Mortgaged Aircraft definition

Mortgaged Aircraft means each Aircraft subject to an Aircraft Mortgage. “Mortgaged Engine” shall mean each engine subject to an Aircraft Mortgage. “Mortgaged Propeller” shall mean each propeller subject to an Aircraft Mortgage. “Mortgaged Property” shall mean Real Property subject to a Real Property Mortgage. “Mortgaged Spare Parts” shall mean Spare Parts subject to a Spare Parts Mortgage.
Sample 1
Mortgaged Aircraft has the meaning set forth in Section 3.21(c). ------------------
Sample 1
Mortgaged Aircraft the aircraft, engines and spare engines listed on Schedule 1.1C and owned by a Loan Party, as to which the Administrative Agent for the benefit of the Lenders shall be granted a Lien pursuant to the Aircraft Mortgages.
Sample 1

Examples of Mortgaged Aircraft in a sentence

  • Agent may at its option apply insurance proceeds, in whole or in part, to (i) repair or replace the Senior Mortgaged Aircraft or any part thereof or (ii) satisfy any of the Senior Tranche Secured Obligations in accordance with the Credit Agreement.

  • Debtor shall not take any action to register or consent to the registration of any prospective or current International Interest or other interest (or any amendment, modification, supplement, subordination or subrogation thereof), in relation to the Senior Mortgaged Aircraft, with the International Registry without the prior written consent of Agent, which may be withheld in Agent’s sole discretion.

  • Until the exercise of Agent’s power of sale or foreclosure upon any Senior Mortgaged Aircraft pursuant to Section 11 of this Agreement, Debtor may possess the Senior Mortgaged Aircraft and use it in any lawful manner not inconsistent with this Agreement or the Loan Documents.

  • In connection with the execution and delivery of this Agreement to Agent by Debtor, Debtor shall execute and deliver to Agent an IDERA for each and every Senior Mortgaged Aircraft, as applicable, made subject to this Agreement, in the form of Exhibit “A” hereto, which will be filed with the FAA as an attachment to either this Agreement or any amendment or supplement to this Agreement as applicable within five (5) Business Days of such aircraft becoming a Senior Mortgaged Aircraft.

  • Without limiting the generality of the foregoing, Debtor shall secure and maintain: (i) all-risk aircraft hull and engine insurance (including, without limitation, with respect to engine or part thereof while removed from the Senior Mortgaged Aircraft and foreign object damage insurance); and (ii) confiscation, appropriation and war risk and allied perils (including, without limitation, terrorism) insurance and hijacking insurance.

  • To secure the prompt and complete payment of the Senior Tranche Obligations and amounts payable pursuant to clause first of Section 2.16(a) of the Credit Agreement (collectively, “Senior Tranche Secured Obligations”), Debtor grants to Agent, on behalf of and for the benefit of the Senior Tranche Secured Parties solely in their capacities as Agent and Senior Tranche Lenders, a security interest and an International Interest in the Senior Mortgaged Aircraft (the “Senior Tranche Collateral”).

  • In the case of any other Disposition permitted by clause (i) of the first sentence of this Section 5(a), Agent agrees to promptly discharge its International Interest, and any interest related thereto, with the International Registry in the Senior Mortgaged Aircraft that is the subject of such Disposition and to execute a release to be filed with the FAA for recordation which releases Agent’s right, title and interest in and to such Senior Mortgaged Aircraft.

  • Debtor will promptly, upon Agent’s written request and at Debtor’s sole cost and expense, execute, or otherwise authenticate, any document, record or instrument necessary or reasonably advisable for filing, recording, protecting or perfecting the interest of Agent in the Senior Mortgaged Aircraft, and to establish and protect Agent’s rights and remedies under this Agreement, the other Loan Documents or otherwise with respect to the Senior Mortgaged Aircraft.

  • Agent or its agents may examine and inspect the Senior Mortgaged Aircraft, wherever located, at any reasonable time upon prior written notice to Debtor, on land and in flight.

  • Other than as expressly provided herein, Debtor shall not file any filings with the FAA (including any corrective, amendment or termination filings) relating to the Senior Mortgaged Aircraft or register any related interests with the International Registry created hereby, without Agent’s prior written consent.


