Aircraft Value definition

Aircraft Value means, at any time, with respect to any Aircraft, the current market value, as reflected in the Appraisal Report then most recently delivered to the Agent with respect to such Aircraft.

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Aircraft Value means, in respect of any Aircraft, the product of (i) the Aircraft Purchase Price of such Aircraft and (ii) the quotient obtained by dividing (A) the Depreciation Factor applicable to such Aircraft as of the Delivery Date for such Aircraft or in the case of any Aircraft to which the payment provisions of Section 4.2 applies, the Delivery Expiry Date by (B) the Depreciation Factor applicable to such Aircraft on the AP Closing Date.

Aircraft Value means, with respect to any Aircraft, the lesser of (a) (i) the arithmetic average of the Appraised Values as set forth in three Independent Appraisals, one from each of the three Independent Appraisers, provided to the Agent with respect to the Transfer Date for such Aircraft minus (ii) as of any date of determination, the product of (x) the Monthly Depreciation for such Aircraft multiplied by (y) the number of full Measuring Periods elapsed from the Transfer Date of such Aircraft to the date of the most recent Settlement Date to have occurred and (b) the arithmetic average of the Appraised Values as set forth in three Independent Appraisals, one from each of the three Independent Appraisers, then most recently delivered to the Agent (or, in the case of an Aircraft which has suffered an Event of Loss, then most recently delivered to the Agent prior to such Event of Loss); provided, however, that in any event, with respect to any Aircraft with a Financed Modification, the “grossed up” Independent Appraisal with respect thereto shall be applicable upon substantial completion of such Financed Modification.”

Examples of Aircraft Value in a sentence

• The Stipulated Aircraft Value with respect to any Financed Aircraft as set forth in any lease Contract related to a Receivable at any time is equal to or greater than the Outstanding Balance of such Receivable at such time assuming all current payments are made.

• For purposes of determining the application of the Prefunded Equity Amount, Aircraft added to the Portfolio shall be valued at the Aircraft Value at the Transfer Date for such amount.

• Schedule 1 to the Aircraft Security Agreement, as amended or supplemented from time to time, sets forth a list of Unencumbered Stage 3 Aircraft with an Aircraft Value, as set forth in the most recent Appraisal Report delivered with respect thereto (a copy of which has been delivered to each of the Lenders), equal to the amount set forth opposite such Aircraft.

• If the Closing Date with respect to any Aircraft or Spare Engine is rescheduled in accordance with the proviso of the first sentence of Section 2(a) hereof, then the Purchase Price to be paid for such Aircraft or Spare Engine shall be respectively, the Agreed Aircraft Value and the Spare Engine Agreed Value.

• The Deposit shall be applied by the Seller towards the payment of the Purchase Price or Agreed Aircraft Value and Spare Engine Agreed Values as set forth in Section 2(b) above or, if the Buyer fails to perform its obligations to purchase the Equipment in accordance with this Agreement, retained by Seller.

• Certificates: Loan to Aircraft Value Ratio on any Payment Date (with the value of the Aircraft set forth in Schedule VII hereto) shall be as follows: Series A: not in excess of 40% Series B: not in excess of 55% Series C: not in excess of 75% Average Life: The average life may not be more than 15.5 years in the case of the Series A Certificates, 13.5 years in the case of the Series B Certificates and 12.5 years in the case of the Series C Certificates (but in each case may be decreased by any amount).

• The Purchase Price or the Agreed Aircraft Value or Spare Engine Agreed Value shall be paid simultaneously with compliance with the other conditions precedent set forth in Section 3 hereof.

• In all events, the insurance payment of any property damage loss received under policies maintained by American in excess of the Aircraft Value for an Aircraft shall be paid to American.

• If a Total Loss occurs after the Delivery Date, Lessee shall pay the Agreed Aircraft Value to the Lessor or the Lenders (as the case may be) on or prior to the earlier of (i) 30 days after the date of occurrence of the Total Loss and (ii) the date of receipt of insurance proceeds in respect of that Total Loss.

• As of the Delivery Period Termination Date and each Regular Distribution Date thereafter, the Loan to Aircraft Value for the Class G Certificates (computed as of any such date on the basis of the Assumed Appraised Value of all Aircraft that have been delivered and the Depreciation Assumption) must not exceed (assuming no default in the payment of the Equipment Notes and after giving effect to scheduled payments) 50.5%.

More Definitions of Aircraft Value

Aircraft Value. Cash Collateral Value", "Aircraft", "Eligible

Aircraft Value means, with respect to any Aircraft, the lesser of (a) (i) the arithmetic average of the Appraised Values as set forth in three Independent Appraisals, one from each of the three Independent Appraisers, provided to the Agent with respect to the Transfer Date for such Aircraft minus (ii) as of any date of determination, the product of (x) the Monthly Depreciation for such Aircraft multiplied by (y) the number of full Measuring Periods elapsed from the Transfer Date of such Aircraft to such date of determination and (b) the arithmetic average of the Appraised Values as set forth in three Independent Appraisals, one from each of the three Independent Appraisers, then most recently delivered to the Agent (or, in the case of an Aircraft which has suffered an Event of Loss, then most recently delivered to the Agent prior to such Event of Loss); provided, however, that in any event, with respect to any Aircraft with a Financed Modification, the “grossed up” Independent Appraisal with respect thereto shall be applicable upon substantial completion of such Financed Modification.

Aircraft Value. Cash Collateral Value", "Aircraft", "Eligible Aircraft", "Eligible Cash Collateral" or "Required Collateral Amount" and (ii) amend Section 5.01(m) or Section 5.01(n), and (c) no amendment, waiver or consent shall, unless in writing and signed by the Required Lenders and each Lender (other than any Lender that is, at such time, a Defaulting Lender) that has a Commitment under, or is owed any amounts under or in respect of, the Term Facility or the Revolving Credit Facility if such Lender is directly affected by such amendment, waiver or consent, (i) increase the Commitments of such Lender, (ii) reduce the principal of, or interest on, the Advances held by such Lender or any fees or other amounts payable hereunder to such Lender, (iii) postpone any date fixed for any payment of principal of, or interest on, the Advances held by such Lender or any fees or other amounts payable hereunder to such Lender or (iv) postpone any date fixed for the reduction of the Commitments of any Lender; provided further that no amendment, waiver or consent shall, unless in writing and signed by the Agent in addition to the Lenders required above to take such action, affect the rights or duties of the Agent under this Agreement or the other Financing Documents.

Aircraft Value. Aircraft Value (“AV”) will be determined by the average of the three desktop appraisals to be provided by the Appraisers to the Agent and the Borrower. The individual appraisals will rely upon “Base Values” as defined by ISTAT, adjusted for current physical condition, based on the relevant physical inspection report. The AV of the aggregate funded aircraft will be updated by the Appraisers from time to time and under certain circumstances as to be determined by the Agent and the Borrower in the final documentation. Such updated appraisals shall be based on the aircraft’s condition as reflected in the most recent physical inspection or other relevant maintenance records to the extent applicable and available.

Aircraft Value has the meaning set forth in Section 1.01 of the Credit Agreement.

Aircraft Value means, with respect to any Aircraft, the arithmetic average of the Appraised Values as set forth in three Independent Appraisals, one from each of the three Independent Appraisers, then most recently delivered to the Agent (or, in the case of an Aircraft which has suffered an Event of Loss, then most recently delivered to the Agent prior to such Event of Loss).