Common use of Adjustments to Basic Rent Clause in Contracts

Adjustments to Basic Rent. (i) In the event that Lessee pays an indemnity obligation under the Tax Indemnity Agreement, then the Basic Rent, Termination Value amounts set forth in EXHIBIT C and the EBO Amount set forth in EXHIBIT D shall be recalculated upwards or downwards by the Lessor 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 Basic Rent amounts, the Termination Value amounts and the EBO Amount on the Delivery Date in order to (1) maintain the Lessor's Net Economic Return and (2) to the extent possible consistent with CLAUSE (1) hereof, minimize the Net Present Value of Rents to Lessee. (ii) Any recalculation of Basic Rent, Termination Value amounts and the EBO Amount pursuant to this SECTION 3(c) shall be determined by Lessor and shall be subject to the verification procedure set forth in SECTION 3(g) hereto. (iii) Any such adjusted Basic Rent, Termination Value amounts and the EBO Amount shall be set forth in a Lease Supplement or an amendment to the Lease.

Appears in 1 contract

Samples: Lease Agreement (Atlas Air Worldwide Holdings Inc)

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Adjustments to Basic Rent. (i) In the event that Lessee Sublessee pays an indemnity obligation under the Sublease Tax Indemnity Indemnification Agreement, then the Basic RentRent amounts set forth on EXHIBIT B-1, the Termination Value amounts set forth in EXHIBIT C on EXHIBITS C-1 AND C-2 and the EBO Amount set forth in on EXHIBIT D shall be recalculated upwards or downwards by the Lessor 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 Indemnity 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 LessorSublessor's Net Economic Return and (2) to the extent possible consistent with CLAUSE clause (1) hereof, minimize the Net Present Value of Rents to LesseeSublessee. (ii) Any recalculation of Basic RentRent amounts, Termination Value amounts and the EBO Amount pursuant to this SECTION 3(c) shall be determined by Lessor Sublessor and shall be subject to the verification procedure set forth in SECTION 3(g) hereto). (iii) Any such adjusted Basic RentRent amounts, Termination Value amounts and the EBO Amount shall be set forth in a Lease Sublease Supplement or an amendment to the LeaseSublease.

Appears in 1 contract

Samples: Amendment Agreement (Atlas Air Worldwide Holdings Inc)

Adjustments to Basic Rent. (i) In the event that Lessee pays an indemnity obligation under the Tax Indemnity Agreement, then the Basic Rent, Rent and Termination Value amounts set forth in EXHIBIT C and the EBO Amount set forth in EXHIBIT D shall be recalculated upwards or downwards by the Lessor 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 Basic Rent amounts, amounts and the Termination Value amounts and the EBO Amount on the Delivery Date in order to (1) maintain the Lessor's Net Economic Return and (2) to the extent possible consistent with CLAUSE (1CLAUSE(1) hereof, minimize the Net Present Value of Rents to Lessee. (ii) Any recalculation of Basic Rent, Rent and Termination Value amounts and the EBO Amount pursuant to this SECTION 3(c) shall be determined by Lessor and shall be subject to the verification procedure set forth in SECTION 3(g) hereto. (iii) Any such adjusted Basic Rent, Rent and Termination Value amounts and the EBO Amount shall be set forth in a Lease Supplement or an amendment to the Lease.

Appears in 1 contract

Samples: Lease Agreement (Atlas Air Worldwide Holdings Inc)

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Adjustments to Basic Rent. (i) In the event that Lessee Sublessee pays an indemnity obligation under the Sublease Tax Indemnity Agreement, then the Basic Rent, Termination Value amounts set forth in EXHIBIT C and the EBO Amount set forth in on EXHIBIT D shall be recalculated upwards or downwards by the Lessor Sublessor using the same methods and Sublease Agreement (MSN 30808) assumptions (except to the extent such assumptions shall be varied to take into account the Loss (as defined in the Sublease Tax Indemnity indemnity Agreement) that is the subject of such indemnification and any prior or contemporaneous Loss) used to calculate Basic Rent amounts, the Termination Value amounts and the EBO Amount on the Delivery Date in order to (1) maintain the LessorSublessor's Net Economic Return and (2) to the extent possible consistent with CLAUSE clause (1) hereof, minimize the Net Present Value of Rents to LesseeSublessee. (ii) Any recalculation of Basic Rent, Termination Value amounts and the EBO Amount Amounts pursuant to this SECTION 3(c) shall be determined by Lessor Sublessor and shall be subject to the verification procedure set forth in SECTION 3(g) hereto. (iii) Any such adjusted Basic Rent, Termination Value amounts and the EBO Amount shall be set forth in a Lease Sublease Supplement or an amendment to the LeaseSublease.

Appears in 1 contract

Samples: Sublease Agreement (Atlas Air Worldwide Holdings Inc)

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