SALE AND LEASEBACK BY LESSOR. In addition to the Transfers and grants of Security Interests permitted by Clauses 14.2 and 14.3, but subject to the provisions thereof, Lessor shall be entitled to transfer its right, title and interests in and to the Leased Property to any Person and lease the Aircraft from such Person (a "Head Lessor"), and in such event Lessor shall retain its rights and obligations as the "Lessor" under this Agreement. In the event of such a sale and lease-back by Lessor, (a) the Head Lessor shall meet the requirements for a "
Appears in 2 contracts
Samples: Lease Agreement (Vanguard Airlines Inc \De\), Lease Agreement (Vanguard Airlines Inc \De\)
SALE AND LEASEBACK BY LESSOR. In addition to the Transfers and grants of Security Interests permitted by Clauses 14.2 and 14.3, but subject to the provisions thereof, Lessor shall be entitled to transfer its right, title and interests in and to the Leased Property to any Person and lease the Aircraft from such Person (a "Head LessorHEAD LESSOR"), and in such event Lessor shall retain its rights and obligations as the "Lessor" under this Agreement. In the event of such a sale and lease-back by Lessor, (a) the Head Lessor shall meet the requirements for a "
Appears in 1 contract
SALE AND LEASEBACK BY LESSOR. In addition to the Transfers and grants of Security Interests permitted by Clauses Sections 14.2 and 14.3, but subject to the provisions thereof, Lessor shall be entitled to transfer its right, title and interests in and to the Leased Property to any Person and lease the Aircraft from such Person (a "Head Lessor"), and in such event Lessor shall retain its rights and obligations as the "Lessor" under this Agreement. In the event of such a sale and lease-back by Lessor, (a) the Head Lessor shall meet the requirements for a "
Appears in 1 contract
Samples: Lease Agreement (Airfund International Limited Partnership)
