Lease Event of Default any one or more of the conditions, circumstances, acts, or events set forth inss. 14 of the Lease. LESSEE: American Trans Air, Inc., an Indiana corporation.
Lease Event of Default. If a Lease Event of Default shall occur under an Eligible Lease, Lender shall have the right to require the Borrower to prepay, and the Borrower shall prepay, on a date no later than 180 days from the date of the Lender’s request for such prepayment, the entire then outstanding principal of the relevant Loan, together with interest thereon and all other amounts due the Lender under the Loan Documents to the extent they relate to such relevant Loan (including, but not limited to, Break Costs); provided, however, in respect of any Eligible Lease the Borrower shall have the right to cure two such Lease Events of Default before the Lender shall have the right to require the prepayment provided for herein.
Lease Event of Default. If an event of default (howsoever described) is continuing under a Lease or a Permitted Sub- Lease whilst a Lessee or Sub-lessee, as the case may be, is in possession of the Aircraft, the Head Lessee shall promptly notify the Security Trustee of the steps that it is proposing to take to enforce the terms of the Lease or Permitted Sub-lease, as the case may be.
Lease Event of Default. Upon the occurrence and continuation of a Lease Event of Default, pursuant to which a termination payment as set forth in Section 24(d) of the Lease Agreement has become due and payable automatically or with the consent, or at the request, of the Administrative Agent, such Certificate Holder Amounts evidenced by the Certificates (with accrued Equity Return thereon) and all other amounts owing to the Certificate Holders by Trustee under this Trust Agreement, the Certificates and the other Operative Documents shall immediately become due and payable.
Lease Event of Default. The waiver here given is specific to the covenants, and for the fiscal quarter of Lessee, referred to above and shall not operate as a waiver of compliance by Lessee with any other covenants set forth in the Participation Agreement, or with the covenants set forth above for any other fiscal quarter of Lessee.
Lease Event of Default. The Operating Lessor shall be expressly entitled by the Operating Lease to terminate the leasing of the Aircraft by the Operating Lessee, and to repossess the same, at any time after the expiration of the agreed grace period or remedy period, if any, of the occurrence of certain events, which will be broadly consistent with those set out in Section 15 (Events of Default) of the Model Form Operating Lease, amended mutatis mutandis to reflect the change in Operating Lessee, but in any event including in such events, failure of the concerned Operating Lessee to pay amounts payable by it thereunder or to affect Insurances in accordance with the requirements of the relevant Operating Lease or the bankruptcy of such Operating Lessee. The Operating Lessor may negotiate with the applicable Operating Lessee additional exceptions and qualifications which are consistent with the Standard.
Lease Event of Default. The occurrence of a Lease Event ----------------------- of Default.
Lease Event of Default. Any amount referred to in Section 11.5, or any amount payable in connection with events described in the first sentence of Section 11.6, or any amount which is insurance proceeds received in connection with any damage or destruction, theft, loss or disappearance which does not constitute an Event of Loss, which is payable to the Lessee shall not be paid to the Lessee, or if it has been previously paid directly to the Lessee, shall not be retained by the Lessee, if at the time of such payment a Lease Default or Lease Event of Default shall have occurred and be continuing, but shall be paid to and held by the Lessor (or, so long as the Lien of the Indenture has not been discharged, the Indenture Trustee) as security for the obligations of the Lessee under this Lease, and at such time as there shall not be continuing any such Lease Default or Lease Event of Default, such amount (unless theretofore otherwise applied to the obligations of the Lessee hereunder) shall be paid over to the Lessee.
Lease Event of Default. Pursuant to Section 7.11 of the Credit Agreement, Borrowers are prohibited from entering into, as lessee, any lease arrangement for real or personal property (unless capitalized and permitted under Section 7.6 of the Credit Agreement) if after giving effect thereto, the aggregate annual rental payments for all leased property would exceed $250,000 in any one fiscal year. Borrowers informed Agent and the Lenders that for the 2013 fiscal year, Borrowers' aggregate annual rental payment for all leased property exceeds the required limit set forth in Section 7.11 by approximately $38,000. Pursuant to Section 10.5 of the Credit Agreement, an Event of Default has occurred and is continuing by virtue of the Borrower's failure to comply with the covenant contained in Section 7.11 of the Credit Agreement (the "Lease Event of Default");
Lease Event of Default. The Borrower will promptly provide the Lenders with copies of all amendments to the foregoing documents and instruments as in effect as of the Closing Date.
