Common use of Failure to Reinstall Engines and Items of Equipment on the Aircraft Clause in Contracts

Failure to Reinstall Engines and Items of Equipment on the Aircraft. If (a) an Event of Default has occurred and is continuing which is the result of Lessee’s failure to make any payments when due or failure to maintain the airworthiness of the Items of Equipment, and (b) Lessee fails to comply with the requirements set forth in Sections 12.12 and 12.13, then in such instance and in recognition of the higher credit risk to which an aircraft lessor is exposed when an Engine, APU, or Part has been removed from an aircraft at a time when a Default or an Event of Default has occurred and is continuing, Lessee shall pay to Lessor an additional rental charge, incurred as Supplemental Rent and not as a penalty, in the amount of (X) ***** for each Engine, (Y) ***** for the APU, and (Z) ***** of the replacement cost for any Part, for each day each such Engine, APU or Part, as the case may be, remains in noncompliance with Sections 12.12 or 12.13, as the case may be. ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 32 ARTICLE 12 MAINTENANCE MODIFICATION AND OPERATION OF THE AIRCRAFT

Appears in 1 contract

Samples: Aircraft Lease Agreement (Controladora Vuela Compania De Aviacion, S.A.B. De C.V.)

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Failure to Reinstall Engines and Items of Equipment on the Aircraft. If (a) an Event of Default has occurred and is continuing which is the result of Lessee’s failure to make any payments when due or failure to maintain the airworthiness of the Items of Equipment, and (b) Lessee fails to comply with the requirements set forth in Sections 12.12 and 12.13, then in such instance and in recognition of the higher credit risk to which an aircraft lessor is exposed when an Engine, APU, or Part has been removed from an aircraft at a time when a Default or an Event of Default has occurred and is continuing, Lessee shall pay to Lessor an additional rental renal charge, incurred as Supplemental Rent and not as a penalty, in the amount of (X) ***** for each Engine, (Y) ***** for the APU, and (Z) ***** of the replacement cost for any Part, for each day each such Engine, APU or Part, as the case may be, remains in noncompliance with Sections 12.12 or 12.13, as the case may be. ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 32 ARTICLE 12 MAINTENANCE MODIFICATION AND OPERATION OF THE AIRCRAFT.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Controladora Vuela Compania De Aviacion, S.A.B. De C.V.)

Failure to Reinstall Engines and Items of Equipment on the Aircraft. If (a) an Event of Default has occurred and is continuing which is the result of Lessee’s failure to make any payments when due or failure to maintain the airworthiness of the Items of Equipment, and (b) Lessee fails to comply with the requirements set forth in Sections 12.12 and 12.13, then in such instance and in recognition of the higher credit risk to which an aircraft lessor is exposed when an Engine, APU, or Part has been removed from an aircraft at a time when a Default or an Event of Default has occurred and is continuing, Lessee shall pay to Lessor an additional rental charge, incurred as Supplemental Rent and not as a penalty, in the amount of (X) ***** for each Engine, (Y) ***** for the APU, and (Z) ***** of the replacement cost for any Part, for each day each such Engine, APU or Part, as the case may be, remains in noncompliance with Sections 12.12 or 12.13, as the case may be. ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 32 ARTICLE 12 MAINTENANCE MAINTENANCE, MODIFICATION AND OPERATION OF THE AIRCRAFT

Appears in 1 contract

Samples: Aircraft Lease Agreement (Controladora Vuela Compania De Aviacion, S.A.B. De C.V.)

Failure to Reinstall Engines and Items of Equipment on the Aircraft. If (a) an Event of Default has occurred and is continuing which is the result of Lessee’s failure to make any payments when due or failure to maintain the airworthiness of the Items of Equipment, and (b) Lessee fails to comply with the requirements set forth in Sections 12.12 and 12.13, then in such instance and in recognition of the higher credit risk to which an aircraft lessor is exposed when an Engine, APU, or Part has been removed from an aircraft at a time when a Default or an Event of Default has occurred and is continuing, Lessee shall pay to Lessor an additional rental charge, incurred as Supplemental Rent and not as a penalty, in the amount of (X) ***** for each Engine, (Y) ***** for the APU, and (Z) ***** of the replacement cost for any Part, for each day each such Engine, APU or Part, as the case may be, remains in noncompliance with Sections 12.12 or 12.13, as the case may be. ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 32 ARTICLE 12 MAINTENANCE MODIFICATION AND OPERATION OF THE AIRCRAFT.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Controladora Vuela Compania De Aviacion, S.A.B. De C.V.)

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Failure to Reinstall Engines and Items of Equipment on the Aircraft. If (a) an Event of Default has occurred and is continuing which is the result of Lessee’s failure to make any payments when due or failure to maintain the airworthiness of the Items of Equipment, and (b) Lessee fails to comply with the requirements set forth in Sections 12.12 and 12.13, then in such instance and in recognition of the higher credit risk to which an aircraft lessor is exposed when an Engine, APU, or Part has been removed from an aircraft at a time when a Default or an Event of Default has occurred and is continuing, Lessee shall pay to Lessor an additional rental charge, incurred as Supplemental Rent and not as a penalty, in the amount of (X) ***** for each Engine, (Y) ***** for the APU, and (Z) ***** of the replacement cost for any Part, for each day each such Engine, APU or Part, as the case may be, remains in noncompliance with Sections 12.12 or 12.13, as the case may be. ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 32 ARTICLE 12 MAINTENANCE MODIFICATION AND OPERATION OF THE AIRCRAFT.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Controladora Vuela Compania De Aviacion, S.A.B. De C.V.)

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