Common use of Currency Conversion Clause in Contracts

Currency Conversion. If any amount is received or recovered by the Collateral Agent in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral Agent, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 14 contracts

Samples: Security Agreement (AerCap Holdings N.V.), Term Loan Security Agreement, Aircraft Lease Agreement

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Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent or the Facility Agent in respect of this Intercreditor Agreement or any part thereof (whether as a result of the enforcement of the security created under the Security Agreement or pursuant to this Intercreditor Agreement or any judgment or order of any court or in the liquidation or dissolution of the Borrower or by way of damages for any breach of any obligation to make any payment under or in respect of the Borrower’s obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Facility Agent or the Collateral AgentAgent shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Borrower to the extent of the amount of the Agreed Currency which the Collateral Agent or the Facility Agent was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent or Facility Agent is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorBorrower, such Grantor the Borrower shall pay to the Collateral Agent for the benefit of the Secured Parties such amount as it the Collateral Agent shall determine to be necessary to indemnify the Collateral Facility Agent and the Secured Parties Collateral Agent against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred Incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Borrower distinct from its obligation to discharge the amount which was originally payable by such Grantor the Borrower and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent or the Facility Agent and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Borrower or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 4 contracts

Samples: Intercreditor Agreement (Aircastle LTD), Intercreditor Agreement (Aircastle LTD), Intercreditor Agreement (Aircastle LTD)

Currency Conversion. If any amount is received or recovered by the Collateral Agent Security Trustee in a currency (the “Received Currency”) Currency other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall shall, to the fullest extent permitted by Applicable Law, only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties Security Trustee such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Security Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 4 contracts

Samples: Security Trust Agreement (Willis Lease Finance Corp), Security Trust Agreement (Willis Lease Finance Corp), Security Trust Agreement (Willis Lease Finance Corp)

Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Administrator, the Servicer or the Indenture Trustee in respect of this Master Indenture or any part thereof (whether as a result of the enforcement of the security created under this Master Indenture and any Series Supplement or pursuant to this Master Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer’s obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentIndenture Trustee shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Administrator, the Servicer or the Indenture Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Administrator, the Servicer or the Indenture Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for Administrator, the benefit of Servicer or the Secured Parties Indenture Trustee such amount as it the Administrator, Servicer or the Indenture Trustee shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties such Person against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Administrator, the Servicer or the Indenture Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 3 contracts

Samples: Master Indenture (Trinity Industries Inc), Master Indenture (Trinity Industries Inc), Master Indenture (Trinity Industries Inc)

Currency Conversion. If any amount is received or recovered by the Collateral Agent any Security Trustee in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral Agentsuch Security Trustee, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent such Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent such Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent such Security Trustee for the benefit of the Secured Parties such amount as it shall determine to be necessary to indemnify the Collateral Agent such Security Trustee and the Secured Parties against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent such Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 3 contracts

Samples: Aircraft Lease Agreement (International Lease Finance Corp), Aircraft Lease Agreement (International Lease Finance Corp), Aircraft Lease Agreement (International Lease Finance Corp)

Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Cash Manager or the Trustee in respect of this Indenture or any part thereof (whether as a result of the enforcement of the security created under the Security Trust Agreement or pursuant to this Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer’s obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentTrustee or the Cash Manager shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Cash Manager or the Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Cash Manager or Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for the benefit of the Secured Parties Cash Manager such amount as it the Cash Manager shall determine to be necessary to indemnify the Collateral Agent Trustee and the Secured Parties Cash Manager against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred Incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Cash Manager or the Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 3 contracts

Samples: Trust Indenture (Avolon Holdings LTD), Trust Indenture (AerCap Holdings N.V.), Trust Indenture (Genesis Lease LTD)

Currency Conversion. (jd) If any amount is received or recovered by the Collateral Agent Administrator, the Manager or the Indenture Trustee in respect of this Master Indenture or any part thereof (whether as a result of the enforcement of the security created under this Master Indenture and any Series Supplement or pursuant to this Master Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer's obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentIndenture Trustee shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Administrator, the Manager or the Indenture Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Administrator, the Manager or the Indenture Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for Administrator, the benefit of Manager or the Secured Parties Indenture Trustee such amount as it the Administrator, Manager or the Indenture Trustee shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties such Person against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Administrator, the Manager or the Indenture Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 2 contracts

