Interim Rent and Basic Rent. (a) Lessee shall pay to Lessor, in respect of the Facility Assets, rent for the Interim Term on July 31, 1991, in an amount equal to all accrued and unpaid interest on the Loan Certificates payable on such date not paid by Owner Participant as required by Section 6.01(b) of the Participation Agreement.
Interim Rent and Basic Rent. (a) Lessee and Lessor hereby agree that no Rent (other than Supplemental Rent, if any) shall be payable to Lessor during the Interim Term. Lessee hereby agrees to pay Lessor Basic Rent for each Unit throughout the Basic Term applicable thereto on the first Rent Payment Date and in consecutive semi-annual installments thereafter payable on each Rent Payment Date. Each such payment of Basic Rent shall be in an amount equal to the product of the Equipment Cost for such Unit multiplied by the Basic Rent percentage for such Unit set forth opposite such Rent Payment Date on Schedule 2 to the Lease Supplement for such Unit (as such Schedule 2 shall be adjusted pursuant to Section 2.6 of the Participation Agreement). Basic Rent for any Unit shall be payable on the Rent Payment Dates as set forth in Schedule 2 to the Lease Supplement for such Unit. Basic Rent shall be allocated and accrued for use of the Units as specified in Schedule 5 to the Lease Supplement for such Units (“Allocated Rent“). For the avoidance of doubt, and notwithstanding anything to the contrary herein, the parties agree that irrespective of Lessee’s payment obligation on each Rent Payment Date, Lessee’s liability on account of the use of each Unit shall be allocated to each Lease Period in the amount of Allocated Rent set forth in Schedule 5 to the Lease Supplement for such Unit. Basic Rent allocated to any Lease Period shall be further allocated ratably to each day within such Lease Period. Basic Rent shall be allocated to each calendar year in the Lease Term based upon the assumption that each calendar year in the Lease Term is 360 days, consisting of four 90-day quarters and twelve 30-day months. It is the intention of Lessor and Lessee that the allocations of Basic Rent to each Lease Period in the amount set forth in Schedule 5 to the applicable Lease Supplement constitute specific allocations of fixed rent within the meaning of Treasury Regulation Section 1.467-1(c)(2)(ii).
Interim Rent and Basic Rent. (i) Lessee shall pay Interim Rent in Dollars on the Commencement Date in the amount for such date determined in accordance with the definition of "Interim Rent."
Interim Rent and Basic Rent. No Rent (other than Supplemental Rent, if any) shall be payable for the Preliminary Term. The Lessee agrees to pay to the Lessor in immediately available funds on the Commencement Date, Interim Rent in the amount set forth on Schedule II hereto for such date, subject to increase or decrease as provided in Section 3.04 hereof, with such Interim Rent being allocated to the Interim Term. The Lessee agrees to pay to the Lessor in immediately available funds, on each Rent Payment Date, Basic Rent for the Aircraft during the Basic Term, each payment being set forth on Schedule II hereto opposite the applicable Rent Payment Date, subject to increase or decrease as provided in Sections 3.04 of this Lease. Each payment of Interim Rent and Basic Rent shall be made in arrears or in advance, all as stated in Schedule II hereto. Each payment of Basic Rent designated as advance rent shall be allocated over the six-month period beginning on the Rent Payment Date on which such advance rent payment is scheduled to be made, and each installment of Basic Rent that is designated as payable in arrears shall be accrued over the six-month period ending on and including the day immediately preceding the Rent Payment Date on which such arrears payment is scheduled to be made and each installment of Interim Rent that is designated as payable in arrears shall be accrued over the Interim Term.
