Permitted Excess Disposition definition

Permitted Excess Disposition means a sale or disposition of an Aircraft (or a beneficial interest therein) that is not a Qualifying Aircraft pursuant to a bona fide sale to a third-party on arm’s length terms which requires immediate payment in cash in full and provided that (i) the sales proceeds of such sale or disposition are in an amount not less than 105% of the unpaid Original Amount of the related Equipment Notes at the time of such disposition, (ii) after giving pro forma effect to such sale or disposition as at September 20, 2023, the Weighted Average Age of all Aircraft of the same model as such Aircraft shall not be increased by more than two (2) years, and (iii) after giving pro forma effect to such sale or disposition and the concurrent redemption under Section 2.11(c) of the applicable Indenture, the LTV Ratio shall be no greater than the LTV Ratio immediately prior to such sale or disposition. With respect to any sale or disposition of more than one Aircraft in a single transaction or a series of related transaction, in each case which occur substantially simultaneously, the foregoing requirements must be satisfied with respect to all such Aircraft on an aggregate basis.”
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Permitted Excess Disposition is defined in the Note Purchase Agreement.”
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Related to Permitted Excess Disposition

  • from an Asset Disposition means cash payments received therefrom (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise and proceeds from the sale or other disposition of any securities received as consideration, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring Person of Indebtedness or other obligations relating to such properties or assets or received in any other non-cash form), in each case net of:

  • Permitted Asset Disposition means (i) any Asset Disposition permitted by Section 8.5 and (ii) any Excluded Asset Disposition.

  • Permitted Asset Swap means the concurrent purchase and sale or exchange of Related Business Assets or a combination of Related Business Assets and cash or Cash Equivalents between the Borrower or a Restricted Subsidiary and another Person; provided that any cash or Cash Equivalents received must be applied in accordance with Section 10.4.

  • Permitted Asset Dispositions means the following Asset Dispositions:

  • Collateral Disposition means (i) the sale, lease, transfer or other disposition of the Vessel by the Borrower to any Person (it being understood that a Permitted Chartering Arrangement is not a Collateral Disposition) or the sale of 100% of the Capital Stock of the Borrower or (ii) any Event of Loss of the Vessel.