Common use of LESSEE'S CONTINUING OBLIGATIONS Clause in Contracts

LESSEE'S CONTINUING OBLIGATIONS. In the event that LESSEE does not return the Aircraft to LESSOR on the Expiration Date and in the condition required by this Article 23 for any reason (whether or not the reason is within LESSEE's control): 23.11.1 the obligations of LESSEE under this Lease will continue in full force and effect on a day-to-day basis until such return. This will not be considered a waiver of LESSEE's Event of Default or any right of LESSOR hereunder. 23.11.2 Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease. 23.11.3 LESSEE will fully indemnify LESSOR on demand for all losses (including consequential damages), liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable control, then until such time as the Aircraft is redelivered to LESSOR and put into the condition required by this Article 23, instead of paying the Rent specified in Article 5.3, LESSEE will pay twice the amount of Rent for each day from the scheduled Expiration Date until the Termination Date (the monthly Rent payable under Article 5. 3.1 will be prorated based on the actual number of days in the applicable month). Payment will be made upon presentation of LESSOR's invoice. 23.11.4 LESSOR may elect, in its sole and absolute discretion, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 and thereafter have any such non-conformance corrected at such time as LESSOR may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at commercial rates then-charged by the Person selected by LESSOR to perform such correction. Any direct expenses incurred by LESSOR for such correction will become additional Rent payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEE, identifying the items corrected and setting forth the expense of such corrections. LESSEE's obligation to pay such supplemental Rent will survive the Termination Date.

Appears in 28 contracts

Samples: Aircraft Lease Agreement (Amtran Inc), Aircraft Lease Agreement (Amtran Inc), Aircraft Lease Agreement (Amtran Inc)

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LESSEE'S CONTINUING OBLIGATIONS. In the event that LESSEE Lessee does not return the Aircraft to LESSOR Lessor on the Expiration Date and in the condition required by this Article 23 21 for any reason (whether other than as a result of an act or not omission of Lessor, Lessor’s Lender or the reason is within LESSEE's control):performance of additional work requested by Lessor: 23.11.1 the 21.14.1 The obligations of LESSEE Lessee under this Lease will continue in full force and effect on a day-to-day basis until such return. This will not be considered a waiver of LESSEE's Lessee’s Event of Default or any right of LESSOR Lessor hereunder. 23.11.2 21.14.2 Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR Lessor pursuant to this Lease. 23.11.3 LESSEE 21.14.3 Lessee will fully indemnify LESSOR Lessor on demand for all losses (damages and prejudices including consequential damages)losses, liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR Lessor as a result of such failure and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable control, then until such time as the Aircraft is redelivered to LESSOR Lessor and put into the condition required by this Article 2321, instead of paying the Rent specified in Article 5.34.2, LESSEE Lessee, will pay twice (i) during the first fifteen (15) days, an amount equal to ***** of the amount of Rent specified in Article 4.2 and (ii) thereafter until the Termination Date, an amount equal to ***** of the amount of Rent specified in Article 4.2, in each case calculated daily for each day from the scheduled Expiration Date until the Termination Date (the monthly Rent payable under Article 5. 3.1 will be and prorated based on the actual number basis of days in the applicable montha thirty (30) day month (without prejudice to Lessor’s other rights and remedies hereunder). Payment will be made upon presentation of LESSOR's Lessor’s invoice. 23.11.4 LESSOR 21.14.4 Lessor may elect, in its sole and absolute discretion, elect to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 21 and thereafter have any such non-conformance corrected at such time as LESSOR Lessor may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at commercial rates then-then charged by the Person selected by LESSOR Lessor to perform such correction. Any direct All actual costs and expenses incurred by LESSOR Lessor for such correction will become additional Rent be payable by LESSEE Lessee within fifteen five (155) days Business Days following the submission of a written statement by LESSOR Lessor to LESSEELessee, identifying the items corrected and setting forth such costs and the expense expenses of such corrections. LESSEE's Lessee’s obligation to pay such supplemental Rent amounts will survive the Termination Date.

