Aircraft Interest definition

Aircraft Interest means (a) the Ownership Interest or Guarantor Ownership Interest in any Person, including without limitation a trust, that owns an ACS Group Aircraft or (b) the Ownership Interest or Guarantor Ownership Interest in any Person that holds, directly or indirectly, the interest referred to in clause (a) above. The acquisition or disposition of all of the Aircraft Interest with respect to an ACS Group Aircraft constitutes, respectively, the acquisition or disposition of that ACS Group Aircraft.
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Aircraft Interest means the 12.5% interest in a Cessna XLS aircraft acquired by PMGI Holdings Inc. pursuant to agreements, dated as of December 23, 2004, with NetJets Sales, Inc., NetJets Aviation, Inc. and NetJets Services, Inc.
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Aircraft Interest means the Ownership Interest in (a) any Person, including without limitation a trust, that owns an Aircraft or (b) the Person that holds, directly or indirectly, the interest referred to in clause (a) above. The acquisition or disposition of all of the Aircraft Interest with respect to an Aircraft constitutes, respectively, the acquisition or disposition of that Aircraft.
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Examples of Aircraft Interest in a sentence

  • Any Seller may waive any inaccuracies in the representations and warranties of the Issuer Group or any condition in Clause 14.1 hereof to the Closing of the sale of any Aircraft or Aircraft Interest.

  • Notwithstanding the foregoing, “Collateral” (i) shall exclude items which by their terms cannot be pledged without violating third person or entity rights or the terms of agreements prohibiting such pledge, but such items shall be excluded only to the extent that the restrictions on granting of security interests therein are enforceable under applicable law and (ii) only for so long as there remains a Permitted Lien on the Aircraft Interest, shall exclude the Capital Stock of PMGI Holdings Inc.

  • Upon any Total Loss or Disposition of an Aircraft or any Aircraft Interest, the Borrower shall prepay the Loans in an amount equal to (A) where such Total Loss or Disposition occurs during the Drawing Period, 100% of, and (B) where such Total Loss or Disposition occurs following the Drawing Period, 110% of, the product of (x) the Allocable Percentage in respect of such Aircraft and (y) the aggregate outstanding principal amount of the Loans immediately prior to such prepayment.

  • Effective upon termination of all Permitted Liens on the Aircraft Interest, the Capital Stock of PMGI Holdings Inc.

  • Effective upon termination of all Permitted Liens on the Aircraft Interest, the Capital Stock and property of PMGI Holdings Inc.

  • To address Irish withholding tax on payments from the Lessor to the Cayman Islands, prior to the transfer of the Aircraft Interest from BALCAP to BALI, a yet to be identified BofA entity (“BAO”) will assume the obligation to make the Series B debt payments from BALCAP.

  • Subject to Section 3, Xx. Xxxxxx agrees to fund a Company account with cash in an amount of not less than $25,000, which cash may be drawn upon at any time by the Company to cover the aggregate incremental cost incurred by the Company in connection with any flight taken by Xx. Xxxxxx pursuant to the RenRe Aircraft Interest for his personal use.

  • The Parties covenant and agree to use their reasonable best efforts to complete the sale of the Aircraft Interest from Xxxxxx to EFI (or one of its subsidiaries), for the consideration described in Section 2.02, within sixty (60) days after the Closing.

  • Subject to Section 3, the Company agrees to provide a standing instruction to NetJets to ensure that, and Xx. Xxxxxx agrees that, any flight taken by Xx. Xxxxxx pursuant to the RenRe Aircraft Interest for his personal use will be pursuant to Part 135 of the Federal Aviation regulations.

  • The obligations of the relevant Seller under this Agreement in relation to the sale of any Aircraft or Aircraft Interest are conditional upon satisfaction or waiver by the relevant Seller of the following conditions on or prior to the applicable Closing of the sale and purchase of that Aircraft or Aircraft Interest: 14.1.1 the conditions set forth in Clause 3 with respect to such Aircraft or Aircraft Interest shall have been satisfied; 14.


