Permitted Aircraft definition

Permitted Aircraft means any aircraft (x) for which the Borrower or any Subsidiary Loan Party has a 100% ownership interest, free and clear of all security interests or liens in favor of any person other than the Collateral Agent except for any Permitted Lien the holder of which has entered into a Recognition of Rights Agreement on or prior to the date that is ten (10) days after any Spare Engines are installed on any such aircraft (or such later date as the Collateral Agent may agree in its sole discretion) or (y) (A) owned by a third party lessor and leased to the Borrower or any Subsidiary Loan Party, where such third party lessor has entered into a Recognition of Rights Agreement on or prior to the date that is ten (10) days after any Spare Engines are installed on any such aircraft (or such later date as the Collateral Agent may agree in its sole discretion) and (B) registered in the United States or in another jurisdiction that is acceptable to the Administrative Agent (in its sole discretion).
Sample 1
Permitted Aircraft means hobbyist, heritage or recreational aircraft, but shall not include:
Sample 1
Permitted Aircraft means either a Permitted Narrow-body Aircraft or a Permitted Wide-body Aircraft.
Sample 1

Examples of Permitted Aircraft in a sentence

  • Upon the occurrence of a Permitted Aircraft Sale or any Permitted Aircraft Deposit, the Companies shall become obligated to effectuate a Mandatory Redemption in accordance with the procedures set forth in Section 5(b) above.

  • On the Mandatory Redemption Notice Due Date, the Companies shall deliver a Mandatory Redemption Notice to the Holder setting forth the Mandatory Redemption Date and the Mandatory Redemption Amount, which Mandatory Redemption Amount in respect of a Permitted Aircraft Sale or Permitted Aircraft Deposit, as applicable, shall be equal to 60% of the proceeds deposited into the Controlled Account from any such Permitted Aircraft Sale or Permitted Aircraft Deposit, as applicable.

  • The remaining 40% of the proceeds from any such Permitted Aircraft Sale or Permitted Aircraft Deposit, as applicable, shall be transferred to an account of the Companies for working capital purposes within three (3) Business Days of the receipt of the funds into the Controlled Account.

  • All proceeds of a Permitted Aircraft Sale or BCI Receivables Collection shall be deposited immediately into the Controlled Account and shall be used to redeem Principal as set forth in accordance with this Section 5(b).

  • To the extent such Permitted Aircraft Modification is not a Removable Aircraft Part, or is a Required Aircraft Alteration or an Original Aircraft Part, and, to the extent a Removable Aircraft Part is not the property of the Owner that is not subject to the Lien of this Security Agreement because of the continuance of an Aircraft Event of Default, the same shall immediately and automatically be and become subject to the Lien of this Security Agreement.

  • Promptly after the end of each fiscal month following July 2005, the Borrower shall deliver a report in form and substance reasonably satisfactory to the Agents and the Tranche C Agent indicating the amount of cash Capital Expenditures (including, without limitation, all Acquisition Deposits outstanding at such time) and Permitted Aircraft Financings that have been consummated through the date of such fiscal month end.

  • A ratio of Funded Debt to Tangible Net Worth (taking into account Permitted Aircraft Disposition Charges (if any)) of not more than 3.75 : 1.00 ("Maximum Leverage Ratio"), measured at the end of each Fiscal Quarter.

  • The Loan Parties will not, and will not permit any Specified Aircraft SPV, to create, incur, assume or suffer to exist any Lien (other than Permitted Aircraft Liens) on the Specified Aircraft other than in favor of the Administrative Agent.

  • Neither any Owner nor any Disclosed Sublessee has granted to any person other than the Collateral Agent an International Interest, national interest, Prospective International Xxxxxxxx, xxxx, xx- registration power of attorney or a de-registration and export request authorization with respect to any Aircraft, Airframe, Engine or Spare Engine other than any Permitted Aircraft Liens.

  • II-1 APPENDIX 3 Applicable Base Value Percentage and Applicable Current Market Value Percentage Permitted Aircraft Type Applicable Base Value Percentage Applicable Current Market Value Percentage B737-700 65 % 70 % B787-10 65 % 70 % E190 65 % 70 % A319 65 % 70 % A350 (all variants) 65 % 70 % All other Permitted Aircraft Types not specifically listed above 70 % 72.5 % App.


