DEFERRED DISCREPANCY CORRECTION Sample Clauses

DEFERRED DISCREPANCY CORRECTION. Any discrepancies found during the ground inspection, operational ground check and operational check flight set forth in Sections 10.05, 10.06 and 10.07 above, which were not corrected by Lessee prior to return of Aircraft to Lessor, may be corrected by Lessor or its designee after return of the Aircraft and Lessee shall reimburse Lessor for all reasonable direct costs and expenses paid by Lessor or its designee for accomplishing such discrepancy corrections. Lessee shall pay Lessor or its designee for all such costs and expenses incurred within 10 days of the date of receipt of an invoice therefor.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
DEFERRED DISCREPANCY CORRECTION. Any Discrepancies identified during the inspection, operational ground checks and operational check flight(s) referred to in Sections 8.11, 8.12 and 8.13 which were not corrected by Lessee prior to the acceptance of the Aircraft by Lessor pursuant to Section 8.14 shall be corrected by Lessee at Lessee's cost and expense or, at Lessor's option, may be corrected by Lessor or its designee after return of the Aircraft and Lessee shall reimburse Lessor for all reasonable costs and expenses incurred by Lessor or its designee for accomplishing such Discrepancy corrections. Lessee shall, not later than 30 days after the date of Lessor's invoice, pay Lessor for all such costs and expenses.
Sample 1Sample 2
DEFERRED DISCREPANCY CORRECTION. 29 10.10 Flight Cost .................................................. 29 10.11 Indemnification .............................................. 29 10.12 Insurance .................................................... 29 10.13
Sample 1
DEFERRED DISCREPANCY CORRECTION. Lessor may, at its sole option, accept delivery of the Aircraft and any discrepancies found during the ground inspection, operational ground check and operational test flight set forth in this Section 4 that were not corrected by Lessee prior to return of the Aircraft to Lessor may be corrected by Lessor or its designee after return of the Aircraft, at Lessee's cost and expense, provided that this Section 4.11 shall not be construed as permitting or authorizing Lessee to fail to meet, or consenting to or waiving any failure by Lessee to perform, Lessee's obligation to return the Aircraft in accordance with the requirements of the Lease Agreement. Lessor shall consult with Lessee regarding the identity of its designee for accomplishing such discrepancy corrections. Lessee shall reimburse Lessor for the expenses incurred by Lessor in accomplishing such discrepancy corrections within 30 days of the date of Lessor's invoice therefor. Annex 1 to Schedule 1 to Lease Agreement (MSN 28662) ANNEX 1 TO SCHEDULE 1 RETURN CONDITIONS Capitalized terms used but not defined herein (or in any annex hereto) shall have the respective meanings, and shall be interpreted and construed in the manner, set forth in the Lease Agreement (MSN 28662), dated as of December 12, 1996 (the "Lease Agreement"), between Boullioun Aircraft Holding Company, Inc. and Frontier Airlines, Inc., to which this document is an annex to a schedule.
Sample 1
DEFERRED DISCREPANCY CORRECTION. Lessor may, at its sole option, accept delivery of the Aircraft and any discrepancies found during the ground inspection, operational ground check and operational test flight set forth in this Section 3 that were not corrected by Lessee prior to return of the Aircraft to Lessor may be corrected by Lessor or its designee after return of the Aircraft, at Lessee's cost and expense, provided that this Section 3.11 shall not be construed as permitting or authorizing Lessee to fail to meet, or consenting to or waiving any failure by Lessee to perform, Lessee's obligation to return the Aircraft in accordance with the requirements of the Lease Agreement. Lessee shall reimburse Lessor on demand for the expenses incurred by Lessor in accomplishing such discrepancy corrections. Annex 1 to Schedule 2 to Lease Agreement (MSN 28869) ANNEX 1 TO SCHEDULE 2 RETURN CONDITIONS Capitalized terms used but not defined herein (or in any attachment hereto) shall have the respective meanings, and shall be interpreted and construed in the manner, set forth in the Lease Agreement (MSN 28869), dated as of June 27, 1997 (the "Lease Agreement"), between Boullioun Portfolio Finance I, Inc. and Western Pacific Airlines, Inc., to which this document is an annex to a schedule.
Sample 1
DEFERRED DISCREPANCY CORRECTION. Any discrepancies found during the ground inspection, operational ground check, demonstration flight and ferry flight provided for in Sections 10(f), 10(g), 10(h) and 10(i), respectively, that were not corrected by Sublessee prior to return of the Aircraft to Sublessor may be corrected by Sublessor or its designee after return of the aircraft and Sublessee shall reimburse Sublessor for the expenses incurred by Sublessor or its designee for accomplishing such discrepancy corrections. Sublessee shall pay Sublessor for such expenses incurred within thirty (30) days of the date of Sublessor's invoice therefor.
Sample 1
DEFERRED DISCREPANCY CORRECTION. 29 10.10 FLIGHT COST ................................................ 30 10.11 INDEMNIFICATION ............................................ 30 10.12 INSURANCE .................................................. 30 10.13
Sample 1
AutoNDA by SimpleDocs

Related to DEFERRED DISCREPANCY CORRECTION

  • Code Section 754 Adjustments To the extent an adjustment to the adjusted tax basis of any Partnership asset pursuant to Section 734(b) or 743(b) of the Code is required, pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(m), to be taken into account in determining Capital Accounts, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis), and such item of gain or loss shall be specially allocated to the Partners in a manner consistent with the manner in which their Capital Accounts are required to be adjusted pursuant to such Section of the Treasury Regulations.

