Adjustment of Maintenance Reserves Sample Clauses

Adjustment of Maintenance Reserves. The amounts of the Airframe Reserves, Engine Reserves, Engine LLP Reserves, APU Reserves and Landing Gear Reserves are based on an average annual sector flight time of [***] Flight Hours. The amounts of any one or more of such elements of the Maintenance Reserves shall be increased if, at any time, in Lessor’s reasonable judgment and taking into account Lessee’s operation of the Aircraft, Lessee’s operational environment and Lessee’s actual maintenance cost experience, such Maintenance Reserves are not sufficient to cover the related maintenance costs; similarly, the amounts of any one or more of such elements of the Maintenance Reserves shall be reduced if, at any time, upon Lessee’s request for review, Lessor shall be reasonably satisfied that such Maintenance Reserves are in excess of the amounts needed to cover the related maintenance costs, taking into account Lessee’s operation of the Aircraft, Lessee’s operating environment and Lessee’s actual maintenance cost experience. Lessor shall supply Lessee with the information on which Lessor bases its conclusion that any such increase or decrease is warranted. In addition, at the time an Engine undergoes a shop visit for Performance Restoration during the Term or the APU undergoes “off the fuselage maintenance” (as defined in clause (d) of paragraph 3, below) during the Term, the rate for the Performance Restoration Payments or APU Payments, as the case may be, thereafter payable by Lessee in respect of the Engines or the APU shall be increased or decreased by Lessor as necessary to ensure payment by Lessee of an hourly rate sufficient to meet the projected costs of future Performance Restoration for the Engines and future “off the fuselage maintenance” for the APU. The amount of such increase or decrease shall be determined, after taking into account any unused balance of applicable Performance Restoration Payments or APU Payments, as the case may be, by reference to the amount obtained by dividing (A) the projected total cost of the Performance Restoration to be performed for each Engine or “off the fuselage maintenance” of the APU, as the case may be (which will be based, in part, on the actual total cost of the Performance Restoration of the Engine that has undergone a shop visit for Performance Restoration or the actual total cost of the “off the fuselage maintenance” of the APU, as the case may be, but escalated as necessary for inflation and adjusted for other cost increases anticipated for the next...
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Related to Adjustment of Maintenance Reserves

  • Maintenance, Etc The Company will maintain, preserve and keep, and will cause each Consolidated Subsidiary to maintain, preserve and keep, its properties which are used in the conduct of its business (whether owned in fee or a leasehold interest) in good repair and working order, ordinary wear and tear excepted, and from time to time will make all necessary repairs, replacements and renewals as the Company may determine to be appropriate to the conduct of its business.

