Common use of Default Payments Clause in Contracts

Default Payments. If:- (a) a Default occurs; or (b) the Aircraft is not delivered on the proposed Delivery Date by reason of failure of Lessee to satisfy any conditions to that delivery; Lessee will indemnify Lessor on its own behalf and on behalf of Owner and Sub Lessor on demand against any loss (including loss of profit), damage, expense, cost or liability which Lessor, Sub Lessor or Owner may sustain or incur directly or indirectly as a result including but not limited to:- (a) any loss of profit suffered by Lessor, Sub Lessor or Owner because of Lessor's or Owner's inability to place the Aircraft on lease with another lessee on terms as favourable to Lessor as this Agreement or because whatever use, if any, to which Lessor, Sub Lessor or Owner is able to put the Aircraft upon its return to Lessor, or the funds arising upon a sale or other disposal of the Aircraft, is not as profitable to Lessor, Sub Lessor or Owner as this Agreement; (b) any amount of principal, interest, fees or other sums whatsoever paid or payable on account of funds borrowed in order to carry any unpaid amount; (c) any loss, premium, penalty or expense which may be incurred in repaying funds raised to finance the Aircraft or in unwinding any swap, forward interest rate agreement or other financial instrument relating in whole or in part to Lessor's, Sub Lessor's or Owner's financing of the Aircraft; and (d) any loss, cost, expense or liability sustained or incurred by Lessor owing to Lessee's failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement.

Default Payments. If:- (a) a If an Event of Default occurs; or (b) the Aircraft is not delivered on the proposed Delivery Date by reason of failure of Lessee to satisfy any conditions to that delivery; , Lessee will indemnify Lessor on its own behalf and on behalf of Owner and Sub pay to Lessor on demand against any loss (including loss of profit), damage, expense, cost or liability which Lessor, Sub that Lessor or Owner may sustain or incur directly or indirectly as a result including but not limited to:-result, including: (a) all unpaid Basic Rent, Additional Rent and Supplemental Rent then due and unpaid; (b) any loss of profit (calculated on an after-tax basis) suffered by Lessor, Sub Lessor or Owner because of Lessor's or Owner's ’s inability to place the Aircraft on lease with another lessee on terms as favourable favorable to Lessor as this Agreement or because whatever use, if any, to which Lessor, Sub Lessor or Owner is able to put the Aircraft upon its return to Lessor, or the funds arising upon a sale or other disposal of the Aircraft, is not as profitable (calculated on an after-tax basis) to Lessor, Sub Lessor or Owner as this AgreementAgreement would have been but for such Event of Default; (bc) in the event that the Aircraft is sold prior to Lessor entering into a replacement lease, the amount (if any) by which (i) the aggregate of (1) the net sale proceeds (calculated by deducting the costs of sale together with the cost of preparing the Aircraft for sale and the repayment of any outstanding indebtedness in relation to the financing of the Aircraft) plus (2) the present value of the anticipated after-tax net income to be derived from such net sale proceeds up to the Scheduled Expiry Date, discounted on a monthly basis using 3.0% per annum as the discount rate, are less than (ii) the aggregate of (1) the anticipated net sale proceeds (computed on the same basis as the net sale proceeds referred to in (i)(1) above), assuming that the Aircraft would have been sold as soon as reasonably practicable following the Scheduled Expiry Date plus (2) the present value of the income that would have been derived from the future Basic Rent payable until the Scheduled Expiry Date, discounted on a monthly basis using 3.0% per annum as the discount rate; (d) any amount of principal, interest, fees or other sums whatsoever paid or payable on account of funds borrowed in order to carry any amount unpaid amountby Xxxxxx; (ce) any loss, premium, penalty or expense which that may be incurred in repaying funds raised to finance the Aircraft or in unwinding any swap, forward interest rate agreement or other financial instrument relating in whole or in part to Lessor's, Sub Lessor's or Owner's ’s financing of the Aircraft; and (df) any loss, cost, expense or liability sustained or incurred by Lessor owing to Lessee's Xxxxxx’s failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement.

Default Payments. If:-If: (a) a an Event of Default occurs; or (b) , and/or the Aircraft is not redelivered on the Expiry Date or the Aircraft is not delivered to and accepted by Lessee on the proposed Scheduled Delivery Date Date, other than as a result of any default by reason Lessor (save where such default arises as a result of failure any act, omission or default of Lessee to satisfy or any conditions to that delivery; Manufacturer and/or maintenance contractor). Lessee will indemnify Lessor on its own behalf and on behalf of Owner and Sub Lessor on demand against any loss (including loss of profit), damage, expense, cost or liability which Lessor, Sub Lessor or Owner may sustain or incur directly or indirectly as a result including but not limited to:-to (but without duplication of amounts referred to in (i) to (iv) below): (ai) any loss of profit suffered by Lessor, Sub Lessor or Owner because of Lessor's or Owner's ’s inability to place the Aircraft on lease with another lessee on terms as favourable to Lessor as this Agreement or because whatever use, if any, to which Lessor, Sub Lessor or Owner is able to put the Aircraft upon its return to Lessor, or the funds arising upon a sale or other disposal of the Aircraft, is not as profitable to Lessor, Sub Lessor or Owner as this Agreement; (bii) any amount of principal, interest, fees or other sums whatsoever paid or payable on account of additional funds borrowed in order to carry any unpaid amount; (ciii) any loss, premium, penalty or expense which may be incurred in repaying funds raised to finance the Aircraft or in unwinding any swap, forward interest rate agreement or other financial instrument relating in whole or in part to Lessor's, Sub Lessor's or Owner's ’s financing of the Aircraft; and (div) any loss, cost, expense or liability actually sustained or incurred by Lessor owing to Lessee's ’s failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement; and (b) Lessor will use reasonable endeavours to mitigate any loss, damages, cost or expenses incurred by it as a result of the foregoing.

Default Payments. If:- (a) a If an Event of Default occurs; or (b) the Aircraft is not delivered on the proposed Delivery Date by reason of failure of , in addition to any loss, damage or other amount available under Applicable Law, Lessee shall indemnify and pay to satisfy any conditions to that delivery; Lessee will indemnify Lessor on its own behalf and on behalf of Owner and Sub Lessor on demand against any loss (including loss of profit), damage, expense, cost or liability which Lessor, Sub that Owner or Lessor or Owner may sustain or incur directly or indirectly as a result including but not limited to:- result, including: (a) all Basic Rent, Additional Rent and Supplemental Rent which are then due and unpaid or which become due prior to Lessor's recovery of possession of the Aircraft; (b) any loss of profit (calculated on an after-tax basis) suffered by Lessor, Sub Lessor or Owner because of Lessor's or Owner's inability to place the Aircraft on lease with another lessee on terms as favourable favorable to Lessor as the terms of this Agreement or because whatever use, if any, to which Lessor, Sub Lessor or Owner is able to put the Aircraft upon its return to Lessor, or the funds arising upon a sale or other disposal disposition of the Aircraft, is not as profitable (calculated on an after-tax basis) to Lessor, Sub Lessor or Owner as this Agreement would have been but for such Event of Default; (c) any cost or expense incurred in connection with the exercise by Lessor of its remedies under this Agreement; , including costs incurred in respect of repossession, insurance, legal services, consulting services, storage and preservation, repair and remarketing of the Aircraft to third parties; (bd) any amount of principal, interest, fees or other sums whatsoever paid or payable on account of funds borrowed in order to carry any amount unpaid amount; by Lessee; (c) any loss, premium, penalty or expense which may be incurred in repaying funds raised to finance the Aircraft or in unwinding any swap, forward interest rate agreement or other financial instrument relating in whole or in part to Lessor's, Sub Lessor's or Owner's financing of the Aircraft; and (de) any loss, cost, expense or liability sustained or incurred by Lessor owing to Lessee's failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement, including an amount equal to the costs incurred (or likely to be incurred) by Lessor for maintenance and/or modifications as necessary to put the Aircraft into such condition and an amount sufficient to fully compensate Lessor for loss of bargain if such failure results in the cancellation of a pending sale or lease of the Aircraft; (f) any additional amount as may be necessary to place Lessor in the same economic position, on an after-tax basis, as Lessor would have been in if Lessee had properly and fully performed each of its obligations under this Agreement.

