Lease Event of Default Sample Clauses
Lease Event of Default any one or more of the conditions, circumstances, acts, or events set forth inss. 14 of the Lease. LESSEE: American Trans Air, Inc., an Indiana corporation.
Lease Event of Default. If an event of default (howsoever described) is continuing under a Lease or a Permitted Sub- lease whilst a Lessee or Sub-lessee, as the case may be, is in possession of the Aircraft, the Head Lessee shall promptly notify the Security Trustee of the steps that it is proposing to take to enforce the terms of the Lease or Permitted Sub-lease, as the case may be.
Lease Event of Default. Upon the occurrence and continuation of a Lease Event of Default, pursuant to which a termination payment as set forth in Section 24(d) of the Lease Agreement has become due and payable automatically or with the consent, or at the request, of the Administrative Agent, such Certificate Holder Amounts evidenced by the Certificates (with accrued Equity Return thereon) and all other amounts owing to the Certificate Holders by Trustee under this Trust Agreement, the Certificates and the other Operative Documents shall immediately become due and payable.
Lease Event of Default. If a Lease Event of Default shall occur under an Eligible Lease, Lender shall have the right to require the Borrower to prepay, and the Borrower shall prepay, on a date no later than 180 days from the date of the Lender’s request for such prepayment, the entire then outstanding principal of the relevant Loan, together with interest thereon and all other amounts due the Lender under the Loan Documents to the extent they relate to such relevant Loan (including, but not limited to, Break Costs); provided, however, in respect of any Eligible Lease the Borrower shall have the right to cure two such Lease Events of Default before the Lender shall have the right to require the prepayment provided for herein.
Lease Event of Default. Upon the occurrence and during the continuance of a Reimbursement Event of Default or a Lease Event of Default, all rights of the Pledgor to manage and direct the affairs of the Partnership which it would otherwise be entitled to exercise pursuant to the preceding sentence shall cease, and all such rights shall thereupon become immediately vested in the Security Agent, which shall thereupon have the sole right (subject to the provisions of Applicable Law and the Security Deposit Agreement) to manage and direct the affairs of the Partnership.
Lease Event of Default. The Operating Lessor shall be expressly entitled by the Operating Lease to terminate the leasing of the Aircraft by the Operating Lessee, and to repossess the same, at any time after the expiration of the agreed grace period or remedy period, if any, of the occurrence of certain events, which will be broadly consistent with those set out in Section 15 (Events of Default) of the Model Form Operating Lease, amended mutatis mutandis to reflect the change in Operating Lessee, but in any event including in such events, failure of the concerned Operating Lessee to pay amounts payable by it thereunder or to affect Insurances in accordance with the requirements of the relevant Operating Lease or the bankruptcy of such Operating Lessee. The Operating Lessor may negotiate with the applicable Operating Lessee additional exceptions and qualifications which are consistent with the Standard.
Lease Event of Default. Any Lease Event of Default.
Lease Event of Default. Pursuant to Section 7.11 of the Credit Agreement, Borrowers are prohibited from entering into, as lessee, any lease arrangement for real or personal property (unless capitalized and permitted under Section 7.6 of the Credit Agreement) if after giving effect thereto, the aggregate annual rental payments for all leased property would exceed $250,000 in any one fiscal year. Borrowers informed Agent and the Lenders that for the 2013 fiscal year, Borrowers' aggregate annual rental payment for all leased property exceeds the required limit set forth in Section 7.11 by approximately $38,000. Pursuant to Section 10.5 of the Credit Agreement, an Event of Default has occurred and is continuing by virtue of the Borrower's failure to comply with the covenant contained in Section 7.11 of the Credit Agreement (the "Lease Event of Default");
Lease Event of Default. At any time after the Restructure Agreement Execution Date, if a Lease Event of Default occurs (it being understood that for purposes of this Section 19 a Lease Event of Default pursuant solely to Section 14.6 shall not take effect until the expiration of the applicable cure periods set forth in clauses (i) and (ii) of Section 15.1.7(a) of this Lease (a "15.1.7(a)(i) or (ii) EVENT") and that this Section 19 shall take effect solely as a result of a 15.1.7(a)(i) or (ii) Event only if such default has not been waived prior to the expiration of the applicable cure periods), (a) an amount equal to the excess, if any, of (x) the Basic Rent that would have been payable under this Lease pursuant to Schedule 2 of the Original Lease after January 2, 2003 (which amount shall be determined by reference to Schedule 19 of Amendment No. 1 to Lease Agreement for purposes of this Section 19 instead of Schedule 2 to the Original Lease) over (y) the sum of (i) the Basic Rent that was paid under this Lease pursuant to Schedule 2 to Amendment No. 1 to Lease Agreement after January 2, 2003 up to the date of such Lease Event of Default plus (ii) the aggregate amount, if any, of Enhancement Rent that was paid under this Lease prior to such Lease Event of Default shall become immediately due and payable by Lessee to Lessor on the date that such Lease Event of Default occurs (such amounts payable under clause (a), the "LEASE AMENDMENT DEFAULT AMOUNT"), shall become immediately due and payable by Lessee to Lessor on the date that such Lease Event of Default occurs and (b) regardless of whether any amounts are payable under clause (a) of this paragraph, Basic Rent shall thereafter be payable under this Lease each month in an amount equal to the higher of (A) the amount due under Schedule 19 to Amendment No. 1 to Lease Agreement in such month or (B) the amount due under Schedule 2 to Amendment No.1 to Lease Agreement in such month, and Lessee's obligation to pay Enhancement Rent shall cease. Xxxx the occurrence of a Lease Event of Default, any claim by Lessor for any Termination Value or Stipulated Loss Value payable pursuant to this Lease shall be determined, for any date of determination, by reference to the higher of (A) the Termination Value or Stipulated Loss Value (as the case may be) as set forth in Schedules 3 or 4 (as the case may be) to the Original Lease or (B) the Termination Value or Stipulated Loss Value (as the case may be) as set forth in Schedules 3 or 4 (as the case...
Lease Event of Default. The Lessee acknowledges that, except as otherwise provided in the Fuel Lease, its obligations as set forth under the Fuel Lease are absolute and unconditional. The Lessee will not directly or indirectly create or permit to be created or remain, and will promptly take such action as may be necessary to discharge, any Lien on any Collateral except Permitted Liens.