Examples of Initial Leases in a sentence
We hereby consent to (i) the reference to our firm in the "The Initial Aircraft and Initial Leases - Bankruptcy considerations relating to "true sale" and "consolidation issues" and "Taxation - U.S. Federal Income Tax Consequences - Tax Characterization of Aircraft Finance as a Partnership" sections of the prospectus which forms a part of the Registration Statement, and (ii) the filing of this letter as an exhibit to the Registration Statement.
Such right of first offer shall be subordinate to all rights granted in any Initial Leases, which rights relate to the First Offer Space and are set forth in the Initial Leases upon execution thereof, including, without limitation, any renewal, expansion, first offer, first refusal, first negotiation and other rights, regardless of whether such rights are executed strictly in accordance with their respective terms or pursuant to a lease amendment or a new lease (the “Superior Rights”).
All such tenants under Initial Leases or Intervening Leases, are collectively referred to as the “Superior Right Holders”.
The acquisition of the Initial Assets and interests in the Initial Leases, the creation, execution and issuance of the Initial Notes, the execution and issue or delivery by the Issuer and each Issuer Subsidiary of the Related Documents executed by it and the performance by each of them of their obligations hereunder and thereunder and the arrangements contemplated hereby and thereby to be performed by each of them have been duly authorized by each of them.
Statoil argues that all of the Initial Leases either expired, were transferred to Statoil, or both.