Common use of Default Payments Clause in Contracts

Default Payments. If a Default occurs, the Lessee will indemnify and pay to Lessor on demand against any loss, damage, expense, cost or liability which the Lessor may sustain or incur directly or indirectly as a 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 the Lessor because of the Lessor's inability to place the Aircraft on lease with another Lessee on terms as favorable to the Lessor as this Agreement or because whatever use, if any, to which the Lessor is able to put the Aircraft upon its return to the Lessor, is not as profitable (calculated on an after-tax basis) to the Lessor as this Agreement would have been but for such Default or non-delivery; (c) 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 9.5% per annum as the discount rate, are less than (ii) the aggregate of (1) the present value of 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 9.5% 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 by the Lessee; (e) any loss, premium, penalty or expense 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 the Lessor's financing of the Aircraft; and (f) any loss, cost, expense or liability sustained or incurred by the Lessor owing to the Lessee's failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement. For the avoidance of doubt, the provisions of Clause 5.7(a) will apply to any sums payable by the Lessee pursuant to this Clause 13.4.

Default Payments. If a Default occurs, the Lessee will indemnify and pay to the Lessor on demand against any loss, damage, expense, cost or liability which the Lessor may sustain or incur directly or indirectly as a 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 the Lessor because of the Lessor's inability to place the Aircraft on lease with another Lessee on terms as favorable to the Lessor as this Agreement or because whatever use, if any, to which the Lessor is able to put the Aircraft upon its return to the Lessor, is not as profitable (calculated on an after-tax basis) to the Lessor as this Agreement would have been but for such Default or non-delivery; (cb) in the event that the Aircraft is sold prior as a consequence of the Lessor's inability to Lessor entering enter into a replacement leasesatisfactory lease within a reasonable period, 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 scheduled Expiry Date, discounted on a monthly basis using 9.5% per annum PER ANNUM as the discount rate, are less than (ii) the aggregate of (1) the present value of 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 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 scheduled Expiry Date, discounted on a monthly basis using 9.5% per annum PER ANNUM as the discount rate; (dc) 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 by the Lessee; (ed) any loss, premium, penalty or expense 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 the Lessor's financing of the Aircraft; and (fe) any loss, cost, expense or liability sustained or incurred by the Lessor owing to the Lessee's failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement. For the avoidance of doubt, the provisions of Clause 5.7(a5.8(a) will apply to any sums payable by the Lessee pursuant to this Clause 13.4.

Default Payments. If a an Event of Default occurs, the Lessee will indemnify and pay to the Lessor on demand against any loss, damage, expense, cost or liability liability, including, without limitation, all reasonable attorneys' fees and disbursements, which the Lessor may sustain or incur directly or indirectly as a result, includingincluding but not limited to: (a) all unpaid Basic Rent, Additional Rent and Supplemental Rent then due and unpaid; (bi) any loss of profit (calculated on an after-tax basis) suffered by the Lessor because of the Lessor's inability to place the Aircraft on lease with another Lessee lessee on terms as favorable favourable to the Lessor as this Agreement or because whatever use, if any, to which the Lessor is able to put the Aircraft upon its return to the Lessor, is not as profitable (calculated on an afterAfter-tax basisTax Basis) to the Lessor as this Agreement would have been but for such Default or non-delivery; (cii) in whether or not the event that the Aircraft is sold prior Lessor shall have exercised, or shall thereafter at any time exercise, any of its rights under Clause 13.2 hereof with respect 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 all or any outstanding indebtedness in relation to the financing part of the Aircraft, the Lessor, by written notice to the Lessee specifying a payment date not earlier than ten (10) days from the date of such notice, may demand that the Lessee pay to the Lessor, and the Lessee shall pay to the Lessor, on the payment date specified in such notice, as liquidated damages for loss of a bargain and not as a penalty, in lieu of the installments of Rent due on the Aircraft, Airframe, Engines or Part thereof for periods commencing on or after the payment date specified in such notice, any unpaid Rent due for periods prior to the period commencing with the payment date specified in such notice and other amounts owing under this Agreement (prorated in the case of Rent on a daily basis), including interest thereon at the Default Rate from the original date due under this Agreement to and including the payment date specified in such notice, plus (2) the amount equal to the excess, if any, of 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 9.5% per annum as the discount rate, are less than (ii) the aggregate of the remaining installments of Rent for the remainder of the Term (1determined without reference to any right of the Lessor to terminate the leasing of the Aircraft, whether or not such right is exercised) over the present value of 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 fair market rental value of the income that would have been derived from Aircraft, Airframe, Engine or Part thereof, for the future Basic Rent payable until remainder of such Term, using in each case a discount rate of the Scheduled Expiry Date, discounted amount of interest then paid on a monthly basis using 9.5% per annum as the discount rateU.S. Treasury bills of similar maturity; (diii) 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 by the Lessee; (eiv) any loss, premium, penalty or expense that 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 the Lessor's financing of the Aircraft; and (fv) any loss, cost, expense or liability sustained or incurred by or on behalf of the Lessor, together with interest thereon at the Default Rate from the date such cost or expense is incurred by the Lessor until the date of reimbursement thereof by the Lessee, owing to such Event of Default, the exercise of remedies hereunder or the Lessee's failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement. For the avoidance of doubt, the provisions of Clause 5.7(a5.10(a) will apply to any sums payable by the Lessee pursuant to this Clause 13.4. For the purpose of Clause 13.4(ii) above, the "fair market rental value" of the Aircraft, the Airframe, any Engine or Part thereof shall be the rental value, net of all costs and expenses of recovering the Aircraft, the Airframe or any Engine or Part thereon and restoring its condition to the condition required hereunder, which would be obtained in an arm's length transaction between informed and willing lessee and an informed and willing lessor, based upon the actual condition and location of the Aircraft, Airframe or any Engine or Part thereof, which value shall be determined by a reputable firm of aircraft appraisers selected by the Lessor, the Head Lessor or the Beneficial Owner. The cost of such appraisal shall be borne by the Lessee.

