Common use of Concentration Limits Clause in Contracts

Concentration Limits. Without the prior written consent of the Facility Agent, the Borrower shall not permit any ACS Bermuda Subsidiary to lease or re-lease any Aircraft if entering into such proposed Lease would cause the ACS Group Portfolio to exceed any of the Concentration Limits set forth in Exhibit C hereto (as such limits may be adjusted by from time to time with the consent of the Facility Agent, the “Concentration Limits”); provided that the Borrower or any ACS Bermuda Subsidiary shall be entitled to renew or extend any Lease to the existing Lessee thereunder irrespective of the effect of such renewal or extension on the Concentration Limits. The Borrower shall not, and shall not permit any ACS Bermuda Subsidiary to, (i) lease (including any renewal or extension of any existing Lease) any Aircraft to any Lessee habitually based or domiciled in any of the jurisdictions set forth as “Prohibited” in the last section of the Concentration Limits as set forth on Exhibit C hereto and as amended from time to time upon the receipt of the prior written consent of the Facility Agent (each such jurisdiction, a “Prohibited Country”), (ii) enter into any Lease (including any renewal or extension of any existing Lease) that expressly permits the Lessee to sublease an Aircraft to a sublessee habitually based or domiciled in a Prohibited Country, or (iii) consent to a sublease of an Aircraft to a sublessee habitually based or domiciled in a Prohibited Country.

Concentration Limits. Without the prior written consent of the Facility Agent, the Borrower shall not permit any ACS Bermuda Ireland Subsidiary to lease or re-lease any Aircraft if entering into such proposed Lease would cause the ACS Group Portfolio to exceed any of the Concentration Limits set forth in Exhibit C hereto (as such limits may be adjusted by from time to time with the consent of the Facility Agent, the “Concentration Limits”); provided that the Borrower or any ACS Bermuda Ireland Subsidiary shall be entitled to renew or extend any Lease to the existing Lessee thereunder irrespective of the effect of such renewal or extension on the Concentration Limits. The Borrower shall not, and shall not permit any ACS Bermuda Ireland Subsidiary to, (i) lease (including any renewal or extension of any existing Lease) any Aircraft to any Lessee habitually based or domiciled in any of the jurisdictions set forth as “Prohibited” in the last section of the Concentration Limits as set forth on Exhibit C hereto and as amended from time to time upon the receipt of the prior written consent of the Facility Agent (each such jurisdiction, a “Prohibited Country”), (ii) enter into any Lease (including any renewal or extension of any existing Lease) that expressly permits the Lessee to sublease an Aircraft to a sublessee habitually based or domiciled in a Prohibited Country, or (iii) consent to a sublease of an Aircraft to a sublessee habitually based or domiciled in a Prohibited Country.

Concentration Limits. Without receipt of a Rating Agency Confirmation from Moody's and the prior written consent of the Facility AgentPolicy Provider, the Borrower Issuer shall not permit any ACS Bermuda Subsidiary to lease or re-lease any Aircraft if entering into such proposed Lease would cause the ACS Group Portfolio to exceed any of the Concentration Limits set forth in Exhibit C hereto (as such limits may be adjusted by the Issuer from time to time with time, subject to receipt of a Rating Agency Confirmation and the prior written consent of the Facility AgentPolicy Provider, the “"Concentration Limits”"); provided that the Borrower Issuer or any ACS Bermuda Subsidiary shall be entitled to renew or extend any Lease to the existing Lessee thereunder irrespective of the effect of such renewal or extension on the Concentration LimitsLimits with the prior written consent of the Policy Provider. The Borrower Issuer shall not, and shall not permit any ACS Bermuda Subsidiary to, (i) lease (including any renewal or extension of any existing Lease) any Aircraft to any Lessee habitually based or domiciled in any of the jurisdictions set forth as “"Prohibited” " in the last section of the Concentration Limits as set forth on Exhibit C hereto and as amended from time to time upon the receipt of a Rating Agency Confirmation and the prior written consent of the Facility Agent Policy Provider (each such jurisdiction, a “"Prohibited Country”"), (ii) enter into any Lease (including any renewal or extension of any existing Lease) that expressly permits the Lessee to sublease an Aircraft to a sublessee habitually based or domiciled in a Prohibited Country, or (iii) consent to a sublease of an Aircraft to a sublessee habitually based or domiciled in a Prohibited Country.

Concentration Limits. Without receipt of a Rating Agency Confirmation from Moody's and the prior written consent of the Facility AgentPolicy Provider, the Borrower Issuer shall not permit any ACS Bermuda Ireland Subsidiary to lease or re-lease any Aircraft if entering into such proposed Lease would cause the ACS Group Portfolio to exceed any of the Concentration Limits set forth in Exhibit C hereto (as such limits may be adjusted by the Issuer from time to time with time, subject to receipt of a Rating Agency Confirmation and the prior written consent of the Facility AgentPolicy Provider, the “"Concentration Limits”"); provided that the Borrower Issuer or any ACS Bermuda Ireland Subsidiary shall be entitled to renew or extend any Lease to the existing Lessee thereunder irrespective of the effect of such renewal or extension on the Concentration LimitsLimits with the prior written consent of the Policy Provider. The Borrower Issuer shall not, and shall not permit any ACS Bermuda Ireland Subsidiary to, (i) lease (including any renewal or extension of any existing Lease) any Aircraft to any Lessee habitually based or domiciled in any of the jurisdictions set forth as “"Prohibited” " in the last section of the Concentration Limits as set forth on Exhibit C hereto and as amended from time to time upon the receipt of a Rating Agency Confirmation and the prior written consent of the Facility Agent Policy Provider (each such jurisdiction, a “"Prohibited Country”"), (ii) enter into any Lease (including any renewal or extension of any existing Lease) that expressly permits the Lessee to sublease an Aircraft to a sublessee habitually based or domiciled in a Prohibited Country, or (iii) consent to a sublease of an Aircraft to a sublessee habitually based or domiciled in a Prohibited Country.

Concentration Limits. Without prior written notification to each of the Rating Agencies and the prior written consent of the Facility AgentHolders of a majority of the Outstanding Principal Balance of the Senior Class (provided that the consent of the Holders of the Senior Class will be deemed to have been given if the Holders of the Senior Class do not respond within fourteen (14) days of receipt by such Holders from the Issuer or the Trustee of a request for such consent), the Borrower Issuer shall not permit any ACS Bermuda Issuer Subsidiary to lease or re-lease any Aircraft if entering into such proposed Lease would cause the ACS Group Portfolio to exceed any of the Concentration Limits set forth in Exhibit C hereto (as such limits may be adjusted by from time to time with the consent of the Facility Agent, the “Concentration Limits”); . Without prior written notification to each of the Rating Agencies and the prior written consent of the Holders of a majority of the Outstanding Principal Balance of the Senior Class (provided that the Borrower or any ACS Bermuda Subsidiary shall be entitled to renew or extend any Lease to the existing Lessee thereunder irrespective consent of the effect Holders of the Senior Class will be deemed to have been given if the Holders of the Senior Class do not respond within fourteen (14) days of receipt by such renewal Holders from the Issuer or extension on the Concentration Limits. The Borrower shall notTrustee of a request for such consent), and the Issuer shall not permit any ACS Bermuda Subsidiary to, Issuer Group Member (i) to lease (including any renewal or extension of any existing Lease) re-lease any Aircraft to any Lessee habitually based or domiciled in any of the jurisdictions set forth as “Prohibited” in the last section of the Concentration Limits as set forth on Exhibit C hereto and as amended from time to time upon the receipt of the prior written consent of the Facility Agent (each such jurisdiction, a “Prohibited Country”), (ii) to enter into any Lease (including any renewal or extension of any existing Lease) that expressly permits the Lessee to sublease an Aircraft to a sublessee habitually based or domiciled in a Prohibited Country, Country or (iii) to consent to a sublease of an Aircraft to a sublessee of an Aircraft habitually based or domiciled in a Prohibited Country. The calculations with respect to the Concentration Limits as set forth in Exhibit C hereto assume that all of the Initial Aircraft have been delivered.

