Event of Loss With Respect to Aircraft Sample Clauses

The 'Event of Loss with Respect to Aircraft' clause defines what constitutes a loss event involving an aircraft under the agreement. Typically, this clause outlines scenarios such as damage, destruction, theft, or requisition of the aircraft, and may specify the procedures to follow if such an event occurs, including notification requirements and the responsibilities of the parties. Its core practical function is to clearly establish the circumstances that trigger insurance claims, contractual remedies, or obligations, thereby ensuring clarity and reducing disputes in the event of an aircraft loss.
Event of Loss With Respect to Aircraft. Upon the occurrence of an Event of Loss with respect to the Aircraft, Lessee shall forthwith (and in any event within 15 days after such occurrence) give Lessor and each Participant written notice of such Event of Loss. On or before the Business Day next preceding the earlier of (i) the 180th day following the date of the occurrence of such Event of Loss, or (ii) 15 days following the receipt of insurance proceeds with respect to such occurrence, Lessee shall pay to Lessor, in the manner and in funds of the type specified in Section 3.5, (A) the Stipulated Loss Value for the Aircraft, (B) all unpaid Basic Rent or Renewal Rent accrued through and including the date of payment of Stipulated Loss Value and (C) (without duplication) any other Rent which is due and payable through and including the date of such payment. Upon payment in full of Stipulated Loss Value and all such accrued Basic or Renewal Rent pursuant hereto, (A) the obligation of Lessee to pay Basic or Renewal Rent due after the date of such payment shall terminate (but Lessee shall remain liable for all payments of Supplemental Rent due through and including the date of such payment of Stipulated Loss Value), (B) the Term for the Aircraft shall end, and (C) Lessor will Transfer to Lessee the Aircraft. Upon compliance by Lessee with all of the terms of this Section 10.1, Lessee will be subrogated to all claims of Lessor, if any, against third parties for damage to or loss of such Airframe and Engines to the extent of the then insured value thereof.
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Event of Loss With Respect to Aircraft. From the Delivery Date of the Aircraft until the return thereof to Lessor in compliance with the requirements of Article 13 hereof, Lessee shall bear all risks of loss or damage to the Aircraft, no matter how occasioned and from every source or cause whatsoever. Upon the occurrence of an Event of Loss with respect to the Airframe or the Airframe and any Engines or engines then installed thereon, Lessee shall give Lessor prompt written notice thereof and shall pay or cause to be paid to Lessor within ninety (90) days of such Event of Loss all Basic Rent payments payable for the Aircraft (and all other accrued and unpaid Rent) through the date of such payment, together with the Stipulated Loss Value of the Aircraft, computed as of the Basic Rent payment date immediately preceding such Event of Loss. At such time as Lessor has received the foregoing sums: (A) the obligation of Lessee to pay Basic Rent hereunder shall terminate, (B) the Term for the Aircraft shall end, and (C) Lessor will transfer or cause to be transferred to Lessee (or to the relevant insurers, as the case may be), without representation, recourse or warranty of any kind, express or implied (except a warranty that the Aircraft is free of Liens other than Liens which Lessee is required to discharge hereunder, or defects in title resulting from Lessor's acts), all of Lessor's right, title and interest, if any, in and to the Aircraft.
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Event of Loss With Respect to Aircraft. Upon the occurrence of an Event of Loss with res pect to the Aircraft, Lessee shall forthwith (and, in any event, within two (2) Business Days after such occurrence) give Lessor written notice of such Event of Loss and shall pay to Lessor on the sixtieth (60th) day following the occurrence of such Event of Loss or, if the insurance or other proceeds have been paid for such Event of Loss before such 60th day, upon receipt of such proceeds, the Stipulated Loss Value and all other sums (if any) then due and payable hereunder by Lessee to Lessor; provided further that during the period from the occurrence of such an Event of Loss and ending on the date that Lessee complies with its obligations under this Clause 11.1 the Lease Term shall continue and, therefore, the Aircraft shall be deemed to be continued to be leased by Lessor to Lessee hereunder and Lessee shall continue to pay Rent in accordance with Clause 4. 1. Any such payment shall be limited to amounts actually contributed by Lessee and paid into such Maintenance Reserve Accounts and Lessor shall transfer to Lessee or to Lessee's designee, on an "as-is, where-is" basis but otherwise without recourse or warranty except that such title shall be free and clear of all Lessor Liens, all of such rights, title and interest as Lessor may have in and to the Aircraft, as well as all of Lessor's right, title and interest in and to any Engine constituting part of the Aircraft but not installed thereon at the time of loss, free and clear of Lessor Liens, and Lessor shall, at Lessee's expense, execute and deliver such bills of sale and other docu ments and instruments as Lessee shall reasonably request to evidence (on the public record or otherwise) such transfer and the vesting of such right, title and interest in and to the Aircraft in Lessee. On compliance by Lessor of its obligations under this Clause 11.1 the Lease Term shall be deemed to terminate and Lessee shall thereupon no longer be obliged to pay Rent in respect of the Aircraft pursuant to Clause 4.
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Event of Loss With Respect to Aircraft. (i) Upon the occurrence of an Event of Loss with respect to the Airframe, and any Engine or Engines installed thereon at the time of such Event of Loss, Borrower shall promptly (and in any event within 10 Business Days after such occurrence) give Security Trustee written notice of such Event of Loss. Within 45 days after such occurrence, Borrower shall give Security Trustee written notice of Borrower's election to make payment in respect of such Event of Loss, as provided in Section 3.4(c), or to replace the Airframe, and any such Engines, as provided in Section 3.4(c). (ii) Any failure by Borrower to give such notice of its election shall be deemed to be an election of the option set forth in Section 3.4(b). In addition, Borrower shall not be entitled to elect the option set forth in Section 3.4(c) if, at the time Security Trustee receives such notice from Borrower, there shall have occurred and be continuing a Payment Default, a Bankruptcy Default or an Event of Default. (iii) For purposes of Section 3.4(b), an Event of Loss with respect to the Airframe shall be deemed to constitute an Event of Loss with respect to the Aircraft. For purposes of Section 3.4(c), any Engine not actually suffering an Event of Loss shall not be required to be replaced.
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Event of Loss With Respect to Aircraft. (i) Upon the occurrence of an Event of Loss with respect to any Airframe, and any Engine or Engines installed thereon at the time of such Event of Loss, the Borrower shall promptly (and in any event within 10 Business Days after such occurrence) give the Security Trustee written notice of such Event of Loss. The Borrower shall not have the right to replace any Airframe in case of an occurrence of an Event of Loss with respect to such Airframe with a Replacement Airframe. (ii) For purposes of Section 3.4(b), an Event of Loss with respect to any Airframe shall be deemed to constitute an Event of Loss with respect to the Aircraft of which such Airframe is a part.
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Event of Loss With Respect to Aircraft. The Grantor bears the entire risk of loss, theft, damage or destruction of the Equipment, in whole or in part for any reason whatsoever. No Event of Loss shall relieve the Grantor from its agreement and liability to pay the Obligations or from any other obligation hereunder or under the other Loan Documents. Upon the occurrence of an Event of Loss in excess of $250,000 with respect to any Aircraft, the Grantor shall give the Agent prompt written notice thereof (and in any event within three Business Days after such occurrence), and the Grantor shall, on the next Business Day following the receipt of insurance proceeds with respect to such occurrence, pay to the Agent, for the benefit of the Lenders, the full amount of such insurance proceeds, which shall be applied by Agent to the Revolving Loans, if any, then outstanding under the Credit Agreement (it being understood and agreed that (i) such amounts shall be available for reborrowing on the terms provided in the Credit Agreement, and (ii) in the event such insurance proceeds do not represent the full value attributed to such Aircraft in the calculation of the Borrowing Base, Grantor may be required under the Credit Agreement to pay additional sums to reduce the outstanding balance of the Revolving Loans in order to maintain compliance with the Borrowing Base provisions of the Credit Agreement).
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Event of Loss With Respect to Aircraft 
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Related to Event of Loss With Respect to Aircraft

