Common use of Aircraft Allowance Clause in Contracts

Aircraft Allowance. For each of the Aircraft delivered to Airline [***], GE will provide Airline with a per aircraft allowance for each such Aircraft in the amount of: [***] for each shipset of GEnx-1B67 Engines purchased [***] for each shipset of GEnx-1B70 Engines purchased [***] for each shipset of GEnx-1B74/75 Engines purchased (“Aircraft Allowance”) Such per Aircraft Allowance is stated in January [***] and shall be subject to adjustment for escalation to the date of the scheduled Aircraft delivery to Airline in accordance with [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. the escalation formula set forth in Attachment D and subject to the Escalation Cap set forth in paragraph 4 below. Each per Aircraft Allowance will be earned by Airline upon delivery of Aircraft to Airline. If Airline provides the Aircraft delivery date at least fifteen (15) business days prior to scheduled Aircraft delivery date for the first Aircraft delivery and at least five (5) business days for subsequent Aircraft, GE will provide the Aircraft Allowance directly to the Airframer. Airline shall continue to advise GE of any delivery date changes. Otherwise, Aircraft Allowance will be made available to Airline within five (5) business days following receipt of written notice from Airline that it has taken delivery of each Aircraft in accordance with its purchase agreement with Airframer. If GE provides the Aircraft Allowance to the Airframer and the actual delivery date is delayed more than 2 business days from the scheduled delivery date, and Airline has notified GE that it has requested Airframer to refund the Aircraft Allowance, and during such time GE has not received refund of the Aircraft Allowance from the Airframer and so notified Airline, then Airline will pay to GE interest on such amount, unless the delay is caused by GE. Interest will be calculated from the date of scheduled delivery to the actual delivery date of the Aircraft. Interest will be computed at [***].

Appears in 1 contract

Samples: Letter Agreement (Hawaiian Holdings Inc)

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Aircraft Allowance. For each of the Aircraft referenced and delivered to Airline [***]under the Aircraft Delivery Schedule, GE CFM will provide Airline with a per aircraft per-Aircraft allowance for each such Aircraft in the amount of: of [***] for each shipset …]. Allegiant 5B GTA No. 1-0000000000 CFM Proprietary Information Page 2 of GEnx-1B67 Engines purchased [***] for each shipset of GEnx-1B70 Engines purchased [***] for each shipset of GEnx-1B74/75 Engines purchased (“Aircraft Allowance”) 15 Such per Aircraft Allowance is stated in January [***] 2016 US Dollars (CPI=216.64), and shall be subject to adjustment adjusted for escalation to the date of the scheduled delivery of each Aircraft delivery to Airline in accordance with [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. the escalation formula set forth in Attachment D and subject hereto. If due to fault or negligence of Airline, there is a delay in delivery of Aircraft, such escalation shall stop at the Escalation Cap set forth original (scheduled delivery date in paragraph 4 beloweffect at the time of delay due to fault or negligence of Airline) scheduled delivery date of the Aircraft. Each per Aircraft Allowance will be earned by Airline upon delivery of Aircraft each shipset of Installed Engines to Airline. If Airline provides the Aircraft delivery date at least fifteen (15) business days prior to scheduled Aircraft delivery date for the first Aircraft delivery Airframer, and at least five (5) business days for subsequent Aircraft, GE will provide the Aircraft Allowance directly to the Airframer. Airline shall continue to advise GE of any delivery date changes. Otherwise, paid as follows: Each per Aircraft Allowance will be made available and paid to Airline within five (53) business days following receipt of written notice from Airline that it has taken delivery of each Aircraft. If requested in writing by Airline at least 30 days prior to scheduled Aircraft in accordance with its purchase agreement with delivery date, CFM will pay the Aircraft Allowance directly to the Airframer. If GE Notwithstanding the foregoing, CFM will not initiate the actual payment of the Aircraft Allowance to the Airframer until it receives further written direction by Airline at the time Airline takes delivery of each Aircraft. Airline will keep CFM informed of any Aircraft delivery date changes. For the avoidance of doubt, CFM agrees it shall not provide the Aircraft Allowance to the Airframer without the Airline’s further written direction under the foregoing and Airline agrees that it shall not issue such further written direction earlier than the date of Aircraft delivery to Airline. If, after such further written direction from Airline, CFM actually provides the Aircraft Allowance to the Airframer and the actual delivery date is delayed (not due to acts or failure to act by CFM) more than 2 business days from the scheduled delivery datedate CFM provides such allowance, and Airline has notified GE that it has requested Airframer to refund the Aircraft Allowance, and during such time GE has not received refund of the Aircraft Allowance from the Airframer and so notified Airline, then Airline will pay to GE CFM interest on such amount, unless the delay is caused by GE. Interest will be calculated from the date of scheduled delivery payment to the actual delivery Airframer to the date of the Aircraftactual Aircraft delivery. Interest will be computed at [***]. Such payment to the Airframer may be offset against any amounts due and owing CFM.

