Rotables definition

Rotables means those Spare Parts that, in accordance with the FARs and the original equipment manufacturer’s recommendations, can be repeatedly and economically restored to a serviceable condition over a period approximating or exceeding the life of the flight equipment to which they are related.

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Rotables means those Spare Parts that can be repeatedly and economically restored to a serviceable condition over a period approximating the life of the flight equipment to which they are related.

Rotables means Parts Collateral at Designated Locations.

Examples of Rotables in a sentence

• Used collectively to describe all Parts, Components, Expendables, Rotables and supplies required for the maintenance of the Equipment.

• The Collateral Agent is entitled to the benefits of Section 1110 of the Bankruptcy Code with respect to the Specified Engines as provided in the Engine Mortgage and Security Agreement and to not less than the Minimum 1110 Percentage (determined on the basis of Appraisal Value as of the Closing Date) of the Rotables included within the Pledged Spare Parts as provided in the Spare Parts Security Agreement in the event of a case under Chapter 11 of the Bankruptcy Code in which a Borrower is a debtor.

• In the case of Rotables only, an inspection of the Rotables conducted as part of an Approved Appraisal shall mean an inspection of a sample of the Rotables by the Approved Appraiser for the purpose of determining the accuracy of the inventory reports maintained by the Company for the Rotables.

• In addition, if the portion of the Borrowing Base attributable to the Rotables exceeds fifty percent (50%) of all Borrowing Base Collateral as determined in any monthly calculation of the Borrowing Base contained in a Borrowing Base Certificate, such excess amount shall be excluded from the calculation of the Borrowing Base for such month.

• If such updated Borrowing Base Certificate certifies that an Adjustment Event has not occurred, it shall make an appropriate adjustment in the book value of the affected Rotables, as certified in such Borrowing Base Certificate, to take into account the loss or damage to the affected Rotables and shall specify the amount of such adjustment for purposes of calculating the Borrowing Base Value of the Rotables.

More Definitions of Rotables

Rotables means those Spare Parts that can be repeatedly overhauled and repaired.

Rotables has the meaning set forth in the Mortgage.

Rotables has the meaning set forth in the Spare Parts Mortgage.

Rotables means various components of aircraft and spare parts thereof conforming as in 1 ( A), which have been applied to tier intended use by installation or operation on one or more occasions after their initial acceptance by original purchaser. These parts may have been so inspected or repaired or reworked in conformity with methods, processes and tolerances approved by the original manufacturer or the Federal Aviation Administrations as to be in such conditions at the time of shipment by Consignor to Consignee as would in the opinion and to the best knowledge of the owner render such parts fit and proper, serviceable or repairable to again be applied to their intended use as specified by the original manufacturer. In addition to and Material fitting this description, this category shall also include other such items as: 1) auxiliary power units, 2) landing gear assemblies, 3) flight surface assemblies or 4) propeller assemblies.

Rotables are spare parts that wear over time and can be repeatedly restored to a serviceable condition over a period of time approximating the life of the flight equipment to which they relate. "Expendables" consist of: (i) parts that can be restored to a serviceable condition but which have a life less than that of the related flight equipment; and (ii) parts that are generally used once and thereby consumed or thereafter discarded. As stated above, the parties hereto agree that spare engines are not included in the definition of "Inventory" or the definition of "Collateral" as provided herein. The parties hereto further agree that the lien of this Security Agreement will not apply to a particular spare part or piece of Inventory for so long as such spare part or piece of Inventory is installed upon, affixed to, or being used in any aircraft, engine, or other spare part or piece of Inventory so installed, affixed, or being used.

Rotables. Work in Process" and "Other" inventory (the "Inventory") reflected on the May 31 Balance Sheet is (or was prior to the sale thereof) substantially suitable, usable, or (in the case of work in process and finished goods) salable at market prices in the ordinary course of business and have been valued at the lower of cost (on a FIFO basis) or market, in accordance with GAAP. The quantity of the Company's Inventory on hand at the Closing Date will be at levels substantially consistent with the requirements of then outstanding sales Commitments or current sales projections of the Company.

Rotables means spare parts that wear over time and can be repeatedly restored to a serviceable condition over a period of time approximating the life of the flight equipment to which they relate, including without limitation, Rotor(s) and Rotor Blades.