Events of Loss; Governmental Authorities Sample Clauses

Events of Loss; Governmental Authorities. As used herein, “Event of Loss” means, with respect to the Airframe or an Engine, any of the following events: (i) loss of such Airframe or Engine or of the use thereof due to the destruction of or damage to such Airframe or Engine to such extent as shall render repair thereof uneconomical, provided that such repair shall not be deemed uneconomical if the proceeds of insurance with respect to such damage or destruction (plus any applicable amounts of deductibles) shall be in an amount at least equal to the cost of such repair; (ii) any damage to such Airframe or Engine which results in an insurance settlement with respect to such Airframe or Engine on the basis of a total loss or a constructive or compromised total loss; (iii) the disappearance of such Airframe or Engine which shall have resulted in the loss of possession of such Airframe or Engine by the Grantor for a period of five (5) consecutive days; (iv) the theft of such Airframe or Engine which shall have resulted in the loss of Airframe or Engine by the Grantor for five (5) consecutive days; (v) the requisition of title, confiscation or seizure of such Airframe or Engine by any Governmental Authority for a period of thirty (30) consecutive days; (vi) as a result of any requirement by the FAA or other Governmental Authority, the use of such Airframe or Engine in the normal course of interstate air transportation shall be prohibited unless, prior to the expiration of such period, the Grantor shall have undertaken and shall be diligently carrying forward all steps which are necessary or desirable to permit the normal use of such Airframe or Engine, or, in any event, if such use shall have been prohibited for a period of 360 days; (vii) the operation or location of such Airframe or Engine in any area excluded from coverage by the insurance policies in effect with respect thereto required by the terms of Section 3.5; or (viii) any other event resulting in such Airframe or Engine being rendered unfit for normal use for any reason whatsoever for more than sixty (60) consecutive days. An Event of Loss with respect to an Aircraft shall be deemed to have occurred if an Event of Loss occurs with respect to the Airframe which constitutes a part of such Aircraft. Upon the occurrence of an Event of Loss, the provisions of this Section 3.6 shall apply, govern and control.
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Events of Loss; Governmental Authorities. Upon the occurrence of an Event of Loss, the provisions of this Section 12 shall apply, govern and control.
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Related to Events of Loss; Governmental Authorities

  • Governmental Authorities From the date of this Agreement and until the End Date, the Company shall duly observe and conform in all material respects to all valid requirements of governmental authorities relating to the conduct of its business or to its properties or assets.

  • Approvals of Governmental Authorities The Governmental Approvals listed in Schedule 11.01(b) shall have been received (or any waiting period shall have expired or shall have been terminated) and shall be in full force and effect.

  • Consents and Approvals of Governmental Authorities No consent, approval, or authorization of, or declaration, filing, or registration with, any governmental or regulatory authority is required to be made or obtained by the Seller in connection with the execution, delivery, and performance of this Agreement or any of the other Acquisition Documents by the Seller.

  • Approvals of Governmental Bodies As promptly as practicable after the date of this Agreement, Buyer will, and will cause each of its Related Persons to, make all filings required by Legal Requirements to be made by them to consummate the Contemplated Transactions (including all filings under the HSR Act). Between the date of this Agreement and the Closing Date, Buyer will, and will cause each Related Person to, cooperate with Sellers with respect to all filings that Sellers are required by Legal Requirements to make in connection with the Contemplated Transactions, and (ii) cooperate with Sellers in obtaining all consents identified in Part 3.2 of the Disclosure Letter; provided that this Agreement will not require Buyer to dispose of or make any change in any portion of its business or to incur any other burden to obtain a Governmental Authorization.

  • Governmental Authorities and Consents Buyer is not required to submit any notice, report or other filing with any governmental authority in connection with the execution or delivery by it of this Agreement or the consummation of the Transaction and no consent, approval or authorization of any governmental or regulatory authority is required to be obtained by Buyer in connection with the execution and delivery of this Agreement or the consummation of the Transaction.

  • Authorization of Governmental Authorities No action by (including any authorization, consent or approval), in respect of, or filing with, any governmental authority or regulatory body is required for, or in connection with, the valid and lawful authorization, execution, delivery and performance by it of this Agreement, subject to, in the case of the Debtors, the entry by the Bankruptcy Court of the Approval Order.

  • Compliance; Governmental Authorizations The Seller has complied in all material respects with all applicable Federal, state, local or foreign laws, ordinances, regulations and orders. The Seller has all Federal, state, local and foreign governmental licenses and permits necessary in the conduct of the Subject Business the lack of which would have a material adverse effect on the Buyer's ability to operate the Subject Business after the Closing on substantially the same basis as presently operated, such licenses and permits are in full force and effect, no violations are or have been recorded in respect of any thereof and no proceeding is pending or threatened to revoke or limit any thereof. None of such licenses and permits shall be affected in any material respect by the transactions contemplated hereby.

  • Compliance with Legal Requirements; Governmental Authorizations (a) Except as set forth in Schedule 3.14:

  • Compliance with Laws; Governmental Authorizations 1.23.1 The Company is, and has at all times been, in compliance materially with all applicable Laws, except where non-compliance could not reasonably be expected to result in Material Adverse Effect. The Company has not received any notice or other communication from any Governmental Body or any other Person regarding (i) any actual, alleged, possible or potential material violation of, or failure to materially comply with, any Law; or (ii) any actual, alleged, possible or potential obligation on the part of the Company to undertake, or to bear all or any portion of the cost of, any cleanup or any remedial, corrective or response action of any nature under any applicable Law. The Company has provided to the Buyer a true, correct and complete copy of each report, study, survey or other document to which the Company has access that addresses or otherwise relates to the compliance of the Company with, or the applicability to the Company of, any Laws. To the knowledge of the Vendor, no Governmental Body has proposed or is considering any Law that, if adopted or otherwise put into effect, (A) may have an adverse effect on the business, condition, assets, liabilities, operations, financial performance, net income or prospects of the Company or on the ability of the Company to comply with or perform any covenant or obligation under any of ancillary documents contemplated by this Agreement; or (B) may have the effect of preventing, delaying, making illegal or otherwise interfering with the transactions contemplated by this Agreement.

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