Loss Destruction or Requisition. (a) Event of Loss with Respect to the Airframe. Upon the occurrence of an Event of Loss with respect to the Airframe or the Airframe and the Engines then installed thereon, the Company shall as promptly as practicable (and, in any event, within 15 days after such occurrence) give the Loan Trustee written notice of such Event of Loss, and, within 90 days after such Event of Loss, the Company shall give the Loan Trustee written notice of its election to perform one of the following options (it being agreed that if the Company shall not have given such notice of election within such 90-day period, the Company shall be deemed to have elected to perform the option set forth in the following clause (ii)). The Company may elect either to:
(i) on or before the Loss Payment Date (as defined below), substitute, as replacement for the Airframe or Airframe and Engines with respect to which an Event of Loss has occurred, a Replacement Airframe (together with a number of Replacement Engines equal to the number of Engines, if any, with respect to which the Event of Loss occurred), such Replacement Airframe and Replacement Engines to be owned by the Company free and clear of all Liens (other than Permitted Liens); provided that if the Company shall not perform its obligation to effect such substitution under this clause (i) on or prior to the Loss Payment Date, then the Company shall on the Loss Payment Date redeem the Equipment Notes in full in accordance with Section 2.10; or
(ii) on or before the Loss Payment Date, redeem the Equipment Notes in full in accordance with Section 2.10. The Company shall give the Loan Trustee 20 days prior written notice if it elects to redeem the Equipment Notes on any day prior to the Loss Payment Date.
Loss Destruction or Requisition. Event of Loss with Respect to the Airframe. Upon the occurrence of an Event of Loss with respect to the Airframe or the Airframe and the Engines then installed thereon, the Company shall as promptly as practicable (and, in any event, within 15 days after such occurrence) give the Loan Trustee written notice of such Event of Loss, and, within 90 days after such Event of Loss, the Company shall give the Loan Trustee written notice of its election to perform one of the following options (it being agreed that if the Company shall not have given such notice of election within such 90-day period, the Company shall be deemed to have elected to perform the option set forth in the following clause (ii)). The Company may elect either to:
Loss Destruction or Requisition. (a) [Reserved].
(b) Event of Loss with Respect to any such Spare Engine. Upon the occurrence of an Event of Loss with respect to any such Spare Engine, the Grantor shall give the Trustee prompt written notice thereof within 15 days after the Grantor has determined that an Event of Loss has occurred with respect to such Spare Engine and shall, within 120 days after the occurrence of such Event of Loss, cause to be subjected to the Lien of this Spare Engine Security Agreement, as replacement for the Engine with respect to which such Event of Loss occurred, a Replacement Spare Engine free and clear of all Liens (other than Permitted Liens). Prior to or at the time of any replacement under this Section 6.04(b), the Grantor will (i) cause a Spare Engine Security Agreement Supplement covering such Replacement Spare Engine to be delivered to the Trustee for execution and, upon such execution, to be filed for recordation pursuant to the Transportation Code, (ii) furnish the Trustee with a copy of the original xxxx of sale or, if the xxxx of sale is unavailable, other evidence of ownership reasonably satisfactory to the Trustee (which may be a copy of an invoice or purchase order) respecting such Replacement Spare Engine, (iii) cause the sale of such Replacement Spare Engine to the Grantor (if occurring after February 28, 2006 and if the seller of such Replacement Spare Engine is “situated in” a country that has ratified the Cape Town Convention) and the International Interest created pursuant to such Spare Engine Security Agreement Supplement in favor of the Trustee with respect to such Replacement Spare Engine, to be registered on the International Registry as a sale or an International Interest; provided that if the seller of such Replacement Spare Engine is not situated in a country that has ratified the Cape Town Convention, the Grantor will use its reasonable efforts to cause the seller to register the contract of sale on the International Registry, (iv) cause a financing statement or statements with respect to such Replacement Spare Engine or other requisite documents or instruments to be filed in such place or places as necessary in order to perfect the Trustee’s interest therein in the United States, (v) furnish the Trustee with an opinion of the Grantor’s counsel (which may be the Grantor’s General Counsel or such other internal counsel to the Grantor as shall be reasonably satisfactory to the Trustee) addressed to the Trustee to the effect that, upon suc...
