Aircraft Interest definition

Aircraft Interest means (a) the Ownership Interest or Guarantor Ownership Interest in any Person, including without limitation a trust, that owns an ACS Group Aircraft or (b) the Ownership Interest or Guarantor Ownership Interest in any Person that holds, directly or indirectly, the interest referred to in clause (a) above. The acquisition or disposition of all of the Aircraft Interest with respect to an ACS Group Aircraft constitutes, respectively, the acquisition or disposition of that ACS Group Aircraft.
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Aircraft Interest means (a) the Ownership Interest in any Aircraft Owning Entity or (b) the Person that holds, directly or indirectly, the interest referred to in clause (a) of this definition.
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Aircraft Interest means the 12.5% interest in a Cessna XLS aircraft acquired by PMGI Holdings Inc. pursuant to agreements, dated as of December 23, 2004, with NetJets Sales, Inc., NetJets Aviation, Inc. and NetJets Services, Inc.
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Examples of Aircraft Interest in a sentence

  • In addition, the Aircraft Counterparties’ right to seek adequate protection in the event of proposed debtor-in-possession financing by the Debtors that seeks to prime any Aircraft Counterparty’s liens on property of the estates, or to interpose objections to any sale by the Debtors of any property of the estates in which such Aircraft Counterparty has an Aircraft Interest, are reserved, as are all of the Debtors’ rights, remedies and defenses with respect to any such matters.

  • In addition, various other conditions to the transfer of an Aircraft Interest must be satisfied by both the Seller and Airspeed.

  • Whether the rights granted by Owner/Trustee to Petitioner to license, possess, use, and operate Aircraft under the Aircraft Interest Operating Agreement are subject to the New York State and local sales or use tax.Petitioner submitted the following facts as the basis for this Advisory Opinion.Petitioner is organized and headquartered in New York.

  • Further, Owner/Trustee and Petitioner have entered into an Aircraft Interest Operating Agreement granting Petitioner the right to license, possess, use, and operate the Aircraft under Seller’s fractional aircraft ownership program.

  • Both the sealed envelopes shall be placed in an outer envelope which shall also be sealed.

  • Xxxxxx SUPERINTENDENT OF SCHOOLS The Nova Scotia Teachers Union Xxxx Sperdakes Xxxxxx Xxxxx WITNESS PRESIDENT OF NSTU Colchester-East Hants, Cumberland and Pictou Locals of the Nova Scotia Teachers Union X.


More Definitions of Aircraft Interest

Aircraft Interest means fifty percent (50%) or more of either (x) the assets or (y) the issued and outstanding capital stock of Poly-Aero, Inc., a North Carolina corporation.
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Aircraft Interest means (a) the Stock in any Person that owns an Aircraft, including, without limitation, a trust or (b) the Person that holds, directly or indirectly, the interest referred to in clause (a) above. The acquisition or disposition of all of the Aircraft Interests with respect to an Aircraft constitutes, respectively, the acquisition or disposition of that Aircraft.
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Aircraft Interest means DAE's interest in a trust declared by a special purpose vehicle (whose shares are directly or indirectly wholly-owned by DAE) in favor of DAE over an aircraft (including the engines) which is owned (either directly or through an owner trust structure) by such special purpose vehicle and is the subject of a lease, and its rights and benefits in relation thereto (other than certain excluded rights under such lease). The Trustee will appoint DAE as the servicing agent (the "Servicing Agent") to manage the Wakala Portfolio pursuant to the Servicing Agency Agreement. Periodic Distribution Payments The Servicing Agent will be obliged under the Servicing Agency Agreement to maintain two ledger accounts in relation to the relevant Series, a collection account (the "Collection Account") and a reserve account (the "Reserve Account"). All revenues in respect of any Wakala Asset and all installment payments of the profit amount component of the Deferred Sale Price payable pursuant to the terms of each Murabaha Contract (together the "Wakala Portfolio Revenues") will be credited to the Collection Account. On each Payment Business Day immediately preceding each Periodic Distribution Date (each such date being a "Wakala Distribution Determination Date"), the Servicing Agent shall pay into the relevant Transaction Account amounts standing to the credit of the Collection Amount, which is intended to fund an amount equal to the aggregate of the Periodic Distribution Amount payable by the Trustee under the relevant Certificates on the immediately following Periodic Distribution Date (the "Required Amount") and such Required Amount will be applied by the Trustee for such purpose. In the event that the Wakala Portfolio Revenues are greater than the Required Amount, the amount of any excess shall be credited by the Servicing Agent to the Reserve Account. If the amount standing to the credit of the Collection Account on the Wakala Distribution Determination Date is insufficient to fund the Required Amount, the Servicing Agent shall apply amounts standing to the credit of the Reserve Account towards such shortfall, by paying an amount equal to the same into the Transaction Account. If having applied such amounts from the Reserve Account, there remains a shortfall, the Servicing Agent may either:
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Related to Aircraft Interest

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Asset Interest is defined in Section 2.1(b).

