Common use of SALE AND USE Clause in Contracts

SALE AND USE. Lessor may sell the Airframe and/or any Engine at public or private sale, at such times and places, and to such Persons (including Lessor, Mortgagee or any Participant), as Lessor may determine; or Lessor may otherwise dispose of, hold, use, operate, lease to others or keep idle the Airframe and/or any Engine, as Lessor, in its sole discretion, may determine, all free and clear of any rights of Lessee and without any duty to account to Lessee with respect to such action or inaction or for any proceeds with respect thereto, except as hereinafter set forth in this Section 15, and except to the extent that such proceeds would constitute, under applicable Law, a mitigation of Lessor's damages suffered or incurred as a result of the subject Lease Event of Default. Lessor shall give Lessee at least 15 days prior written notice of the date fixed for any public sale of the Airframe and/or any Engine or of the date on or after which will occur the execution of any contract providing for any private sale.

Appears in 19 contracts

Samples: Lease Agreement (Continental Airlines Inc /De/), Lease Agreement (Continental Airlines Inc /De/), Lease Agreement (Atlas Air Worldwide Holdings Inc)

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SALE AND USE. Lessor may sell the Airframe and/or or any Engine at public or private sale, at such times time(s) and placesplace(s), and to such Persons Person(s) (including Lessor, Mortgagee or any Owner Participant), as Lessor may determinedetermines; or Lessor may otherwise dispose of, hold, use, operate, lease to others others, or keep idle the Airframe and/or or any Engine, as Lessor, in its sole discretion, may shall determine, all free and clear of any rights of Lessee and without any duty to account to Lessee with respect to such action or inaction or for any proceeds with respect thereto, except as hereinafter set forth in this Section ss. 15, and except to the extent that such proceeds would constitute, under applicable Law, a mitigation of Lessor's damages suffered or incurred as a result of the subject Lease Event of Default. Lessor shall give to Lessee at least 15 days days' prior written notice of the date fixed for any public sale of the Airframe and/or or any Engine or of the date on or after which will occur the execution of any contract providing for any private sale.

Appears in 2 contracts

Samples: Participation Agreement (Amtran Inc), Lease Agreement (Amtran Inc)

SALE AND USE. Lessor may sell the Airframe and/or or any Engine at public or private sale, at such times time(s) and placesplace(s), and to such Persons Person(s) (including Lessor, Mortgagee or any Participant), as Lessor may determinedetermines; or Lessor may otherwise dispose of, hold, use, operate, lease to others others, or keep idle the Airframe and/or or any Engine, as Lessor, in its sole discretion, may shall determine, all free and clear of any rights of Lessee and without any duty to account to Lessee with respect to such action or inaction or for any proceeds with respect thereto, except as hereinafter set forth in this Section ss. 15, and except to the extent that such proceeds would constitute, under applicable Law, a mitigation of oF Lessor's damages suffered or incurred as a result of the subject Lease Event of Default. Lessor shall give to Lessee at least 15 days days' prior written notice of the date fixed for any public sale of the Airframe and/or or any Engine or of the date on or after which will occur the execution of any contract providing for any private sale.

Appears in 2 contracts

Samples: Participation Agreement (Amtran Inc), Lease Agreement (Amtran Inc)

SALE AND USE. Lessor may sell the Airframe and/or or any Engine at public or private sale, at such times time(s) and placesplace(s), and to such Persons Person(s) (including Lessor, Mortgagee or any Participant), as Lessor may determinedetermines; or Lessor may otherwise dispose of, hold, use, operate, lease to others others, or keep idle the Airframe and/or or any Engine, as Lessor, in its sole discretion, may shall determine, all free and clear of any rights of Lessee and without any duty to account to Lessee with respect to such action or inaction or for any proceeds with respect thereto, except as hereinafter set forth in this Section (S) 15, and except to the extent that such proceeds would constitute, under applicable Law, a mitigation of Lessor's damages suffered or incurred as a result of the subject Lease Event of Default. Lessor shall give to Lessee at least 15 days days' prior written notice of the date fixed for any public sale of the Airframe and/or or any Engine or of the date on or after which will occur the execution of any contract providing for any private sale.

Appears in 1 contract

Samples: Note Purchase Agreement (Airtran Holdings Inc)

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SALE AND USE. Lessor may sell the Airframe and/or any Engine at public or private sale, at such times and places, and to such Persons (including Lessor, Mortgagee Security Trustee or any Participant), as Lessor may determine; or Lessor may otherwise dispose of, hold, use, operate, lease to others or keep idle the Airframe and/or any Engine, as Lessor, in its sole discretion, may determine, all free and clear of any rights of Lessee and without any duty to account to Lessee with respect to such action or inaction or for any proceeds with respect thereto, except as hereinafter set forth in this Section 15, and except to the extent that such proceeds would constitute, under applicable Law, a mitigation of Lessor's damages suffered or incurred as a result of the subject Lease Event of Default. Lessor shall give Lessee at least 15 days prior written notice of the date fixed for any public sale of the Airframe and/or any Engine or of the date on or after which will occur the execution of any contract providing for any private sale.

Appears in 1 contract

Samples: Lease Agreement (Republic Airways Holdings Inc)

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