Appears in 2 contracts

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

LESSEE'S CONTINUING OBLIGATIONS. In the event that LESSEE does not return the Aircraft to LESSOR on the Expiration Date and in the condition required by this Article 23 for any reason (whether or not the reason is within LESSEE's ’s control):), but subject to Article 23.13: 23.11.1 23.14.1 the obligations of LESSEE under this Lease will continue in full force and effect on a day-to-day basis until such return. This will not be considered a waiver of LESSEE's ’s Event of Default or any right of LESSOR hereunder. 23.11.2 23.14.2 Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease. 23.11.3 LESSEE will fully indemnify LESSOR on demand 23.14.3 Without limiting LESSOR’s rights and remedies under Article 25 and except for all losses (including consequential damages), liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable controlfor the reason set forth in Article 23.13, then until such time as the Aircraft is redelivered to LESSOR and put into the condition required by this Article 23, instead of paying the Rent specified in Article 5.3, LESSEE will pay twice the amount of Rent in effect on the Expiration Date for each day from the scheduled Expiration Date until the Termination Date (Date. In determining the applicable normal Rent per day that will be doubled for purposes of this calculation, the monthly Rent payable under Article 5. 3.1 will be prorated based on the actual number of days in the applicable month). Payment will be made upon presentation of LESSOR's ’s invoice. 23.11.4 23.14.4 LESSOR may elect, in its sole and absolute discretion, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 and thereafter have any such non-conformance corrected at such time as LESSOR may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at commercial rates then-charged by the Person selected by LESSOR to perform such correction. Any direct expenses incurred by LESSOR for such correction will become additional Rent be payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEE, identifying the items corrected and setting forth the expense of such corrections. LESSEE's ’s obligation to pay such supplemental Rent amounts will survive the Termination Date.

Appears in 2 contracts

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

LESSEE'S CONTINUING OBLIGATIONS. In (a) If Lessee shall, for any reason whatsoever, fail to return the Aircraft in a timely manner in the condition specified in this Lease, the Obligations of Lessee shall continue and the Lease Term shall be deemed to be extended, day-to-day, until Return of the Aircraft; provided that this paragraph shall not be construed as permitting Lessee to fail to meet its Obligation to return the Aircraft in accordance with the requirements of this Lease and shall not constitute a waiver by Lessor of any Default or Event of Default arising out of such failure or prejudice the rights of Lessor under Article 24 with respect thereto. (b) If the Aircraft is not returned to Lessor in accordance with this Lease on the Scheduled Termination Date: (i) with effect from and including the Scheduled Termination Date, Fixed Rent shall continue to be payable at the daily rate of one-thirtieth (1/30) of the Fixed Rent otherwise payable hereunder; and with effect from and including the fifteenth (15th) day following the Scheduled Termination Date, Fixed Rent shall be payable at the daily rate of one-twentieth (1/20) of the Fixed Rent otherwise payable hereunder; and with effect from and including the thirtieth (30th) day following the Scheduled Termination Date, Fixed Rent shall thereafter be payable at the daily rate of one-fifteenth (1/15) of the Fixed Rent otherwise payable hereunder; and (ii) payments in respect of Maintenance Reserves shall continue to be payable and, with respect to Maintenance Reserves paid on a monthly basis, prorated on a daily basis based on a month consisting of thirty (30) days; each of which amounts shall be paid by Lessee at the earlier to occur of each next Fixed Rent Payment Date and Return. Notwithstanding the foregoing, in the event that LESSEE does not Lessee is unable to return the Aircraft to LESSOR Lessor in accordance with this Lease on the Expiration Scheduled Termination Date and in the condition required by this Article 23 for primarily as a result of any reason (whether act or not the reason is within LESSEE's control): 23.11.1 the obligations omission of LESSEE under this Lease will continue in full force and effect on a day-to-day basis until such return. This will not be considered a waiver of LESSEE's Event of Default Lessor or any right of LESSOR hereunderPerson lawfully claiming by or through Lessor, Lessee’s continuing Fixed Rent payment obligations as set forth in sub-section (i) shall not apply. 23.11.2 Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease. 23.11.3 LESSEE will fully indemnify LESSOR on demand for all losses (including consequential damages), liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable control, then until such time as the Aircraft is redelivered to LESSOR and put into the condition required by this Article 23, instead of paying the Rent specified in Article 5.3, LESSEE will pay twice the amount of Rent for each day from the scheduled Expiration Date until the Termination Date (the monthly Rent payable under Article 5. 3.1 will be prorated based on the actual number of days in the applicable month). Payment will be made upon presentation of LESSOR's invoice. 23.11.4 LESSOR may elect, in its sole and absolute discretion, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 and thereafter have any such non-conformance corrected at such time as LESSOR may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at commercial rates then-charged by the Person selected by LESSOR to perform such correction. Any direct expenses incurred by LESSOR for such correction will become additional Rent payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEE, identifying the items corrected and setting forth the expense of such corrections. LESSEE's obligation to pay such supplemental Rent will survive the Termination Date.

