Eligible Flight Simulators definition

Eligible Flight Simulators means all of the Flight Simulators, except any Ineligible Term A Borrowing Base Collateral, owned by the Credit Parties; provided that (i) a valid and enforceable first priority Lien on such Flight Simulators (subject only to Permitted Encumbrances and other Liens approved by the Administrative Agent) shall have been granted by the applicable Credit Parties in favor of Administrative Agent for the benefit of the Secured Parties pursuant to the Loan Documents and (ii) the Liens described in clause (i) above shall be in full force and effect in favor of Administrative Agent for the benefit of the Secured Parties at such time.
Sample 1Sample 2Sample 3
Eligible Flight Simulators means all of the Flight Simulators owned by the Obligors and reflected in the most recent Collateral Value Certificate delivered by the Borrower to the Administrative Agent, except any Flight Simulators that constitute Ineligible Collateral; provided, however, that the Administrative Agent shall provide the Borrower with an Appraisal Report with respect to any Flight Simulators for which an assignment of the applicable flight simulator software to the Administrative Agent requires the consent of a third party within 30 days after the Effective Date, and if such consent is not obtained on or before June 30, 2006, the Appraised Value for such Flight Simulators shall be based on the methodologies and assumptions contained in such Appraisal Report until such consent is obtained.
Sample 1
Eligible Flight Simulators means all of the Flight Simulators owned by the Obligors and reflected in the most recent Collateral Value Certificate delivered by the Borrower to the Administrative Agent, except (a) any Flight Simulators for which an assignment of the applicable flight simulator software to the Administrative Agent requires the consent of a third party and such consent is not obtained and (b) any Flight Simulators that constitute Ineligible Collateral.
Sample 1

Examples of Eligible Flight Simulators in a sentence

  • The Administrative Agent shall have the right to modify or eliminate Reserves against Eligible Accounts, Eligible Unbilled Accounts and Eligible Refundable Ticket Accounts, Eligible Real Estate, Eligible Aircraft, Eligible Engines, Eligible Spare Parts, Eligible Ground Service Equipment, Eligible Flight Simulators and Eligible Tooling from time to time in its reasonable credit judgment.

  • Term Loan Administrative Agent shall have the right to modify or eliminate Reserves against Eligible Real Estate, Eligible Aircraft, Eligible Spare Parts, Eligible Ground Service Equipment, Eligible Flight Simulators and Eligible Tooling from time to time in its reasonable credit judgment.


More Definitions of Eligible Flight Simulators

Eligible Flight Simulators means all of the Flight Simulators owned by the Credit Parties; PROVIDED that (i) a valid and enforceable first priority Lien on such Flight Simulators (subject only to Permitted Encumbrances and other Liens approved by Term Loan Administrative Agent) shall have been granted by the applicable Credit Parties in favor of Collateral Agent for the benefit of the Term Loan Secured Parties pursuant to the Security Agreement, (ii) a valid and enforceable second priority Lien on such Flight Simulators (subject only to Permitted Encumbrances and other Liens approved by Revolving Facility Administrative Agent) shall have been granted by the applicable Credit Parties in favor of Collateral Agent for the benefit of the Revolving Facility Secured Parties pursuant to the Security Agreement and (iii) the Liens described in CLAUSES (I) AND (II) above be in full force and effect in favor of Collateral Agent for the benefit of the Secured Parties at such time.
Sample 1
Eligible Flight Simulators means all flight simulators and flight training devices (collectively, for purposes of this definition, "flight simulators") of the Loan Parties identified in the appraisals by the Approved Appraiser (the "Primary Simulators") and such additional flight simulators as the Borrower may from time to time request from the Administrative Agent and the Collateral Agent to be considered Eligible Flight Simulators for purposes of this Agreement; provided, however, that no flight simulator shall be considered to be an Eligible Flight Simulator at any time unless it meets the following criteria at such time:
Sample 1
Eligible Flight Simulators. Eligible Parts", "Eligible Real Estate", "Eligible Slots", "Eligible Gates" or "Eligible Receivables";
Sample 1

Related to Eligible Flight Simulators

  • Ferry Flight means the movement of an aircraft without payload to position the aircraft to perform a flight or upon completion of a flight to position the aircraft to a point required by the carrier.