  • Common Area Maintenance Landlord will maintain or cause to be maintained the Common Areas and Tenant will reimburse Landlord for Tenant’s prorata share of the cost of such maintenance as hereinafter provided. (a) Common area maintenance costs and expenses shall be determined in accordance with generally accepted accounting principles consistently applied and allocated to any particular calendar year on the accrual method of accounting. Such costs and expenses shall include, but shall not be limited to upkeep, exterior painting, repairs, replacements and improvements in the Common Areas, snow removal, sweeping and cleanup, depreciation allowance on any machinery and equipment owned by Landlord and used in connection therewith, utility services including fire line water service charges, premiums for public liability, property damage and fire insurance including the Common Areas, any real estate tax and/or tax consultant expense incurred for the purpose of maintaining equitable tax assessments on the Development, all property taxes or assessments levied or assessed against all Common Areas, which, if not separately assessed, shall be determined, for land, by the ratio of land area designated for Common Area use to the total land area in the Development and, for improvements, on a fair and equitable allocation among the various improvements in the Development, giving weight to the factors which determine the amount of the real property tax or assessment in question. In addition, such costs shall include administrative costs equal to ten percent (10%) of the total cost paid or incurred by Landlord under this paragraph. (b) Tenant shall pay as additional rent to Landlord, Tenant’s prorata share of such Common Area expenses in the following manner: (1) From and after the date the minimum rental provided for herein has commenced, but subject to adjustment as hereinafter in this subparagraph (1) provided, Tenant shall pay Landlord in advance on the first day of each calendar month during the term of this Lease an estimated and adjustable amount covering Tenant’s proportionate share of common area services and expenses, which amount may be adjusted by Landlord by notice to Tenant at the end of any calendar month on the basis of Landlord’s experience and reasonably anticipated costs. (See Lease Rider “A” Building Expenses attached hereto and incorporated herein.) (2) Within thirty (30) days following the end of each calendar year, Landlord shall furnish Tenant a statement covering the calendar year just expired, showing the total operating costs, the amount of Tenant’s prorata share of such Common Area expenses for such calendar year and the payments made by Tenant with respect to such calendar year as set forth in subparagraph (b) I. If Tenant’s prorata share of such Common Area expenses exceeds Tenant’s payments so made, Tenant shall pay Landlord the deficiency within ten (10) days after receipt of such statement. If said payments exceed Tenant’s prorata share of such Common Area expenses, Tenant shall be entitled to offset the excess against payments next thereafter to become due Landlord as set forth in said subparagraph (b) I. Tenant’s pro-rata share of the total Common Area expenses for the previous calendar year shall be that portion of all such expenses which is equal to the proportion which the number of square feet of gross leasable area in the Demised Premises bears to the total number of square feet of gross leasable area of buildings in the entire Development which are from time to time completed and occupied as of the commencement of each calendar year.

  • Adjustment of Impositions Impositions imposed in respect of the tax-fiscal period during which the Term terminates shall be adjusted and prorated between Lessor and Lessee, whether or not such Imposition is imposed before or after such termination, and Lessee’s obligation to pay its prorated share thereof after termination shall survive such termination.

  • Repair and Maintenance 8.1 LANDLORD’S REPAIR AND MAINTENANCE. Landlord at its cost shall maintain the following: a. The structural parts of the building and other improvements, that are part of the leased premises which structural parts include the foundations, bearing and exterior walls, subflooring and roof. b. The unexposed electrical, plumbing and sewage systems, including, without limitation, those portions of the systems lying outside the premises. c. The Landlord shall have all snow and ice removed from the sidewalks leading to the premises as soon as practicable, and see that snow from the parking area is properly and reasonably removed and that all refuse and garbage is removed from the collection area. d. The Landlord shall maintain the common areas, parking areas, hallways and stairs and restrooms, in a safe, clean and orderly condition. 8.2 T’ENANT’S REPAIRS AND MAINTENANCE. Tenant at its cost shall perform the following: a. Any construction, modification and/or improvements made to the leased premise will be at the expense of the Tenant (unless otherwise agreed), and will require the approval of the Landlord. Any improvements or modifications performed by, or on behalf of, the Tenant will, at the option of the Landlord, remain as part of the Keuka Business Park at the conclusion of the lease term. b. Except as provided in paragraph 8.1 above, Tenant at its cost shall maintain the leased premises, including all janitorial care of the office and restroom facilities associated with this space, and at the expiration of the term of this Lease Agreement, or prior termination, Tenant shall surrender the leased premises to Landlord in the same condition as received, normal wear and tear, damage from the elements, fire or other casualty, damage Landlord is required to repair hereunder, or damage from the negligence or willful misconduct of Landlord, its agents or employees, excepted. c. Tenant also agrees to maintain outdoor areas affected by the operations of the business in an orderly fashion, including, but not limited to, stacking and disposal of pallets, trash and recycling areas, employee litter and damage to the facilities.

