Common use of Cape Town Convention Remedies Clause in Contracts

Cape Town Convention Remedies. If the Cape Town Convention has been or is ratified or made applicable in , then LESSEE and LESSOR acknowledge and agree that: (a) each of the Events of Default set forth in Article 25.2 will be deemed to be an event that constitutes a “default” as such term is used in the Cape Town Convention; and (b) upon the occurrence of any Event of Default (i) LESSOR will be afforded all speedy and other relief, rights and remedies specified in the Cape Town Convention as a result of such Event of Default, (ii) all of the rights of LESSOR specified in Article 25.3 will be construed to be “additional remedies” as permitted by the Cape Town Convention which may be exercised by LESSOR pursuant to this Lease subject to the requirements of applicable Law and (iii) LESSOR may, without notice to LESSEE, take all steps as are contemplated by the Cape Town Convention to deregister the Aircraft, export the Aircraft from the State of Registration and, if applicable, discharge the international interest in respect of the Aircraft, this Lease and the other Operative Documents from the International Registry.

Cape Town Convention Remedies. If the Cape Town Convention has been or is ratified or made applicable in , then LESSEE and LESSOR acknowledge and agree that: (a) each of the Events of Default set forth in Article 25.2 will be deemed to be an event that constitutes a “"default” " as such term is used in the Cape Town Convention; and; (b) upon the occurrence of any Event of Default (i) LESSOR will be afforded all speedy and other relief, rights and remedies specified in the Cape Town Convention as a result of such Event of Default, (ii) all of the rights of LESSOR specified in Article 25.3 will be construed to be “"additional remedies” " as permitted by the Cape Town Convention which may be exercised by LESSOR pursuant to this Lease subject to the requirements of applicable Law and (iii) LESSOR may, without notice to LESSEE, take all steps as are contemplated by the Cape Town Convention to deregister the Aircraft, export the Aircraft from the State of Registration and, if applicable, discharge the international interest International Interest in respect of the Aircraft, this Lease and the other Operative Documents from the International Registry; and (c) LESSEE will not take the position or assert that the protection of Alternative A of the Protocol should be unavailable to LESSOR in respect of the Aircraft or this Lease including, without limitation, in the event of an Insolvency Proceeding.