Common use of Majority Clause in Contracts

Majority. If at any time a majority of the aggregate unpaid Original Amount of all Equipment Notes in respect of the Aircraft ceases to be held by the same Lender or Lenders as the “lender” or “lenders” holding a majority (or more) of the aggregate unpaid Original Amount of all Related Equipment Notes in respect of any one or more other Related Aircraft and/or holding a majority (or more) of the aggregate unpaid principal amount of all PDP Notes, then unless such change of holding occurred as the result of the lawful exercise of remedies following an Event of Default (x) the Related Equipment Notes issued, and the Related Mortgages entered into, in respect of such one or more other Related Aircraft and/or the PDP Notes and the PDP Security Agreements, as the case may be, shall, without further act of the parties hereto or thereto, no longer be deemed to be “Related Notes” or “Related Mortgages” for purposes of this Agreement or the Mortgage and (y) the Lenders accept and agree that, unless otherwise agreed therein, the Equipment Notes and the Mortgage shall, without further act of the parties hereto or thereto, no longer be deemed to be “Related Notes” or a “Related Mortgage” under the terms of the Related Mortgage(s) in respect of such one or more other Related Aircraft and/or the PDP Security Agreements, as the case may be.

Majority. If at any time a majority of the aggregate unpaid Original Amount of all Applicable Equipment Notes in respect of an Aircraft (for purposes of this Section 7.5(a) only the Aircraft “Relevant Aircraft”) ceases to be held by the same Lender or Lenders as the “lender” Lender or “lenders” Lenders holding a majority (or more) of the aggregate unpaid Original Amount of all Related Applicable Equipment Notes in respect of any one or more other Related Aircraft and/or holding a majority (or more) of the aggregate unpaid principal amount of all PDP Notes, if any, issued and outstanding in respect of one or more other Aircraft, then unless such change of holding occurred as the result of the lawful exercise of remedies following an Event of Default (x) the Related Applicable Equipment Notes and/or the PDP Notes issued, as the case may be, and the Related Mortgages entered into, in respect of such one or more other Related Aircraft and/or the PDP Notes and the PDP Security AgreementsAgreement, as the case may be, shall, without further act of the parties hereto or thereto, no longer be deemed to be “Related Notes” or “Related Mortgages” for purposes of this Agreement or the Mortgage entered into in respect of such Relevant Aircraft and (y) the Lenders accept and agree that, unless otherwise agreed therein, the Applicable Equipment Notes issued, and the Applicable Mortgage entered into, in respect of such Relevant Aircraft shall, without further act of the parties hereto or thereto, no longer be deemed to be “Related Notes” or a “Related Mortgage” under the terms for purposes of the Related Applicable Mortgage(s) in respect of such one or more other Related Aircraft and/or the PDP Security AgreementsAgreement, as the case may be.