Request for Authority. (a) Subject to Section 2.05 hereof, if the Servicers wish to take or approve any action which the Servicers are not expressly authorized under this Agreement to take or approve, they shall request authority from the relevant Serviced Group Member prior to taking or approving such action. The Servicers' request for authority shall be confirmed in writing (which term shall be deemed for all purposes of this Agreement to include e-mail transmissions) and shall include a reasonably detailed explanation of the reason for such request. If on or prior to the last day for a response by the relevant Serviced Group Member as specified by the Servicers in their request (which last day shall be a day that is at least five (5) Business Days after the date of the receipt of request), the relevant Serviced Group Member has not expressly refused such request, the Servicers shall be deemed to be authorized in writing to take or to approve such action on behalf of the relevant Serviced Group Member. (b) If the Servicers reasonably determine that an action to protect the interests of any Serviced Group Member is required before the expiration of the relevant time period specified in Section 2.04(a) hereof, the Servicers shall promptly notify the relevant Serviced Group Member in writing (which term shall be deemed for all purposes of this Agreement to include e-mail transmissions) of such determination and, unless otherwise directed by the relevant Serviced Group Member the action proposed by the Servicers shall be deemed to be authorized in writing on behalf of the relevant Serviced Group Member.
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Samples: Servicing Agreement (Fly Leasing LTD), Servicing Agreement (Fly Leasing LTD)
Request for Authority. (a) Subject to Section 2.05 hereof7.03(b), if the Servicers wish Servicer wishes to take or approve any action which the Servicers are it is not expressly authorized under this Agreement to take or approve, they it shall request authority from AerCo to take or approve the relevant Serviced Group Member prior to taking or approving such action. The Servicers' Servicer's request for authority shall be confirmed in writing (which term shall be deemed for all purposes of this Agreement to include e-mail transmissions) writing, and shall include a reasonably detailed explanation of the reason for such the request. If on or prior to the earlier of (i) the last day for a response by the relevant Serviced Group Member AerCo as specified by the Servicers Servicer in their its request (which last day shall be a day that is at least five (5) being not less than 5 Business Days after the date request) or (ii) the day following the next meeting of the receipt of Directors following the request), the relevant Serviced Group Member has AerCo does not expressly refused refuse such request, the Servicers shall Servicer may be deemed to be authorized in writing to take or to approve such action on behalf of AerCo Group following notification in writing to AerCo of the relevant Serviced Group MemberServicer's intention to proceed in accordance with its request.
(b) If the Servicers Servicer reasonably determine determines that an action to protect the interests of any Serviced AerCo Group Member is required before the expiration of the relevant time period specified in Section 2.04(a) hereof7.03(a), then the Servicers Servicer shall promptly notify the relevant Serviced Group Member in writing (which term shall be deemed for all purposes of this Agreement to include e-mail transmissions) Directors of such determination and, unless otherwise directed by the relevant Serviced Group Member Directors, the action proposed by the Servicers shall may be deemed to be authorized in writing on behalf of AerCo Group following notification in writing to AerCo of Servicer's intention to proceed in accordance with its request.
(c) In relation to each payment required to be made in relation to an Aircraft Asset and not authorized under any other provision of this Agreement, the relevant Serviced Group Member.Servicer will submit a certificate to the Administrative Agent with a copy to
Appears in 1 contract
Samples: Servicing Agreement (Aerco LTD)
Request for Authority. (a) Subject to Section 2.05 hereof, if the Servicers wish Servicer wishes to take or approve any action which the Servicers are Servicer is not expressly authorized under this Agreement to take or approve, they shall request authority from the relevant Serviced Group Member prior to taking or approving such action. The Servicers' Servicer's request for authority shall be confirmed in writing (which term shall be deemed for all purposes of this Agreement to include e-mail transmissions) and shall include a reasonably detailed explanation of the reason for such request. If on or prior to the last day for a response by the relevant Serviced Group Member as specified by the Servicers Servicer in their its request (which last day shall be a day that is at least five (5) Business Days after the date of the receipt of request), the relevant Serviced Group Member has not expressly refused such request, the Servicers Servicer shall be deemed to be authorized in writing to take or to approve such action on behalf of the relevant Serviced Group Member.
(b) If the Servicers Servicer reasonably determine determines that an action to protect the interests of any Serviced Group Member is required before the expiration of the relevant time period specified in Section 2.04(a) hereof, the Servicers Servicer shall promptly notify the relevant Serviced Group Member in writing (which term shall be deemed for all purposes of this Agreement to include e-mail transmissions) of such determination and, unless otherwise directed by the relevant Serviced Group Member the action proposed by the Servicers Servicer shall be deemed to be authorized in writing on behalf of the relevant Serviced Group Member.
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