Civil Reserve Air Fleet Program Sample Clauses

Civil Reserve Air Fleet Program. Transfer or permit any Permitted Sublessee, if required by law to do so, to transfer possession of the Aircraft, Airframe or any Engine to the Government pursuant to the Civil Reserve Air Fleet Program or any similar or substitute programs, so long as such transfer of possession does not continue beyond the end of the Term and so long as Lessee shall (A) promptly notify Lessor upon subjecting the Airframe or any Engine to such program and provide Lessor with the name and address of the appropriate party to whom notice must be given in connection with any repossession of the Aircraft under Section 15.1.1, and (B) promptly notify Lessor upon transferring possession of the Airframe or any Engine to the Government pursuant to such program;
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Civil Reserve Air Fleet Program. Transfer or permit any Permitted Sublessee, if required by law to do so, to transfer possession of the Aircraft, Airframe or any Engine to the Government pursuant to the Civil Reserve Air Fleet Program administered pursuant to Executive Order No. 10999, as amended, or any similar or substitute programs, so long as such transfer of possession does not continue beyond SALE AND LEASE AGREEMENT 19 the end of the Term and so long as Lessee shall (A) promptly notify Lessor upon subjecting the Airframe or any Engine to such program and provide Lessor with the name and address of the appropriate party to whom notice must be given pursuant to Section 16 hereof, and (B) promptly notify Lessor upon transferring possession of the Airframe or any Engine to the Government pursuant to such program;
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Civil Reserve Air Fleet Program. To the extent any of the AFL III Aircraft or any component thereof are leased or under contract to the United States or any agency or instrumentality thereof pursuant to the Civil Reserve Air Fleet Program established pursuant to 10 U.S.C. 9511-13 (as administered pursuant to Executive Order 1268, or any substitute regulation or order), or a similar program, the Lessee shall use its reasonable best efforts to take such actions as the Agent may reasonably request to ensure that the Agent, for the benefit of the Lenders, (i) is a loss payee under any insurance policy or indemnity granted to the Lessee or any of its affiliates by the United States or any agency or instrumentality thereof and/or (ii) has a perfected security interest in the proceeds of any payments made by the United States or any agency or instrumentality thereof pursuant to any such insurance policy or indemnity.
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Civil Reserve Air Fleet Program. LESSEE may subject the Aircraft to the Civil Reserve Air Fleet Program ("CRAF") and transfer possession of the Aircraft to the United States, or any agency or instrumentality thereof, pursuant to CRAF, so long as (i) LESSEE shall promptly notify LESSOR upon subjecting the Aircraft to CRAF and provide LESSOR with the name and address of the appropriate Contracting Officer Representative for the Military Airlift Command of the United States Air Force, (ii) LESSEE shall promptly notify LESSOR of any such transfer, and (iii) the period of such transfer does not extend beyond the end of the Lease Term.
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Civil Reserve Air Fleet Program. Transfer or permit any Permitted Sublessee, if required by law to do so, to transfer possession of the Aircraft, Airframe or any
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Civil Reserve Air Fleet Program. The other provisions of this Lease to the contrary notwithstanding, the Lessee may transfer possession of the Aircraft or any Engine to the United States of America or any other instrumentality or agency thereof as part of the Civil Reserve Air Fleet Program ("CRAF Program") for a period not to extend beyond the end of the Term; provided, that if, at any time during the Term, the Aircraft is called into service by the Government pursuant to the CRAF Program and is not returned or released by the Government on or before the last scheduled day of the Term, the Term shall be extended automatically for up to an additional six months thereafter. The Lessee will promptly notify the Lessor in writing in the event of the requisition for use of the Aircraft under CRAF Program activation by the Government ("Civil Reserve Air Fleet Requisition"). All of the Lessee's obligations under this Lease will continue to the same extent as if such requisition had not occurred. If there is a requisition for use of the Aircraft pursuant to the CRAF Program or CRAF Program activation, there may be substituted for all or any part of the insurance required by ss. 12 insurance provided under 49 U.S.C. ss. 44301 et seq. or Government indemnification; provided, that the Lessee will remain responsible for full compliance with all the