Eligible Spare Engines definition

Eligible Spare Engines means all of the Spare Engines owned by the Obligors and reflected in the most recent Collateral Value Certificate delivered by the Borrower to the Administrative Agent, except for any Spare Engines that constitute Ineligible Collateral.
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Eligible Spare Engines means those Spare Engines owned by Great Lakes or any of its Subsidiaries in the ordinary course of its business, that comply with each of the covenants, representations and warranties with respect to Spare Engines made in the Loan Documents, and Annex 13 that are not excluded as ineligible by virtue of one or more of the excluding criteria set forth below; provided, however, that such criteria may be revised from time to time by either Agent in such Agent’s Permitted Discretion to address the results of any audit performed by either Agent from time to time after the Closing Date. A Spare Engine shall not be included as an Eligible Aircraft if:
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Examples of Eligible Spare Engines in a sentence

  • The Administrative Agent (directly or via a third party audit firm) shall have conducted a physical examination and appraisal of the Collateral and the Borrower’s and Guarantor’s Spare Parts Inventory and Eligible Spare Engines (including all books and records related thereto) and the results of such examination and appraisal shall be reasonably satisfactory to the Administrative Agent in all respects.

  • The Eligible Assets may from time to time include the property of the types listed on Schedule 2.10 hereto, which schedule shall include, without limitation, (a) Cash and Permitted Cash Equivalents from time to time in the Cash Collateral Account, (b) Eligible Stage III Aircraft, (c) the Maintenance Facility, (d) Eligible Simulators, (e) Eligible Spare Engines and (f) Rotables (collectively, the Collateral identified in clauses (a) through (f) and on Schedule 2.10, the "ELIGIBLE ASSETS").

  • The Eligible Assets may from time to time include the property of the types listed on Schedule 2.10 hereto, which schedule shall include, without limitation, (a) Cash and Permitted Cash Equivalents from time to time in the Cash Collateral Account, (b) Eligible Stage III Aircraft, (c) Eligible Stage II Aircraft, (d) the Hangar, (e) Eligible Simulators, (f) Eligible Spare Engines and (g) Rotables (collectively, the Collateral identified in clauses (a) through (g) and on Schedule 2.10, the "Eligible Assets").

  • Grantor owns and will own legally and beneficially all right, title and interest in and to the Collateral, and holds and will hold good and marketable title to, the Engines and Spare Parts, free of all Liens (other than (x) Permitted Eligible Collateral Liens, in the case of Collateral at any time designated as Eligible Spare Parts or Eligible Spare Engines or (y) Permitted Liens, in the case of other Collateral, Engines, or Spare Parts).

Related to Eligible Spare Engines

  • Eligible Aircraft has the meaning set forth in the second recital to the Note Purchase Agreement.

  • Substitute Aircraft Has the meaning specified in the NPA.

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

  • Replacement Airframe means an Airbus A321 aircraft or a comparable or improved model of Manufacturer (except (a) Engines or engines from time to time installed thereon and any and all Parts related to such Engine or engines and (b) Excluded Equipment), that shall have been made subject to the Lien of the Indenture pursuant to Section 7.05 thereof, together with all Parts relating to such aircraft.

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

  • 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;

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

  • Approved Location means (a) a storage terminal or facility located in the United States or Canada owned by the Borrower or a Subsidiary; or (b) other storage location located in the United States or Canada identified by the Borrower by notice to the Administrative Agent for which, if requested by the Administrative Agent, the Borrower has used commercially reasonable efforts to cause the owner, operator or landlord thereof to execute and deliver, a waiver of lien, subordination agreement or similar agreement in form and substance reasonably acceptable to the Administrative Agent with respect to any inventories of Petroleum Products stored at such terminal or facility.

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

  • Spares means a part or a sub-assembly or assembly for substitution which is ready to replace an identical or similar part or sub-assembly or assembly including a component or an accessory;

  • 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:

  • Rental Equipment means the equipment identified on the Service Agreement and Order Schedule or otherwise notified to you in writing that we will rent to you as part of our provision of the Services and which you will return to us after expiry or termination of the Agreement, subject to the provisions of this Agreement.

  • Spare Parts has the meaning assigned to such term in the Pledge and Security Agreement.

  • Engines means, as of any date of determination, all Engines then leased hereunder.

  • Service Equipment means any equipment, Software, systems, cabling and facilities provided by or on behalf of Verizon and used to facilitate provision of the Services at a Customer Site. Ownership of the Service Equipment does not pass to Customer. Service Equipment does not include Verizon Facilities.

  • Eligible generator means a developer of a base load or mid-

  • Standard equipment means the basic configuration of a vehicle which is equipped with all the features that are required under the regulatory acts of the Contracting Party including all features that are fitted without giving rise to any further specifications on configuration or equipment level.

  • Replacement Engine means a [Engine Manufacturer and Model] engine (or an engine of the same or another manufacturer of a comparable or an improved model and suitable for installation and use on the Airframe with the other Engine (or any other Replacement Engine being substituted simultaneously therewith)) that shall have been made subject to the Lien of the Indenture pursuant to Section 7.04 or Section 7.05 thereof, together with all Parts relating to such engine, but excluding items installed or incorporated in or attached to any such engine from time to time that are excluded from the definition of Parts.

  • Airframe means the Aircraft excluding the Propulsion Systems.

  • Installation Site means the site at which the Product is originally installed.