Common use of CASUALTY OCCURRENCE WITH RESPECT TO THE AIRFRAME Clause in Contracts

CASUALTY OCCURRENCE WITH RESPECT TO THE AIRFRAME. Within fifteen (15) days after a Casualty Occurrence during the Term with respect to the Airframe and any Engine then installed thereon, Lessee shall give Lessor written notice of such occurrence. On or before one hundred twenty (120) days after the date of the Casualty Occurrence, but in no event later than the date of receipt of insurance proceeds in respect of such Casualty Occurrence, Lessee shall pay to Lessor in immediately available funds an amount equal to the sum of (i) the Casualty Value of the Aircraft computed as of the date of payment less an amount equal to the daily equivalent of Basic Rent (computed on the basis of a 360-day year) for each day during the period commencing with the day after payment of such Casualty Value and extending to, but excluding, the Basic Rent Payment Date immediately following payment of such Casualty Value, and (ii) all Supplemental Rent accrued or due and unpaid (other than Maintenance Payments which would have been payable by Lessee pursuant to Section 16(m) and amounts paid pursuant to clause (i) above), computed as of the date of payment less any Security Deposit then held by Lessor. Upon such payment (A) the obligation of Lessee to make further payments of Basic Rent hereunder shall terminate, (B) this Lease shall terminate with respect to the Aircraft and (C) Lessor will cause Owner to transfer to Lessee or its insurers (as directed by Lessee), without recourse or warranty, all of Owner's right, title and interest, if any, in and to the Airframe and Engines (if any) suffering the Casualty Occurrence, as well as all of Owner's right, title and interest in and to any Engine constituting part of the Aircraft but not installed thereon at the time of the Casualty Occurrence in each case free of any Lessor's Liens.

CASUALTY OCCURRENCE WITH RESPECT TO THE AIRFRAME. Within fifteen five (155) days after a Casualty Occurrence during the Term with respect to the Airframe and any Engine then installed thereon, Lessee shall give Lessor written notice of such occurrence. On or before one hundred twenty thirty (12030) days after the date of the Casualty Occurrence, but in no event later than Occurrence with respect to the date of receipt of insurance proceeds in respect of such Casualty OccurrenceAircraft, Lessee shall pay to Lessor in immediately available funds an amount equal to the sum of (i) the Casualty Value of the Aircraft computed as of the date of payment less an amount equal to the daily equivalent of Basic Rent (computed on the basis of a 360365-day year) for each day during the period commencing with the day after payment of such Casualty Value and extending to, but excluding, the Basic Rent Payment Date immediately following payment of such Casualty Value, and (ii) all Supplemental Rent accrued or due and unpaid (Rent, other than Maintenance Payments which would have been payable by Lessee pursuant to Section 16(m) and amounts paid pursuant to clause Section (i) above), computed as of the date of payment less any Security Deposit then held by Lessorpayment. Upon such payment (A) the obligation of Lessee to make further payments of Basic Rent hereunder shall terminate, (B) this Lease shall terminate with respect to the Aircraft and (C) Lessor will cause Owner to transfer to Lessee or its insurers (as directed by Lessee), without recourse or warranty, all of OwnerLessor's right, title and interest, if any, in and to the Airframe and Engines (if any) suffering the Casualty Occurrence, as well as all of OwnerLessor's right, title and interest in and to any Engine constituting part of the Aircraft but not installed thereon at the time of the Casualty Occurrence in each case free of any Lessor's LiensOccurrence.