  • Aircraft means any machine that can derive support in the atmosphere from the reactions of the air other than the reactions of the air against the earth’s surface;

  • aircraft engines means aircraft engines (other than those used in military, customs or police services) powered by jet propulsion or turbine or piston technology and:

  • Periodic Interest means, with respect to any Payment Date, the periodic interest for such Payment Date as specified in the Series Supplement.

  • Transferred Interest means, at any time of determination, an undivided percentage ownership interest in (i) each and every then outstanding Receivable, (ii) all Related Security with respect to each such Receivable, (iii) all Collections with respect thereto, and (iv) other Proceeds of the foregoing, which undivided ownership interest shall be equal to the Aggregate Percentage Factor at such time, and only at such time (without regard to prior calculations). The Transferred Interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, shall at all times be equal to the Transferred Interest in each other Receivable, together with Related Security, Collections and Proceeds with respect thereto. To the extent that the Transferred Interest shall decrease as a result of a recalculation of the Aggregate Percentage Factor, the Administrative Agent on behalf of the applicable Class Investors shall be considered to have reconveyed to the Transferor an undivided percentage ownership interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, in an amount equal to such decrease such that in each case the Transferred Interest in each Receivable shall be equal to the Transferred Interest in each other Receivable.

  • aircraft type means all aircraft of the same basic design including all modifications thereto except those modifications which result in a change in handling or flight characteristics;

  • Aircraft Mortgage means each Aircraft and Engine mortgage and security agreement entered into by any Borrower in favor of the Agent evidencing the Liens in respect of such Aircraft Collateral that will secure the Obligations, in each case as amended, modified, restated, supplemented or replaced from time to time.

  • New Aircraft Has the meaning specified in the Note Purchase Agreement.

  • aircraft operator means a person that operated at least 729 commercial air transport flights departing from Union airports in the reporting period or, where that person may not be identified, the owner of the aircraft;

  • Receivable Interest means, at any date of determination, an undivided percentage ownership interest in (a) all then outstanding Pool Receivables arising prior to the time of the most recent computation or recomputation of such undivided percentage interest pursuant to Section 1.03, (b) all Related Security with respect to such Pool Receivables and (c) all Collections with respect to, and other proceeds of, such Pool Receivables and Related Security. Each undivided percentage interest shall be computed as C + YR + LR + CAFR +DR NRPB where:

  • Leased Aircraft Has the meaning specified in the third recital to this Trust Supplement.

  • Replacement Aircraft means the Aircraft of which a Replacement Airframe is part.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Current Interest With respect to each Class of Certificates and any Distribution Date, the aggregate amount of interest accrued at the applicable Certificate Interest Rate during the related Accrual Period on the Class Principal Amount or Class Notional Amount, as applicable, of such Class prior to any distributions of principal, allocations of Realized Losses or allocations of Certificate Writedown Amounts prior to such Distribution Date.

  • Airframe means the Aircraft excluding the Propulsion Systems.

  • Certificate Interest means the allocable percentage interest of a Certificate held by a Certificateholder.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Purchased Interest means, at any time, the undivided percentage ownership interest of the Purchasers in: (a) each and every Pool Receivable now existing or hereafter arising, (b) all Related Security with respect to such Pool Receivables and (c) all Collections with respect to, and other proceeds of, such Pool Receivables and Related Security. Such undivided percentage ownership interest shall be computed as:

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Trust Interest means an account owner's interest in the trust created by a participating trust

  • Equipment Note means and includes any equipment notes issued under the Indenture in the form specified in Section 2.01 thereof (as such form may be varied pursuant to the terms of the Indenture) and any Equipment Note issued in exchange therefor or replacement thereof pursuant to Section 2.07 or 2.08 of the Indenture.

  • Retained Interest The meaning set forth in the Trust Agreement.

  • Class C Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

  • Net Interest means interest earned on a prearranged