More Definitions of Mortgaged Aircraft

Mortgaged Aircraft. Has the meaning specified in the recitals to this Trust Supplement.
Sample 1
Mortgaged Aircraft means (a) each Aircraft identified as a Mortgaged Aircraft on Schedule 14(a) to the Perfection Certificate dated the Closing Date and (b) each Aircraft which shall be subject to an Aircraft Mortgage delivered after the Closing Date pursuant to Section 5.12.
Sample 1
Mortgaged Aircraft has the meaning set forth in the second recital to the Note Purchase Agreement.
Sample 1

Related to Mortgaged Aircraft

  • Aircraft means any machine that can derive support in the atmosphere from the reactions of the air other than the reactions of the air against the earth’s surface;

  • Unmanned aircraft means any aircraft operating or designed to operate autonomously or to be piloted remotely without a pilot on board;

  • State aircraft means an aircraft, other than a commercial aircraft, owned and operated by the government of any country or the government of a colony, dependency, province, state, territory or municipality of a country;

  • Leased Aircraft Has the meaning specified in the third recital to this Trust Supplement.

  • Owned Aircraft Has the meaning specified in the third recital to this Trust Supplement.

  • Airframe means the fuselage, booms, nacelles, cowlings, fairings, airfoil surfaces including rotors (but excluding propellers and rotating airfoils of a powerplant) and landing gear of an aircraft and their accessories and controls;

  • 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.

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Eligible Aircraft has the meaning set forth in the second recital to the Note Purchase Agreement.

  • Mortgaged Vessel means, at any relevant time, any Vessel which is at such time subject to a Mortgage and a Vessel shall, for the purposes of this Agreement, be regarded as a Mortgaged Vessel as from the date on which the Mortgage of that Vessel has been executed and registered in accordance with this Agreement until whichever shall be the earlier of (i) the payment in full of the amount required to be paid to the Agent pursuant to clause 4.3 or 4.5 following the Total Loss or sale respectively of such Vessel and (ii) the end of the Facility Period;

  • Substitute Aircraft Has the meaning specified in the NPA.

  • Commercial aircraft means any civil aircraft used in flight activity for compensation or for hire.

  • Replacement Aircraft means the Aircraft of which a Replacement Airframe is part.

  • airframes means airframes (other than those used in military, customs or police services) that, when appropriate aircraft engines are installed thereon, are type certified by the competent aviation authority to transport:

  • large aircraft means an aircraft, classified as an aeroplane with a maximum take-off mass of more than 5 700 kg, or a multi-engined helicopter;

  • Closing Date Mortgaged Property as defined in Section 3.1(h).

  • Pledged Asset Mortgage Loan A Mortgage Loan as to which, at the time of origination, a Letter of Credit was issued in favor of the initial holder of such Mortgage Loan.

  • Mortgaged Premises means any real property which shall now or hereafter be subject to a Notes Mortgage.

  • Mortgaged Ship means a Ship which is subject to a Mortgage at the relevant time and, in the plural, means all of them;

  • Fixed wing turbine powered aircraft means an aircraft that:

  • Mortgaged Real Property means (a) each Real Property identified on Schedule 1.01(a) hereto and (b) each Real Property, if any, which shall be subject to a Mortgage delivered after the Original Closing Date pursuant to Section 5.11(d) or pursuant to Section 5.11(d) of the Original Credit Agreement or the Prior Credit Agreement.

  • Aircraft Mortgage means each Aircraft and Engine mortgage and security agreement entered into by any Borrower in favor of the Agent evidencing the Liens in respect of such Aircraft Collateral that will secure the Obligations, in each case as amended, modified, restated, supplemented or replaced from time to time.

  • Underlying Mortgaged Property With respect to each Co-op Loan, the underlying real property owned by the related residential cooperative housing corporation.

  • Civil aircraft means any aircraft other than a public aircraft.

  • New Aircraft Has the meaning specified in the Note Purchase Agreement.

  • aircraft type means all aircraft of the same basic design including all modifications thereto except those modifications which result in a change in handling or flight characteristics;