Default Payments. If a an Event of Default occurs, the Lessee will indemnify and pay to the Lessor on demand against any loss, damage, expense, cost or liability which the Lessor may sustain or incur directly or indirectly as a result, including: a. in the event that the Aircraft has not been sold, upon written notice from Lessor to Lessee specifying a payment date not earlier than 15 days from the date of such notice, as liquidated damages for loss of a bargain and not as a penalty (a) all in lieu of the Basic Rent for the Aircraft due for periods commencing after the date specified for payment in such notice), any unpaid Basic Rent, Additional Rent due for periods prior to and Supplemental Rent then due and unpaid; including the period ending with the payment date specified in such notice plus an amount (b) any loss of profit (calculated on an after-tax basis) suffered by the Lessor because of the Lessor's inability to place the Aircraft on lease together with another Lessee on terms as favorable to the Lessor as this Agreement or because whatever useinterest, if any, at the Default Rate on the amount of any such unpaid Basic Rent and on such specified amount from the respective due dates to which and including the Lessor is able actual date of payment) equal to put the excess, if any, of (i) the Termination Value computed as of the Rent Date immediately preceding the date specified for payment in such notice, over (ii) the fair market sales value of the Aircraft; for purposes hereof, the "fair market sales value" of the Aircraft upon its return to shall be as specified in an appraisal by a recognized independent aircraft appraiser chosen by the Lessor, is not as profitable (calculated on an after-tax basis) to the Lessor as this Agreement would have been but for such Default or non-delivery; (c) b. in the event that the Aircraft is sold prior to Lessor entering into a replacement leasesold, the amount (if any) by which (i) the aggregate of (1i) the net sale proceeds (calculated on an after-tax basis by deducting the costs of sale sale, including the loss or recapture of the Lessor's tax benefits, if any, together with the cost of preparing the Aircraft for sale sale, and the repayment of any outstanding indebtedness in relation to the financing of the Aircraft) plus (2ii) the present value of the anticipated after-tax net income to be derived from such net sale proceeds up to the Scheduled scheduled Expiry Date, discounted on a monthly basis using 9.59.0% per annum as the discount rate, are less than (ii) the aggregate of (1) the present value Termination Value computed as of the anticipated net sale proceeds (computed on Rent Date immediately preceding 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 date 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 9.5% per annum as the discount ratesale; (d) c. 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 by the Lessee;; and (e) d. any loss, premium, penalty or expense 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 the Lessor's financing of the Aircraft; and (f) any loss, cost, expense or liability sustained or incurred by the Lessor owing to the Lessee's failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement. For the avoidance of doubt, the provisions of Clause 5.7(a) 5.9 will apply to any sums payable by the Lessee pursuant to this Clause 13.4.

Default Payments. If a an Event of Default occurs, the Lessee will indemnify and pay to Lessor on demand against any lossloss (including loss of profit), damage, expense, cost or liability which the that Lessor may sustain or incur directly or indirectly as a 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 the Lessor because of the Lessor's inability to place the Aircraft on lease with another Lessee on terms as favorable to the Lessor as this Agreement or because whatever use, if any, to which the Lessor is able to put the Aircraft upon its return to Lessor, or the Lessorfunds arising upon a sale or other disposal of the Aircraft, is not as profitable (calculated on an after-tax basis) to the Lessor as this Agreement would have been but for such Default or non-deliveryEvent of Default; (c) 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-after- tax net income to be derived from such net sale proceeds up to the Scheduled Expiry Date, discounted on a monthly basis using 9.5% per annum as the discount rate, are less than (ii) the aggregate of (1) the present value of 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 9.5% 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 by the Lessee; (e) any loss, premium, penalty or expense 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 the Lessor's financing of the Aircraft; and (f) any loss, cost, expense or liability sustained or incurred by the Lessor owing to the Lessee's failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement. For the avoidance of doubt, the provisions of Clause 5.7(a) will apply to any sums payable by the Lessee pursuant to this Clause 13.4.

Default Payments. If a Default occurs, the Lessee will indemnify and pay to the Lessor on demand against any loss, damage, expense, cost or liability which the Lessor may sustain or incur directly or indirectly as a 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 the Lessor because of the Lessor's inability to place the Aircraft on lease with another Lessee on terms as favorable to the Lessor as this Agreement or because whatever use, if any, to which the Lessor is able to put the Aircraft upon its return to the Lessor, is not as profitable (calculated on an after-tax basis) to the Lessor as this Agreement would have been but for such Default or non-delivery; (cb) in the event that the Aircraft is sold prior as a consequence of the Lessor's inability to Lessor entering enter into a replacement leasesatisfactory lease within a reasonable period, 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 scheduled Expiry Date, discounted on a monthly basis using 9.5% per annum PER ANNUM as the discount rate, are less than (ii) the aggregate of (1) the present value of 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 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 scheduled Expiry Date, discounted on a monthly basis using 9.5% per annum PER ANNUM as the discount rate; (dc) 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 by the Lessee; (ed) any loss, premium, penalty or expense 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 the Lessor's financing of the Aircraft; and (fe) any loss, cost, expense or liability sustained or incurred by the Lessor owing to the Lessee's failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement. For the avoidance of doubt, the provisions of Clause 5.7(a5.8(a) will apply to any sums payable by the Lessee pursuant to this Clause 13.4.. -67-

Default Payments. If a Default or an Event of Default occurs, the Lessee will indemnify and pay to the Lessor on demand against any loss, damage, expense, cost or liability which the Lessor may sustain or incur directly or indirectly as a result, includingincluding without limitation: 13.4.1 in the event that the Aircraft has not been sold, upon written notice from Lessor to Lessee specifying a payment date not earlier than 10 days from the date of such notice, as liquidated damages for loss of a bargain and not as a penalty (a) all in lieu of the Basic Rent for the Aircraft due for periods commencing after the date specified for payment in such notice), any unpaid Basic Rent, Additional Rent due for periods prior to and Supplemental Rent then due and unpaid; including the period ending with the payment date specified in such notice plus an amount (b) any loss of profit (calculated on an after-tax basis) suffered by the Lessor because of the Lessor's inability to place the Aircraft on lease together with another Lessee on terms as favorable to the Lessor as this Agreement or because whatever useinterest, if any, at the Default Rate on the amount of any such unpaid Basic Rent and on such specified amount from the respective due dates to which and including the Lessor is able actual date of payment) equal to put the excess, if any, of (i) the Agreed Value computed as of the Rent Date immediately preceding the date specified for payment in such notice, over (ii) the fair market sales value of the Aircraft; for purposes hereof, the "fair market sales value" of the Aircraft upon its return to shall be as specified in an appraisal by a recognized independent aircraft appraiser chosen by the Lessor, is not as profitable (calculated on an after-tax basis) to the Lessor as this Agreement would have been but for such Default or non-delivery; (c) 13.4.2 in the event that the Aircraft is sold prior to Lessor entering into a replacement leasesold, the amount (if any) by which (i) the aggregate of (1i) the net sale proceeds (calculated on an after-tax basis by deducting the costs of sale sale, including the loss or recapture of the Lessor's tax benefits, if any, together with the cost of preparing the Aircraft for sale sale, and the repayment of any outstanding indebtedness in relation to the financing of the Aircraft) plus (2ii) the present value of the anticipated after-tax net income to be derived from such net sale proceeds up to the Scheduled scheduled Expiry Date, discounted on a monthly basis using 9.54 % per annum as the discount rate, are less than (ii) the aggregate of (1) the present value Agreed Value computed as of the anticipated net sale proceeds (computed on Rent Date immediately preceding 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 date 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 9.5% per annum as the discount ratesale; (d) 13.4.3 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 by the Lessee;; and (e) 13.4.4 any loss, premium, penalty or expense 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 the Lessor's financing of the Aircraft; and (f) any loss, cost, expense or liability sustained or incurred by the Lessor owing to the Lessee's failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement. For the avoidance of doubt, the provisions of Clause 5.7(a) Section 5.9 will apply to any sums payable by the Lessee pursuant to this Clause Section 13.4. Without prejudice to any of Lessee's obligations pursuant to this Section 13.4, on reasonable request of Lessee, Lessor will provide reasonable evidence to Lessee of any loss, damage, expense or liability for which Lessor seeks indemnification from Lessee pursuant to this Section 13.4.

