Permitted Sublease definition

Permitted Sublease means a sublease permitted under Section 7.2.7 of the Lease.

Permitted Sublease shall have the meaning specified in Section 6(a)(iii)(1).

Permitted Sublease means each (a) Existing Equipment Sublease (including any renewal or extension thereof to the extent such renewal or extension complies with clauses (i), (iii), (iv), (v), (vi), (vii) and (viii) below) and (b) a sublease, car contract or other agreement granting permission for the use of a Unit, which sublease, car contract or other agreement meets all of the following requirements:

Examples of Permitted Sublease in a sentence

• Lessee may cause or permit any Unit to be lettered with the names or initials or other insignia (other than reporting marks) customarily used by Lessee or any applicable Permitted Sublessee or any of their respective Affiliates on railcars used by it of the same or a similar type for convenience of identification of the right of Lessee to use such Unit hereunder or such Permitted Sublessee to use such Unit pursuant to a Permitted Sublease.

• In addition, in the ordinary course of maintenance, service, repair, overhaul or testing, Lessee (or, if a Permitted Sublease is in effect, a Permitted Sublessee) may at its own cost and expense remove any Parts, whether or not worn out, lost, stolen, destroyed, seized, confiscated, damaged beyond repair or permanently rendered unfit for use, provided that Lessee (or, if a Permitted Sublease is in effect, a Permitted Sublessee) shall replace at its own cost and expense such Parts as promptly as possible.

• Renewals of any Permitted Sublease shall be deemed to be a new Sublease for purposes of this Section 17.1(b) and shall not constitute a Permitted Sublease unless such renewal otherwise qualifies as a Permitted Sublease at the time of such renewal.

• Upon the removal by Lessee of any such Part as provided in the preceding sentence, title thereto shall, without further act, vest in Lessee (or, if a Permitted Sublease is in effect, a Permitted Sublessee) and such Part shall no longer be deemed part of the Aircraft (such a part is herein called a "Removable Part").

• Except as provided herein, Lessee will not allow the name of any Person to be placed on the Aircraft or either Engine as a designation that would be reasonably interpreted as a claim of ownership or Lien; provided, however, that Lessee may cause the Airframe and Engines to have placed thereon the customary colors and insignia of Lessee or any Permitted Sublessee under a Permitted Sublease.

More Definitions of Permitted Sublease

Permitted Sublease has the meaning in Section 17.1(b).

Permitted Sublease means a Sublease which is either (i) a Sublease with a Permitted Lessee Transferee so long as within ten (10) Business Days after Lessee’s entering into any such Sublease with a Permitted Lessee Transferee, Lessee shall provide Lessor with a copy of the executed sublease agreement, or (ii) any other Sublease approved in writing by Lessor. Lessee shall not enter into any Sublease other than a Permitted Sublease, and any Sublease other than a Permitted Sublease shall be null and void ab initio. Renewals of any Permitted Sublease shall be deemed to be a new Sublease for purposes of this Section 17.1(b) and shall not constitute a Permitted Sublease unless such renewal otherwise qualifies as a Permitted Sublease at the time of such renewal.

Permitted Sublease means any sublease of the Aircraft to a Permitted Sublessee permitted under the terms and subject to the conditions of this Lease.

Permitted Sublease means a sublease or sub-sublease permitted under Section 7.2.7 of the Lease.

Permitted Sublease. As defined in Section 9.2(a).

Permitted Sublease means a sublease of the Aircraft described in Section 13.2.

Permitted Sublease a sublease permitted underss. 7.2.7 of the Lease.