Engine Mortgage definition

Engine Mortgage means, as the context may require a Chilean Engine Pledge, Colombian Engine Pledge, Peruvian Engine Pledge or Brazilian Engine Mortgage.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Engine Mortgage means each Engine Mortgage and Security Agreement entered into and delivered, at any time, by any Borrower or a trustee or guarantor for the benefit of any Borrower in respect of any Whole Engine.

Engine Mortgage means, as the context may require a Chilean Engine Pledge, Colombian Engine Pledge, Peruvian Engine Pledge, FAA Engine Mortgage or Brazilian Engine Mortgage.

Examples of Engine Mortgage in a sentence

• The Borrower shall have duly executed and delivered to the Administrative Agent the Aircraft and Spare Engine Mortgage.

• The Collateral Agent is entitled to the benefits of Section 1110 of the Bankruptcy Code with respect to the Specified Engines as provided in the Engine Mortgage and Security Agreement and to not less than the Minimum 1110 Percentage (determined on the basis of Appraisal Value as of the Closing Date) of the Rotables included within the Pledged Spare Parts as provided in the Spare Parts Security Agreement in the event of a case under Chapter 11 of the Bankruptcy Code in which a Borrower is a debtor.

• This Agreement, the Subordinated Engine Mortgage and the other Operative Documents constitute the entire understanding among the parties hereto with respect to the subject matter hereof and supersede any prior agreements, written or oral, with respect thereto.

• WEST shall cause each WEST Subsidiary that owns an Engine to execute and deliver an Engine Mortgage in favor of the Security Trustee and to file such Engine Mortgage with the FAA and take such other actions as are contemplated by the Engine Mortgage to perfect the security interest of the Security Trustee in such Engine, including registration of the International Interest constituted by such Engine Mortgage with the International Registry.

• Permit any Inventory or any part thereof to be operated in or to any area excluded from coverage by any insurance required by the provisions of Section 8.8 or the insurance provisions of the Engine Mortgage, or permit any Inventory or any part thereof to be operated in or to any Prohibited Country.

More Definitions of Engine Mortgage

Engine Mortgage means each mortgage executed and delivered by the Issuer or an Issuer Subsidiary substantially in the form attached to the Security Trust Agreement, pursuant to which the Issuer or such Issuer Subsidiary shall grant a security interest to the Security Trustee in each Engine owned by it and related assets and in all Leases of such Engine.

Engine Mortgage means each mortgage executed and delivered by WEST or a WEST Subsidiary substantially in the form attached to the Security Trust Agreement, pursuant to which WEST or such WEST Subsidiary shall grant a security interest to the Security Trustee in each Engine owned by it and related assets and in all Leases of such Engine.

Engine Mortgage has the meaning given such term in the Loan Agreement.

Engine Mortgage means a Mortgage and Security Agreement substantially in the form of Exhibit D-1 attached hereto.

Engine Mortgage means the Engine Mortgage and Security Agreement in substantially the form of Exhibit A to this Agreement entered into by the Borrower and the Administrative Agent to secure the Loans, as supplemented by Mortgage Supplement No. 1 thereto pursuant to which all of the Engines and Engine Containers described on Schedule 2 to this Agreement are subjected to the Lien thereof.

Engine Mortgage means, collectively, each Engine Mortgage and Security Agreement pursuant to which each Borrower grants a Security Interest in all of its Engine Inventory to the Agent for the benefit of the Secured Parties.

Engine Mortgage means the Engine Mortgage and Security Agreement pursuant to which the Borrower grants a Lien in all of its Engines to the Agent for the benefit of the Lenders.