Concentration Limits. Without receipt of a Rating Agency Confirmation from Moody’s and the prior written consent of the Facility AgentPolicy Provider, the Borrower Issuer shall not permit any ACS Bermuda Subsidiary to lease or re-lease any Aircraft if entering into such proposed Lease would cause the ACS Group Portfolio to exceed any of the Concentration Limits set forth in Exhibit C hereto (as such limits may be adjusted by the Issuer from time to time with time, subject to receipt of a Rating Agency Confirmation from Moody’s, the delivery of written notice of such adjustment to Standard & Poor’s, and the receipt of the prior written consent of the Facility AgentPolicy Provider, the “Concentration Limits”); provided that the Borrower Issuer or any ACS Bermuda Subsidiary shall be entitled to renew or extend any Lease to the existing Lessee thereunder irrespective of the effect of such renewal or extension on the Concentration LimitsLimits with the prior written consent of the Policy Provider. The Borrower Issuer shall not, and shall not permit any ACS Bermuda Subsidiary to, (i) lease (including any renewal or extension of any existing Lease) any Aircraft to any Lessee habitually based or domiciled in any of the jurisdictions set forth as “Prohibited” in the last section of the Concentration Limits as set forth on Exhibit C hereto and as amended from time to time upon the receipt of a Rating Agency Confirmation from Moody’s, the delivery of written notice of such amendment to Standard & Poor’s, and the receipt of the prior written consent of the Facility Agent Policy Provider (each such jurisdiction, a “Prohibited Country”), (ii) enter into any Lease (including any renewal or extension of any existing Lease) that expressly permits the Lessee to sublease an Aircraft to a sublessee habitually based or domiciled in a Prohibited Country, or (iii) consent to a sublease of an Aircraft to a sublessee habitually based or domiciled in a Prohibited Country.

Concentration Limits. Without Unless the prior written consent of the Facility AgentControlling Trustees obtain Rating Agency Confirmation, the Borrower Issuer shall not permit any ACS Bermuda Issuer Subsidiary to lease or re-lease any Aircraft if entering into such proposed Lease would cause the ACS Portfolio (excluding any Aircraft then subject to an Aircraft Agreement and expected to be disposed of within one year pursuant to Section 5.02(g)(iii) and (v) but as to which the Issuer or any Issuer Subsidiary retains an interest including a right to lease rentals or other payments, finance lease payments, instalment purchase agreements or any other payments with respect to such Aircraft, but including any Aircraft with respect to which MSAF Group Portfolio has entered into a binding agreement to acquire and which the Controlling Trustees reasonably expect to acquire within 180 days from the date of such agreement) to exceed any of the Concentration Limits set forth in Exhibit C E hereto (as such limits may be adjusted by the Issuer from time to time with the consent of the Facility Agenttime, subject to Rating Agency Confirmation, the “"Concentration Limits”"); provided that the Borrower or Issuer and any ACS Bermuda Issuer Subsidiary shall be entitled to renew or extend any Lease to the existing Lessee thereunder irrespective of the effect of such renewal or extension on the Concentration Limits. The Borrower shall not, and Issuer shall not permit any ACS Bermuda Issuer Subsidiary to, (i) to lease (including any renewal or extension of any existing Lease) re-lease any Aircraft operated or to any be operated by a Lessee habitually based or domiciled in any a jurisdiction set forth in clause (a) of the jurisdictions set forth as “Prohibited” in the last section of the Concentration Limits PRI Guidelines as set forth on Exhibit C E hereto and as amended from time to time upon the receipt approval of the prior written consent of Rating Agencies (the Facility Agent (each such jurisdiction, a “"PRI Guidelines") as "Prohibited Country”), (ii) enter into any Lease (including any renewal or extension of any existing Lease) that expressly permits the Lessee to sublease an Aircraft to a sublessee habitually based or domiciled in a Prohibited Country, or (iii) consent to a sublease of an Aircraft to a sublessee habitually based or domiciled in a Prohibited CountryCountries".

Concentration Limits. Without prior written notification to each of the Rating Agencies, receipt of a Rating Agency Confirmation from Moody’s alone and the prior written consent of the Facility AgentPolicy Provider, the Borrower Issuer shall not permit any ACS Bermuda Issuer Subsidiary to lease or re-lease any Aircraft if entering into such proposed Lease would cause the ACS Group Portfolio to exceed any of the Concentration Limits set forth in Exhibit C B hereto (excluding from such limits renewals or extensions of a Lease to an existing Lessee under a Lease entered into in compliance with the Concentration Limits and as such limits may be adjusted by the Issuer from time to time with time, subject to a Rating Agency Confirmation from Moody’s alone and the prior written consent of the Facility AgentPolicy Provider, the “Concentration Limits”); provided that the Borrower Issuer or any ACS Bermuda Issuer Subsidiary shall be entitled to renew or extend any Lease to the existing Lessee thereunder irrespective of the effect of such renewal or extension on the Concentration LimitsLimits (and if the Concentration Limits absent such exception would be exceeded as a result of any such renewal or extension, the Issuer shall give written notification thereof to the Rating Agencies and the Policy Provider); and provided that, unless otherwise elected by the Manager, the Concentration Limits shall be determined without giving effect to any Aircraft contributed to the Issuer Group. The Borrower shall not, and Issuer shall not permit any ACS Bermuda Subsidiary to, Issuer Group Member to (i) lease (including any renewal or extension of any existing Lease) any Aircraft to any Lessee habitually based or domiciled in any of the jurisdictions set forth as “Prohibited” in the last section of the Concentration Limits as set forth on Exhibit C B hereto and as amended from time to time upon the receipt of a Rating Agency Confirmation and the prior written consent of the Facility Agent Policy Provider (each such jurisdiction, a “Prohibited Country”), (ii) enter into any Lease (including any renewal or extension of any existing Lease) that expressly permits the Lessee to sublease an Aircraft to a sublessee habitually based or domiciled in a Prohibited Country, or (iii) consent to a sublease of an Aircraft to a sublessee habitually based or domiciled in a Prohibited Country.

