Aircraft Asset definition
Examples of Aircraft Asset in a sentence
Nothing contained in this Section 9.06 shall be deemed to impose on the Servicer any obligation to advance any of its own funds for any Aircraft Asset Expenses.
The foregoing provisions shall apply, mutatis mutandis, to any arrangements in which Persons other than Lessees have possession of, or insurance responsibility for, an Aircraft Asset (including in the event that an Aircraft Asset has been sold pursuant to a mortgage, deferred payment agreement or any similar arrangement).
Liability insurance shall be maintained for each non-passenger Aircraft Asset and occurrence in an amount not less than 75% of the amounts set forth on Schedule 2.
The Servicer shall take commercially reasonable action to deliver any Aircraft Asset pursuant to the terms of the documentation of the Lease or Leases of such Aircraft Asset, including upon an extension of such Leases.
The approved Lease Operating Budget and Aircraft Asset Expenses Budget for any Year, as each may be amended or modified from time to time, shall hereinafter be referred to as the “Approved Budget”.
The Administrative Agent shall have received from the Borrower a duly executed Aircraft Asset Security Agreement Supplement in respect of any Aircraft Asset and Assignment of Lease in respect of any Aircraft Asset Lease being acquired with the proceeds of such Revolving Loan.
Each of AerCo and the Subsidiaries agrees that as between the Servicer in its capacity as such, on the one hand, and any Person within AerCo Group, on the other hand, no representation is made as to the financial condition and affairs of any Lessee of, or purchaser of, any Aircraft Asset or any vendor or supplier utilized by the Servicer in connection with its performance of the Services.
The Administrative Agent shall have received insurance certificates satisfying the requirements of Section 2.07 of the Aircraft Asset Security Agreement in respect of each Aircraft Asset subject to the Aircraft Asset Security Agreement Supplement delivered on such date.
During such term, this Agreement shall not be terminable by any party with respect to any Aircraft Asset except as expressly provided in this Article 7.
Schedule 4.01 contains a true and complete list of all Aircraft Assets, the Initial Appraised Value of each Aircraft and the Person within AerCo Group that owns directly or indirectly such Aircraft Asset (or, in the case of the Offering Memorandum Aircraft, the AerFi company whose stock is contemplated by the Offering Memorandum to be acquired by AerCo on or following the Closing Date and which has contracted to acquire such Offering Memorandum Aircraft), in each case as of the date hereof.