Deferred Predelivery Payments Sample Clauses

Deferred Predelivery Payments. Notwithstanding paragraph 1.5.1 above, the parties hereto agree that, the Buyer shall have the option to defer Predelivery Payments with respect to ten (10) Incremental Aircraft until the delivery of each relevant Incremental Aircraft (the “Incremental Aircraft PDP Deferral” and the “Incremental Aircraft PDP Deferral Right” respectively). The Incremental Aircraft PDP Deferral shall be in an amount equal to [***] percent ([***]) of the relevant Incremental Aircraft Predelivery Reference Price (the “Deferred Amount”). Upon exercise of the Incremental Aircraft PDP Deferral Right, the Seller shall defer the payment of the Deferred Amount in respect of such Incremental Aircraft starting on the date the second (2nd) Predelivery Payment becomes due by the Buyer (which, for the sake of clarity, is the first day of the [***] ([***]) month prior to Scheduled Delivery Month for such the Incremental Aircraft), until the Delivery Date of the corresponding Incremental Aircraft or termination of the Agreement with respect to the concerned Incremental Aircraft (the “Deferral Period”). The Buyer shall, during the Deferral Period, pay interest semi annually in arrears on the outstanding amount of such Deferred Amount at a rate of LIBOR for [***] ([***]) months deposits in US Dollars (as published in the Reuters screen or its successor screen at the beginning of each [***] period) plus [***] ([***]) basis points per annum. Interest will be calculated on the basis of the actual number of days elapsed and a 360 day year and will be settled and paid on January 15th and July 15th (or if any such date does not fall on a Working Day, the next following Working Day) of each relevant year. [***] The Incremental Aircraft PDP Deferral Right, shall be exercised by written notice by the Buyer, no later than [***] ([***]) days prior to the date on which the second (2nd) Predelivery Payment is due with respect to the earliest Incremental Aircraft Scheduled Delivery Month. [***]
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Related to Deferred Predelivery Payments

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