Finance Parties obligations The obligations of each Finance Party under the Finance Documents are several. Failure by a Finance Party to perform its obligations under the Finance Documents does not affect the obligations of any other party to the Finance Documents. No Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents.
Finance Parties. 22.1 Procedure for Decision-Making by the Creditors. Consents of the Creditors
22.1.1 The Creditors hereby agree that in the cases expressly stipulated by this Agreement or other Finance Documents the Creditors may exercise their rights under this Agreement or take any actions only subject to availability of the consent of the Majority of Creditors or all Creditors (hereinafter referred to as the “Consent”).
22.1.2 A decision to provide the Consent shall be made by the Creditors through voting, the procedure for which is stipulated by this Article 22.1. In such a case, the provision of Article 91 (Decisions of Meetings) of the Civil Code shall not apply.
22.1.3 In all cases, when the Creditors vote for the purposes of the Finance Documents, a vote of each Creditor is equal to its Pro Rata Share.
22.1.4 The Credit Manager may, upon its own initiative, or shall, upon a request by any Creditor or Borrower, put an issue to a vote and in such a case it shall inform all Creditors (other than the Creditor being the Credit Manager) about an issue being put to a vote (hereinafter referred to as the “Issue Put to a Vote”) through sending of a notice containing a description of such Issue Put to a Vote and any other information, which is necessary in the Credit Manager's opinion (hereinafter referred to as the “Notice about Putting to a Vote”). The Notice about Putting to a Vote shall specify a period for sending to the Creditors notices containing results of voting of each Creditor with regard to the Issues Put to a Vote (hereinafter each of such notices is referred to as the “Notice about the Creditor's Decision"). Such a period may not be less than five Business Days, except for the cases when it follows from the circumstances of the Issues Put to a Vote that the Creditors’ votes are required within a shorter period.
22.1.5 The Notice about the Creditor's Decision shall be signed by the authorized person of the relevant Creditor and shall contain an unambiguous answer of the Creditor with regard to the question whether such Creditor votes for or against granting of the Consent to each of the relevant Issues Put to a Vote. The Credit Manager shall not check powers of the person having signed the Notice about the Creditor's Decision and may presume that such person was authorized, if until the date of sending the relevant Notice about the Creditor's Decision the relevant Creditor did not informed the Credit Manager that such a person is not an authorized representat...
Finance Parties. The Borrower shall from time to time indemnify each Finance Parry in respect of all costs and expenses (including legal fees) incurred in or in connection with the preservation and/or enforcement of any of their respective rights under the Finance Documents.
Finance Parties. (a) Each Lender has an independent right to demand that the Borrowers repay the Facility Outstanding, interest and other payments contemplated by the terms of this Agreement. Except as provided for in this Agreement, each Finance Party has the right to independently enforce its rights under the Finance Documents. At the same time, the Finance Parties shall exercise their rights subject to the provisions of Clause 23 (Finance Parties).
(b) No Finance Party shall be liable for the obligations of another Finance Party under the Finance Documents. In the event that any Lender refuses to grant the Facility on the basis contemplated by Clause 6 (Termination of Lender’s obligations), and also if a Lender violates its obligation to grant the Facility within its Available Commitment, the Facility amount shall be reduced by this Lender’s Available Commitment.
Finance Parties. Each Finance Party agrees that it will not assign, transfer or novate any of its rights, benefits, interests or obligations under any Finance Document, none of which are capable of assignment, transfer or novation except in order to comply with any Applicable Law or as expressly permitted in accordance with the terms of this Agreement.
Finance Parties. Subject as provided in Clause 21.5 (Transfers) until the Senior Discharge Date, no Senior Creditor and no Bridge Creditor will assign, transfer or dispose of any of the Senior Debt or Bridge Debt owing to it or transfer by novation or otherwise any of its rights or obligations under the Senior Finance Documents or Bridge Finance Document to any person.
Finance Parties. The Finance Parties shall not have any independent power to enforce, or have recourse to, any of the Transaction Security or to exercise any rights or powers arising under the Security Documents except through the Security Agent. In relation to the manner of enforcement (apart from the decision or right to commence an enforcement, which shall be in accordance with the other provisions of this Agreement) of the Transaction Security Documents, the Finance Parties and Security Agent will always act on the directions of the Administrative Agent.
Finance Parties. The New Lessor hereby notifies the Lessee that the ["Financing Parties]" for the purposes of the Novated Lease shall be: [insert the names of all relevant Financing Parties].
Finance Parties. Each Lender has an independent right to demand that the Borrower repays the Facility Outstanding, interest and other payments contemplated by the terms of this Agreement. Except as provided for in this Agreement, each Finance Party has the right to independently enforce its rights under the Finance Documents. At the same time, the Finance Parties shall exercise their rights subject to the provisions of Clause 24 (Finance Parties).
Finance Parties. (a) The Lessee undertakes to provide all reasonable assistance to the Lessor Parties and to any Finance Party to enable the Lessor Parties to enter into arrangements to finance or re-finance the Aircraft (financing) at the time and in the manner reasonably required by the Lessor, which may include the assignment, transfer, grant of security or other disposal of their respective interests in the Aircraft Assets.
(b) If, as a consequence of any financing arrangements, the Lessor requires the Lessee to:
(i) amend the Insurances (including, for the avoidance of doubt, increasing the Agreed Value), the Lessee shall make such amendments; and/or
(ii) redeliver the Aircraft on the Expiry Date in a condition (the New Redelivery Condition) which differs from the Redelivery Condition, then provided that the Lessor has provided details of the New Redelivery Condition to the Lessee within six (6) months prior to the Expiry Date:
(A) the Lessee shall redeliver the Aircraft under Clause 21 (Redelivery) in the New Redelivery Condition in place of the Redelivery Condition; and
(B) the Lessor shall pay the Lessee on the Expiry Date an amount equal to the amount by which the cost reasonably incurred by the Lessee in redelivering the Aircraft in that New Redelivery Condition exceeds the cost that would have been reasonably incurred by the Lessee had it instead redelivered the Aircraft in the Redelivery Condition.
(c) The Lessor shall procure that any relevant Finance Party provide to the Lessee a covenant of quiet enjoyment in substantially the same terms as that set out in Clause 8 (Quiet enjoyment).
