Lease Extension Option. Throughout the Lease Term and providing there have been no events of default during the Lease Term among the Related Aircraft, Lessee shall have the option, but not the obligation, to extend the Lease Term of any Aircraft individually by providing at least one hundred and eighty (180) days’ prior written notice to Lessor. Any such extension shall consist of a minimum of an additional twelve (12) months (an “Extension Term”). The terms and conditions of the Lease Agreements shall remain the same throughout the duration of the Extension Term.
Appears in 4 contracts
Samples: Master Agreement (Surf Air Mobility Inc.), Master Agreement (Surf Air Mobility Inc.), Master Agreement (Surf Air Mobility Inc.)
