Aircraft Loan definition
Examples of Aircraft Loan in a sentence
Lessee knowingly operates the Aircraft in a location or manner that violates the terms of an Aircraft Loan and Security Agreement as provided by the Lessor.
The principal amount of all "Revolving Loans" anticipated to be outstanding on the Fourth Restatement Date with respect to each Related Aircraft is set forth on Schedule 1.1 annexed hereto and shown as the "Existing Aircraft Loan Extension Amount" for such Existing Aircraft and each such "Revolving Loan" shall be deemed to be an "Existing Aircraft Extended Loan" in such principal amount upon the satisfaction of the conditions set forth in subsection 3.1 and the effectiveness of this Agreement.
New Aircraft Loans made with respect to a Related Aircraft may be made through but excluding the third anniversary of the first New Aircraft Loan made with respect to such Related Aircraft; provided, however, that no New Aircraft Loans may be made on or after the Revolving Loan Commitment Termination Date.
Each Loan made after the Fourth Restatement Date shall constitute a New Aircraft Loan and shall be made with respect to a Related Aircraft.
For a period of five years from the Closing Date or the period during which the Sub-servicing Agreement remains in effect (whichever period is longer), the Buyer shall not intentionally induce (or seek to induce) any Person which is a borrower under Financing Documents relating to any Managed Financial Assets to refinance or otherwise replace an Aircraft Loan made by any of the Sellers.
Upon our default under the Master Agreement, any or all Accounts or the Aircraft Loan, all such obligations thereunder shall, at your option, become immediately due and payable without notice or demand to us or any other party obligated thereon, and you shall have and may exercise any and all rights and remedies of a secured party under the Uniform Commercial Code as enacted in the applicable jurisdiction and as otherwise granted to you under such agreements.
The Aircraft Loan shall be repaid as set forth in such note and shall bear interest as set forth therein, payable as set forth therein.
A default under the Master Agreement, the Accounts, or the Aircraft Loan shall be deemed to be a default under all other such agreements.
A default shall result if we fail to pay any sum when due under the Master Agreement, an Account or the Aircraft Loan, or if we breach any of the other terms and conditions thereof, or if we become insolvent, cease to do business as a going concern, make an assignment for the benefit of creditors, or if a petition for a receiver or in bankruptcy is filed by or against us, or if any of our property is seized, attached or levied upon.
Except as hereinafter provided, we agree that your security interest (i) in the Collateral covered by the Master Agreement and any Account thereto now held or hereafter acquired by you; and (ii) the Aircraft under the Aircraft Loan, shall not be terminated in whole or in part until and unless all indebtedness of every kind, due or to become due, owed by us to you is fully paid and satisfied and the terms of every Account have been fully performed by us.