5307 Aircraft Clause Samples

5307 Aircraft. This Agreement, to the extent it relates to the 5307 Aircraft (as such term is defined below), is subject to the terms and provisions of: (i) that certain Aircraft Lease (S/N 5307) dated as of November 15, 2010 (as amended, the “5307 Aircraft Lease”) between APC Aviation, Inc. (“APC”) and ▇▇▇▇▇ Fargo Equipment Finance, Inc. (“WFEFI”) regarding that certain Gulfstream Aerospace GV-SP (G550) (shown on the International Registry as Gulfstream GV-SP (G550)) aircraft, bearing U.S. Registration ▇▇▇▇ N288A (formerly N507GA) and manufacturer’s serial number 5307 (the “5307 Aircraft”); (ii) that certain Aircraft Sublease dated as of March 3, 2011 (as amended, collectively, the “5307 Aircraft Sublease”) between APC and Operator regarding the 5307 Aircraft; (iii) that certain Collateral Assignment of Agreement dated March 3, 2011 between APC and WFEFI and (iv) any related documents, agreements or instruments of any kind whatsoever relating to any of the 5307 Aircraft Lease and the 5307 Aircraft Sublease (collectively, the “5307 Documents”). Without limiting the generality of the foregoing, the rights of APC, Operator, Passenger and any other party, person or entity of any kind whatsoever claiming through any of APC, Operator or Passenger with respect to the 5307 Aircraft (and any and all proceeds thereof, including, any insurance proceeds) shall be subject and subordinate in all respects to any and all of the rights, privileges, powers, entitlements, benefits, remedies, title or interests of WFEFI in or to the 5307 Aircraft (and any and all proceeds thereof, including, any insurance proceeds), including, all of WFEFI’s rights and remedies under or in connection with any of the 5307 Documents (including, without limitation, WFEFI’s right to repossess the 5307 Aircraft and to terminate this Agreement with respect to the 5307 Aircraft. In addition, and notwithstanding anything to the contrary set forth in this Agreement or otherwise, upon the occurrence of any Event of Default (as such term is defined in the 5307 Aircraft Lease and the 5307 Aircraft Sublease), this Agreement shall automatically and immediately terminate with respect to the 5307 Aircraft.