provisions of this Lease whether or not Government insurance or Government indemnification satisfies the Lessee's obligations under this Lease. If there is a requisition for use of the Aircraft pursuant to the CRAF Program or CRAF Program activation, there will be no limitation on the geographic area in which the Aircraft may be operated. The Lessee hereby assigns to the Lessor all rights to payment for the Aircraft by the Government under the CRAF Program to secure all the Lessee's obligations to pay Rent and to perform its other obligations under the Operative Agreements. At such time as the Lessor is paid in full for all amounts it is due and owed by the Lessee, the aforesaid assignment shall terminate without further act of the parties and all such amounts owed by the Government under the CRAF Program to the Lessee but paid to the Lessor, which the Lessor has not previously applied to compensate itself for amounts due hereunder from the Lessee, shall be paid to the Lessee. . Each of the following shall constitute an "Event of Default" (whether any such event shall be voluntary or involuntary or come about or be effected by operation of law or pursuant ...
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Civil Reserve Air Fleet Program. Lessee may subject the Aircraft, the Airframe or any Engine to the Civil Reserve Air Fleet Program and transfer possession of the Airframe or any Engine to the United States, or any agency or instrumentality thereof, pursuant to the Civil Reserve Air Fleet Program, so long as (1) Lessee shall promptly notify Lessor upon subjecting the Airframe or any Engine to the Civil Reserve Air Fleet Program and provide Lessor with the name and address of the appropriate Contracting Officer Representative for the Military Airlift Command of the United States Air Force, (2) Lessee shall promptly notify Lessor of any such transfer, and (3) the period of such transfer does not extend beyond the end of the Lease Term. Lessor shall reasonably cooperate with Lessee in Lessee's participation in such program, provided that Lessor shall not be required to provide any such cooperation to the extent such cooperation would have a material adverse effect on Lessor's or any Financing Party's rights hereunder or under any other Operative Document or such cooperation by Lessor is prohibited by the Financing Security Documents. The rights of any Person who receives possession by reason of a transfer permitted by this Section 8 shall be effectively and expressly subject and subordinate to all the terms of this Agreement and each other Operative Document, including the covenants contained in this Section 8 and Section 11 and the rights of Lessor to repossession pursuant to Section 13 and to avoid transfer upon such possession. No sublease, wet lease or other relinquishment or transfer of possession of the Aircraft or Airframe, or any Engine or Part, shall in any way release, discharge or otherwise limit or diminish any of Lessee's obligations to Lessor or any Financing Party (it being agreed that notwithstanding any such sublease or other transfer or relinquishment of possession, Lessee shall continue to be primarily liable and responsible for performance of all of its obligations under this Agreement and each other Operative Document), or constitute a waiver of Lessor's or any Financing Party's rights or remedies hereunder or affect the registration of the Aircraft with the Aviation Authority.
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Civil Reserve Air Fleet Program. 94 16.21 Section 1110.............................................. 95 16.22 Article 2-A of the UCC.................................... 95
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Civil Reserve Air Fleet Program. So long as no Significant Default or Event of Default has occurred and is continuing, the Lessee may subject the Aircraft, the Airframe or an Engine to the Civil Reserve Air Fleet Program and transfer possession of the Airframe or an Engine to the United States government, or any agency or instrumentality thereof, pursuant to the Civil Reserve Air Fleet Program so long as (i) the Lessee shall promptly notify the Lessor upon subjecting the Airframe or an Engine to the Civil Reserve Air Fleet Program and provide the Lessor with a name and address of the appropriate contracting officer representative for the Military Airlift Command of the United States Air Force, (ii) the Lessee shall promptly notify the Lessor of any such transfer and (iii) the period of such transfer does not extend beyond the end of the Term. Except as expressly provided herein, all of the Lessee's obligations under this Agreement shall continue and the Lessee shall remain primarily liable for the performance of all of the terms of this Agreement to the same extent as if the Aircraft had never become subject to such Civil Reserve Air Fleet Program.
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Related to Civil Reserve Air Fleet Program

