Permitted Aircraft definition

Permitted Aircraft means any aircraft (x) for which the Borrower or any Subsidiary Loan Party has a 100% ownership interest, free and clear of all security interests or liens in favor of any person other than the Collateral Agent except for any Permitted Lien the holder of which has entered into a Recognition of Rights Agreement on or prior to the date that is twenty (20) days after any Spare Engines are installed on any such aircraft (or such later date as the Collateral Agent may agree in its sole discretion) or (y) (A) owned by a third party lessor and leased to the Borrower or any Subsidiary Loan Party, where such third party lessor has entered into a Recognition of Rights Agreement on or prior to the date that is twenty (20) days after any Spare Engines are installed on any such aircraft (or such later date as the Collateral Agent may agree in its sole discretion) and (B) registered in the United States or in another jurisdiction that is acceptable to the Collateral Agent (in its sole discretion).
Sample 1
Permitted Aircraft means either a Permitted Narrow-body Aircraft or a Permitted Wide-body Aircraft.
Sample 1
Permitted Aircraft means hobbyist, heritage or recreational aircraft, but shall not include:
Sample 1

Examples of Permitted Aircraft in a sentence

  • The assessment or collection of such fees shall not create any right for Tenant to continue to use the Premises for the storage of any aircraft that is not a Permitted Aircraft, nor shall it be deemed a waiver by Landlord of any rights hereunder.

  • Tenant's right to store a passenger vehicle inside Tenant's hangar is conditioned upon Tenant's maintaining of an ownership interest in the Permitted Aircraft that is registered with Airport staff for storage in Tenant's hangar.

  • Tenant represents that he/she has an ownership interest in said Permitted Aircraft.

  • Only for that period of time when the Permitted Aircraft is in use, Tenant may temporarily store no more than four (4) passenger vehicles inside Tenant's hangar.

  • If Tenant stores, or permits the storage, of any aircraft that is not a Permitted Aircraft, at the Premises, such aircraft shall be subject to assessment of overnight transient aircraft fees and/or impoundment, at the discretion of the Airport Director.

  • Neither any Aircraft Collateral Owner nor any lessee under an Aircraft Lease nor any Disclosed Sublessee has granted to any person other than the Agent an International Interest, national interest, Prospective International Interest, Lien, de-registration power of attorney or a de-registration and export request authorization with respect to any Aircraft, Airframe, Engine or Spare Engine included as Aircraft Collateral other than any Permitted Aircraft Liens.

  • In addition, any insurance deemed necessary to protect the Permitted Aircraft and/or personal property against fire, theft or damage, or as may otherwise be required by this Agreement, is the sole responsibility of Permittee.

  • The Lenders hereby consent to the release by the Collateral Agent of liens of record filed with the FAA or other liens which the Collateral Agent may acquire on any Acquired 1110 Asset or Acquired Aircraft Asset in connection with any Permitted Aircraft Financing, as the case may be, permitted by the Credit Agreement as amended by this Amendment.

  • The Permitted Aircraft and personal property may be sold to satisfy the lien if Permittee is in default of this Agreement and has not cured such default in accordance with any applicable cure period.

  • GAS shall have a possessory lien in accordance with A.R.S. §33-1022 or any other applicable statute from the date rent is unpaid and due, in the Permitted Aircraft and personal property parked or stored pursuant to the provisions of this Agreement.


More Definitions of Permitted Aircraft

Permitted Aircraft means either a Permitted Narrow-body Aircraft or a Permitted Wide-body Aircraft;
Sample 1

Related to Permitted Aircraft

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

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

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

  • Permitted Facility means a facility authorized by the general permit to discharge total nitrogen or

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

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

  • Operation of aircraft or “operate aircraft” means the use of aircraft for the purpose of air navigation, including the navigation or piloting of aircraft. Any person who causes or authorizes the operation of aircraft, whether with or without the right of legal control in the capacity of owner, lessee, or otherwise, of the aircraft, is engaging in the operation of 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;

  • 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;

  • Substitute Aircraft Has the meaning specified in the NPA.

  • 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.

