Optional Modification definition

Optional Modification shall have the meaning specified in Section 8.2 of the Facility Lease.

Optional Modification means a modification or improvement of a Railcar, the cost of which is capitalized in accordance with U.S. GAAP, that (a) is not a Required Modification and (b) complies with the criteria set forth in Section 5.04(z)(ii).

Optional Modification shall have the meaning specified in Section 9.2 of the Lease.

Examples of Optional Modification in a sentence

• Except as otherwise provided herein, all Parts (other than Removable Parts) incorporated or installed in or attached to the Aircraft as a result of such Optional Modification shall, without further act, become subject to this Mortgage.

• For the avoidance of doubt, Owner may make alterations in the passenger configuration of the Aircraft and such alterations shall not constitute an Optional Modification.

• In the case of any Optional Modification, the Issuer prior to undertaking such Optional Modification shall have determined, based upon consultation with the Servicer, that the Optional Modification is not expected to decrease the marketability of the Portfolio Railcar as a result of the expenditure on such Optional Modification.

• In the case of any Optional Modification, the Issuer prior to undertaking such Optional Modification shall have determined, based upon consultation with the Manager, that the Optional Modification is not expected to decrease the value or marketability of the Portfolio Railcar as a result of the expenditure on such Optional Modification.

• If either Party wishes to make any Manufacturing Change other than a Required Modification (an “Optional Modification”), then such Party shall notify the other Party in writing of such proposed Optional Modification.

More Definitions of Optional Modification

Optional Modification as defined in Section 4.4(d) of the Mortgage. Optional Redemption Triggering Event: as defined in Section 2.10 of the Mortgage Original Amount: the stated original principal amount of such Equipment Note and, with respect to all Equipment Notes, the aggregate stated original principal amounts of all Equipment Notes.

Optional Modification is defined in section 3.04(d) of the Mortgage.

Optional Modification has the meaning set forth in section 3.3(j) of the Security Agreement.

Optional Modification has the meaning set forth in Section 6.08(d).

Optional Modification has the meaning set forth in Section 7.2(a) of --------------------- the Agreement.

Optional Modification shall have the meaning specified in Section 8.2 of the Project Lease.

Optional Modification as defined in Section 9.2 of the O&M Agreement.