Examples of Engine Trusts in a sentence
Effective upon signing of this agreement, compensatory time credited toward final average salary for the purposes of reporting to the Washington State Department of Retirement Systems (DRS) will be limited to compensatory time earned in the last year of employment.
All statutory trust or grantor trust actions taken by each of the Engine Trusts have been duly authorized, and each of the Engine Trusts has not taken any action that in any respect conflicts with, constitutes a default under or results in a violation of any provision of its organizational documents or Engine Trust Agreement, as applicable.
WEST is acquiring the WEST Funding Membership Interest on the Initial Closing Date, and WEST Funding is acquiring the Remaining Engines or the Engine Interest in the Engine Trusts related to such Remaining Engines on the applicable Delivery Date, if any, solely for the purpose of investment and not with a view to, or for offer or sale in connection with, any distribution thereof.
Except for the Engine Trusts, West Acquisition does not have any Subsidiaries.
As an inducement to the Seller and WEST to enter into this Agreement, WEST Funding hereby makes the following representations and warranties as of each Delivery Date with respect to the Remaining Engines or Engine Trusts transferred to WEST Funding on such Delivery Date.
Except for the Engines and related Engine Assets, cash or other property held for the account of the Lessees as Security Deposits, and any rights arising under the Related Documents and the Lease Documents, WEST Acquisition, Facility Acquisition and the Engine Trusts have no other assets.
The trustee of the WEST Engine Trusts is a national banking association duly organized, validly existing and in good standing under the laws of the United States and has full corporate, company or other power and authority to conduct its business as and to the extent now conducted and to own, use and lease its assets.
True and correct copies of the organizational documents of each of the Engine Trusts, each as in effect on the date hereof, have been delivered by the Seller to WEST.
As of the Closing Date, WEST Acquisition has, and will continue to have full legal and beneficial title to the Engine Interests in the New Engine Trusts purported to be owned by each of them, respectively, free and clear of all Encumbrances except Permitted Encumbrances.
As an inducement to the Seller and WEST Funding to enter into this Agreement, WEST hereby makes the following representations and warranties as of the Initial Closing Date with respect to the WEST Funding Membership Interest transferred to WEST on the Initial Closing Date and as of each Delivery Date with respect to the Remaining Engines or Engine Trusts transferred to WEST Funding on such Delivery Date.