Common use of Sale-Leaseback; Junior Loan Clause in Contracts

Sale-Leaseback; Junior Loan. If the Aircraft is one of three (3) Eligible Aircraft which are subjected to a Sale-Leaseback pursuant to Section 7.4 or is one of three (3) Eligible Aircraft which are subjected to a Junior Loan pursuant to Section 7.3 then (x) the Related Equipment Notes issued, and the Related Mortgages entered into, in respect of the Eligible Aircraft not subjected to a Sale-Leaseback with the same owner participants (in the case of Section 7.4) or to a Junior Loan with the same lenders (in the case of Section 7.3) (for purposes of this Section 7.5(b) only, the “No-Cross Aircraft”) and the PDP Notes and PDP Security Agreements shall, without further act of the parties hereto or thereto, no longer be deemed to be “Related Notes” or “Related Mortgages” for purposes of this Agreement or the Mortgage and (y) the Lenders accept and agree that, unless otherwise agreed therein, the Equipment Notes and the Mortgage shall, without further act of the parties hereto or thereto, no longer be deemed to be “Related Notes” or a “Related Mortgage” under the terms of the Related Mortgage(s) in respect of the No-Cross Aircraft and the PDP Security Agreements.

Sale-Leaseback; Junior Loan. If the an Aircraft is one of three twenty-five percent (325%) or more of the Eligible Aircraft which are subjected to a Sale-Leaseback pursuant to Section 7.4 or is one of three (3) Eligible Aircraft which are subjected to a Junior Loan pursuant to Section 7.3 (for purposes of this Section 7.5(b) only, the “Relevant Aircraft”) then (x) the Related Applicable Equipment Notes issued, and the Related Applicable Mortgages entered into, in respect of the Eligible Aircraft not subjected to a Sale-Leaseback or Junior Loan with the same owner participants (in the case of Section 7.4) or to a Junior Loan with the same lenders (in the case of Section 7.3) (for purposes of this Section 7.5(b) only, the “No-Cross Aircraft”) and the PDP Notes and PDP Security Agreements Agreement shall, without further act of the parties hereto or thereto, no longer be deemed to be “Related Notes” or “Related Mortgages” for purposes of this Agreement or the Applicable Mortgage entered into in respect of such Relevant Aircraft and (y) the Lenders accept and agree that, unless otherwise agreed therein, the Applicable Equipment Notes issued, and the Applicable Mortgage entered into, in respect of such Relevant Aircraft shall, without further act of the parties hereto or thereto, no longer be deemed to be “Related Notes” or a “Related Mortgage” under for purposes the terms of the Related Applicable Mortgage(s) in respect of the No-Cross Aircraft and the PDP Security AgreementsAgreement.