Common use of Substitution of Airframe Clause in Contracts

Substitution of Airframe. Company shall have the right at its option at any time, on at least 10 Business Days’ prior written notice to Loan Trustee, to substitute a Substitute Airframe, free and clear of all Liens (other than Permitted Liens), for the Airframe so long as (i) no Event of Default shall have occurred and be continuing at the time of substitution, (ii) the Substitute Airframe has a date of manufacture no earlier than

Appears in 1 contract

Sources: Indenture and Security Agreement (Delta Air Lines Inc /De/)

Substitution of Airframe. Company Owner shall have the right at its option at any time, on at least 10 Business Days’ prior written notice to Loan Trusteethe Mortgagee, to substitute a one or more Substitute AirframeAirframes, free and clear of all Liens (other than Permitted Liens), for the Airframe so long as (i) no Event of Default shall have occurred and be continuing at the time of substitution, (ii) the Substitute Airframe has a date of manufacture no earlier thanTRUST INDENTURE 2023-1 34

Appears in 1 contract

Sources: Note Purchase Agreement (United Airlines, Inc.)

Substitution of Airframe. The Company shall have the right at its option at any time, on at least 10 Business Days’ prior written notice to the Loan Trustee, to substitute a Substitute Airframe, free and clear of all Liens (other than Permitted Liens), for the Airframe so long as (i) no Event of Default shall have occurred and be continuing at the time of substitution, (ii) the Substitute Airframe has a date of manufacture no earlier than,

Appears in 1 contract

Sources: Indenture and Security Agreement (Spirit Airlines, Inc.)