Domestic Aircraft Collateral NOLV definition

Domestic Aircraft Collateral NOLV means, as of any date of determination, the aggregate net orderly liquidation value (as set forth on a recent appraisal conducted in accordance with Section 4.7 hereof) of all Aircraft Collateral registered in the United States. For the avoidance of doubt, such value shall be indicated in Dollars.

Examples of Domestic Aircraft Collateral NOLV in a sentence

  • Domestic Aircraft Collateral NOLV shall not, at any time, be less than $75,000,000; provided, that if Domestic Aircraft Collateral NOLV is at any time less than $75,000,000, Borrowers shall have a period of fifteen (15) Business Days to pledge additional Aircraft Collateral to Agent such that the Domestic Aircraft Collateral NOLV following such pledge is at least $75,000,000.

  • In the event the outstanding principal balance of the Term Loans at such time exceeds forty percent (40%) of the Domestic Aircraft Collateral NOLV, then, promptly upon Agent’s demand for same, Borrowers shall make a mandatory prepayment of the outstanding principal installments of the Term Loan in the inverse order of the maturities thereof so as to eliminate such excess.

Related to Domestic Aircraft Collateral NOLV

  • Additional Collateral Any of the following held, in addition to the related Mortgaged Property, as security for a Mortgage Loan: (i) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as security for the repayment of such Mortgage Loan, (ii) third-party guarantees, and (A) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as collateral for such guarantee or (B) any mortgaged property securing the performance of such guarantee, or (iii) such other collateral as may be set forth in the Series Supplement.

  • Additional Collateral Loan Each Mortgage Loan that is supported by Additional Collateral.

  • Security Agreement Collateral means all "Collateral" as defined in the Security Agreement.

  • Additional Collateral Documents as defined in the Base Intercreditor Agreement.

  • U.S. Collateral Agreement means that certain Second Amended and Restated US Collateral Agreement of even date herewith executed by the US Credit Parties in favor of the Administrative Agent, for the ratable benefit of the US Secured Parties and the Canadian Secured Parties.

  • Additional Collateral Mortgage Loan Each Mortgage Loan identified as such in the Mortgage Loan Schedule.

  • Pledge Agreement Collateral means all "Collateral" as defined in the Pledge Agreement.

  • Collateral Value The appraised value of a Mortgaged Property based upon the lesser of (i) the appraisal (as reviewed and approved by the Seller) made at the time of the origination of the related Mortgage Loan, or (ii) the sales price of such Mortgaged Property at such time of origination. With respect to a Mortgage Loan the proceeds of which were used to refinance an existing mortgage loan, the appraised value of the Mortgaged Property based upon the appraisal (as reviewed and approved by the Seller) obtained at the time of refinancing.

  • Initial Collateral Amount means $1,000,000,000, which equals the sum of (i) the Class A Note Initial Principal Balance, (ii) the Class B Note Initial Principal Balance, (iii) the Class C Note Initial Principal Balance and (iv) the Initial Excess Collateral Amount.

  • Credit Agreement Collateral Documents means the Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and each other agreement entered into in favor of the Credit Agreement Collateral Agent for the purpose of securing any Credit Agreement Obligations.

  • 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.

  • Basic Collateral Agency Agreement means the Amended and Restated Basic Collateral Agency Agreement, dated as of March 1, 2009, among Daimler Trust, the Administrative Agent, Daimler Title Co., as collateral agent, and MBFS USA, as lender and as servicer.

  • Acceptable Collateral means any of the following assets of Borrower, if (x) held in or credited to any Collateral Account subject to a first priority Lien under the applicable Security Agreement and (y) the Collateral Requirement has been satisfied with respect thereto:

  • Security Amount means an amount equal to:

  • Inventory Formula Amount means (i) the lesser of (x) 75% of the Value of Eligible Inventory and (y) 85% of the NOLV Percentage of the Value of Eligible Inventory plus (ii) the lesser of (x) the lesser of (1) 75% of the Value of Eligible In-Transit Inventory and (2) 85% of the NOLV Percentage of the Value of the Eligible In-Transit Inventory and (y) $10,000,000.

  • Supplemental Collateral Agent has the meaning assigned to that term in subsection 9.1B.

  • Applicable Collateral Agent means (i) until the earlier of (x) the Discharge of Credit Agreement and (y) the Non-Controlling Representative Enforcement Date, the Credit Agreement Collateral Agent and (ii) from and after the earlier of (x) the Discharge of Credit Agreement and (y) the Non-Controlling Representative Enforcement Date, the Collateral Agent for the Series of First Lien Obligations represented by the Major Non-Controlling Representative.

  • Credit Agreement Collateral Agent has the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Eligible Collateral means, with respect to a party, the items, if any, specified as such for that party in Paragraph 13.

  • Collateral Loan means a loan, debt obligation, debt security or participation therein acquired by the Borrower.

  • Hedge Collateral Defined in Section 5.3(b).

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

  • Collateral Charge-Offs shall have the meaning specified in subsection 4.06(c).

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