Common use of Adjustment of allowances Clause in Contracts

Adjustment of allowances. The total allowances, of any nature, described herein are contingent upon Airline accepting delivery of a minimum of 25 LEAP-X1A26 powered Aircraft (“Minimum Number of Aircraft”) and four (4) LEAP-X1A26 Spare Engines (“Minimum Number of Spares”) for delivery during the Delivery Period. If Airline has canceled or otherwise failed to accept delivery of one or more off the required Minimum Number of Aircraft or Minimum Number of Spares within the Delivery Period, the allowances will be adjusted as follows: ***** ***** ***** ***** ***** ***** Adjustment of allowances in accordance with the above formula may be made by CFM prospectively to take into account Aircraft delays and/or cancellations. In any case, Airline agrees to promptly reimburse CFM for any allowance overpayments determined to have been made at the application of the adjustment formula set forth above with interest since the allowance overpayment(s) at the prime floating interest rate per annum for ***** U.S. Dollar deposits, as published in The Wall Street Journal from time to time (the “Prime Rate”), plus ***** Unless otherwise agreed by CFM, no allowance shall be paid on Aircraft not accepted within the Delivery Period and such Aircraft shall not be counted for purposes of the adjustment formula set forth above. ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission.

Appears in 1 contract

Samples: General Terms Agreement (Virgin America Inc.)

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Adjustment of allowances. The total allowances, of any nature, described herein are contingent upon Airline accepting delivery of a minimum of 25 LEAP-X1A26 powered Aircraft (“Minimum Number of Aircraft”) and four (4) LEAP-X1A26 Spare Engines (“Minimum Number of Spares”) for delivery during the Delivery Period. If Airline has canceled or otherwise failed to accept delivery of one or more off the required Minimum Number of Aircraft or Minimum Number of Spares within the Delivery Period, the allowances will be adjusted as follows: ***** ***** ***** ***** ***** ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. Adjustment of allowances in accordance with the above formula may be made by CFM prospectively to take into account Aircraft delays and/or cancellations. In any case, Airline agrees to promptly reimburse CFM for any allowance overpayments determined to have been made at the application of the adjustment formula set forth above with interest since the allowance overpayment(s) at the prime floating interest rate per annum for ***** U.S. Dollar deposits, as published in The Wall Street Journal from time to time (the “Prime Rate”), plus ***** Unless otherwise agreed by CFM, no allowance shall be paid on Aircraft not accepted within the Delivery Period and such Aircraft shall not be counted for purposes of the adjustment formula set forth above. ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission.

Appears in 1 contract

Samples: General Terms Agreement (Virgin America Inc.)

Adjustment of allowances. The total allowances, of any nature, described herein equipment credit allowances as defined in Article A(ii),(excluding the aircraft allowances applicable to Engines installed on aircraft) are contingent upon Airline Republic agreeing to take delivery and accepting delivery during the Delivery Period of a the minimum number of 25 LEAP-X1A26 powered Aircraft Engines as set forth below opposite the correct description of Republic’s order from Airbus (the “Minimum Number of AircraftEngines) and four (4) LEAP-X1A26 ): Airbus Order Aircraft Spare Engines (“Minimum Number of Spares”) for delivery during the Delivery Period. If Airline has canceled or otherwise failed to accept delivery of one or more off the required Minimum Number of Aircraft or Minimum Number of Spares within the Delivery Period, the allowances will be adjusted as follows: Engines ***** ***** ***** ***** ***** If Republic has canceled or otherwise failed to accept delivery of one or more of the required Minimum Number of Engines within the Delivery Period, the equipment credit allowances as defined in Article A(ii), (excluding the aircraft allowances applicable to Engines installed on aircraft) will be adjusted as follows: ***** Adjustment of allowances in accordance with the above formula may be made by CFM prospectively to take into account Aircraft or Spare Engine delays and/or cancellations. In any case, Airline Republic agrees to promptly reimburse CFM for any allowance overpayments determined to have been made at the application of the adjustment formula set forth above with interest since the allowance overpayment(s) at the prime floating interest rate per annum for ***** U.S. Dollar deposits, as published in The Wall Street Journal from time to time (the “Prime Rate”), plus ***** . Unless otherwise agreed by CFM, no allowance shall be paid on Aircraft or Spare Engines not accepted within the Delivery Period and such Aircraft shall not be counted for purposes of the adjustment formula set forth above. ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission.

Appears in 1 contract

Samples: Letter Agreement (Frontier Group Holdings, Inc.)

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Adjustment of allowances. The total allowances, of any nature, described herein equipment credit allowances as defined in Article A(ii),(excluding the aircraft allowances applicable to Engines installed on aircraft) are contingent upon Airline Republic agreeing to take delivery and accepting delivery during the Delivery Period of a the minimum number of 25 LEAP-X1A26 powered Aircraft Engines as set forth below opposite the correct description of Republic’s order from Airbus (the “Minimum Number of AircraftEngines) and four (4) LEAP-X1A26 ): Airbus Order Aircraft Spare Engines (“Minimum Number of Spares”) for delivery during the Delivery Period. If Airline has canceled or otherwise failed to accept delivery of one or more off the required Minimum Number of Aircraft or Minimum Number of Spares within the Delivery Period, the allowances will be adjusted as follows: Engines ***** ***** ***** ***** If Republic has canceled or otherwise failed to accept delivery of one or more of the required Minimum Number of Engines within the Delivery Period, the equipment credit allowances as defined in Article A(ii), (excluding the aircraft allowances applicable to Engines installed on aircraft) will be adjusted as follows: ***** ***** *Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. Adjustment of allowances in accordance with the above formula may be made by CFM prospectively to take into account Aircraft or Spare Engine delays and/or cancellations. In any case, Airline Republic agrees to promptly reimburse CFM for any allowance overpayments determined to have been made at the application of the adjustment formula set forth above with interest since the allowance overpayment(s) at the prime floating interest rate per annum for ***** U.S. Dollar deposits, as published in The Wall Street Journal from time to time (the “Prime Rate”), plus ***** . Unless otherwise agreed by CFM, no allowance shall be paid on Aircraft or Spare Engines not accepted within the Delivery Period and such Aircraft shall not be counted for purposes of the adjustment formula set forth above. ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission.

Appears in 1 contract

Samples: Letter Agreement (Frontier Group Holdings, Inc.)

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