Common use of Lessor Assignment Clause in Contracts

Lessor Assignment. Lessor may sell, assign or transfer all or any of its rights under the Operative Documents and in the Leased Property (a “Transfer”) and Lessor will, other than in the case of an assignment for security purposes, have no further obligation under the Operative Documents following a Transfer but, notwithstanding any Transfer, will remain entitled to the benefit of each indemnity under this Agreement. (a) In connection with any Transfer, the following conditions shall apply: (i) Lessor shall give Lessee written notice of such Transfer at least 10 Business Days before the date of such Transfer, specifying the name and address of the proposed purchaser, assignee or transferee (the “Transferee”); (ii) the Transferee will either (1) be an Affiliate of Lessor or (2) be a Person reasonably experienced in aircraft leasing (or the Transferee’s rights and powers under this Agreement shall be exercised or serviced on its behalf pursuant to an appropriate management or servicing agreement by a Person having such experience); (iii) the Transferee will have full corporate power and authority to enter into and perform the transactions contemplated by this Agreement on the part of “Lessor”; (iv) such Transfer shall not result in a change of State of Registration (unless otherwise agreed with Xxxxxx);

Lessor Assignment. The Lessor may sell, assign or transfer all or any of its rights under the Operative Documents this Agreement and in the Leased Property Aircraft (a “"Transfer”") and the Lessor will, other than in the case of an assignment for security purposes, have no further obligation under the Operative Documents this Agreement following a Transfer but, notwithstanding any Transfer, will remain entitled to the benefit of each indemnity under this Agreement. (a) a. In connection with any Transfer, the following conditions shall apply: (i) i. Lessor shall give Lessee written notice of such Transfer at least 10 ten Business Days before the date of such Transfer, specifying the name and address of the proposed purchaser, assignee or transferee (the “"Transferee”"); (ii) . the Transferee Transfer will either (1) be an Affiliate of Lessor or (2) be a Person reasonably experienced in aircraft leasing (or not adversely affect the Transferee’s Lessee's rights and powers under interests in the Aircraft and/or this Agreement shall be exercised Agreement, nor subject the Lessee to any Tax or serviced on its behalf pursuant Claim or any other obligation or liability to an appropriate management which it would not have been subject had such assignment or servicing agreement by a Person having such experience)transfer not taken place; (iii) . the Transferee will have full corporate power and authority to enter into and perform the transactions contemplated by this Agreement on the part of “"Lessor”"; (iv) such . on the Transfer date the Lessor and the Transferee shall not result enter into an agreement or agreements in which the Transferee confirms that it shall be deemed a change party to this Agreement and agrees to be bound by all the terms of, and to undertake all of State of Registration (unless otherwise agreed with Xxxxxx)the obligations of, the Lessor contained in this Agreement; v. either