Flight Options definition
Examples of Flight Options in a sentence
When using the Company Plane for a flight that is exclusively for personal use, Executive shall reimburse the Company for the out-of-pocket cost to the Company of such flight as invoiced by Flight Options LLC or a successor owner, charterer, lessor or servicer of the Company Plane, as the case may be (the “Invoiced Amount”).
AOL LLC’s 2.882% undivided interest in one 2001 Raytheon Hawker 800XP aircraft bearing manufacturer’s serial number 258543, together with two ▇▇▇▇▇▇▇ TFE 731-5BR engines bearing manufacturer’s serial numbers P107629 and P107631 (collectively, the “Aircraft”), which is managed and operated within the fractional ownership program of Flight Options, LLC and subject to common agreements governing a consolidated undivided 37.5% interest in the Aircraft held by TWX, Time Inc., Warner Bros.
In the case of an Aircraft Fractional Share, upon the request of the Administrative Agent (with the prior written consent of the Control Party), or the Control Party (with prior written notice to the Administrative Agent), the Servicer shall exercise its right to have Flight Options repurchase such interest for a price based on fair market value at such time and apply such proceeds to the repayment of the related Receivable.