CHANGES IN DELIVERY DATE Clause Samples

CHANGES IN DELIVERY DATE. If on the Scheduled Delivery Date any of the conditions precedent specified in Schedules 7 or 8 has not been met or waived in accordance with such Schedules, then the delivery of the Aircraft under this Lease Agreement shall be delayed beyond the Scheduled Delivery Date and Lessee shall accept delivery of the Aircraft on the first Business Day after the Scheduled Delivery Date on which all of such conditions precedent have been so satisfied or waived. Notwithstanding the foregoing, if delivery of the Aircraft under the Lease Agreement is delayed more than 365 days past the last day of [______], either party hereto (unless such delay is caused by such party failing to satisfy a condition precedent for which it is responsible as set forth in Schedule 7 or 8, as applicable) may, by written notice to the other, terminate this Lease Agreement and each other Operative Document, whereupon, except as otherwise provided in Section 13 of the Lease Agreement, (1) Lessor shall return to Lessee the Security Deposit and/or the Letter of Credit and any amounts of Rent—Periodic paid by Lessee prior to such termination and (2) neither Lessor nor Lessee shall have any further obligation to the other hereunder or thereunder. If the Delivery Date has not occurred on or prior to the Scheduled Delivery Date, and Lessee does not exercise its option to terminate this Agreement pursuant to this Section 2, Lessor shall pay to Lessee Lessee’s Share of any per ▇▇▇▇ ▇▇▇▇▇ penalty actually paid by Airframe Manufacturer for the Aircraft with respect to the period from the Scheduled Delivery Date through the Delivery Date. If the Delivery Date occurs then such amount shall be paid by Lessor to Lessee promptly after the Delivery Date and if the Delivery Date does not occur or a Payment/Bankruptcy Default has occurred and is continuing then Lessee shall not be entitled to any share of such penalty. For purposes of this paragraph, “Lessee’s Share” shall be such per ▇▇▇▇ ▇▇▇▇▇ penalty payable, and actually paid, by Airframe Manufacturer to the extent it exceeds Lessor’s costs and expenses arising out of such delay, including, without limitation Lessor’s cost of funds for any pre-delivery payments held by Airframe Manufacturer. If an Event of Loss occurs with respect to the Aircraft prior to the Delivery Date and the Aircraft is not being replaced by the Airframe Manufacturer pursuant to the purchase agreement for the Aircraft and the Scheduled Delivery Date postponed accordingly, then this L...