Qualified Replacement Assets definition

Qualified Replacement Assets means Additional Collateral of the types described in clauses (b), (c), (d) and (e) of the definition of “Additional Collateral.”

Qualified Replacement Assets means Additional Collateral of the types described in clauses (b), (c), (d), (e), (f) and (g) of the definition of “Additional Collateral.”

Qualified Replacement Assets means assets used or useful in the business of the Loan Parties that shall be pledged as Collateral on a first lien basis.

Examples of Qualified Replacement Assets in a sentence

• For the avoidance of doubt, the Appraised Value of any Qualified Replacement Assets or Additional Collateral (other than any cash or Cash Equivalents) pledged by the Borrower or another Grantor that has not previously been included in an Appraisal shall be deemed to be zero until an Appraisal of such Qualified Replacement Assets or Additional Collateral has been delivered to the Administrative Agent.

• The Company may, within 45 days after such Sale of Collateral, grant a Secured Debt Lien on Qualified Replacement Assets to secure all current and future Secured Debt Obligations, in which event the pro forma Priority Lien Debt Value Ratio will be recalculated and such Qualified Replacement Assets will be included in the calculation of the pro forma Priority Lien Debt Value Ratio (calculated as provided in clause (4) of this Section 4.10(a)).

• The Aircraft Security Agreement(s), which may be entered into in the future by a Grantor to pledge any spare engine to a trustee (the “Security Trustee”) acting on behalf of the Collateral Agent, as Additional Collateral or Qualified Replacement Assets will contain terms to the following effect with respect to such spare engine.

• If the Grantor has elected to subject any Additional Spare Engine to the Lien of this Spare Engine Security Agreement as Additional Collateral or Qualified Replacement Assets pursuant to the Credit Agreement, the Grantor shall, at its sole expense (A) cause a Spare Engine Security Agreement Supplement describing the engine(s) that constitute such Additional Spare Engine(s) to be delivered to the Trustee 5 Revise bracketed phrase as necessary for the applicable Grantor.

• The Company may, within 45 days after such Sale of Collateral or Sale of a Grantor, grant a Secured Debt Lien on Qualified Replacement Assets to secure all current and future Secured Debt Obligations, in which event the pro forma Priority Lien Debt Value Ratio will be recalculated and such Qualified Replacement Assets will be included in the calculation of the pro forma Priority Lien Debt Value Ratio (calculated as provided in clause (4) of this Section 4.10(a)).

More Definitions of Qualified Replacement Assets

Qualified Replacement Assets means any aircraft, airframes, engines, Routes, Slots or Gate Leaseholds (a) which a Grantor owns or in which a Grantor has any rights or the power to transfer rights, (b) in which a Grantor pledges such ownership interests or rights as Collateral under the Security Documents to secure Secured Debt Obligations and (c) which are subject to a perfected Secured Debt Lien in favor of the Collateral Trustee for the benefit of the holders of the Secured Debt Obligations subject only to Permitted Liens, pursuant to arrangements reasonably satisfactory to the Collateral Trustee.

Qualified Replacement Assets means (a) in the case of Collateral comprised of Slots, Routes or Gate Leaseholds of the Borrower, Slots of United or any Grantor (which shall include any Gate Leaseholds necessary for servicing the scheduled air carrier service utilizing such Slots) or Routes of United or any Grantor (which shall include any Slots and Gate Leaseholds necessary for servicing the scheduled air carrier service authorized by such Routes); provided that FAA Slots shall be at an Eligible Airport and (b) in the case of Cure Collateral, Cure Collateral of any type (other than cash and Cash Equivalents).

Qualified Replacement Assets means Additional Collateral of any of the types described in clauses (b), (c), (e) and (f) of the definition of “Additional Collateral”.

Qualified Replacement Assets shall have the meaning specified in the Credit Agreement.

Qualified Replacement Assets means assets used or useful in the business of the Co-Issuers and the Guarantors that shall be Collateral.

Qualified Replacement Assets means (a) cash or Permitted Investments pledged to the Collateral Trustee pursuant to the applicable Security Document, (b) additional Route Authorities, Slots and/or Gate Leaseholds pledged to the Collateral Trustee pursuant to supplement(s) to the SGR Security Agreements describing such additional Route Authorities, Slots and/or Gate Leaseholds (in the case of Slots or Gate Leaseholds, associated with any additional Scheduled Service designated in such supplement(s)), and (c) aircraft or spare engines pledged to the Collateral Trustee pursuant to Aircraft Security Agreement(s).

Qualified Replacement Assets means Europe Routes, Europe Slots, Europe Gates, Latin American Routes, Latin American Slots, Latin American Gates and Primary FAA Slots that are acquired by the Borrower and (1) are pledged as Collateral under the Collateral Documents to secure Priority Lien Obligations and Junior Lien Obligations and (2) are perfected by a first priority Lien and/or mortgage (or comparable Lien) in favor of the Collateral Trustee for the benefit of the holders of the Priority Lien Obligations and Junior Lien Obligations subject only to Permitted Liens.