Sale and Lease of Aircraft; Term Sample Clauses

Sale and Lease of Aircraft; Term. The Lessor, subject to satisfaction or waiver of the conditions set forth in this Lease and in the Participation Agreement, hereby agrees to purchase the Aircraft from AVSA on the Delivery Date and agrees immediately thereafter to lease the Aircraft to the Lessee pursuant to this Lease, and the Lessee hereby agrees to lease the Aircraft from the Lessor, such lease to be evidenced by the execution by the Lessor and the Lessee of a Lease Supplement leasing the Aircraft hereunder. Such lease shall last for the Term, at all times during which full legal title to the Aircraft shall remain vested with the Lessor to the exclusion of the Lessee, notwithstanding the possession and use thereof by the Lessee or any other Person. The Lessee agrees that the Lessor will authorize one or more employees of the Lessee, designated by the Lessee in writing, as the authorized representative or representatives of the Lessor to accept delivery of the Aircraft pursuant to the sale of the Aircraft described in the Participation Agreement. The Lessee hereby agrees that in the event delivery of the Aircraft shall be accepted by an employee or employees of the Lessee pursuant to such authorization by the Lessor, such acceptance of delivery by such employee or employees on behalf of the Lessor shall, without further act, irrevocably constitute acceptance by the Lessee of the Aircraft for all purposes of this Lease.
Sample 1Sample 2Sample 3See All (13)
AutoNDA by SimpleDocs

Related to Sale and Lease of Aircraft; Term

  • 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).

  • 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 Premises Landlord hereby demises and leases to Tenant for the Term of this Lease and upon the terms and conditions hereinafter set forth, and Tenant hereby accepts from Landlord, the Premises.

  • Lease of Equipment Lessor leases to Lessee, and Lessee leases from Lessor, all the property described in the Lease Schedules which are signed from time to time by Lessor and Lessee.

  • Use of Aircraft ‌ Employees shall not be required to use an aircraft in the course of their duties other than those of regular commercial airlines, licensed charters, or government aircraft.

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

  • Fixed Lease If this is a fixed lease, provide the start and end date for the lease term. 9.

  • Sale and Lease-Back Transactions Enter into any arrangement, directly or indirectly, with any person whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property which it intends to use for substantially the same purpose or purposes as the property being sold or transferred unless (a) the sale of such property is permitted by Section 6.05 and (b) any Capital Lease Obligations, Synthetic Lease Obligations or Liens arising in connection therewith are permitted by Sections 6.01 and 6.02, as the case may be.

  • Sales and Lease-Backs No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, become or remain liable as lessee or as a guarantor or other surety with respect to any lease of any property (whether real, personal or mixed), whether now owned or hereafter acquired, which such Credit Party (a) has sold or transferred or is to sell or to transfer to any other Person (other than Holdings or any of its Subsidiaries), or (b) intends to use for substantially the same purpose as any other property which has been or is to be sold or transferred by such Credit Party to any Person (other than Holdings or any of its Subsidiaries) in connection with such lease.

  • BASIC LEASE TERMS The following terms shall have the following meanings in this Lease:

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!