Pledged Spare Parts definition

Pledged Spare Parts means, as of any date, the Eligible Spare Parts included in the Collateral as of such date.

Pledged Spare Parts has the meaning set forth in clause (a) of the first paragraph of Section 2.01 of the Mortgage.

Pledged Spare Parts means the Pledged Expendable Parts, Pledged Key Repairables and Pledged Rotables.

Examples of Pledged Spare Parts in a sentence

• It is the intention of the parties to this Agreement that all Pledged Spare Parts be "spare parts" as defined in Section 40102(a)(38) of Title 49 of the United States Code.

• The Company will carry or cause to be carried at all times, at no expense to any Secured Party, with Approved Insurers property insurance covering the Designated Locations where any Pledged Spare Parts shall be located.

• The Company will carry or cause to be carried at all times, at no expense to any Additional Insured, third party liability insurance with respect to the Pledged Spare Parts, which is (i) of an amount and scope as may be customarily maintained by the Company for equipment similar to the Pledged Spare Parts and (ii) maintained in effect with insurers of nationally or internationally recognized responsibility (such insurers being referred to herein as “Approved Insurers”).

• No Person holds any right or interest in any of the Pledged Spare Parts under the Spare Parts Security Agreement by virtue of any interest that such person may have in real property or improvements at any of the Designated Locations (as defined therein).

• In addition, the Grantors may modify or alter any Pledged Spare Parts as the Grantors may deem appropriate in the proper conduct of their business, so long as the Grantors remain in compliance at all times with the requirements of Section 2.06(c)(iii) below, after giving effect to any such modification or alteration.

More Definitions of Pledged Spare Parts

Pledged Spare Parts has the meaning set forth in clause (1) of the first paragraph of Section 2.01 of the Security Agreement.

Pledged Spare Parts means the Spare Parts included in the Collateral.

Pledged Spare Parts has the meaning specified in the Spare Parts Mortgage and Security Agreement.

Pledged Spare Parts shall have the meaning given to it in the Pledge and Security Agreement.

Pledged Spare Parts means Spare Parts which are maintained by or on behalf of the Borrower or any Guarantor at a Spare Parts Location.

Pledged Spare Parts. Has the meaning assigned to such term in the Indenture.

Pledged Spare Parts shall have the meaning set forth in the Spare Parts Security Agreement.