Common use of Delivery Expiry Date Clause in Contracts

Delivery Expiry Date. Upon Written Notice of the Administrative Agent to the Facility Agent, the Collateral Agent and the Operating Bank that the Borrower or Guarantor, as applicable, is no longer required, pursuant to the terms of the applicable ACS Group Purchase Agreement, to purchase any ACS Group Aircraft (whether by reason of the passing of the Delivery Expiry Date, the exercise by the Borrower of any termination right under that ACS Group Purchase Agreement or otherwise (any such event, a “Non-Delivery Event”)), the Administrative Agent shall direct the Operating Bank in writing to (i) transfer from the Aircraft Purchase Account for each ACS Group Aircraft so affected to the Collections Account (for application in accordance with Section 3.08 hereof) the Net Allocation Amount for such ACS Group Aircraft, (ii) transfer to the Collections Account, an amount equal to the Investment Earnings remaining (if any) in the Aircraft Purchase Account for such ACS Group Aircraft.