Examples of Qualified Exchange Agreement in a sentence
Basic Rent for the period from the Commencement Date to the first day of the second month next following the Commencement Date shall be paid on the date provided as the first payment date under the Qualified Exchange Agreement (as defined in the Lease Modification Agreement) with respect to this Lease and shall be calculated on a prorata basis.
The City will not enter into a Qualified Exchange Agreement which is a Parity Obligation or with respect to any Parity Obligations without first providing notice of such Qualified Exchange Agreement to Fitch and S&P and without first receiving written confirmation from Fitch and S&P that entering into such Qualified Exchange Agreement, in and of itself, would not result in a reduction of the rating then assigned to the Bonds by Fitch and S&P.
Thus the QEAT owns the replacement aircraft until the sale of the relinquished aircraft occurs, at which time title to both aircraft is trans- ferred into the hands of their rightful owners.In either a front-end form of a reverse like-kind exchange or back-end reverse like-kind exchange, the fiction of a direct exchange is maintained through the use of the Qualified Exchange Agreement Titleholder.
If the City for any reason is rendered incapable of fulfilling its obligations (but not including any obligation of the City under any Qualified Exchange Agreement) under the Bond Ordinance; or (d) Default of Any Provision.