Common use of Purchase of Certain Rights in the Aircraft Clause in Contracts

Purchase of Certain Rights in the Aircraft. The Owner Participant hereby authorizes and directs the Owner Trustee to, and the Owner Trustee agrees for the benefit of the Owner Participant that it will, on the Delivery Date, subject to due compliance with the terms of Section 3.02 hereof: (a) purchase the Aircraft pursuant to the Lease; (b) accept from Lessee the Lessee Warranty Bill xx Sale and the Lessee FAA Bill xx Sale and the invoice furnished pursuant to the Participation Agreement; (c) execute and deliver a Lease Supplement covering the Aircraft; (d) execute and deliver each of the other Operative Agreements to which the Owner Trustee is to be a party including, without limitation, a Trust Supplement covering the Aircraft; (e) execute, issue and deliver to the Original Loan Participant one or more authenticated Certificates in the amounts and otherwise as provided in Section 1 of the Participation Agreement; (f) execute and deliver the financing statements referred to in Section 4(a)(vi) of the Participation Agreement, together with all other agreements, documents and instruments referred to in Section 4 of the Participation Agreement to which the Owner Trustee is to be a party; (g) effect the registration of the Aircraft in the name of the Owner Trustee by filing or causing to be filed with the FAA: (i) the Lessee FAA Bill xx Sale; (ii) an application for registration of the Aircraft in the name of the Owner Trustee (including, without limitation, an affidavit from the Owner Trustee in compliance with the provisions of 14 C.F.R. Section 47.7(c)(2)(ii)); and (iii) this Trust Agreement; (h) authorize a representative or representatives of the Owner Trustee (who shall be an employee or employees of Lessee) to accept delivery of the Aircraft pursuant to the Participation Agreement; and

Appears in 1 contract

Samples: Trust Agreement (Southwest Airlines Co)

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Purchase of Certain Rights in the Aircraft. The Owner Participant hereby authorizes and directs the Owner Trustee to, and the Owner Trustee agrees for the benefit of the Owner Participant that it will, on the Delivery Date, subject to due compliance with the terms of Section 3.02 hereof: (a) purchase the Aircraft pursuant to the Lease; (b) accept from Lessee the Lessee Warranty Bill xx Sale and the Lessee FAA Bill xx Sale and the invoice furnished pursuant to the Participation Agreement; (c) execute and deliver a Lease Supplement covering the Aircraft; (d) execute and deliver each of the other Operative Agreements to which the Owner Trustee is to be a party including, without limitation, a Trust Supplement covering the Aircraft; (e) execute, issue and deliver to the Original Loan Participant one or more authenticated Certificates in the amounts and otherwise as provided in Section 1 of the Participation Agreement; (f) execute and deliver the financing statements referred to in Section 4(a)(vi) of the Participation Agreement, together with all other agreements, documents and instruments referred to in Section 4 of the Participation Agreement to which the Owner Trustee is to be a party; (g) effect the registration of the Aircraft in the name of the Owner Trustee by filing or causing to be filed with the FAA: (i) the Lessee FAA Bill xx Sale; (ii) an application for registration of the Aircraft in the name of the Owner Trustee (including, without limitation, an affidavit from the Owner Trustee in the form of Exhibit 1 hereto in compliance with the provisions of 14 C.F.R. Section 47.7(c)(2)(ii47.7(c)(2)(iii)); and (iii) this Trust Agreement; (h) authorize a representative or representatives of the Owner Trustee (who shall be an employee or employees of Lessee) to accept delivery of the Aircraft pursuant to the Participation Agreement; and

Appears in 1 contract

Samples: Trust Agreement (Southwest Airlines Co)

Purchase of Certain Rights in the Aircraft. The Owner Participant hereby authorizes and directs the Owner Trustee to, and the Owner Trustee agrees for the benefit of the Owner Participant that it will, on the Delivery Date, subject to due compliance with the terms of Section 3.02 hereof: (a) purchase the Aircraft pursuant to the Lease; (b) accept from Lessee the Lessee Warranty Bill xx Sale and the Lessee FAA Bill xx Sale and the invoice furnished pursuant to the Participation Agreement; (c) execute and deliver a Lease Supplement covering the Aircraft; (d) execute and deliver each of the other Operative Agreements to which the Owner Trustee is to be a party including, without limitation, a Trust Supplement covering the Aircraft; (e) execute, issue and deliver to the Original Loan Participant one or more authenticated Certificates in the amounts and otherwise as provided in Section 1 of the Participation Agreement; (f) execute and deliver the financing statements referred to in Section 4(a)(vi) of the Participation Agreement, together with all other agreements, documents and instruments referred to in Section 4 of the Participation Agreement to which the Owner Trustee is to be a party; (g) effect the registration of the Aircraft in the name of the Owner Trustee by filing or causing to be filed with the FAA: (i) the Lessee FAA Bill xx Sale; (ii) an application for registration of the Aircraft in the name of the Owner Trustee (including, without limitation, an affidavit from the Owner Trustee in the form of Exhibit 1 hereto in compliance with the provisions of 14 C.F.R. Section 47.7(c)(2)(ii)); and (iii) this Trust Agreement; (h) authorize a representative or representatives of the Owner Trustee (who shall be an employee or employees of Lessee) to accept delivery of the Aircraft pursuant to the Participation Agreement; and (i) execute and deliver all such other instruments, documents or certificates and take all such other actions in accordance with the directions of the Owner Participant, as the Owner Participant may deem necessary or advisable in connection with the transactions contemplated hereby.

