Common use of By Lessor Clause in Contracts

By Lessor. Lessor may immediately terminate this Agreement upon the occurrence of any one of the following: i. In the event Lessee fails to pay Rent or other sums due under this Agreement, and such failure is not corrected within 15 days after receipt by Lessee of written notice by Lessor, or ii. In the event Lessee operates the Aircraft in a manner not permitted by Lessor’s insurance or FAA rules or regulations, upon written notice to Lessee; or iii. In the event Lessee fails to observe or fulfill any term, condition and/or provision of this Agreement other than those specified in Sections 7(a)(i) or 7(a)(ii) and such failure is not corrected within 30 days after receipt by Lessee of written notice from Lessor.

By Lessor. Lessor may immediately terminate this Agreement upon the occurrence of any one of the following: i. (i) In the event Lessee fails to pay Rent or other sums due under this Agreement, and such failure is not corrected within 15 days after receipt by Lessee of written notice by Lessor, or (ii. ) In the event Lessee operates the Aircraft in a manner not permitted by Lessor’s insurance or FAA rules or regulations, upon written notice to Lesseenotice; or (iii. ) In the event Lessee fails to observe or fulfill any term, condition and/or provision of this Agreement other than those specified in Sections 7(a)(i) or 7(a)(ii) and such failure is not corrected within 30 days after receipt by Lessee of written notice from Lessor.