Management of Aircraft Sample Clauses

Management of Aircraft. Until the occurrence of the Termination Date, the Borrower shall cause the Portfolio to be managed by a Person which, if not ALC or the Servicer, shall (i) be acceptable to the Majority Lenders and, the Agent and (ii) be a nationally known entity which is engaged in the aircraft leasing or management business, capable of performing the services outlined in the Servicing Agreement and (iii) having a net worth in excess of $100,000,000 (or its obligations to perform such services be guaranteed by an entity having a net worth of at least $100,000,000), in each case unless otherwise waived by the Agent and the Majority Lenders. Any Person that meets the criteria listed in clauses (i) through (iii) above, as a condition to becoming Servicer, shall execute and deliver to the Borrower, each Aircraft Subsidiary and the Agent an instrument accepting the appointment as Servicer and outlining its duties in form and substance satisfactory to the Agent (such instrument, a “Replacement Servicing Agreement”). On or before appointing such Person as Servicer, the Borrower shall cause copies of all Aircraft Documents, Leases, Lessee information, all documents, records and other information relating to the foregoing and each other document, record or other information obtained, used or produced by the Servicer necessary for the replacement Servicer to provide its services under the Replacement Servicing Agreement, including all documents, records and other information relating to the Borrower, the Aircraft Subsidiaries, the Aircraft, the Engines, each Part and the Depository Accounts, in each case, that are reasonably requested by such Person to be delivered to such Person; provided that unless and until such Person is appointed Servicer, such information shall be delivered by the Borrower to and held by the Agent or its designee.
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Management of Aircraft. The Mortgagee acknowledges and agrees that during the term of the Loan, the Aircraft will be managed by Jet Aviation Business Jets, Inc. (or an affiliate thereof) or any other manager (the “Aircraft Manager”) acceptable to the Grantor. To the extent that any of the obligations set forth herein or in any other Loan Document has been performed by the Aircraft Manager, such performance shall be satisfactory for purposes of this Mortgage and such Loan Documents and shall constitute full performance hereunder and thereunder, as the case may be. Grantor agrees that any such management agreement may permit the Aircraft Manager to charter (but not lease or sublease) the Aircraft to third Persons other than the Grantor, the Guarantors or any Subsidiary.
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Management of Aircraft. 10.1 It is the intention of the parties that administration and accounting in respect of the business of the JVC and usage of the Aircraft whether pursuant to the Charter Agreement or the Operating Lease Agreement or otherwise will, subject always to the directions of the board of directors of the JVC from time to time, be carried out by Morson. Morson will be entitled to charge the JVC for its services £3,000 per annum (uprated annually to reflect the increase in the retails prices index in the UK for the previous 12 months). 10.2 For the avoidance of doubt neither Morson nor the JVC shall supply a pilot, or crew in respect of usage of the Aircraft and it is the responsibility of both Morson (when utilising services under the Charter Agreement) and CorpAcq (when utilising services under the Operating Services Agreement) to contract on their own behalf for any pilots and/or crew required by them including any travel expenses of the crew and, if applicable, their food, lodging and ground transportation. 10.3 It is the expectation of the parties that each of them will utilise the Aircraft for similar periods. The parties shall use their respective reasonable endeavours to avoid conflicts on their respective usage of the Aircraft and in the service by them of Requests under the Charter Agreement and Lease Request Supplements under the Operating Services Agreement respectively that seek usage of the Aircraft on the same dates or conflicting times on the same dates and the parties agree to act in good faith towards each other in this regard. The parties shall consult on a regular basis (not less than monthly) over expected usage of the Aircraft and seek to agree how to avoid any conflicts whilst using their reasonable endeavours to provide fair usage of the Aircraft to the parties if each of them seeks such usage. The parties shall use their reasonable endeavours to procure that usage of the Aircraft, if allocated to them does not exceed the agreed dates and time for such usage. 10.4 In managing conflict the parties agree that they will prioritise fair access to the Aircraft based upon the proposed time (including all time to be spent waiting at any destination) for which the Aircraft is proposed to be used and unavailable to the other party and on the identity of the proposed passengers. Usage of the Aircraft where the respective CEO’s of Morson and CorpAcq (presently [***] and Sxxxx Xxxxxx respectively) are to be passengers shall be prioritised where reasonab...
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Related to Management of Aircraft

  • Lease of Aircraft Lessor agrees to lease the Aircraft to Lessee pursuant to the provisions of FAR Section 91.501(b)(6) and Section 91.501(c)(1) and this Agreement, and to provide a fully-qualified and credentialed flight crew for all flights to be conducted hereunder during the Term (as defined in Section 13) hereof. The parties acknowledge and agree that this Agreement did not result in any way from any direct or indirect advertising, holding out or soliciting on the part of Lessor or any person purportedly acting on behalf of Lessor. Lessor and Lessee intend that the lease of the Aircraft effected by this Agreement shall be treated as a “wet lease” pursuant to which Lessor provides transportation services to Lessee in accordance with FAR Section 91.501(b)(6) and Section 91.501(c)(1).

