Adjustments to Basic Rent. The Basic Rent shall be adjusted upwards on each Basic Rent Payment Date by an amount, determined by Agent and notified to Lessor and Lessee prior to the Basic Rent Payment Date, which represents the amount of interest due and payable on the Loans relating to the Aircraft on such Basic Rent Payment Date and determined in accordance with the Credit Agreement.
Adjustments to Basic Rent. (i) In the event of a refinancing as contemplated by Section 16 of the Participation Agreement, then the Basic Rent percentages set forth in Exhibit B, the Termination Value percentages set forth in Exhibit C and the EBO Amount set forth on Exhibit D shall be recalculated (upwards or downwards) by the Owner Participant as contemplated by such Section to (1) maintain the Owner Participant's Net Economic Return and (2) to the extent possible consistent with clause (1) hereof, minimize the Net Present Value of Rents to Lessee;
Adjustments to Basic Rent. (i) In the event that (A) the Delivery Date occurs other than on [____________________], (B) Transaction Expenses paid by Lessor pursuant to Section 16(a) of the Participation Agreement are determined to be other than [_____]% of Lessor's Cost, or (C) there is a change in tax law (including the issuance of proposed regulations) after [________________]and on or prior to the Delivery Date, then in each case the Basic Rent percentages set forth in Exhibit B, the Stipulated Loss Value percentages set forth in Exhibit C, the Termination Value percentages set forth in Exhibit D [, the Initial Installments, the Remaining Installments] and the Special Purchase Price shall be recalculated by the Owner Participant, on or prior to [__________________], using the same methods and assumptions used to calculate original Basic Rent, Stipulated Loss Value and Termination Value percentages [, the Initial Installments, the Remaining Installments] and the Special Purchase Price in order to: (1) maintain the Owner Participant's Net Economic Return and (2) minimize the Net Present Value of Rents to Lessee to the extent possible consistent with clause (1) hereof. In such recalculation there will be no change in the amortization of the Secured Certificates.
Adjustments to Basic Rent. (i) In the event that (A) the Delivery Date occurs other than on Xxxxx 00, 0000, (X) Transaction Expenses paid by Lessor pursuant to Section 16(a) of the Participation Agreement are determined to be other than 2.0900% of Lessor's Cost, or (C) there is a change in tax law (including the issuance of proposed regulations) after December 1, 1997 and on or prior to the Delivery Date, then in each case the Basic Rent percentages set forth in Exhibit B, the Stipulated Loss Value percentages set forth in Exhibit C, the Termination Value percentages set forth in Exhibit D and the Special Purchase Price shall be recalculated by the Owner Participant, on or prior to June 15, 1998, using the same methods and assumptions used to calculate original Basic Rent, Stipulated Loss Value and Termination Value percentages and the Special Purchase Price in order to: (1) maintain the Owner Participant's Net Economic Return and (2) minimize the Net Present Value of Rents to Lessee to the extent possible consistent with clause (1) hereof. In such recalculation there will be no change in the amortization of the Secured Certificates.
Adjustments to Basic Rent. Following the Delivery Date, all installments of Basic Rent remaining to be paid during the Basic Term shall be recalculated and adjusted, upward or downwards as the case may be (and corresponding adjustments shall be made to the Stipulated Loss Values and the Termination Values applicable during the remaining Basic Term), in the event that (i) the Transaction Costs payable by Lessor are more or less than [*] of Lessor's Cost (unless Lessee elects to pay such excess directly), and/or (ii) any tax indemnity payment is financed through a Basic Rent adjustment. Such adjustment shall be made in such manner as to maintain the Net Economic Return and to minimize the greatest extent practicable consistent therewith, the mathematical average of the remaining Basic Rent payments. Adjustments to the installments of Basic Rent (expressed as percentages of Lessor's Cost) and conforming adjustments to the Stipulated Loss Values and Termination Values shall be calculated by Lessor in accordance with the terms of this Section 3(c). Lessor shall deliver to Lessee schedules setting forth the revised amounts, which shall be subject to review by Lessee and verification as provided herein. In the event that a dispute regarding any such adjustment is not resolved by written agreement of Lessor and Lessee within 30 days following receipt by Lessee of Lessor's schedules of proposed adjustments, Lessee shall have the right by written notice to Lessor within 30 days after receipt of Lessor's proposed adjustments to cause a lease advisory firm or a nationally-recognized firm of accountants selected by Lessor and reasonably acceptable to Lessee to verify shall proposed adjustments. Lessor shall provide to such firm, but not, in any circumstances, to Lessee or any representatives of Lessee, on a confidential basis, such information as such firm may reasonably require, including, without limitation, a true copy of this Lease and a full description of the methodology and assumptions employed by Lessor in calculating the Basic Rent and Stipulated Loss Values and Termination Values as in effect on the Delivery Date and a true copy of the calculations of the adjustments performed by Lessor at the time, to enable such firm to determine whether the adjustments proposed by Lessor are mathematically accurate, apply the same methodology and assumptions (except to the extent changed by the events giving rise to such recalculation) as were employed in the calculations of the Basic Rent, Stipulat...
