Owned Asset definition
Owned Asset means Financed Leased Aircraft or Financed Leased Engine, as applicable;
Owned Asset has the meaning assigned to that term in the definition of “Assigned Value (Liquid Credit)”.
Owned Asset has the meaning assigned to that term in the definition of “Market Value”.
Examples of Owned Asset in a sentence
Only one Loan shall be made in respect of each Asset, provided that (i) the Borrower will be able to borrow a Loan with respect to an Asset which had been subject to a Loan which had been repaid in full at least 60 days prior to the Applicable Drawdown Date of such new Loan and (ii) the Borrower may submit an Off-Lease Owned Asset True-Up Request pursuant to Section 2.02(c).
Each Appraisal which is required to be delivered to the Administrative Agent pursuant to this Agreement shall set forth the desk-top appraisal of the current market value and base value of all Funded Assets (and each Owned Asset which comprises Additional Collateral), as calculated by each of the three applicable Appraisers using the same methodology as that used to calculate the Appraised Value pursuant to the Initial Appraisals, adjusted for the utilization of, and maintenance performed on, such Engine.
The Borrower will not, nor will it permit any Borrower Group Company to, knowingly lease or re-lease any Owned Asset to any Asset Lessee or knowingly make any loans pursuant to any Loan Asset to a Loan Asset Borrower located in, or as a result of which such Funded Asset would be, or would be permitted to be habitually operated, in any Sanctioned Jurisdiction, or to any Obligor that is a Sanctioned Person, in each case, in violation of applicable Sanctions.
More Definitions of Owned Asset
Owned Asset means a Loan Asset that the Administrative Agent or any of its Affiliates owns for its own account.
Owned Asset as defined in the Credit Agreement, including, for the avoidance of doubt, the Asset. “Part” means any and all parts, avionics, attachments, accessions, appurtenances, furnishings, components, appliances, accessories, instruments and other equipment installed in, or attached to (or constituting a spare for any such item installed in or attached to) the Asset. SCHEDULE 12-A-8 “Person” means any natural person, firm, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization, government or any political subdivision thereof or any other legal entity, including public bodies. “Rent Payments” means all payments of basic rent under a Lease that are payable in respect of periods specified under such Lease. “Secured Party” has the meaning specified in the Security Agreement. “Security Agreement” has the meaning specified in the preliminary statements to this Agreement and is attached hereto as Schedule 2. “Security Deposits” means any cash deposits and other collateral provided by, or on behalf of, a Lessee to secure the obligations of such Lessee under a Lease. “Security Trustee” has the meaning specified in the recital of parties to this Agreement. “Subsidiary” means, as to any Person, a corporation, partnership, limited liability company or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or other managers of such corporation, partnership, limited liability company or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person. “Trust Agreement” means the [Amended and Restated] Trust Agreement No. [_], dated as of [__________], between the Grantor and [__] (as successor to _____________). “Trust Estate” has the meaning specified in the Trust Agreement. “Utilization Rent” means any payment (including any use payment) under a Lease that is based on the usage of the Owned Asset subject to such Lease or which is based on, or in respect of which, the Lessor under a Lease may be obligated to reimburse the Lessee under such Lease for specified maintenance activities with respect to such Owned Asset. SCHEDULE 12-A-9 SCHEDULE 1 MORTGAGE AND SECURITY AGREEMENT MORTGAGE COLLATERAL [“Airframe” means one (...
