Aircraft Age definition
Aircraft Age means the age in integral numbers of completed elapsed months of an Aircraft since its date of manufacture.
Aircraft Age means for any Aircraft, as of any date of determination, the result of (a) the number of days elapsed from the date of manufacture of such Aircraft to such date of determination less for any Aircraft financed hereunder the number of days elapsed from the relevant Funding Date in respect of such Aircraft to such date of determination, divided by (b) 365.
Aircraft Age means the age in integral number of completed elapsed years of an Aircraft since its date of manufacture (or, if such Aircraft has been subjected to a Freighter Conversion to a Freighter Type, since the related Freighter Conversion Effective Date), such integral number rounded upwards in the case of six months or more having elapsed since the last anniversary of such Aircraft’s date of manufacture (or related Freighter Conversion Effective Date, as applicable). With respect to an Aircraft that becomes a Financed Aircraft on a date that is after a Determination Date (or, if the first Determination Date has not yet occurred, the Closing Date) and is before or on the next succeeding Determination Date, the Aircraft Age of such Aircraft will be deemed to be its Aircraft Age in years on and as of such next succeeding Determination Date, subject to the rounding convention set forth in the preceding sentence.
Examples of Aircraft Age in a sentence
Each Additionally Financed Aircraft has an Aircraft Age of less than the Aircraft Age Limit.
More Definitions of Aircraft Age
Aircraft Age means, where such term is used in the definitions of Aircraft Age Limit, Aircraft Age Advance Rate Adjustment and Weighted Average Aircraft Age, the age in integral number of completed elapsed months of an Aircraft since its date of manufacture (or, if such Aircraft has been subjected to a Freighter Conversion to a Freighter Type, since the related Freighter Conversion Effective Date). With respect to an Aircraft that becomes a Funded Aircraft on a date that is after a Determination Date (or, if the first Determination Date has not yet occurred, the Closing Date) and is before or on the next succeeding Determination Date, the Aircraft Age of such Aircraft for purposes of the foregoing definitions will be deemed to be its Aircraft Age in months on and as of such next succeeding Determination Date.