Engine Restoration Reserves Sample Clauses
Engine Restoration Reserves. (i) Pursuant to Section 13.1 of the Lease, Lessee shall pay to Lessor the amount determined under clause (ii) below multiplied by the number of Flight Hours of operation of each Engine during each Rent Period (the then current balance of all such payments received from Lessee and held by Lessor, net of disbursements made pursuant to this Appendix 2D, is hereinafter referred to as, with respect to each Engine, an “Engine Restoration Reserve” and collectively, the “Engine Restoration Reserves”). A separate Engine Restoration Reserve shall be established and maintained separately for each Engine and the same shall not be cumulated or netted.
(ii) The amount used to calculate Lessee’s payment due under clause (i) above shall be determined on a monthly basis, and:
(a) for all Flight Hours an Engine is operated prior to the removal of such Engine for the first Engine Restoration of such Engine, shall be the amount set forth in the table below that most closely corresponds to Lessee’s actual Flight Hour to Cycle utilisation ratio for each Engine during the Rent Period for which such payment is due:
Engine Restoration Reserves. (i) Pursuant to Section 13.1 of the Lease, Lessee shall pay to Lessor the amount determined under clause (ii) below multiplied by the number of Flight Hours of operation of each Engine during each Calendar Month (the then current balance of all such payments received from Lessee and held by Lessor, net of disbursements made pursuant to this ▇▇▇▇▇▇▇▇ ▇▇, is hereinafter referred to as, with respect to each Engine, an “Engine Restoration Reserve” and collectively, the “Engine Restoration Reserves”). A separate Engine Restoration Reserve shall be established and maintained separately for each Engine and the same shall not be cumulated or netted.
(ii) The amount used to calculate Lessee’s payment due under clause (i) above shall be determined on a monthly basis and shall be the amount set forth in the table below that most closely corresponds to Lessee’s actual Flight Hour to Cycle utilisation ratio for each Engine during the Calendar Month for which such payment is due: ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** *****
(iii) Subject to the conditions and exclusions contained in this Appendix 2C, Lessor will reimburse Lessee (or, at Lessee’s written instruction, pay on behalf of Lessee) from the applicable Engine Restoration Reserve an amount equal to Lessee’s Actual Cost incurred in connection with the accomplishment by Lessee of an Engine Restoration on an Engine during the Lease Term for which such Engine Restoration Reserve is established (all such qualifying expenses are hereinafter referred to as “Engine Restoration Reimbursable Expenses”), provided that at the time of completion of such Engine Restoration, as a minimum: ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission.
(a) the Engine was restored to a condition having an expected minimum of sixteen thousand five hundred (16,500) Flight Hours without any requirement for a shop visit prior to the expiration of such time; and
(b) each Life Limited Part installed in the Engine had no less than eight thousand five hundred (8,500) Cycles (and equi...
Engine Restoration Reserves. Pursuant to Section 13.1 of the Lease, Lessee shall pay to Lessor the amount determined under clause (ii) below multiplied by the number of Flight Hours of operation of each Engine during each Calendar Month (the then current balance of all such payments received from Lessee and held by Lessor, net of disbursements made pursuant to this ▇▇▇▇▇▇▇▇ ▇▇, is hereinafter referred to as, with respect to each Engine, an “Engine Restoration Reserve” and collectively, the “Engine Restoration Reserves”). A separate Engine Restoration Reserve shall be established and maintained separately for each Engine and the same shall not be cumulated or netted.
Engine Restoration Reserves. (i) Pursuant to Section 13.1 of the Lease, Lessee shall pay to Lessor the amount determined under clause (ii) below multiplied by the number of Flight Hours of operation of each Engine during each Calendar Month (the then current balance of all such payments received from Lessee and held by Lessor, net of disbursements made pursuant to this ▇▇▇▇▇▇▇▇ ▇▇, is hereinafter referred to as, with respect to each Engine, an “Engine Restoration Reserve” and collectively, the “Engine Restoration Reserves”). A separate Engine Restoration Reserve shall be established and maintained separately for each Engine and the same shall not be cumulated or netted.
(ii) The amount used to calculate Lessee’s payment due under clause (i) above shall be determined on a monthly basis and shall be the amount set forth in the table below that most closely corresponds to Lessee’s actual Flight Hour to Cycle utilisation ratio for each Engine during the Calendar Month for which such payment is due: