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CRONOS FINANCE
(BERMUDA) LIMITED (the “ Seller ”) and CF
LEASING LTD. (the “ Borrower ”), pursuant to the
Purchase Agreement, dated as of August 1, 2005 (the “
Purchase Agreement ”), hereby confirm their
understanding with respect to the sale by Seller to Borrower of
those Containers listed on the Exhibit A attached hereto (the
“ Purchased Containers ”) and associated Related
Transferred Assets (collectively, the “ Purchased
Assets ”).
Conveyance of
Containers . Seller hereby conveys, assigns and transfers to
Borrower all of Seller’s right, title and interest in, to,
and under the Purchased Assets. Such sale shall be without recourse
to Seller except to the extent provided in Section 3.3 of the
Purchase Agreement.
Seller hereby
confirms that:
(1) The
sum of the Net Book Value of the Purchased Containers and as of
August 1, 2005 (the “ Transfer Date ”) is
equal to $73,750,101 and the Purchase Price for such Purchased
Assets is $73,750,101. Such Purchase Price will be payable on the
Transfer Date and shall consist of a cash payme
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