Appears in 1 contract

Samples: General Terms Agreement (Allegiant Travel CO)

Aircraft Allowance. For each The Engine Manufacturer hereby agrees for the benefit of Frontier, the Borrower and the Security Trustee that it will provide the entity taking delivery of the Aircraft delivered to Airline [an allowance for the Aircraft in an amount of ***], GE will provide Airline with a per aircraft allowance for each such Aircraft in ** (the amount of: [***] for each shipset of GEnx-1B67 Engines purchased [***] for each shipset of GEnx-1B70 Engines purchased [***] for each shipset of GEnx-1B74/75 Engines purchased (“Aircraft Allowance”) Such per ). The Aircraft Allowance is stated in January [***] **, and shall be subject to adjustment for escalation to the date of the scheduled Aircraft delivery of each shipset of Engines to Airline Airbus in accordance with [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. the escalation formula set forth in Attachment D and subject to the Escalation Cap set forth in paragraph 4 belowB hereto. Each per Aircraft Allowance Such allowance will be earned by Airline upon delivery of Aircraft each shipset of Engines to Airline. If Airline provides the Aircraft delivery date at least fifteen (15) business days prior to scheduled Aircraft delivery date for the first Aircraft delivery Airbus and at least five (5) business days for subsequent Aircraft, GE will provide the Aircraft Allowance directly to the Airframer. Airline shall continue to advise GE of any delivery date changes. Otherwise, Aircraft Allowance will be made available to Airline within five (5) business days ***** following receipt of written notice from Airline the Borrower or Security Trustee (or a nominee taking delivery in accordance with the purchase agreement with Airbus) that it has taken delivery of each Aircraft in accordance with its the purchase agreement with AirframerAirbus. If GE requested in writing by the Borrower at least ***** prior to scheduled Aircraft delivery date, CFMI will provide the Aircraft Allowance directly to Airbus. The Borrower or the Security Trustee shall continue to advise CFMI of any delivery date changes. If CFMI actually provides the Aircraft Allowance to the Airframer Airbus and the actual delivery date is delayed more than 2 business days ***** from the scheduled date CFMI provides the Aircraft Allowance then the following will occur under the following circumstances: (a) The Borrower will request that Airbus immediately return the Aircraft Allowance to CFMI and CFMI will hold the Aircraft Allowance and pay it to Airbus when the Borrower and Airbus confirm that the Aircraft is ready for delivery; and (b) If the delay of the Aircraft delivery dateis solely a result of the fault of the Borrower to perform its obligations under the purchase agreement with Airbus and Airbus has not returned the Aircraft Allowance to GE, and Airline has notified GE that it has requested Airframer then the Borrower will pay to refund CFMI interest on the Aircraft Allowance, and during such time GE has not received refund of the Aircraft Allowance from the Airframer and so notified Airline, then Airline will pay to GE interest on such amount, unless the delay is caused by GE. Interest will be calculated from the date of scheduled delivery payment to Airbus to the actual delivery earlier of the date (i) Airbus returns the Aircraft Allowance to GE; or (ii) the date of the Aircraftactual Aircraft delivery. Interest will be computed at [***]**.

Appears in 1 contract

Samples: Cfmi Engine Benefits Agreement (Frontier Group Holdings, Inc.)

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Aircraft Allowance. For each The Engine Manufacturer hereby agrees for the benefit of Frontier, the Borrower and the Security Trustee that it will provide the entity taking delivery of the Aircraft delivered to Airline an allowance for the Aircraft in an amount of [***] (the “Aircraft Allowance”). The Aircraft Allowance is stated in [***], GE will provide Airline with a per aircraft allowance for each such Aircraft in the amount of: [***] for each shipset of GEnx-1B67 Engines purchased [***] for each shipset of GEnx-1B70 Engines purchased [***] for each shipset of GEnx-1B74/75 Engines purchased (“Aircraft Allowance”) Such per Aircraft Allowance is stated in January [***] and shall be subject to adjustment for escalation to the date of the scheduled Aircraft delivery of each shipset of Engines to Airline Airbus in accordance with [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. the escalation formula set forth in Attachment D and subject to the Escalation Cap set forth in paragraph 4 belowB hereto. Each per Aircraft Allowance Such allowance will be earned by Airline upon delivery of Aircraft each shipset of Engines to Airline. If Airline provides the Aircraft delivery date at least fifteen (15) business days prior to scheduled Aircraft delivery date for the first Aircraft delivery Airbus and at least five (5) business days for subsequent Aircraft, GE will provide the Aircraft Allowance directly to the Airframer. Airline shall continue to advise GE of any delivery date changes. Otherwise, Aircraft Allowance will be made available to Airline within five (5) business days [***] following receipt of written notice from Airline the Borrower or Security Trustee (or a nominee taking delivery in accordance with the purchase agreement with Airbus) that it has taken delivery of each Aircraft in accordance with its the purchase agreement with AirframerAirbus. If GE requested in writing by the Borrower at least [***] prior to scheduled Aircraft delivery date, CFMI will provide the Aircraft Allowance directly to Airbus. The Borrower or the Security Trustee shall continue to advise CFMI of any delivery date changes. If CFMI actually provides the Aircraft Allowance to the Airframer Airbus and the actual delivery date is delayed more than 2 business days [***] from the scheduled date CFMI provides the Aircraft Allowance then the following will occur under the following circumstances: (a) The Borrower will request that Airbus immediately return the Aircraft Allowance to CFMI and CFMI will hold the Aircraft Allowance and pay it to Airbus when the Borrower and Airbus confirm that the Aircraft is ready for delivery; and (b) If the delay of the Aircraft delivery dateis solely a result of the fault of the Borrower to perform its obligations under the purchase agreement with Airbus and Airbus has not returned the Aircraft Allowance to GE, and Airline has notified GE that it has requested Airframer then the Borrower will pay to refund CFMI interest on the Aircraft Allowance, and during such time GE has not received refund of the Aircraft Allowance from the Airframer and so notified Airline, then Airline will pay to GE interest on such amount, unless the delay is caused by GE. Interest will be calculated from the date of scheduled delivery payment to Airbus to the actual delivery earlier of the date (i) Airbus returns the Aircraft Allowance to GE; or (ii) the date of the Aircraftactual Aircraft delivery. Interest will be computed at [***].

Appears in 1 contract

Samples: Cfmi Engine Benefits Agreement (Frontier Group Holdings, Inc.)

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