Lessor's Lien definition

Lessor's Lien means any Security Interest created by LESSOR, or arising from a claim against LESSOR completely unrelated to this Lease or the other Operative Documents.

Lessor's Lien means any Security Interest created by LESSOR.

Lessor's Lien means any Lien over the Aircraft arising as a result of (a) any act or omission of a Lessor Party or a Lender other than as expressly provided in this Agreement, (b) any indebtedness, liability or other obligation arising by, through or under a Lessor Party or a Lender which is unrelated to this Agreement or the other Operative Documents or the transactions contemplated thereby, (c) the Security Documents from time to time entered into by any Lessor Party or any Lender, or (d) Taxes imposed on any Indemnitee or payments to or the property of any Indemnitee for which Lessee is not required to indemnify.

Examples of Lessor's Lien in a sentence

• For all purposes of this Agreement and the other Operative Documents, any Lessor's Lien or Head Lessor's Lien arising as a result of the nonpayment of any Tax imposed on or measured by the net income of the Trust Estate or the trust created by the Trust Agreement that is not indemnifiable by Lessee or Original Head Lessee shall be deemed to be attributable to Owner Participant, and Owner Participant shall be responsible for all Lessor's Liens attributable to Owner Participant and Owner Trustee.

• Each of the Trust Company, Owner Trustee and Owner Participant severally covenants and agrees with each other party hereto that it shall not cause or permit to exist a Lessor's Lien or Head Lessor's Lien attributable to it with respect to the Aircraft or any other portion of the Trust Estate or the Indenture Estate.

• The Owner Participant further represents, warrants and covenants that there are no Lessor's Liens attributable to it (or an Affiliate thereof) and that there will not be any Lessor's Lien attributable to it (or an Affiliate thereof) on the Delivery Date.

• Each of the Trust Company, Owner Trustee and Owner Participant severally covenants and agrees with each other party hereto that it shall not cause or permit to exist a Lessor's Lien or Head Lessor's Lien attributable to it with respect to the Engine or any other portion of the Trust Estate or the Indenture Estate.

• Without limiting any other rights the parties hereto may have as a result of any breach by the Owner Participant of its obligations in Section 7.03(b) hereof, the Owner Participant agrees to reimburse each other party hereto for all reasonable legal fees and expenses of counsel that may be incurred by any such party as a result of the failure of the Owner Participant to discharge and satisfy any such Lessor's Lien in accordance with the terms of Section 7.03(b) hereof.

More Definitions of Lessor's Lien

Lessor's Lien means any Lien or disposition of title affecting the Aircraft, the Airframe, any Engine or any Part arising as a result of (i) any claim against Lessor, Owner Participant, Trust Company or any of their Affiliates not related to the transactions contemplated by this Lease or the other Operative Documents, the Financing Documents or the Purchase Documents; (ii) any affirmative act of Lessor, Owner Participant, Trust Company or any of their Affiliates not expressly contemplated by this Lease or the other Operative Documents, the Financing Documents or the Purchase Documents or not permitted without consent (which consent has not been granted) by any party hereto or thereto or that is in violation of any term of this Lease or the other Operative Documents, the Financing Documents or the Purchase Documents; (iii) Taxes imposed against the Trust Estate, Trust Company, Lessor or Owner Participant or any of their Affiliates or the consolidated group of taxpayers of which any of them is a member which are not to be indemnified against by Lessee under the Operative

Lessor's Lien means any Lien affecting, on or in respect of, the ------------- Equipment, the Lease or any other part of the Trust Estate arising as a result of (i) claims against the Lessor (in its individual capacity or as Owner Trustee) or the Owner Participant, in each case unrelated to the transactions contemplated by the Operative Agreements, or (ii) acts or omissions of the Lessor (in its individual capacity or as Owner Trustee) or the Owner Participant, in each case unrelated to the transactions contemplated by the Operative Agreements or in breach of any covenant or agreement of such Person set forth in any of the Operative Agreements, or (iii) taxes imposed against the Lessor (in its individual capacity or as Owner Trustee) or the Owner Participant or the Trust Estate which are not required to be indemnified against by the Lessee pursuant to the Participation Agreement or under the Tax Indemnity Agreement.

Lessor's Lien means any Lien over the Aircraft (i) arising as a result of any act or omission of the Lessor that constitutes a breach of any of the terms of this Lease, (ii) arising as a result of any indebtedness, liability or other obligation arising by through or under the Lessor, including, without limitation, any Tax, that is not indemnified against by the Lessee or (iii) resulting from the Credit Agreement or any other Lien from time to time created by or through the Lessor in connection with the financing of the Aircraft.

Lessor's Lien means any Lien or disposition of title affecting the Engine or any Part arising as a result of (i) any claim against Lessor, Owner Participant, Trust Company or any of their Affiliates not related to the transactions contemplated by this Lease or the other Operative Documents, the Financing Documents or the Purchase Documents; (ii) any affirmative act of Lessor, Owner Participant, Trust Company or any of their Affiliates not expressly contemplated by this Lease or the other Operative Documents, the Financing Documents or the Purchase Documents or not permitted without consent (which consent has not been

Lessor's Lien means any Lien on the Aircraft or any Item of Equipment (i) granted to any Financing Party with respect to the Aircraft or any Item of Equipment except where the same are granted in connection with and following the occurrence and during the continuation of an Event of Default, (ii) arising as a result of any act of Lessor, Owner, Owner Participant or any Affiliate of Lessor, Owner or Owner Participant that is in violation of any of the obligations of such Person under the Lease and the other Operative Documents, (iii) any Claim against Lessor, Owner, Owner Participant or any Affiliate of Lessor, Owner, Owner Participant or any Person lawfully claiming by or through any of them that is unrelated to the transactions contemplated by the Lease, (iv) any Liens arising in connection with a Claim for which Lessee is not required to indemnify an Indemnitee hereunder; or (v) Taxes (including claims therefor) imposed on Lessor or any Affiliate of Lessor for which Lessee is not obligated to indemnify Lessor or such Affiliate pursuant to any of the Operative Documents.

Lessor's Lien means any Lien arising as a result of (i) claims against Lessor not related to the transactions contemplated by this Lease, (ii) any act or omission of Lessor which is not related to the transactions contemplated by this Lease or is in violation of any of the terms of this Lease, or (iii) arising out of claims against Lessor with respect to Taxes against which Lessee is not required to indemnify Lessor.

Lessor's Lien means any Lien affecting the Equipment or any part thereof arising as a result of (i) Lessor's rights under or pursuant to this Agreement; (ii) any claim arising from any transfer by Lessor of an interest in the Equipment or this Agreement; (iii) any claim against Lessor not related to the transactions contemplated by this Agreement; (iv) any act or omission of Lessor not expressly contemplated by this Agreement or not permitted without consent (which consent has not been granted) by Lessee or that is in violation of any term of this Agreement or not taken as a result of the occurrence and continuance of a Default as permitted by this Agreement; or (v) taxes imposed against Lessor or the consolidated group of taxpayers of which it is a member which are not to be indemnified against by Lessee under this Agreement; provided, however, that there shall be excluded from this definition and no Lessor's Lien shall exist if such Lien is being diligently contested in good faith so long as neither such proceedings nor Lien involves a material danger of the sale, forfeiture or loss of the Equipment or adversely affects Lessee's rights under this Agreement.