Appears in 2 contracts

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

LESSEE'S CONTINUING OBLIGATIONS. In the event that LESSEE Lessee does not return the Aircraft to LESSOR Lessor on the Expiration Date and last day of the Term in the condition required by this Article 23 for Sections 18.01 through 18.04, whether as a result of any reason (termination under Section 17.02 or otherwise, and whether or not the reason for such failure to return is within LESSEE's control):the control of Lessee: 23.11.1 (a) the obligations of LESSEE Lessee under this Lease will (other than the payment of Basic Rent, which shall be governed by Section 18.11(b )) shall continue in full force and effect on a day-to-day basis until such return. This will not , and the Lessee shall be considered obligated to continue to perform its obligations under this Lease, including, without limitation, the obligation to maintain insurance coverages, and the Term shall be deemed to be extended on a day-to-day basis, PROVIDED that nothing in this paragraph (a ) shall be deemed to constitute a waiver of LESSEE's any right that Lessor may have consequent upon any Event of Default or any right of LESSOR hereunder.by Lessee; and 23.11.2 Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease. 23.11.3 LESSEE will fully indemnify LESSOR on demand for all losses (including consequential damages), liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable control, then b) until such time as the Aircraft is redelivered in accordance with the Return Conditions or the Lessor accepts return of the Aircraft and delivers a Return Certificate pursuant to LESSOR Section 18.05, instead of paying the Basic Rent specified in the definition thereof, the Lessee shall pay one hundred percent (100%) of such Basic Rent (calculated on a daily basis) for the period from the date that the Aircraft was required to be returned to the date on which it is actually returned and put into the 52 condition required by this Article 23XVIII and EXHIBIT D-1 or EXHIBIT D-2, instead of paying as applicable, or the Rent specified in Article 5.3, LESSEE will pay twice the amount of Rent for each day from the scheduled Expiration Date until the Termination Date (the monthly Rent payable under Article 5. 3.1 will be prorated based on the actual number of days in the applicable month). Payment will be made upon presentation of LESSOR's invoice. 23.11.4 LESSOR may elect, in its sole and absolute discretion, to accept the Lessor accepts return of the Aircraft prior and delivers a Return Certificate pursuant to Section 18.05, PROVIDED that, if Lessee's failure to return the Aircraft being put is solely and directly the result of Lessor's failure to complete any inspection and acceptance in a commercially reasonable manner, then Lessee shall pay no Basic Rent during such delay, and during any such period, Lessee shall not use or operate the condition Aircraft except as required by this Article 23 and thereafter have any such non-conformance corrected at such time as LESSOR may deem appropriate (but within ninety (90) days following Lease. When the Lessor accepts return of the Aircraft) Aircraft and at commercial rates then-charged by delivers a Return Certificate pursuant to Section 18.05, the Person selected by LESSOR to perform such correction. Any direct expenses incurred by LESSOR for such correction will become additional Rent payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEETerm shall end and Lessee's obligations under this Lease shall cease, identifying the items corrected and setting forth the expense of such corrections. LESSEE's obligation to pay such supplemental Rent will survive the Termination Dateexcept as provided in Section 20.13 hereof.

Appears in 2 contracts

Samples: Aircraft Lease Agreement (Republic Airways Holdings Inc), Aircraft Lease Agreement (Republic Airways Holdings Inc)

