AIRWORTHINESS DIRECTIVES COST SHARING. Notwithstanding any provisions of the Lease which would require the Lessee, at its expense, to comply with ADs by making repairs, alterations or modifications to the Aircraft to accomplish terminating action of the ADs, in the event that Lessee's actual cost, without mark-up, of xxxpliance with an AD for the Aircraft exceeds **Material Redacted**, Lessor will reimburse Lessee a portion of such cost in excess of such **Material Redacted** as determined by the formula: R = [C - **Material Redacted**] x [ 1 - (N-M)/ **Material Redacted**] where: R = Amount to be reimbursed by Lessor to Lessee C = Lessee's actual cost, without mark-up, of xxxifying the Aircraft to comply with the AD; and M = the month of the Lease Term in which the AD modification is completed. N = the number of months in the Term (or the Term as extended upon Lessee's exercise of Renewal Options hereunder but in no event shall it be less than **Material Redacted**). Following completion of any such modification work, Lessee shall provide Lessor with a written notice signed by an officer or management employee of Lessee specifying the modifications completed, the cost thereof and the amount to be reimbursed by Lessor hereunder and certifying that at the date of such notice no Default arising from Lessee's failure to pay any amounts due or owing under the Lease when due and no Event of Default had occurred and was continuing. Lessee shall provide Lessor with such additional information as Lessor may reasonably request to verify that such modifications have been completed and the cost thereof. Within thirty days following Lessor's verification of the modification work, cost thereof and calculation of the amount of reimbursement owing to Lessee hereunder and providing no Event of Default has occurred and is then continuing, Lessor shall remit to Lessee the amount owing to Lessee hereunder.
AIRWORTHINESS DIRECTIVES COST SHARING. Subject to the provisions of Article 0 (mutatis mutandis), in the event that an Airworthiness Directive is issued after the Delivery Date which Airworthiness Directive requires a modification to the Aircraft which must be performed or terminated prior to the Expiration Date or within One Hundred Eighty (180) days thereafter and the cost of which is in excess of *****, Lessor shall reimburse Lessee for the portion of such cost over ***** in accordance with the following formula: ***** Where: ***** ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 49(138) ***** ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 50(138)
AIRWORTHINESS DIRECTIVES COST SHARING. The Lessor shall, if the cost to Lessee of performing an inspection resulting in modification or terminating action with regard to any Airworthiness Directive or causing such inspection resulting in modification or terminating action being performed with regard to such Airworthiness Directive, exceeds * in respect of any individual item of the same, provided no Default has occurred and is continuing, on receipt by Lessor of evidence of payment for and completion of the relevant work, reimburse Lessee with an amount equal to the solution to the following formula:- * Frontier Airlines, Inc. As of March 25, 1997 If this Letter Agreement No. 1 to Aircraft Lease Agreement is consistent with your understanding of the subject matter hereof, please so confirm by executing this letter where indicated at the end hereof and returning the fully executed letter to Lessor. GENERAL ELECTRIC CAPITAL CORPORATION as Lessor, By: --------------------------------- Name: ------------------------------- Title: ------------------------------ The undersigned hereby confirms that the foregoing letter accurately reflects the understanding of the undersigned with respect to the subject matter of such letter. FRONTIER AIRLINES, INC. as Lessee, By: --------------------------------- Name: ------------------------------- Title: ------------------------------ EXECUTION COPY TAX INDEMNITY AGREEMENT ----------------------- TAX INDEMNITY AGREEMENT dated as of March 25, 1997 (the "Tax Indemnity Agreement") between FRONTIER AIRLINES, INC. (the "Lessee") and GENERAL ELECTRIC CAPITAL CORPORATION (the "Lessor"). As inducement to the Lessor to enter into Aircraft Lease Agreement dated as of March 25, 1997 (the "Lease") with respect to one new Boeing 737-300 Aircraft bearing Manufacturer's Serial Number 28563 (the "Aircraft") to be entered into contemporaneously between Lessor and Lessee and in consideration of the mutual covenants contained herein and therein, the Lessee and the Lessor hereby agree as follows:
AIRWORTHINESS DIRECTIVES COST SHARING. Subject to the provisions of Article 12 (mutatis mutandis), in the event that an Airworthiness Directive is issued after the Delivery Date which Airworthiness Directive requires a modification to the Aircraft which must be performed or terminated prior to the Expiration Date or within One Hundred Eighty (180) days thereafter and the cost of which is in excess of *****, Lessor shall reimburse Lessee for the portion of such cost over ***** in accordance with the following formula: ***** x (C-*****) Where ***** ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission.
