Examples of Cape Town Aircraft Protocol in a sentence
Purchase Price per Litre (e.g. $/L15)Using purchase price per litre (L15) as a base unit of measure, enter the purchase price excluding any British Columbia Provincial / Dedicated Motor Fuel Tax, Carbon Tax, Federal Excise Tax, and Goods and Services Tax to the responsible person of the reportablefuel imported during the reporting period.
Article XI.2 of the Aircraft Protocol to the Convention on International Interests In Mobile Equipment on Matters Specific to Aircraft Equipment, done at Cape Town on 16 November 2001 (Cape Town Aircraft Protocol) requires an insolvency administrator or debtor to “give possession” of an aircraft object.
A declaration that the Notice dated 16 June 2020 given by the Third Respondent to the Second Applicant did not discharge the First or Third Respondent’s obligation under Article XI of the Cape Town Aircraft Protocol to “ give possession” of the “aircraft objects” identified in Schedule 2.
The purported notice failed to give effect to the obligations of the Third Respondent or the First Respondent to give possession within the meaning of the Cape Town Aircraft Protocol.
The Applicants seeking the delivery up of the aircraft objects in the manner set out in Schedule 3 “shall be deemed to be exercised in a commercially reasonable manner” in accordance with Article IX.3 of the Cape Town Aircraft Protocol, because the exercise of that remedy is in conformity with a provision of the agreement between the parties (see the clause 18 of the General Terms Engine Lease Agreement as incorporated into each engine lease).
At the time of ratification, the United States made declarations under Articles XIX and XXX of the Cape Town Aircraft Protocol.
In any event, the limits of the debtor’s Cape Town Aircraft Protocol rights are still determined by the parties’ bargain: ie “ in accordance with the agreement” (Article XVI.1).
This was borne out, in particular, by the considerable level of acceptance achieved already by the Cape Town Aircraft Protocol.
On 16 June 2020 by letter from its solicitors, Norton Rose Fulbright, the Second Applicants wrote to the solicitors for the Third Respondent, Clayton Utz, insisting that the Third Respondent comply with its obligation under Article XI of the Cape Town Aircraft Protocol to “give possession” of the engines and equipment.
The resolution of that issue also informs whether the Respondents are under a continuing obligation to “preserve the aircraft object and maintain it and its value in accordance with the [lease obligations]” under Article XI.5 of the Cape Town Aircraft Protocol.