LESSEE'S CONTINUING OBLIGATIONS. In the event that LESSEE does not (a) If Lessee shall, for any reason whatsoever, fail to return the Aircraft in a timely manner in the condition specified in this Lease, the Obligations of Lessee shall continue and the Lease Term shall be deemed to LESSOR be extended, day-to-day, until Return of the Aircraft; provided that this paragraph shall not be construed as permitting Lessee to fail to meet its Obligation to return the Aircraft in accordance with the requirements of this Lease and shall not constitute a waiver by Lessor of any Default or Event of Default arising out of such failure or prejudice the rights of Lessor under Article 24 with respect thereto. (b) If the Aircraft is not returned to Lessor in accordance with this Lease on the Expiration Scheduled Termination Date: (i) for the first fifteen (15) days following the Scheduled Termination Date, Basic Rent shall be payable in an amount equal to 125% of the monthly Basic Rent for the Aircraft, prorated on a daily basis, payable weekly in arrears, for each day following the Scheduled Termination Date until Lessor has been allowed and has completed a full and thorough inspection of the Aircraft and Aircraft Documents as contemplated herein and the Aircraft and Aircraft Documents are returned to Lessor in the condition required by this Article 23 hereunder, and (ii) for any reason each day after the first fifteen (whether or not 15) days following the reason is within LESSEE's control): 23.11.1 the obligations of LESSEE under this Lease will continue in full force and effect on a day-to-day basis until such return. This will not be considered a waiver of LESSEE's Event of Default or any right of LESSOR hereunder. 23.11.2 Until such returnScheduled Termination Date, the Agreed Value will be an amount equal to twice the Agreed Value monthly Basic Rent for the Aircraft, prorated on the day a daily basis, payable weekly in arrears, until Lessor has been allowed and has completed a full and thorough inspection of the Aircraft should have been and Aircraft Documents as contemplated herein and the Aircraft and Aircraft Documents are returned to LESSOR pursuant Lessor in the condition required hereunder at the time of return to this Lease. 23.11.3 LESSEE will fully indemnify LESSOR on demand for all losses (including consequential damages)Lessor, liabilitiesprovided, actionshowever, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in Lessor shall not unreasonably refuse to accept return of the Aircraft was solely due to reasons within LESSEE's reasonable control, then until such time as minor discrepancies of the Aircraft is redelivered and/or the Aircraft Documents where such minor discrepancies are (x) listed as Aircraft Discrepancies in the Return Acceptance Certificate set forth in Attachment 3 to LESSOR Appendix 7 hereto and put into (y) do not affect the condition required airworthiness and marketability of the Aircraft; and *** Material has been omitted pursuant to a request for confidential treatment and filed separately with the SEC (ii) payments in respect of Maintenance Reserves shall continue to be payable and, with respect to Maintenance Reserves paid on a monthly basis, prorated on a daily basis based on a month consisting of thirty (30) days; each of which amounts shall be paid by this Article 23Lessee at the earlier to occur of each next Rent Payment Date, instead of paying the Rent date otherwise specified in Article 5.3, LESSEE will pay twice the amount of Rent for each day from the scheduled Expiration Date until the Termination Date (the monthly Rent payable under Article 5above and Return. 3.1 will be prorated based on the actual number of days in the applicable month). Payment will be made upon presentation of LESSOR's invoice. 23.11.4 LESSOR (c) Lessor may elect, in its sole and absolute discretiondiscretion and without prejudice to its rights under this Lease, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 22 and thereafter have any such non-conformance corrected at such time as LESSOR Lessor may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at commercial rates then-then charged by the Person selected by LESSOR Lessor to perform accomplish such correction. Any direct expenses incurred by LESSOR Lessor for such correction will become additional Supplemental Rent payable by LESSEE within fifteen (15) days Lessee on demand following the submission of a written statement by LESSOR Lessor to LESSEELessee, identifying the items corrected and setting forth the expense of such correctionscorrections in reasonable detail. LESSEE's obligation Lessee’s Obligation to pay such supplemental Supplemental Rent will survive the Termination DateDate and until such time that the Aircraft is put into the condition required for Return and Lessee’s remaining Obligations due for performance on the Termination Date have been performed in full.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Hawaiian Holdings Inc)

LESSEE'S CONTINUING OBLIGATIONS. In the event that LESSEE does not return the Aircraft to LESSOR on the Expiration Date and in the condition required by this Article 23 for any reason (whether or not the reason is within LESSEE's control, except as provided below): 23.11.1 (a) the obligations of LESSEE under this Lease will continue in full force and effect on a day-to-day basis until such return. This will not be considered a waiver of LESSEE's Event of Default or any right of LESSOR hereunder.; 23.11.2 (b) Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease. 23.11.3 LESSEE will fully indemnify LESSOR on demand for all losses (including consequential damages), liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable control, then until such time as the Aircraft is redelivered to LESSOR and put into the condition required by this Article 23, instead of paying the Rent specified in Article 5.3, LESSEE will pay twice the amount of Rent for each day from the scheduled Expiration Date until the Termination Date (the monthly Rent payable under Article 5. 3.1 will be prorated based on the actual number of days in the applicable month). Payment Notwithstanding the foregoing, if the delay is caused solely by a force majeure, LESSEE will only be required to pay the normal stated Rent during any such delay and payment will be made upon presentation of LESSOR's invoice.; and if such delay in return is the direct and sole result of LESSOR's failure to perform any redelivery inspection and acceptance in a commercially reasonable manner, LESSEE shall pay no Rent during such delay; 23.11.4 (c) LESSOR may elect, in its sole and absolute discretion, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 and thereafter have any such non-non- conformance corrected at such time as LESSOR may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at commercial rates then-then charged by the Person selected by LESSOR to perform such correction. Any direct expenses incurred by LESSOR for such correction will become additional Rent payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEE, identifying the items corrected and setting forth the expense of such corrections. LESSEE's obligation to pay such supplemental Rent will survive the Termination Date.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Western Pacific Airlines Inc /De/)