  • Regulation RR Risk Retention Ford Credit, as Sponsor, and the Depositor agree that (i) Ford Credit will cause the Depositor to, and the Depositor will, retain the Residual Interest on the Closing Date and (ii) Ford Credit will not permit the Depositor to, and the Depositor will not, sell, transfer, finance or hedge the Residual Interest except as permitted by Regulation RR.

  • Standard Hazard and Flood Insurance Policies For each Mortgage Loan (other than a Cooperative Loan), the Master Servicer shall maintain, or cause to be maintained by each Servicer, standard fire and casualty insurance and, where applicable, flood insurance, all in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. It is understood and agreed that such insurance shall be with insurers meeting the eligibility requirements set forth in the applicable Servicing Agreement and that no earthquake or other additional insurance is to be required of any Mortgagor or to be maintained on property acquired in respect of a defaulted loan, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. Pursuant to Section 4.01, any amounts collected by the Master Servicer, or by any Servicer, under any insurance policies maintained pursuant to this Section 9.16 or any Servicing Agreement (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or released to the Mortgagor in accordance with the applicable Servicing Agreement) shall be deposited into the Collection Account, subject to withdrawal pursuant to Section 4.02. Any cost incurred by the Master Servicer or any Servicer in maintaining any such insurance if the Mortgagor defaults in its obligation to do so shall be added to the amount owing under the Mortgage Loan where the terms of the Mortgage Loan so permit; provided, however, that the addition of any such cost shall not be taken into account for purposes of calculating the distributions to be made to Certificateholders and shall be recoverable by the Master Servicer or such Servicer pursuant to Section 4.02.

  • Federal Reserve Regulations; Use of Loan Proceeds Except for the Federal Reserve Form to be executed and delivered by the Borrower, no filing or other action is required under the provisions of Regulations T, U or X in connection with the execution and delivery by the Borrower of this Credit Agreement and neither the making of any Loan in accordance with this Credit Agreement nor the use of the proceeds thereof, will violate or be inconsistent with the provisions of Regulations T, U or X.

  • Standard Hazard Insurance and Flood Insurance Policies (a) For each Mortgage Loan, the Master Servicer shall enforce any obligation of the Servicers under the related Servicing Agreements to maintain or cause to be maintained standard fire and casualty insurance and, where applicable, flood insurance, all in accordance with the provisions of the related Servicing Agreements. It is understood and agreed that such insurance shall be with insurers meeting the eligibility requirements set forth in the applicable Servicing Agreement and that no earthquake or other additional insurance is to be required of any Mortgagor or to be maintained on property acquired in respect of a defaulted loan, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance.

  • Reinsurance Administration THE COMPANY shall perform all duties with respect to the administration of the reinsurance under this Agreement on the portion of the policies reinsured under this Agreement.

  • Deposit of original policies Each Borrower shall ensure that all policies relating to obligatory insurances effected by it are deposited with the approved brokers through which the insurances are effected or renewed.

  • Termination and Replacement of Financial Institution The Financial Institution may terminate its rights and obligations under this Agreement if the Secured Party resigns or is removed as Indenture Trustee under the Indenture. The Grantor may terminate the rights and obligations of the Financial Institution if the Financial Institution ceases to be a Qualified Institution. No termination of the Financial Institution will be effective until new Collateral Accounts are established with, and the cash and other financial assets credited to the Collateral Accounts are transferred to, another securities intermediary who has agreed to accept the obligations of the Financial Institution under this Agreement or a similar agreement.

  • Flood Insurance With respect to each Mortgaged Property, obtain flood insurance in such total amount as the Administrative Agent or the Required Lenders may from time to time reasonably require, if at any time the area in which any improvements located on any Mortgaged Property is designated a “flood hazard area” in any Flood Insurance Rate Map published by the Federal Emergency Management Agency (or any successor agency), and otherwise comply with the National Flood Insurance Program as set forth in the Flood Disaster Protection Act of 1973, as amended from time to time.

  • Initial Reserve Account Deposit On the Closing Date, the Depositor will deposit or cause to be deposited the Specified Reserve Balance into the Reserve Account from the net proceeds of the sale of the Notes.

  • Wall Street Transparency and Accountability Act In connection with Section 739 of the Wall Street Transparency and Accountability Act of 2010 (“WSTAA”), the parties hereby agree that neither the enactment of WSTAA or any regulation under the WSTAA, nor any requirement under WSTAA or an amendment made by WSTAA, shall limit or otherwise impair either party’s otherwise applicable rights to terminate, renegotiate, modify, amend or supplement this Confirmation or the Agreement, as applicable, arising from a termination event, force majeure, illegality, increased costs, regulatory change or similar event under this Confirmation, the Equity Definitions incorporated herein, or the Agreement (including, but not limited to, rights arising from Change in Law, Hedging Disruption, Increased Cost of Hedging, an Excess Ownership Position, or Illegality (as defined in the Agreement)).

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