Default Payments. If 4.1 Following service of a Default occursLease Operator Termination Notice, the Lessee will indemnify and pay Owner shall be entitled to Lessor on recover within five days of a demand against any loss, damage, expense, cost or liability which an amount calculated as at the Lessor may sustain or incur directly or indirectly as termination of this Agreement being a result, includingsum equal to the aggregate of: (a) all unpaid Basic Rent, Additional Rent arrears of Rental and Supplemental Rent then all other amounts accrued and due and unpaidunder the terms of this Agreement; (b) any loss of profit costs and expenses incurred by the Owner collecting any payments due but not paid when done under this Agreement; (calculated on an after-tax basisc) any other Losses suffered by the Lessor because Owner under this Agreement and arising as a result of such termination, including, without limitation, the proper and reasonable costs of the Lessor's inability Owner in relation to place agreeing and implementing an Operator Accession or an Operator Transfer Scheme, provided that the Aircraft on lease with another Lessee on terms as favorable Owner shall not be entitled to recover (by way of indemnity or otherwise) more than once in respect of the Lessor as same loss or damage under this Agreement or because whatever use, if any, to which any other Contract; (d) any costs and expenses reasonably incurred by the Lessor is able to put Owner in recovering or bringing the Aircraft upon its return Units and any Associated Equipment into the Redelivery Condition (Lease) or bringing them to the Lessor, is not as profitable (calculated on an after-tax basis) Redelivery Location save and to the Lessor as extent that such costs and expenses are recovered under a Redelivery Condition Bond; and (e) an amount equal to interest on all sums specified in paragraphs 4.1(a) and (c) inclusive at the Default Interest Rate from the date on which such payments become due until the date they are paid. 4.2 In making a demand under paragraph 4.1 the Owner shall, acting reasonably, determine the amounts set in paragraph 4.1. 4.3 Upon the termination of the leasing of the Units, the Associated Equipment and the Simulators pursuant to paragraph 4.1, the Operator shall: (a) immediately stop using the Units, the Associated Equipment and the Simulators for any purpose; (b) return or store the Units, the Associated Equipment and the Simulators in accordance with the Owner’s instructions; (c) cease to be in possession of the Units, the associated Technical Records, the Associated Equipment and the Simulators unless with the consent of the Owner; and (d) subject to any Owner right of set off under clause 32.1, be entitled to receive from the Owner a rebate of Rental already paid in respect of any period following the date of such termination. 4.4 If the Operator is in breach of any of its obligations under this Agreement would and the Owner incurs any costs or expenses: (a) in respect of the Units, the associated Technical Records, the Associated Equipment and the Simulators which should have been but for such Default or non-deliveryincurred by the Operator; (b) in ensuring that the Operator performs its obligations under this Agreement; (c) in remedying a breach of contract by the event that the Aircraft is sold prior to Lessor entering into a replacement leaseOperator, 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 9.5% per annum as the discount rate, are less than (ii) the aggregate of (1) the present value of 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 9.5% per annum as the discount rate;or (d) in relation to agreeing and implementing an Operator Accession or an Operator Transfer Scheme in accordance with paragraph 2 of schedule 2.1 (Section 54 Undertakings) of the Umbrella Agreement, the Owner shall be entitled (without prejudice to any amount of principal, interest, fees other rights it may have hereunder) to recover such expenditure from the Operator or other sums whatsoever paid or payable an Existing Operator together with interest on account of funds borrowed in order to carry any amount unpaid by that sum at the Lessee; (e) any loss, premium, penalty or expense that may be Default Interest Rate from the date on which such expenditure is 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 the Lessor's financing date of the Aircraft; and (f) any loss, cost, expense or liability sustained or incurred by the Lessor owing payment thereof to the Lessee's failure to redeliver the Aircraft on the date, at the place and in the condition required by this Agreement. For the avoidance of doubt, the provisions of Clause 5.7(a) will apply to any sums payable by the Lessee pursuant to this Clause 13.4Owner.