  • Code Section 754 Adjustment To the extent an adjustment to the adjusted tax basis of any Company asset pursuant to Section 734(b) or 743(b) of the Code is required, pursuant to the Allocation Regulations, to be taken into account in determining Capital Accounts, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis), and such item of gain or loss shall be specially allocated to the Members in a manner consistent with the manner in which their Capital Accounts are required to be adjusted pursuant to the Allocation Regulations.

  • Interconnection Customer Compensation for Actions During Emergency Condition The CAISO shall compensate the Interconnection Customer in accordance with the CAISO Tariff for its provision of real and reactive power and other Emergency Condition services that the Interconnection Customer provides to support the CAISO Controlled Grid during an Emergency Condition in accordance with Article 11.6.

  • Follow-up Testing An employee shall submit to unscheduled follow-up drug and/or alcohol testing if, within the previous 24-month period, the employee voluntarily disclosed drug or alcohol problems, entered into or completed a rehabilitation program for drug or alcohol abuse, failed or refused a preappointment drug test, or was disciplined for violating the provisions of this Agreement and Employer work rules. The Employer may require an employee who is subject to follow-up testing to submit to no more than six unscheduled drug or alcohol tests within any 12 month period.

  • WAIVER IN CASE OF EMERGENCY In cases of emergency declared by the President of the United States, the Governor of the state of Ohio, the Xxxxxxxxxx County Sheriff, the City Manager of Xxxxx Heights, or any other authorized governmental official, for acts of God or civil disorder, the following conditions of this Agreement may be temporarily suspended by the Employer A. Time limits for the processing of grievances; and B. Selected work rules and/or agreements and practices relating to the assignment of employees.

  • Section 754 Adjustments To the extent an adjustment to the adjusted tax basis of any Company asset, pursuant to Code Section 734(b) or Code Section 743(b) is required, pursuant to Regulations Section 1.704-1(b)(2)(iv)(m)(2) or 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as the result of a distribution to a Unit Holder in complete liquidation of such Unit Holder’s interest in the Company, the amount of such adjustment to Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Unit Holders in accordance with their interests in the Company in the event Regulations Section 1.704-1(b)(2)(iv)(m)(2) applies, or to the Unit Holder to whom such distribution was made in the event Regulations Section 1.704-1(b)(2)(iv)(m)(4) applies.

  • Unforeseeable Emergency In the event of a Participant’s Unforeseeable Emergency, such Participant may request an emergency withdrawal from his or her Account. Any such request shall be subject to the approval of the Administrator, which approval shall not be granted to the extent that such need may be relieved (i) through reimbursement or compensation by insurance or otherwise or (ii) by liquidation of the Participant’s assets (to the extent the liquidation of such assets would not itself cause severe financial hardship). A Participant may withdraw all or a portion of his or her Account due to an Unforeseeable Emergency; provided, however, that the withdrawal shall not exceed the amount reasonably needed to satisfy the need created by the Unforeseeable Emergency.

  • How Do I Correct an Excess Contribution? If you make a contribution in excess of your allowable maximum, you may correct the excess contribution and avoid the 6% penalty tax under Section 4973 of the Internal Revenue Code for that year by withdrawing the excess contribution and its earnings on or before the due date, including extensions, of the tax return for the tax year for which the contribution was made (generally October 15th). Any earnings on the withdrawn excess contribution may be subject to a 10% early distribution penalty tax if you are under age 59½. In addition, in certain cases an excess contribution may be withdrawn after the time for filing your tax return. Finally, excess contributions for one year may be carried forward and applied against the contribution limitation in succeeding years.

  • Section 754 Adjustment To the extent an adjustment to the adjusted tax basis of any Partnership asset pursuant to Code Section 734(b) or Code Section 743(b) is required, pursuant to Regulations Section 1.704-1(b)(2)(iv)(m)(2) or Regulations Section 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as the result of a distribution to a Holder in complete liquidation of his interest in the Partnership, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Holders in accordance with their interests in the Partnership in the event that Regulations Section 1.704-1(b)(2)(iv)(m)(2) applies, or to the Holders to whom such distribution was made in the event that Regulations Section 1.704-1(b)(2)(iv)(m)(4) applies.

  • Hardship Distribution Upon the Board of Director's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!