PBH Assignment definition
PBH Assignment means an agreement, reasonably satisfactory to the Administrative Agent, of the maintenance provider under a PBH Agreement covering a Pledged Engine to enter into an agreement substantially similar to such PBH Agreement, if the Administrative Agent shall have foreclosed on such Pledged Engine, with a subsequent operator of such Pledged Engine, without additional upfront costs, start-up changes or overhaul requirements, provided that the regular ongoing charges under such PBH Agreement may be changed for purposes of the new agreement with such subsequent operator based on relevant factors such as utilization and environmental conditions, size of the new operator’s fleet, term of the new agreement, projected shop visits and life-limited parts consumption and financial situation of the new operator.