Notice of Substitution. In the Monthly Servicer Report to be delivered on each Determination Date, the Contributor shall give written notice to the Trustee, each Noteholder, the Rating Agencies and the Servicer of each substitution of Contracts pursuant to Section 7.01(a) hereof and of any substitution or repurchase pursuant to Section 5.03 hereof during the preceding Collection Period. Such Monthly Servicer Report or other written notice shall (i) specify the amount of each periodic Contract Payment under the Predecessor Contract and the amount of each periodic Contract Payment under each Eligible Contract being substituted, (ii) specify the residual values of the Equipment subject to the Predecessor Contract and the Equipment subject to the Eligible Contract being substituted, (iii) specify the Discounted Contract Balance of the Predecessor Contracts, the Discounted Contract Balance of the Substitute Contracts, any Excess Substituted Discounted Contract Balance, and any amounts to be deposited in the Collection Account in connection with such Substitute Contracts and (iv) with respect to a substitution pursuant to Section 7.01(a) hereof, be accompanied by an Officer's Certificate, substantially in the form of Exhibit F hereto, certifying as to compliance with the provisions of Section 7.01(a) hereof.
Notice of Substitution. 27 7.03 Contributor's and Servicer's Subsequent Obligations...............28 7.04 Usage of Predecessor Contracts in Calculations....................28
Notice of Substitution. 11 SECTION 7.03 CONTRIBUTOR'S AND COMPANY'S SUBSEQUENT OBLIGATIONS. ..............................................................................................11 SECTION 7.04 USAGE OF PREDECESSOR CONTRACTS IN CALCULATION.........................................11
Notice of Substitution. 13 Section 7.03 Contributor's and Company's Subsequent Obligations.......................................13 Section 7.04 Usage of Predecessor Contracts in Calculation............................................14
Notice of Substitution. Not later than 10 Business Days after the execution of the Issuer Substitution Documents, the Substituted Debtor shall give notice thereof to the Holders in accordance with the provisions described in this Article 10.
Notice of Substitution. Not less than 15 days after execution of the Documents, the Substituted Debtor shall give notice thereof to the Noteholders in accordance with Condition 11 (Notices).
Notice of Substitution. If the Borrower wishes to exercise its right pursuant to Clause 6.1 (Conditions to Substitution) it shall notify the Agent in writing of the proposed substitution (a “Substitution Notice”), which such notice shall specify:
6.2.1 the details of the proposed Existing Aircraft;
6.2.2 the proposed date of such substitution, which shall be a date that is not earlier than fifteen (15) Business Days after the date of service of such notice (or such other date as the Agent (acting on the instructions of all of the Lenders) may agree to); and
6.2.3 if, in accordance with Clause 6.5 (Deferral of Conditions), the Borrower has elected to defer satisfaction of any of the conditions in Clause 6.1 (Conditions to Substitution):
(a) the proposed Existing Aircraft Collateral Release Date; and
(b) the details of any cash collateral and/or other collateral arrangements proposed by the Borrower in order to comply with sub-clause 6.5.1.
Notice of Substitution. 28 7.03 CONTRIBUTOR'S AND SERVICER'S SUBSEQUENT OBLIGATIONS...............................................28
Notice of Substitution. Pursuant to the Contribution and Servicing Agreement, in the Monthly Servicer Report to be delivered on each Determination Date, the Servicer shall give written notice to the Trustee, the Issuer and the Transferor of each substitution of Contracts pursuant to Section 7.01 hereof during the preceding Collection Period. Such Monthly Servicer Report or other written notice shall (i) specify the amount of each periodic Contract Payment under the Predecessor Contract and the amount of each periodic Contract Payment under each Substitute Contract, (ii) specify the residual values of the Equipment subject to the Predecessor Contract and the Equipment subject to the Substitute Contract, (iii) specify the Discounted Contract Balance of the Predecessor Contracts, the Discounted Contract Balance of the Substitute Contracts, and any amounts to be deposited in the Collection Account in connection with such Substitute Contracts and (iv) with respect to a substitution pursuant to Section 7.01 hereof, be accompanied by an Officer's Certificate of the Transferor, substantially in the form of Exhibit B hereto, certifying as to compliance with the provisions of Section 7.01 hereof.
Notice of Substitution. 32 7.03 Contributor's and Servicer's Subsequent Obligations...........................................32 7.04 Usage of Predecessor Contracts in Calculations................................................32 SECTION 8. THE SERVICER..................................................................................33 8.01 Corporate Existence of the Servicer...........................................................33 8.02 Limitation on Liability of the Servicer and Others............................................33 8.03 Servicer Not to Resign or be Removed..........................................................34 8.04 Financial and Business Information............................................................34 8.05 Officer's Certificates........................................................................35 8.06 Inspection....................................................................................35 8.07