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

  • Fixed wing turbine powered aircraft means an aircraft that:

  • Replacement Airframe means an Airbus A321 aircraft or a comparable or improved model of Manufacturer (except (a) Engines or engines from time to time installed thereon and any and all Parts related to such Engine or engines and (b) Excluded Equipment), that shall have been made subject to the Lien of the Indenture pursuant to Section 7.05 thereof, together with all Parts relating to such aircraft.

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

  • Public aircraft means an aircraft used exclusively in the service of any government or of any political subdivision thereof, including the government of any state, territory, or possession of the United States, or the District of Columbia, but not including any government-owned aircraft engaged in carrying persons or property for commercial purposes.

  • Permitted Installation means the activities and the limits to those activities described in Table 1.1.1 of this Permit.

  • Permitted Asset Sale means any Asset Sale that is permitted under Section 6.8.

  • Special purpose spray adhesive means an aerosol adhesive that meets any of the following definitions:

  • Permitted Assets means any and all properties or assets that are used or useful in a Permitted Business (including Capital Stock in a Person that is a Restricted Subsidiary and Capital Stock in a Person whose primary business is a Permitted Business that shall become a Restricted Subsidiary immediately upon the acquisition of such Capital Stock by the Issuer or by a Restricted Subsidiary, but excluding any other securities).

  • Building, structure, facility, or installation means all of the pollutant-emitting activities which belong to the same industrial grouping, are located on one or more contiguous or adjacent properties, and are under the control of the same person (or persons under common control) except the activities of any vessel. Pollutant-emitting activities shall be considered as part of the same industrial grouping if they belong to the same major group (i.e., which have the same two-digit code) as described in the Standard Industrial Classification Manual, 1972, as amended by the 1977 Supplement (U.S. Government Printing Office stock numbers 4101-0066 and 003-005-00176-0, respectively).

  • Permitted Lessee means the lessee under a Permitted Lease.

  • Permitted Lease means a lease permitted under Section 4.02(b) of the Trust Indenture.

  • Permitted Lock-Up Agreement means an agreement (the “Lock-up Agreement”) between a Person and one or more holders of Voting Shares (each holder referred to herein as a “Locked-up Person”), the terms of which are publicly disclosed and a copy of which is made available to the public, including the Corporation, pursuant to which such holders agree to deposit or tender Voting Shares to a Take-over Bid (the “Lock-up Bid”) made by the Person or any of such Person’s Affiliates or Associates or any other Person referred to in clause (iii) of the definition of Beneficial Owner, whether such Lock-up Bid is made before or after the Lock-up Agreement is signed, provided that: (i) the Lock-up Agreement permits the Locked-up Person to terminate its agreement to deposit or tender to or to not withdraw Voting Shares from the Lock-up Bid in the event a “Superior Offer” is made to the Locked-up Person. For purposes of this subsection, a “Superior Offer” is any Take-over Bid, amalgamation, arrangement or similar transaction pursuant to which the cash equivalent value of the consideration per share to be received by holders of the Voting Shares under such transaction (the “Superior Offer Consideration”) is greater than the cash equivalent value per share to be received by holders of Voting Shares under the Lock-up Bid (the “Lock-up Bid Consideration”). Notwithstanding the foregoing, the Lock-up Agreement may require that the Superior Offer Consideration must exceed the Lock-up Bid Consideration by a specified percentage before such termination rights take effect, provided such specified percentage is not greater than 7%. For greater clarity, the Lock-up Agreement may contain a right of first refusal or require a period of delay to give the Person who made the Lock-up Bid an opportunity to match a higher price in another Take-over Bid or transaction or similar limitation on the Locked-up Person’s right to withdraw Voting Shares from the agreement, so long as the limitation does not preclude the exercise by the Locked-up Person of the right to withdraw Voting Shares during the period of the other Take-over Bid or transaction; and (ii) no “break-up” fees, “top-up” fees, penalties, expenses, or other amounts that exceed, in the aggregate, the greater of:

  • Permitted Amount means, on any date, an amount equal to 3.5 times Adjusted EBITDA as of the most recent fiscal quarter for which financial statements of the Company are internally available immediately preceding such date.

  • Disposal facility means a facility or part of a facility at which hazardous waste is intentionally placed into or on any land or water, and at which waste will remain after closure. The term disposal facility does not include a corrective action management unit into which remediation wastes are placed.