  • Base Load Generation Resource means a Generation Capacity Resource that operates at least 90 percent of the hours that it is available to operate, as determined by the Office of the Interconnection in accordance with the PJM Manuals.

  • Unmanned aircraft system means an unmanned aircraft and associated elements, including communication links and components that control the unmanned aircraft that are required for the pilot in command to operate safely and efficiently in the national airspace system.

  • Spares means a part or a sub-assembly or assembly for substitution which is ready to replace an identical or similar part or sub-assembly or assembly including a component or an accessory;

  • Engine Manufacturer means CFM International, Inc.

  • Marijuana testing facility means an entity licensed to analyze and certify the safety and potency of marijuana.

  • Flight means any flight demonstration, flight test, taxi test, or other flight made in the performance of this contract, of for the purpose of safeguarding the aircraft, or previously approved in writing by the Contracting Officer.

  • Eligible customer-generator means a customer-generator whose net energy metering system for renewable resources, cogeneration, fuel cells, and microturbines meets all applicable safety and performance standards.

  • Passenger car means every motor vehicle other than a motorcycle designed and used primarily for

  • Planned Financed Generation Capacity Resource means a Planned Generation Capacity Resource that, prior to August 7, 2015, has an effective Interconnection Service Agreement and has submitted to the Office of the Interconnection the appropriate certification attesting achievement of Financial Close.

  • Passenger area means the area designed to seat the driver and passengers while a motor vehicle is in operation and any area that is readily accessible to the driver or a passenger while in his or her seating position, including but not limited to any type of glove or storage compartment accessible to passengers or driver.

  • Airport Ground Support Equipment means vehicles and equipment used at an airport to service aircraft between flights.

  • Customer-generator means a user of a net metering system.

  • Eligible generator means a developer of a base load or mid-

  • Cannabis testing facility means an entity registered by

  • Exempt Wholesale Generator has the meaning provided in 18 C.F.R. Section 366.1.

  • Manufactured dwelling means a residential trailer, a mobile home or a manufactured

  • Aviation gasoline means fuel designed for use in the operation of aircraft other than jet aircraft,

  • Cabinet x-ray system means an x-ray system with the x-ray tube installed in an enclosure independent of existing architectural structures except the floor on which it may be placed. The cabinet x-ray system is intended to contain at least that portion of a material being irradiated, provide radiation attenuation, and exclude personnel from its interior during generation of radiation. Included are all x-ray systems designed primarily for the inspection of carry-on baggage at airline, railroad, and bus terminals, and in similar facilities. An x-ray tube used within a shielded part of a building, or x-ray equipment that may temporarily or occasionally incorporate portable shielding, is not considered a cabinet x-ray system.

  • Passenger Services means, those railway passenger services provided by or on behalf of the Beneficiary pursuant to the permission to use track granted in accordance with the Track Access Agreement;

  • Service Equipment means any equipment, Software, systems, cabling and facilities provided by or on behalf of Verizon and used to facilitate provision of the Services at a Customer Site. Ownership of the Service Equipment does not pass to Customer. Service Equipment does not include Verizon Facilities.

  • Stinger-steered automobile or watercraft transporter means an automobile or watercraft transporter

  • embedded generator means a generator who is not a market participant and whose generation facility is connected to a distribution system of a distributor, but does not include a generator who consumes more electricity than it generates;

  • Transit Passenger means a passenger who arrives at the airport in an aircraft and departs from the airport in the same aircraft, where such an aircraft is operating a through flight transiting the airport, and includes a passenger in transit through the airport who has to depart in a substituted aircraft because the aircraft on which the passenger arrived has been declared unserviceable.

  • Yearly (1/Year) sampling frequency means the sampling shall be done in the month of September, unless specifically identified otherwise in the effluent limitations and monitoring requirements table.

  • Fixed wing turbine powered aircraft means an aircraft that: