Basic Rent Date. (a) The first payment of Basic Rent shall be made on or prior to the Delivery Date, as a condition of the Delivery, in an amount equal to the product of (i) the monthly Basic Rent multiplied by (ii) a fraction (A) whose numerator is the number of days from and after the Delivery Date remaining in the month which includes the Delivery Date and (B) whose denominator is the total number of days in such month. (b) On each Basic Rent Date following the Delivery Date (through the time set forth in Section 4.2(a) hereof, Lessee shall pay the Basic Rent to Lessor as required by Section 4.2(a).
Appears in 5 contracts
Samples: Air Transportation Services Agreement (Air Transport Services Group, Inc.), Air Transportation Services Agreement (Air Transport Services Group, Inc.), Lease Assumption and Option Agreement (Air Transport Services Group, Inc.)
