Half-Life Base Value definition
Half-Life Base Value means an Appraiser’s opinion of the value of an Asset in an open, unrestricted, stable market environment with a reasonable balance of supply and demand, and with full consideration of the Asset’s “highest and best use”, presuming an arm’s-length, cash transaction between willing, able and knowledgeable parties, acting prudently, with an absence of duress and with a reasonable period of time available for marketing.
Half-Life Base Value means, as of any date of determination, with respect to any Aircraft, Airframe Engine or Spare Engine, (x) initially, the lower of the median and mean of the base value of such Aircraft, Airframe, Engine or Spare Engine assuming half-time maintenance condition reflected in the Initial Appraisals in respect of such Aircraft, Airframe, Engine or Spare Engine and (y) for any determination from and after delivery of the first Appraisal covering such Aircraft, Airframe, Engine or Spare Engine after the Closing Date, the base value of such Aircraft, Airframe, Engine or Spare Engine assuming half-time maintenance condition reflected in the then most recent Appraisal delivered to the Mortgagee in respect of such Aircraft, Airframe, Engine or Spare Engine.
Half-Life Base Value means an Appraiser’s opinion of the value of an Asset in an open, unrestricted, stable market environment with a reasonable balance of supply and demand, and with full consideration of the Asset’s “highest and best use”, presuming an arm’s-length, cash transaction between willing, able and knowledgeable parties, acting prudently, with an absence of duress and with a reasonable period of time available for marketing. [**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. Confidential Treatment Requested: Information for which confidential treatment has been requested is omitted and is noted with asterisks. An unredacted version of this document has been filed separately with the Securities and Exchange Commission.