Permitted Lessee definition

Permitted Lessee means any Person to whom Company is permitted to lease the Airframe or any Engine pursuant to Section 7.02(a) of the Indenture and is a party to a Lease.

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Permitted Lessee means the lessee under a Permitted Lease.

Permitted Lessee means any of the following:

Examples of Permitted Lessee in a sentence

• Upon the removal by the Company (or any Permitted Lessee) of any Part as permitted by this Section 7.04(c), such removed Part shall, without further act, be free and clear of all rights and interests of the Loan Trustee and the Lien of this Indenture and shall no longer be deemed a Part hereunder.

• In all events, (x) the insurance payment of any property damage or loss with respect to property other than the Airframe or any Engine received under policies maintained by the Company (or, if a lease to a Permitted Lessee is then in effect, by such Permitted Lessee), and (y) the insurance payment for any loss or damage to the Aircraft in excess of the Loan Amount, shall be paid to the Company (or such Permitted Lessee) or its designee.

• All salvage rights to the Airframe and each Engine shall remain with the Company’s insurers or the applicable Permitted Lessee’s insurers, as the case may be, at all times, and any insurance policies of the Loan Trustee insuring the Airframe or any Engine shall provide for a release to the Company or such Permitted Lessee, as the case may be, of any and all salvage rights in and to the Airframe or any Engine.

More Definitions of Permitted Lessee

Permitted Lessee means a lessee under a Permitted Lease.

Permitted Lessee means any entity domiciled in a country listed in Schedule III to the Trust Indenture.

Permitted Lessee has the meaning specified in Section 12 of the Series 2010-3

Permitted Lessee has the meaning set forth in Section 3.02(b)(iv) hereof.

Permitted Lessee means any (i) manufacturer of airframes or aircraft engines, or any Affiliate of a manufacturer of airframes or aircraft engines, (ii) any Permitted Foreign Air Carrier, (iii) any Person approved in writing by the Indenture Trustee and (iv) any U.S. Air Carrier.

Permitted Lessee has the meaning specified in Clause 12 of each Master Lease.

Permitted Lessee means any Person to whom the Grantor is permitted to lease any Airframe or any Engine pursuant to Section 6.01(a) of the Aircraft Security Agreement.