  • Routine Maintenance (i) CRC shall be responsible for Routine Maintenance when necessary or desirable to maintain the Shared Assets in a safe operating condition, and to permit and facilitate (A) the performance by CRC of its obligations pursuant to this Agreement, and (B) the use of Shared Assets by the Operators in accordance with this Agreement. (ii) CSXT or NSR, directly or through their respective affiliates, may perform the work which CRC performed prior to the date of this Agreement when (A) CRC does not possess the skills needed for such work, (B) CRC lacks the necessary employees to do such work in a timely fashion, or (C) CRC does not possess the equipment needed to do such work. CRC and the party performing the work shall agree to a reasonable fee for such work prior to performance. CRC, CSXT and NSR may agree to have additional work performed either by CSXT, NSR or their affiliates.

  • REPAIRS; MAINTENANCE The Owner hereby gives power to the Agent to supervise repairs, improvements, alterations, and decorations to the Property as well as purchase and pay bills for services and supplies. The Agent shall obtain prior approval of the Owner for all expenditures over $ for any single item. Prior approval for lesser amounts shall not be required for monthly or recurring operating charges or if emergency expenditures over the maximum are, in the Agent’s opinion, needed to protect the Property from damage, prevent injury to persons, avoid suspension of necessary services, avoid penalties or fines, or suspension of services to tenants required by a lease or rental agreement or by law, including, but not limited to, maintaining the Property in a condition fit for human habitation as required by applicable law.

  • Record Maintenance The Service Provider shall maintain, and require any third parties with which it contracts to maintain with respect to the Fund’s shareholders holding the Fund’s shares in a Service Provider account (“Customers”) the following records: a. Number of shares; b. Date, price and amount of purchases and redemptions (including dividend reinvestments) and dates and amounts of dividends paid for at least the current year to date; c. Name and address of the Customer, including zip codes and social security numbers or taxpayer identification numbers; d. Records of distributions and dividend payments; and e. Any transfers of shares.

  • Construction and Maintenance There are on-going maintenance, renovation and construction projects taking place in and around the residences. The work typically takes place during regular business hours, but may begin earlier or extend into evenings or weekends. On-going construction or renovation projects will continue through midterm and final exam periods. The University will take measures to ensure that prudent construction practices are followed, but there may be noise, dust and temporary interruption of some services. Residents may be required to temporarily or permanently relocate to facilitate construction or renovation to their residence area. There will be no compensation or reduction to your residence fees due to disruption and/or relocation.

