Substitute Aircraft definition

Substitute Aircraft. Has the meaning specified in the NPA.

Substitute Aircraft shall have the meaning set forth in the Note Purchase Agreement.

Substitute Aircraft. Has the meaning specified in the Note Purchase Agreement.

Examples of Substitute Aircraft in a sentence

• Customer’s substitution right is conditioned upon Boeing’s having production capability for the Substitute Aircraft in the scheduled delivery month of the Aircraft for which it will be substituted.

• See "Description of the Aircraft and the Appraisals -- Substitute Aircraft".

• If the Advance Payment Base Price of the Substitute Aircraft is lower than that of the Aircraft, Boeing will retain any excess amounts previously paid by Customer until the next payment is due from Customer, at which point Customer may reduce the amount of such payment by the amount of the excess.

• If the Advance Payment Base Price for any Substitute Aircraft is higher than that of the Aircraft, Customer will pay to Boeing the amount of the difference as of the date of execution of the definitive agreement for the Substitute Aircraft.

• The Buyer and the Seller acknowledge that, pursuant to and in accordance with the terms set out in the Buyback Support Agreement, an Aircraft may be replaced with a Substitute Aircraft (as defined in the Buyback Support Agreement) and, if any such substitution were to occur, the abovementioned Conditions Precedent shall be deemed to apply to the Substitute Aircraft in place of the Aircraft.

More Definitions of Substitute Aircraft

Substitute Aircraft. Means, with respect to any Trust, any Aircraft of a type specified in this Agreement and, at the election of the Company, substituted prior to the applicable Cut-off Date, if any, pursuant to the terms of this Agreement.

Substitute Aircraft has the meaning set forth in Section 1(h) of the Note Purchase Agreement.

Substitute Aircraft has the meaning set forth in Section 1(g) of the Note Purchase Agreement.

Substitute Aircraft means an airframe of a different model of the same or different manufacturer as the Airframe, together with two engines suitable for installation and use on such airframe.

Substitute Aircraft means any aircraft which Customer has designated, pursuant to Section 5.1 hereof, to be delivered in lieu of a Firm Aircraft.

Substitute Aircraft has the meaning given to such term in the Purchase Agreement or the Guarantor Purchase Agreement, as applicable, and that has been approved by the Facility Agent.

Substitute Aircraft means, with respect to any Trust, any Aircraft of a type specified in this Agreement and, at the election of the Company, substituted prior to the applicable Cut-off Date, if any, pursuant to the terms of this Agreement.