GEAR TIME REMAINING Sample Clauses

GEAR TIME REMAINING. The installed nose and main landing gears and components of the Aircraft and their associated actuators, side braces and parts (the "Landing Gear") shall have at least 25% remaining time until the next scheduled Landing Gear overhaul under the Maintenance Program as measured by hour, cycle or calendar day, whichever is applicable and most limiting. Notwithstanding the immediately preceding sentence, the Aircraft may be returned with more or less time remaining to the next scheduled Landing Gear overhaul. If the Aircraft is returned with less time remaining than 25%, Lessee shall pay to Lessor, and if the Aircraft is returned with more time remaining than 25%, Lessor shall pay to Lessee, for each hour, cycle or calendar day below or above 25%, as applicable, a U.S. dollar amount computed by dividing (I) Lessee's U.S. dollar cost of completing a Landing Gear overhaul in accordance with the Maintenance Program (at Lessee's internal rates with no mark-up) at the time of return of the Aircraft by (II) the total number of hours, cycles or calendar days, as applicable, in the applicable Landing Gear overhaul interval.
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