Default Payments. If:- (a) a Default occurs; or (b) the Aircraft is not delivered on the proposed Delivery Date by reason of failure of Lessee to satisfy any conditions to that delivery; Lessee will indemnify Lessor on its own behalf and on behalf of Owner and Sub Lessor on demand against any loss (including loss of profit), damage, expense, cost or liability which Lessor, Sub Lessor or Owner may sustain or incur directly or indirectly as a result including but not limited to:- (a) any loss of profit suffered by Lessor, Sub Lessor or Owner because of Lessor's or Owner's inability to place the Aircraft on lease with another lessee on terms as favourable to Lessor as this Agreement or because whatever use, if any, to which Lessor, Sub Lessor or Owner is able to put the Aircraft upon its return to Lessor, or the funds arising upon a sale or other disposal of the Aircraft, is not as profitable to Lessor, Sub Lessor or Owner as this Agreement; (b) any amount of principal, interest, fees or other sums whatsoever paid or payable on account of funds borrowed in order to carry any unpaid amount; (c) any loss, premium, penalty or expense which may be incurred in repaying funds raised to finance the Aircraft or in unwinding any swap, forward interest rate agreement or other financial instrument relating in whole or in part to Lessor's, Sub Lessor's or Owner's financing of the Aircraft; and (d) any loss, cost, expense or liability sustained or incurred by Lessor owing to Lessee's failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement.

Default Payments. If:- (a) If a Default occurs; or (b) the Aircraft is not delivered on the proposed Delivery Date by reason of failure of Lessee to satisfy any conditions to that delivery; , Lessee will indemnify Lessor on its own behalf and on behalf of Owner and Sub Lessor on demand against any loss (including loss of profit), damage, expense, cost or liability which Lessor, Sub Lessor or Owner may sustain or incur directly or indirectly as a result including but not limited to:-to: (a) any loss of profit suffered by Lessor, Sub Lessor or Owner because of Lessor's or Owner's ’s inability to place the Aircraft on lease with another lessee on terms as favourable favorable to Lessor as this Agreement or because whatever use, if any, to which Lessor, Sub Lessor or Owner is able to put the Aircraft upon its return to Lessor, or the funds arising upon a sale or other disposal of the Aircraft, is not as profitable to Lessor, Sub Lessor or Owner as this Agreement; (b) all amounts which are then due and unpaid hereunder and which become due prior to the earlier of Lessor’s recovery of possession of the Aircraft or Lessee making an effective tender thereof; (c) any amount of principal, interest, fees or other sums whatsoever paid or payable on account of funds borrowed in order to carry any unpaid amount; (cd) any loss, premium, penalty or expense which may be incurred in repaying funds raised to finance the Aircraft or in unwinding any swap, forward interest rate agreement or other financial instrument relating in whole or in part to Lessor's, Sub Lessor's or Owner's ’s financing of the Aircraft; and (de) any loss, cost, expense or liability sustained or incurred by Lessor owing to Lessee's ’s failure to redeliver the Aircraft on the that date, at the place and in the condition required by this Agreement; (f) all costs associated with Lessor’s exercise of its remedies hereunder, including repossession costs, legal fees, Aircraft storage costs, Aircraft re-lease or sale costs and Lessor’s internal costs and expenses (including the cost of personnel time calculated based upon the compensation paid to the individuals involved on an annual basis and a general Lessor overhead allocation; and (g) the application of all amounts paid to Lessor as Security Deposit pursuant to this Lease, as well as any other amounts held by Lessor hereunder, all of which may be kept and set off by Lessor.

Default Payments. If:-if: (a) a Default occurs; or (b) the Aircraft is not delivered on the proposed Delivery Commencement Date by reason of failure of Lessee to satisfy any conditions to that delivery; at Lessor's election, the present value of all Rent due and payable under this Agreement after the date of the Default shall immediately become due and payable (such amounts to be discounted to the then present value at the rate of 8.5% per annum) as liquidated damages for the loss of a bargain and not as a penalty. In addition, Lessee will indemnify Lessor on its own behalf and on behalf of Owner and Sub Lessor on demand against any loss (including loss of profit), damagedamages, expense, cost or liability which Lessor, Sub Lessor or Owner may sustain or incur directly or indirectly as a result including but not limited to:-to:-- (ai) any loss of profit suffered by Lessor, Sub Lessor or Owner because of Lessor's or Owner's inability to place the Aircraft on lease with another lessee on terms as favourable favorable to Lessor as this Agreement or because whatever use, if any, to which Lessor, Sub Lessor or Owner is able to put the Aircraft upon its return to Lessor, or the funds arising upon a sale or other disposal of the Aircraft, is not as profitable to Lessor, Sub Lessor or Owner as this Agreement; (bii) any amount of principal, interest, fees or other sums whatsoever paid or payable on account of funds borrowed in order to carry any unpaid amount; (ciii) any loss, premium, penalty or expense which may be incurred in repaying funds raised to finance the Aircraft or in unwinding any swap, forward interest rate agreement or other financial instrument relating in whole or in part to Lessor's, Sub Lessor's or Owner's financing of the Aircraft; and (div) any loss, cost, loss cost expense or liability sustained or incurred or by Lessor owing to Lessee's failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement.

