Portfolio Aircraft definition

Portfolio Aircraft means, as of any date, each Eligible Aircraft owned by an Aircraft Owning Entity and as to which each of the conditions set forth in Sections 4.01 and 4.02, as applicable, have been satisfied or waived in accordance with the terms of this Agreement.
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Portfolio Aircraft has the meaning as defined in the Facility Agreement, as each is described on Schedule 7 hereto, as the same may be amended, supplemented, replaced or otherwise modified from time to time.
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Portfolio Aircraft means, together, the Aircraft and the Other Aircraft.
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Examples of Portfolio Aircraft in a sentence

  • In the case of each Grantor, such Grantor shall maintain with respect to the Collateral owned or held by it the security interests created by this Agreement as perfected security interests having at least the priorities described in Section 4.02 and 4.03 (provided that, with respect to any Portfolio Aircraft or any Lease, only the Perfection Requirements are required to be satisfied) and shall defend such security interests against the claims and demands of all Persons whomsoever.

  • The Borrower shall provide the Administrative Agent within the period of sixty (60) days preceding each Appraisal Update Date (but, in no event later than two (2) Business Days preceding each Appraisal Update Date), with three (3) CMV Appraisals and three (3) BV Appraisals of each Portfolio Aircraft.

  • Each of the parties hereto are committed and obligated, subject to the terms and conditions set forth herein, to effect the financing of the Portfolio Aircraft as set forth herein.

  • The parties hereto irrevocably and unconditionally agree that the Security Trustee is the sole person to whom the proceeds payable under the Group Contingency Insurances in respect of a total loss of a Portfolio Aircraft shall be payable.

  • The Borrower shall be in compliance with the Loan-to-Value Ratio and the Administrative Agent shall have received a duly completed, executed and delivered LTV Certificate certifying that the aggregate Appraised Value of all Portfolio Aircraft immediately after giving effect to the release is sufficient to cause the Loan-to-Value Ratio to be less than or equal to the applicable LTV Threshold.

  • The Borrower shall have received an amount in cash from the Guarantor (whether through Subordinated Indebtedness or otherwise) sufficient, when taken together with the Aggregated Requested Release Amount, to pay the purchase price of each Portfolio Aircraft being acquired with the proceeds of such Aggregated Requested Release Amount and to pay any other fees and expenses payable by the Borrower on such Release Date.

  • The coverage and terms (including endorsements, deductibles and self-insurance arrangements) of any insurance maintained with respect to any Portfolio Aircraft not subject to a Lease shall be consistent with the Standard.

  • This Agreement sets forth the common terms of a warehouse facility (the “Facility”) pursuant to which certain secured senior loans are to be made and notes issued to finance or refinance in part the purchase price for the Portfolio Aircraft (such term, and other capitalized terms used herein, have the meanings defined below) and sets forth the terms and conditions for effecting such financing.

  • In addition, in the event that a Total Loss of a Portfolio Aircraft occurs after the date on which the Borrower or any of its Subsidiaries, enters into an agreement to lease or re-lease of any Portfolio Aircraft and prior to the date on which the subject lease or re-lease, as the case may be, is effected as aforesaid, in determining whether such disposition would be in violation of the Concentration Limits, such Total Loss shall be deemed not to have occurred.

  • Xxxxxxx, General Counsel If to ASC, to: c/o GE Energy Financial Services GE EFS Portfolio Aircraft Services Corporation 000 Xxxx Xxxxx Xxxx Xxxxxxxx, XX 00000 Fax: (000) 000-0000 Attn: General Counsel with a copy to (which shall not constitute notice): Bracewell & Xxxxxxxx LLP 000 Xxxxxxxxx Xxxxxx, Xxxxx 0000 Xxxxxxx, XX 00000 Fax: (000) 000-0000 Attn: G.

Related to Portfolio Aircraft

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

  • 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;

  • 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;

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

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

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

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

  • Substitute Aircraft Has the meaning specified in the NPA.

  • 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;

  • 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.

  • 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.

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

  • Alternative fuel vehicle means a vehicle designed to be capable of running on at least one type of fuel that is either gaseous at atmospheric temperature and pressure, or substantially non-mineral oil derived.

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

  • Fixed wing turbine powered aircraft means an aircraft that:

  • Portfolio Asset means an asset of an investment fund;

  • Fleet means one or more commercial vehicles.

  • 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 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;

  • Flex fuel vehicle means a vehicle with one fuel storage system that can run on different mixtures of two or more fuels.

  • Dual-Fuel Engine means an engine that is designed to simultaneously operate with a liquid fuel and a gaseous fuel, both fuels being metered separately, the consumed amount of one of the fuels relative to the other one being able to vary depending on the operation;

  • Bi-fuel vehicle means a vehicle with two separate fuel storage systems that can run part-time on two different fuels and is designed to run on only one fuel at a time;

  • 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.

  • Portfolio Assets means all Loan Assets owned by the Borrower, together with all proceeds thereof and other assets or property related thereto, including all right, title and interest of the Borrower in and to:

  • aircraft operator means a person that operated at least 729 commercial air transport flights departing from Union airports in the reporting period or, where that person may not be identified, the owner of the aircraft;

  • Special purpose equipment means equipment which is used only for research, medical, scientific, or other technical activities. Examples of special purpose equipment include microscopes, x-ray machines, surgical instruments, and spectrometers.