  • Planned Maintenance (a) Subject to any modification or amendment of this Agreement made pursuant to Section 4.2(c) or Section 7.3(d), Planned Maintenance occurring during the Delivery Term shall be coordinated and scheduled in accordance with this Section 9.6. Seller shall perform all Planned Maintenance (including Major Planned Maintenance) in a manner that optimizes the generation and benefits to Buyer of the Contract Energy, Storage Energy, and other Products (e.g., during off-peak periods and low-irradiance periods) and, without limiting the foregoing, either (i) outside of Daylight Hours or (ii) during the months of October and November only, during Daylight Hours; provided, however, that the foregoing restrictions shall not apply to any Planned Maintenance that Seller is required to perform pursuant to any applicable manufacturer warranty that cannot reasonably be performed by Seller subject to such restrictions. (b) Seller shall deliver to Buyer a proposed schedule for Planned Maintenance in respect of each Contract Year (“Planned Maintenance Schedule”) no later than ninety (90) Days before the start of such Contract Year. Planned Maintenance Schedules submitted by Seller shall (i) comply with the second sentence of Section 9.6(a) and (ii) include reasonably detailed descriptions of the Planned Maintenance to be performed, the Days and times in which each type of Planned Maintenance is scheduled to be performed, the estimated amount(s) of Contract Capacity and Storage Capacity that will be unavailable due to Planned Maintenance and the total number of hours that Seller expects that the Contract Capacity and Storage Capacity will be unavailable due to Planned Maintenance. The general form for the Planned Maintenance Schedule is set forth in Schedule 9.6. (The Planned Maintenance descriptions reflected in the general form set forth in Schedule 9.6 are provided for indicative purposes only, and are not necessarily representative of the detail, time periods, or certainty required for a Planned Maintenance Schedule hereunder.) (c) Buyer shall have the right to disapprove, in its reasonable discretion (provided that Buyer shall have the right to disapprove, in its sole and absolute discretion, any Planned Maintenance proposed by Seller that is inconsistent with the terms of this Agreement), any Planned Maintenance set out in any Planned Maintenance Schedule proposed by Seller for any Contract Year, except for any Planned Maintenance that (i) is scheduled to occur outside of Daylight Hours or during Daylight Hours during the months of October and November or (ii) Seller is required to perform pursuant to any applicable manufacturer warranty and that is scheduled to occur in compliance with Section 9.6(a). If Seller submits its Planned Maintenance Schedule for a Contract Year in accordance with the requirements of this Agreement and Buyer does not disapprove of any Planned Maintenance set out in such Planned Maintenance Schedule by sixty (60) days after submission, then such Planned Maintenance Schedule shall be deemed approved. If Buyer, in the exercise of its discretion as set forth above, disapproves any Planned Maintenance in such Planned Maintenance Schedule within the applicable time period specified above after its submission, Buyer shall notify Seller and the Parties shall use Commercially Reasonable Efforts to agree upon and finalize a mutually acceptable Planned Maintenance Schedule for the applicable Contract Year. Seller shall conduct Planned Maintenance during such Contract Year only in accordance with an agreed Planned Maintenance Schedule; provided, however, that Seller may (A) move Planned Maintenance included in an agreed Planned Maintenance Schedule that is not Major Planned Maintenance, so long as such move is consistent with the terms of this Agreement (including the second sentence of Section 9.6(a)) or, with respect to Major Planned Maintenance, if such Major Planned Maintenance is scheduled to occur outside of Daylight Hours or during Daylight Hours during the months of October and November and (B) schedule and perform Planned Maintenance not reflected in the Planned Maintenance Schedule so long as such Planned Maintenance is scheduled to be performed outside of Daylight Hours or during Daylight Hours during the months of October and November and Seller provides Buyer at least two (2) weeks’ prior written notice of such Planned Maintenance; provided further that Buyer shall have the right to advise Seller of periods when Buyer prefers, based on solar irradiance, supply, market and other conditions, that any Major Planned Maintenance be deferred, and Seller shall use Commercially Reasonable Efforts to comply with such request. (d) Seller shall use Commercially Reasonable Efforts to complete any Planned Maintenance and place the Facility back into full commercial operation as soon as reasonably possible. If Seller determines that any Planned Maintenance scheduled in an agreed Planned Maintenance Schedule no longer needs to be completed or will not consume the entire time scheduled therefor in the agreed Planned Maintenance Schedule, Seller shall provide (i) a Generation Forecast to Buyer reflecting the forecasted amount of Delivered Energy during each affected interval that takes into account such change and (ii) in the case of any Major Planned Maintenance, a written notice declaring the cessation and termination of the applicable Major Planned Maintenance period (in which event, the Major Planned Maintenance period shall terminate in accordance with the terms of such Generation Forecast and written notice).

  • Repairs and Maintenance (a) Except for the obligations of Landlord pursuant to Section 9(b) of this Lease and except as caused by the negligence or willful misconduct of Landlord or its agents, contractors, servants, invitees or employees or Landlord’s default hereunder, Tenant shall keep, maintain, and repair or cause to be repaired and maintained, at its sole cost and expense, the Premises, including, without limitation: HVAC, mechanical and electrical equipment and all systems in or serving the Premises, the Utility Infrastructure, the Critical Fixtures and Equipment, parking areas, sidewalks, roadways and landscaping, in good repair and condition and appearance, normal wear and tear excepted, and shall make all repairs and replacements which may be required to be made in order to keep and maintain the Premises, including without limitation, the Utility Infrastructure and Critical Fixtures and Equipment, in as good repair and appearance as they were when originally delivered to Tenant, except for ordinary wear and tear and subject to the provisions of Section 13 and Section 14 hereof, and Tenant shall, in all events, make all repairs, replacements and perform maintenance and other work for which it is responsible hereunder, in a good, proper and workmanlike manner in accordance with customary standards for first-class data centers. (b) Subject to the provisions of Section 13 and Section 14 hereof, Landlord shall make all necessary roof repairs and structural repairs to the Premises including those repairs and replacements necessary to keep the roof, exterior walls, foundation and structural frame of the Premises in good order and repair and perform such repairs in accordance with customary standards for first-class data centers. Landlord shall initiate all such repairs promptly and to remedy any condition requiring repair by Landlord with due diligence. (c) If Tenant shall be in default under any of the provisions of this Section 9, Landlord may, after thirty (30) days written notice to Tenant and failure of Tenant to cure during said period unless such default is of such a nature that it cannot with reasonable diligence be cured within said period, then the cure period shall be extended by such period as may be required with the application of reasonable diligence to cure the default, but without notice in the event of an emergency, do whatever is necessary to cure such default as may be appropriate under the circumstances for the account of and at the expense of Tenant. If an emergency exists, Landlord shall use reasonable efforts to notify Tenant of the situation by phone or other available communication before taking any such action to cure such default. All reasonable sums so paid by Landlord or Tenant, as applicable, and all reasonable costs and expenses (including, without limitation, reasonable attorneys’ fees and expenses) so incurred, together with interest at the Lease Default Rate from the date of payment or incurring of the expense, shall constitute Additional Rent payable by Tenant under this Lease and shall be paid by Tenant to Landlord on demand. (d) If Landlord shall be in default under any of the provisions of this Section 9, Tenant may, after thirty (30) days written notice to Landlord and failure of Landlord to cure during said period unless such default is of such a nature that it cannot with reasonable diligence be cured within said period, then the cure period shall be extended by such period as may be required with the application of reasonable diligence to cure the default, but without notice in the event of an emergency, do whatever is necessary to cure such default as may be appropriate under the circumstances for the account of and at the expense of Landlord. If an emergency exists, Tenant shall use reasonable efforts to notify Landlord of the situation by phone or other available communication before taking any such action to cure such default. All reasonable sums so paid by Tenant and all reasonable costs and expenses (including, without limitation, reasonable attorneys’ fees and expenses) so incurred, together with interest at the Lease Default Rate from the date of payment or incurring of the expense, shall constitute amounts payable by Landlord under this Lease and shall be paid by Landlord to Tenant on demand. (e) Without limiting the generality of the foregoing, Tenant shall additionally perform, at its cost and expense, all maintenance, repair, and replacement obligations hereunder relating to any of the Building’s systems, the Building’s elevators, the Utility Infrastructure, or the Critical Fixtures and Equipment. In addition, in connection with Tenant’s maintenance, repair, and replacement obligations under this Lease, Tenant shall at its own cost and expense enter into regularly scheduled preventative maintenance service contracts, with vendors, approved by Landlord, in its reasonable discretion, for servicing all Building systems, Utility Infrastructure, elevators, and Critical Fixtures and Equipment. Tenant shall cause such maintenance contracts to designate Landlord a third (3rd) party beneficiary, with the right to receive all notices delivered under such contracts, and the ability to exercise Tenant’s rights thereunder upon Tenant’s default under this Section 9 or upon Tenant’s default under an applicable maintenance contract. (f) In the event of an emergency adversely affecting the structure of the Premises, Tenant shall make all reasonable efforts to inform Landlord of the emergency. If Tenant is unable to make contact with Landlord or Landlord does not, within a reasonable amount of time, take actions necessary to end such emergency, Tenant may take the minimum steps reasonably necessary to end the emergency at Landlord’s expense. All reasonable sums paid by Tenant in taking such actions as are permitted by the provisions of Section 9(f) above shall be paid by Landlord within thirty (30) days after receipt of Tenant’s demand therefor. After the emergency has ended, any repair required of Landlord under this Lease shall be made by Landlord in accordance with the terms of this Lease and any repair required of Tenant under this Lease shall be made by Tenant in accordance with the terms of this Lease.

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