Default Payments. If:-If (a) a Default occurs; or (b) the Aircraft is not delivered on the proposed Delivery Commencement Date by reason of failure of Lessee to satisfy any conditions to that delivery; at Lessor's election, the present value of all Rent due and payable under this Agreement after the date of the Default shall immediately become due and payable (such amounts to be discounted to the then present value at the rate of 8.5% per annum) as liquidated damages for the loss of a bargain and not as a penalty. In addition, Lessee will indemnify Lessor on its own behalf and on behalf of Owner and Sub Lessor on demand against any loss (including loss of profit), damagedamages, expense, cost or liability which Lessor, Sub Lessor or Owner may sustain or incur directly or indirectly as a result including but not limited to:-to: (ai) any loss of profit suffered by Lessor, Sub Lessor or Owner because of Lessor's or Owner's inability to place the Aircraft on lease with another lessee on terms as favourable favorable to Lessor as this Agreement or because whatever use, if any, to which Lessor, Sub Lessor or Owner is able to put the Aircraft upon its return to Lessor, or the funds arising upon a sale or other disposal of the Aircraft, is not as profitable to Lessor, Sub Lessor or Owner as this Agreement; (bii) any amount of principal, interest, fees or other sums whatsoever paid or payable on account of funds borrowed in order to carry any unpaid amount; (ciii) any loss, premium, penalty or expense which may be incurred in repaying funds raised to finance the Aircraft or in unwinding any swap, forward interest rate agreement or other financial instrument relating in whole or in part to Lessor's, Sub Lessor's or Owner's financing of the Aircraft; and (div) any loss, cost, expense or liability sustained or incurred by Lessor owing to Lessee's failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement.

Default Payments. If:-If: (a) an Event of Default occurs or a Default occursis continuing beyond the end of Term; or (b) the Aircraft is not delivered on the proposed Delivery Date by reason of failure of Lessee to satisfy any conditions to that deliverydelivery (unless such failure is due to the willful misconduct or negligence of Lessor); Lessee will indemnify Lessor on its own behalf and on behalf of Owner and Sub Lessor on demand against any loss (including loss of profit), damage, expense, cost or liability which Lessor, Sub Lessor or Owner may sustain or incur directly or indirectly as a result including but not limited to:-to: (a) any loss of profit suffered by Lessor, Sub Lessor or Owner because of Lessor's or Owner's inability to place the Aircraft on lease with another lessee on terms as favourable favorable to Lessor as this Agreement or because whatever use, if any, to which Lessor, Sub Lessor or Owner is able to put the Aircraft upon its return to Lessor, or the funds arising upon a sale or other disposal of the Aircraft, is not as profitable to Lessor, Sub Lessor or Owner as this Agreement; (b) any amount of principal, interest, fees or other sums whatsoever paid or payable on account of funds borrowed in order to carry any unpaid amount; (c) any loss, premium, penalty or expense which may be incurred in repaying funds raised to finance the Aircraft or in unwinding any swap, forward interest rate agreement or other financial instrument relating in whole or in part to Lessor's, Sub Lessor's or Owner's financing of the Aircraft; and (db) any loss, cost, expense or liability sustained or incurred by Lessor owing to Lessee's failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement, including without limitation, if Lessor or Beneficiary had made, prior to the scheduled redelivery of the Aircraft, binding arrangements for the release or sale of the Aircraft upon or after the scheduled redelivery of the Aircraft, any loss (including loss of profit), damage, expense, cost or liability (a "Subsequent Arrangement Loss") which Lessor or Beneficiary may sustain or incur directly arising out of any delay or termination of, or any default under, such arrangements directly or indirectly as a result of any such failure of Lessee to redeliver the Aircraft on the date, at the place or in the condition required by this Agreement; provided that Lessee will not be required to indemnify Lessor for any Subsequent Arrangement Loss resulting from the failure of Lessee to redeliver the Aircraft in the condition required by this Agreement if the Aircraft is in the condition required by this Agreement no later than seven days after the end of the Term.