MSAF definition
Examples of MSAF in a sentence
No beneficial owner of MSAF shall be deemed to have a severable ownership interest in any individual asset of MSAF or any right of partition or possession thereof.
In the event that MSAF Group shall acquire any Additional Aircraft and notwithstanding that MSAF Group may retain different service providers for such Additional Aircraft, the Administrative Agent hereby agrees to provide the same Administrative Services with respect to all such Additional Aircraft.
Notwithstanding any of the provisions of this Trust Agreement, any notice to be given by MSAF to a Trustee may be given in any manner agreed in advance by any such Trustee.
Each Controlling Trustee shall have the power to vote an equal portion of all of the voting rights of MSAF.
Where the Administrative Agent is required to account for value added tax in respect of any amounts payable by or on behalf of MSAF Group to the Administrative Agent, MSAF Group, shall cause to be paid to the Administrative Agent such additional amounts as are necessary to discharge such value added tax upon production of a valid value added tax invoice.
For so long as any amount is outstanding or payable under any debt securities of MSAF, the Trustees shall not have the power to take any action in their capacities as Trustees that would cause MSAF or any of its subsidiaries to be in violation of the terms governing any such debt securities.
To the extent that the Administrative Agent shall deem it necessary or desirable in order for MSAF Group to carry on its business, the Administrative Agent shall have the authority to assist in the formation of new Subsidiaries of MSAF and to appoint any director to any such Subsidiary without the consent of MSAF Group; provided, that such directors are the same directors of MSAF then in office unless otherwise required by applicable local law mandating a particular citizenship for directors.
No later than each Calculation Date, the Administrative Agent shall deliver a notice to the MSAF Group, setting forth the amounts of expenses paid by the Administrative Agent pursuant to Section 6.02 of this Agreement through and including such Calculation Date (it being understood that if there are no such expenses the Administrative Agent will be under no obligation to provide such notice).
Notwithstanding anything to the contrary contained in Section 2.04(d)(iv) or (v) hereof, following the delivery of a Default Notice to the Administrative Agent or MSAF pursuant to the Indenture, after the withdrawals and transfers provided for in Section 2.04(d)(iv) hereof have been made, the Administrative Agent shall distribute funds on deposit in the Collection Account and the Expense Account in the amounts and in the order of priority provided for in Section 3.08(b) of the Indenture.
A Controlling Trustee, notwithstanding his interest, may be counted in the quorum present at any meeting at which he is appointed to hold office or place of profit under MSAF, or at which the terms of his appointment are arranged, but he may not vote on his own appointment or the terms thereof.