Obsolete Parts definition

Obsolete Parts has the meaning specified for such term in Section 8(c) of the Lease.

Obsolete Parts has the meaning given such term in Section 3.4(d) of the Mortgage.

Obsolete Parts has the meaning specified for such term in Section 7.03(c) of the Indenture.

Examples of Obsolete Parts in a sentence

• In addition, the value (but not the utility, condition or airworthiness) of the Airframe or any Engine may be reduced by the value, if any, of Obsolete Parts which shall have been removed.

• In addition, the value (but not the utility, condition or airworthiness) of any Airframe or any Engine or Spare Engine may be reduced by the value, if any, of Obsolete Parts which shall have been removed.

• In addition, the fair market value (but not the utility) of an Airframe, Engine or Spare Engine may be reduced by the fair market value, if any, of Obsolete Parts which shall have been removed so long as the aggregate fair market value of all Obsolete Parts which shall have been removed and not replaced with respect to any Aircraft shall not exceed $500,000 in the aggregate.

• In addition, the value (but not the utility) of any Airframe or Engine may be reduced by the value of Obsolete Parts which shall have been removed so long as the aggregate value of all Obsolete Parts which shall have been removed and not replaced shall not exceed $500,000.

• The Seller shall take appropriate actions to mitigate Obsolete Parts in order to maximize the availability and use of authentic, originally designed, and qualified parts.

More Definitions of Obsolete Parts

Obsolete Parts means factory parts which are not listed in the most current manufacturer's wholesale price book or, if listed therein, are valued at ZERO DOLLARS ($0), parts which are not returnable to the manufacturer (as defined by the Franchiser), parts which have been in stock of Seller more than one (1) year and/or parts which are in excess of a one (1) year supply, or parts indicated as discontinued, and broken or damaged parts, regardless of whether listed in the most current manufacturer's wholesale price book.

Obsolete Parts shall have the meaning given in Section 2.02(c) of this Mortgage.

Obsolete Parts is defined in Section D of Annex C to the Lease.

Obsolete Parts means Parts that Lessee has determined in its reasonable judgment to be no longer suitable or appropriate for use on the Airframe or such Engine.

Obsolete Parts has the meaning set forth in section 3.3(j) of the Security Agreement.

Obsolete Parts has the meaning set forth in Section 3.4(c) of the Security Agreement.

Obsolete Parts shall have the meaning set forth in Section 8(c) hereof.