EX-5.1 2 a2033411zex-5_1.txt EXHIBIT 5.1 EXHIBIT 5.1 December 11, 2000 The Board of Directors of the Greenbrier Companies Re: REGISTRATION STATEMENT ON FORM S-8 Gentlemen: We have acted as counsel to the Greenbrier Companies, Inc., (the "Company") in connection with the preparation and filing with the Securities and Exchange Commission under the Securities Act of 1933, as amended, of a Registration Statement on Form S-8 (the "Registration Statement") covering 1,000,000 shares of common stock, $0.001 par value, of the Company (the "Original Issuance Shares") to be issued under the Company's Stock Incentive Plan -- 2000 and up to 900,000 shares of Common Stock, $0.001 par value, to be offered by certain selling stockholders pursuant to the reoffer prospectus included therein (the "Reoffer Prospectus"). In our capacity as such counsel, we have reviewed the corporate actions of the Company in connection with this matter and have examined and relied upon the originals, or copies certified or otherwise identified to our satisfaction, of such corporate records, documents or other evidence as we have deemed necessary or appropriate for the purposes of the opinion hereinafter expressed. Based upon the foregoing, and having regard for such legal considerations as we deem relevant, we are of the opinion that the Original Issuance Shares have been duly authorized by all necessary corporate action of the Company, and when issued and sold by the Company against payment therefore pursuant to the terms of the Plan and Options, the Original Issuance Shares will be validly issued, fully paid and non-assessable. We are members of the bar of the State of Oregon and are expressing our opinion only as to matters of Oregon law. We hereby consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement and to the reference to us under the caption "Legal Matters" in the Reoffer Prospectus and in Part II of the Registration Statement. Very truly yours, Tonkon Torp LLP