Common use of Requisition of Use Clause in Contracts

Requisition of Use. In the event of a requisition for use by any government, so long as it does not constitute an Event of Loss, of any Airframe and the Engines or engines installed on such Airframe so long as any Airframe or Engine is subject to the Lien of this Mortgage, the Company shall promptly notify the Collateral Agent of such requisition and all of the Company's obligations under this Mortgage shall continue to the same extent as if such requisition had not occurred. So long as no Event of Default shall have occurred and be continuing, any payments received by the Collateral Agent or the Company from such government with respect to such requisition of use shall be paid over to, or retained by, the Company. In the event of an Event of Loss of an Engine resulting from the requisition for use by a government of such Engine (but not an Airframe), the Company will replace such Engine hereunder by complying with the terms of Section 3.4(e) hereof and any payments received by the Collateral Agent or the Company from such government with respect to such requisition shall be paid over to, or retained by, the Company.

Appears in 3 contracts

Samples: Credit and Guarantee Agreement (Northwest Airlines Corp), Aircraft Mortgage and Security Agreement (Northwest Airlines Corp), Aircraft Mortgage and Security Agreement (Northwest Airlines Corp)

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Requisition of Use. In the event of a requisition for use by any government, so long as it does not constitute an Event of Loss, of any Airframe and the Engines or engines installed on such Airframe so long as any Airframe or Engine is subject to the Lien of this Mortgage, the Company shall promptly notify the Collateral Agent of such requisition and all of the Company's ’s obligations under this Mortgage shall continue to the same extent as if such requisition had not occurred. So long as no Event of Default shall have occurred and be continuing, any payments received by the Collateral Agent or the Company from such government with respect to such requisition of use shall be paid over to, or retained by, the Company. In the event of an Event of Loss of an Engine resulting from the requisition for use by a government of such Engine (but not an Airframe), the Company will replace such Engine hereunder by complying with the terms of Section 3.4(e) hereof and any payments received by the Collateral Agent or the Company from such government with respect to such requisition shall be paid over to, or retained by, the Company.

Appears in 1 contract

Samples: Aircraft Mortgage and Security Agreement (Northwest Airlines Corp)

Requisition of Use. In the event of a requisition for use by any government, so long as it does not constitute con­stitute an Event of Loss, of any Airframe and the Engines or engines installed on such Airframe so long as any Airframe or Engine is subject to the Lien of this Mortgage, the Company shall promptly notify the Collateral Agent of such requisition and all of the Company's ’s obligations under this Mortgage shall continue to the same extent as if such requisition had not occurred. So long as no Event of Default shall have occurred and be continuing, any payments received by the Collateral Agent or the Company from such government with respect to such requisition of use shall be paid over to, or retained by, the Company. In the event of an Event of Loss of an Engine resulting from the requisition for use by a government of such Engine (but not an Airframe), the Company will replace such Engine hereunder by complying with the terms of Section 3.4(e) hereof and any payments received by the Collateral Agent or the Company from such government with respect to such requisition shall be paid over to, or retained by, the Company.

Appears in 1 contract

Samples: Aircraft Mortgage and Security Agreement (Northwest Airlines Corp)

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Requisition of Use. In the event of a requisition for use by any government, so long as it does not constitute an Event of Loss, of any the Airframe and the Engines or engines installed on such the Airframe so long as any the Airframe or an Engine is subject to the Lien of this Mortgage, the Company shall promptly notify the Collateral Agent of such requisition and all of the Company's ’s obligations under this Mortgage shall continue to the same extent as if such requisition had not occurred. So long as no Event of Default shall have occurred and be continuing, any payments received by the Collateral Agent or the Company from such government with respect to such requisition of use shall be paid over to, or retained by, the Company. In the event of an Event of Loss of an Engine resulting from the requisition for use by a government of such Engine (but not an the Airframe), the Company will replace such Engine hereunder by complying with the terms of Section 3.4(e) hereof and any payments received by the Collateral Agent or the Company from such government with respect to such requisition shall be paid over to, or retained by, the Company.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Northwest Airlines Corp)

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