Initial Appraisals definition

Initial Appraisals shall have the meaning specified in Section 9.1(u).

Initial Appraisals means, collectively, the report of (i) MBA setting forth the Appraised Value of the Pledged FAA Slots and related Pledged Gate Leaseholds included in the Collateral on the Closing Date and (ii) ICF setting forth the Appraised Value of the Pledged Routes and related Pledged Foreign Slots and Pledged Gate Leaseholds included in the Collateral on the Closing Date, each as delivered to the Administrative Agent by the Borrower pursuant to Section 4.01.

Initial Appraisals means, collectively, the report of (i) MBA setting forth the Appraised Value of the Pledged FAA Slots and related Pledged Gate Leaseholds and (ii) BK Associates, Inc. setting forth the Appraised Value of the Pledged Routes and related Pledged Foreign Slots and Pledged Gate Leaseholds, in each case, included in the Collateral on the Closing Date, as delivered to the Administrative Agent by the Borrower pursuant to Section 4.01.

Examples of Initial Appraisals in a sentence

• Administrative Agent shall have received the following due diligence materials for the Properties: (i) the Initial Appraisals, (ii) summaries of Insurance Policies together with certificates evidencing coverage, (iii) UCC Searches, and (iv) Title Searches, all in form and substance acceptable to Administrative Agent.

• In addition to the Initial Appraisals, the Administrative Agent shall annually obtain, at Borrower’s expense, an updated or replacement Acceptable Appraisal of each Borrowing Base Property.

• The Administrative Agent shall have received (x) the Initial Appraisals in form reasonably satisfactory to the Administrative Agent, and (y) an Officer’s Certificate from a Responsible Officer of the Borrower demonstrating that using the Appraised Value listed in the Initial Appraisals, on the Closing Date and immediately after giving effect to the Extensions of Credit to be made on such date, the Collateral Coverage Ratio shall be no less than 1.6 to 1.0.

• The Administrative Agent shall have received the Initial Appraisals and such Initial Appraisals shall be in form reasonably satisfactory to the Administrative Agent and demonstrate that, on the Closing Date and after giving effect thereto, the Co-Borrowers and the Guarantors shall be in compliance on a pro forma basis with Section 6.09(a).

• If, for any reason, the original receiver of the information does not promptly respond to the concern, the reporting individual should directly report the concern to the next person(s) in authority (as outlined above).

More Definitions of Initial Appraisals

Initial Appraisals means Acceptable Appraisals delivered to the Administrative Agent with respect to each of the Properties at or prior to the Closing Date.

Initial Appraisals means the appraisals prepared by an Approved Appraiser and delivered to CA CIB on June 6, 2017.

Initial Appraisals means the reports of MBA dated November 1, 2023 as delivered to the Administrative Agent by the Borrower pursuant to Section 4.01(d).

Initial Appraisals has the meaning specified in Section 3.1(i) (Conditions Precedent to Initial Loans and Letters of Credit).

Initial Appraisals means, collectively, the report of (a) BK Associates, Inc., dated as of February 14, 2022, setting forth the Appraised Value of the Cargo Business Assets of the Issuers and the Guarantors; (b) BK Associates, Inc., dated as of February 11, 2022, setting forth the Appraised Value of the Frequent Flyer Program Assets of the Issuers and the Guarantors; (c) Ocean Tomo, LLC, dated as of February 17, 2022, setting forth the Appraised Value of Intellectual Property of the Issuers and the Guarantors; (d) mba Aviation, dated as of December 23, 2021, setting forth the Appraised Value of certain Routes in Brazil; (e) ICF SH&E Limited, dated as of December 17, 2021, setting forth the Appraised Value of certain Slots and Routes; (f) mba Aviation, dated as of December 23, 2021, setting forth the Appraised Value of certain Routes in Peru; (g) mba Aviation, dated as of December 23, 2021, setting forth the Appraised Value of certain Routes in Chile; (h) mba Aviation, dated as of December 23, 2021, setting forth the Appraised Value of certain Routes in Colombia; (i) mba Aviation, dated as of December 17, 2021, setting forth the Appraised Value of certain Slots; and (j) AVITAS, Inc., dated as of February 8, 2022, setting forth the Appraised Value of certain Aircrafts and Engines, in each case as delivered to the Collateral Trustee by the Chilean Issuer pursuant to Section 4.15 hereof.

Initial Appraisals means the Appraisals of the Collateral delivered on or prior to the Closing Date.

Initial Appraisals means the Appraisals of the Collateral delivered pursuant to Section 4.03.