Samples: Master Indenture (Trinity Industries Inc), Master Indenture (Trinity Industries Inc)

Currency Conversion. If any amount payable by the Issuer under this Agreement is received or recovered by the Collateral Agent Security Trustee in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable under this Agreement (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent Security Trustee for the benefit of the Secured Parties such amount as it shall determine to be necessary to indemnify the Collateral Agent Security Trustee and the Secured Parties against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 2 contracts

Samples: Lease Agreement (General Electric Capital Corp), Aircraft Mortgage and Security (General Electric Capital Corp)

Currency Conversion. If any amount is received or recovered by the Collateral Agent in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral Agent, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a Aircraft Mortgage and Security Agreement separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 2 contracts

Samples: Aircraft Mortgage and Security Agreement (International Lease Finance Corp), Aircraft Lease Agreement (International Lease Finance Corp)

Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Administrator, the Manager or the Indenture Trustee in respect of this Master Indenture or any part thereof (whether as a result of the enforcement of the security created under this Master Indenture and any Series Supplement or pursuant to this Master Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer’s obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentIndenture Trustee shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Administrator, the Manager or the Indenture Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Administrator, the Manager or the Indenture Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for Administrator, the benefit of Manager or the Secured Parties Indenture Trustee such amount as it the Administrator, Manager or the Indenture Trustee shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties such Person against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Administrator, the Manager or the Indenture Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 2 contracts

Samples: Master Indenture (Trinity Industries Inc), Lease Agreement (Trinity Industries Inc)

Currency Conversion. If any amount is received or recovered by the Collateral Agent Security Trustee in respect of this Agreement or any part thereof in a currency (the "Received Currency") other than the currency in which such amount was expressed to be payable (the "Agreed Currency"), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties Security Trustee such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Security Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 2 contracts

Samples: Security Trust Agreement (Morgan Stanley Aircraft Finance), Security Trust Agreement (Aerco LTD)

Currency Conversion. If any amount is received or recovered by the Collateral Agent in a currency (the "Received Currency") other than the currency in which such amount was expressed to be payable (the "Agreed Currency"), then the amount in the Received Currency actually received or recovered by the Collateral Agent, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 1 contract

Samples: Aircraft Mortgage and Security Agreement (Fly Leasing LTD)

Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Administrator, the Servicer or the Indenture Trustee in respect of this Master Indenture or any part thereof (whether as a result of the enforcement of the security created under this Master Indenture and any Series Supplement or pursuant to this Master Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer’s obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentIndenture Trustee shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Administrator, the Servicer or the Indenture Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent 123 Administrator, the Servicer or the Indenture Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for Administrator, the benefit of Servicer or the Secured Parties Indenture Trustee such amount as it the Administrator, Servicer or the Indenture Trustee shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties such Person against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Administrator, the Servicer or the Indenture Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 1 contract

Samples: Master Indenture (Trinity Industries Inc)

Currency Conversion. If any amount is received or recovered by the Collateral Agent Security Trustee in a currency (the "Received Currency") other than the currency in which such amount was expressed to be payable (the "Agreed Currency"), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties Security Trustee such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Security Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 1 contract

Samples: Security Trust Agreement (Lease Investment Flight Trust)

Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Administrator, the Servicer or the Indenture Trustee in respect of this Master Indenture or any part thereof (whether as a result of the enforcement of the security created under this Master Indenture and any Series Supplement or pursuant to this Master Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer’s obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentIndenture Trustee shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Administrator, the Servicer or the Indenture Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent 122 Administrator, the Servicer or the Indenture Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for Administrator, the benefit of Servicer or the Secured Parties Indenture Trustee such amount as it the Administrator, Servicer or the Indenture Trustee shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties such Person against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Administrator, the Servicer or the Indenture Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 1 contract

Samples: Master Indenture (Trinity Industries Inc)

Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Cash Manager or the Trustee in respect of this Indenture or any part thereof (whether as a result of the enforcement of the security created under the Security Trust Agreement or pursuant to this Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer’s obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentTrustee or the Cash Manager shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Cash Manager or the Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Cash Manager or Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for the benefit of the Secured Parties Cash Manager such amount as it the Cash Manager shall determine to be necessary to indemnify the Collateral Agent Trustee and the Secured Parties Cash Manager against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred Incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Cash Manager or the Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 1 contract

Samples: Trust Indenture (Aircastle LTD)

Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Cash Manager or the Trustee in respect of this Indenture or any part thereof (whether as a result of the enforcement of the security created under the Security Trust Agreement or pursuant to this Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer’s obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentTrustee or the Cash Manager shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Cash Manager or the Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Cash Manager or Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for the benefit of the Secured Parties Cash Manager such amount as it the Cash Manager shall determine to be necessary to indemnify the Collateral Agent Trustee and the Secured Parties Cash Manager against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred Incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Cash Manager or the Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.. 128

Appears in 1 contract

Samples: Trust Indenture (Babcock & Brown Air LTD)

Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Cash Manager or the Trustee in respect of this Indenture or any part thereof (whether as a result of the enforcement of the security created under the Security Trust Agreement or pursuant to this Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer's obligations hereunder or any part thereof or otherwise) in a currency (the "Received Currency") other than the currency in which such amount was expressed to be payable (the "Agreed Currency"), then the amount in the Received Currency actually received or recovered by the Collateral AgentTrustee shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Cash Manager or the Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Cash Manager or Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which 129 122 was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for the benefit of the Secured Parties Cash Manager such amount as it the Cash Manager shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Cash Manager or the Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 1 contract

Samples: Indenture (Aerco LTD)

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Currency Conversion. If any amount is received or recovered by the Collateral Agent Security Trustee in a currency (the ‘‘Received Currency’’) other than the currency in which such amount was expressed to be payable (the ‘‘Agreed Currency’’), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties Security Trustee such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Security Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 1 contract

Samples: Security Trust Agreement (Babcock & Brown Air LTD)

Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Administrator, the Servicer or the Indenture Trustee in respect of this Master Indenture or any part thereof 135 (whether as a result of the enforcement of the security created under this Master Indenture and any Series Supplement or pursuant to this Master Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer’s obligations hereunder or any part thereof or otherwise) in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentIndenture Trustee shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Administrator, the Servicer or the Indenture Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Administrator, the Servicer or the Indenture Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for Administrator, the benefit of Servicer or the Secured Parties Indenture Trustee such amount as it the Administrator, Servicer or the Indenture Trustee shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties such Person against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Administrator, the Servicer or the Indenture Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 1 contract

Samples: Master Indenture (Trinity Industries Inc)

Currency Conversion. If any amount is received or recovered by the Collateral Agent Security Trustee in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent Security Trustee for the benefit of the Secured Parties such amount as it shall determine to be necessary to indemnify the Collateral Agent Security Trustee and the Secured Parties against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 1 contract

Samples: Aircraft Lease Agreement (International Lease Finance Corp)

Currency Conversion. If any amount is received or recovered by the Collateral Agent Security Trustee in a currency (the “Received Currency”) Currency other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall shall, to the fullest extent permitted by Applicable Law, only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties Security Trustee such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Security Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.. Section 10.08

Appears in 1 contract

Samples: Mortgage and Security Agreement (Willis Lease Finance Corp)

Currency Conversion. (a) If any amount is received or recovered by the Collateral Administrative Agent or the Trustee in respect of this Indenture or any part thereof (whether as a result of the enforcement of the security created under the Security Trust Agreement or pursuant to this Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer's obligations hereunder or any part thereof or otherwise) in a currency (the "Received Currency") other than the currency in which such amount was expressed to be payable (the "Agreed Currency"), then the amount in the Received Currency actually received or recovered by the Collateral AgentTrustee shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Administrative Agent or the Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Administrative Agent or Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Administrative Agent for the benefit of the Secured Parties such amount as it the Administrative Agent shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the 121 Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Administrative Agent or the Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 1 contract

Samples: Indenture (Morgan Stanley Aircraft Finance)

Currency Conversion. If any amount is received or recovered by the Collateral Agent Security Trustee in a currency (the "Received Currency") other than the currency in which such amount was expressed to be payable (the "Agreed Currency"), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the 34 39 amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties Security Trustee such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Security Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 1 contract

Samples: Security Trust Agreement (Aircraft Finance Trust)

Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Cash Manager or the Trustee in respect of this Indenture or any part thereof (whether as a result of the enforcement of the security created under the Security Trust Agreement or pursuant to this Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer's obligations hereunder or any part thereof or otherwise) in a currency (the "Received Currency") other than the currency in which such amount was expressed to be payable (the "Agreed Currency"), then the amount in the Received Currency actually received or recovered by the Collateral AgentTrustee or the Cash Manager shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Cash Manager or the Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Cash Manager or Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for the benefit of the Secured Parties Cash Manager such amount as it the Cash Manager shall determine to be necessary to indemnify the Collateral Agent Trustee and the Secured Parties Cash Manager against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred Incurred in connection therewith) and so thatthat such indemnity, to the fullest extent 155 permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Cash Manager or the Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 1 contract

