Event of Loss With Respect to Aircraft Sample Clauses

Event of Loss With Respect to Aircraft. Upon the occurrence of an Event of Loss with respect to the Aircraft, Lessee shall forthwith (and in any event within 15 days after such occurrence) give Lessor and each Participant written notice of such Event of Loss. On or before the Business Day next preceding the earlier of (i) the 180th day following the date of the occurrence of such Event of Loss, or (ii) 15 days following the receipt of insurance proceeds with respect to such occurrence, Lessee shall pay to Lessor, in the manner and in funds of the type specified in Section 3.5, (A) the Stipulated Loss Value for the Aircraft, (B) all unpaid Basic Rent or Renewal Rent accrued through and including the date of payment of Stipulated Loss Value and (C) (without duplication) any other Rent which is due and payable through and including the date of such payment. Upon payment in full of Stipulated Loss Value and all such accrued Basic or Renewal Rent pursuant hereto, (A) the obligation of Lessee to pay Basic or Renewal Rent due after the date of such payment shall terminate (but Lessee shall remain liable for all payments of Supplemental Rent due through and including the date of such payment of Stipulated Loss Value), (B) the Term for the Aircraft shall end, and (C) Lessor will Transfer to Lessee the Aircraft. Upon compliance by Lessee with all of the terms of this Section 10.1, Lessee will be subrogated to all claims of Lessor, if any, against third parties for damage to or loss of such Airframe and Engines to the extent of the then insured value thereof.
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Event of Loss With Respect to Aircraft. From the Delivery Date of the Aircraft until the return thereof to Lessor in compliance with the requirements of Article 13 hereof, Lessee shall bear all risks of loss or damage to the Aircraft, no matter how occasioned and from every source or cause whatsoever. Upon the occurrence of an Event of Loss with respect to the Airframe or the Airframe and any Engines or engines then installed thereon, Lessee shall give Lessor prompt written notice thereof and shall pay or cause to be paid to Lessor within ninety (90) days of such Event of Loss all Basic Rent payments payable for the Aircraft (and all other accrued and unpaid Rent) through the date of such payment, together with the Stipulated Loss Value of the Aircraft, computed as of the Basic Rent payment date immediately preceding such Event of Loss. At such time as Lessor has received the foregoing sums: (A) the obligation of Lessee to pay Basic Rent hereunder shall terminate, (B) the Term for the Aircraft shall end, and (C) Lessor will transfer or cause to be transferred to Lessee (or to the relevant insurers, as the case may be), without representation, recourse or warranty of any kind, express or implied (except a warranty that the Aircraft is free of Liens other than Liens which Lessee is required to discharge hereunder, or defects in title resulting from Lessor's acts), all of Lessor's right, title and interest, if any, in and to the Aircraft.
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Event of Loss With Respect to Aircraft. (i) Upon the occurrence of an Event of Loss with respect to any Airframe, and any Engine or Engines installed thereon at the time of such Event of Loss, the Borrower shall promptly (and in any event within 10 Business Days after such occurrence) give the Security Trustee written notice of such Event of Loss. The Borrower shall not have the right to replace any Airframe in case of an occurrence of an Event of Loss with respect to such Airframe with a Replacement Airframe.
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Event of Loss With Respect to Aircraft. From the time of delivery of the Aircraft to Lessee hereunder until the return of the Aircraft to Lessor in compliance with the requirements of Article 13 hereof, Lessee shall bear all risks of loss or damage to the Aircraft, no matter how occasioned and from every source or cause whatsoever. Upon the occurrence of an Event of Loss with respect to the Airframe or the Airframe and any Engines or engines then installed thereon, Lessee shall give Lessor prompt written notice thereof and shall pay or cause to be paid to Lessor within ninety (90) days of such Event of Loss all Basic Rent payments payable for the Aircraft (and all other accrued and unpaid Rent) through the date of such payment, together with the Stipulated Loss Value of the Aircraft, computed as of the Basic Rent payment date immediately preceding such Event of Loss. At such time as Lessor has received the foregoing sums:
