Lessor Subsidiary definition

Lessor Subsidiary means any special purpose Person or vehicle (including trusts) which (a) is organized under the laws of Delaware, Connecticut, Utah, Ireland, Bermuda, Australia, France, Switzerland, the United Kingdom, Luxembourg, the Cayman Islands or any other jurisdiction reasonably acceptable to the Collateral Agent (provided that such other jurisdiction is a Contracting State), (b) holds legal title to (or is a conditional buyer under a title reservation agreement (within the meaning of the Cape Town Convention)) a single Pool Aircraft, (c) 100% of the Equity Interest therein is held by a Borrower Party or a Guarantor Party and the Collateral Agent has a first priority perfected security interest (subject only to Permitted Liens) in the related Equity Collateral and (d) either (x) is an Initial Lessor Subsidiary and an initial Grantor under the Mortgage or (y) has delivered a Borrower Party Request and Assumption Agreement and a grantor supplement to the Mortgage and such other documents as may be required to become a party to any other applicable Security Document.

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Lessor Subsidiary means any special purpose Person or vehicle (including trusts) which (a) is organized or incorporated under the laws of Delaware, Connecticut, Utah, Ireland, Bermuda, Australia, France, Switzerland, Singapore, the United Kingdom, Luxembourg, the Cayman Islands or any other jurisdiction reasonably acceptable to the Collateral Agent (provided that such other jurisdiction is a Contracting State), (b) holds legal title to (or is a conditional buyer under a title reservation agreement (within the meaning of the Cape Town Convention)) any Pool Aircraft, (c) 100% of the Equity Interest therein is held by a Borrower Party or a Guarantor Party and the Collateral Agent has a first priority perfected security interest (subject only to Permitted Liens) in the related Equity Collateral and (d) has delivered a Borrower Party Request and Assumption Agreement and a grantor supplement to the Mortgage and such other documents as may be required to become a party to any other applicable Security Document.

Lessor Subsidiary means any special purpose Person or vehicle (including trusts) which (a) is organized under the laws of Delaware, California, Utah, Ireland or any other jurisdiction reasonably acceptable to the Collateral Agent, (b) holds legal title to a single Pool Aircraft and (c) 100% of the Equity Interest therein is held by a Subsidiary Holdco.

Examples of Lessor Subsidiary in a sentence

Except as provided in Section 2.10(d) or (f), no Borrower Party shall sell, transfer or otherwise dispose of any of its Equity Interest in any Intermediate Lessee or any Lessor Subsidiary.
A Lessor Subsidiary Owns each Pool Aircraft, and a Borrower Party or Guarantor Party holds 100% of the Equity Interest in each Intermediate Lessee and each Lessor Subsidiary.
Each relevant Lessor Subsidiary has good and marketable legal title to its respective Pool Aircraft, free and clear of Liens other than Permitted Liens.
Each Grantor undertakes with the Collateral Agent to enter into an a charge, pledge or equivalent security agreement, in respect of, inter alia, the Equity Interest held by it of any Lessor Subsidiary and any Intermediate Lessee which is incorporated or organized under the laws of any other acceptable jurisdiction (permitted in accordance with the Credit Agreement).
Each Grantor undertakes with the Collateral Agent to enter into an Irish Charge Over Shares in respect of, inter alia, the Equity Interests held by it of any Lessor Subsidiary and any Intermediate Lessee which is incorporated under the laws of Ireland.
If a Lessor Subsidiary’s status is terminated as such, the Collateral Agent’s security interests in, and Liens on, the assets of and the Equity Interest in such Lessor Subsidiary shall be automatically released.
In addition, the Grantors shall not, and shall cause each Lessor Subsidiary and each Intermediate Lessee to not, create or suffer to exist any Lien upon or with respect to any of the Pool Aircraft Collateral other than Permitted Liens.
With respect to each Financed Property constituting Unimproved Real Property, the Borrower or the applicable Lessor Subsidiary shall commence construction on each such Financed Property within (**) months of the date the applicable Financed Property enters the Property Pool.
As of each Release Date, (i) each relevant Subsidiary Holdco holds 100% of the Equity Interest in the relevant Lessor Subsidiary and (ii) if applicable, the relevant Subsidiary Holdco holds 100% of the Equity Interest in the relevant Intermediate Lessee.
Except as expressly provided in Section 2.10 or Section 5.17, no Transaction Party shall sell, transfer or otherwise dispose of any Pool Aircraft or Lessor Subsidiary unless the requirements in Section 5.16(a) shall be satisfied after giving pro forma effect to such sale, transfer or other disposition.

More Definitions of Lessor Subsidiary

Lessor Subsidiary means any Subsidiary Guarantor which is a Restricted Subsidiary and a Wholly Owned Subsidiary and owns a Financed Property, including without limitation, Baron Development.