Unencumbered Aircraft means (a) each Aircraft of the Borrower or any Restricted Subsidiary which is owned entirely by the Borrower and/or a Restricted Subsidiary and listed on Schedule 1.1A hereto, as such schedule may be amended, restated or otherwise modified from time to time pursuant to the delivery of the Quarterly Covenant Compliance Report and (b) neither such Aircraft, nor, in the case such Aircraft is owned by the Borrower or a Restricted Subsidiary, any Equity Interest in such Restricted Subsidiary, is subject to any Lien that secures any Indebtedness of the Borrower or such Restricted Subsidiary.
Unencumbered Aircraft. Has the meaning specified in the recitals to this Trust Supplement.
Unencumbered Aircraft has the meaning set forth in the fourth recital to the Note Purchase Agreement.
Examples of Unencumbered Aircraft in a sentence
If a Borrower sells or otherwise disposes of Unencumbered Aircraft and does not grant to Agent a security interest in any Replacement Aircraft, it shall repay the Advances in an amount equal to the Aircraft Collateral Value (at the time of such sale or other disposition) of the Unencumbered Aircraft that was the subject of the sale or other disposition.
If the appraised value of the Replacement Aircraft is less than 118% of the Aircraft Collateral Value of the Unencumbered Aircraft that was sold or otherwise disposed of, the Borrower shall repay Advances in an amount equal to the difference between (x) 118% of the Aircraft Collateral Value of the Unencumbered Aircraft that was sold or otherwise disposed of and (y) the appraised value of the Replacement Aircraft.
In addition, as soon as available and in any event within forty-five (45) days after the end of each Fiscal Quarter a schedule listing (i) each Aircraft owned by any Borrower indicating whether or not each such Aircraft is an Unencumbered Aircraft and (ii) any Aircraft which was disassembled for parts during such Fiscal Quarter including the HeliValue$ mid-life value of such Aircraft.
More Definitions of Unencumbered Aircraft
Unencumbered Aircraft means all Aircraft owned by a Borrower or a Restricted Subsidiary that are currently unencumbered by a Lien securing repayment of Outside Financing, and all future Aircraft purchased by a Borrower or a Restricted Subsidiary without using the proceeds of Outside Financing, and including, as of the date of this Agreement, the Aircraft listed on Schedule 1.1(a).
Unencumbered Aircraft means (a) each Aircraft of the Borrower or any Subsidiary which is owned entirely by the Borrower and/or a Subsidiary and listed on Schedule 1.1A hereto, as such schedule may be amended, restated or otherwise modified from time to time pursuant to the delivery of the Quarterly Covenant Compliance Report and (b) neither such Aircraft, nor, in the case such Aircraft is owned by the Borrower or a Subsidiary, any Equity Interest in such Subsidiary, is subject to any Lien that secures any Indebtedness of the Borrower or such Subsidiary. “Unencumbered Asset Ratio” means, as of any date of determination for the Borrower and its Subsidiaries calculated on a consolidated basis, without duplication, the ratio of (a) the sum of (i) the net book value (as determined by the Borrower in accordance with GAAP) of all Unencumbered Aircraft, plus (ii) unrestricted cash and Cash Equivalents to (b) Consolidated Total Debt that is not secured by a Lien over any assets of the Borrower and/or its Subsidiaries. “USD LIBOR” means the London interbank offered rate for U.S. dollars. “Voting Stock” of any Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in the election of the Board of Directors of such Person. “Weighted Average Life to Maturity” means, when applied to any Indebtedness, Disqualified Stock or preferred stock, as the case may be, at any date, the quotient obtained by dividing: (1) the sum of the products of the number of years from the date of determination to the date of each successive scheduled principal payment of such Indebtedness or redemption or similar payment with respect to such Disqualified Stock or preferred stock multiplied by the amount of such payment, by (2) the sum of all such payments. “Wholly-Owned Subsidiary” of any Person means a Subsidiary of such Person, 100% of the outstanding Capital Stock or other ownership interests of which (other than directors’ qualifying shares) shall at the time be owned by such Person or by one or more Wholly-Owned Subsidiaries of such Person. “Write-Down and Conversion Powers” means (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-in Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-in Legislation Schedule, and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority un...
Unencumbered Aircraft means all Aircraft listed on Exhibit C hereof, --------------------- --------- which Exhibit C may be amended from time to time as set forth in Section 4.3(b). ---------
Unencumbered Aircraft means all Aircraft listed on Schedule 2 hereof, which Schedule may be amended from time to time by notice from Borrowers to Agent.
Unencumbered Aircraft means (a) each Aircraft of the Borrower or any Subsidiary which is owned entirely by the Borrower and/or a Subsidiary and listed on Schedule 1.1A hereto, as such schedule may be amended, restated or otherwise modified from time to time pursuant to the delivery of the Quarterly Covenant Compliance Report and (b) neither such Aircraft, nor, in the case such Aircraft is owned by the Borrower or a Subsidiary, any Equity Interest in such Subsidiary, is subject to any Lien that secures any Indebtedness of the Borrower or such Subsidiary.
Unencumbered Aircraft means all Aircraft described on Schedule --------------------- -------- 1 hereto. -
Unencumbered Aircraft means all Aircraft owned by a Borrower or a Consolidated Subsidiary that are currently unencumbered by a Lien securing repayment of Outside Financing, and all future Aircraft purchased by a Borrower or a Consolidated Subsidiary without using the proceeds of Outside Financing, and including, as of the date of this Agreement, the Aircraft listed on Schedule 1. "USA Patriot Act" shall mean the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56, as the same has been, or shall hereafter be, renewed, extended, amended or replaced.