Concentration Limits. Without the prior written consent of the Facility Agenta Controlling Trustees’ Resolution approving such, the Borrower Issuer shall not permit any ACS Bermuda Issuer Subsidiary to lease or re-lease any Aircraft if entering into such proposed Lease would cause the ACS Group Portfolio to exceed any of the Concentration Limits set forth in Exhibit C E hereto (as such limits may be adjusted by the Issuer from time to time with the consent of the Facility Agenttime, by Controlling Trustees’ Resolution, the “Concentration Limits”); provided that the Borrower Issuer, any Issuer Subsidiary or any ACS Bermuda Subsidiary Leveraged Lease Lessee shall be entitled to renew or extend any Lease to the existing Lessee thereunder irrespective of the effect of such renewal or extension on the Concentration Limits. The Borrower shall not, and Issuer shall not permit any ACS Bermuda Issuer Subsidiary to, (i) or Leveraged Lease Lessee to lease (including any renewal or extension of any existing Lease) re-lease any Aircraft to any Lessee located in, or as a result of which such Aircraft would be or would be permitted to be habitually based or domiciled in any of the jurisdictions operated in, a jurisdiction set forth as “ProhibitedProhibited Countries” in the last section clause (a) of the Concentration Limits Repossession Guidelines as set forth on Exhibit C E hereto and (as may be amended from time to time upon (the receipt of the prior written consent of the Facility Agent (each such jurisdiction, a “Prohibited CountryRepossession Guidelines”) by Controlling Trustees’ Resolution), (ii) enter into any Lease (including any renewal or extension . Written notice of any existing LeaseControlling Trustees’ Resolution adopted pursuant to this Section 5.03(a) that expressly permits shall be promptly given to the Lessee to sublease an Aircraft to a sublessee habitually based or domiciled in a Prohibited Country, or (iii) consent to a sublease of an Aircraft to a sublessee habitually based or domiciled in a Prohibited CountryRating Agencies and the Trustee.

Concentration Limits. Without receipt of a Rating Agency Confirmation from Moody’s and the prior written consent of the Facility AgentPolicy Provider, the Borrower Issuer shall not permit any ACS Bermuda Ireland Subsidiary to lease or re-lease any Aircraft if entering into such proposed Lease would cause the ACS Group Portfolio to exceed any of the Concentration Limits set forth in Exhibit C hereto (as such limits may be adjusted by the Issuer from time to time with time, subject to receipt of a Rating Agency Confirmation from Moody’s, the delivery of written notice of such adjustment to Standard and Poor’s, and the receipt of the prior written consent of the Facility AgentPolicy Provider, the “Concentration Limits”); provided that the Borrower Issuer or any ACS Bermuda Ireland Subsidiary shall be entitled to renew or extend any Lease to the existing Lessee thereunder irrespective of the effect of such renewal or extension on the Concentration LimitsLimits with the prior written consent of the Policy Provider. The Borrower Issuer shall not, and shall not permit any ACS Bermuda Ireland Subsidiary to, (i) lease (including any renewal or extension of any existing Lease) any Aircraft to any Lessee habitually based or domiciled in any of the jurisdictions set forth as “Prohibited” in the last section of the Concentration Limits as set forth on Exhibit C hereto and as amended from time to time upon the receipt of a Rating Agency Confirmation from Moody’s, the delivery of written notice of such amendment to Standard & Poor’s, and the receipt of the prior written consent of the Facility Agent Policy Provider (each such jurisdiction, a “Prohibited Country”), (ii) enter into any Lease (including any renewal or extension of any existing Lease) that expressly permits the Lessee to sublease an Aircraft to a sublessee habitually based or domiciled in a Prohibited Country, or (iii) consent to a sublease of an Aircraft to a sublessee habitually based or domiciled in a Prohibited Country.