Common use of Damage or Incident Not Constituting a Total Loss Clause in Contracts

Damage or Incident Not Constituting a Total Loss. Following the occurrence of any damage to the Aircraft, any Engine or any Part that does not constitute a Total Loss or an Engine Loss and where either (i) the potential cost of repair may reasonably be expected to exceed the Damage Notification Threshold or (ii) Lessor notifies Lessee in writing that Lessor reasonably believes the damage will permanently affect the value of the Aircraft, Lessee shall take the following actions: (a) Lessee shall consult with, and comply with, all reasonable instructions of Lessor with respect to the accomplishment of repairs; (b) Lessee shall obtain Lessor’s consent prior to agreeing any repair workscope or seeking Manufacturer approval in connection with any such repairs; and (c) Lessee shall obtain a written certification satisfactory to Lessor from all relevant Manufacturers as to the accomplishment of repairs.

Appears in 3 contracts

Samples: Lease Agreement, Aircraft Lease Agreement, Lease Agreement

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Damage or Incident Not Constituting a Total Loss. Following the occurrence of any damage to the Aircraft, any Engine or any Part that does not constitute a Total Loss or an Engine Loss and where either (i) the potential cost of repair may reasonably be expected to exceed the Damage Notification Threshold or (ii) Lessor notifies Lessee in writing that Lessor reasonably believes the damage will permanently affect the value of the Aircraft, Lessee shall take the following actions: (a) Lessee shall consult with, and comply with, all reasonable instructions of Lessor with respect to the accomplishment of repairs; (b) Lessee shall obtain Lessor’s consent prior to agreeing any repair workscope or seeking Manufacturer approval in connection with any such repairs; and (c) Lessee shall obtain a written certification satisfactory to Lessor from all relevant Manufacturers Manufacturer’s as to the accomplishment of repairs.

Appears in 1 contract

Samples: Lease Agreement (Global Crossing Airlines Group Inc.)

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