Engines and APUs Sample Clauses

Engines and APUs. The Initial Determinations for Engines and APUs will be based on the assumptions set forth below, and the Asset Values to be calculated at each of the Closing Determination and Final Determination for Engines and APUs and will be determined as set forth below. i. Such Engine or APU is complete, with all parts and accessories (based on the specified configuration) attached. If such Engine or APU is missing parts and Seller cannot replace such parts, then Buyer may elect to include such Engine or APU as a Reappraisal Item (as such term is defined below) or exclude such Engine or APU from the Included Assets. If Buyer elects to exclude such item, then the Aggregate Asset Value at the Closing Determination and the Final Determination shall not include the Initial Determination with respect to such Engine or APU. ii. Unless otherwise specified on the Tangible Asset List, such Engine or APU is in serviceable condition in accordance with the Company’s maintenance program, including the records and documentation necessary, in all material respects, to operate such assets. If such Engine or APU is not in a serviceable condition (regardless of whether such condition is specified on the Tangible Asset List) and Seller does not promptly take the action necessary to render such Engine or APU serviceable, then Buyer may elect to include such Engine or APU as a Reappraisal Item or exclude such Engine or APU from the Included Assets. If Buyer elects to exclude such item, then the Aggregate Asset Value at the Closing Determination and at the Final Determination shall not include the Initial Determination with respect to such Engine or APU. iii. Such Engine or APU has accumulated the number of cycles specified on the Tangible Asset List (the “Initial Cycles”). For the purposes of the Closing Determination, the total cycles accumulated on such Engine or APU as of the Closing Date will be estimated (the “Final Cycles”). For the purposes of the Closing Determination, (x) the difference between the Initial Cycles and the Final Cycles for such Engine or APU (the “Cycle Change”) will be multiplied by $23.47 in the case of Engines and $13.33 in the case of APUs (the “Cycle Adjustment Amount”) and (y) the Asset Value of such Engine or APU will be decreased by the Cycle Adjustment Amount. If such Engine or APU has incurred a performance restoration (as defined by the engine or APU manufacturer, as applicable) since the determination of the Initial Cycles, then such Engine or APU sha...
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