  • Payments With Respect to Shared-Loss Assets Not later than fifteen (15) days after the date on which the Receiver receives the Monthly Certificate, the Receiver shall pay to the Assuming Institution, in immediately available funds, an amount equal to the Applicable Percentage of the Monthly Shared-Loss Amount reported on the Monthly Certificate. If the total Monthly Shared-Loss Amount reported on the Monthly Certificate is a negative number, the Assuming Institution shall pay to the Receiver in immediately available funds the Applicable Percentage of that amount.

  • Prior Notice to Owners with Respect to Certain Matters Subject to the provisions and limitations of Section 4.04, with respect to the following matters, the Owner Trustee shall not take action unless at least 30 days before the taking of such action, the Owner Trustee shall have notified the Certificateholders in writing of the proposed action and the Owners shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that such Owners have withheld consent or provided alternative direction: (a) the initiation of any claim or lawsuit by the Issuer (except claims or lawsuits brought in connection with the collection of the Receivables) and the compromise of any action, claim or lawsuit brought by or against the Issuer (except with respect to the aforementioned claims or lawsuits for collection of the Receivables); (b) the election by the Issuer to file an amendment to the Certificate of Trust (unless such amendment is required to be filed under the Statutory Trust Statute); (c) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is required; (d) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is not required and such amendment materially adversely affects the interests of the Owners; (e) the amendment, change or modification of the Administration Agreement, except to cure any ambiguity or to amend or supplement any provision in a manner or add any provision that would not materially adversely affect the interests of the Owners; or (f) the appointment pursuant to the Indenture of a successor Note Registrar, paying agent for the Notes or Indenture Trustee or pursuant to this Agreement of a successor Certificate Registrar, or the consent to the assignment by the Note Registrar, Paying Agent, Indenture Trustee or Certificate Registrar of its obligations under the Indenture or this Agreement, as applicable.

  • Payments and Credits with Respect to the Cash Accounts The Custodian shall make payments from or deposits to any of said accounts in the course of carrying out its administrative duties, including but not limited to income collection with respect to the Fund's Investments, and otherwise in accordance with Instructions. The Custodian and its Subcustodians shall be required to credit amounts to the cash accounts only when moneys are actually received in cleared funds in accordance with banking practice in the country and currency of deposit. Any credit made to any Principal or Agency Account before actual receipt of cleared funds shall be provisional and may be reversed by the Custodian in the event such payment is not actually collected. Unless otherwise specifically agreed in writing by the Custodian or any Subcustodian, all deposits shall be payable only at the branch of the Custodian or Subcustodian where the deposit is made or carried.

  • Other Agreements with Respect to Indemnification The provisions of this Section shall not affect any agreement among the Company and the Selling Shareholders with respect to indemnification.

  • Agreement with Respect to Loss Sharing The Assuming Bank shall be entitled to require reimbursement from the Receiver for loss sharing on certain loans in accordance with the Single Family Shared-Loss Agreement attached hereto as Exhibit 4.15A and the Non-SF Shared-Loss Agreement attached hereto as Exhibit 4.15B, collectively, the “Shared-Loss Agreements.” The Loans that shall be subject to the Shared-Loss Agreements are identified on the Schedule of Loans 4.15A and 4.15B attached hereto.