Residual Agreement definition
Examples of Residual Agreement in a sentence
On the expiration of the Basic Term or a Renewal Term in the event Lessor shall have irrevocably exercised its option to sell the Aircraft at such expiration, and shall be simultaneously exercising its rights, pursuant to the Residual Agreement or a Successor Residual Agreement, the Aircraft shall be returned with all Aircraft Documentation.
Without limiting the foregoing, Lessee agrees to fully cooperate with any requests by the Manufacturer under the Residual Agreement or any Person who is the counterparty to any Successor Residual Agreement in connection with the remarketing of the Aircraft.
In addition and notwithstanding the foregoing, Lessee agrees to (i) perform all of Owner Participant's obligations under Section 3(c) of the Residual Agreement or any comparable provision of any Successor Residual Agreement and (ii) fully cooperate with any inspections of the Aircraft and any books, record or logs related thereto, conducted by or behalf of by the Manufacturer under the Residual Agreement or any Person who is the counterparty to any Successor Residual Agreement.
Lessor authorizes Lessee, with the participation of Lessor, to negotiate such Half-Life Adjustments and amount directly with the Manufacturer or any Person who is the counterparty to any Successor Residual Agreement.
Lessee further agrees to pay to Lessor on the expiration of the Term the amount deducted from the Agreed Residual Value (as such term is used in the Residual Agreement or any comparable term is used in any Successor Residual Agreement) pursuant to clause (y) in the definition of Agreed Residual Value.
The term "Ancillary Agreement(s)" shall mean the EchoStar Agreements, the Kudelski Agreements, the Escrow Agreement, and the Residual Agreement.
In view of the fact that the required return conditions of the Aircraft for purposes of the Residual Agreement are identical to Lessee's obligations herein, Lessee agrees that any determination of Half-Life Adjustment under the Residual Agreement or any Successor Residual Agreement shall be binding on Lessee for purposes of Exhibit H to this Lease.
In view of the fact that the required return condition of the Aircraft for purposes of the Residual Agreement are identical to Lessee's obligations herein, Lessee agrees that any determination of Half-Life Adjustment under the Residual Agreement or any Successor Residual Agreement shall be binding on Lessee for purposes of Exhibit H to this Lease.
Lessee's right to renew this Lease at the end of the Basic Term is subject to the condition precedent that the Owner Participant shall have agreed in writing with Lessee not to demand payment of the Payment Amount (as defined in the Residual Agreement) pursuant to Section 4(a) of the Residual Agreement within the period specified therein (unless an Event of Default shall thereafter occur and be continuing).
The Originator, upon learning of any failure on the part of the Originator or FPF to observe or perform in any material respect any covenant, representation or warranty of the Originator or FPF set forth in this Agreement, the Revolving Loan Agreement, the Residual Agreement or the Premium Receivable Servicing Agreement, as applicable, shall promptly notify FPF and the Lender of such failure.