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Event of Loss With Respect to Aircraft. The Grantor bears the entire risk of loss, theft, damage or destruction of the Equipment, in whole or in part for any reason whatsoever. No Event of Loss shall relieve the Grantor from its agreement and liability to pay the Obligations or from any other obligation hereunder or under the other Loan Documents. Upon the occurrence of an Event of Loss in excess of $250,000 with respect to any Aircraft, the Grantor shall give the Agent prompt written notice thereof (and in any event within three Business Days after such occurrence), and the Grantor shall, on the next Business Day following the receipt of insurance proceeds with respect to such occurrence, pay to the Agent, for the benefit of the Lenders, the full amount of such insurance proceeds, which shall be applied by Agent to the Revolving Loans, if any, then outstanding under the Credit Agreement (it being understood and agreed that (i) such amounts shall be available for reborrowing on the terms provided in the Credit Agreement, and (ii) in the event such insurance proceeds do not represent the full value attributed to such Aircraft in the calculation of the Borrowing Base, Grantor may be required under the Credit Agreement to pay additional sums to reduce the outstanding balance of the Revolving Loans in order to maintain compliance with the Borrowing Base provisions of the Credit Agreement).
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Event of Loss With Respect to Aircraft. Upon the occurrence of an Event of Loss with res pect to the Aircraft, Lessee shall forthwith (and, in any event, within two (2) Business Days after such occurrence) give Lessor written notice of such Event of Loss and shall pay to Lessor on the sixtieth (60th) day following the occurrence of such Event of Loss or, if the insurance or other proceeds have been paid for such Event of Loss before such 60th day, upon receipt of such proceeds, the Stipulated Loss Value and all other sums (if any) then due and payable hereunder by Lessee to Lessor; provided further that during the period from the occurrence of such an Event of Loss and ending on the date that Lessee complies with its obligations under this Clause 11.1 the Lease Term shall continue and, therefore, the Aircraft shall be deemed to be continued to be leased by Lessor to Lessee hereunder and Lessee shall continue to pay Rent in accordance with Clause 4.
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Event of Loss With Respect to Aircraft. (i) Upon the occurrence of an Event of Loss with respect to the Airframe, and any Engine or Engines installed thereon at the time of such Event of Loss, Borrower shall promptly (and in any event within 10 Business Days after such occurrence) give Security Trustee written notice of such Event of Loss. Within 45 days after such occurrence, Borrower shall give Security Trustee written notice of Borrower's election to make payment in respect of such Event of Loss, as provided in Section 3.4(c), or to replace the Airframe, and any such Engines, as provided in Section 3.4(c).
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Event of Loss With Respect to Aircraft. Upon the occurrence of an Event of Loss with respect to the Aircraft, Lessee shall forthwith (and, in any event, within two (2) Business Days after such occurrence) give Lessor written notice of such Event of Loss and shall pay to Lessor on the sixtieth (60th) day following the occurrence of such Event of Loss or, if the insurance or other proceeds have been paid for such Event of Loss before such 60th day, upon receipt of such proceeds, the Stipulated Loss Value and all other sums (if any) then due and payable hereunder by Lessee to Lessor; provided further that during the period from the occurrence of such an Event of Loss and ending on the date that Lessee complies with its obligations under this Clause 11.1 the Lease Term shall continue and, therefore, the Aircraft shall be deemed to be continued to be leased by Lessor to Lessee hereunder and Lessee shall continue to pay Rent in accordance with Clause 4. At such time as Lessor shall have been fully compensated as required under this Clause 11.1, Lessor shall transfer to Lessee or to Lessee's designee, on an "as-is, where-is" basis but otherwise without recourse or warranty except that such title shall be free and clear of all Lessor Liens, all of such rights, title and interest as Lessor may have in and to the Aircraft, as well as all of Lessor's right, title and interest in and to any Engine constituting part of the Aircraft but not installed thereon at the time of loss, free and clear of Lessor Liens, and Lessor shall, at Lessee's expense, execute and deliver such bills of sale and other documents and instruments as Lessee shall reasonably request to evidence (on the public record or otherwise) such transfer and the vesting of such right, title and interest in and to the Aircraft in Lessee. On compliance by Lessor of its obligations under this Clause 11.1 the Lease Term shall be deemed to terminate and Lessee shall thereupon no longer be obliged to pay Rent in respect of the Aircraft pursuant to Clause 4.
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Event of Loss With Respect to Aircraft 
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Related to Event of Loss With Respect to Aircraft

