Escalation Formula Enhancement: Resolution of V10417 Sample Clauses

Escalation Formula Enhancement: Resolution of V10417. 6.1 IAE agrees to enhance the FHA Escalation Formula attached to Exhibit B to the FHA by changing the Material and Labor ratios from ***** and ***** to ***** and *****. Therefore, Exhibit B to the FHA is hereby deleted in its entirety and replaced with the following new Exhibit B appearing on Schedule 1 attached hereto. 6.2 IAE agrees to pay for the repair of the leased engine bearing manufacturer’s serial number V10417 for damage that occurred while being leased by Spirit pursuant to IAE’s standard terms of business lease. IAE’s agreement to pay for such costs is a one time concession made as a part of a larger negotiation involving the FHA and shall not be construed as obligating IAE to pay for such damage on other leased Engines. Except as expressly amended by this Side Letter No. 1, all provisions of the FHA remain in full force and effect. Very truly yours, Agreed to and Accepted on behalf of: IAE INTERNATIONAL AERO ENGINES AG SPIRIT AIRLINES NC. By: /s/ Xxxxx X. Xxxxx By: /s/ Xxxx X. Xxxxxxxx Title: General Mgr & Director Customer Business Title: EVP & CFO ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. IAE FHA ESCALATION FORMULA
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