Loss Destruction or Requisition. (a) Event of Loss With Respect to the Airframe. Upon the occurrence of an Event of Loss with respect to the Airframe, the Owner shall promptly (and in any event within 15 days after such occurrence) give the Mortgagee written notice of such Event of Loss. The Owner shall, within 45 days after such occurrence, give the Mortgagee written notice of Owner's election to either replace the Airframe as provided under Section 4.05(a)(i) or to make payment in respect of such Event of Loss as
Loss Destruction or Requisition. (a) Event of Loss with Respect to the Airframe. Upon the occurrence of an Event of Loss with respect to the Airframe or the Airframe and the Engines then installed thereon, (x) the Company shall, as promptly as practicable, give the Loan Trustee written notice of such Event of Loss and (y) within 90 days after such Event of Loss, the Company shall give the Loan Trustee written notice of its election to perform one of the following options (it being agreed that if the Company shall not have given such notice of election within such 90-day period, the Company shall be deemed to have elected to perform the option set forth in the following clause (ii)). The Company may elect either to:
(i) on or before the Loss Payment Date (as defined below), substitute, as replacement for the Airframe or Airframe and Engines with respect to which an Event of Loss has occurred, a Replacement Airframe (together with a number of Replacement Engines equal to the number of Engines, if any, with respect to which the Event of Loss occurred), such Replacement Airframe and Replacement Engines to be owned by the Company free and clear of all Liens (other than Permitted Liens); provided that if the Company shall not perform its obligation to effect such substitution under this clause (i) on or prior to the Loss Payment Date, then the Company shall on the Loss Payment Date redeem the Equipment Notes in full in accordance with Section 2.10; or
Loss Destruction or Requisition. (a) TOTAL LOSS WITH RESPECT TO THE AIRFRAME. Upon the occurrence of a Total Loss with respect to the Airframe, the Borrower shall promptly (and, in any event, within 7 days after such occurrence) give the Lender written notice of such Total Loss. Within 90 days following the occurrence of such Total Loss, the Borrower shall prepay (or, if applicable, pay) the Note in full in accordance with the Loan Agreement.
Loss Destruction or Requisition. (a) Event of Loss. Upon the occurrence of an Event of Loss with respect to an Engine, the Grantor shall promptly upon obtaining knowledge of such Event of Loss (and in any event within 3 Business Days after such occurrence) give the Security Trustee written notice of such Event of Loss. The Grantor shall comply with the applicable requirements of Section 2.12 of the Credit Agreement with respect to any proceeds relating to such Event of Loss. Upon (i) the receipt by the Administrative Agent of all proceeds with respect to an Event of Loss or (ii) the replacement of any Engine subject to such Event of Loss and, in either case, compliance with Section 2.12 of the Credit Agreement with respect thereto, any Engine suffering such Event of Loss shall be released from the Lien of this Mortgage.
Loss Destruction or Requisition. TRUST INDENTURE 16-1
Loss Destruction or Requisition. Section 7.06 Insurance....................................................
Loss Destruction or Requisition. (a) Event of Loss with Respect to the Airframe. ------------------------------------------ Upon the occurrence of an Event of Loss with respect to the Airframe, the Company shall forthwith (and in any event within 30 days after such occurrence) give the Indenture Trustee notice of such Event of Loss. The Company shall, within 60 days after such occurrence, give the Indenture Trustee notice of its election to perform one of the following options (it being agreed that 21- if the Company shall not have given the Indenture Trustee such notice of such election, the Company shall be deemed to have elected to perform the option identified in the following clause (ii)):
