Common use of Designated Locations Clause in Contracts

Designated Locations. The Company shall keep the Pledged Spare Parts at one or more of the Designated Locations and, except as otherwise permitted under Sections 3.02(a), 3.02(b)(1) or 3.02(b)(3) of this Mortgage, shall not suffer or permit any Pledged Spare Part to be stored at any other location. The Company shall not suffer or permit any Pledged Spare Parts at any Designated Location to be commingled with any Excluded Parts (it being acknowledged that, so long as the Company complies with Section 3.02(d)(1) hereof, Excluded Parts which are stored on a separate shelf from Pledged Spare Parts and in a separate storage bin or other storage unit from any Pledged Spare Parts shall not be considered as having been commingled with Pledged Spare Parts even though such Excluded Parts are present at the same Designated Location as the Pledged Spare Parts). The Company shall ensure that each Designated Location is adequate for warehousing and storing the Pledged Spare Parts, and at all times that the Current Market Value of Rotables included in the Pledged Spare Parts which are stored at a Secure Location is no less than eighty percent (80%) of the Current Market Value of all the Rotables included within the Collateral. The Company shall obtain from each landlord, mortgagee or other Person from time to time holding title to or a security or leasehold interest in a Designated Location a waiver in a form reasonably satisfactory to the Security Trustee of any right or interest in the Pledged Spare Parts stored at such Designated Location. The Company shall add as a Designated Location (in accordance with this Section 3.02(b)(2)) any location in the United States where Pledged Spare Parts may be stored by the Company from time to time. Upon adding a location that is to become a Designated Location, the Company will furnish to the Security Trustee the following: (i) a Supplemental Mortgage duly executed by the Company, identifying each location that is to become a Designated Location and specifically subjecting the Pledged Spare Parts at such location to the Lien of this Mortgage; (ii) an Opinion of Counsel, dated the date of execution of said Supplemental Mortgage, stating that said Supplemental Mortgage has been duly filed for recording in accordance with the provisions of the Federal Aviation Act, and either: (a) no other filing or recording is required in any other place within the United States in order to perfect the Lien of this Mortgage on the Pledged Spare Parts held at the Designated Locations specified in such Supplemental Mortgage under the laws of the United States, or (b) if any such other filing or recording shall be required that said filing or recording has been accomplished in such other manner and places, which shall be specified in such Opinion of Counsel, as are necessary to perfect the Lien of this Mortgage with respect to such Pledged Spare Parts; and (iii) an Officer's Certificate stating that in the opinion of the Officer executing the Officer's Certificate, all conditions precedent provided for in this Mortgage relating to the subjection of such property to the Lien of this Mortgage have been complied with.

Designated Locations. The Company shall keep the Pledged Spare Parts at one or more of the Designated Locations and, except as otherwise permitted under Sections 3.02(a), 3.02(b)(1) or 3.02(b)(3) of this Mortgage, shall not suffer or permit any Pledged Spare Part to be stored at any other location. The Company shall not suffer or permit any Pledged Spare Parts at any Designated Location to be commingled with any Excluded Parts (it being acknowledged that, so long as the Company complies with Section 3.02(d)(1) hereof, Excluded Parts which are stored on a separate shelf from Pledged Spare Parts and in a separate storage bin or other storage unit from any Pledged Spare Parts shall not be considered as having been commingled with Pledged Spare Parts even though such Excluded Parts are present at the same Designated Location as the Pledged Spare Parts). The Company shall ensure that each Designated Location is adequate for warehousing and storing the Pledged Spare Parts, and at all times that the Current Market Value of Rotables included in the Pledged Spare Parts which are stored at a Secure Location is no less than that eighty percent (80%) of the Current Market Value of all the Rotables included within the Collateral, such Current Market Value being calculated in accordance with the Senior Mortgage (with the provisions of Senior Mortgage relating to such calculation being incorporated herein by this reference solely for the purpose of making such calculation). The Company shall obtain from each landlord, mortgagee or other Person from time to time holding title to or a security or leasehold interest in a Designated Location a waiver in a form reasonably satisfactory to the Security Trustee of any right or interest in the Pledged Spare Parts stored at such Designated Location. The Company shall add as a Designated Location (in accordance with this Section 3.02(b)(2)) any location in the United States where Pledged Spare Parts may be stored by the Company from time to time. At any time that the Company, acting pursuant to the Senior Mortgage, adds a location that is to become a "Designated Location" under the Senior Mortgage, the Company shall concurrently add such location as Designated Location under this Mortgage. Upon adding a location that is to become a Designated Location, the Company will furnish to the Security Trustee the following: (i) a Supplemental Mortgage duly executed by the Company, identifying each location that is to become a Designated Location and specifically subjecting the Pledged Spare Parts at such location to the Lien of this Mortgage; (ii) an Opinion of Counsel, dated the date of execution of said Supplemental Mortgage, stating that said Supplemental Mortgage has been duly filed for recording in accordance with the provisions of the Federal Aviation Act, and either: (a) no other filing or recording is required in any other place within the United States in order to perfect the Lien of this Mortgage on the Pledged Spare Parts held at the Designated Locations specified in such Supplemental Mortgage under the laws of the United States, or (b) if any such other filing or recording shall be required that said filing or recording has been accomplished in such other manner and places, which shall be specified in such Opinion of Counsel, as are necessary to perfect the Lien of this Mortgage with respect to such Pledged Spare Parts; and (iii) an Officer's Certificate stating that in the opinion of the Officer executing the Officer's Certificate, all conditions precedent provided for in this Mortgage relating to the subjection of such property to the Lien of this Mortgage have been complied with.

