Required Condition of Aircraft Sample Clauses

Required Condition of Aircraft. The Aircraft (i) shall be suitable for obtaining a current and valid United States FAA Standard Certificate of Airworthiness (the “Airworthiness Certificate”) and has completed any inspections, actions and items specifically required for the purpose of obtaining the Airworthiness Certificate; (ii) has all systems functional and in proper working order and serviceable condition meeting manufacturer’s minimum specifications for return to unrestricted service – for purposes of this Agreement, “proper working order and serviceable condition” shall mean a condition which (a) is consistent with the maintenance manuals limitations, measurements, or operational criteria applicable to the unit; (b) is good, but not necessarily perfect, it being understood and agreed that normal wear and tear which does not materially impair performance shall be acceptable; (c) does not require a modification to the normal life limitation, overhaul or inspection interval or normal operating procedures, except as modified by an Airworthiness Directive or Customer Service Bulletin; (iii) has all Aircraft Documents complete and continuous, in compliance with manufacturer requirements and FAR Part 91, including any required component repair tags, FAA Forms 8130-3, serviceable tags or other documentation in the form required by the FAR showing work accomplished or parts replaced for all life-limited, serialized, replaced or overhauled components and that all required inspections, maintenance and repairs have been performed; (iv) is current on its maintenance in accordance with the manufacturer’s approved maintenance plan and the Computerized Maintenance Program (“CMP”); (v) does not have damage history that required or would have required the filing of a FAA Form 337, or required a log book entry or insurance claim; (vi) has no airframe, engines or APU corrosion; (vii) is in compliance with all FAA Airworthiness Directives and with all mandatory Service Bulletins and Aircraft Service Changes with effective compliance dates on or prior to the Closing Date (as defined in Section 4.1 below) complied with; (viii) has the service bulletins with respect to RVSM, MNPS, RNPS, RNP5, FM Immunity and 8.33 COM performed and completed; (ix) has all inspections, maintenance and repairs performed in accordance with the manufacturer’s maintenance manual; (x) has each engine able to produce its rated takeoff thrust in a ground power run, in accordance with the manufacturer’s applicable specifications and...
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Related to Required Condition of Aircraft

  • 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.

  • 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).

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

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

  • Condition of Equipment Each Grantor will maintain or cause to be maintained and preserved in good condition, repair and working order, ordinary wear and tear excepted, the Equipment (necessary or useful to its business) and will forthwith, or in the case of any loss or damage to any Equipment of any Grantor within a commercially reasonable time after the occurrence thereof, make or cause to be made all repairs, replacements and other improvements in connection therewith which are necessary or desirable, consistent with past practice, or which the Collateral Agent may request to such end. Any Grantor will promptly furnish to the Collateral Agent a statement describing in reasonable detail any such loss or damage in excess of $25,000 per occurrence to any Equipment.

  • Seller’s Conditions The obligations of Seller at the Closing are subject, at the option of Seller, to the satisfaction or waiver at or prior to the Closing of the following conditions precedent:

  • Maintenance of Aircraft Lessor shall be solely responsible for securing maintenance, preventive maintenance and inspections of the Aircraft (utilizing an inspection program listed in FAR Section 91.409(f)), and shall take such requirements into account in scheduling the Aircraft hereunder.

  • Return of Aircraft, Etc (a) If an Event of Default shall have occurred and be continuing and the Equipment Notes have been accelerated, subject to Section 4.03 hereof and unless the Owner Trustee or the Owner Participant shall have elected to purchase the Equipment Notes, at the request of the Mortgagee, the Owner Trustee shall promptly execute and deliver to the Mortgagee such instruments of title and other documents as the Mortgagee may deem necessary or advisable to enable the Mortgagee or an agent or representative designated by the Mortgagee, at such time or times and place or places as the Mortgagee may specify, to obtain possession of all or any part of the Mortgaged Property included in the Trust Indenture Estate to which the Mortgagee shall at the time be entitled hereunder. If the Owner Trustee shall for any reason fail to execute and deliver such instruments and documents after such request by the Mortgagee, the Mortgagee may (i) obtain a judgment conferring on the Mortgagee the right to immediate possession and requiring the Owner Trustee to execute and deliver such instruments and documents to the Mortgagee, to the entry of which judgment the Owner Trustee hereby specifically consents to the fullest extent permitted by Law, and (ii) pursue all or part of such Mortgaged Property wherever it may be found and, in the event that a Lease Event of Default has occurred and is continuing, may enter any of the premises of Lessee wherever such Mortgaged Property may be or be supposed to be and search for such Mortgaged Property and take possession of and remove such Mortgaged Property. All expenses of obtaining such judgment or of pursuing, searching for and taking such property shall, until paid, be secured by the Lien of this Trust Indenture.

  • Property Condition Seller agrees to maintain the Property in its current condition, subject to ordinary wear and tear, from the time this Agreement comes into effect until the Closing. Buyer recognizes that the Seller, along with any licensed real estate agent(s) involved in this transaction, make no claims as to the validity of any property disclosure information. Buyer is required to perform their own inspections, tests, and investigations to verify any information provided by the Seller. Afterward, the Buyer shall submit copies of all tests and reports to the Seller at no cost.

  • Buyer Furnished Equipment 14.3.2.1 The Seller shall introduce data related to Buyer Furnished Equipment, for equipment that is installed on the Aircraft by the Seller (hereinafter “BFE Data”) into the customized Technical Data, at no additional charge to the Buyer for the initial issue of the Technical Data provided at first Aircraft Delivery, provided such BFE Data is provided in accordance with the conditions set forth in Clauses 14.3.2.2 through 14.3.2.6.

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