Institute of
Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board,, that are applicable to the circumstances as of the date of determination, consistently applied. 

“Governmental Authority”. Any foreign, federal, state, regional, local, municipal or other government, including any
regulatory authority (including any self-regulatory authority claiming jurisdiction) or any bank examiner, or any department, commission, board, bureau, agency, public authority or instrumentality thereof, or any court or arbitrator. 

“Guaranteed Pension Plan”. Any employee pension benefit plan within the meaning of Section 3(2) of ERISA maintained
or contributed to by the Borrower the benefits of which are guaranteed on termination in full or in part by the PBGC pursuant to Title IV of ERISA, other than a Multiemployer Plan. 

“Hazardous Substances”. Those substances or materials that are prohibited, limited or regulated by any Environmental
Law. 
 “Hedge Termination Payment”. Any payment due under an Interest Rate Hedging Agreement as a result of
the termination of such Interest Rate Hedging Agreement for whatever reason. 
 “Hedging Agreement”. Any
interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate futures contract, interest rate option agreement, interest rate exchange agreement, forward currency exchange agreement, forward rate currency
agreement, forward commodity contract, commodity swap, commodity option or other similar agreement or arrangement to which the Borrower at that time is a party, designed to protect the Borrower against fluctuations in those interest rates, exchange
rates, forward rates or commodity prices that normally arise in connection with the Borrower’s ordinary course of business or as otherwise required to be entered into by the Borrower pursuant to, and in accordance with, the terms of this Credit
Agreement. 

  
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 “Indebtedness”. As to any Person, without duplication, means (i) all
indebtedness (including principal, interest, fees and charges) of such Person for borrowed money, (ii) all obligations of such Person in respect of letters of credit, bankers’ acceptances, and bank guaranties issued for the account of such
Person, (iii) all indebtedness of the types described in clause (i), (ii), (iv), (v) or (vi) of this definition secured by any Lien on any property owned by such Person, whether or not such
indebtedness has been assumed by such Person (provided that, if the Person has not assumed or otherwise become liable in respect of such indebtedness, such indebtedness shall be deemed to be in an amount equal to the lesser of (A) the
outstanding amount of such Indebtedness and (B) the fair market value of the property to which such Lien relates as determined in good faith by such Person), (iv) the aggregate amount of all obligations of such Person under Capitalized
Leases and Synthetic Leases, (v) all Contingent Obligations of such Person, (vi) as of any date of determination, all obligations under any interest rate hedging or under any similar type of agreement to the extent of the amount due if
such agreement were to be terminated on such date of determination, and (vii) all obligations of such Person issued or assumed as the deferred purchase price of property or services, all conditional sale obligations and all obligations under
any title retention agreement (but excluding trade accounts payable and other accrued liabilities arising in the ordinary course of business that are either (x) not overdue by 90 days or more or (y) being contested in good faith by
appropriate proceedings promptly instituted and diligently conducted). 
 “Indemnified Party”. This term shall
have the meaning set forth in Section 15.3. 
 “Independent Accountant”. KPMG or any other
“Big 4” or other nationally or regionally recognized accounting firm that is reasonably acceptable to the Administrative Agent (acting at the direction of the Majority Lenders) and that is independent with respect to the Borrower within
the meaning of the Securities Act of 1933, as amended, and the applicable published rules and regulations thereunder. 

“Interest Period”. With respect to all or any relevant portion of any Loan, (a) initially, the period commencing on
the Funding Date of such Loan and ending on the close of business on the last day of the month in which such Funding Date occurs, and (b) thereafter, each period commencing the first day of each calendar month and ending on the last day of such
calendar month; provided, that all of the foregoing provisions relating to Interest Periods are subject to the following: 
 (a) if any Interest Period with respect to a LIBOR Rate Loan would otherwise end on a day that is not a LIBOR Business Day, that Interest Period shall be extended to the next succeeding LIBOR Business Day
unless the result of such extension would be to carry such Interest Period into another calendar month, in which event such Interest Period shall end on the immediately preceding LIBOR Business Day; 

(b) if any Interest Period with respect to a Base Rate Loan would end on a day that is not a Business Day, that Interest
Period shall end on the next succeeding Business Day; 
 (c) any Interest Period (except for the initial Interest
Period with respect to any Loan) relating to any LIBOR Rate Loan that begins on the last LIBOR Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest
Period) shall end on the last LIBOR Business Day of a calendar month; and 
 (d) any Interest Period that would
otherwise extend beyond the Maturity Date shall end on the Maturity Date. 
 “Interest Rate Hedge
Counterparty”. Each Person that is a counterparty to an Interest Rate Hedging Agreement with the Borrower. 

  
 -16-

 “Interest Rate Hedging Agreement”. A Hedging Agreement with one or more
Interest Rate Hedge Counterparties that protects the Borrower against fluctuations in interest rates. 

“Investments”. Any direct or indirect advance, loan (other than advances to customers in the ordinary course of business
that are recorded as accounts receivable on the balance sheet of the lender) or other extensions of credit (including by way of guarantee or similar arrangement) or capital contribution to (by means of any transfer of cash or other property to
others or any payment for property or services for the account or use of others), or any purchase or acquisition for value of Capital Stock, Indebtedness or other similar instruments issued by any Person 

“Lease”. Any lease for one or more Owner Containers entered into with a Lessee, which Lease may, if an Operating Lease,
cover both Owner Containers and other marine or intermodal cargo containers in Manager’s fleet. Operating Leases may be in the name of Manager or in the name of a third-party lessor from whom Manager has acquired management rights. 

“Lease Concentration Limits”. With respect to each Finance Lease and Operating Lease (as applicable), and subject to the
proviso set forth below, each of the following limitations: 
 (a) Maximum Concentration to a Single
Lessee. The sum of (i) the Net Book Values of all Owner Containers subject to an Operating Lease and (ii) the Net Investment Value of all Finance Leases, that are in aggregate with any single Lessee and its Affiliates shall not exceed
an amount equal to the product of (A) either (x) fifteen percent (15%) for each Eligible Lessee with a Maximum Allowed Exposure of Thirty Five Million Dollars ($35,000,000) pursuant to clause (a)(1) of the definition of
“Eligible Lessee”, or (y) ten percent (10%) at all other times and for all other Persons and (B) the sum of (1) then Aggregate Net Book Value and (2) then Aggregate Net Investment Value; 

(b) Maximum Concentration to U.S. Government. In the case of Operating Leases only, the sum of the Net Book Values
of all Owner Containers subject to Operating Leases under which the Lessee is the government of the United States of America or one of its agencies shall not exceed an amount equal to the product of (A) four percent (4%) and (B) an
amount equal to the sum of (i) then Aggregate Net Book Value and (ii) then Aggregate Net Investment Value; 
 (c) Maximum Concentration of Non-Monthly Rental Payments. In the case of Operating Leases only, the sum of the Net Book Values of all Owner Containers subject to Operating Leases for which rentals
are billed and payable less frequently than monthly shall not exceed an amount equal to the product of (A) ten percent (10%) and (B) the sum of (i) then Aggregate Net Book Value and (ii) then Aggregate Net Investment Value;

 (d) Maximum Concentration of Non-Intermodal Lessee. In the case of Operating Leases only, the sum of
the Net Book Values of all Owner Containers subject to Operating Leases under which the Lessee is a Person not engaged in the intermodal business shall not exceed an amount equal to the product of (A) ten percent (10%) and (B) the sum
of (i) then Aggregate Net Book Value and (ii) then Aggregate Net Investment Value; and 
 (e)
Maximum Concentration of Non-US Dollars Leases. In the case of Operating Leases only, the sum of the Net Book Values of all Owner Containers subject to Operating Leases under which rent is denominated in a currency other than U.S. Dollars
shall not exceed an amount equal to the product of (A) one half of one percent (0.5%) and (B) the sum of (i) then Aggregate Net Book Value and (ii) then Aggregate Net Investment Value; 

provided that, for purposes of clarification, the Lease Concentration Limits shall not apply at any time prior to the date on
which at least ten Persons described in clause (a)(1) or (a)(2) of the definition of “Eligible Lessee” have become Lessees under Finance Leases as to which Loans have been advanced. 

  
 -17-

 “Lender Affiliate”. With respect to any Lender, an Affiliate of such
Lender. 
 “Lenders”. Wells Fargo Bank, National Association and the other lending institutions listed on
Schedule 1 hereto and any other Person who becomes an assignee of any rights and obligations of a Lender pursuant to Section 14. 
 “Lessee”. Any entity that leases one or more Owner Containers. 

“LIBOR Business Day”. Any day on which commercial banks are open for international business (including dealings in
Dollar deposits) in London or such other eurodollar interbank market as may be selected by the Administrative Agent (acting at the direction of the Majority Lenders). 
 “LIBOR Rate”. For any Interest Period with respect to a LIBOR Rate Loan, the rate of interest equal to (i) the rate determined by the Administrative Agent at which Dollar deposits
for such Interest Period are offered based on information presented on Page LIBOR01 of the Reuters Service as of 11:00 a.m. London time on the second (2nd) LIBOR Business Day prior to the first day of such Interest Period, divided by
(ii) a number equal to 1.00 minus the Mandatory Reserve Rate. If the rate described above does not appear on the Dow Jones Market Service on any applicable interest determination date, the LIBOR Rate shall be the rate (rounded upward, if
necessary, to the nearest one hundred-thousandth of a percentage point), determined on the basis of the offered rates for deposits in Dollars for a period of time comparable to such LIBOR Rate Loan which are offered by four major banks in the London
interbank market at approximately 11:00 a.m. London time, on the second (2nd) LIBOR Business Day prior to the first day of such Interest Period as selected by the Administrative Agent. The principal London office of each of the four major
London banks will be requested to provide a quotation of its Dollar deposit offered rate. If at least two such quotations are provided, the rate for that date will be the arithmetic mean of the quotations. If fewer than two quotations are provided
as requested, the rate for that date will be determined on the basis of the rates quoted for loans in Dollars to leading European banks for a period of time comparable to such Interest Period offered by major banks in New York City at approximately
11:00 a.m. New York City time, on the second LIBOR Business Day prior to the first day of such Interest Period. In the event that the Administrative Agent is unable to obtain any such quotation as provided above, it will be considered that the LIBOR
Rate pursuant to a LIBOR Rate Loan cannot be determined. 
 “LIBOR Rate Loan”. A Loan bearing interest
calculated by reference to the LIBOR Rate. 
 “Lien”. Any mortgage, pledge, hypothecation, assignment, deposit
arrangement, security interest, encumbrance, lien (statutory or other), charge, preference, priority or other security agreement of any kind or nature whatsoever (including any agreement to give any of the foregoing, any conditional sale or other
title retention agreement, any financing or similar statement or notice filed under the UCC or any similar recording or notice statute (other than any unauthorized notice filing for which there is not otherwise any underlying Lien or obligation),
and any lease having substantially the same effect as the foregoing). 
 “Loan”. Any loan made or to be made by
the Lenders to the Borrower pursuant to Section 2.1. 
 “Loan Documents”. This Credit Agreement,
the Management Agreement, each Container Sale Agreement, any Interest Rate Hedging Agreement, the Revolving Credit Notes (if issued), the Administrative Agent Fee Letter and the Security Documents. 

“Loan Request”. This term shall have the meaning set forth in Section 2.2. 

“Majority Lenders”. As of any date of determination, one of the following: 

(A) if any Loans are then outstanding or Commitments are then in effect, any single Lender or multiple
Lenders collectively having more than sixty-six and two thirds of one percent (66 2/3%) of the sum of the portion of the Aggregate Commitments unfunded at such date plus the Aggregate Loan 

  
 -18-

 
Principal Balance or, if the Commitment of each Lender to make Loans has been terminated pursuant to Section 12.2(b), any single or multiple Lenders collectively holding in the
aggregate more than sixty six and two thirds of one percent (66 2/3%) of the Aggregate Loan Principal Balance; provided that the Commitment of, and the portion of the Aggregate Loan Principal Balance held or deemed held by, any Defaulting Lender shall be excluded
for purposes of making a determination of Majority Lenders; or 
 (B) at all times not addressed in
clause (A), one or more Interest Rate Hedge Counterparties that would be owed more than fifty percent (50%) of the aggregate amount of all Hedge Termination Payments that would be payable on such date if all Interest Rate Hedging Agreements
were terminated on such date of determination. 
 “Management Agreement”. The Equipment Management Services
Agreement, dated as of the date hereof, entered into by and between the Manager and the Borrower, as such agreement shall be amended, supplemented, or modified from time to time in accordance with its terms, which agreement shall be in the form
attached as Exhibit B hereto and otherwise in form and substance satisfactory to the Administrative Agent and the Lenders. 
 “Manager”. TEML, as manager under the Management Agreement. 

“Manager Advances”. This term shall have the meaning set forth in the Management Agreement. 

“Manager Default”. Any “Manager Event” as defined in the Management Agreement. 

“Manager Fee”. This term shall have the meaning set forth in the Management Agreement. 

“Manager Fee Arrearage”. For any Payment Date, an amount equal to any unpaid Manager Fee from all prior Collection
Periods. 
 “Mandatory Reserve Rate”. For any day with respect to a LIBOR Rate Loan, the maximum rate
(expressed as a decimal) at which any bank subject thereto would be required to maintain reserves under any applicable regulatory authority (including without limitation any reserves required by (i) the regulations of the European Central Bank
or (ii) Regulation D of the Board of Governors of the Federal Reserve System against “Eurocurrency Liabilities” (as that term is used in Regulation D) (or any successor or similar regulations relating to such reserve requirements), if
such liabilities were outstanding). The Mandatory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in the Mandatory Reserve Rate. 
 “Margin Stock”. The term shall have the meaning provided in Regulation U. 
 “Material Adverse Effect”. With respect to any event or occurrence of whatever nature (including any adverse determination in any litigation, arbitration or governmental investigation or
proceeding): 
 (a) a material adverse effect on the business, financial condition or operations of the Borrower;
or 
 (b) a material adverse effect on the ability of the Borrower to perform any of its monetary obligations
under any of the Loan Documents to which it is a party. 
 “Maturity Date”. The earlier to occur of
(i) the date on which the Obligations have been accelerated in accordance with Section 12.2(a) and (ii) the tenth anniversary of the expiration date or termination date of the Revolving Credit Period. 

“Maximum Required Hedge Amount”. As of any date of determination, an amount equal to the product of (a) one hundred
five percent (105%) and (b) the Aggregate Loan Principal Balance as of such date of determination; provided that, for purposes of calculating the Maximum Required Hedge Amount, the Aggregate Loan Principal Balance shall be
calculated without regard to Loans made to finance the origination or acquisition of Floating Rate Leases. 

  
 -19-

 “Measurement Period”. As of any date of determination, the most recently
completed twelve (12) calendar months or, if shorter, the number of calendar months that elapsed since the Closing Date. 

“Minimum Required Hedge Amount”. As of any date of determination, an amount equal to the product of (a) ninety five
percent (95%) and (b) the Aggregate Loan Principal Balance as of such date of determination; provided that, for purposes of calculating the Minimum Required Hedge Amount, the Aggregate Loan Principal Balance shall be calculated
without regard to Loans made to finance the origination or acquisition of Floating Rate Leases. 

“Moody’s”. Moody’s Investor Service, Inc., or any successor thereto. 

“Multiemployer Plan”. Any multiemployer plan, as defined in Section 4001(a)(3) of ERISA with respect to which the
Borrower shall have any liability. 
 “Net Book Value”. With respect to any Owner Container (including any
Repossessed Owner Container), the Original Equipment Cost less accumulated depreciation based on the Depreciation Policy for Owner Containers. 
 “Net Income”. As of any date of determination, the net income (or loss) of the Borrower, as determined in accordance with GAAP, for the most recently completed Measurement Period.

 “Net Investment Value”. With respect to any Finance Lease, as of any date of determination, an amount equal
to the “net investment in finance lease” with respect to such Finance Lease and reflected on the books and records of the Borrower and determined in accordance with GAAP; provided, however, that the Net Investment Value of a Finance Lease
that is classified as a Defaulted Finance Lease shall be deemed to be zero. 
 “Non-Excluded Taxes”. Any taxes
other than: 
 (a) income taxes, branch profits taxes, franchise taxes or any other tax imposed on the net income
of a Lender or the Administrative Agent under the laws of the jurisdiction (or any political subdivision of taxing authority thereof or therein) in which such Lender or the Administrative Agent is organized or in which the principal office or
funding office of such Lender or the Administrative Agent is located or in which it is otherwise conducting business, but excluding any such taxes which would not have been imposed but for such Lender’s or the Administrative Agent’s
participation in the transactions under this Credit Agreement; 
 (b) any deduction, withholding or other
imposition of taxes that arises as a result of a present or former connection between a Lender or the Administrative Agent and the relevant jurisdiction imposing such tax, including carrying on business in, having a branch, agency or permanent
establishment in, or being resident in such jurisdiction but excluding any such connection which arises solely as a result of such Lender or the Administrative Agent having executed, performed its obligations under or received payment under any of
the Loan Documents or otherwise solely by virtue of the Loan Documents; 
 (c) any taxes imposed as a result of
failure to comply with Section 5.2.2(g); and 
 (d) any withholding tax imposed by a law in effect at
the time a Lender becomes a party hereto (or designates a new lending office), with respect to any interest payment made by or on account of any obligation of the Borrower to such Lender, except to the extent that such Lender (or its assignor, if
any) was entitled, at the time of the assignment (or designation of a new lending office), to receive additional amounts with respect to such withholding Tax pursuant to Section 5.2.2. 

  
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 “Obligations”. All of the following: 

(i) all obligations, liabilities and indebtedness (including, without limitation, principal, premium, interest (including,
without limitation, all interest that accrues after the commencement of any case, proceeding or other action relating to the bankruptcy, insolvency, reorganization or similar proceeding of Borrower at the rate provided for in the respective
documentation, whether or not a claim for post-petition interest is allowed in any such proceeding), reimbursement obligations for fees, costs and indemnities) of Borrower to the Lenders, the Administrative Agent and the Collateral Agent, whether
now existing or hereafter incurred under, arising out of, or in connection with, this Credit Agreement and the other Loan Documents (other than Interest Rate Hedging Agreements) and the due performance and compliance by Borrower with all of the
terms, conditions and agreements contained in this Credit Agreement and in such other Loan Documents (other than Interest Rate Hedging Agreements); and 
 (ii) all obligations, liabilities and indebtedness (including, without limitation, all interest that accrues after the commencement of any case, proceeding or other action relating to the bankruptcy,
insolvency, reorganization or similar proceeding of Borrower at the rate provided for in the respective documentation, whether or not a claim for post-petition interest is allowed in any such proceeding) owing by Borrower to the Interest Rate Hedge
Counterparties, whether now existing or hereafter incurred under, arising out of or in connection with any Interest Rate Hedging Agreement, whether such Interest Rate Hedging Agreement is now in existence or hereinafter arising, and the due
performance and compliance by Borrower with all of the terms, conditions and agreements contained in each such Hedging Agreement. 
 “OFAC”. The U.S. Department of the Treasury’s Office of Foreign Assets Control. 
 “OFAC Sanctions”. This term shall have the meaning set forth in Section 7.20. 
 “Operating Expenses”. This term shall have the meaning set forth in the Management Agreement. 
 “Operating Lease”. A Lease that is not a Finance Lease. 

“Original Equipment Cost”. With respect to any Owner Container, an amount equal to the sum of (a) the vendor’s
or manufacturer’s invoice price plus (b) reasonable and customary inspection, transport, and initial positioning costs necessary to put such Owner Container in service, plus (c) the Acquisition Fee and other fees, provided the
aggregate amount of fees described in this clause (c) shall not exceed 2.5% of the amount described in clauses (a) and (b). 
 “Other Taxes”. This term shall have the meaning set forth in Section 5.2.2(b). 
 “Owner Container”. As defined in the Management Agreement. 

“Owner Proceeds”. As defined in the Management Agreement. 

“Participant”. This term shall have the meaning set forth in Section 14.4. 

“Payment Date”. The 15th calendar day of each month or, if such day is not a Business Day, the immediately succeeding Business Day. 

“PBGC”. The Pension Benefit Guaranty Corporation established pursuant to Section 4002 of ERISA, or any successor
thereto. 

  
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 “Periodic Hedge Payment”. Any payment under an Interest Rate Hedging
Agreement other than a Hedge Termination Payment. 
 “Permitted Principal Withdrawal”. On the Maturity Date, an
amount equal to the lesser of (x) the excess of (i) the Aggregate Loan Principal Balance on such date, over (ii) the funds on deposit in the Trust Account on the Maturity Date available to make principal payments on the Loans in
accordance with the priority of any payments set forth in Section 3.2(a)(ix) or Section 3.2(b)(ix)(A), and (y) the amount then on deposit in the Cash Reserve Account. 

“Permitted Interest Withdrawal”. For any Payment Date, an amount equal to the lesser of: 

 

	 	(x)	the excess of (i) all interest (other than any incremental interest payable pursuant to the provisions of Section 5.8) on all Loans payable on such
Payment Date, over (ii) the funds on deposit in the Trust Account on such Payment Date available to make interest payments in accordance with the priority of payments set forth in Section 3.2(a)(vi) or 3.2(b)(vi) hereof, and

  

	 	(y)	the amount of funds and Eligible Investments then on deposit in the Cash Reserve Account. 

“Permitted Lien”. Any Lien permitted under Section 9.2. 

“Person”. An individual, any partnership, a corporation, a joint venture, a trust, an unincorporated organization, or a
government or any agency or political subdivision thereof. 
 “Plan”. Any employee pension plan (other than a
Multiemployer Plan) as defined in Section 3(35) of ERISA subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 307 of ERISA, and in respect of which the Borrower is an “employer” as defined in
Section 3(5) of ERISA. 
 “Pledged Owner Container”. This term shall have the meaning set forth in the
Security Agreement. 
 “Receivable”. With respect to any Lease as of any date of determination, any expected
future rental or other (e.g., purchase option) payment with respect to such Lease which has not yet become due. 

“Register”. This term shall have the meaning set forth in Section 14.3. 

“Related Parties”. With respect to any Person, such Person’s Affiliates and the partners, directors, officers,
employees, agents and advisors of such Person and of such Person’s Affiliates. 
 “Replacement Request”.
This term shall have the meaning set forth in Section 12.1(f). 
 “Repossessed Owner Container”.
Any Owner Container that the Borrower (or the Manager on behalf of the Borrower) has repossessed pursuant to an exercise of remedies under a Defaulted Finance Lease. 
 “Restricted Payment”. In relation to the Borrower, any (a) Distribution, (b) payment or prepayment by the Borrower of Indebtedness owing to the Borrower’s shareholders (or
other equity holders), or (c) cash payments under derivatives or other transactions with any financial institution, commodities or stock exchange or clearinghouse (a “Derivatives Counterparty”) obligating the Borrower to make
payments to such Derivatives Counterparty as a result of any change in market value of any Capital Stock of the Borrower. For purposes of clarification only, “Restricted Payments” shall not include any amounts owing by the Borrower to
either TL or WFCC pursuant to the terms of a Container Sale Agreement. 

  
 -22-

 “Returns”. This term shall have the meaning set forth in
Section 7.17. 
 “Revolving Credit Period”. The period commencing on the Closing Date and ending on
the earliest to occur of (a) the date that is the three year anniversary of the Closing Date, as such date may be extended from time to time in accordance with Section 15.12, (b) the date on which the Aggregate Commitments have
been terminated pursuant to Section 12.2(b) and (c) the date on which an Early Amortization Event occurs. The cure of an Early Amortization Event will not result in an automatic reinstatement of the Revolving Credit Period.

 “S&P”. Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.,
or any successor thereto. 
 “Sales Proceeds”. As defined in the Management Agreement. 

“Sanctioned Country”. A country subject to a sanctions program identified on the list maintained by OFAC and available
at http://www.treas.gov/offices/enforcement/ofac/programs, or as otherwise published from time to time. 
 “Sanctioned
Person”. Any of the following currently or in the future: (i) an individual, entity, or vessel named on the list of Specially Designated Nationals and Blocked Persons maintained by OFAC available at
http://www.treas.gov/offices/eotffc/ofac/sdn/index.html, and any entity in which such individual, entity, or vessel owns, directly or indirectly, a fifty percent or greater interest, or (ii) (A) an agency or instrumentality of, or an
entity owned or controlled by the government of a Sanctioned Country, (B) an entity located in or organized under the laws of a Sanctioned Country, or (C) a national or permanent resident of a Sanctioned Country, or a person located in a
Sanctioned Country, to the extent such agency, instrumentality, entity, or person is subject to OFAC Sanctions. 

“Scheduled Principal Payment Amount”. As follows: 

(a) On any Payment Date (other than the Maturity Date) on which no Early Amortization Event is continuing, the amount (if any) by which
(1) the Aggregate Loan Principal Balance on such date (determined prior to giving effect to any principal payments to be made on such Payment Date), exceeds (2) the Asset Base on such Payment Date; and 

(b) on the Maturity Date, the Aggregate Loan Principal Balance on such date. 

“Secured Party”. Each of the Administrative Agent, each Lender and each Interest Rate Hedge Counterparty. 

“Security Agreement”. That certain Security Agreement in the form of Exhibit C hereto, dated as of the date
hereof, by Borrower in favor of the Administrative Agent, for the benefit of the Secured Parties. 
 “Security
Documents”. The Security Agreement, the Control Agreement and other instruments and documents executed or delivered pursuant to any Security Document. 
 “Senior Designated Officer”. With respect to any Person, the Chief Executive Officer, the President, the Chief Financial Officer or any Vice President of such Person. 

“State”. Any state of the United States of America. 

“Subsidiary”. With respect to any Person, shall mean and include any corporation, partnership, association, limited
liability company, joint venture or other entity more than 50% of whose Voting Stock is at the time owned by such Person directly or indirectly through one or more Subsidiaries of such Person. 

  
 -23-

 “Synthetic Lease”. Any lease of goods or other property, whether real or
personal, (x) which is treated as an operating lease under GAAP and (y) in respect of which the Lessee retains or obtains ownership of the property so leased for U.S. Federal income tax purposes. 

“TEML”. Textainer Equipment Management Limited, a Bermuda exempted company. 

“Terminated Container”. As defined in the Management Agreement. 

“TGH”. Textainer Group Holdings Limited, a Bermuda exempted company. 

“TL”. Textainer Limited, a Bermuda exempted company. 

“TMCL Indenture”. The Second Amended and Restated Indenture, dated as of May 26, 2005, between Textainer Marine
Containers Limited, as Issuer, and Wells Fargo Bank, National Association, as indenture trustee, as such indenture may be amended, modified or supplemented from time to time in accordance with its terms. 

“Trading With the Enemy Act”. This term shall have the meaning set forth in Section 7.20. 

“Trust Account”. As defined in Section 3.2. 

“TWCL Distribution Account”. As defined in Section 3.6. 

“Type”. As to all or any portion of any Loan, its nature as a Base Rate Loan or a LIBOR Rate Loan. “ 

UCC”. The Uniform Commercial Code as in effect from time to time in the applicable jurisdiction. 

“Voting Stock”. Stock or similar interests, of any class or classes (however designated), the holders of which are at
the time entitled, as such holders, to vote for the election of a majority of the directors (or persons performing similar functions) of the corporation, association, trust or other business entity involved, whether or not the right to so vote
exists by reason of the happening of a contingency. 
 “WFB”. Wells Fargo Bank, National Association and its
successors and permitted assigns. 
 “WFCC”. Wells Fargo Container Corporation, an exempted company with
limited liability organized under the laws of Bermuda. 
 “Withdrawal Liability”. Liability to a Multiemployer
Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 
 1.2 Rules of Interpretation. 
 (a) A reference to any
document or agreement shall include such document or agreement as amended, modified or supplemented from time to time in accordance with its terms and the terms of this Credit Agreement. 

(b) The singular includes the plural and the plural includes the singular. 

(c) A reference to any law includes any amendment or modification to such law. 

(d) A reference to any Person includes its permitted successors and permitted assigns. 

  
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 (e) The words “include”, “includes”, and
“including” are not limiting. 
 (f) All terms not specifically defined in this Credit Agreement or in
the Management Agreement, which terms are defined in the UCC as in effect in the State of New York, have the meanings assigned to them therein, with the terms “instrument” and “chattel paper” being that defined under Article 9 of
the UCC. 
 (g) Reference to a particular “§” or Section refers to that section of this Credit
Agreement unless otherwise indicated. 
 (h) The words “herein”, “hereof”,
“hereunder” and words of like import shall refer to this Credit Agreement as a whole and not to any particular section or subdivision of this Credit Agreement. 

(i) Unless otherwise expressly indicated, in the computation of periods of time from a specified date to a later specified
date, the word “from” means “from and including,” the words “to” and “until” each mean “to but excluding,” and the word “through” means “to and including.” 

(j) This Credit Agreement and the other Loan Documents may use several different limitations, tests or measurements to
regulate the same or similar matters. All such limitations, tests and measurements are, however, cumulative and are to be performed in accordance with the terms thereof. 

(k) This Credit Agreement and the other Loan Documents are the result of negotiation among, and have been reviewed by
counsel to, among others, the Administrative Agent, the Lenders and the Borrower and are the product of discussions and negotiations among all parties. Accordingly, this Credit Agreement and the other Loan Documents are not intended to be construed
against the Administrative Agent or any of the Lenders merely on account of the Administrative Agent’s or any Lender’s involvement in the preparation of such documents. 
 1.3 Use of Defined Terms. Unless otherwise defined or the context otherwise requires, terms for which meanings are provided in this Credit Agreement shall have such meanings when used in
each Schedule and in each other Loan Document, notice and other communication delivered from time to time in connection with this Credit Agreement or any other Loan Document. 
 1.4 Accounting and Financial Determinations. (a) Unless otherwise specified, all accounting terms used herein or in any other Loan Document shall be interpreted, all accounting
determinations and computations hereunder or thereunder shall be made, and all financial statements required to be delivered hereunder or thereunder shall be prepared in accordance with GAAP consistently applied. 

(b) If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any
Loan Document, and either the Borrower or the Majority Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light
of such change in GAAP (subject to the approval of the Majority Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) the
Borrower shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this Credit Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio
or requirement made before and after giving effect to such change in GAAP. 
 (c) If the Borrower shall elect as
of the end of any financial reporting period to prepare its financial statements in accordance with International Financial Reporting Standards (as published by the International Accounting Standards Board) (“IFRS”) rather than
GAAP, then, following delivery to the Administrative Agent the information required to be delivered for such 

  
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financial reporting period, the parties hereto shall use their best efforts to amend (in a manner mutually satisfactory to the Administrative Agent, the Borrower and the Majority Lenders) the
thresholds or methods of calculation required under the Credit Agreement and the other Loan Documents such that compliance therewith is neither more nor less burdensome (as determined by the Majority Lenders in their sole discretion) to Borrower as
a result of such conversion to IFRS and, thereafter, all references in the Loan Documents to GAAP shall be deemed references to IFRS. 
  

	2.	COMMITMENTS OF LENDER. 

 2.1
Commitments to Make Loans. Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a “Loan”) to the Borrower from time to time, on any Business Day during the
Revolving Credit Period; provided, however, that (x) the principal amount of each Loan shall not exceed an amount equal to the product of (1) the Advance Rate then in effect and (2) the Net Investment Value of the Finance Lease
to be originated or acquired with the proceeds of such Loan, and (y) after giving effect to the requested Loan, the Aggregate Loan Principal Balance shall not exceed the lesser of (i) the Aggregate Commitments and (ii) the Asset Base,
calculated (in the case of clause (ii)) after giving effect to the origination or acquisition of the Finance Lease to be originated or acquired with the proceeds of such Loan. Loans shall be LIBOR Rate Loans or, under the circumstances set
forth in Section 5.4 or 5.5, a Base Rate Loan. 
 2.2 Requests for Loan. The Borrower shall give to the
Administrative Agent written notice in the form of Exhibit E hereto (or telephonic notice confirmed in a writing in the form of Exhibit D hereto) of each Loan requested hereunder (a “Loan Request”) no later than 3:00
p.m. (New York time) three (3) LIBOR Business Days prior to any proposed Funding Date. Each such Loan Request shall specify (i) the principal amount of the Loan requested, (ii) the proposed Funding Date of such Loan and (iii) the
Interest Period for such Loan. The Administrative Agent shall promptly notify each of the Lenders of such Loan Request. Each Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Loan requested
from the Lenders on the proposed Funding Date. The Borrower shall not be permitted to request any Loan at any time when the Revolving Credit Period is not in effect; upon the expiration or termination of the Revolving Credit Period, any unfunded
portion of the Commitments shall terminate, automatically and without notice or action of any kind. 
 2.3 Evidence of Loan. The
Loans made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the Administrative Agent in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each
Lender shall be conclusive absent manifest error of the amount of the Loans made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect
the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in
respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender
(through the Administrative Agent) a promissory note substantially in the form of Exhibit E hereto, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach schedules to its Note and
endorse thereon the date, type, amount and maturity of its Loans and payments with respect thereto. 
 2.4 Termination or Reduction of
Commitments. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the
Administrative Agent not later than 3:00 p.m. (New York time) three (3) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $5,000,000 or any whole multiple of
$1,000,000 in excess thereof, and (iii) the Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Aggregate Loan Principal Balance would exceed the
Aggregate Commitments (unless the Borrower 

  
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simultaneously (x) prepays the Loans in the amount necessary to cause the Aggregate Commitments to equal or exceed the Aggregate Loan Principal Balance, and (y) pays all amounts payable
to any Interest Rate Hedge Counterparty related to such reduction). The Administrative Agent shall promptly notify the Lenders and each Interest Rate Hedge Counterparty of any such notice of termination or reduction of the Aggregate Commitments. Any
reduction of the Aggregate Commitments shall be applied to the Commitment of each Lender according to its Commitment Percentage. All Fees accrued until the effective date of any termination or reduction of the Aggregate Commitments shall be paid on
the effective date of such termination or reduction. 
 2.5 Funding by Lenders; Presumption by Administrative Agent. Unless the
Administrative Agent shall have received notice from a Lender prior to the proposed Funding Date that such Lender will not make available to the Administrative Agent such Lender’s Commitment Percentage of such requested Loan, the Administrative
Agent may assume that such Lender has made such amount available on such date in accordance with Section 2.1, and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender
has not in fact made its Commitment Percentage of the applicable requested Loan available to the Administrative Agent, then the applicable Lender agrees to pay to the Administrative Agent forthwith on demand such corresponding amount in immediately
available funds with interest thereon, for each day from and including the date such amount is made available to the Borrower to, but excluding, the date of payment to the Administrative Agent, at, in the case of a payment to be made by such Lender,
the greater of the Base Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. If such Lender pays its Commitment Percentage of the applicable Loan to the Administrative Agent,
then the amount so paid shall constitute such Lender’s Commitment Percentage of the requested Loan. 
 2.6 Failure to Satisfy
Conditions Precedent. If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the provisions of this Credit Agreement, and such funds are not made available to the Borrower by the
Administrative Agent because the conditions to the applicable Loan set forth in Section 10 or 11 are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as
received from such Lender) to such Lender, without interest. 
 2.7 Obligations of Lenders Several. The obligations of the Lenders
hereunder to make Loans and to make payments pursuant to this Credit Agreement are several and not joint. The failure of any Lender to make any Loan or to make any payment under this Credit Agreement on any date required hereunder shall not relieve
any other Lender of its corresponding obligation to do so on such date. No Lender shall be responsible for the failure of any other Lender to so make its Loan or to make its payment under this Credit Agreement and no Lender shall be required to fund
more than its Commitment Percentage of any Loan. 
 2.8 Revolving Credit Facility. The credit facility evidenced by this Credit
Agreement is a revolving credit facility. Accordingly, the Borrower will, subject to compliance with the terms of this Credit Agreement, have the right during the Revolving Credit Period to reborrow any amounts repaid to the Lenders in accordance
with the terms of this Credit Agreement. Subsequent to the expiration or termination of the Revolving Credit Period, the credit facility evidenced by this Credit Agreement is a term facility and the Borrower will not be entitled to reborrow amounts
repaid to the Lenders in accordance with this Credit Agreement. 
  

	3.	TRUST ACCOUNT; CASH RESERVE ACCOUNT. 

 3.1 Trust Account. 
 (a) On or about the Closing
Date, the Borrower shall establish a deposit account, in the name of the Borrower for the benefit of the Administrative Agent, in a jurisdiction outside of the United States and with a bank or trust company acceptable to the Borrower, the
Administrative Agent and the Majority Lenders (the “Trust Account”). The Administrative Agent, for the benefit of the Secured Parties, shall at all times have a first priority Lien in the Trust Account and all funds and Eligible
Investments therein. 

  
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 (b) The Borrower shall instruct the Manager to deposit all Owner Proceeds
(as defined in the Management Agreement) into the Trust Account, at the times and in the amounts required pursuant to the terms of the Management Agreement. Notwithstanding the foregoing, so long as no Manager Default is continuing, the Manager
shall be permitted to withhold, from amounts otherwise required to be deposited into the Trust Account, the amount of any Manager Fee and Manager Fee Arrearage then due and payable. 
 3.2 Disbursement of Funds From Trust Account. On each Payment Date, after distribution of amounts from the Cash Reserve Account pursuant to Section 3.3, the Manager, based on the
Manager Report, shall distribute funds on deposit in the Trust Account in an amount equal to the Available Distribution Amount. Such Available Distribution Amount shall be distributed to the following Persons in the following order of priority, with
no payment being made toward any item unless and until all prior items have been fully satisfied: 
 (a) On each
Payment Date on which no Early Amortization Event or Event of Default is continuing, to the following Persons and in the following order of priority: 
 (i) To the Manager, the Manager Fee and any Manager Fee Arrearage, in each case to the extent not previously withheld or withdrawn by, or distributed to, the Manager in accordance with the terms of the
Loan Documents; 
 (ii) To the Administrative Agent, the Administrative Agent Fee then due and owing; 

(iii) To the Manager, the amount of any unreimbursed Manager Advances; 

(iv) To the Expense Payment Account, an amount equal to Borrower Expenses then due and payable or that are scheduled to be
paid prior to the next succeeding Payment Date; provided, however, that the amount payable pursuant to this clause (iv) in any twelve month period shall not exceed the difference of (A) One Hundred Twenty Thousand Dollars
($120,000) minus (B) amounts paid pursuant to Section 5.4 of the Management Agreement; 
 (v) To each
Interest Rate Hedge Counterparty, on a pro rata basis based on the amounts then owing pursuant to this clause (v), the amount of any Periodic Hedge Payment (but not Hedge Termination Payments) then due and payable to it pursuant to the
terms of any Interest Rate Hedging Agreement then in effect, together with any unpaid Periodic Hedge Payments from prior Payment Dates and any interest thereon as specified in such Interest Rate Hedging Agreement; 

(vi) To the Lenders, on a pro rata basis based on the amounts then owing pursuant to this clause (vi), all
unpaid interest (other than any incremental interest owing pursuant to Section 5.8) then due and owing on all unpaid Loans; 
 (vii) To the Lenders, on a pro rata basis, any Commitment Fee then due and payable and any unpaid Commitment Fees from prior Payment Dates; 

(viii) To the Cash Reserve Account, the amount (if any) necessary to restore the balance on deposit therein to the Cash
Reserve Amount for such Payment Date; 
 (ix) To each Lender, on a pro rata basis (calculated based on the
then unpaid principal balance of their respective unpaid Loans), an amount equal to its Commitment Percentage of the Scheduled Principal Payment Amount for such Payment Date; 

  
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 (x) To each Interest Rate Hedge Counterparty, on a pro rata basis
based on the amounts then owing pursuant to this clause (x), the amount of any unpaid payments then due and payable (including Hedge Termination Payments) pursuant to the terms of any Interest Rate Hedging Agreement then in effect;

 (xi) To each Lender, on a pro rata basis based on amounts then owing to each such Lender pursuant to
this clause (xi), all taxes, increased costs, indemnification, expenses, incremental interest owing pursuant to Section 5.8 hereof and any other amounts due and owing to such Lender pursuant to the terms of the Loan Documents;

 (xii) To the Manager in the amount of any unpaid indemnification payments, expense reimbursements and all
other amounts payable to the Manager pursuant to the terms of the Management Agreement; 
 (xiii) To the officers
and directors of the Borrower, the amount of any unpaid indemnification payments or expense reimbursements then due and payable to them by the Borrower; and 
 (xiv) To the TWCL Distribution Account, any remaining Available Distribution Amount on deposit in the Trust Account after giving effect to the payments set forth in the foregoing clauses
(i) through (xiii) of this Section 3.2(a). 
 (b) On each Payment Date on which
an Early Amortization Event is continuing but no Event of Default is continuing, to the following Persons and in the following order of priority: 
 (i) To the Manager, the Manager Fee and any Manager Fee Arrearage, in each case to the extent not previously withheld or withdrawn by, or distributed to, the Manager in accordance with the terms of the
Loan Documents; 
 (ii) To the Administrative Agent, the Administrative Agent Fee then due and owing; 

(iii) To the Manager, the amount of any unreimbursed Manager Advances; 

(iv) To the Expense Payment Account, an amount equal to Borrower Expenses then due and payable or that are scheduled to be
paid prior to the immediately succeeding Payment Date; provided, however, that the amount payable pursuant to this clause (iv) in any twelve month period shall not exceed the difference of (A) One Hundred Twenty Thousand
Dollars ($120,000) minus (B) amounts paid pursuant to Section 5.4 of the Management Agreement; 
 (v)
To each Interest Rate Hedge Counterparty, on a pro rata basis based on the amounts then owing pursuant to this clause (v), the amount of any Periodic Hedge Payment (but not Hedge Termination Payments) then due and payable pursuant to
the terms of any Interest Rate Hedging Agreement then in effect, together with any unpaid Periodic Hedge Payments from prior Payment Dates and any such amounts past due and any interest thereon; 

(vi) To the Lenders, on a pro rata basis based on the amounts then owing pursuant to this clause (vi), all
unpaid interest (other than any incremental interest owing pursuant to Section 5.8) then due and owing on all unpaid Loans; 

  
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 (vii) To the Lenders, on a pro rata basis, any Commitment Fee then
due and payable and any unpaid Commitment Fees from prior Payment Dates; 
 (viii) To the Cash Reserve Account,
the amount (if any) necessary to restore the balance on deposit therein to the Cash Reserve Amount for such Payment Date; 
 (ix) Each of the following on a pro rata basis in accordance with the amounts referenced in clauses (A) and (B): 

(A) To each Lender, on a pro rata basis (calculated based on the then unpaid principal balance of their respective
Loans), an amount equal to its Commitment Percentage of the Aggregate Loan Principal Balance; and 
 (B) To each
Interest Rate Hedge Counterparty, on a pro rata basis based on the amounts then owing pursuant to this clause (ix)(B), the amount of any unpaid payments then due and payable (including Hedge Termination Payments) pursuant to the terms
of any Interest Rate Hedging Agreement then in effect; 
 (x) To each Lender, on a pro rata basis based on
amounts then owing to each such Lender pursuant to this clause (x), all taxes, increased costs, indemnification, expenses, incremental interest owing pursuant to Section 5.8 hereof, and any other amounts due and owing to such
Lender pursuant to the terms of the Loan Documents; 
 (xi) To the Manager in the amount of any unpaid
indemnification payments, expense reimbursements and all other amounts payable to the Manager pursuant to the Management Agreement; and 
 (xii) To the officers and directors of the Borrower, the amount of any unpaid indemnification payments or expense reimbursements then due and payable to them by the Borrower; 

(xiii) To the TWCL Distribution Account, any remaining Available Distribution Amount on deposit in the Trust Account after
giving effect to the payments set forth in clauses (i) through (xii) of this Section 3.2(b). 
 (c) On each Payment Date on which an Event of Default is continuing, to such Persons, and in the order of priority, as set forth in Section 12.4. 

3.3 Cash Reserve Account. 
 (a) On or about the Closing Date, the Borrower shall establish a deposit account, in the name of the Borrower for the benefit of the Administrative Agent, in a jurisdiction outside of the United States
and with a bank or trust company acceptable to the Administrative Agent and the Majority Lenders (the “Cash Reserve Account”). The Administrative Agent, for the benefit of the Secured Parties, shall at all times have a first
priority Lien in the Cash Reserve Account and all funds and Eligible Investments therein. The Borrower shall not establish any additional cash reserve account without prior written notice to, and the prior written consent of, the Administrative
Agent in each instance. 
 (b) On each Funding Date, the Borrower will deposit, or cause to be deposited, into
the Cash Reserve Account, funds in an amount necessary to restore the amount on deposit in the Cash Reserve Account to the Cash Reserve Amount. Amounts shall also be deposited in the Cash Reserve Account at the times and in the amounts set forth in
Section 3.2. 

  
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 (c) On each Payment Date, the Manager shall, in accordance with the Manager
Report or, absent a Manager Report, pursuant to written instructions from the Majority Lenders, withdraw from the Cash Reserve Account and remit directly to each Lender its Commitment Percentage of an amount equal to the Permitted Interest
Withdrawal. On the Maturity Date, the Manager shall, in accordance with the Manager Report or, absent a Manager Report, pursuant to instructions from the Majority Lenders, withdraw from the Cash Reserve Account and remit to each Lender its
Commitment Percentage of the Permitted Principal Withdrawal for such date. 
 (d) On each Payment Date, prior to
any distribution of Available Distribution Amount pursuant to Section 3.2, the Manager shall, in accordance with the Manager Report, or absent a Manager Report, pursuant to written instructions from the Majority Lenders, withdraw from
the Cash Reserve Account and deposit in the Trust Account, the excess (if any) of (A) amounts then on deposit in the Cash Reserve Account (after giving effect to any withdrawals therefrom on such Payment Date) over (B) the Cash Reserve
Amount. On the Maturity Date, any remaining funds in the Cash Reserve Account shall be deposited in the Trust Account and distributed in accordance with the provisions of Section 3.2 of this Credit Agreement. 

3.4 Investments. 
 (a) Funds at any time held in the Trust Account or the Cash Reserve Account shall be invested and reinvested in one or more Eligible Investments, as directed by (i) so long as no Event of Default is
then continuing, the Borrower or its designee, or (ii) so long as an Event of Default has occurred and is continuing, the Administrative Agent or its designee. 

(b) Each investment made pursuant to this Section 3.4 on any date shall mature not later than the Business Day
immediately preceding the Payment Date next succeeding the day such investment is made, except that any investment made on the day preceding a Payment Date shall mature on such Payment Date. 

(c) Pursuant to the Security Agreement, all monies on deposit in the Trust Account and the Cash Reserve Account, together
with any deposits or securities in which such moneys may be invested or reinvested, and any gains from such investments, constitute Collateral. 

3.5 Expense Payment Account. 
 (a) On or about the Closing Date, the Borrower shall establish a deposit account, in the name of the Borrower for the benefit of the Administrative Agent, in a jurisdiction outside of the United States
and with a bank or trust company acceptable to the Borrower, the Administrative Agent and the Majority Lenders (the “Expense Payment Account”). The Administrative Agent, for the benefit of the Secured Parties, shall at all times
have a first priority Lien in the Expense Payment Account and all funds on deposit therein. 
 (b) So long as no
Event of Default has occurred and is then continuing, the Borrower may withdraw funds from Expense Payment Account to the extent, but only to the extent, that such funds are used to pay Borrower Expenses that are then due and payable. 

3.6 TWCL Distribution Account. 
 (a) On or prior to the Closing Date, the Borrower shall establish a deposit account, in the name of the Borrower, in a jurisdiction outside of the United States (the “TWCL Distribution
Account”). The TWCL Distribution Account and amounts therein will not be subject to a Lien in favor of the Administrative Agent or any of the Secured Parties. 

(b) Amounts on deposit in the TWCL Distribution Account shall be paid to, or otherwise made available for use by, the
shareholders of the Borrower. 

  
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	4.	PROVISIONS APPLICABLE TO ALL LOANS. 

 4.1 Interest on Loans. 
 (a) Except as otherwise
provided in Section 5.8, each Loan shall bear interest during each Interest Period relating to all, or any portion of, such Loan at the following rates: 

(i) To the extent that all or any portion of a Loan bears interest during such Interest Period at the Base Rate, such Loan
(or such portion thereof) shall bear interest during such Interest Period at the rate per annum equal to the sum of (i) the Applicable Margin and (ii) the Base Rate in effect from time to time. 

(ii) To the extent that all or any portion of a Loan bears interest during such Interest Period at the LIBOR Rate, such
Loan or such portion shall bear interest during such Interest Period at a rate per annum equal to the sum of (i) the LIBOR Rate and (ii) the Applicable Margin. 
 The Borrower promises to pay interest at the applicable interest rate set forth above on all Loans or any portion thereof outstanding during each Interest Period monthly in arrears on each Payment Date.
Such interest shall be calculated in accordance with Section 5.3. 
 (b) In no event shall the
interest charged with respect to a Loan exceed the maximum amount permitted by applicable law. If at any time the interest rate charged with respect to a Loan exceeds the maximum rate permitted by applicable law, the rate of interest to accrue
pursuant to such Loan shall be limited to the maximum rate permitted by applicable law. 
 (c) No Interest Period
relating to a Loan or any portion thereof shall extend beyond the Maturity Date. 
 4.2 Repayments and Prepayments of the Loans.

 4.2.1 Repayment of Loans. On each Payment Date (other than the Maturity Date), the Aggregate Loan Principal
Balance shall be payable in an amount equal to (i) if no Early Amortization Event is then continuing, the Scheduled Principal Payment Amount for such Payment Date, or (ii) if an Early Amortization Event is then continuing, the Aggregate
Loan Principal Balance to the extent that funds are available for such purpose in accordance with the priority of payments set forth in Section 3.2(b)(ix)(A) on such Payment Date. The Aggregate Loan Principal Balance, and all accrued
interest and other amounts owing on, or with respect to, the Loans shall be payable in full on the earlier to occur of (a) the Maturity Date and (b) the date on which the Loans and the other Obligations have been declared due and payable
in accordance with the provisions of Section 12.2(a). 
 4.2.2 Optional Prepayment of Loans. The
Borrower shall have the right at any time to prepay one or more of the Loans on or before the Maturity Date, as a whole, or in part, upon delivery of written notice to the Administrative Agent not later than 1:00 p.m. (New York City time) on the
Business Day prior to such prepayment, without premium or penalty, provided that (a) each partial prepayment shall be in the principal amount of $250,000 and multiples of $50,000 in excess thereof and (b) simultaneously with such
prepayment, the Borrower shall pay to (i) each Lender, an amount equal to such Lender’s Breakage Cost (if any) related to such prepayment, and (ii) each Interest Rate Hedge Counterparty, an amount equal to all amounts (including
termination payments) payable (if any) pursuant to the terms of the related Interest Rate Hedging Agreement in connection with such prepayment. The Administrative Agent will promptly notify each Lender and each Interest Rate Hedge Counterparty of
its receipt of each such notice, and of the amount of such Lender’s Commitment Percentage of such prepayment. Any prepayment of principal of a Loan shall include all interest accrued to the date of prepayment. 

  
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 4.2.3 Application of Payments. All payments of principal made pursuant to
Section 4.2.1 or 4.2.2 shall be applied to the Loans of the Lenders in accordance with their respective Commitment Percentages. Any principal payment received by a Lender pursuant to Section 4.2.1 or 4.2.2 shall
be applied to reduce the principal balance of all unpaid Loans owing to such Lender on a pro rata basis (based on the unpaid principal balance of each such Loan). 
 4.3 Payments by Borrower; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to
the Administrative Agent for the account of the Lenders hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon
such assumption, distribute to the Lenders the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed
to such Lender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Base Rate and a
rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. A notice of the Administrative Agent to any Lender or the Borrower with respect to any amount owing under this Section 4.3
shall be conclusive, absent manifest error. 
 4.4 Sharing of Payments by Lenders. If any Lender shall, by exercising any right of
setoff or counterclaim or otherwise, obtain payment in respect of any principal of, or interest on, any of the Loans made by it resulting in such Lender’s receiving payment of a proportion of the aggregate amount of such Loans or any accrued
interest thereon greater than its Commitment Percentage thereof, then the Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase (for cash at face value) participations in the
Loans of the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with their respective Commitment Percentages, provided that: 

(a) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such
participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and 
 (b) the provisions of this Section 4.4 shall not be construed to apply to (x) any payment made by the Borrower pursuant to and in accordance with the express terms of this Credit
Agreement or (y) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans to any assignee or participant, other than to the Borrower, TL or any Affiliate of TL (as to which the
provisions of this Section 4.4 shall apply). 
 The Borrower consents to the foregoing and agrees, to
the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of setoff and counterclaim with respect to such participation as
fully as if such Lender were a direct creditor of the Borrower in the amount of such participation. 
 4.5 Funding Source. Nothing
herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or
manner. 

  
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	5.	CERTAIN GENERAL PROVISIONS. 

5.1 Fees. 

5.1.1 Commitment Fee. The Borrower agrees to pay on each Payment Date during the Revolving Credit Period to the
Administrative Agent, for the accounts of the Lenders in accordance with their respective Commitment Percentages, a commitment fee (the “Commitment Fee”) calculated at the Commitment Fee Percentage on the average daily amount,
during the most recently ended Collection Period, by which the Aggregate Commitment exceeds the Aggregate Loan Principal Balance; provided, however, that a Lender shall not be entitled to receive a Commitment Fee for such period as such Lender is
classified as a Defaulting Lender. The Commitment Fee shall be payable in arrears on each Payment Date for the most recently ended Collection Period commencing on the first such date following the date hereof, with a final payment on the expiration
or termination of the Revolving Credit Period. 
 5.1.2 Other Fees. The Borrower shall pay to the Administrative
Agent and the Lenders the fees in the amounts and at the times specified in the Administrative Agent Fee Letter. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. The Borrower shall also pay to the
Administrative Agent and the Lenders such fees as shall have been separately agreed upon in writing in the amounts and at the times so specified. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever.

 5.2 Funds for Payments. 
 5.2.1 Payments to Administrative Agent. All payments of principal, interest, Fees and any other amounts due hereunder or under any of the other Loan Documents shall be made on the due date
thereof to the Administrative Agent in Dollars, for the accounts of the Lenders and the Administrative Agent, at the Administrative Agent’s Office or at such other place that the Administrative Agent may from time to time designate, in each
case at or about 1:00 p.m. (New York time or other local time at the place of payment) and in immediately available funds. 

5.2.2 No Offset, etc. 
 (a) Subject to Section 5.2, all payments by the Borrower hereunder and under any of the other Loan Documents shall be made without recoupment, setoff or counterclaim and free and clear of and
without deduction for any taxes (including interest, penalties and additions to tax), levies, imposts, duties, charges, fees, deductions, withholdings, now or hereafter imposed or levied by any jurisdiction or any political subdivision thereof or
taxing or other authority therein unless the Borrower is compelled by law to make such deduction or withholding. If any Non-Excluded Taxes are imposed under applicable law upon the Borrower with respect to any amount payable by it hereunder or under
any of the other Loan Documents, the Borrower will pay to the Administrative Agent, for the account of the Lenders or the Administrative Agent (as the case may be) in accordance with the priority of payments set forth in Section 3.2(a)
or 3.2(b) hereof, as applicable, such additional amount in Dollars as shall be necessary to enable the Lenders or the Administrative Agent to receive the same net amount which the Lenders or the Administrative Agent would have received on
such due date had no such Non-Excluded Taxes been imposed upon the Borrower. The Borrower will deliver promptly to the Administrative Agent certificates or other valid vouchers for all taxes or other charges deducted from or paid with respect to
payments made by the Borrower under such other Loan Document. 
 (b) In addition, the Borrower agrees to pay to
the relevant Governmental Authority in accordance with applicable law (or to reimburse the Administrative Agent or Lender for amounts paid by such Person), any current or future stamp or documentary taxes, excise tax, charges or similar levies
(including, without limitation, mortgage recording taxes, transfer taxes and similar fees) imposed by the United States or any taxing authority thereof or therein that arise from any payment made hereunder (“Other Taxes”).

 (c) Subject to Section 5.2, the Borrower agrees to indemnify the Lenders and the Administrative
Agent for the full amount of Non-Excluded Taxes (including additional amounts with respect thereto) and Other Taxes paid by Lender or Administrative Agent, and any liability (including penalties, interest and expenses) arising therefrom or with
respect thereto (other than amounts arising from the gross negligence or willful misconduct of the Lenders or the Administrative Agent, as the case may be), provided that the Lenders or the Administrative Agent, as the case may be, shall have
provided the Borrower with evidence, reasonably satisfactory to the Borrower, of payment of Non-Excluded Taxes or Other Taxes, as the case may be. 

  
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 (d) Any Lender or the Administrative Agent that becomes entitled to the
payment of additional amounts pursuant to Section 5.2.2(a) or indemnification pursuant to Section 5.2.2(c), shall use reasonable efforts (consistent with applicable law) to file any document reasonably requested by the
Borrower or, with respect to a Lender, to change the jurisdiction of its applicable lending office if the making of such a filing or change of office, as the case may be, would avoid the need for or reduce the amount of any payment of such
additional amounts that may thereafter accrue and would not, in the good faith determination of such Lender or the Administrative Agent, as applicable, be disadvantageous to it. 

(e) If a Lender or the Administrative Agent receives any refund or credit with respect to taxes for which the Borrower has
paid any additional amounts pursuant to Section 5.2.2(a), then such Lender or the Administrative Agent, as applicable, shall promptly pay to the Borrower an amount equal to such refund (but only to the extent of indemnity payments made
under this Section) with respect to the Indemnified Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative Agent or such Lender, as the case may be, and without interest (other than any interest
paid by the relevant Governmental Authority with respect to such refund); provided, however, that (i) the Borrower agrees to promptly return any amount paid to the Borrower pursuant to this Section 5.2.2(e) upon notice from such
Lender or the Administrative Agent, as applicable, that such refund or any portion thereof is required to be repaid to the relevant taxing authority, (ii) nothing in this Section 5.2.2(e) shall require a Lender to disclose any
confidential information to the Borrower (including, without limitation, its tax returns), and (iii) no Lender shall be required to pay any amounts pursuant to this Section 5.2.2(e) at any time while a Default or Event of Default
exists (provided, that, upon the waiver or cure of any such Default or Event of Default, all such amounts that would otherwise be required to be paid pursuant to this Section 5.2.2(e) but for the effect of this clause
(iii) shall be promptly so paid). 
 (f) If the Borrower determines in good faith that a reasonable
basis exists for contesting any Non-Excluded Taxes for which additional amounts have been paid pursuant to Section 5.2.2(a), the relevant Lender or Administrative Agent (to the extent such Person reasonably determines in good faith that
it will not suffer any adverse effect as a result thereof) shall cooperate with the Borrower in challenging such Non-Excluded Taxes, at the Borrower’s expense, if so requested by the Borrower in writing. 

(g) Any Lender that is entitled to an exemption from, or reduction of, withholding tax with respect to payments made under
this Credit Agreement or any other Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation
prescribed by applicable law as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if requested by the Borrower or the Administrative Agent, shall deliver such other documentation
prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information
reporting requirements. 
 5.3 Computations. All computations of interest on the Loans and of Fees shall be based on a 360-day
year and paid for the actual number of days elapsed. Except as otherwise provided in the definition of the term “Interest Period” with respect to LIBOR Rate Loans, whenever a payment hereunder or under any of the other Loan Documents
becomes due on a day that is not a Business Day, the due date for such payment shall be extended to the next succeeding Business Day, and interest shall accrue during such extension. 

  
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 5.4 Inability to Determine LIBOR Rate. In the event, prior to the commencement of any Interest
Period relating to any LIBOR Rate Loan, any Lender shall determine that (a) adequate and reasonable methods do not exist for ascertaining the LIBOR Rate that would otherwise determine the rate of interest to be applicable to any LIBOR Rate Loan
during any Interest Period or (b) the LIBOR Rate determined, or to be determined, for such Interest Period will not adequately and fairly reflect the cost to such Lender of making or maintaining their LIBOR Rate Loans during such period, such
Lender shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower) to the Borrower and the Administrative Agent. In such event (i) any Loan Request with respect to LIBOR Rate Loans shall be
automatically withdrawn and shall be deemed a request for Base Rate Loans, (ii) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (iii) the
obligations of the Lenders to make LIBOR Rate Loans shall be suspended until the affected Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent shall so notify the Borrower and
the Administrative Agent and each Base Rate Loan shall automatically convert to a LIBOR Rate Loan on the last day of the then current Interest Period. 
 5.5 Illegality. Notwithstanding any other provisions herein, if any present or future law, regulation, treaty or directive or the interpretation or application thereof shall make it unlawful
for any Lender to make or maintain LIBOR Rate Loans, such Lender shall forthwith give notice of such circumstances to the Borrower and the other Lenders and thereupon (a) the commitment of such Lender to make LIBOR Rate Loans shall forthwith be
suspended and (b) such Lender’s Loans then outstanding as LIBOR Rate Loans, if any, shall be converted automatically to Base Rate Loans on the last day of each Interest Period applicable to such LIBOR Rate Loans or within such earlier
period as may be required by law. The Borrower hereby agrees promptly to pay within forty five (45) days following demand, to the applicable Lender, all Breakage Costs associated with such Breakage Event. 

5.6 Additional Costs; Capital Adequacy. 
 5.6.1 Changes in Law. If any Change in Law, other than changes in the rate of tax on the overall net income of a Lender or taxes other than Non-Excluded Taxes, shall: 

(a) impose, modify, increase or render applicable (other than to the extent specifically provided for elsewhere in this
Credit Agreement, including without limitation, to the extent considered in the calculation of the LIBOR Rate) any special deposit, reserve, assessment, liquidity, capital adequacy, insurance charge or other similar requirements (whether or not
having the force of law) against assets held by, or deposits in or for the account of, or loans by, or letters of credit issued by, or commitments of an office of any Lender, or 

(b) impose on any Lender or the Administrative Agent any other conditions, requirements, cost or expense with respect to
this Credit Agreement, the other Loan Documents, the LIBOR Rate Loans, such Lender’s Commitment to make LIBOR Rate Loans, or any class of loans or commitments of which any of the LIBOR Rate Loans or such Lender’s Commitment to make LIBOR
Rate Loans forms a part, 
 and the result of any of the foregoing is: 

(i) to increase the cost to any Lender of making, funding, issuing, renewing, extending or maintaining any of the LIBOR
Rate Loans or such Lender’s Commitment to make LIBOR Rate Loans, or 
 (ii) to reduce the amount of
principal, interest, or other amount payable to such Lender or the Administrative Agent hereunder on account of such Lender’s Commitment to make LIBOR Rate Loans, or any of the LIBOR Rate Loans, or 

  
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 (iii) to require such Lender or the Administrative Agent to make any payment
or to forego any interest or other sum payable hereunder in respect of any LIBOR Rate Loans, the amount of which payment or foregone interest or other sum is calculated by reference to the gross amount of any sum receivable or deemed received by
such Lender or the Administrative Agent from the Borrower hereunder in respect thereof, 
 then, subject to
Section 5.6.3, Borrower shall pay, as set forth in Section 5.6.4, such additional amounts to compensate such Lender for such increased cost or such reduction. 

5.6.2 Capital Adequacy. If, after the date hereof, any Lender or the Administrative Agent determines that any Change in Law
has the effect of reducing the return on such Lender’s Commitment to a level below that which such Lender or the Administrative Agent could have achieved but for such Change in Law (taking into consideration such Lender’s or the
Administrative Agent’s then existing policies with respect to capital adequacy and assuming full utilization of such entity’s capital) by any amount deemed by such Lender or the Administrative Agent (as the case may be) to be material,
then such Lender or the Administrative Agent may notify the Borrower of such fact. To the extent that the amount of such reduction in the return on capital is not reflected in the Base Rate or LIBOR Rate, the Borrower agrees to pay, subject to
Section 5.6.3, such Lender or the Administrative Agent (as the case may be), in accordance with Section 5.6.4, for the amount of such reduction. 
 5.6.3 Lookback; Nondiscrimination. Borrower shall only be liable for amounts in respect of increased costs or reduced returns for the period of up to ninety (90) days prior to the date
on which such demand was made, and (y) such Lender shall have required similarly situated borrowers or obligors to pay similar amounts with respect to such increased costs or reduced returns. 

5.6.4 Certificates for Reimbursement. A certificate of the applicable Lender claiming compensation under
Section 5.6.1 or 5.6.2 shall be sent to Borrower and shall be conclusive absent manifest error; provided that such certificate (i) sets forth in reasonable detail the amount or amounts payable to such Lender pursuant to
Section 5.6.1 or 5.6.2 (as applicable), (ii) explains the methodology used to determine such amount and (iii) states that such Lender has required similarly situated borrowers or obligors to pay similar amounts with
respect to such increased costs or reduced returns. The Borrower shall pay to the applicable Lender the amount as due on any such certificate on the following Payment Date in accordance with the priority of payments set forth in
Section 3.2(a) or (b), as applicable. 
 5.7 Indemnity. The Borrower agrees to indemnify each Lender and to
hold each Lender harmless from and against any Breakage Costs arising out of, or related to, a Breakage Event. 
 5.8 Interest After
Default. (a) Overdue principal and (to the extent permitted by applicable law) overdue interest on the Loans and all other overdue amounts payable hereunder or under any of the other Loan Documents shall bear interest compounded monthly
and payable on demand at a rate per annum equal to two percent (2%) above the then applicable rate of interest under this Credit Agreement or the other Loan Documents until such amount shall be paid in full (after as well as before
judgment). 
 (b) Without duplication of Section 5.8(a), during any period during which an Event of
Default has occurred and is continuing, the principal amount of the Loans shall bear interest compounded monthly and payable on demand at a rate per annum equal to two percent (2%) above the rate of interest then applicable to the Loans
until such amount shall be paid in full (after as well as before judgment). 
  

	6.	COLLATERAL SECURITY. 

6.1 Security of Borrower. Subject to the Security Documents, the Obligations are and shall continue to be secured by a first priority
(subject only to Permitted Liens), perfected security interest in the Collateral specified in the Security Documents, whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which the Borrower is a party.

  
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	7.	REPRESENTATIONS AND WARRANTIES. 

 In order to induce the Lenders to enter into this Credit Agreement and to make the Loans as provided for herein, Borrower makes the following representations and warranties to the Administrative Agent and
Lenders, all of which shall survive the execution and delivery of this Credit Agreement and the making of the Loans (with the occurrence of each Funding Date being deemed to constitute a representation and warranty that the matters specified in this
Section 7 are true and correct in all material respects on and as of such Funding Date, unless stated to relate to a specific earlier date, in which case such representations and warranties shall be true and correct in all material
respects as of such earlier date): 
 7.1 Company Status. Borrower (i) is a duly organized and validly existing Company in
good standing (or its equivalent) under the laws of the jurisdiction of its organization except where the failure to be so duly organized, validly existing and in good standing, either individually or in the aggregate, would not reasonably be
expected to have a Material Adverse Effect, (ii) has the Company power and authority to own its property and assets and to transact the business in which it is presently engaged, except where the failure to have such power and authority, either
individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect and (iii) is duly qualified and is authorized to do business and is in good standing (or its equivalent) in all jurisdictions where it is
required to be so qualified (or its equivalent) and where the failure to be so qualified, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 

7.2 Company Power and Authority. Borrower has the Company power and authority to execute, deliver and carry out the terms and provisions of
the Loan Documents to which it is a party and has taken all necessary Company action to authorize the execution, delivery and performance of the Loan Documents to which it is a party. Borrower has duly executed and delivered each Loan Document to
which it is a party and each such Loan Document constitutes the legal, valid and binding obligation of the Borrower enforceable in accordance with its terms, except to the extent that the enforceability thereof may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws generally affecting creditors’ rights and by equitable principles (regardless of whether enforcement is sought in equity or at law). 

7.3 No Violation. Neither the execution, delivery or performance by the Borrower of the Loan Documents to which it is a party, nor
compliance by the Borrower with the terms and provisions thereof, nor the consummation of the transactions contemplated herein or therein, (i) will contravene any material provision of any applicable law, statute, rule or regulation, or any
order, writ, injunction or decree of any court or governmental instrumentality, (ii) will conflict with or be inconsistent with or result in any breach of, any of the terms, covenants, conditions or provisions of, or constitute an “event
of default” under, or (other than pursuant to the Security Documents) result in the creation or imposition of (or the obligation to create or impose) any Lien upon any of the property or assets of the Borrower pursuant to the terms of any
indenture, mortgage, deed of trust, loan agreement, credit agreement or any other agreement, contract or instrument to which the Borrower is a party or by which it or any of its material property or assets are bound or to which it may be subject, or
(iii) will violate any provision of the certificate of incorporation, memorandum of association, bye-laws or equivalent organizational document, as the case may be, of the Borrower. 
 7.4 Litigation. There are no actions, suits, proceedings or investigations pending or, to the knowledge of the Borrower, threatened in writing (i) with respect to any Loan Document or
(ii) with respect to any other matter, as to which there is a reasonable possibility of an adverse determination and that, if adversely determined, either individually or in the aggregate, would reasonably be expected to have a Material Adverse
Effect. 
 7.5 Margin Regulations. No part of any Loan (or the proceeds thereof) will be used (i) to purchase or carry any
Margin Stock in contravention of Regulation T, U or X of the Board of Governors of the Federal Reserve System as from to time in effect (or any successor to all or any portion thereof), or (ii) to extend credit for the purpose of purchasing or
carrying any Margin Stock in contravention of such regulations. 

  
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 7.6 Governmental Approvals. Except as may have been obtained or made on or prior to the date
hereof, no order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by, any Governmental Authority, is required to authorize, in respect of the Borrower, or is required to be obtained
by the Borrower in connection with (i) the execution, delivery and performance by the Borrower of any Loan Document or (ii) the legality, validity, binding effect or enforceability of any Loan Document with respect to the Borrower, in each
case, except for (A) the filing or recordation of any Security Documents or (B) to the extent that the failure to make or obtain, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect.

 7.7 Investment Company Act. Borrower is not an “investment company” or a company “controlled” by an
“investment company”, within the meaning of the Investment Company Act of 1940, as amended. 
 7.8 Activities of
Borrower. The Borrower was formed as a company with limited liability on August 2, 2011. At all times since the date of its formation, the Borrower has not engaged in any activities or business other than entering into the Loan
Documents. 
 7.9 True and Complete Disclosure. All factual information (taken as a whole) furnished by or on behalf of the
Borrower in writing to the Administrative Agent or any Lender (including, without limitation, all information contained in the Loan Documents) for purposes of or in connection with this Credit Agreement is, and all other such factual information
(taken as a whole) hereafter furnished by, or on behalf of, the Borrower in writing to the Administrative Agent or any Lender in connection with this Credit Agreement will be, true and accurate in all material respects on the date as of which such
information is dated and not incomplete by omitting to state any material fact necessary to make such information (taken as a whole) not misleading in any material respect at such time in light of the circumstances under which such information was
provided; provided, however, that (i) no representation is made regarding whether any Owner Container is subleased to or used by a Sanctioned Person, or located, operated or used in a Sanctioned Country, except to the extent of the knowledge of
the Person making any such representation, and (ii) to the extent that any such information was based upon or constitutes a forecast or projection, Borrower represents only that it acted in good faith and utilized assumptions believed by the
management of the Borrower to be reasonable at the time made in the preparation of such information (it being understood by the Administrative Agent and the Lenders that any financial information as it relates to future events is not to be viewed as
fact and that actual results during the period or periods covered thereby may differ from the projected results set forth therein). 
 7.10
Solvency. On a pro forma basis after giving effect to all Obligations incurred, and to be incurred, and Liens created, and to be created, in connection with the Loan Documents, (x) the sum of the assets, at a fair valuation, of the
Borrower will exceed its or its debts, (y) the Borrower has not incurred nor intended to, nor believes that it will, incur debts beyond its ability to pay such debts as such debts mature and (z) the Borrower will not have unreasonably
small capital with which to conduct its business in the manner such business is now conducted. For purposes of this Section 7.10, “debt” means any liability on a claim, and “claim” means (i) right to payment,
whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured or (ii) right to an equitable remedy for breach of performance if
such breach gives rise to a payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured, unmatured, disputed, undisputed, secured or unsecured. The amount of contingent liabilities at any time shall
be computed as the amount that, in the light of all facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

7.11 Security Interests. Each of the Security Documents creates, as security for the Obligations, a valid and enforceable security interest
in and Lien on all of the Collateral subject thereto, superior to and prior to the rights of all third Persons (other than pursuant to statutory priority rights), and subject to no other Liens except Permitted Liens. The Borrower has filed or caused
to be filed all UCC financing statements (or documents of similar import) in the appropriate offices therefor (or has delivered to the Administrative Agent UCC financing 

  
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statements (or documents of similar import) suitable for filing in such offices) and has taken all of the actions necessary in the United States and Bermuda to create perfected security interests
in the Collateral which the Security Documents require the Borrower to create perfected security interests and which can be perfected by filing in the United States, Bermuda and the province of Ontario, Canada. 

7.12 ERISA. (a) The Borrower is in compliance in all material respects with the applicable provisions of ERISA and the regulations and
published interpretations thereunder. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA Events, could reasonably be expected to result in any liability of the Borrower in excess of
$250,000. The present value of all benefit liabilities under each Plan (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the last annual valuation date applicable thereto, exceed
by more than $250,000 the fair market value of the assets of such Plan, and the present value of all benefit liabilities of all underfunded Plans (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87)
did not, as of the last annual valuation date applicable thereto, exceed by more than $250,000 the fair market value of the assets of all such underfunded Plans. 

(b) The Borrower has not received notice that any Lien arising under ERISA has been filed against the assets of the
Borrower. 
 7.13 Subsidiaries. The Borrower has no Subsidiaries. 
 7.14 Compliance with Statutes; Agreements, etc. The Borrower is in compliance with (i) all applicable statutes, regulations, rules and orders of, and all applicable restrictions imposed
by, all governmental bodies, domestic or foreign, in respect of the conduct of its business (including the origination of Finance Leases) and the ownership of its property (excluding applicable statutes, regulations, orders and restrictions relating
to environmental standards and controls, which matters are covered under Section 7.15) and (ii) all contracts and agreements to which it is a party, except, in each case, such non-compliances as would not reasonably be expected to
have, either individually or in the aggregate, a Material Adverse Effect. 
 7.15 Environmental Matters. Except as would not
reasonably be expected to result in, either individually or in the aggregate, a Material Adverse Effect: (i) the Borrower has complied with all applicable Environmental Laws and the requirements of any permits issued under such Environmental
Laws and the Borrower is not liable for any penalties, fines or forfeitures for failure to comply with any of the foregoing; (ii) there are no pending Environmental Claims or, to the knowledge of any Senior Designated Officer of the Borrower,
Environmental Claims threatened in writing against the Borrower or any property (real or personal) owned, leased or operated by the Borrower (including, to the knowledge of any Senior Designated Officer of the Borrower, any such claim arising out of
the ownership, lease or operation by the Borrower of any property (real or personal) formerly owned, leased or operated by the Borrower but no longer owned, leased or operated by the Borrower); and (iii) to the knowledge of any Senior
Designated Officer of the Borrower, there are no facts, circumstances, conditions or occurrences on or arising from any property (real or personal) owned, leased or operated by the Borrower (including any property (real or personal) formerly owned,
leased or operated by the Borrower but no longer owned, leased or operated by the Borrower) or relating to the past or present operations of the Borrower that could reasonably be expected to form the basis of an Environmental Claim against the
Borrower or any such property (real or personal). 
 7.16 Labor Relations. As of the date hereof, there are no strikes, lockouts
or slowdowns against the Borrower pending, or to the knowledge of the Borrower, threatened. The hours worked by and payments made to employees of the Borrower have not been in violation of the Fair Labor Standards Act or any other applicable
federal, state or local law dealing with such matters, except for such violations that would not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect. 

  
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 7.17 Tax Returns and Payments. Borrower has timely filed (including applicable extensions)
with the appropriate taxing authority, all federal and other material returns, statements, forms and reports for taxes (the “Returns”) required to be filed by or with respect to the income, properties or operations of the Borrower.
The Returns accurately reflect in all material respects all liability for taxes of the Borrower for the periods covered thereby. The Borrower has paid all material taxes payable by them other than those contested in good faith and for which adequate
reserves have been established in accordance with GAAP. 
 7.18 Existing Indebtedness. The Borrower has no Indebtedness other than
the Indebtedness evidenced by this Credit Agreement and the other Loan Documents. 
 7.19 Insurance. Schedule 7.19 sets
forth a summary of all insurance maintained by the Borrower on and as of the date hereof, with the amounts insured (and any deductibles) set forth therein. 
 7.20 OFAC Sanctions. None of the requesting or borrowing of any Loan or the use of the proceeds of such will violate any of the OFAC sanctions programs, laws, rules, and regulations of the
Office of Foreign Assets Control of the United States Department of the Treasury (31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto, (the “OFAC Sanctions”). Furthermore,
neither the Borrower nor any of its Affiliates (a) is or will become a Sanctioned Person; (b) is or will become a “blocked person” as described in the OFAC Sanctions; or (c) engages or will engage in any dealings or
transactions, or be otherwise associated, with any such Sanctioned Person in violation of the OFAC Sanctions. 
 7.21 No Default.
No Event of Default, Manager Default or Early Amortization Event has occurred and is continuing and no event has occurred that with the giving of notice or the passage of time or both would become an Event of Default, Manager Default or Early
Amortization Event. 
 7.22 Use of Proceeds. The Borrower shall use the proceeds of each Loan as follows: (i) to fund the
acquisition or origination of the Owner Container or Finance Lease to be acquired or originated with the proceeds of such Loan and (ii) for other general business purposes to the extent not prohibited to the terms of this Credit Agreement and
the other Loan Documents. 
 7.23 Place of Business. The Borrower’s sole “place of business” (within the meaning of
9-307 of the UCC) is located at Canon’s Court, 22 Victoria Street, Hamilton HM12, Bermuda. 
 7.24 Bank Accounts. The
Borrower maintains the deposit accounts listed on Schedule 7.24 (as such Schedule may be updated from time to time by Borrower upon written notice to Administrative Agent) hereto and no other deposit accounts. 

7.25 Tax Election of the Borrower. None of the Borrower, TL or WFCC has elected, or agreed to elect, to treat the Borrower as an
association taxable as a corporation for United States federal income tax purposes. 
 7.26 OFAC Compliance. The Borrower
(i) conducts its operations as if it is a “U.S. Person” and a “Person Subject to the Jurisdiction of the United States”, within the meaning of the OFAC Sanctions and (ii) does not derive any of its assets or revenues
from investments in, or transactions with, Sanctioned Persons or Sanctioned Countries in violation of the OFAC Sanctions. 

  
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	8.	AFFIRMATIVE COVENANTS. 

 Borrower hereby covenants and agrees that, for so long as any Commitment remains outstanding, and until the Loans, together with interest, Fees and all other Obligations, are paid in full: 

8.1 Information Covenants. Borrower will furnish, or will cause to be furnished, to the Administrative Agent for distribution to each
Lender and each Interest Rate Hedge Counterparty: 
 (a) Quarterly Financial Statements. Within ninety
(90) days after the close of the first three fiscal quarters in each fiscal year of the Borrower, the (i) consolidated balance sheets of the Borrower and its Consolidated Subsidiaries and the related statements of income for such fiscal
quarter and for the elapsed portion of the fiscal year ended with the last day of such fiscal quarter and the related statements of cash flows for the elapsed portion of the fiscal year ended with the last day of such fiscal quarter, all of which
shall be certified by the chief financial officer or other Authorized Officer of the Borrower that they fairly present in all material respects in accordance with GAAP the financial condition of the Borrower as of the dates indicated and the results
of their operations and/or changes in their cash flows for the periods indicated, subject to normal year-end audit adjustments and the absence of footnotes. 
 (b) Annual Financial Statements. No later than one hundred twenty (120) days after the end of each fiscal year of each of the Borrower, the consolidated balance sheet of the Borrower and its
Consolidated Subsidiaries and the related consolidated statements of income and statement of cash flows for such fiscal year and, with respect to each fiscal year commencing after the completion of the first full fiscal year following the Closing
Date, setting forth consolidated comparative figures for the preceding fiscal year (or, if shorter since inception), together with a certification by an Independent Accountant reasonably acceptable to the Administrative Agent (acting at the
direction of the Majority Lenders) to the effect that such statements fairly present in all material respects the consolidated financial condition of the Borrower as of the dates indicated and the results of their operations and changes in financial
position for the periods indicated in conformity with GAAP applied on a basis consistent with prior years except as disclosed therein (which report shall be without a “going concern” or like qualification or exception and without any
qualification or exception as to the scope of such audit). 
 (c) Officer’s Certificates. At the time
of the delivery of the financial statements of the Borrower provided for in Sections 8.1(a) and (b), a certificate of the chief financial officer or other Authorized Officer of the Borrower to the effect that no Default, Early
Amortization Event or Event of Default has occurred and is continuing or, if any Default, Early Amortization Event or Event of Default has occurred and is continuing, specifying the nature and extent thereof. 

(d) Notice of Default, Event of Default or Litigation. Promptly, and in any event within five (5) Business
Days after any Senior Designated Officer of the Borrower obtains knowledge thereof, notice of (i) the occurrence of any event which constitutes a Default, Early Amortization Event or an Event of Default, which notice shall specify the nature
and period of existence thereof and what action the Borrower proposes to take with respect thereto, (ii) any litigation or proceeding pending or, to the knowledge of Senior Designated Officer of the Borrower, threatened in writing against the
Borrower which, either individually or in the aggregate, would reasonably be expected to have, a Material Adverse Effect, or (iii) any governmental investigation pending or, to the knowledge of Senior Designated Officer of the Borrower,
threatened in writing against the Borrower which, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 
 (e) Management Letters. At the request of the Administrative Agent (acting at the direction of the Majority Lenders), a copy of any “management letter” submitted to the Borrower by its
independent accountants in connection with any annual, interim or special audit made by them of the financial statements of the Borrower and management’s responses thereto. 

(f) Owner Container Performance Reports and Pledged Owner Container Lists. (i) On each Determination Date and
each Funding Date, an Asset Base Report, (ii) within thirty (30) days after the end of each fiscal quarter, an equipment and lease report setting forth (A) the identity of each Lessee of one or more Owner Containers, the number of
units, the number of CEU, equipment type, Original Equipment Cost, Net Investment Value, remaining lease tenor, and per diem rate, and (B) a receivables aging schedule for all Lessees of one or more Owner Containers, and (iii) at the
request of the Administrative Agent, but in any case no more than once per calendar quarter, an updated summary listing of all Owner Containers as of the last day of the preceding calendar quarter. 

  
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 (g) Evidence of Payment. Evidence of payment in full of the purchase
price of any Owner Container that is subject to a Finance Lease originated or acquired with the proceeds of a Loan; 
 (h) Manager Reports. As soon as practicable (but in any event within ten (10) Business Days) after receipt thereof, copies of all financial statements, reports and notices delivered by the
Manager to the Borrower pursuant to the terms of the Management Agreement. 
 (i) Other Information. From
time to time, such other information or documents (financial or otherwise) in the form utilized by the Borrower in its own operations with respect to the Borrower as the Administrative Agent or any Lender may reasonably request and which is
reasonably available to the Borrower. 
 8.2 Books, Records and Inspections. Borrower shall permit the Administrative Agent, any
Lender or any of its designated representatives: 
 (a) at the expense of the Borrower and at such reasonable
times as the Administrative Agent or any Lender may reasonably request in writing (but limited, if no Default or Event of Default then exists, to once per year for the Administrative Agent and the Lenders collectively), to visit and inspect any of
the properties of the Borrower, to examine and audit the books of account of the Borrower (and to make copies thereof and extracts therefrom), and to discuss the affairs, finances and accounts of the Borrower with, and to be advised as to the same
by, the Borrower and its officers, and to conduct examinations and verifications (whether by internal commercial finance examiners or independent auditors) of all components included in the Asset Base; and 

(b) if a Default or Event of Default then exists, at the expense of the Borrower at such reasonable times and as often as
the Administrative Agent or any Lender reasonably requests, to visit and inspect any of the properties of the Borrower, to examine the books of account of the Borrower (and to make copies thereof and extracts therefrom), and to discuss the affairs,
finances and accounts of the Borrower with, and to be advised as to the same by, its and their officers, and to conduct examinations and verifications (whether by internal commercial finance examiners or independent auditors) of all components
included in the Asset Base. 
 8.3 Maintenance of Office. The Borrower will maintain its sole “place of business”
(within the meaning of 9-307 of the UCC) at the address set forth in Section 7.23. 
 8.4 Payment of Taxes. Borrower
will pay and discharge all taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits, or upon any properties belonging to it, in each case on a timely basis, and all lawful claims which, if unpaid, could
reasonably be expected to become a Lien upon any properties of the Borrower (other than a Permitted Lien); provided that the Borrower shall not be required to pay any such tax, assessment, charge, levy or claim which is immaterial or is being
contested in good faith and by proper proceedings if it has maintained adequate reserves with respect thereto in accordance with GAAP. 
 8.5
Existence; Franchises. Except as otherwise permitted by Section 9.5, Borrower will do, or cause to be done, all things necessary to preserve and keep in full force and effect its existence and its rights, franchises,
authorities to do business, licenses, permits, certifications, accreditations and patents; provided, however, that nothing in this Section 8.5 shall (x) prevent the withdrawal by the Borrower of its qualification as a foreign
Company in any jurisdiction where such withdrawal would not, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect or (y) require the preservation of any such right, franchise, authorities to do
business, license, permit, certification, accreditation or patent to the extent that the lapse thereof, either individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. 

  
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 8.6 Compliance with Statutes; etc. Borrower will comply with all applicable statutes,
regulations and orders of, and all applicable restrictions imposed by, all governmental bodies, domestic or foreign, in respect of the conduct of its business and the ownership of its property, except for such instances of noncompliance as, either
individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. 
 8.7 End of Fiscal Years; Fiscal
Quarters. Borrower will cause (i) each of its fiscal years to end on December 31 of each calendar year and (ii) each of its fiscal quarters to end on March 31, June 30, September 30 and
December 31 of each year. 
 8.8 Further Assurances. Borrower will, at its own expense, make, execute, endorse, acknowledge,
file and/or deliver to the Lenders from time to time such vouchers, invoices, schedules, confirmatory assignments, confirmatory conveyances, financing statements, transfer endorsements, confirmatory powers of attorney, certificates, reports and
other assurances or confirmatory instruments and take such further steps relating to the Collateral as the Lenders may reasonably require. 

8.9 Performance of Obligations. The Borrower will perform all of its obligations under the terms of each mortgage, deed of trust,
indenture, loan agreement or credit agreement and each other agreement, contract or instrument by which it is bound, except such non-performances as, either individually or in the aggregate, would not reasonably be expected to cause a Material
Adverse Effect. 
 8.10 Maintenance of Owner Containers. The Borrower will, or will cause the Manager to: 

(a) keep, or require the related Lessee to keep, the Owner Containers in good repair and working order (reasonable wear
and tear and causes beyond the Borrower’s control excepted); 
 (b) at all times require the related Lessee
to use the Owner Containers, in accordance with good operating practices and at all times comply with all loading limitations, handling procedures and operating instructions prescribed by the manufacturer; 

(c) not knowingly permit the Lessees to use the Owner Containers for storage of transportation of hazardous substances or
other unsuitable contents in violation of applicable United States environmental law; and 
 (d) require the
related Lessee to comply with the International Convention for Safe Containers (CSC) in all material respects with respect to Owner Containers. 

8.11 Insurance. The Borrower shall instruct the Manager to comply with, and monitor compliance by the Borrower with, the provisions of
Section 8 (Insurance) of the Management Agreement. The Administrative Agent and each Lender reserves the right (but shall not have the obligation) to obtain (i) at Borrower’s expense, insurance with respect to any or all of the risks
required under the Management Agreement to be insured by the Manager on behalf of the Borrower if the Manager shall fail to obtain such coverage in the specified amounts, and (ii) at the Lenders’ expense, additional insurance on its own
behalf with respect to any or all of such risks (or any other risk). However, the Administrative Agent and the Lenders will notify the Borrower prior to obtaining any such insurance. 
 8.12 Interest Rate Hedging Agreements. The Borrower will maintain one or more Interest Rate Hedging Agreements that will obligate the Borrower or the applicable Interest Rate Hedge
Counterparty to make a Periodic Hedge Payment on each Payment Date. Each Interest Rate Hedge Counterparty shall be, on the date on which the related Interest Rate Hedging Agreement is entered into, (i) a bank that has both (A) a long term
unsecured debt rating of at least “A-” or better from S&P and “A3” or better from 

  
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Moody’s and (B) a short term unsecured debt rating of “A-2” or better from S&P are rated and “P-2” or better from Moody’s, or (ii) a bank or other
financial institution that is otherwise acceptable to the Majority Lenders. Any Periodic Hedge Payment or Hedge Termination Payment shall be deposited by, or on behalf of, the Borrower directly into the Trust Account and shall be distributed in
accordance with Section 3.2. The Borrower shall maintain Interest Rate Hedging Agreements with respect to a notional principal amount that is at least the Minimum Required Hedge Amount and not more than the Maximum Required Hedge Amount.
If the actual notional principal amount of the Interest Rate Hedging Agreements is less than the Minimum Required Hedge Amount or more than the Maximum Required Hedge Amount, the Borrower shall have up to (i) ninety (90) days if the
Revolving Credit Period is then in effect or (ii) five (5) Business Days (or such longer period as the Administrative Agent may in its sole discretion permit) if the Revolving Credit Period is not then in effect to (x) terminate, in
part or in whole, any Interest Rate Hedging Agreements with one or more of the counterparties to such agreements, to the extent necessary to reduce the notional principal amount of the Interest Rate Hedging Agreements below the Maximum Required
Hedge Amount or (y) enter into Interest Rate Hedging Agreements to the extent necessary to increase the notional principal amount of the Interest Rate Hedging Agreements above the Minimum Required Hedge Amount as the circumstances require.

 8.13 UNIDROIT Convention. The Borrower will comply with the terms and provisions of the UNIDROIT Convention on International
Interests in Mobile Equipment or any other internationally recognized system for recording interests in or liens against shipping containers at the time that such convention is adopted. 

 

	8.14	Compliance with United States Laws. 

 (a) The Borrower will conduct its operations as if it is a “U.S. Person” and a “Person Subject to the Jurisdiction of the United States,” with the meaning of OFAC Sanctions.

 (b) No part of the proceeds of any Loan or of the revenue derived from any Lease or Container will be used,
directly or indirectly, to engage in any activity, practice, or conduct that would constitute a violation of the United States Foreign Corrupt Practices Act of 1977, as amended, the UK Bribery Act 2010, or any other applicable anti-corruption laws.
Specifically, no part of the proceeds of any Loan or of the revenue derived from any Lease or Owner Container will be used, directly or indirectly, to make, offer, authorize, or receive any financial or other advantage or anything of value to or
from any third party (including any government official, employee, political party, official of a political party, candidate of political office or anyone else acting in an official capacity) to induce, secure or reward the improper performance of a
duty or obligation to which that third party is subject in order to obtain or retain business or a business advantage. 
  

	8.15	Non-Consolidation of the Borrower. 

 (a) The Borrower shall be operated in such a manner to minimize the likelihood that it would be substantively consolidated with the trust estate of any other Person in the event of the bankruptcy or
insolvency of the Borrower or such other Person. Without limiting the foregoing the Borrower shall (1) conduct its business in its own name, (2) maintain its books and records separate from those of any other Person (except as otherwise
permitted under the Loan Documents), (3) maintain its bank accounts separate from those of any other Person (except to the extent otherwise permitted under any Loan Document), (4) maintain separate financial statements, showing its assets
and liabilities separate and apart from those of any other Person, (5) pay its own liabilities and expenses only out of its own funds, (6) enter into a transaction with an Affiliate only if such transaction is intrinsically fair,
commercially reasonable and on the same terms as would be available in an arm’s length transaction with a Person or entity that is not an Affiliate (it being understood that each Container Sale Agreement fulfills such requirements),
(7) allocate fairly and reasonably any overhead expenses that are shared with an Affiliate, (8) hold itself out as a separate entity and maintain adequate capital in light of its contemplated business operations and (9) observe all
other appropriate organizational formalities. 

  
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 (b) Notwithstanding any provision of law which otherwise empowers the
Borrower, the Borrower shall not (1) hold itself out as being liable for the debts of any other Person, (2) act other than in its Company name and through its duly authorized officers, directors or agents, (3) engage in any joint
activity or transaction of any kind (except as otherwise permitted under the Loan Documents) with or for the benefit of any Affiliate including any loan to or from or guarantee of the indebtedness of any Affiliate, except payment of lawful
distributions to its shareholders and except for the Loans, (4) except as permitted under the Management Agreement, commingle its funds or other assets with those of any other Person, (5) create, incur, assume, guarantee or in any manner
become liable in respect of any indebtedness (except as permitted under Section 9.1) or (6) take any other action that would be inconsistent with maintaining the separate legal identity of the Borrower or engage in any other
activity not contemplated by the Loan Documents and related documents. 
 8.16 Finance Lease Payments. The Borrower shall cause
the Manager to instruct all Lessees under all Finance Leases to remit all payments under such Finance Leases to the Finance Lease Proceeds Account. 
  

	9.	NEGATIVE COVENANTS. 

Borrower hereby covenants and agrees that, for so long as any Commitment remains outstanding, and until the Loans, together with interest,
Fees and all other Obligations, are paid in full: 
 9.1 Restrictions on Indebtedness. The Borrower will not create, incur,
assume, guarantee or be or remain liable, contingently or otherwise, with respect to any Indebtedness other than: 
 (a) Indebtedness to one or more Secured Parties arising under any of the Loan Documents; 
 (b) Manager Advances (as defined in the Management Agreement) subject to the limitations on Manager Advances set forth in the Management Agreement; 

(c) endorsements for collection, deposit or negotiation and warranties of products or services, in each case incurred in
the ordinary course of business; and 
 (d) purchase money indebtedness or obligations in connection with the
acquisition of Owner Containers by Borrower; provided that such indebtedness or obligation (i) represents the vendor’s or manufacturer’s invoice price of such Owner Containers, (ii) does not exceed 100% of the
vendor’s or manufacturer’s invoice price of the Owner Containers being purchased at the time of the incurrence of such indebtedness or obligations and (iii) is not overdue in accordance with its terms. 

9.2 Restrictions on Liens. The Borrower will not create or incur or suffer to be created or incurred or to exist any Lien upon any of its
property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom, except: 
 (a) Liens to secure taxes, assessments and other government charges in respect of obligations not overdue or that are being contested in good faith by appropriate proceedings that are not reasonably
likely to result in any civil or criminal penalty to the Administrative Agent or any Lender and for the payment of which adequate reserves are maintained in accordance with GAAP; 

(b) Liens of carriers, warehousemen, mechanics and materialmen, and other like Liens on properties, in existence less than
60 days after the Borrower or the Manager has knowledge thereof or that are being contested in good faith by appropriate proceedings that are not reasonably likely to result in any civil or criminal penalty to the Administrative Agent or the Lender
and for the payment of which adequate reserves are maintained in accordance with GAAP; 

  
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 (c) Liens in favor of any of the Secured Parties under the Loan Documents;

 (d) Liens securing purchase money indebtedness or obligations permitted pursuant to
Section 9.1(d); 
 (e) rights of a Lessee in Owner Containers subject to the terms of a Lease;

 (f) rights of the Manager under the Management Agreement; and 

(g) Liens (i) in favor of banks on items in collection (and the documents related thereto) arising in the ordinary
course of business of the Borrower under Article IV of the UCC or (ii) on deposit accounts or securities accounts (and the contents thereof), in favor of the financial institution at which such account is located, arising pursuant to such
financial institution’s standard terms and conditions governing such account. 
  

	9.3	Restrictions on Investments. The Borrower will not make or permit to exist or to remain outstanding any Investment except: 

(a) Eligible Investments with respect to funds on deposit in the Trust Account and the Cash Reserve Account; 

(b) Investments consisting of accounts receivable owing to the Borrower in the ordinary course of business and payable or
dischargeable in accordance with customary terms; 
 (c) Investments received in connection with the bankruptcy
or reorganization of, or settlement of delinquent accounts and disputes with Lessees arising in the ordinary course of business; or 
 (d) Finance Leases originated or acquired by the Borrower in accordance with the terms of the Loan Documents. 
 9.4 Restricted Payments. The Borrower will not make any Restricted Payments if a Default or an Event of Default is then continuing or would result from such payment. 

 

	9.5	Merger, Consolidation and Disposition of Assets. 

 9.5.1 Mergers and Acquisitions. The Borrower will not become a party to any merger, amalgamation or consolidation, or agree to or effect any asset acquisition of a facility, division or line
or business or acquisition of a majority of the Voting Stock of any Person. 
 9.5.2 Disposition of Assets. The
Borrower will not become a party to or agree to or effect any sale, transfer, conveyance, lease or other disposition of any of its assets, other than that comply with the terms and limitations set forth in this Credit Agreement, the Management
Agreement and the other Loan Documents; provided that this Section 9.5.2 shall not restrict (a) the sale of Investments permitted pursuant to Section 9.3, (b) the sale of one or more Owner Container(s)
subject to a Finance Lease to the related Lessee in accordance with the terms of such Finance Lease, (c) the sale of Owner Containers not subject to a Finance Lease to Persons that are not Sanctioned Persons made in the ordinary course of
business (including any such sales resulting from the sell/repair decision of the Manager) so long as (i) no Asset Base Deficiency is then continuing or would result from such sale, and (ii) such sale is otherwise permitted pursuant to the
terms of the Management Agreement and (d) sales of Owner Containers in connection with repurchases or substitutions to effect compliance with the representations and warranties made by a seller under a Container Sale Agreement. 

  
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 9.6 Sale and Leaseback. The Borrower will not enter into any arrangement, directly or
indirectly, whereby the Borrower shall sell or transfer any property owned by it in order then or thereafter to lease back such property or lease other property that the Borrower intends to use for substantially the same purpose as the property
being sold or transferred. 
 9.7 Compliance with Environmental Laws. The Borrower will not (a) use any Owner Container for
the handling, processing, storage or disposal of Hazardous Substances, (b) otherwise use any Owner Container in any manner that would violate in any material respect any Environmental Law or bring such Owner Container (with respect to each of
the foregoing clauses (a) and (b)), in material violation of any Environmental Law. 
 9.8 Employee Benefit
Plans. The Borrower shall not do any of the following to the extent such act or failure to act would result individually or in the aggregate, after taking into account all other such acts or failures to act under this
Section 9.8, in a Material Adverse Effect: 
 (a) engage in any nonexempt “prohibited
transaction” within the meaning of Section 406 of ERISA or Section 4975 of the Code which could result in a material liability for the Borrower; or 

(b) fail to contribute to any Guaranteed Pension Plan to an extent which, or terminate any Guaranteed Pension Plan in a
manner which, could result in the imposition of a lien or encumbrance on the assets of the Borrower pursuant to Section 302(f) or Section 4068 of ERISA; or 

(c) amend any Guaranteed Pension Plan resulting in an increase in current liability for the Plan year such that the
Borrower is required to post a security pursuant to Section 307 of ERISA; 
 (d) permit or take any action
which would result in the aggregate benefit liabilities (with the meaning of Section 4001 of ERISA) of all Guaranteed Pension Plans exceeding the value of the aggregate assets of such Plans, disregarding for this purpose the benefit liabilities
and assets of any such Plan with assets in excess of benefit liabilities; or 
 (e) permit or take any action
which would contravene any Applicable Pension Legislation and would have a Material Adverse Effect. 
 9.9 Fiscal Year. The
Borrower will not change the date of the end of its fiscal year from that set forth in Section 8.7. 
 9.10 Transactions with
Affiliates. Except for the Loan Documents and except as expressly permitted under Sections 9.1, 9.2, 9.3, 9.4 and 9.5, the Borrower will not engage in any transaction with any Affiliate, including any
contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any such Affiliate or, to the knowledge of the
Borrower, any corporation, partnership, trust or other entity in which any such Affiliate has a substantial interest or is an officer, director, trustee or partner, on terms more favorable to such Person than would have been obtainable on an
arm’s-length basis in the ordinary course of business. 
 9.11 Other Agreements. The Borrower will not enter into, or become
a party to, any agreements or instruments other than (i) the Loan Documents and any other agreement(s) contemplated hereby or thereby or related hereto or thereto, (ii) any agreement(s) for disposition of the Owner Containers and Leases
permitted by the terms of this Credit Agreement and made in accordance with all applicable provisions of the Management Agreement and (iii) any other documents contemplated by a Container Sale Agreement or the Management Agreement. 

  
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 9.12 Charter Documents. The Borrower will not amend or modify its articles of association.

 9.13 Capital Expenditures. The Borrower will not make any expenditure (by long-term or operating lease or otherwise) for
capital assets (both realty and personalty), except for (a) acquisition or origination of Finance Leases and Owner Containers subject to Finance Leases or (b) capital improvements to the Owner Containers made in the ordinary course of its
business and in accordance with the terms of the Management Agreement. 
 9.14 Permitted Activities; Compliance with Organizational
Documents. The Borrower will not engage in any activity or enter into any transaction except as permitted under its organizational documents as in effect on the date on which this Credit Agreement is executed. The Borrower will observe all
company, organizational and managerial procedures required by its organizational documents and applicable law. 
 9.15
Subsidiaries. The Borrower shall not create any Subsidiaries. 
 9.16 OFAC. The Borrower shall not in a manner which
would violate OFAC Sanctions, (i) lease, consent to any sublease, or permit the use or carriage of any of the Owner Containers to or by any Person that is a Sanctioned Person, (ii) lease, sublease, use, or locate, or permit the lease,
sublease, use, or location of any of the Owner Containers in any Sanctioned Country; or (iii) derive any of its assets or operating income from investments in, or transactions with, any Sanctioned Person or Sanctioned Country. If the Borrower
obtains knowledge that any Owner Container is subleased to, or used by, a Sanctioned Person or located or used in a Sanctioned Country in a manner which would violate OFAC Sanctions, then the Borrower shall, within ten (10) Business Days after
obtaining knowledge thereof, exclude such Owner Container from all calculations of the Asset Base for so long as such condition continues. 

9.17 No Termination, Waivers or Amendments to Management Agreement. 

9.17.1 The Borrower will not agree to any waiver of a default by the Manager under, or permit the amendment of, the Management
Agreement, that would materially and adversely affect the rights or interests of the Administrative Agent, the Lenders or any Interest Rate Hedge Provider. 
 9.17.2 The Borrower will not, without the prior written consent of the Administrative Agent (acting at the direction of the Majority Lenders), (i) consent to any voluntary termination by the
Manager of the Management Agreement, or (ii) terminate the Manager under the Management Agreement. 
 9.18 Payables for Owner
Containers. The Borrower shall not incur obligations to manufacturers or other third parties to purchase or otherwise acquire containers unless (i) all of the requirements set forth in Section 4.4(a) of the Management Agreement
have been complied with in connection with such acquisition, and (ii) the Borrower has funds or committed financing available in an amount sufficient to pay for such amount. 
 9.19 Bank Accounts. Aside from the Trust Account, the Cash Reserve Account, the Expense Payment Account and the TWCL Distribution Account, the Borrower shall not establish any other bank
accounts, trust accounts or other deposit accounts without prior written notice to, and the prior written consent of, the Administrative Agent (acting at the direction of the Majority Lenders), in each instance. 

 

	10.	CLOSING CONDITIONS. 

 The
obligation of each Lender to make its initial Loan hereunder is subject to the satisfaction of the following conditions (or the written waiver of such conditions by the Administrative Agent (acting at the direction of the Majority Lenders)):

  
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 10.1 Execution of Loan Documents. On or prior to the Closing Date, the following shall have
been executed and delivered and shall be in full force and effect: 
 (a) this Credit Agreement, 

(b) the Management Agreement, 
 (c) the Administrative Agent Fee Letter, and 
 (d) the Security
Agreement. 
 10.2 Officer’s Certificate. On the Closing Date, the Administrative Agent shall have received a certificate
from the Borrower, dated the Closing Date and signed by an Authorized Officer of the Borrower, certifying that (i) all of the applicable conditions set forth in Section 10 (other than such conditions as are expressly subject to the
satisfaction of the Administrative Agent and/or the Majority Lenders), have been satisfied on such date, (ii) there exists no Default or Event of Default and (iii) all representations and warranties contained herein and in each other Loan
Document are true and correct in all material respects with the same effect as though such representations and warranties were made on such date (except with respect to any representation or warranty which by its terms is made as of a specified
earlier date). 
 10.3 Opinions of Counsel. On the Closing Date, the Administrative Agent shall have received from counsel to the
Borrower, an opinion addressed to the Administrative Agent, each Lender and each Interest Rate Hedge Counterparty and dated the Closing Date, which opinion shall (x) cover the enforceability of the Loan Documents and the creation and perfection
of the security interests and/or liens granted pursuant to the relevant Security Documents and such other matters incident to the transactions contemplated herein as the Administrative Agent may reasonably request and (y) be in form and
substance reasonably satisfactory to the Administrative Agent (acting at the direction of the Majority Lenders). 
 10.4 Company
Documents; Proceedings. 
 (a) On the Closing Date, the Administrative Agent shall have received from
Borrower a certificate of the Borrower, signed on the Borrower’s behalf by the secretary, any assistant secretary or other senior officer of the Borrower, attaching and certifying as to true and correct copies of the certificate of
incorporation, memorandum of association, bye-laws or equivalent organizational documents of the Borrower and the resolutions of the board of directors of the Borrower referred to in such certificate, and all of the foregoing shall be reasonably
satisfactory to the Majority Lenders. 
 (b) On the Closing Date, all instruments and agreements in connection
with the transactions contemplated by this Credit Agreement and the other Documents shall be reasonably satisfactory in form and substance to the Majority Lenders, and the Administrative Agent shall have received all information and copies of all
certificates, documents and papers, including good standing certificates, bring-down certificates and any other records of Company proceedings and governmental approvals, if any, which the Administrative Agent (acting at the direction of the
Majority Lenders) reasonably may have requested in connection therewith, such documents and papers, where appropriate, to be certified by proper Company or governmental authorities. 
 10.5 Approvals. On or prior to the Closing Date, all necessary governmental (domestic and foreign), regulatory and material third party approvals and/or consents in connection with this
Credit Agreement and the other Loan Documents shall have been obtained and remain in full force and effect and evidence thereof shall have been provided to the Administrative Agent; except for any such approval or consent the failure to obtain would
not reasonably be expected to have a Material Adverse Effect. Additionally, on the 

  
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Closing Date, there shall not exist any judgment, order, injunction or other restraint issued or filed or a hearing seeking injunctive relief or other restraint pending or notified prohibiting or
imposing materially adverse conditions upon, or materially delaying, or making economically unfeasible, the consummation of the making of the Loans or the other transactions contemplated by the Loan Documents or otherwise referred to herein or
therein. 
  

	10.6	Lien Filings. On the Closing Date, Administrative Agent shall have received: 

(a) proper financing statements (Form UCC-1 or the equivalent) for filing under the UCC or other appropriate filing
offices of each jurisdiction (including Bermuda) as may be necessary or, in the reasonable opinion of the Majority Lenders desirable, to perfect the security interests purported to be created by the Security Agreement; 

(b) certified copies of Requests for Information or Copies (Form UCC-11), or equivalent reports, each of a recent date,
listing all effective financing statements that name the Borrower as debtor and that are filed in the jurisdictions referred to in clause (i) above (none of which shall cover any of the Collateral, except to the extent evidencing
Permitted Liens or in respect of which the Administrative Agent shall have received termination statements (Form UCC-3) or such other termination statements as shall be required by local law fully executed (where required) for filing); 

(c) evidence of the completion of (or adequate provision for) all other recordings and filings of, or with respect to, the
Security Agreement as may be necessary or, in the reasonable opinion of the Majority Lenders desirable, to perfect the security interests intended to be created by the Security Agreement; and 

(d) evidence that all other actions necessary or, in the reasonable opinion of the Majority Lenders desirable, to create,
maintain, effect, perfect, preserve, maintain and protect the security interests purported to be created by the Security Agreement have been taken and the Security Agreement shall be in full force and effect. 

10.7 Insurance Certificates; etc. On the Closing Date, the Administrative Agent shall have received evidence of insurance complying with
the requirements of Section 8.11 for the business and properties of the Borrower, in scope, form and substance reasonably satisfactory to the Majority Lenders and naming the Administrative Agent as an additional insured and/or loss
payee, and stating that such insurance shall not be canceled or materially revised without at least 30 days’ (or 10 days’, in the case of cancellation for nonpayment of premium) prior written notice by the respective insurer to the
Administrative Agent. 
 10.8 Payment of Fees. On the Closing Date, all costs, fees and expenses, and all other compensation due
to the Administrative Agent and the Lenders (including, without limitation, reasonable and documented legal fees and expenses) shall have been paid to the extent then due. 

 

	11.	CONDITIONS PRECEDENT TO ALL LOANS. 

 The obligation of each Lender to make Loans (including its initial Loan hereunder) is subject, on the Funding Date of each such Loan (except as hereinafter indicated), to the satisfaction of the following
conditions: 
 11.1 Closing Date and Revolving Credit Period. The Closing Date shall have occurred and the Revolving Credit Period
shall be in effect. 
 11.2 No Default or Event of Default; Representations and Warranties. At the time of each such Loan and
immediately after giving effect thereto (i) there shall exist no Default or Event of Default and (ii) all representations and warranties contained herein and in each other Loan Document shall be true and correct in all material respects
with the same effect as though such representations and warranties had 

  
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been made on such Funding Date (it being understood and agreed that any representation or warranty which by its terms is made as of a specified date shall be required to be true and correct in
all material respects only as of such specified date). 
 11.3 Loan Request. At least three (3) LIBOR Business Days prior to
such Funding Date, the Administrative Agent shall have received a Loan Request. Each Loan Request, and acceptance by the Borrower of the proceeds of any Loan, shall constitute a certification that on the applicable Funding Date (both immediately
before and after giving effect to such Loan) all of the conditions precedent set forth in this Section 11 (including without limitation those set forth in Section 11.2) have been satisfied. 

11.4 Finance Leases. 
 (a) The Borrower shall have delivered to the Administrative Agent, not less than three (3) LIBOR Business Days prior to the proposed Funding Date, (i) a copy of the fully executed Finance Lease
that will be acquired or originated with the proceeds of such Loan, and (ii) the information set forth on Schedules 2 and 3 hereto with respect to such Finance Lease and the Lessee thereunder. 

(b) On such Funding Date such Finance Lease is (i) properly classified as an Eligible Finance Lease, and (ii) is
either (x) in the form of an Approved Lease Form or (y) is in form and substance acceptable to the Administrative Agent in its sole discretion. In connection with any approval pursuant to Section 11.4(b)(ii)(y), the Borrower
(or the Manager on behalf of the Borrower) may submit a proposed Finance Lease to the Administrative Agent at any time. If the Administrative Agent does not reject in writing such proposed Finance Lease within ten (10) Business Days, then such
proposed Finance Lease shall be deemed to be in form and substance acceptable to, and to have been approved by, the Administrative Agent for all purposes under the Loan Documents. 
 11.5 Early Amortization Event. No Early Amortization Event shall have occurred or would result from such Loan. 
 11.6 No Asset Base Deficiency. After giving effect to such Loan, no Asset Base Deficiency will exist. 
 11.7 Bankruptcy Opinions. On the first Funding Date on which a Finance Lease is acquired by the Borrower pursuant to the terms of a Container Sale Agreement, the Administrative Agent shall
have received, an opinion letter (in form and substance satisfactory to the Administrative Agent) addressed to the Administrative Agent and each of the Lenders regarding “true sale” matters. 

11.8 Cash Reserve Amount. The Borrower shall have complied with its obligations under Section 3.3(b). 

11.9 Control Agreement; Perfection Opinion. Prior to the initial Funding Date, the Control Agreement shall have been executed and delivered
and shall be in full force and effect. In addition, the Administrative Agent shall have received from Canadian counsel to the Borrower, an opinion addressed to the Administrative Agent, each Lender and each Interest Rate Hedge Counterparty regarding
perfection of the security interest in favor of the Collateral Agent, for the benefit of the Secured Parties, in each of the Trust Account, the Reserve Cash Account and the Expense Payment Account. Such opinion shall be in form and substances
satisfactory to the Administrative Agent (acting at the direction of the Majority Lenders). 

  
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	12.	EVENTS OF DEFAULT; ACCELERATION; ETC. 

 12.1 Events of Default and Acceleration. Any of the following events shall constitute an “Event of Default”: 

(a) the Borrower shall fail to pay the then unpaid principal of the Loans when the same shall become due and payable,
whether at the Maturity Date or any accelerated date of maturity or at any other date fixed for payment (other than failure to pay any Scheduled Principal Payment Amount described in clause (a) of the definition thereof, which is dealt
with exclusively in Section 12.1(c)); 
 (b) the Borrower shall fail to pay (i) on any Payment
Date any interest on the Loans or any Fees then due and payable, or (ii) other sums due hereunder or under any of the other Loan Documents, in each case, within three (3) Business Days of the date the same shall become due and payable,
whether at the stated date of maturity or any accelerated date of maturity or at any other date fixed for payment (other than any failure to pay that is dealt with in Section 12.1(a) or any failure to pay any Scheduled Principal Payment
Amount described in clause (a) of the definition thereof, which is dealt with exclusively in Section 12.1(c)); 
 (c) the Aggregate Loan Principal Balance exceeds the Asset Base on any Payment Date and the Borrower does not remedy such situation within ninety (90) days following the occurrence of such condition;
provided, however, that if (x) such condition exists due to the occurrence of a Defaulted Finance Lease and (y) the Finance Lease Default Ratio is less than twenty percent (20%), the period to cure such condition shall be extended from
ninety (90) days to two hundred ten (210) days; 
 (d) the Borrower shall breach any other covenant or
agreement (not otherwise covered by this Section 12.1) of the Borrower set forth in this Credit Agreement or other Loan Document, which breach materially and adversely affects the Lenders and/or the Interest Rate Hedge Counterparties and
which continues for a period of sixty (60) days after the earliest of (x) any Senior Designated Officer of the Borrower first acquiring knowledge thereof, (y) the Administrative Agent’s giving written notice thereof to the
Borrower, and (z) any Lender giving written notice thereof to the Borrower and the Administrative Agent; provided, that the Borrower shall have an additional 60-day cure period following the 60-day period described above if the Borrower is
diligently attempting to cure any such default; 
 (e) any representation or warranty of the Borrower made in any
other Loan Document shall prove to be incorrect in any material respect as of the time when the same shall have been made, which continues and, if capable of cure, which materially and adversely affects the Lenders and/or the Interest Rate Hedge
Counterparties and the continuance of such condition for a period of thirty (30) days after the earliest of (i) any Senior Designated Officer of the Borrower first acquiring knowledge thereof, (ii) the Administrative Agent’s
giving written notice thereof to the Borrower, and (iii) any Lender giving written notice thereof to the Borrower and the Administrative Agent; provided, that the Borrower shall have an additional 30-day cure period following the 30-day period
described above if the Borrower is diligently attempting to cure any such condition); 
 (f) all of the following
shall have occurred (i) a Manager Default shall have occurred and shall have not been remedied, waived or cured, (ii) the Administrative Agent (acting at the direction of the Majority Lenders) shall have directed the Borrower in writing
(with a copy to the Manager) to appoint a replacement manager for the Terminated Containers in accordance with the terms of the Management Agreement, and (iii) a replacement manager shall not have been appointed and assumed the management of
all Terminated Containers pursuant to a management agreement reasonably acceptable to the Majority Lenders by the date which is 90 days after the date on which such Manager Default initially occurred; 

(g)(i) the Borrower shall (A) make an assignment for the benefit of creditors, (B) admit in writing its
inability to pay or generally fail to pay its debts as they mature or become due, (C) petition or apply for the appointment of a trustee or other custodian, liquidator or receiver of the Borrower or of any substantial part of the assets of the
Borrower (D) commence any case or other proceeding relating to the Borrower under any bankruptcy, reorganization, arrangement, 

  
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insolvency, readjustment of debt, dissolution or liquidation or similar law of any jurisdiction, now or hereafter in effect, or (E) take any action to authorize or in furtherance of any of
the foregoing, or (ii) if any such petition or application shall be filed or any such case or other proceeding shall be commenced against the Borrower, (A) the Borrower shall indicate its approval thereof, consent thereto or acquiescence
therein, or (B) such petition or application shall not have been dismissed within sixty (60) days following the filing thereof; 
 (h) a decree or order is entered (i) appointing any trustee, custodian, liquidator or receiver of the Borrower or adjudicating the Borrower bankrupt or insolvent, or (ii) approving a petition in
any such case or other proceeding, or a decree or order for relief is entered in respect of the Borrower in an involuntary case under any Insolvency Law as now or hereafter constituted; 

(i) There shall remain in force, undischarged, unsatisfied and unstayed, for more than thirty (30) consecutive days,
any final judgment against the Borrower not covered by insurance that, with other outstanding final judgments, undischarged, against the Borrower not covered by insurance exceeds in the aggregate $1,000,000; 

(j) If (i) any of the Loan Documents shall be cancelled, terminated, revoked or rescinded or if the Liens on the
Collateral shall cease to be perfected, or shall cease to have the priority contemplated by the Security Documents, in each case other than in accordance with the terms thereof or with the express prior written agreement, consent or approval of the
Lenders, (ii) any action at law, suit or in equity or other legal proceeding to cancel, revoke or rescind any of the Loan Documents shall be commenced by or on behalf of the Borrower or any of its members or shareholders, or (iii) any
court of competent jurisdiction or any other Governmental Authority of competent jurisdiction shall make a determination that, or issue a judgment, order, decree or ruling to the effect that, any one or more of the Loan Documents is illegal, invalid
or unenforceable in accordance with the terms thereof; 
 (k) the Borrower incurs any liability to the PBGC or a
Guaranteed Pension Plan pursuant to Title IV of ERISA which would result in a Material Adverse Effect, or any of the following occurs with respect to a Guaranteed Pension Plan: (i) a “reportable event” as defined in Section 4043
of ERISA or the regulations issued thereunder (other than an event for which the 30 day notice period is waived), or a failure to make a required installment or other payment (within the meaning of Section 302(f)(1) of ERISA), provided, that
the Administrative Agent determines in its reasonable discretion that such event could be expected to result in (i) a Material Adverse Effect on the Borrower; (ii) the appointment by a United States District Court of a trustee to
administer such Guaranteed Pension Plan; or (iii) the institution by the PBGC of proceedings to terminate such Guaranteed Pension Plan; or 
 (l) the Borrower is required to register as an Investment Company under the Investment Company Act of 1940, as amended. 
 12.2 Remedies. (a) Acceleration. Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent may, and, upon the request of the
Majority Lenders, shall, by notice in writing to the Borrower (with a copy to each Interest Rate Hedge Counterparty) declare all amounts owing with respect to this Credit Agreement and the other Loan Documents to be, and they shall thereupon
forthwith become, immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrower; provided, that in the event of any Event of Default specified in
Section 12.1(g) or (h), all such amounts shall become immediately due and payable automatically and without any requirement of notice from the Administrative Agent or any Lender. 

(b) Termination of Commitments. If an Event of Default specified in Section 12.1(g) or
(h) shall occur, the Commitments shall forthwith terminate and each of the Lenders shall be relieved of all further obligations to make Loans to the Borrower. If any other Event of Default shall have occurred and be continuing, the
Administrative Agent may, and, upon the request of the Majority Lenders, shall, by notice to the Borrower, terminate the Commitments 

  
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hereunder, and upon such notice being given the Commitments hereunder shall terminate immediately and each of the Lenders shall be relieved of all further obligations to make Loans. No
termination of the Commitments hereunder shall relieve the Borrower of any of the Obligations. 
 (c)
Remedies. In case any one or more of the Events of Default shall have occurred and be continuing, and whether or not the Administrative Agent (acting at the direction of the Majority Lenders) shall have accelerated the maturity of the
Loans pursuant to Section 12.2(a), the Administrative Agent may, and, upon the direction of the Majority Lenders, shall proceed to protect and enforce on behalf of the Secured Parties rights by suit in equity, action at law or other
appropriate proceeding, whether for the specific performance of any covenant or agreement contained in this Credit Agreement and the other Loan Documents, including, as permitted by applicable law, the obtaining of the ex part appointment of a
receiver, and, if such amount shall have become due, by declaration or otherwise, proceed to enforce the payment thereof or any other legal or equitable right. 
 (d) Generally. No remedy herein conferred upon the Administrative Agent (acting for the benefit of the Secured Parties) is intended to be exclusive of any other remedy and each and every
remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute or any other provision of law. 
 12.3 Distribution of Collateral Proceeds. In the event that, following the occurrence or during the continuance of any Event of Default, the Administrative Agent or any Lender, as the case
may be, receives any monies in connection with the enforcement of any of the Security Documents, or otherwise with respect to the realization upon any of the Collateral, such monies shall be distributed for application as follows: 

(a) First, to the payment of, or (as the case may be) the reimbursement of the Administrative Agent for, or in respect of,
all reasonable costs, expenses, disbursements and losses which shall have been incurred or sustained by the Administrative Agent in connection with the collection of such monies by the Administrative Agent, for the exercise, protection or
enforcement by the Administrative Agent of all or any of the rights, remedies, powers and privileges of the Administrative Agent under this Credit Agreement or any of the other Loan Documents or in respect of the Collateral; 

(b) Second, to the Persons in the amounts and relative priority set forth in clauses (i) through
(xi) inclusive of Section 3.2(b); 
 (c) Third, upon payment and satisfaction in full or
other provisions for payment in full satisfactory to the Lenders and the Administrative Agent of all of the Obligations, to the payment of any obligations required to be paid pursuant to Section 9-608(a)(1)(C) or 9 615(a)(3) of the UCC of the
State of New York; and 
 (d) Fourth, the excess, if any, shall be returned to the Borrower or to such other
Persons as are entitled thereto. 
 12.4 Quiet Enjoyment. The Liens under the Security Documents on the Owner Containers and
related Leases are subject to the right to the quiet enjoyment of the related Owner Containers by the applicable Lessee, so long as no “event of default” has occurred and is continuing under the applicable Lease. The Lenders and the
Administrative Agent shall not take or cause to be taken any action contrary to such right of quiet enjoyment. 

  
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	13.	ADMINISTRATIVE AGENT. 

 13.1
Appointment and Authority. Each of the Lenders hereby irrevocably appoints Wells Fargo Securities LLC to act on its behalf as the Administrative Agent hereunder and under the other Loan Documents, and as collateral agent under the
Security Agreement, and authorizes the Administrative Agent to enter into the Loan Documents on behalf of the Lenders take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or
thereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this Section 13.1 are solely for the benefit of the Administrative Agent and the Lenders, and the Borrower shall not have rights as a
third party beneficiary of any of such provisions. 
 13.2 Rights as a Lender. The Person serving as the Administrative Agent
hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall, unless otherwise
expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial
advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any of its Affiliates as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the
Lenders. 
 13.3 Exculpatory Provisions. The Administrative Agent shall not have any duties or obligations except those expressly
set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, the Administrative Agent: 
 (a) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default or an Event of Default has occurred and is continuing; 

(b) shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary
rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Majority Lenders (or such other number or percentage of the Lenders as shall be
expressly provided for herein or in the other Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or
that is contrary to any Loan Document or applicable law; and 
 (c) shall not, except as expressly set forth
herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as
the Administrative Agent or any of its Affiliates in any capacity. 
 The Administrative Agent shall not be
liable for any action taken or not taken by it (i) with the consent or at the request of the Majority Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith
shall be necessary, under the circumstances as provided in Sections 15.12 and 12.2(a) or (b)) or (ii) in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have
knowledge of any Default or Event of Default unless and until notice describing such Default or Event of Default is given to the Administrative Agent by the Borrower or a Lender. 

The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any
statement, warranty or representation made in or in connection with this Credit Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or
therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default or Event of Default, (iv) the validity,

  
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enforceability, effectiveness or genuineness of this Credit Agreement, any other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set
forth in Section 11 or 12 or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. 
 13.4 Reliance by Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent,
statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper
Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any
condition hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent shall have
received notice to the contrary from such Lender prior to the making of such Loan. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not
be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 
 13.5
Delegation of Duties. The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub agents appointed by the Administrative
Agent. The Administrative Agent and any such sub agent may perform any and all of its duties and exercise its rights and powers by or through its respective Related Parties. The exculpatory provisions of this Section 13 shall apply to
any such sub agent and to the Related Parties of the Administrative Agent and any such sub agent, and shall apply to its respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as
Administrative Agent. 
 13.6 Resignation of Administrative Agent. The Administrative Agent may at any time give notice of its
resignation to each Lender, each Interest Rate Hedge Counterparty and the Borrower. Upon receipt of any such notice of resignation, the Majority Lenders shall have the right, with the consent of the Borrower, to appoint a successor. If no such
successor shall have been so appointed by the Majority Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may on behalf of
the Lenders appoint a successor Administrative Agent meeting the qualifications set forth above; provided that if the Administrative Agent shall notify the Borrower and the Lenders that no qualifying Person has accepted such appointment, then such
resignation shall nonetheless become effective in accordance with such notice and (1) the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of
any collateral security held by the Administrative Agent on behalf of the Lenders under any of the Loan Documents, the retiring Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent
is appointed) and (2) all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender directly, until such time as the Majority Lenders appoint a
successor Administrative Agent as provided for above in this Section 13.6. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights,
powers, privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged
therefrom as provided above in this Section 13.6). The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such
successor. After the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Section 13.6 and Section 15.3 shall continue in effect for the benefit of such
retiring Administrative Agent, its sub agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was acting as Administrative Agent. 

  
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 In the event that (i) the Administrative Agent, whether in its capacity as the
Administrative Agent or a Lender, does not consent (or fails to respond) to a proposed amendment, modification or waiver to any provision of this Credit Agreement or any other Loan Document requested by the Borrower and (ii) such proposed
amendment, modification or waiver has been approved by the Majority Lenders, the Borrower may, upon (x) delivery of written notice thereof to the Administrative Agent, and (y) receipt by the Administrative Agent of the amount calculated in
accordance with Section 15.14 in connection with a transfer of the Loans by the Administrative Agent, require that the Administrative Agent promptly resign from such position, such resignation, and the appointment of a successor
Administrative Agent to be consummated in accordance with the first paragraph of this Section 13.6. 
 13.7 Non-Reliance on
Administrative Agent and Other Lenders. Each Lender acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as
it has deemed appropriate, made its own credit analysis and decision to enter into this Credit Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of
their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Credit Agreement, any other Loan Document or
any related agreement or any document furnished hereunder or thereunder. 
 13.8 Administrative Agent May File Proofs of Claim. In
case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Borrower, the Administrative Agent (irrespective of whether the
principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention
in such proceeding or otherwise: 
 (a) to file and prove a claim for the whole amount of the principal and
interest owing and unpaid in respect of the Loans and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the Administrative Agent
(including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel) and all other amounts due the Lenders and the Administrative Agent under
Sections 5.1 and 15.3 allowed in such judicial proceeding; and 
 (b) to collect and receive any
monies or other property payable or deliverable on any such claims and to distribute the same; 
 and any
custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent and, in the event that the
Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its
agents and counsel, and any other amounts due the Administrative Agent under Sections 5.1 and 15.3. 
 Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement, adjustment or
composition affecting the Obligations or the rights of any Lender or to authorize the Administrative Agent to vote in respect of the claim of any Lender in any such proceeding. 

  
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 13.9 Collateral Matters. 

(a) Each Lender hereby designates Wells Fargo Securities LLC as Collateral Agent under the Security Agreement and the
other Security Documents, and each Interest Rate Hedge Counterparty in accepting the benefits available to it under the Security Documents is hereby deemed to consent to the appointment of Wells Fargo Securities LLC as Collateral Agent. All of the
indemnifications, protections or other rights under the provisions of this Section 13 applicable to the Administrative Agent shall be equally applicable to the Person acting as the Collateral Agent. 

(b) The Secured Parties irrevocably authorize the Administrative Agent and/or the Collateral Agent, at its option and in
its discretion, 
 (i) to release any Lien on any property granted to or held by the Administrative Agent under
any Loan Document (i) upon termination of the Aggregate Commitments and payment in full of all Obligations (other than contingent indemnification obligations), (ii) that is sold or to be sold as part of or in connection with any sale
permitted hereunder or under any other Loan Document, or (iii) subject to Section 15.12, if approved, authorized or ratified in writing by the Majority Lenders; 

(ii) to subordinate any Lien on any property granted to or held by the Administrative Agent under any Loan Document to the
holder of any Permitted Lien; and 
 (iii) to take the actions with respect to the Collateral as are set forth in
the Security Documents. 
 (c) The Secured Parties hereby agree that the Security Documents may be enforced only
by the Administrative Agent or the Collateral Agent and that no Secured Party shall have any right individually to seek to enforce or to enforce the Security Documents to realize upon the security to be granted thereby, it being understood and
agreed that such rights and remedies may be exercised by the Administrative Agent and/or the Collateral Agent upon the terms of this Credit Agreement and the Security Documents. 

(d) Upon request by the Administrative Agent at any time, the Majority Lenders and each Interest Rate Hedge Counterparty
will confirm in writing the Administrative Agent’s authority to release or subordinate its interest in particular types or items of property. 
 13.10 Delivery of Documents. The Administrative Agent shall promptly forward to a Person the original or a copy of any document which is delivered to the Administrative Agent for such Person
by any other Person. 
  

	14.	SUCCESSORS AND ASSIGNS. 

 14.1
General Conditions. The provisions of this Credit Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that the Borrower may not assign or
otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (a) to
an Eligible Assignee in accordance with the provisions of Section 14.2, (b) by way of participation in accordance with the provisions of Section 14.4, or (c) by way of pledge or assignment of a security interest
subject to the restrictions of Section 14.7 (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Credit Agreement, expressed or implied, shall be construed to confer upon any Person
(other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in Section 14.4 and, to the extent expressly contemplated hereby, the Related Parties of each of the
Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Credit Agreement or any of the other Loan Documents. 

  
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	14.2	Assignments. Any Lender may at any time assign to one or more Eligible Assignees all or a portion of its rights and obligations under this Credit
Agreement (including all or a portion of its Commitment and the Loans at the time owing to it); provided that: 

 (a) except in the cases of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the time owing to it, or of an assignment to a Lender, an Affiliate of a
Lender (other than the Borrower) or an Approved Fund, the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder), or, if the applicable Commitment is not then in effect, the principal outstanding balance of
the Loan of the assigning Lender subject to each such assignment (determined as of the date on which the Assignment and Acceptance with respect to such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000 unless
each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower, otherwise consent (each such consent not to be unreasonably withheld or delayed); 

(b) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s
rights and obligations under this Credit Agreement with respect to the Loan or the Commitment assigned; 
 (c)
the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Acceptance, together with a processing and recordation fee of $3,500, and the Eligible Assignee, if it shall not be a Lender, shall deliver to the
Administrative Agent an Administrative Questionnaire. 
 Subject to acceptance and recording thereof by the
Administrative Agent pursuant to Section 14.3, from and after the effective date specified in each Assignment and Acceptance, the assignee thereunder shall be a party to this Credit Agreement and, to the extent of the interest assigned
by such Assignment and Acceptance, have the rights and obligations of a Lender under this Credit Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Acceptance, relinquish its rights
and be released from its obligations under this Credit Agreement (and, in the case of an Assignment and Acceptance covering all of the assigning Lender’s rights and obligations under this Credit Agreement, such Lender shall cease to be a party
hereto) but shall continue to be entitled to the benefits of (i) Sections 5.2, 5.5 and 5.6, with respect to facts and circumstances occurring prior to the effective date of such assignment and
(ii) Section 15.3 notwithstanding such assignment. Any assignment or transfer by a Lender of rights or obligations under this Credit Agreement that does not comply with this Section 14.2 shall be null and void.

 14.3 Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at the
Administrative Agent’s Office a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts of the Loans owing to, each
Lender pursuant to the terms hereof from time to time (the “Register”). In addition, Administrative Agent will maintain on the Register information regarding the designation, and revocation of designation, of any Lender as a
Defaulting Lender. The entries in the Register shall be conclusive, and the Borrower, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all
purposes of this Credit Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 

14.4 Participations. Any Lender may at any time sell participations to any Person (other than a natural person, the Borrower, TL or any
Affiliate of TL) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Credit Agreement (including all or a portion of its Commitment and/or the Loans owing to it); provided that
(a) such Lender’s obligations under this Credit Agreement shall remain unchanged, (b) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, and (c) the Borrower, the
Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Credit Agreement. 

  
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 Any agreement or instrument pursuant to which a Lender sells such a participation shall
provide that such Lender shall retain the sole right to enforce this Credit Agreement and to approve any amendment, modification or waiver of any provision of this Credit Agreement; provided that such agreement or instrument may provide that such
Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver of the type described in Section 15.12(a) or (b), that in each case, affects such Participant. Subject to the last paragraph
of this Section 14.4, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 5.2, 5.5 and 5.6 to the same extent as if it were a Lender and had acquired its interest by assignment
pursuant to Section 14.2. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 15.1 as though it were a Lender, provided such Participant agrees to be subject to
Section 15.1 as though it were a Lender. 
 A Participant shall not be entitled to receive any greater payment under
Sections 5.2.2 and 5.6 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s
prior written consent (not to be unreasonably withheld or delayed). 
 14.5 Certain Pledges. A Lender may at any time grant a
security interest in all or any portion of its rights under this Credit Agreement to secure obligations of such Lender, including without limitation (a) any pledge or assignment to secure obligations to any of the twelve Federal Reserve Banks
organized under §4 of the Federal Reserve Act, 12 U.S.C. §341 and (b) with respect to any Lender that is a Fund, to any lender or any trustee for, or any other representative of, holders of obligations owed or securities issued by
such Fund as security for such obligations or securities or any institutional custodian for such Fund or for such lender; provided that no such grant shall release such Lender from any of its obligations hereunder or substitute any such secured
party for such Lender as a party hereto. 
  

	15.	PROVISIONS OF GENERAL APPLICATIONS 

15.1 Setoff. Borrower hereby grants to the Administrative Agent and each Lender and Interest Rate Hedge Counterparty a continuing lien,
security interest and right of setoff as security for all Obligations, whether now existing or hereafter arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of
the Administrative Agent, such Lender (or any Lender Affiliate) and such Interest Rate Hedge Counterparty and their successors and assigns or in transit to any of them. Regardless of the adequacy of any collateral, if any of the Obligations are due
and payable and have not been paid or any Event of Default shall have occurred, any deposits or other sums credited by or due from any such Secured Party to the Borrower and any securities or other property of the Borrower in the possession of such
Secured Party may be applied to or set off by such Lender against the payment of Obligations, subject to Section 4.4; provided, that in the event that any Defaulting Lender will exercise any such right of setoff, (a) all
amounts so set off will be paid over immediately to Administrative Agent for further application in accordance with the provisions of Section 15.13 and, pending such payment, will be segregated by such Defaulting Lender from its other
funds and deemed held in trust for the benefit of Administrative Agent and the other Lenders, and (b) the Defaulting Lender will provide promptly to Administrative Agent a statement describing in reasonable detail the Obligations owing to such
Defaulting Lender as to which it exercised such right of setoff. ANY AND ALL RIGHTS TO REQUIRE ANY SECURED PARTY TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF
SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. 

15.2 Expenses. The Borrower agrees to pay (a) the reasonable costs of the Administrative Agent and its Affiliates, including without
limitation the reasonable fees, expenses and disbursements of counsel to the Administrative Agent, incurred in connection with the preparation, syndication, administration or 

  
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interpretation of the Loan Documents and other instruments mentioned herein, any amendments, modifications, approvals, consents or waivers hereto or hereunder requested by the Borrower, or the
cancellation of any Loan Document upon payment in full in cash of all of the Obligations or pursuant to any terms of such Loan Document for providing for such cancellation, (b) the cost and expenses of inspections and visits to be paid by the
Borrower pursuant to Section 8.2 hereof, (c) all reasonable out-of-pocket expenses (including without limitation reasonable attorneys’ fees and costs and reasonable consulting, accounting, appraisal, commercial finance
examination, investment banking and similar professional fees and charges) incurred by any Lender or the Administrative Agent in connection with (i) the enforcement of or preservation of rights under any of the Loan Documents against the
Borrower after the occurrence of an Event of Default and (ii) any litigation, proceeding or dispute whether arising hereunder or otherwise, in any way related to any Lender’s or the Administrative Agent’s role as a Lender or
Administrative Agent and (d) all reasonable fees, expenses and disbursements of the Administrative Agent incurred in connection with UCC searches or UCC or other lien filings relating to the Loan Documents. The covenants contained in this
Section 15.2 shall survive payment or satisfaction in full of all other Obligations. 
 15.3 Indemnification. The
Borrower agrees to indemnify and hold harmless the Administrative Agent, its Affiliates (other than the Borrower), its sub-agents, each Lender, and each Related Party of any of the foregoing (each, an “Indemnified Party”) from and
against any and all claims, actions and suits whether groundless or otherwise, and from and against any and all liabilities, losses, damages and related expenses of every nature and character, other than taxes (collectively,
“Claims”), arising out of this Credit Agreement or any of the other Loan Documents, the performance by the respective parties of their obligations hereunder or thereunder, or the consummation of the transactions contemplated hereby
including, without limitation, (a) any actual or proposed use by the Borrower of the proceeds of any of the Loans, (b) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based
on contract, tort, or any other theory, and regardless of whether any Indemnified Party is a party thereto, (c) any civil penalty or fine assessed by OFAC against, and all reasonable costs and expenses (including reasonable counsel fees and
disbursements) incurred in connection with defense thereof by, the Administrative Agent or any Lender as a result of conduct of the Borrower that violates a sanction enforced by OFAC or (d) with respect to the Borrower and its properties and
assets, the violation of any Environmental Law, the presence, disposal, escape, seepage, leakage, spillage, discharge, emission, release or threatened release of any Hazardous Substances or any action, suit, proceeding or investigation brought or
threatened with respect to any Hazardous Substances (including, but not limited to, claims with respect to wrongful death, personal injury or damage to property), in each case including, without limitation, the reasonable fees and disbursements of
counsel incurred in connection with any such investigation, litigation or other proceeding; provided, however, the Borrower shall not be responsible for any Claims under this Section 15.3 to the extent (i) caused by such Indemnified
Party’s own gross negligence or willful misconduct or (ii) brought by (x) any Indemnified Party against another Indemnified Party or (y) the Borrower, TL or any Affiliate of TL against any Indemnified Party. In litigation, or the
preparation therefor, the Lenders and the Administrative Agent and its affiliates shall be entitled to select their own counsel. To the extent that the respective interests of the Lenders and the Administrative Agent in such litigation do not, and
reasonably could not be expected to, conflict (such determination of existing or potential conflict to be made by the Lenders and the Administrative Agent using their reasonable good faith judgment), the Lenders and the Administrative Agent shall
use common counsel in connection with such litigation and the preparation therefor. If, and to the extent that the obligations of the Borrower under this Section 15.3 are unenforceable for any reason, the Borrower hereby agrees to make
the maximum contribution to the payment in satisfaction of such obligations which is permissible under applicable law. The covenants contained in this Section 15.3 shall survive payment or satisfaction in full of all other Obligations.

  

	15.4	Treatment of Certain Confidential Information. 

 15.4.1 Confidentiality. Each of the Lenders and the Administrative Agent agrees, on behalf of itself and each of its Affiliates, directors, officers, employees and representatives (each, a
“Recipient”), to use reasonable precautions to keep confidential, in accordance with their customary procedures for handling confidential information of the same nature and in accordance with safe and sound banking

  
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practices, any information supplied to it by, or on behalf of, the Borrower, TL or any Affiliate of TL in connection with any Loan Document (collectively, “Information”);
provided that nothing herein shall limit the disclosure of any Information (a) (i) after such Information shall have become public other than through a violation of this Section 15.4, or (ii) becomes available to any
of the Lenders or the Administrative Agent from a source other than the Borrower, TL or any Affiliate of TL and, to such Recipient’s knowledge, not in breach of any obligation of confidentiality, (b) to the extent required by statute,
rule, regulation or judicial process (provided that, unless prohibited by applicable law, such Recipient shall provide to Borrower prompt notice of any such requirement so that Borrower may, at its sole expense, seek a protective order or take other
appropriate legal action), (c) to counsel for any of the Lenders or the Administrative Agent, or to auditors or accountants who are under an obligation to keep such Information confidential, (d) to bank examiners or any other regulatory
authority having jurisdiction over any Lender or the Administrative Agent, (e) to any party hereto, (f) in connection with the enforcement of rights or remedies hereunder or under any other Loan Document, (g) to a Lender Affiliate or
an Affiliate of the Administrative Agent (so long as such Person agrees to be bound by the provisions of this Section 15.4) who has a need to know the Information for purposes of evaluating or administering the Loan Documents or the
Obligations, (h) to any actual or prospective assignee or participant that is not a Competitor, or any actual or prospective Interest Rate Hedge Counterparty that is not a Competitor, or its advisors (so long as such Person agrees to be bound
by the provisions of this Section 15.4) who has a need to know the Information for purposes of evaluating or administering the Loan Documents or the Obligations or (i) with the prior written consent of the Borrower. Each Recipient
agrees not to use any Information for any purpose or in any manner other that evaluating the performance of the Borrower under the Loan Documents and enforcing the rights, remedies and obligations hereunder and under the other Loan Documents.
Without the prior written consent of the Borrower, no Recipient shall be permitted to refer to the Borrower, TL or any Affiliate of TL in connection with any advertising, promotion or marketing undertaken by such Recipient. 

15.5 Survival of Covenants, etc. All covenants, agreements, representations and warranties made herein, in any of the other Loan Documents
or in any documents or other papers delivered by or on behalf of the Borrower pursuant hereto shall be deemed to have been relied upon by the Lenders and the Administrative Agent, notwithstanding any investigation heretofore or hereafter made by any
of them, and shall survive the making by the Lenders of any Loans as herein contemplated, and shall continue in full force and effect so long as any amount due under this Credit Agreement or any of the other Loan Documents remains outstanding or any
Lender has any Commitment. 
 15.6 Notices. Except as otherwise expressly provided in this Credit Agreement, all notices
and other communications made or required to be given pursuant to this Credit Agreement shall be in writing and shall be delivered in hand, mailed by United States registered or certified first class mail, postage prepaid, sent by overnight courier,
or sent by facsimile or email as follows: 
 (a) if to the Borrower, at Canon’s Court, 22 Victoria Street,
Hamilton HM12, Bermuda, with a copy to Textainer Equipment Management (U.S.) Limited, 650 California Street, 16th Floor, San Francisco, CA 94108; Facsimile: 415-434-0599; or at such other addresses for notice as the Borrower shall last have
furnished in writing to the Person giving the notice; 
 (b) if to the Administrative Agent, at Wells Fargo
Securities, LLC, 301 South College Street, MAC 010153-082, Charlotte, NC 28288, Attention: Jessica Gray, or such other address for notices as the Administrative Agent shall last have furnished in writing to the Person giving the notice; 

(c) if to any Lender, at such Lender’s address set forth on Schedule 1 hereto, or such other address for
notice as such Lender shall have last furnished in writing to the Person giving the notice; and 
 (d) if to any
Interest Rate Hedge Counterparty, at the address set forth in the related Interest Rate Hedging Agreement. 

  
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 Any such notice or demand shall be deemed to have been duly given or made
and to have become effective (i) if delivered by hand, overnight courier, registered or certified first-class mail, postage prepaid, on the date of receipt thereof, and (ii) if delivered by electronic means, on the date when sent (provided
that, if not given during the recipient’s normal business hours, it will be deemed to have been given on the following Business Day). 

15.7 Governing Law; Jurisdiction. (a) This Credit Agreement and, except as otherwise specifically provided therein, each of the other
Loan Documents shall for all purposes be construed in accordance with and governed by the laws of the State of New York (including Sections 5-1401 and 5-1402 of the General Obligations Law but otherwise excluding the laws applicable to conflicts or
choice of law). 
 (b) Borrower agrees that any suit for the enforcement of this Credit Agreement or any of the
other Loan Documents may be brought in the courts of the State of New York or any Federal court sitting therein and consents to the nonexclusive jurisdiction of such court and service of process in any such suit being made upon the Borrower by mail
at the address specified in Section 15.6. The Borrower hereby waives any objection that it may now or hereafter have to the venue of any such suit or any such court or that such suit is brought in an inconvenient court. 

15.8 Headings. The captions in this Credit Agreement are for convenience of reference only and shall not define or limit the provisions
hereof. 
 15.9 Counterparts. This Credit Agreement and any amendment hereof may be executed in several counterparts and by
each party on a separate counterpart, each of which when executed and delivered shall be an original, and all of which together shall constitute one instrument. In proving this Credit Agreement it shall not be necessary to produce or account for
more than one such counterpart signed by the party against whom enforcement is sought. Delivery by facsimile or PDF file by any of the parties hereto of an executed counterpart hereof or of any amendment or waiver hereto shall be as effective as an
original executed counterpart hereof or of such amendment or waiver and shall be considered a representation that an original executed counterpart hereof or such amendment or waiver, as the case may be, will be delivered. 

15.10 Entire Agreement, etc. The Loan Documents and any other documents executed in connection herewith or therewith express the entire
understanding of the parties with respect to the transactions contemplated hereby. Neither this Credit Agreement nor any term hereof may be changed, waived, discharged or terminated, except as provided in Section 15.12. 

15.11 Waiver of Jury Trial. Each of the parties hereto hereby waives its rights to a jury trial with respect to any action or claim arising
out of any dispute in connection with this Credit Agreement or any of the other Loan Documents, any rights or obligations hereunder or thereunder or the performance of such rights and obligations or any course of conduct, course of dealings,
statements (whether verbal or written) or actions of any party, including any course of conduct, course of dealings, statements or actions of the Administrative Agent or any Lender relating to the administration of the loans or enforcement of the
Loan Documents and agrees that it will not seek to consolidate any such action with any other action in which a jury trial cannot be or has not been waived. Except as prohibited by law, Borrower hereby waives any right it may have to claim or
recover in any litigation referred to in the preceding sentence any special, exemplary, punitive or consequential damages or any damages other than, or in addition to, actual damages. Borrower (a) certifies that no representative, agent or
attorney of any Lender or the Administrative Agent has represented, expressly or otherwise, that the Administrative Agent would not, in the event of litigation, seek to enforce the foregoing waivers and (b) acknowledges that the Administrative
Agent and the Lenders have been induced to enter into this Credit Agreement and the other Loan Documents to which it is a party by, among other things, the waivers and certifications contained herein. 

15.12 Consents, Amendments, Waivers, Etc. Any consent or approval required or permitted by this Credit Agreement to be given by the Lenders
may be given, and any term of this Credit Agreement, the other Loan Documents may be amended, and the performance or observance by the Borrower of any 

  
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terms of this Credit Agreement, the other Loan Documents or the occurrence of any breach or Event of Default may be waived (either generally or in a particular instance and either retroactively
or prospectively) with, but only with, the written consent of the Borrower and the written consent of the Majority Lenders. Notwithstanding the foregoing, no amendment, modification or waiver shall: 

(a) without the written consent of the Borrower and each Lender: 

(i) reduce or forgive the principal amount of the Loans of such Lender, or reduce the rate of interest on the Loans of
such Lender or the priority thereof or the amount of any Fees owing to such Lender (other than (A) interest on the Loans accruing pursuant to Section 5.8 following the effective date of any waiver by the Majority Lenders of the
Event of Default relating thereto and (B) waiver of the application of such default interest as contemplated by the parenthetical phrase in clause (iii) below); 

(ii) increase the amount of such Lender’s Commitment or extend the expiration date of such Lender’s Commitment;

 (iii) postpone or extend the Maturity Date or any other regularly scheduled dates for payments of principal
of, or interest on, such Lender’s Loans or any Fees or other amounts payable to such Lender (it being understood that (A) a waiver of the application of the default rate of interest pursuant to Section 5.8, and (B) any
vote to rescind any acceleration made pursuant to Section 12.2(a) of amounts owing with respect to the Loans and other Obligations, shall require only the approval of the Majority Lenders); 

(iv) other than as contemplated by Section 13.9 or any transaction permitted by the terms of this Credit
Agreement, release any of the Collateral (excluding, if the Borrower becomes a debtor under the Federal Bankruptcy Code or other applicable insolvency laws, the release of “cash collateral”, as defined in Section 363(a) of the federal
Bankruptcy Code or any analogous provision of any applicable insolvency law pursuant to a cash collateral stipulation with the debtor, which shall require only the approval of the Majority Lenders); or 

(v) amend or waive this Section 15.12 or the definition of “Majority Lenders”; 

(b) without the written consent of the Administrative Agent, amend or waive Section 13 or any other provision
applicable to the Administrative Agent; or 
 (c) without the consent of any affected Interest Rate Hedge
Counterparty, reduce, delay, forgive or change the relative priority of any amounts owing to such Person in accordance with the terms hereof or modify any other provision of this Credit Agreement in a manner that could adversely affect such Interest
Rate Hedge Counterparty. 
 Notwithstanding anything to the contrary herein, no Defaulting Lender will have any
right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the consent of the applicable Lenders
other than Defaulting Lenders), except that (1) the Commitment of any Defaulting Lender may not be increased or extended without the consent of such Lender, (2) the amount of principal and accrued fees and interest owing to any Defaulting
Lender may not be reduced without the consent of such Lender, and (3) any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender more adversely than other
affected Lenders will require the consent of such Defaulting Lender. 