Adjustments to Basic Rent. With respect to any Renewal Term, Escalated Basic Rent shall not be adjusted until the April 1st first occurring after the first anniversary of the applicable Renewal Term. As of such April 1st date and thereafter on each succeeding April 1st during the applicable Renewal Term, Escalated Basic Rent shall be increased by 2.25% over the Basic Rent in effect for the most recent one (1) year period immediately preceding each of the foregoing dates (each such date being hereinafter referred to as the “Basic Rent Adjustment Date”).
Adjustments to Basic Rent. The monthly basic rent shall be increased annually by five percent (5%) and otherwise adjusted as follows January 1, 2001 through June 30, 2001 or sooner $63,035.50 per month July 1, 2001 or sooner through December 31, 2001 $47,575.00 per month January 1, 2002 through December 31, 2002 $49,953.75 per month January 1, 2003 through December 31, 2003 $52,451.44 per month
Adjustments to Basic Rent. (i) In the event that Sublessee pays an indemnity obligation under the Sublease Tax Indemnification Agreement, then the Basic Rent amounts set forth on EXHIBIT B-1, the Termination Value amounts set forth on EXHIBITS C-1 AND C-2 and the EBO Amount set forth on EXHIBIT D shall be recalculated upwards or downwards by Sublessor using the same methods and assumptions (except to the extent such assumptions shall be varied to take into account the Loss (as defined in the Sublease Tax Indemnification Agreement) that is the subject of such indemnification and any prior or contemporaneous Loss) used to calculate the Basic Rent amounts, the Termination Value amounts and the EBO Amount on the Delivery Date in order to (1) maintain the Sublessor's Net Economic Return and (2) to the extent possible consistent with clause (1) hereof, minimize the Net Present Value of Rents to Sublessee.
Adjustments to Basic Rent. (i) In the event that (A) the Delivery Date occurs other than on September 25, 1997, or (B) Transaction Expenses paid by Lessor pursuant to Section 16(a) of the Participation Agreement are determined to be other than 1.37% of Lessor's Cost, then in each case the Basic Rent percentages set forth in Exhibit B and Stipulated Loss Value percentages set forth in Exhibit C and the Termination Value percentages set forth in Exhibit D shall be recalculated by the Owner Participant, on or prior to December 30, 1997, using the same methods and assumptions used to calculate original Basic Rent, Stipulated Loss Value and Termination Value percentages, in order to: (1) maintain the Owner Participant's Net Economic Return and (2) minimize the Net Present Value of Rents to Lessee to the extent possible consistent with clause (1) hereof. In such recalculation there will be no change in the amortization of the Secured Certificates. (ii) (A) In the event of a refinancing as contemplated by Section 17 of the Participation Agreement, then the Basic Rent percentages set forth in Exhibit B and Stipulated Loss Value percentages set forth in Exhibit C and the Termination Value percentages set forth in Exhibit D shall be recalculated (upwards or downwards) by the Owner Participant as contemplated by such Section to (1) maintain the Owner Participant's Net Economic Return and (2) to the extent possible consistent with clause (1) hereof, minimize the Net Present Value of Rents to Lessee and (B) in the event that Lessee elects to satisfy any indemnity obligation under the Tax Indemnity Agreement pursuant to Section 4(d)(ii) of the Tax Indemnity Agreement, then the Basic Rent percentages set forth in Exhibit B and the Stipulated Loss Value percentages set forth in Exhibit C and the Termination Value percentages set forth in Exhibit D shall be recalculated (upwards or downwards) by Owner Participant, using the same methods and assumptions (except to the extent such assumptions shall be varied to take into account the Loss (as defined in the Tax Indemnity Agreement) that is the subject of such indemnification and any prior or contemporaneous Loss) used to calculate the Basic Rent percentages, the Stipulated Loss Value percentages and the Termination Value percentages on the Delivery Date, in order to (1) maintain the Owner Participant's Net Economic Return and (2) to the extent possible consistent with clause (1) hereof, minimize the Net Present Value of Rents to Lessee.
Adjustments to Basic Rent. (i) In the event that (A) the Delivery Date occurs other than on ___________, 199_, or (B) Transaction Expenses paid by Lessor pursuant to Section 16(a) of the Participation Agreement are determined to be other than ___% of Lessor's Cost, then in each case the Basic Rent percentages set forth in EXHIBIT B and Stipulated Loss Value percentages set forth in EXHIBIT C and the Termination Value percentages set forth in EXHIBIT D shall be recalculated by the Owner Participant, on or prior to ____________, 199_ using the same methods and assumptions used to calculate original Basic Rent, Stipulated Loss Value and Termination Value percentages, in order to: (1) maintain the Owner Participant's Net Economic Return and (2) minimize the Net Present Value of Rents to Lessee to the extent possible consistent with clause (1) hereof. In such recalculation there will be no change in the amortization of the Secured Certificates.