LESSEE'S CONTINUING OBLIGATIONS. In the event that LESSEE does not return the Aircraft to LESSOR on the Expiration Date and in the condition required by this Article 23 for any reason (whether or not the reason is within LESSEE's control): 23.11.1 23.13.1 the obligations of LESSEE under this Lease will continue in full force and effect on a day-to-day to day basis until such return. This will not be considered a waiver of LESSEE's Event of Default or any right of LESSOR hereunder. 23.11.2 23.13.2 Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease. 23.11.3 23.13.3 LESSEE will fully indemnify LESSOR on demand for all losses (including consequential damagesdamages in accordance with Article 25.5(b)), liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable control, then until such time as the Aircraft is redelivered to LESSOR and put into the condition required by this Article 23, instead of paying the Rent specified in Article 5.3, LESSEE will pay twice the amount of Rent for each day from the scheduled Expiration Date until the Termination Date (the monthly Rent payable under Article ARTICLE 5. 3.1 will be prorated based on the actual number of days in the applicable month). Payment will be made upon presentation of LESSOR's invoice. Notwithstanding the foregoing, in the event that the Aircraft is removed from service by LESSEE and placed in a maintenance facility for the performance of work required to put the Aircraft into the condition required by this Article 23 and as a result of delays in the performance of such work the Aircraft is not returned on the Expiration Date, for a period of up to seven (7) days following the Expiration Date, LESSEE shall only be responsible for normal Rent. After the 7th day of such period, if LESSEE has not returned the Aircraft to LESSOR in the condition required by this Lease, LESSEE shall be responsible for twice the Rent for the period after such 7 day period in accordance with the provisions of this Article 23.13.3 until the actual Termination Date. 23.11.4 23.13.4 LESSOR may elect, in its sole and absolute discretion, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 and thereafter have any such non-non conformance corrected at such time as LESSOR may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at commercial rates then-then charged by the Person selected by LESSOR to perform such correction. Any direct expenses incurred by LESSOR for such correction will become additional Rent payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEE, identifying the items corrected and setting forth the expense of such correctionscorrections in reasonable detail. LESSEE's obligation to pay such supplemental Rent will survive the Termination Date.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Frontier Airlines Inc /Co/)

LESSEE'S CONTINUING OBLIGATIONS. In the event that LESSEE does not return the Aircraft to LESSOR on the Expiration Date and in the condition required by this Article 23 for any reason (whether or not the reason is within LESSEE's ’s control):), but subject to Article 23.13: 23.11.1 23.14.1 the obligations of LESSEE under this Lease will continue in full force and effect on a day-to-day basis until such return. This will not be considered a waiver of LESSEE's ’s Event of Default or any right of LESSOR hereunder. 23.11.2 23.14.2 Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease. 23.11.3 LESSEE will fully indemnify LESSOR on demand 23.14.3 Without limiting LESSOR’s rights and remedies under Article 25 and except for all losses (including consequential damages), liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable controlfor the reason set forth in Article 23.13, then until such time as the Aircraft is redelivered to LESSOR and put into the condition required by this Article 23, instead of paying the Rent specified in Article 5.3, LESSEE will pay twice the amount of Rent in effect on the Expiration Date for each day from the scheduled Expiration Date until the Termination Date (Date. In determining the applicable normal Rent per day that will be doubled for purposes of this calculation, the monthly Rent payable under Article 5. 3.1 will be prorated based on the actual number of days in the applicable month). Payment will be made upon presentation of LESSOR's ’s invoice. 23.11.4 23.14.4 LESSOR may elect, in its sole and absolute discretion, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 and thereafter have any such non-conformance nonconformance corrected at such time as LESSOR may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at commercial rates then-charged by the Person selected by LESSOR to perform such correction. Any direct expenses incurred by LESSOR for such correction will become additional Rent be payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEE, identifying the items corrected and setting forth the expense of such corrections. LESSEE's ’s obligation to pay such supplemental Rent amounts will survive the Termination Date.