More Definitions of Permitted Aircraft

Permitted Aircraft means either a Permitted Narrow-body Aircraft or a Permitted Wide-body Aircraft;
Sample 1

Related to Permitted Aircraft

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

  • Unmanned aircraft means an aircraft that is not:

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

  • Permitted Facility means a facility authorized by the general permit to discharge total nitrogen or

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

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

  • Operation of aircraft means business of transportation by air of passengers, mail, livestock or goods carried on by the owners or lessees or charterers of aircraft, including the sale of tickets for such transportation on behalf of other enterprises, the incidental lease of aircraft and any other activity directly connected with such transportation.

  • 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;

  • large aircraft means an aircraft, classified as an aeroplane with a maximum take-off mass of more than 5 700 kg, or a multi-engined helicopter;

  • Substitute Aircraft Has the meaning specified in the NPA.

  • Unmanned aircraft system means an unmanned aircraft and associated elements (including communication links and the components that control the unmanned air- craft) that are required for the operator to operate safely and efficiently in the national airspace system.’’.

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

  • Fixed wing turbine powered aircraft means an aircraft that:

  • 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.

  • Public aircraft means an aircraft used exclusively in the service of any government or of any political subdivision thereof, including the government of any state, territory, or possession of the United States, or the District of Columbia, but not including any government-owned aircraft engaged in carrying persons or property for commercial purposes.

  • Permitted Installation means the activities and the limits to those activities described in Table 1.1.1 of this Permit.

  • Permitted Asset Sale means any Asset Sale that is permitted under Section 6.8.

  • Special purpose spray adhesive means an aerosol adhesive that meets any of the following definitions:

  • Permitted Assets means any and all properties or assets that are used or useful in a Permitted Business (including Capital Stock in a Person that is a Restricted Subsidiary and Capital Stock in a Person whose primary business is a Permitted Business that shall become a Restricted Subsidiary immediately upon the acquisition of such Capital Stock by the Issuer or by a Restricted Subsidiary, but excluding any other securities).

  • Building, structure, facility, or installation means all of the pollutant-emitting activities which belong to the same industrial grouping, are located on one or more contiguous or adjacent properties, and are under the control of the same person (or persons under common control) except the activities of any vessel. Pollutant-emitting activities shall be considered as part of the same industrial grouping if they belong to the same major group (i.e., which have the same two-digit code) as described in the Standard Industrial Classification Manual, 1972, as amended by the 1977 Supplement (U.S. Government Printing Office stock numbers 4101-0066 and 003-005-00176-0, respectively).

  • Permitted Lessee means any Person to whom Company is permitted to lease the Airframe or any Engine pursuant to Section 7.02(a) of the Indenture and is a party to a Lease.

  • Permitted Lease means a lease permitted under Section 4.02(b) of the Trust Indenture.

  • Permitted Lock-Up Agreement means an agreement between a Person and one or more holders of Voting Shares pursuant to which such holders (each a “Locked-Up Person”) agree to deposit or tender Voting Shares to a Take-Over Bid (the “Lock-Up Bid”) made or to be made by such Person or any of such Person’s Affiliates or Associates or any other Person with which such Person is acting jointly or in concert, provided that:

  • Permitted Amount means, on any date, an amount equal to 3.5 times Adjusted EBITDA as of the most recent fiscal quarter for which financial statements of the Company are internally available immediately preceding such date.

  • Disposal facility means a facility or part of a facility at which hazardous waste is intentionally placed into or on any land or water, and at which waste will remain after closure. The term disposal facility does not include a corrective action management unit into which remediation wastes are placed.

  • Excluded Equipment means, at any date, any equipment or other assets of the Borrower or any Guarantor which is subject to, or secured by, a Capitalized Lease Obligation or a purchase money obligation if and to the extent that (i) a restriction in favor of a Person who is not Holdings or any Restricted Subsidiary of Holdings contained in the agreements or documents granting or governing such Capitalized Lease Obligation or purchase money obligation prohibits, or requires any consent or establishes any other conditions for or would result in the termination of such agreement or document because of an assignment thereof, or a grant of a security interest therein, by the Borrower or any Guarantor and (ii) such restriction relates only to the asset or assets acquired by the Borrower or any Guarantor with the proceeds of such Capitalized Lease Obligation or purchase money obligation and attachments thereto, improvements thereof or substitutions therefor; provided that all proceeds paid or payable to any of the Borrower or any Guarantor from any sale, transfer or assignment or other voluntary or involuntary disposition of such assets and all rights to receive such proceeds shall be included in the Collateral to the extent not otherwise required to be paid to the holder of any Capitalized Lease Obligations or purchase money obligations secured by such assets.