Physical Inspection Report means with respect to each Railcar, a physical inspection report of an independent inspector mutually acceptable to the Borrower and the Agent, which report shall set forth, among other things, the total number of hours and miles with respect to such Railcar.
Physical Inspection Report means a report prepared by a qualified independent third party engineer, architect or other real estate inspector selected by the General Partner concerning the physical condition of any Proposed Qualified Asset.
Physical Inspection Report means a physical inspection report from an Independent Physical Inspector, with respect to each Aircraft, which report shall set forth, among other things, the total number of hours and cycles with respect to each Airframe and each related Engine, in form and level of detail consistent with industry standards and reasonably satisfactory to the Agent.
Examples of Physical Inspection Report in a sentence
The Agent may, subject to restrictions and procedures on inspection of the Portfolio Railcars in any applicable Lease, conduct a physical inspection of any Portfolio Railcar or otherwise obtain a Physical Inspection Report with respect thereto at any time after the occurrence and during the continuance of an Event of Default, and the Borrower will pay the reasonable fees and expenses of such professionals in accordance with Section 11.04.
More Definitions of Physical Inspection Report
Physical Inspection Report means with respect to each Railcar, a physical inspection report of an independent inspector mutually acceptable to the Borrower and the Agent, which report shall set forth, among other things, any material unrepaired damage or maintenance deficiencies and the total number of hours and miles with respect to such Railcar. “Plan Assets” means “plan assets” within the meaning of U.S. Department of Labor regulations located at 29 C.F.R. Section 2510.3-101, as modified by Section 3(42) of ERISA. “Portfolio” means, collectively, all of the Portfolio Railcars and the Portfolio Leases. “Portfolio Lease” means a Lease with respect to a Portfolio Railcar. “Portfolio Railcar” means a Railcar which is owned by the Borrower and which has been funded in whole or in part by a Loan hereunder or included as a Replacement Railcar or otherwise added to the Portfolio in accordance with Sections 2.02(a) and (b) and not released from the Lien of the Security Agreement pursuant to Section 8.12 of the Security Agreement or otherwise. “Prime Rate” means the rate of interest per annum last quoted by The Wall Street Journal as the “Prime Rate” in the U.S. or, if The Wall Street Journal ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such 747656567 17557858 43 Fifth Amended and Restated Warehouse Loan Agreement
Physical Inspection Report means with respect to each Railcar, a physical inspection report of an independent inspector mutually acceptable to the Borrower and the Agent, which report shall set forth, among other things, any material unrepaired damage or maintenance deficiencies and the total number of hours and miles with respect to such Railcar. “Portfolio” means, collectively, all of the Portfolio Railcars and the Portfolio Leases. “Portfolio Lease” means a Lease with respect to a Portfolio Railcar. “Portfolio Railcar” means a Railcar which is owned by the Borrower and which has been funded in whole or in part by a Loan hereunder or included as a Replacement Railcar or otherwise added to the Portfolio in accordance with Sections 2.02(a) and (b) and not released from the Lien of the Security Agreement pursuant to Section 8.12 of the Security Agreement or otherwise. “Prohibited Nations Acts” means the Trading with the Enemy Act, 50 U.S.C. app. §§ 1-44 (2006), the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701- 1707 (2006), the USA Patriot Act, the Cuban Liberty and Democratic Solidarity Act (Xxxxx-Xxxxxx Act), Pub. L. No. 104-114, 110 Stat. 785 (1996), related regulations issued by OFAC or the U.S. Department of State, including the Cuban Assets Control Regulations in each case as may be amended or updated from time to time, and any similar acts or governmental actions of the United States to the extent applicable (including but not limited to economic or financial sanctions, sectoral sanctions, trade embargoes and anti-terrorism laws). “Protected Party” means, without duplication, the Agent, the Collateral Agent, the Depository, each Creditor, each Support Party and any participant, successor or permitted assign of any thereof. “Purchase Price” means, with respect to any Railcar, the aggregate purchase price payable by the Borrower under the applicable Sale Agreement for such Railcar, as such purchase price is certified in the applicable Request. “Railcar” means a covered xxxxxx car, tank car, boxcar, flat car or other railcar or unit of railroad rolling stock (other than a locomotive), including (i) any and all Parts relating thereto and (ii) any Replacement Railcars and any and all Parts relating thereto, together with any and all accessions, additions, improvements and replacements from time to time incorporated or installed in any item thereof and together with all options, warranties, service contracts, program services, test rights, maintenance rights, suppor...
Physical Inspection Report among the existing definitions set forth in such Section in alphabetical order to read as follows:
Physical Inspection Report means, with respect to any Aircraft, a physical inspection report (which includes a summary of the overall condition of such Aircraft and a specifications report) completed either (x) no earlier than three (3) months prior to the Advance Date for such Aircraft or (y) no earlier than 18 months prior to the Advance Date for such Aircraft (or the date of the most recent heavy maintenance event for such Aircraft) and accompanied by a certification reasonably satisfactory to the Administrative Agent as to the absence of any material adverse change to the condition of such Aircraft since the date of such report.”