Common use of Assignment in Case of Resale or Lease Clause in Contracts

Assignment in Case of Resale or Lease. In the event of the resale or lease of any Aircraft, pursuant to a financing arrangement, by the Buyer before, upon, or after delivery thereof to the Buyer, the Buyer's rights with respect to such Aircraft under this Agreement, other than the Buyer's rights under Clauses 3, 14, 15, 16 and 17 hereof and Letter Agreements hereto, other than Letter Agreement No. 1, may be assigned to the extent necessary to complete the financing on commercially reasonable terms. The Seller will consent to such assignment provided that, prior to such assignment, the Buyer furnishes to the Seller a true copy of such agreement with such purchaser or lessor, clearly stating that such purchaser or lessor acknowledges that it is bound by and will comply with all applicable terms, conditions and limitations of this Agreement.

Appears in 3 contracts

Samples: Letter Agreement (Us Airways Inc), Letter Agreement (Us Airways Inc), Letter Agreement (Us Airways Inc)

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Assignment in Case of Resale or Lease. In the event of the resale or lease of any Aircraft, pursuant to a financing arrangement, by the Buyer before, upon, or after delivery thereof to the Buyer, the Buyer's rights with respect to such Aircraft under this Agreement, other than the Buyer's rights under Clauses 3, 14, 15, 16 and 17 hereof and 110 Letter Agreements hereto, other than Letter Agreement No. 1, may be assigned to the extent necessary to complete the financing on commercially reasonable terms. The Seller will consent to such assignment provided that, prior to such assignment, the Buyer furnishes to the Seller a true copy of such agreement with such purchaser or lessor, clearly stating that such purchaser or lessor acknowledges that it is bound by and will comply with all applicable terms, conditions and limitations of this Agreement.

Appears in 1 contract

Samples: Letter Agreement (Us Airways Inc)

Assignment in Case of Resale or Lease. In the event of the resale or lease of any Aircraft, pursuant to a financing arrangement, by the Buyer immediately before, upon, or immediately after delivery thereof to the Buyer, the Buyer's rights with respect to such Aircraft under this Agreement, other than the Buyer's rights under Clauses 3, 14, 15, 16 and 17 hereof and the Letter Agreements hereto, other than Letter Agreement No. 1, may be assigned to the extent necessary to complete with the financing on commercially reasonable terms. The Seller will Seller's prior written consent to such assignment provided that, prior to the terms and conditions of such assignment, the such consent not to be unreasonably withheld. The Buyer furnishes shall furnish to the Seller a true copy of such agreement with such purchaser or lessor, clearly stating that such purchaser or lessor acknowledges that it is bound by and will comply with all applicable terms, conditions and limitations of this Agreement.

Appears in 1 contract

Samples: Letter Agreement (Midway Airlines Corp)

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Assignment in Case of Resale or Lease. In the event of the resale or lease of any Aircraft, pursuant to a financing arrangement, Aircraft by the Buyer before, upon, or after following delivery thereof to the Buyer, and subject to the delivery to the Seller of reasonable financial guarantees and protections and other terms as the Seller may reasonably require, the Buyer's ’s rights with respect to such Aircraft solely under Clauses 12, 13 and 17 and this Subclause 19.3 of the Agreement, other than the Buyer's rights under Clauses 3, 14, 15, 16 and 17 hereof and Letter Agreements hereto, other than Letter Agreement No. 1, may be assigned shall inure to the extent necessary to complete benefit of such purchaser or lessee, as the financing on commercially reasonable termscase may be. The Seller will consent to such assignment provided that, prior to such assignment, the Buyer furnishes shall furnish to the Seller a true copy of such agreement with such purchaser or lessorlessee, clearly stating that such purchaser or lessor lessee acknowledges that it is bound by and will shall comply with all applicable terms, conditions and limitations of the Agreement. No assignment under this AgreementSubclause 19.3 shall be deemed to increase the Seller’s obligations.

Appears in 1 contract

Samples: Letter Agreement (Delta Air Lines Inc /De/)

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