More Definitions of Aircraft Interest

Aircraft Interest means fifty percent (50%) or more of either (x) the assets or (y) the issued and outstanding capital stock of Poly-Aero, Inc., a North Carolina corporation.
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Aircraft Interest means DAE's interest in a trust declared by a special purpose vehicle (whose shares are directly or indirectly wholly-owned by DAE) in favor of DAE over an aircraft (including the engines) which is owned (either directly or through an owner trust structure) by such special purpose vehicle and is the subject of a lease, and its rights and benefits in relation thereto (other than certain excluded rights under such lease). The Trustee will appoint DAE as the servicing agent (the "Servicing Agent") to manage the Wakala Portfolio pursuant to the Servicing Agency Agreement. Periodic Distribution Payments The Servicing Agent will be obliged under the Servicing Agency Agreement to maintain two ledger accounts in relation to the relevant Series, a collection account (the "Collection Account") and a reserve account (the "Reserve Account"). All revenues in respect of any Wakala Asset and all installment payments of the profit amount component of the Deferred Sale Price payable pursuant to the terms of each Murabaha Contract (together the "Wakala Portfolio Revenues") will be credited to the Collection Account. On each Payment Business Day immediately preceding each Periodic Distribution Date (each such date being a "Wakala Distribution Determination Date"), the Servicing Agent shall pay into the relevant Transaction Account amounts standing to the credit of the Collection Amount, which is intended to fund an amount equal to the aggregate of the Periodic Distribution Amount payable by the Trustee under the relevant Certificates on the immediately following Periodic Distribution Date (the "Required Amount") and such Required Amount will be applied by the Trustee for such purpose. In the event that the Wakala Portfolio Revenues are greater than the Required Amount, the amount of any excess shall be credited by the Servicing Agent to the Reserve Account. If the amount standing to the credit of the Collection Account on the Wakala Distribution Determination Date is insufficient to fund the Required Amount, the Servicing Agent shall apply amounts standing to the credit of the Reserve Account towards such shortfall, by paying an amount equal to the same into the Transaction Account. If having applied such amounts from the Reserve Account, there remains a shortfall, the Servicing Agent may either:
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Related to Aircraft Interest

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Asset Interest is defined in Section 2.1(b).

  • Aircraft means any machine that can derive support in the atmosphere from the reactions of the air other than the reactions of the air against the earth’s surface;

  • Periodic Interest means, with respect to any Payment Date, the periodic interest for such Payment Date as specified in the Series Supplement.

  • Transferred Interest means, at any time of determination, an undivided percentage ownership interest in (i) each and every then outstanding Receivable, (ii) all Related Security with respect to each such Receivable, (iii) all Collections with respect thereto, and (iv) other Proceeds of the foregoing, which undivided ownership interest shall be equal to the Aggregate Percentage Factor at such time, and only at such time (without regard to prior calculations). The Transferred Interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, shall at all times be equal to the Transferred Interest in each other Receivable, together with Related Security, Collections and Proceeds with respect thereto. To the extent that the Transferred Interest shall decrease as a result of a recalculation of the Aggregate Percentage Factor, the Administrative Agent on behalf of the applicable Class Investors shall be considered to have reconveyed to the Transferor an undivided percentage ownership interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, in an amount equal to such decrease such that in each case the Transferred Interest in each Receivable shall be equal to the Transferred Interest in each other Receivable.

  • aircraft type means all aircraft of the same basic design including all modifications thereto except those modifications which result in a change in handling or flight characteristics;

  • New Aircraft Has the meaning specified in the Note Purchase Agreement.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • aircraft operator means a person that operated at least 729 commercial air transport flights departing from Union airports in the reporting period or, where that person may not be identified, the owner of the aircraft;

  • Receivable Interest means, at any time, an undivided percentage ownership interest in (i) all then outstanding Pool Receivables arising prior to the time of the most recent computation or recomputation of such undivided percentage interest pursuant to Section 2.03, (ii) all Related Security with respect to such Pool Receivables, and (iii) all Collections with respect to, and other proceeds of, such Pool Receivables. Such undivided percentage interest shall be computed as

  • Leased Aircraft Has the meaning specified in the third recital to this Trust Supplement.

  • Replacement Aircraft means the Aircraft of which a Replacement Airframe is part.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Current Interest With respect to each Class of Certificates and any Distribution Date, the aggregate amount of interest accrued at the applicable Certificate Interest Rate during the related Accrual Period on the Class Principal Amount or Class Notional Amount, as applicable, of such Class prior to any distributions of principal, allocations of Realized Losses or allocations of Certificate Writedown Amounts prior to such Distribution Date.

  • Airframe means the fuselage, booms, nacelles, cowlings, fairings, airfoil surfaces including rotors (but excluding propellers and rotating airfoils of a powerplant) and landing gear of an aircraft and their accessories and controls;

  • Certificate Interest means the allocable percentage interest of a Certificate held by a Certificateholder.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Purchased Interest means, at any time, the undivided percentage ownership interest in: (a) each and every Pool Receivable now existing or hereafter arising, (b) all Related Security with respect to such Pool Receivables and (c) all Collections with respect to, and other proceeds of, such Pool Receivables and Related Security. Such undivided percentage interest shall be computed as:

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Trust Interest means an account owner's interest in the trust created by a participating trust

  • Commercial aircraft means any civil aircraft used in flight activity for compensation or for hire.

  • Retained Interest The meaning set forth in the Trust Agreement.

  • Class C Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

  • Net Interest means interest earned on a prearranged

  • Class R-5 Interest The uncertificated Residual Interest in REMIC 5.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.