Aircraft Loan definition

Aircraft Loan means the secured aircraft loan of up to $22,000,000.00 furnished by Banc of America Leasing & Capital, LLC for the purchase by an Affiliate of the Borrower of a 2010 Dassault Falcon 2000LX.
Sample 1Sample 2Sample 3
Aircraft Loan is added to Article 1.0 of the Agreement to read as follows:
Sample 1
Aircraft Loan means a loan (or similar financing arrangement, such as direct finance leases) marketed and made available for the purpose of financing or refinancing the acquisition of an aircraft, engines or other aircraft collateral, including without limitation, kits, balloons, helicopters and avionics; provided, however, that a loan (or similar financing arrangement) provided by a Person as part of an aircraft floor plan lending or home equity or mortgage loan business (or any other business not directed specifically toward financing the acquisition of aircraft by end-users) shall not be deemed an Aircraft Loan even if the proceeds of the loan (or similar financing arrangement) are used to finance or refinance the acquisition of an aircraft, unless such loan (or similar financing arrangement) has been marketed as being specifically available for use to finance or refinance the acquisition of aircraft.
Sample 1

Examples of Aircraft Loan in a sentence

  • Accor ding to SBC California:Drawing parallels between the Wireline Competition Bureau’s Virginia Arbitration Order and this proceeding necessarily would produce contested comparisons about the similarities (or lack thereof) of the models and the factual records.

  • Robin (lrobin@reedsmith.com); (d) counsel to the Prepetition Aircraft Loan, Milbank LLP, Attn: Tyson M.

  • The Strickers claimed that the appellees caused Great Plains to default on the Aircraft Loan and, because the appellees failed to obtain their release as guarantors, triggered the Strickers' obligation to pay the outstanding balance of the loan.

  • Although Great Plains and Union Planters eventually restructured the loan agreement, Union Planters again refused to release the Strickers from their personal guaranty on the Aircraft Loan.

  • The proceeds of the Prepetition Aircraft Loan were used to, among other things, pay all outstanding employee back-pay, pay certain hull insurance premiums, pay P&I insurance installment obligations, and ultimately secure a temporary 90-day DOC to restart operations.

  • Aircraft Loan and Security Agreement and related promissory note, dated October 26, 2007, by and among ABX Air, Inc.

  • When Great Plains later defaulted on the Aircraft Loan, the Strickers paid the outstanding loan balance pursuant to their personal guaranty.1The Honorable Nanette K.

  • Aircraft Loan and Security Agreement and related promissory note, dated February 16, 2007, by and among ABX Air, Inc.

  • Aircraft Loan and Security Agreement and related promissory note, dated December 19, 2007, by and among ABX Air, Inc.

  • While the Debtors continue to canvass the market for potential DIP financing, the Debtors hope to unlock incremental liquidity in the interim via consummation of a sale of the Company Aircraft collateralizing the Aircraft Loan.


More Definitions of Aircraft Loan

Aircraft Loan as defined in Section 6.01(p).
Sample 1
Aircraft Loan means the loan in the principal amount of $1,067,810.66 made by GECC to RMF on July 11, 1996, as evidenced by the Existing Aircraft Note, the liability for which loan the Borrower assumed (and from which liability RMF was released) pursuant to the Aircraft Loan Assumption Agreement.
Sample 1

Related to Aircraft Loan

  • Equipment Loan means middle market equipment loans that consist of loans made to obligors in the United States of America primarily secured by new or used transportation equipment and managed by the Equipment Finance reporting category of the Commercial Lending and Leasing division of GE Capital.

  • 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;

  • Aircraft Mortgage means each Aircraft and Engine mortgage and security agreement entered into by any Borrower in favor of the Agent evidencing the Liens in respect of such Aircraft Collateral that will secure the Obligations, in each case as amended, modified, restated, supplemented or replaced from time to time.

  • Original Loan shall have the meaning set forth in the recitals hereto.

  • aircraft engines means aircraft engines (other than those used in military, customs or police services) powered by jet propulsion or turbine or piston technology and:

  • Equipment Note means and includes any equipment notes issued under the Indenture in the form specified in Section 2.01 thereof (as such form may be varied pursuant to the terms of the Indenture) and any Equipment Note issued in exchange therefor or replacement thereof pursuant to Section 2.07 or 2.08 of the Indenture.

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • Cov-Lite Loan A Collateral Obligation the Underlying Documents for which do not (i) contain any financial covenants or (ii) require the Obligor thereunder to comply with any Maintenance Covenant (regardless of whether compliance with one or more Incurrence Covenants is otherwise required by such Underlying Documents); provided that, notwithstanding the foregoing, a Collateral Obligation shall be deemed for all purposes (other than the S&P Recovery Rate for such Collateral Obligation) not to be a Cov-Lite Loan if the Underlying Documents for such Collateral Obligation contain a cross-default or cross acceleration provision to, or such Collateral Obligation is pari passu with, another loan, debt obligation or credit facility of the underlying Obligor that contains one or more Maintenance Covenants.

  • 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;

  • Collateral Loan means a Senior Secured Loan, a Senior Secured Bond, a First Lien/Last Out Loan or a Second Lien Loan or a Participation Interest in any Senior Secured Loan, First Lien/Last Out Loan or Second Lien Loan that as of the date of acquisition by the Borrower meets each of the following criteria:

  • Wet Loan means a wet-funded first or second lien Mortgage Loan which is underwritten in accordance with the Underwriting Guidelines and does not contain all the required Mortgage Loan Documents in the Mortgage File.

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Aircraft Documents means all flight records, maintenance records, historical records, modification records, overhaul records, manuals, logbooks, authorizations, drawings and data relating to the Airframe, any Engine, or any Part, or that are required by Applicable Law to be created or maintained with respect to the maintenance and/or operation of the Aircraft.

  • Equipment Advance is defined in Section 2.1.1.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • Loan Advance The meaning specified in Section 2.2(a).

  • Aircraft Purchase Agreement Has the meaning specified in the NPA.

  • Term SOFR Loan means a Loan that bears interest at a rate based on Term SOFR.

  • Term SOFR Rate Loan means a Loan made hereunder with respect to which the interest rate is calculated by reference to Term SOFR (other than a Loan for which clause (c) of the definition of Base Rate is used to determine Base Rate).

  • Initial Loan is defined in Section 2.1.

  • PACE Loan means (x) any “Property-Assessed Clean Energy loan” or (y) any other indebtedness, without regard to the name given to such indebtedness, which is (i) incurred for improvements to the Property for the purpose of increasing energy efficiency, increasing use of renewable energy sources, resource conservation, or a combination of the foregoing, and (ii) repaid through multi-year assessments against the Property.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • Term Loan as defined in Section 2.1.

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.