Designated Locations. The Company shall keep the Pledged Spare Parts in a Secure Location at one or more of the Designated Locations and, except as otherwise permitted under Sections 3.02(a), 3.02(b)(1) or 3.02(b)(33.02(b)(1) of this Mortgage, shall not suffer or permit any Pledged Spare Part to be stored at any other location. The Company shall not suffer or permit any Pledged Spare Parts at any Designated Location to be commingled with any Excluded Parts (it being acknowledged that, so long as the Company complies with Section 3.02(d)(1) hereof, Excluded Parts which are stored on a separate shelf from Pledged Spare Parts and in a separate storage bin or other storage unit from any Pledged Spare Parts shall not be considered as having been commingled with Pledged Spare Parts even though such Excluded Parts are present at the same Designated Location as the Pledged Spare Parts). The Company shall ensure that each Designated Location is adequate for warehousing and storing the Pledged Spare Parts. With respect to each Designated Location that is leased (including any ground lease and any lease of any temporary buildings or the like) or subleased by the Company, the Company shall have obtained from the Company’s immediate landlord, and at if requested by the Secured Party, from each landlord in the chain back to the owner of the real property and the owner of the improvements (whether permanent or temporary, if separate from the real property), a waiver of any and all times right or interest that the Current Market Value of Rotables included such Person may otherwise have in the Pledged Spare Parts which are stored at a Secure Location is no less than eighty percent and such Person’s consent, if applicable, to access by the Secured Party and/or any Lender or any representative of any of them to the premises in connection with the exercise of any rights or remedies under or pursuant to this Mortgage (80%) of the Current Market Value of all the Rotables included within the Collateral. The Company shall obtain from in each landlordcase, mortgagee or other Person from time to time holding title to or a security or leasehold interest in a Designated Location a waiver in a form reasonably and substance satisfactory to the Security Trustee Secured Party). In addition, with respect to each Designated Location owned by the Company or any of its Affiliates, if any, the Company shall have obtained from each other Person that may have an interest in the real property and/or the improvements (whether permanent or temporary improvements) at such location (whether as mortgagee or otherwise) a waiver of any and all right or interest that such Person may otherwise have in the Pledged Spare Parts stored at and such Designated LocationPerson’s consent, in the event that such Person shall have obtained possession and control of the relevant premises from the Company or the Company’s Affiliate (whether upon foreclosure or other exercise of remedies by such Person or otherwise), to access by the Secured Party and/or any Lender or any representative of any of them to the premises in connection with the exercise of any rights or remedies under or pursuant to this Mortgage (in each case, in form and substance satisfactory to the Secured Party). The Company shall add as a Designated Location (in accordance with this Section 3.02(b)(2)) any location in the United States where Pledged Spare Parts may be stored by the Company from time to time. All Designated Locations shall be in the United States. Upon adding a location that is to become a Designated Location, the Company will furnish to the Security Trustee Secured Party the following: (i) a Supplemental Mortgage duly executed by the Company, identifying each location that is to become a Designated Location and specifically subjecting the Pledged Spare Parts at such location to the Lien of this Mortgage; (ii) an Opinion of Counsel, dated the date of execution of said Supplemental Mortgage, stating that said Supplemental Mortgage has been duly filed for recording in accordance with the provisions of the Federal Aviation Act, and either: (a) no other filing or recording is required in any other place within the United States in order to perfect the Lien of this Mortgage on the Pledged Spare Parts held at the Designated Locations specified in such Supplemental Mortgage under the laws of the United States, or (b) if any such other filing or recording shall be required that said filing or recording has been accomplished in such other manner and places, which shall be specified in such Opinion of Counsel, as are necessary to perfect the Lien of this Mortgage with respect to such Pledged Spare Parts; and (iii) an Officer's Certificate stating that in the opinion of the Officer executing the Officer's Certificate, all conditions precedent provided for in this Mortgage relating to the subjection of such property to the Lien of this Mortgage have been complied with.