  • Condition of Aircraft Upon any Return Occasion, Lessee shall return such Aircraft to Lessor in such condition that the Aircraft shall also comply with each and every condition and requirement set forth elsewhere in this Lease, including Exhibit E hereto.

  • Aircraft Maintenance Operator shall, at its own expense, cause the Aircraft to be inspected, maintained, serviced, repaired, overhauled, and tested in accordance with FAR Part 91 so that the Aircraft will remain in good operating condition and in a condition consistent with its airworthiness certification and shall take such requirements into account in scheduling the Aircraft hereunder, including but not limited compliance with applicable airworthiness directives and service bulletins. Performance of maintenance, preventive maintenance or inspection shall not be delayed or postponed for the purpose of scheduling the Aircraft unless such maintenance or inspection can safely be conducted at a later time in compliance with applicable laws, regulations and requirements, and such delay or postponement is consistent with the sound discretion of the pilot-in-command. In the event that any non-standard maintenance is required during the term and will interfere with User’s requested or scheduled flights, Operator, or Operator’s pilot-in-command, shall notify User of the maintenance required, the effect on the ability to comply with User’s requested or scheduled flights and the manner in which the parties will proceed with the performance of such maintenance and conduct of such flight(s). In no event shall Operator be liable to User or any other person for loss, injury or damage occasioned by the delay or failure to furnish the Aircraft under this Agreement, whether or not maintenance-related.

  • Aircraft This peril includes self-propelled missiles and spacecraft.

  • AIRCRAFT CONFIGURATION The guarantees defined below (the “Guarantees”) are applicable to the A319-100 Aircraft as described in the Standard Specification Ref. J 000 01000 Issue 6 dated 1st March 2007 equipped with:

  • Early Construction of Base Case Facilities Developer may request Connecting Transmission Owner to construct, and Connecting Transmission Owner shall construct, subject to a binding cost allocation agreement reached in accordance with Attachment S to the ISO OATT, including Section 25.8.7 thereof, using Reasonable Efforts to accommodate Developer’s In-Service Date, all or any portion of any System Upgrade Facilities or System Deliverability Upgrades required for Developer to be interconnected to the New York State Transmission System which are included in the Base Case of the Class Year Study for the Developer, and which also are required to be constructed for another Developer, but where such construction is not scheduled to be completed in time to achieve Developer’s In-Service Date.

  • Configuration Management The Contractor shall maintain a configuration management program, which shall provide for the administrative and functional systems necessary for configuration identification, control, status accounting and reporting, to ensure configuration identity with the UCEU and associated cables produced by the Contractor. The Contractor shall maintain a Contractor approved Configuration Management Plan that complies with ANSI/EIA-649 2011. Notwithstanding ANSI/EIA-649 2011, the Contractor’s configuration management program shall comply with the VLS Configuration Management Plans, TL130-AD-PLN-010-VLS, and shall comply with the following:

  • Return of Aircraft 64 23.1 Date of Return................................................64 23.2

  • Construction Phase Services 3.1.1 – Basic Construction Services

  • Management and Control Systems Grantee will: 1. maintain an appropriate contract administration system to ensure that all terms, conditions, and specifications are met during the term of the contract through the completion of the closeout procedures. 2. develop, implement, and maintain financial management and control systems that meet or exceed the requirements of Uniform Statewide Accounting System (UGMS). Those requirements and procedures include, at a minimum, the following: i. Financial planning, including the development of budgets that adequately reflect all functions and resources necessary to carry out authorized activities and the adequate determination of costs; ii. Financial management systems that include accurate accounting records that are accessible and identify the source and application of funds provided under each Contract of this Contract, and original source documentation substantiating that costs are specifically and solely allocable to a Contract and its Contract and are traceable from the transaction to the general ledger; iii. Effective internal and budgetary controls; iv. Comparison of actual costs to budget; determination of reasonableness, allowableness, and allocability of costs; v. Timely and appropriate audits and resolution of any findings; vi. Billing and collection policies; and vii. Mechanism capable of billing and making reasonable efforts to collect from clients and third parties.

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