Partial Loss Proceeds definition

Partial Loss Proceeds means, with respect to any ACS Group Aircraft, the total proceeds of the insurance or reinsurance (other than in respect of liability insurance) paid in respect of any Partial Loss to any ACS Group Member.

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Partial Loss Proceeds means, with respect to any Asset, the total proceeds of the insurance or reinsurance (other than in respect of liability insurance) paid in respect of any Partial Loss to any Issuer Group Member.

Partial Loss Proceeds means, with respect to any Engine, the total proceeds of the insurance or reinsurance (other than in respect of liability insurance) paid in respect of any Partial Loss to any Issuer Group Member.

Examples of Partial Loss Proceeds in a sentence

All Collections (including all Rental Payments and Usage Fees transferred from the Lessor Accounts, Partial Loss Proceeds and any amounts transferred from the Security Deposit Account) shall be, when received, deposited in the Collections Account, and all cash, Investments and other property in the Collections Account shall be transferred from or retained in the Collections Account in accordance with the terms of this Indenture.
With respect to amounts on deposit in any applicable Partial Loss Proceeds Account, upon the Manager providing verification to the Security Agent (with a copy to the Administrative Agent) that a payment is due in respect of any work performed on the applicable Vessel in respect of which the Partial Loss Proceeds were paid, such amount shall be withdrawn from time to time by the Security Agent upon receipt of written notice by the Manager (with a copy to the Administrative Agent) to pay such payment.
All Collections (including all Rental Payments and Usage Fees transferred from the Rental Accounts, Net Sale Proceeds, Partial Loss Proceeds and any amounts transferred from the Security Deposit Account) shall be, when received, deposited in the Collections Account, and all cash, Investments and other property in the Collections Account shall be transferred from or retained in the Collections Account in accordance with the terms of this Indenture.
Any funds received constituting Partial Loss Proceeds shall be promptly transferred by the Security Agent to the applicable Partial Loss Proceeds Account for application as provided in clause (c) below.
The Collections Account, the Special Payments Account, the Expenses Account, the Letter of Credit Reserve Account, each Vessel Funding Account, each Partial Loss Proceeds Account and the Reserve Funding Account (in each case, together with any sub-accounts established by the Security Agent with respect thereto) are referred to herein collectively as the “Collateral Accounts”.

More Definitions of Partial Loss Proceeds

Partial Loss Proceeds means any payments received (x) at any time by Lessor (or, while the Lien of the Indenture is in effect, Indenture Trustee) or Lessee (including any such payments received by Lessee, Indenture Trustee or Owner Participant, and paid over to Lessor (or, while the Lien of the Indenture is in effect, Indenture Trustee) or applied as set forth below) from any insurer under insurance carried by Lessee or from any Governmental Body with respect to any Partial Loss or requisition or (y) by Seller or Lessee from the satellite manufacturer in respect of the Satellite pursuant to the indemnification or warranty obligations of the manufacturer under the Boeing Purchase Agreement (and Seller shall use its commercially reasonable efforts to determine if it is entitled to any such payments under such indemnification or warranty obligations, and in such event use its commercially reasonable efforts to enforce its rights to such payments). Subject to the right of Lessee to effect a Substitution in accordance with Section 8(a) (in which event all Partial Loss Proceeds relating to the Buyer’s Transponders replaced in such Substitution shall, after such Substitution is consummated, be paid promptly to and/or retained by Lessee), on the Casualty Payment Date first occurring after the date of receipt of Partial Loss Proceeds, Lessee shall pay to Lessor or, so long as the Indenture shall remain in effect, the Indenture Trustee, an amount equal to the Applicable Portion of the Stipulated Loss Value for Buyer’s Transponders determined as of such Casualty Payment Date (net of any Partial Loss Proceeds already paid to or received by Lessor or Indenture Trustee). The “Applicable Portion” shall be (A) if the Partial Loss Proceeds shall constitute proceeds from satellite in-orbit insurance maintained by Lessee pursuant to this Lease, the fraction determined by dividing the amount of such Partial Loss Proceeds by the amount of such insurance maintained by Lessee; and (B) in all other cases shall be the fraction that the loss in the Fair Market Sales Value of Buyer’s Transponders attributable to the Partial Loss or requisition bears to the Fair Market Sales Value of Buyer’s Transponders immediately prior to the Partial Loss or requisition (together with the loss in the Fair Market Sales Value of Buyer’s Transponders attributable to all other Partial Losses and requisitions), as determined by an Appraisal Procedure (provided that if Lessee reasonably estimates the loss in the Fair Market ...

Partial Loss Proceeds shall have the meaning set forth in Section12(c)(ii) of the Lease.