Common use of Adjustments to Basic Rent Clause in Contracts

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.

Appears in 4 contracts

Samples: Lease Agreement (Northwest Airlines Inc /Mn), Lease Agreement (Northwest Airlines Corp), Lease Agreement (Northwest Airlines Inc /Mn)

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Adjustments to Basic Rent. (i) In the event that (A) If the Delivery Date occurs other than does not occur on [____________________], (B) ] or Transaction Expenses paid by Lessor pursuant to Section 16(a) Article 12 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 BB-1, the allocation of Basic Rent set forth in Exhibit B-2, the Stipulated Loss Value percentages set forth in Exhibit C, the Termination Value percentages set forth in Exhibit D 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 RentRent percentages and allocations, Stipulated Loss Value and Termination Value percentages 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, minimize the Net Present Value of Rents. In such recalculation there will be no change in the amortization of the Secured CertificatesEquipment Notes.

Appears in 1 contract

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

Adjustments to Basic Rent. (i) In the event that (A) the Delivery Date occurs other than on [____________________], 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, 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 BB-1, the allocation of Basic Rent set forth in Exhibit B-2, 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 RentRent percentages and allocations, 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.

Appears in 1 contract

Samples: Lease Agreement (Northwest Airlines Inc /Mn)

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 EXHIBIT B, the Stipulated Loss Value percentages set forth in Exhibit EXHIBIT C, the Termination Value percentages set forth in Exhibit 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.

Appears in 1 contract

Samples: Lease Agreement (Northwest Airlines Corp)

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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.

Appears in 1 contract

Samples: Lease Agreement (Northwest Airlines Holdings Corp/Pred)

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