Appears in 1 contract

Samples: Trust Agreement (Southwest Airlines Co)

Purchase of Certain Rights in the Aircraft. The Owner Participant hereby authorizes and directs the Owner Trustee to, and the Owner Trustee agrees for the benefit of the Owner Participant that it will, on the Delivery Date, subject to due compliance with the terms of Section 3.02 hereof: (a) purchase the Aircraft pursuant to the Lease; (b) accept from Lessee the Lessee Warranty Bill xx Sale and the Lessee FAA Bill xx Sale and the invoice furnished pursuant to the Participation Agreement; (c) execute and deliver a Lease Supplement covering the Aircraft; (d) execute and deliver each of the other Operative Agreements to which the Owner Trustee is to be a party including, without limitation, a Trust Supplement covering the Aircraft; (e) execute, issue and deliver to the Original Loan Participant one or more authenticated Certificates in the amounts and otherwise as provided in Section 1 of the Participation Agreement; (f) execute and deliver the financing statements referred to in Section 4(a)(vi) of the Participation Agreement, together with all other agreements, documents and instruments referred to in Section 4 of the Participation Agreement to which the Owner Trustee is to be a party; (g) effect the registration of the Aircraft in the name of the Owner Trustee by filing or causing to be filed with the FAA: (i) the Lessee FAA Bill xx Sale; (ii) an application for registration of the Aircraft in the name of the Owner Trustee (including, without limitation, an affidavit from the Owner Trustee in compliance with the provisions of 14 C.F.R. Section 47.7(c)(2)(ii)); and (iii) this Trust Agreement; (h) authorize a representative or representatives of the Owner Trustee (who shall be an employee or employees of Lessee) to accept delivery of the Aircraft pursuant to the Participation Agreement; and (i) execute and deliver all such other instruments, documents or certificates and take all such other actions in accordance with the directions of the Owner Participant, as the

Appears in 1 contract

Samples: Trust Agreement (Southwest Airlines Co)

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Purchase of Certain Rights in the Aircraft. The Owner Participant hereby authorizes and directs the Owner Trustee to, and the Owner Trustee agrees for the benefit of the Owner Participant that it will, on the Delivery Date, subject to due compliance with the terms of Section 3.02 hereof: (a) purchase the Aircraft pursuant to the Lease; (b) accept from Lessee the Lessee Warranty Bill xx Sale and the Lessee FAA Bill xx Sale and the invoice furnished pursuant to the Participation Agreement; (c) execute and deliver a Lease Supplement covering the Aircraft; (d) execute and deliver each of the other Operative Agreements to which the Owner Trustee is to be a party including, without limitation, a Trust Supplement covering the Aircraft; (e) execute, issue and deliver to the Original Loan Participant one or more authenticated Certificates in the amounts and otherwise as provided in Section 1 of the Participation Agreement; (f) execute and deliver the financing statements referred to in Section 4(a)(vi) of the Participation Agreement, together with all other agreements, documents and instruments referred to in Section 4 of the Participation Agreement to which the Owner Trustee is to be a party; (g) effect the registration of the Aircraft in the name of the Owner Trustee by filing or causing to be filed with the FAA: (i) the Lessee FAA Bill xx Sale; (ii) an application for registration of the Aircraft in the name of the Owner Trustee (including, without limitation, an affidavit from the Owner Trustee in compliance with the provisions of 14 C.F.R. Section 47.7(c)(2)(ii)); and (iii) this Trust Agreement; (h) authorize a representative or representatives of the Owner Trustee (who shall be an employee or employees of Lessee) to accept delivery of the Aircraft pursuant to the Participation Agreement; and (i) execute and deliver all such other instruments, documents or certificates and take all such other actions in accordance with the directions of the Owner Participant, as the Owner Participant may deem necessary or advisable in connection with the transactions contemplated hereby.

Appears in 1 contract

Samples: Trust Agreement (Southwest Airlines Co)

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