  
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 No waiver shall extend to or affect any obligation not expressly waived
therein, or impair any right consequent thereto. No course of dealing or delay or omission on the part of the Administrative Agent or any Lender in exercising any right shall operate as a waiver thereof or otherwise be prejudicial thereto. No notice
to or demand upon the Borrower shall entitle the Borrower to other or further notice or demand in similar or other circumstances. 
 15.13
Defaulting Lenders. 
 15.13.1 Adjustments. Notwithstanding anything to the contrary contained in this
Agreement, if any Lender becomes a Defaulting Lender, then, until such time as that Lender is no longer a Defaulting Lender, to the extent permitted by applicable Law: 

(a) Waivers and Amendments. That Defaulting Lender’s right to approve or disapprove any amendment, waiver or
consent with respect to this Agreement will be restricted as set forth in Section 15.12. 
 (b)
Reallocation of Payments. Any payment of principal, interest, fees or other amounts received by Administrative Agent for the account of that Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or
otherwise, and including any amounts made available to Administrative Agent by that Defaulting Lender pursuant to Section 15.1), will be applied at such time or times as may be determined by Administrative Agent as follows:
FIRST, to the payment of any amounts owing by that Defaulting Lender to Administrative Agent hereunder; SECOND, as the Borrower may request (so long as no Event of Default exists), to the funding of any Loan in respect
of which that Defaulting Lender has failed to fund its Commitment Percentage thereof at a time when all of the conditions precedent set forth in Sections 10 and 11 were satisfied with respect to such Loan, as determined by
Administrative Agent; THIRD, to the payment of any amounts owing to the Lenders as a result of any judgment of a court of competent jurisdiction obtained by any Lender against that Defaulting Lender as a result of that Defaulting
Lender’s breach of its obligations under this Credit Agreement; FOURTH, so long as no Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction
obtained by the Borrower against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Credit Agreement; and FIFTH, to that Defaulting Lender or as otherwise directed by a court of
competent jurisdiction provided that if (1) such payment is a payment of the principal amount of any Loans in respect of which that Defaulting Lender has not fully funded its Commitment Percentage and (2) such Loans were made at a time
when the conditions set forth in Sections 10 and 11 were satisfied or waived, such payment will be applied solely to pay the Loans of all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any
Loans of that Defaulting Lender. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender pursuant to this Section 15.13.1(b) will be deemed
paid to and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto. 
 (c) Certain
Fees. That Defaulting Lender will not be entitled to receive any Commitment Fee pursuant to Section 5.1 for any period during which that Lender is a Defaulting Lender (and the Borrower will not be required to pay any such fee that
otherwise would have been required to have been paid to that Defaulting Lender). 
 15.13.2 Defaulting Lender
Cure. If (x) a Defaulted Lender shall have fully funded its Commitment Percentage of all Loans and other amounts it has previously failed to fund or (y) the Borrower and the Administrative Agent agree in writing in their sole
discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, then the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set
forth therein, that Lender will, to the extent applicable, purchase that portion of outstanding Loans of the other Lenders or take such other actions as Administrative Agent may determine to be necessary to cause the Loans and funded to be held on a
pro rata basis by the Lenders in accordance with their Commitment 

  
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Percentages, whereupon that Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on
behalf of the Borrower while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a
waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. 
  

	15.14	 Replacement of Lenders. 

 (a) In the event that any Lender (i) delivers a certificate requesting compensation pursuant to Section 5.6, (ii) delivers a notice described in Section 5.4 or
5.5, (iii) the Borrower is required to pay any additional amount to any Lender or any Governmental Authority on account of any Lender pursuant to Section 5.2.2, (iv) does not consent (or fails to respond) to a proposed
amendment, modification or waiver to any provision of this Credit Agreement or any other Loan Document requested by the Borrower or (v) is a Defaulting Lender, the Borrower may, at its sole expense and effort, upon notice to such Lender and the
Administrative Agent, require such Lender to transfer and assign, without recourse (in accordance with and subject to the restrictions contained in Section 14.2), all of its interests, rights and obligations under this Credit Agreement
to an assignee that shall assume such assigned obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that: 
 (i) the Borrower shall have paid to the Administrative Agent the assignment fee specified in Section 14.2; 

(ii) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans, accrued
interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 5.7) from the assignee (to the extent of such outstanding principal and accrued interest
and fees) or the Borrower (in the case of all other amounts); 
 (iii) in the case of any such assignment
resulting from a claim for compensation under Section 5.6 or payments required to be made pursuant to Section 5.2.2, such assignment will result in a reduction in such compensation or payments thereafter; and 

(iv) such assignment does not conflict with applicable laws. 

In connection with any such replacement, if the replaced Lender does not execute and deliver to the Administrative Agent a
duly completed Assignment and Acceptance reflecting such replacement within five Business Days of the date on which the replacement Lender executes and delivers such Assignment and Acceptance to the replaced Lender, then such replaced Lender shall
be deemed to have executed and delivered such Assignment and Acceptance. A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the
Borrower to require such assignment and delegation cease to apply. 
 (b) If (i) any Lender shall request
compensation under Section 5.6, (ii) any Lender delivers a notice described in Section 5.4 or 5.5, or (iii) the Borrower is required to pay any additional amount to any Lender or any Governmental Authority on
account of any Lender pursuant to Section 5.2.2, then such Lender shall use reasonable efforts (which shall not require such Lender to incur an unreimbursed loss or unreimbursed cost or expense or otherwise take any action inconsistent
with its internal policies or legal or regulatory restrictions or suffer any disadvantage or burden deemed by it to be significant) (x) to file any certificate or document reasonably requested in writing by the Borrower or (y) to assign
its rights and delegate and transfer its obligations hereunder to another of its offices, branches or affiliates, if such filing or 

  
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assignment would reduce its claims for compensation under Section 5.6, enable it to withdraw its notice pursuant to Section 5.4 or 5.5, or would reduce amounts
payable pursuant to Section 5.2.2, as the case may be, in the future. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such filing or assignment, delegation and transfer.

 15.15 Severability. The provisions of this Credit Agreement are severable and if any one clause or provision hereof shall be
held invalid or unenforceable in whole or in part in any jurisdiction, then such invalidity or unenforceability shall affect only such clause or provision, or part thereof, in such jurisdiction, and shall not in any manner affect such clause or
provision in any other jurisdiction, or any other clause or provision of this Credit Agreement in any jurisdiction. Without limiting the foregoing provisions of this Section 15.15, if and to the extent that the enforceability of any
provisions in this Agreement relating to Defaulting Lenders will be limited by Bankruptcy Laws, as determined in good faith by Administrative Agent then such provisions will be deemed to be in effect only to the extent not so limited. 

15.16 USA Patriot Act. Each Lender hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Improvement and
Reauthorization Act of 2005 (H.R. 3199) (the “Patriot Act”), it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that
will allow such Lender to identify the Borrower in accordance with the Patriot Act. 
 15.17 Third Party Beneficiary. Each
Interest Rate Hedge Counterparty shall be an express third party beneficiary with respect to the rights afforded to such Interest Rate Hedge Counterparty under this Credit Agreement and the other Loan Documents. 

15.18 Relationship of Administrative Agent and Borrower. Notwithstanding that the Administrative Agent acknowledges that Borrower is an
Affiliate of the Administrative Agent, the decisions of the Administrative Agent hereunder, including credit-related or any other type of decisions, consents, waivers, determinations or any other actions or courses of action to be made by the
Administrative Agent shall be made without regard to any such affiliate relationship and shall be made by the Administrative Agent solely in its capacity as lender and/or Administrative Agent, in the exercise of its sole and absolute judgment and in
fulfillment of its obligations as Administrative Agent for the Lenders hereunder, subject in each case to every law, rule, regulation or treaty, interpretation, guideline or directive or the application thereof by any Governmental Authority (whether
or not having the force of law) applicable to the Administrative Agent in its capacity as such or as a Lender. In determining whether or not to reject a Finance Lease pursuant to Section 11.4(b)(ii)(y), the Administrative Agent shall use
its ordinary credit judgment and take into consideration only the factors that it would ordinarily consider in determining whether such Finance Lease is acceptable to it. For the avoidance of doubt, it will make its determination in the same manner
it would have with respect to a similar funding request under similar circumstances made by a similarly situated borrower that is not an Affiliate of the Administrative Agent or the Lender. 

[Remainder of page intentionally left blank] 

  
 -68-

 IN WITNESS WHEREOF, the undersigned have duly executed this Credit Agreement as of the date
first set forth above. 
  

			
	TW CONTAINER LEASING, LTD., as Borrower
		
	By:	 	/S/ ROBERT D. PEDERSEN
	Name:	 	
	Title:	 	
		
	By:	 	/S/ ROBERT CAPPS
	Name:	 	
	Title:	 	
	
	WELLS FARGO SECURITIES, LLC, as Administrative Agent
		
	By:	 	/S/ KEVIN C RYAN
	Name:	 	
	Title:	 	
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Lender
		
	By:	 	/S/ ROBERT CAPPS
	Name:	 	
	Title:	 	

 Credit Agreement 

 Exhibit A 

FORM OF 

ASSIGNMENT AND ACCEPTANCE 
 This Assignment and Acceptance (the “Assignment and Acceptance”) is dated as of the Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the
“Assignor”) and [Insert name of Assignee] (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (as amended, the
“Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part
of this Assignment and Acceptance as if set forth herein in full. 
 For an agreed consideration, the Assignor hereby
irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date
inserted by the Administrative Agent as contemplated below (a) all of the Assignor’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the
extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations of the Assignor under the respective facilities identified below and (b) to the extent permitted to be assigned under
applicable law, all claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or
instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all
other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (a) above (the rights and obligations sold and assigned pursuant to clauses (a) and (b) above being referred to herein
collectively as, the “Assigned Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Acceptance, without representation or warranty by the Assignor.

  

			
		
	 1.      Assignor:
	  	_______________________
		
	 2.      Assignee:
	  	_______________________
		  	Assignee is an Eligible Assignee
		
	 3.      Borrower:
	  	TW CONTAINER LEASING, LTD
		
	 4.      Administrative Agent:
	  	WELLS FARGO SECURITIES, LLC, as the Administrative Agent under the Credit Agreement
		
	 5.      Credit Agreement:
	  	The Credit Agreement, dated as of August 5, 2011, among the Borrower, the lenders parties thereto, and Wells Fargo Securities, LLC, as Administrative
Agent

			
		
	 6.      Assigned Interest:
	  	

  

							
	 Aggregate Amount of

Commitment/Loans for all
 Lenders
	  	Amount of Commitment/Loans
Assigned	  	Percentage Assigned 
of
Commitment/Loans1	 
	 $
	  	$	  	 	%	  
	 $
	  	$	  	 	%	  
	 $
	  	$	  	 	%	  

 Effective Date: _____________ ___, 20___ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF
RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 
 The terms set forth in this Assignment and Acceptance are hereby agreed to: 

 

					
	ASSIGNOR
	 [NAME OF ASSIGNOR]

		
	By:	 	 
		 	Title:	 	
	
	ASSIGNEE
	 [NAME OF ASSIGNEE]

		
	By:	 	 
		 	Title:	 	

  

					
	Accepted:
	
	 WELLS FARGO SECURITIES, LLC, as Administrative Agent

		
	By:	 	 
		 	Title:	 	

  

					
	[Consented to:]2
	
	TW CONTAINER LEASING LTD
		
	By:	 	 
		 	Title:]	 	

  
  

	1 	 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. 

	2 	 So long as no Default or Event of Default has occurred or is continuing, the consent of the Borrower is required under §14.2 of the Credit
Agreement for any assignment unless the assignment is to a Lender, an Affiliate of a Lender or an Approved Fund. 

 ANNEX 1 
 THE CREDIT AGREEMENT, DATED AS OF AUGUST 5, 2011, AMONG TW CONTAINER 
 LEASING LTD,
THE LENDERS PARTIES THERETO AND WELLS FARGO SECURITIES, LLC, 
 AS ADMINISTRATIVE AGENT 

STANDARD TERMS AND CONDITIONS FOR 
 ASSIGNMENT AND ACCEPTANCE 
 1. Representations and Warranties. 

1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the
Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim, (iii) it is not a Defaulting Lender and (iv) it has full power and authority, and has taken all action necessary, to
execute and deliver this Assignment and Acceptance and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with
the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrower,
any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective
obligations under any Loan Document. 
 1.2. Assignee. The Assignee (a) represents and warrants that (i) it has
full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Acceptance and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all
requirements of an Eligible Assignee under the Credit Agreement (subject to receipt of such consents as may be required under the Credit Agreement), (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit
Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, and (iv) it has received a copy of the Credit Agreement, together with copies of the most recent financial
statements delivered pursuant to Section 8.1 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Acceptance and to purchase
the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender; and (b) agrees that (i) it will, independently and without reliance on
the Administrative Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and
(ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 
 2. Payments. From and after the Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other
amounts) to the Assignee whether such amounts have accrued prior to, on or after the Effective Date. The Assignor and the Assignee shall make all appropriate adjustments in payments by the Administrative Agent for periods prior to the Effective Date
or with respect to the making of this assignment directly between themselves. 
 3. General Provisions. This
Assignment and Acceptance shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Acceptance may be executed in any number of counterparts, which together shall
constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and Acceptance by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Acceptance. This Assignment and
Acceptance shall be governed by, and construed in accordance with, the laws of the State of New York. 

 Exhibit D 

FORM OF LOAN REQUEST 
 Date: _____________ 
  

	To:	Wells Fargo Securities LLC 

 301
South College Street 
 MAC 010153-082 
 Charlotte, NC 28288 
 Ladies and Gentlemen: 

TW CONTAINER LEASING LTD, an exempted company with limited liability organized under the laws of Bermuda (the “Borrower”),
submits this Loan Request in connection with Section 2.2 of the Credit Agreement, dated as of August 5, 2011 (as amended, modified, supplemented or restated from time to time, the “Credit Agreement”, by and among the
Borrower, the lenders from time to time party thereto (collectively the “Lenders”), and WELLS FARGO SECURITIES, LLC, as Administrative Agent. All capitalized terms used in this Loan Request shall have the meanings specified in the
Credit Agreement unless otherwise defined herein. 
 We hereby represent, warrant and certify to you that (a) the proceeds
specified herein shall be used in accordance with the provisions of the Credit Agreement, (b) the representations and warranties of the Borrower contained in the Credit Agreement and in each other Loan Document shall be true and correct in all
material respects with the same effect as though such representations and warranties had been made on the proposed Funding Date (it being understood and agreed that any representation or warranty which by its terms is made as of a specified date
shall be required to be true and correct in all material respects only as of such specified date and to the extent that such representations and warranties relate expressly to an earlier date), (c) the Borrower has performed and complied in all
material respects with all of the terms and conditions contained in the Credit Agreement required to be performed or complied with by the Borrower prior to or at the time of the borrowing requested hereunder, and (d) at and as of the date
hereof and after giving effect to the requested Loan, no Default, Event of Default, Asset Base Deficiency or Early Amortization Event shall have occurred or would result from the making of the Loan requested hereby. 

In accordance with Section 2.2 of the Credit Agreement, the Borrower hereby requests a Loan under the Credit Agreement and that such
Loan be allocated among the Lenders in accordance with Schedule A hereto and hereby sets forth below the required information relating to such Loan: 
  

	 	(i)	the principal amount of the Loan requested is
$                    , 

  

	 	(ii)	the proposed Funding Date of such Loan is
                    , 

  

	 	(iii)	the proceeds of such Loan will be used to fund the following Finance Lease: 

 
  

 
  
 In addition, the Borrower hereby requests that the proceeds of the Loan requested hereby be distributed in accordance with the wiring instructions set forth on the flow of funds attached as
Schedule B hereto. 

 
			
	Very truly yours,
	
	TW CONTAINER LEASING LTD
		
	By:	 	3
	 Name:
	 	
	 Title:
	 	 Officer

		
	By:	 	4
	 Name:
	 	
	 Title:
	 	 Officer

  

	3	Textainer nominated officer 

	4	Wells nominated officer 

 Schedule A to Exhibit D 

 

			
	 Lenders
	  	Funding Amount
		  	

 Exhibit E 

FORM OF 

PROMISSORY NOTE 
  

			
	$                            
	  	________, 20__

 FOR VALUE RECEIVED, the undersigned TW CONTAINER LEASING, LTD., an exempted company with limited
liability organized under the laws of Bermuda (the “Borrower”), hereby promises to pay to the order of
[                                        
], a [                    ] (the “Bank”) at the Administrative Agent’s office at 301 South College Street, NC0174,
Charlotte, NC 28202-6000: 
 (a) on the Maturity Date the principal amount of [______ Million Dollars ($_______)]
or, if less, the aggregate unpaid principal amount of all Loans advanced by the Bank to the Borrower pursuant to the Credit Agreement dated as of August 5, 2011 (as amended and in effect from time to time, the “Credit
Agreement”), among the Borrower, the lenders from time to time the party hereto and the Administrative Agent; 
 (b) the principal outstanding hereunder from time to time at the times provided in the Credit Agreement; and 
 (c) interest on the principal balance hereof from time to time outstanding from the Closing Date through and including the Maturity Date at the times and at the rate provided in the Credit Agreement.

 This Note evidences borrowings under and has been issued by the Borrower in accordance with the terms of the Credit
Agreement. The Bank and any holder hereof is entitled to the benefits of and subject to the obligations contained in the Credit Agreement, the Security Documents and the other Loan Documents, and may enforce the agreements of the Borrower contained
therein, and any holder hereof may exercise the respective remedies provided for thereby or otherwise available in respect thereof, all in accordance with the respective terms thereof. All capitalized terms used in this Note and not otherwise
defined herein shall have the respective meanings set forth in the Credit Agreement. 
 The Borrower irrevocably authorizes the
Bank to make or cause to be made, at or about the time of the Funding Date of any Loan or at the time of receipt of any payment of principal of this Note, an appropriate notation on the grid attached to this Note, or the continuation of such grid,
or any other similar record, including computer records, reflecting the making of such Loan or (as the case may be) the receipt of such payment. The outstanding amount of the Loans set forth on the grid attached to this Note, or the continuation of
such grid, or any other similar record, including computer records, maintained by the Bank with respect to any Loans shall be prima facie evidence (absent manifest error) of the principal amount thereof owing and unpaid to the Bank, but the
failure to record, or any error in so recording, any such amount on any such grid, continuation or other record shall not limit or otherwise affect the obligation of the Borrower hereunder or under the Credit Agreement to make payments of principal
of and interest on this Note when due. 
 The Borrower has the right in certain circumstances and the obligation under certain
other circumstances to prepay the whole or part of the principal of this Note on the terms and conditions specified in the Credit Agreement. 

 If any one or more of the Events of Default shall occur, the entire unpaid principal amount
of this Note and all of the unpaid interest accrued thereon may become or be declared due and payable in the manner and with the effect provided in the Credit Agreement. 
 No delay or omission on the part of the Bank or any holder hereof in exercising any right hereunder shall operate as a waiver of such right or of any other rights of the Bank or such holder, nor shall any
delay, omission or waiver on any one occasion be deemed a bar or waiver of the same or any other right on any further occasion. 

The Borrower and every endorser and guarantor of this Note or the obligation represented hereby waives presentment, demand, notice,
protest and all other demands and notices in connection with the delivery, acceptance, performance, default or enforcement of this Note, and assents to any extension or postponement of the time of payment or any other indulgence, to any
substitution, exchange or release of collateral and to the addition or release of any other party or person primarily or secondarily liable. 
 THIS NOTE AND THE OBLIGATIONS OF THE BORROWER HEREUNDER ARE CONTRACTS UNDER THE LAWS OF THE STATE OF NEW YORK AND SHALL FOR ALL PURPOSES BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF SAID
STATE OF NEW YORK INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAWS THEREOF BUT OTHERWISE WITHOUT REGARD TO THE LAWS APPLICABLE TO CONFLICTS OR CHOICE OF LAW. The Borrower irrevocably and unconditionally submits, for itself and
its property, to the nonexclusive jurisdiction of the courts of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or
proceeding arising out of or relating to this Note, or for recognition or enforcement of any judgment, and each of the parties hereto irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and
determined in such New York State court or, to the fully extent permitted by applicable law, in such Federal court. The Borrower agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Note shall affect any right that the Administrative Agent or any Lender may otherwise have to bring any action or proceeding relating to this Note against
the Borrower or its properties in the courts of any jurisdiction. 

 IN WITNESS WHEREOF, the undersigned has caused this Note to be signed in its
corporate name by its duly authorized officer as of the day and year first above written. 
  

			
	TW CONTAINER LEASING LTD
		
	By:	 	 
	Name:	 	
	Title:	 	Officer
		
	By:	 	 
	Name:	 	
	Title:	 	Officer

 SCHEDULE 1 
 COMMITMENTS 
  

									
	 Lender
	  	Commitment	 	  	Commitment
Percentage	 	 Address

	 Wells Fargo Bank, National Association
	  	$	425,000,000	  	  	100%	 	301 South College Street, MAC 010153-082, Charlotte, NC 28288

  
 5

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