Examples of Airbus Letter Agreement in a sentence
The transactions contemplated in substantial conformity with the terms and conditions of the Airbus Letter Agreement, a copy of which is attached as Exhibit B to the Motion, are fair under the current circumstances to all parties and necessary to the success of the Debtors' reorganization.
The transactions contemplated by the Airbus Letter Agreement meet all of the above factors, as implementation of the agreements reached therein address the considerable uncertainty surrounding the Debtors' relationships with the Airbus Entities, including possible claims and damages relating to the Debtors' inability to accept delivery of Airbus aircraft under the existing delivery schedules, as provided for under the Purchase Agreements and related documents, all as contemplated therein.
The Debtors have engaged in good faith, extensive and arm's-length negotiations with the relevant Airbus Entities, and have demonstrated good, sufficient and sound business judgment in determining to enter into the Airbus Letter Agreement and the transactions with the relevant Airbus Entities contemplated therein, including, without limitation, the Airbus Agreements, pursuant to sections 105(a), 362, 363, 365, and 1110 of the Bankruptcy Code.
In addition, neither the Debtors nor the Airbus Entities engaged in any conduct that would cause or permit the Airbus Letter Agreement or Airbus Agreements to be avoided under section 363(n) of the Bankruptcy Code.
This Order and the transactions contemplated by the Airbus Letter Agreement, as evidenced by the Airbus Agreements, shall be binding on any subsequent chapter 11 or chapter 7 trustee who may be appointed or elected in these cases or any succeeding chapter 7 case.
The failure specifically to include any particular provisions of the Airbus Letter Agreement or the Airbus Agreements in this Order shall not diminish or impair the efficiency of such provisions, it being the intent of the Court that the transactions contemplated by the Airbus Letter Agreement, as evidenced by the Airbus Agreements, be approved in its entirety.
The contractor expressly waives their right to the assumption of approval in § 377 HGB (German Commercial Code), according to which the goods are considered approved if the notification of a defect is not made immediately upon its discovery – unless the defect becomes obvious.
Based upon the foregoing, the Debtors' submit that their decision to pursue the agreements and transactions with the Airbus Entities, as provided for in the Airbus Letter Agreement and embodied in the Airbus Agreements, for fair value is an exercise of sound business judgment, is in the best interest of Debtors' and their estate, and should be approved in all respects.
The resolution of the current disputes with the Airbus Entities as provided in the Airbus Letter Agreement is fair and reasonable and in the best interests of their estates and creditors, based on the Court's analysis of (i) the probability of the Debtors' success in potential litigation, (ii) the likely difficulty in collection, (iii) the complexity of the potential litigation with the attendant expense, inconvenience and delay, and (iv) the paramount interests of the estates and creditors of the Debtors.
Each officer or authorized signatory of the Debtors as may be so authorized by resolutions of the Board of Directors or shareholders of each of the Debtors, acting singly, is authorized to execute and deliver each of the Airbus Letter Agreement and Airbus Agreements, such execution and delivery being conclusive of their respective authority to act in the name of and on behalf of the Debtors.