Lessee's Right to Assign. The Lessee shall not, and shall have no authority or power to assign, convey or sublease any of its rights under this Lease without the prior written consent of the Lessor except (i) as expressly provided in Section 7.02 hereof, or in the case of any requisition by the Government referred to in Section 7.01 of this Lease, or (ii) to a wholly-owned domestic subsidiary of the Lessee which shall be a certificated U.S. Air Carrier. Any such assignment, conveyance or sublease shall in no way relieve the Lessee from any obligation hereunder or under any other Operative Agreement or any written agreement of the Lessee entered into in connection with the transactions contemplated by the Operative Agreements, which shall be and remain obligations of the Lessee. The Lessor agrees that it will not assign or convey its right, title and interest in and to this Lease or the Aircraft except as contemplated by or provided in this Lease, the Trust Agreement, the Indenture or the Participation Agreement. The terms and provisions of this Lease shall be binding upon and inure to the benefit of the Lessor and the Lessee and their respective successors and permitted assigns, and shall inure, to the extent expressly provided herein and therein, to the direct benefit of, and in accordance with the provisions of the Indenture and the Participation Agreement shall be enforceable by, the Indenture Trustee, the Lessor and their respective successors and permitted assigns.
Appears in 8 contracts
Samples: Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp)
Lessee's Right to Assign. The Lessee shall not, and shall have no authority or power to assign, convey or sublease any of its rights under this Lease without the prior written consent of the Lessor except (i) as expressly provided in Section 7.02 hereof, or in the case of any requisition by the Government referred to in Section 7.01 of this Lease, or (ii) to a wholly-owned domestic subsidiary of the Lessee which shall be a certificated U.S. Air Carrier. Any such assignment, conveyance or sublease shall in no way relieve the Lessee from any obligation hereunder or under any other Operative Agreement or any written agreement of the Lessee entered into in connection with the transactions contemplated by the Operative Agreements, which shall be and remain primary obligations of the Lessee. The Lessor agrees that it will not assign or convey its right, title and interest in and to this Lease or the Aircraft except as contemplated by or provided in this Lease, the Trust Agreement, the Indenture or the Participation Agreement. The terms and provisions of this Lease shall be binding upon and inure to the benefit of the Lessor and the Lessee and their respective successors and permitted assigns, and shall inure, to the extent expressly provided herein and therein, to the direct benefit of, and in accordance with the provisions of the Indenture and the Participation Agreement shall be enforceable by, the Indenture Trustee, the Lessor and their respective successors and permitted assigns.
Appears in 3 contracts
Samples: Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp)
Lessee's Right to Assign. The Lessee shall not, and shall have no authority or power to assign, convey or sublease any of its rights under this Lease without the prior written consent of the Lessor except (i) as expressly provided in Section 7.02 hereof, or in the case of any requisition by the Government referred to in Section 7.01 of this Lease, or (ii) to a wholly-owned domestic subsidiary of the Lessee which shall be a certificated U.S. Air Carrier. Any such assignment, conveyance or sublease shall in no way relieve the Lessee from any obligation hereunder or under any other Operative Agreement or any written agreement of the Lessee entered into in connection with the transactions contemplated by the Operative AgreementsAgreement, which shall be and remain primary obligations of the Lessee. The Lessor agrees that it will not assign or convey its right, title and interest in and to this Lease or the Aircraft except as contemplated by or provided in this Lease, the Trust Agreement, the Indenture or the Participation Agreement. The terms and provisions of this Lease shall be binding upon and inure to the benefit of the Lessor and the Lessee and their respective successors and permitted assigns, and shall inure, to the extent expressly provided herein and therein, to the direct benefit of, and in accordance with the provisions of the Indenture and the Participation Agreement shall be enforceable by, the Indenture Trustee, the Lessor and their respective successors and permitted assigns.
Appears in 3 contracts
Samples: Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp)
Lessee's Right to Assign. The Lessee shall not, and shall have no authority or power to to, assign, convey or sublease any of its rights under this Lease without the prior written consent of the Lessor except (i) as expressly provided in Section 7.02 hereof, or in the case of any requisition by the Government referred to in Section 7.01 of this Lease, or (ii) to a wholly-owned domestic subsidiary of the Lessee which shall be a certificated U.S. Air Carrier. Any such assignment, conveyance or sublease shall in no way relieve the Lessee from any obligation hereunder or under any other Operative Agreement or any written agreement of the Lessee entered into in connection with the transactions contemplated by the Operative Agreements, which shall be and remain obligations of the Lessee. The Lessor agrees that it will not assign or convey its right, title and interest in and to this Lease or the Aircraft except as contemplated by or provided in this Lease, the Trust Agreement, the Indenture or the Participation Agreement. The terms and provisions of this Lease shall be binding upon and inure to the benefit of the Lessor and the Lessee and their respective successors and permitted assigns, and shall inure, to the extent expressly provided herein and therein, to the direct benefit of, and in accordance with the provisions of the Indenture and the Participation Agreement shall be enforceable by, the Indenture Trustee, the Lessor and their respective successors and permitted assigns.
Appears in 2 contracts
Samples: Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp)
Lessee's Right to Assign. The Lessee shall not, and shall have no authority or power to assign, convey or sublease any of its rights under this Lease without the prior written consent of the Lessor except (i) as expressly provided in Section 7.02 hereof, or in the case of any requisition by the Government referred to in Section 7.01 of this Lease, or (ii) to a wholly-owned domestic subsidiary of the Lessee which shall be a certificated U.S. Air Carrier. Any such assignment, conveyance or sublease shall in no way relieve the Lessee from any obligation hereunder or under any other Operative Agreement or any written agreement of the Lessee entered into in connection with the transactions contemplated by the Operative Agreements, which shall be and remain primary obligations of the Lessee. The Lessor agrees that it will not assign or convey its right, title and interest in and to this Lease or the Aircraft except as contemplated by or provided in this Lease, the Trust Agreement, the Indenture or the Participation Agreement. The terms and provisions of this Lease shall be binding upon and inure to the benefit of the Lessor and the Lessee and their respective successors and permitted assigns, and shall inure, to the extent expressly provided herein and therein, to the direct benefit of, and in accordance with the provisions of the Indenture and the Participation Agreement shall be enforceable by, the Indenture Trustee, the Lessor and their respective successors and permitted assigns.
Appears in 1 contract