CASUALTY OCCURRENCE WITH RESPECT TO THE AIRFRAME. Within fifteen two (152) days after a Casualty Occurrence during the Term with respect to the Airframe and any Engine then installed thereon, Lessee shall give Lessor and Lessor's Aircraft Manager written notice of such occurrence. On or before one hundred twenty the date which is ninety (12090) days after the date of the Casualty Occurrence, but in no event later than the date of two (2) Business Days after receipt of insurance proceeds in respect of such Casualty Occurrence, Lessee shall pay to Lessor in immediately available funds an amount equal to the sum of (i) the Casualty Value of the Aircraft computed as plus (ii) the amount of Rent (other than Maintenance Reserve Payments), if any, accrued up to the date of payment less an amount equal to the daily equivalent of Basic Rent such Casualty Value (computed on the basis of actual days elapsed and a 360-day year) for each day during the period commencing with with, and including, the day after payment of such Casualty Value last preceding Rent Payment Date and extending to, but excluding, the Basic Rent Payment Date immediately following date of payment of such Casualty Value, and (ii) all Supplemental Rent accrued or due and unpaid (other than Maintenance Payments which would have been payable by Lessee pursuant to Section 16(m) and amounts paid pursuant to clause (i) above), computed as of the date of payment less any Security Deposit then held by Lessor. Upon such payment (A) the obligation of Lessee to make further payments of Basic Rent (other than Supplemental Rent) hereunder shall terminate, (B) this Lease shall terminate with respect to the Aircraft and (C) Lessor will cause Owner to transfer to Lessee or its insurers (as directed by Lessee), without recourse or warranty, all of OwnerLessor's right, title and interest, if any, in and to the Airframe and Engines (if any) suffering the Casualty Occurrence, as well as all of OwnerLessor's right, title and interest in and to any Engine constituting part of the Aircraft but not installed thereon at the time of the Casualty Occurrence; provided, however, that there shall be excluded from such assignment any and all claims against any Persons which arose prior to the date of such assignment, including without limitation any and all claims against any Persons who may have been responsible, in whole or in part, for the events giving rise to such Casualty Occurrence, but such exclusion shall be limited to the portion of such claims which exceeds the amounts paid to Lessor in respect of such Casualty Occurrence in each case free by Lessee or the insurers under any policy of any Lessor's Liensinsurance maintained by Lessee pursuant to Section 12 hereof.

CASUALTY OCCURRENCE WITH RESPECT TO THE AIRFRAME. Within fifteen (15) days after a Casualty Occurrence during the Term with respect to the Airframe and any Engine then installed thereon, Lessee shall give Lessor written notice of such occurrence. On or before one hundred twenty (120) forty-five days after the date of the Casualty Occurrence, but in no event later than the date of receipt of insurance proceeds in respect of such Casualty Occurrence, Lessee shall pay to Lessor in immediately available funds an amount equal to the sum of (iA) the Casualty Value of the Aircraft computed as of the date of payment less payment, plus an amount equal to the daily equivalent of Basic Rent (computed on the basis of a 360-day year) and Additional Rent for each day during the period commencing with the day after Basic Rent Payment Date immediately preceding payment of such Casualty Value and extending to, but excluding, excluding the Basic Rent Payment Date immediately following date of payment of such Casualty Value, and (iiB) all Supplemental Rent accrued or due and unpaid (Rent, other than Maintenance Payments which would have been payable by Lessee pursuant to Section 16(m) and amounts paid pursuant to clause (i) aboveA), computed as of the date of payment less any Security Deposit then held by Lessorpayment. Upon such payment (Ai) the obligation of Lessee to make further payments of Basic Rent and Additional Rent hereunder shall terminate, (Bii) this Lease shall terminate with respect to the Aircraft Aircraft, and (Ciii) Lessor will cause Owner to transfer to Lessee or its insurers (as directed by Lessee), without recourse or warranty, all of OwnerLessor's right, title and interest, if any, in and to the Airframe and Engines (if any) suffering the Casualty Occurrence, Occurrence as well as all of OwnerLessor's right, title and interest in and to any Engine constituting part of the Aircraft but not installed thereon at the time of the Casualty Occurrence in each case Occurrence. Such transfer shall be without recourse or warranty, except that Lessor shall warrant it has good title to the Airframe and Engines (if any), free and clear of any Lessor's Liens.