Appears in 1 contract

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

LESSEE'S CONTINUING OBLIGATIONS. In the event that LESSEE Lessee does not return the Aircraft Engine to LESSOR on the Expiration Date Lessor upon termination of this Lease (including, without limitation, any termination resulting from an Event of Default by Lessee) and in the condition required by this Article 23 herein for any reason (whether or not the reason is within LESSEE's control): 23.11.1 reason, the obligations of LESSEE Lessee under this Lease will continue shall continue; provided, however, that such failure to return the Engine to Lessor in full force such condition shall not be the result of a breach by Lessor of its covenant of quiet enjoyment which has resulted in Lessee having been deprived of use and effect on a day-to-day basis until possession of the Engine immediately prior to such returntermination, in which case the Engine shall be returned in its then condition provided that, immediately prior to such breach by Lessor of its covenant of quiet enjoyment such Engine shall have been in such condition as to meet the requirements of Section 8 hereof but for such breach. This will Such continuation of Lessee's obligations shall not be considered a renewal of the terms of this Lease or of Lessee's rights to use the Engine, an extension of the Lease Term or a waiver of LESSEE's any Default or Event of Default or any right of LESSOR Lessor hereunder. 23.11.2 . Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease. 23.11.3 LESSEE will fully indemnify LESSOR on demand for all losses (including consequential damages), liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable control, then until such time as the Aircraft Engine is redelivered to LESSOR Lessor as required herein, Lessee agrees, during the first thirty (30) days following the termination hereof, to pay Basic Rent with interest at the Post-Default Rate and put into the condition required by this Article 23, instead of paying the Rent specified in Article 5.3, LESSEE will thereafter to pay twice the amount of Basic Rent for each day from such thirtieth (30th) day after the scheduled Expiration Date termination hereof until redelivery of the Termination Date Engine in the condition required hereunder (the monthly Basic Rent payable under Article 5. 3.1 will be being prorated based on the actual number of days in the applicable month). Payment will be made upon presentation of LESSOR's invoice. 23.11.4 LESSOR may elect, in its sole and absolute discretion, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 and thereafter have any such non-conformance corrected at such time as LESSOR may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at commercial rates then-charged by the Person selected by LESSOR to perform such correction. Any direct expenses incurred by LESSOR for such correction will become additional Rent payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEE, identifying the items corrected and setting forth the expense of such corrections. LESSEE's obligation to pay such supplemental Rent will survive the Termination Date.

Appears in 1 contract

Samples: Engine Lease Agreement (Western Pacific Airlines Inc /De/)

LESSEE'S CONTINUING OBLIGATIONS. In (a) If Lessee shall, for any reason whatsoever, fail to return the Aircraft in a timely manner in the condition specified in this Lease, the Obligations of Lessee shall continue and the Lease Term shall be deemed to be extended, day-to-day, until Return of the Aircraft; provided that this paragraph shall not be construed as permitting Lessee to fail to meet its Obligation to return the Aircraft in accordance with the requirements of this Lease and shall not constitute a waiver by Lessor of any Default or Event of Default arising out of such failure or prejudice the rights of Lessor under Article 24 with respect thereto. (b) If the Aircraft is not returned to Lessor in accordance with this Lease on the Scheduled Termination Date: (i) with effect from and including the Scheduled Termination Date, Basic Rent shall continue to be payable at the daily rate of one-thirtieth (1/30) of the Basic Rent otherwise payable hereunder; and with effect from and including the fifteenth (15th) day following the Scheduled Termination Date, Basic Rent shall be payable at the daily rate of one-twentieth (1/20) of the Basic Rent otherwise payable hereunder; and with effect from and including the thirtieth (30th) day following the Scheduled Termination Date, Basic Rent shall thereafter be payable at the daily rate of one-fifteenth (1/15) of the Basic Rent otherwise payable hereunder; and (ii) payments in respect of Maintenance Reserves shall continue to be payable and, with respect to Maintenance Reserves paid on a monthly basis, prorated on a daily basis based on a month consisting of thirty (30) days; each of which amounts shall be paid by Lessee at the earlier to occur of each next Rent Payment Date and Return. Notwithstanding the foregoing, in the event that LESSEE does not Lessee is unable to return the Aircraft to LESSOR Lessor in accordance with this Lease on the Expiration Scheduled Termination Date and in the condition required by this Article 23 for primarily as a result of any reason (whether act or not the reason is within LESSEE's control): 23.11.1 the obligations omission of LESSEE under this Lease will continue in full force and effect on a day-to-day basis until such return. This will not be considered a waiver of LESSEE's Event of Default Lessor or any right of LESSOR hereunderPerson lawfully claiming by or through Lessor, Lessee’s continuing Basic Rent payment obligations as set forth in sub-Section (i) shall not apply. 23.11.2 Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease. 23.11.3 LESSEE will fully indemnify LESSOR on demand for all losses (including consequential damages), liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable control, then until such time as the Aircraft is redelivered to LESSOR and put into the condition required by this Article 23, instead of paying the Rent specified in Article 5.3, LESSEE will pay twice the amount of Rent for each day from the scheduled Expiration Date until the Termination Date (the monthly Rent payable under Article 5. 3.1 will be prorated based on the actual number of days in the applicable month). Payment will be made upon presentation of LESSOR's invoice. 23.11.4 LESSOR may elect, in its sole and absolute discretion, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 and thereafter have any such non-conformance corrected at such time as LESSOR may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at commercial rates then-charged by the Person selected by LESSOR to perform such correction. Any direct expenses incurred by LESSOR for such correction will become additional Rent payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEE, identifying the items corrected and setting forth the expense of such corrections. LESSEE's obligation to pay such supplemental Rent will survive the Termination Date.

