Common use of Special Purpose Clause in Contracts

Special Purpose. Each of the Owner and the Owner Participant will not: (i) have any employees earning compensation; (ii) except for Loan Certificates and as expressly contemplated by the Basic Documents, incur or contract to incur any Indebtedness; (iii) engage in any activity other than the execution, delivery and performance of the Basic Documents to which it is a party, any agreements with the Arranger relating to the offering of the Notes and in each case activities incidental thereto, as well as ordinary housekeeping activities; (iv) make or agree to make any capital expenditure except as contemplated under any Basic Document, including in respect of the exercise of any cure rights; (v) create or own any subsidiary (except the Owner, in the case of the Owner Participant); (vi) except as provided in the Mortgage or otherwise in any Basic Document, make any investments; (vii) declare or make any dividend payment or distribution to any owner of its Ownership Interests (as defined in the Beneficial Interest Pledge Agreement) or other equity interests, other than in respect of (A) Excluded Payments or (B) any other payments which the Owner Participant (as designee of the Issuer) is entitled to receive under the Security Agreement; or (viii) incur any material obligation to any third party (excluding any payment or other obligation incurred pursuant to or in the performance of the obligations under the Basic Documents and any agreements with the Arranger relating to the offering of the Notes).

Special Purpose. Each of the The Owner and the Owner Participant will not: (i) have any employees earning compensation; (ii) except for Loan Certificates Notes and as expressly contemplated by the Basic Operative Documents or the Other Operative Documents, incur or contract to incur any Indebtedness; (iii) engage in any activity other than the execution, delivery and performance of the Basic Operative Documents and the Other Operative Documents to which it is a party, any agreements with the Arranger relating to the offering of the Notes party and in each case activities incidental thereto, as well as ordinary housekeeping activities; (iv) except for the acquisition of any Aircraft or other “Aircraft” (as defined in any Other Operative Document) by the Owner, make or agree to make any capital expenditure except as contemplated under any Basic Document, including in respect of the exercise of any cure rightsexpenditure; (v) create or own any subsidiary (except the Owner, in the case of the Owner Participant)subsidiary; (vi) except as provided in the Mortgage or otherwise in any Basic Other Operative Document, make any investments; (vii) declare or make any dividend payment or distribution to any owner of its Ownership Interests (as defined in the Beneficial Interest Pledge Agreement) or other equity interests, other than in respect of (A) Excluded Payments (or “Excluded Payments” as defined in any Other Operative Document) or (B) any other payments which the Owner Participant (as designee of the Issuer) is entitled to receive under the Security AgreementMortgage or any Other Operative Document; or (viii) incur any material obligation to any third party (excluding any payment or other obligation incurred pursuant to or in the performance of the obligations under the Basic Operative Documents and any agreements with the Arranger relating to the offering of the NotesOther Operative Documents).

Special Purpose. Each of the The Owner and the Owner Participant will not: (i) have any employees earning compensation; (ii) except for Loan Certificates Notes and as expressly contemplated by the Basic Operative Documents or Other Operative Documents, incur or contract to incur any Indebtedness; (iii) engage in any activity other than the execution, delivery and performance of the Basic Operative Documents and the Other Operative Documents to which it is a party, any agreements with the Arranger relating to the offering of the Notes party and in each case activities incidental thereto, as well as ordinary housekeeping activities; (iv) except for the acquisition of the Aircraft or other “Aircraft” (as defined in any Other Operative Documents) by the Owner, make or agree to make any capital expenditure except as contemplated under any Basic Document, including in respect of the exercise of any cure rightsexpenditure; (v) create or own any subsidiary (except the Owner, in the case of the Owner Participant)subsidiary; (vi) except as provided in the Mortgage or otherwise in any Basic Other Operative Document, make any investments; (vii) declare or make any dividend payment or distribution to any owner of its Ownership Interests (as defined in the Beneficial Interest Pledge Agreement) or other equity interests, other than in respect of (A) Excluded Payments (or “Excluded Payments” as defined in any Other Operative Documents or (B) any other payments which the Owner Participant (as designee of the Issuer) is entitled to receive under the Security AgreementMortgage or any Other Operative Document; or (viii) incur any material obligation to any third party (excluding any payment or other obligation incurred pursuant to or in the performance of the obligations under the Basic Operative Documents and any agreements with the Arranger relating to the offering of the NotesOther Operative Documents).