Samples: Trust Indenture (Aircastle LTD)

Currency Conversion. If any amount is received or recovered by the Collateral Agent Security Trustee in a currency (the “Received Currency”) other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties Security Trustee such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Security Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 1 contract

Samples: Security Trust Agreement (Genesis Lease LTD)

Currency Conversion. If any amount is received or recovered by the Collateral Agent Security Trustee in a currency (the “Received Currency”) Currency other than the currency in which such amount was expressed to be payable (the “Agreed Currency”), then the amount in the Received Currency actually received or recovered by the Collateral AgentSecurity Trustee, to the extent permitted by law, shall shall, to the fullest extent permitted by Applicable Law, only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent Security Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Security Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties Security Trustee such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties Security Trustee against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Security Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 1 contract

Samples: Security Trust Agreement (Willis Lease Finance Corp)

Currency Conversion. (a) If any amount is received or recovered by the Collateral Agent Cash Manager or the Trustee in respect of this Indenture or any part thereof (whether as a result of the enforcement of the security created under the Security Trust Agreement or pursuant to this Indenture or any judgment or order of any court or in the liquidation or dissolution of the Issuer or by way of damages for any breach of any obligation to make any payment under or in respect of the Issuer's obligations hereunder or any part thereof or otherwise) in a currency (the "Received Currency") other than the currency in which such amount was expressed to be payable (the "Agreed Currency"), then the amount in the Received Currency actually received or recovered by the Collateral AgentTrustee or the Cash Manager shall, to the fullest extent permitted by lawApplicable Law, shall only constitute a discharge of to the relevant Grantor Issuer to the extent of the amount of the Agreed Currency which the Collateral Agent Cash Manager or the Trustee was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent Cash Manager or Trustee is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant GrantorIssuer, such Grantor the Issuer shall pay to the Collateral Agent for the benefit of the Secured Parties Cash Manager such amount as it the Cash Manager shall determine to be necessary to indemnify the Collateral Agent Trustee and the Secured Parties Cash Manager against any loss Loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred Incurred in connection therewith) and so thatthat such indemnity, to the fullest extent permitted by lawApplicable Law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor the Issuer distinct from its obligation to discharge the amount which was originally payable by such Grantor the Issuer and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent Cash Manager or the Trustee and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of 152 the amount originally payable by any Grantor the Issuer or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 1 contract

Samples: Trust Indenture (Aircastle LTD)

Currency Conversion. If any amount is received or recovered by the Collateral Agent in a currency (the “Received Currency) other than the currency in which such amount was expressed to be payable (the “Agreed Currency), then the amount in the Received Currency actually received or recovered by the Collateral Agent, to the extent permitted by law, shall only constitute a discharge of the relevant Grantor to the extent of the amount of the Agreed Currency which the Collateral Agent was or would have been able in accordance with its or his normal procedures to purchase on the date of actual receipt or recovery (or, if that is not practicable, on the next date on which it is so practicable), and, if the amount of the Agreed Currency which the Collateral Agent is or would have been so able to purchase is less than the amount of the Agreed Currency which was originally payable by the relevant Grantor, such Grantor shall pay to the Collateral Agent for the benefit of the Secured Parties such amount as it shall determine to be necessary to indemnify the Collateral Agent and the Secured Parties against any loss sustained by it as a result (including the cost of making any such purchase and any premiums, commissions or other charges paid or incurred in connection therewith) and so that, to the extent permitted by law, (i) such indemnity shall constitute a separate and independent obligation of each Grantor distinct from its obligation to discharge the amount which was originally payable by such Grantor and (ii) shall give rise to a separate and independent cause of action and apply irrespective of any indulgence granted by the Collateral Agent and continue in full force and effect notwithstanding any judgment, order, claim or proof for a liquidated amount in respect of the amount originally payable by any Grantor or any judgment or order and no proof or evidence of any actual loss shall be required.

Appears in 1 contract

Samples: Aircraft Mortgage and Security Agreement (International Lease Finance Corp)

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