Appears in 1 contract

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

LESSEE'S CONTINUING OBLIGATIONS. In the event that LESSEE does not return the Aircraft to LESSOR on the Expiration Date and in the condition required by this Article 23 for any reason (whether or not the reason is within LESSEE's control): 23.11.1 the obligations of LESSEE under this Lease will continue in full force and effect on a day-to-day basis until such return. This will not be considered a waiver of LESSEE's Event of Default or any right of LESSOR hereunder. 23.11.2 Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease. 23.11.3 LESSEE will fully indemnify LESSOR on demand for all losses (including consequential damagesdamages in accordance with Article 25.5(b)), liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable control, then until such time as the Aircraft is redelivered to LESSOR and put into the condition required by this Article 23, instead of paying the Rent specified in Article 5.3, LESSEE will pay twice the amount of Rent for each day from the scheduled Expiration Date until the Termination Date (the monthly Rent payable under Article 5. 3.1 will be prorated based on the actual number of days in the applicable month). Payment will be made upon presentation of LESSOR's invoice. Notwithstanding the foregoing, in the event that the Aircraft is removed from service by LESSEE and placed in a maintenance facility for the performance of work required to put the Aircraft into the condition required by this Article 23 and as a result of delays in the performance of such work the Aircraft is not returned on the Expiration Date, for a period of up to seven (7) days following the Expiration Date, LESSEE shall only be responsible for normal Rent. After the 7th day of such period, if LESSEE has not returned the Aircraft to LESSOR in the condition required by this Lease, LESSEE shall be responsible for twice the Rent for the period after such 7 day period in accordance with the provisions of this Article 23.11.3 until the actual Termination Date. 23.11.4 LESSOR may elect, in its sole and absolute discretion, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 and thereafter have any such non-conformance corrected at such time as LESSOR may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at commercial rates then-charged by the Person selected by LESSOR to perform such correction. Any direct expenses incurred by LESSOR for such correction will become additional Rent payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEE, identifying the items corrected and setting forth the expense of such correctionscorrections in reasonable detail. LESSEE's obligation to pay such supplemental Rent will survive the Termination Date.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Frontier Airlines Inc /Co/)

LESSEE'S CONTINUING OBLIGATIONS. In the event that LESSEE does not return the Aircraft to LESSOR on the Expiration Date and in the condition required by this Article 23 for any reason (whether or not the reason is within LESSEE's control):) unless such delay is as a result of work performed at the request of LESSOR pursuant to Article 23.10.1 or is otherwise over and above LESSEE's obligations pursuant to this Article 21: 23.11.1 23.13.1 the obligations of LESSEE under this Lease will continue in full force and effect on a day-to-day basis until such return. This will not be considered a waiver of LESSEE's Event of Default or any right of LESSOR hereunder. 23.11.2 Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease23.13.2 Material Redacted**. 23.11.3 23.13.3 LESSEE will fully indemnify LESSOR on demand for all losses (including consequential damages), liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable control, then until such time as the Aircraft is redelivered to LESSOR and put into the condition required by this Article 23, instead of paying the Rent specified in Article 5.3, LESSEE will pay twice the amount of Rent for each day clay from the scheduled Expiration Date until the Termination Date (the monthly Rent payable under Article 5. 3.1 5.3 1 will be prorated based on the actual number of days in the applicable month). Payment will be made upon presentation of LESSOR's invoice. 23.11.4 23.13.4 LESSOR may elect, in its sole and absolute discretion, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 and thereafter have any such non-conformance corrected at such time as LESSOR may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at commercial rates then-charged by the Person selected by LESSOR to perform such correction. Any direct expenses incurred by LESSOR for such correction will become additional Rent be payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEE, identifying the items corrected and setting forth the expense of such corrections. LESSEE's obligation to pay such supplemental Rent amounts will survive the Termination Date.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Copa Holdings, S.A.)