  • Event of Loss with Respect to an Engine Upon the occurrence of an Event of Loss with respect to an Engine under circumstances in which there has not occurred an Event of Loss with respect to the Airframe, Lessee shall forthwith (and in any event, within fifteen days after such occurrence) give Lessor written notice thereof and shall, within one hundred twenty (120) days after the occurrence of such Event of Loss, convey or cause to be conveyed to Lessor, as replacement for the Engine with respect to which such Event of Loss occurred, title to an Acceptable Alternate Engine. Prior to or at the time of any such conveyance, Lessee, at its own expense, will (i) furnish Lessor with a warranty (as to title) xxxx of sale, in form and substance reasonably satisfactory to Lessor, with respect to such Acceptable Alternate Engine, (ii) cause a Lease Supplement and Trust Supplement to be duly executed by Lessee and to be filed for recording pursuant to the Transportation Code, or the applicable laws, rules and regulations of any other jurisdiction in which the Airframe may then be registered as permitted by Section 7(d) of the Participation Agreement, (iii) furnish Lessor with such evidence of compliance with the insurance provisions of Section 11 hereof with respect to such replacement engine as Lessor may reasonably request and furnish Lessor with copies of the documentation required to be provided by Lessee pursuant to Section 5.06 of the Trust Indenture, and Lessor will comply with the terms of the Trust Indenture and transfer to or at the direction of Lessee without recourse or warranty (except as to absence of Lessor Liens) all of Lessor's right, title and interest, if any, in and to (A) the Engine with respect to which such Event of Loss occurred and furnish to or at the direction of Lessee a xxxx of sale in form and substance reasonably satisfactory to Lessee, evidencing such transfer and (B) all claims, if any, against third parties, for damage to or loss of the Engine subject to such Event of Loss, and such Engine shall thereupon cease to be the Engine leased hereunder. For all purposes hereof, each such replacement engine shall, after such conveyance, be deemed part of the property leased hereunder, and shall be deemed an "Engine". No Event of Loss with respect to an Engine under the circumstances contemplated by the terms of this paragraph (b) shall result in any reduction in Basic Rent.

  • Special Covenants With Respect to Equipment and Inventory Each Grantor shall:

  • Payments With Respect to Shared-Loss Assets (i) For purposes of this Section 2.1(b), the Assuming Bank shall initially record the Shared-Loss Assets on its Accounting Records at Book Value, and initially record the Shared Loss MTM Assets on its Accounting Records at Fair Value, and adjust such amounts as such values may change after the Bank Closing. If the amount of all Net Charge-Offs during any Shared-Loss Quarter plus Reimbursable Expenses, plus MTM Net Realized Gain or MTM Net Realized Loss, plus OTTI Loss during such Shared-Loss Quarter (the “Shared-Loss Amount”) is positive, then, except as provided in Sections 2.1(c) and (e) below, and subject to the provisions of Section 2.1(b)(vi) below, not later than fifteen (15) days after the date on which the Receiver receives the Quarterly Certificate with respect to such Shared-Loss Quarter, the Receiver shall pay to the Assuming Bank an amount equal to eighty percent (80%) of the Shared-Loss Amount for such Shared-Loss Quarter. If the Shared-Loss Amount during any Shared-Loss Quarter is negative, the Assuming Bank shall pay to the Receiver an amount equal to eighty percent (80%) of the Shared-Loss Amount for such Shared-Loss Quarter, which payment shall be delivered to the Receiver together with the Quarterly Certificate for such Shared-Loss Quarter. When the cumulative Shared-Loss Amounts for all Shared-Loss Quarters plus the Cumulative Loss Amount under the Single Family Shared-Loss Agreement equals or exceeds the Stated Threshold, the Receiver shall pay to the Assuming Bank an amount equal to ninety-five percent ((95%) of the Shared-Loss Amount for each Shared-Loss Quarter, until such time as the cumulative Shared-Loss Amount for all Shared-Loss Quarters is less than the Stated Threshold, when the percentage shall revert back to eighty percent (80%).

