Common use of Limitation on Aircraft Acquisitions Clause in Contracts

Limitation on Aircraft Acquisitions. The Borrower shall not, and shall not permit any ACS Bermuda Subsidiary to, purchase or otherwise acquire any aircraft other than the Aircraft or any interest therein. Notwithstanding the foregoing, the Borrower may, and may permit any ACS Bermuda Subsidiary to, so long as such acquisition does not result in a Default or a Concentration Default, acquire, as a contribution from a Shareholder an additional aircraft, provided that, the representations and warranties with respect to Aircraft set forth in Section 5.01 hereof shall be made on the date of such acquisition; and provided further that (i) the ACS Group may only acquire aircraft pursuant to this paragraph one time (although more than one aircraft may be acquired at such time), (ii) each such aircraft shall be not more than 15 years old (from the date of manufacture thereof), (iii) the model and variant of each such aircraft is in production as of the date of this Intercreditor Agreement, (iv) each such aircraft shall be subject to a lease with not less than 24 months remaining on the lease terms (which lease term is not subject to cancellation by the lessee) and (v) any lease to which such additional aircraft is subject contains the Core Lease Provisions.

Limitation on Aircraft Acquisitions. The Borrower shall not, and shall not permit any ACS Bermuda Ireland Subsidiary to, purchase or otherwise acquire any aircraft other than the Aircraft or any interest therein. Notwithstanding the foregoing, the Borrower may, and may permit any ACS Bermuda Ireland Subsidiary to, so long as such acquisition does not result in a Default or a Concentration Default, acquire, as a contribution from a Holder of a Class E Security or a Shareholder an additional aircraft, provided that, the representations and warranties with respect to Aircraft set forth in Section 5.01 hereof shall be made on the date of such acquisition; and provided further that (i) the ACS Group may only acquire aircraft pursuant to this paragraph one time (although more than one aircraft may be acquired at such time), (ii) each such aircraft shall be not more than 15 years old (from the date of manufacture thereof), (iii) the model and variant of each such aircraft is in production as of the date of this Intercreditor Agreement, (iv) each such aircraft shall be subject to a lease with not less than 24 months remaining on the lease terms (which lease term is not subject to cancellation by the lessee) and (v) any lease to which such additional aircraft is subject contains the Core Lease Provisions.