Owned Asset means any “Owned Asset” as defined in the Credit Agreement, including, for the avoidance of doubt, the Asset. “Secured Party” has the meaning specified in the Security Agreement. “Security Agreement” has the meaning specified in the preliminary statements to this Agreement and is attached hereto as Schedule 2. SCHEDULE 12-C-18 “Security Deposits” means any cash deposits and other collateral provided by, or on behalf of, a Lessee to secure the obligations of such Lessee under a Lease. “Security Trustee” has the meaning specified in the recital of parties to this Agreement. “Subsidiary” means, as to any Person, a corporation, partnership, limited liability company or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or other managers of such corporation, partnership, limited liability company or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person. “Utilization Rent” means any payment (including any use payment) under a Lease that is based on the usage of the Owned Asset subject to such Lease or which is based on, or in respect of which, the Lessor under a Lease may be obligated to reimburse the Lessee under such Lease for specified maintenance activities with respect to such Owned Asset. SCHEDULE 12-C-19 SCHEDULE 1 LEASE SECURITY ASSIGNMENT DESCRIPTION OF INITIAL LEASE SCHEDULE 12-C-20 SCHEDULE 2 LEASE SECURITY ASSIGNMENT SECURITY AGREEMENT (INTENTIONALLY OMITTED AS CONTAINING CONFIDENTIAL INFORMATION)
Owned Asset has the meaning set forth in Section 4.10(a). (tt) “Ownership Limits” has the meaning set forth in Section 1.02. (uu) “Person” means an individual, corporation, partnership, limited liability company, joint venture, association, trust, unincorporated organization or other entity. (vv) “Portfolio Investment” means each loan or other investment that is either an Owned Asset or a Repurchase Agreement Asset. (ww) “Promissory Note” means, with respect to each Portfolio Investment, the promissory note as executed by the borrower under the related Loan Agreement in favor of the lender under the related Loan Agreement, as the same may have been and as may be further amended or otherwise modified from time to time. (xx) “Qualifying Income” means gross income that is described in Section 856(c)(2) or 856(c)(3) of the Code. (yy) “Redeemable Preferred Shares” means shares of 10% Cumulative Redeemable Preferred Stock of the REIT, par value $0.01 per share, having a liquidation preference of $1,000 per share (plus accrued and unpaid dividends). (zz) “REIT Indemnified Party” has the meaning set forth in Section 6.01. (aaa) “REIT Material Adverse Effect” means any material adverse change in any of the assets, business, condition (financial or otherwise), results of operation or prospects of the REIT and its Subsidiaries, taken as a whole. (bbb) “REIT Qualification Ruling” has the meaning set forth in Section 6.05. (ccc) “REIT or Manager Knowledge” means the knowledge of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇ and ▇▇▇▇▇ ▇▇▇. (ddd) “REIT Requirements” shall mean the requirements imposed on REITs pursuant to Sections 856 through and including 860 of the Code. (eee) “REIT Shares” has the meaning set forth in the recitals. (fff) “Release Document” has the meaning set forth in Section 6.05. (ggg) “Repurchase Agreement Asset” has the meaning set forth in Section 4.10(b). (hhh) “Securities Act” means the Securities Act of 1933, as amended, the rules and regulations promulgated thereunder.
Owned Asset has the meaning set forth in Section 4.10(a).
Owned Asset means a Title Owned Asset or a Trust Owned Asset (including each Inventory Asset). “Owned Asset Agreement” means any lease, sublease, conditional sale agreement, finance lease, financing agreement, hire purchase agreement or other agreement (other than any agreements relating to maintenance, modification or repairs) or any purchase option granted to a Person to purchase any Funded Asset, in each case pursuant to which any Person acquires or is entitled to acquire legal title, or the economic benefits of ownership of, such Funded Asset. “Owned Asset Documents” means, with respect to an Owned Asset, all records, logs (including maintenance logs), technical data, manuals and any other documents defined as “Owned Asset Documents”, “Technical Records” or any similar term as defined in the Portfolio Documents related thereto. “Owner Trust” means each common law or statutory trust, the beneficial interest in which is held by a Borrower Group Company as specified in schedule 4 of the Security Agreement (as supplemented from time to time pursuant to an Assumption Agreement or Collateral Supplement). “Owner Trustee” means, in respect of each Owner Trust, the entity acting as trustee (and not in its individual capacity) in respect of such Owner Trust. “Ownership Interests” has the meaning assigned to such term in Section 8.02. “Parent” means WLFC, solely in its capacity as the sole member and parent of the Borrower. “Part” means any part, component, appliance, accessory, instrument or other item of equipment (other than any Aircraft Engine) installed in or attached to (or constituting a spare for any such item installed in or attached to) any Owned Asset or Underlying Asset. “Participant” has the meaning assigned to such term in Section 12.04(c)(i). “Payment Date” means, the 15th day of each month, provided that if any Payment Date would otherwise fall on a day that is not a Business Day, such Payment Date will be the first following day that is a Business Day, commencing on June 15, 2024. - 39 -#4921-3226-4509v1#4921-3226-4509v7 “Periodic Term SOFR Determination Day” has the meaning assigned to such term in the definition of “Term SOFR”. “Permitted Advance Amount” means: (a) in respect in respect of a Group 1 Asset or Group 2 Asset, the lower of (i) for an Owned Asset subject to an Asset Operating Lease or otherwise an Inventory Asset, the applicable Asset Advance Rate multiplied by the Initial Appraised Value or the most recent Appraised Value of the related Owned ...
Owned Asset has the meaning assigned to that term in the definition of “Assigned Value (Broadly Syndicated).”