Lessor Indenture definition
Examples of Lessor Indenture in a sentence
So long as no Lease Event of Default or Lease Default shall have occurred and be continuing, Lessee shall have the right, at its option at any time during the Term, on at least 30 days' prior written notice to Lessor, Indenture Trustee, the Original Loan Participant and the Owner Participant, to terminate this Lease with respect to any Engine not then installed or held for use on the Airframe.
At all reasonable times, and upon reasonable notice, Lessor, Indenture Trustee or any Participant or its authorized representatives may inspect the Aircraft and inspect and copy (subject to any confidentiality agreements, copyright restrictions and the like) the books and records of Lessee relative thereto.
In the event that Lessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor, Indenture Trustee or any Participant may at its option (but shall not be obligated to) provide such insurance and in such event, Lessee shall, upon demand, reimburse such Person, as Supplemental Rent, for the cost thereof.
In addition, Lessee shall promptly notify Lessor, Indenture Trustee, the Original Loan Participant and the Owner Participant after a Responsible Company Officer of Lessee shall acquire knowledge of a Lease Default or Lease Event of Default.
With respect to any policy required hereunder, Lessee shall cause to be furnished to Lessor, Indenture Trustee and each Participant on or prior to the Delivery Date of the Aircraft and on or prior to expiration of such policy, certificates of the insurer or insurers (or their authorized representatives) providing insurance pursuant to the requirements of this Section 11.
In the event that Lessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor, Indenture Trustee, Owner Participant or, so long as Pass Through Trustee is a Holder, Pass Through Trustee, may at its option (but shall not be obligated to) provide such insurance and in such event, Lessee shall, upon demand, reimburse such Person, as Supplemental Rent, for the cost thereof.
Neither Lessor, Indenture Trustee nor any Participant shall have any duty to make any such inspection or shall incur any liability or obligation by reason of not making any such inspection.
Lessee agrees that it will cause such firm to advise Lessor, Indenture Trustee, the Original Loan Participant and Owner Participant in writing promptly of any default in the payment of any premium or any other act or omission on the part of Lessee or any Permitted Sublessee of which they have knowledge and which might invalidate or render unenforceable, in whole or in part, the insurance on the Aircraft.
Any insurance payments received from policies maintained by Lessor, Indenture Trustee or Owner Participant pursuant to the previous sentence shall be retained by Lessor, Indenture Trustee or Owner Participant, as the case may be, without reducing or otherwise affecting Lessee’s obligations hereunder.
To the extent such agreement is reasonably obtainable, Lessee further agrees to cause such firm to advise Lessor, Indenture Trustee and each Participant in writing at least 30 days (seven days in the case of war-risk and allied perils coverage or such lesser or greater notice as is customary in the aviation industry generally) prior to any expiration, lapse, alteration, cancellation or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 11.