  • Prior Notice to Owners with Respect to Certain Matters Subject to the provisions and limitations of Section 4.04, with respect to the following matters, the Owner Trustee shall not take action unless at least 30 days before the taking of such action, the Owner Trustee shall have notified the Certificateholders in writing of the proposed action and the Owners shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that such Owners have withheld consent or provided alternative direction:

  • No Event of Loss No Event of Loss with respect to the Airframe or any Engine shall have occurred and no circumstance, condition, act or event that, with the giving of notice or lapse of time or both, would give rise to or constitute an Event of Loss with respect to the Airframe or any Engine shall have occurred.

  • Actions with Respect to Defaults In addition to Agent’s right to take actions on its own accord as permitted under this Agreement, Agent shall take such action with respect to an Event of Default as shall be directed by the Required Lenders. Until Agent shall have received such directions, Agent may act or not act as it deems advisable and in the best interests of the Lenders.

  • COLLECTION OF PAYMENTS WITH RESPECT TO THE MORTGAGE LOANS The Indenture Trustee shall establish and maintain with itself the Note Payment Account in which the Indenture Trustee shall, subject to the terms of this paragraph, deposit, on the same day as it is received from the Servicer, each remittance received by the Indenture Trustee with respect to the Mortgage Loans. The Indenture Trustee shall make all payments of principal of and interest on the Notes, subject to Section 3.03 as provided in Section 3.05 herein from monies on deposit in the Note Payment Account.

  • Event of Loss Grantor shall at its expense promptly repair all repairable damage to any tangible Collateral. In the event that any tangible Collateral is damaged beyond repair, lost, totally destroyed or confiscated (an "Event of Loss") and such Collateral had a value prior to such Event of Loss of $25,000.00 or more, then, on or before the first to occur of (i) 90 days after the occurrence of such Event of Loss, or (ii) 10 Business Days after the date on which either Grantor or MLBFS shall receive any proceeds of insurance on account of such Event of Loss, or any underwriter of insurance on such tangible Collateral shall advise either Grantor or MLBFS that it disclaims liability in respect of such Event of Loss, Grantor shall, at Grantor's option, either replace the Collateral subject to such Event of Loss with comparable Collateral free of all liens other than Permitted Liens (in which event Grantor shall be entitled to utilize the proceeds of insurance on account of such Event of Loss for such purpose, and may retain any excess proceeds of such insurance), or pay to MLBFS on account of the Obligations an amount equal to the actual cash value of such Collateral as determined by either the applicable insurance company's payment (plus any applicable deductible) or, in absence of insurance company payment, as reasonably determined by MLBFS. Notwithstanding the foregoing, if at the time of occurrence of such Event of Loss or any time thereafter prior to replacement or payment, as aforesaid, an Event of Default shall have occurred and be continuing hereunder, then MLBFS may at its sole option, exercisable at any time while such Event of Default shall be continuing, require Grantor to either replace such Collateral or make a payment on account of the Obligations, as aforesaid.

  • Payments and Credits with Respect to the Cash Accounts The Custodian shall make payments from or deposits to any of the cash accounts in the course of carrying out its administrative duties, including but not limited to income collection with respect to Investments, and otherwise in accordance with Instructions. The Custodian and its Sub-custodians shall be required to credit amounts to the cash accounts only when moneys are actually received in cleared funds in accordance with banking practice in the country and currency of deposit. Any credit made to any Principal or Agency Account or any other Fund account before actual receipt of cleared funds shall be provisional and may be reversed by the Custodian or its Sub-custodian in the event such payment is not actually collected. Unless otherwise specifically agreed in writing by the Custodian or any Sub-custodian, all deposits shall be payable only at the branch of the Custodian or Sub-custodian where the deposit is made or carried.

  • Other Agreements with Respect to Indemnification The provisions of this Section shall not affect any agreement among the Company and the Selling Shareholders with respect to indemnification.

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