Common use of ADJUSTMENT OF SUPPLEMENTAL RENT Clause in Contracts

ADJUSTMENT OF SUPPLEMENTAL RENT. Lessor and Lessee acknowledge that the rates of Supplemental Rent specified herein are based upon the assumptions that (i) the Aircraft will operate on average not less than 1 Flight Hour per Cycle ratio and (ii) the Agreed Maintenance Programme applicable to the Aircraft during the Term will be the same as the Agreed Maintenance Programme in effect on the Delivery Date. In the event that either or both of the foregoing assumptions prove to be incorrect at any time during the Term, Lessor and Lessee agree that Lessor shall have the right, upon written notice to Lessee, to adjust the rate of Supplemental Rent. In the case of a change in the ratio of Flight Hours per Cycle relating to Aircraft operation, the adjustment of Supplemental Rent shall be as follows: HOUR/CYCLE RATIO .5 1.0 1.5 2.0 2.5 3.0 3.5 $/hr. $/hr. $/hr. $/hr $/hr. $/hr. $/hr. ENGINE REFURBISHMENT 98.70 72.45 65.10 58.80 54.60 52.50 50.40 SUPPLEMENTAL RENT $/cyc. $/cyc. $/cyc. $/cyc. $/cyc. $/cyc. $/cyc. ENGINE LLP SUPPLEMENTAL RENT 12.60 12.60 12.60 12.60 12.60 12.60 12.60 In the event that the Agreed Maintenance Programme is revised, Lessor shall make the adjustment in the manner which Lessor determines, in its reasonable discretion, is necessary to maintain the rate of Supplemental Rent at levels which accurately reflect the costs associated with obtaining maintenance services at prevailing industry rates. Each such notice shall specify the revised Supplemental Rent and the effective date of such revision. Lessee agrees to advise Lessor, in writing, promptly following the occurrence of any circumstances or events which would result in the foregoing assumptions becoming incorrect at any time during the Term.

ADJUSTMENT OF SUPPLEMENTAL RENT. Lessor and Lessee acknowledge that the rates of Supplemental Rent specified herein are based upon the assumptions that (i) the Aircraft will operate on average not less than 1 Flight Hour per Cycle ratio and (ii) the Agreed Maintenance Programme applicable to the Aircraft during the Term will be the same as the Agreed Maintenance Programme in effect on the Delivery Date. In the event that either or both of the foregoing assumptions prove to be incorrect at any time during the Term, Lessor and Lessee agree that Lessor shall have the right, upon written notice to Lessee, to adjust the rate of Supplemental Rent. In the case of a change in the ratio of Flight Hours per Cycle relating to Aircraft operation, the adjustment of Supplemental Rent shall be as follows: HOUR/CYCLE RATIO .5 1.0 1.5 2.0 2.5 3.0 3.5 $/hr. $/hr. $/hr. $/hr /hr. $/hr. $/hr. $/hr. ENGINE REFURBISHMENT 98.70 72.45 65.10 58.80 54.60 52.50 50.40 SUPPLEMENTAL RENT $/cyc. $/cyc. $/cyc. $/cyc. $/cyc. $/cyc. $/cyc. ENGINE LLP SUPPLEMENTAL RENT 12.60 12.60 12.60 12.60 12.60 12.60 12.60 In the event that the Agreed Maintenance Programme is revised, Lessor shall make the adjustment in the manner which Lessor determines, in its reasonable discretion, is necessary to maintain the rate of Supplemental Rent at levels which accurately reflect the costs associated with obtaining maintenance services at prevailing industry rates. Each such notice shall specify the revised Supplemental Rent and the effective date of such revision. Lessee agrees to advise Lessor, in writing, promptly following the occurrence of any circumstances or events which would result in the foregoing assumptions becoming incorrect at any time during the Term.