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LESSEE'S CONTINUING OBLIGATIONS. In (a) If Lessee shall, for any reason whatsoever, fail to return the Aircraft in a timely manner in the condition specified in this Lease, the Obligations of Lessee shall continue and the Lease Term shall be deemed to be extended, day-to-day, until Return of the Aircraft; provided that this paragraph shall not be construed as permitting Lessee to fail to meet its Obligation to return the Aircraft in accordance with the requirements of this Lease and shall not constitute a waiver by Lessor of any Default or Event of Default arising out of such failure or prejudice the rights of Lessor under Article 24 with respect thereto. (b) If the Aircraft is not returned to Lessor in accordance with this Lease on the Scheduled Termination Date: (i) with effect from and including the Scheduled Termination Date, Basic Rent shall continue to be payable at the daily rate of one-thirtieth (1/30) of the Basic Rent otherwise payable hereunder; and with effect from and including the fifteenth (15th) day following the Scheduled Termination Date, Basic Rent shall be payable at the daily rate of one-twentieth (1/20) of the Basic Rent otherwise payable hereunder; and with effect from and including the thirtieth (30th) day following the Scheduled Termination Date, Basic Rent shall thereafter be payable at the daily rate of one-fifteenth (1/15) of the Basic Rent otherwise payable hereunder; and (ii) payments in respect of Maintenance Reserves shall continue to be payable and, with respect to Maintenance Reserves paid on a monthly basis, prorated on a daily basis based on a month consisting of thirty (30) days; each of which amounts shall be paid by Lessee at the earlier to occur of each next Rent Payment Date and Return. Notwithstanding the foregoing, in the event that LESSEE does not Lessee is unable to return the Aircraft to LESSOR Lessor in accordance with this Lease on the Expiration Scheduled Termination Date and in the condition required by this Article 23 for primarily as a result of any reason (whether act or not the reason is within LESSEE's control): 23.11.1 the obligations omission of LESSEE under this Lease will continue in full force and effect on a day-to-day basis until such return. This will not be considered a waiver of LESSEE's Event of Default Lessor or any right of LESSOR hereunderPerson lawfully claiming by or through Lessor, Lessee’s continuing Basic Rent payment obligations as set forth in sub-section (i) shall not apply. 23.11.2 Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease. 23.11.3 LESSEE will fully indemnify LESSOR on demand for all losses (including consequential damages), liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable control, then until such time as the Aircraft is redelivered to LESSOR and put into the condition required by this Article 23, instead of paying the Rent specified in Article 5.3, LESSEE will pay twice the amount of Rent for each day from the scheduled Expiration Date until the Termination Date (the monthly Rent payable under Article 5. 3.1 will be prorated based on the actual number of days in the applicable month). Payment will be made upon presentation of LESSOR's invoice. 23.11.4 LESSOR may elect, in its sole and absolute discretion, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 and thereafter have any such non-conformance corrected at such time as LESSOR may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at commercial rates then-charged by the Person selected by LESSOR to perform such correction. Any direct expenses incurred by LESSOR for such correction will become additional Rent payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEE, identifying the items corrected and setting forth the expense of such corrections. LESSEE's obligation to pay such supplemental Rent will survive the Termination Date.

Appears in 1 contract

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

LESSEE'S CONTINUING OBLIGATIONS. In the event that LESSEE does not return the Aircraft to LESSOR on the Expiration Date and in the condition required by this Article 23 for any reason (whether or not the reason is within LESSEE's ’s control): 23.11.1 the obligations of LESSEE under this Lease will continue in full force and effect on a day-to-day basis until such return. This will not be considered a waiver of LESSEE's ’s Event of Default or any right of LESSOR hereunder. 23.11.2 Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease. 23.11.3 LESSEE will fully indemnify LESSOR on demand for all losses (including consequential damages), liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable control, then until such time as the Aircraft is redelivered to LESSOR and put into the condition required by this Article 23, instead of paying the Rent specified in Article 5.3, LESSEE will pay twice the amount of Rent for each day from the scheduled Expiration Date until the Termination Date (the monthly Rent payable under Article 5. 3.1 will be prorated based on the actual number of days in the applicable month). Payment will be made upon presentation of LESSOR's invoice.SEE PARAGRAPH 18 OF EXHIBIT C. 23.11.4 LESSOR may elect, in its sole and absolute discretion, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 and thereafter have any such non-conformance corrected at such time as LESSOR may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at commercial rates then-charged by the Person selected by LESSOR to perform such correction. Any direct and reasonable expenses incurred by LESSOR for such correction will become additional Rent payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEE, identifying the items corrected and setting forth the expense of such correctionscorrections in reasonable detail. LESSEE's ’s obligation to pay such supplemental Rent will survive the Termination Date.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Frontier Airlines Inc /Co/)

LESSEE'S CONTINUING OBLIGATIONS. In the event that LESSEE does not (a) If Lessee shall, for any reason whatsoever, fail to return the Aircraft to LESSOR on the Expiration Date and in a timely manner in the condition required by specified in this Article 23 for any reason (whether or not Lease, the reason is within LESSEE's control): 23.11.1 Obligations of Lessee shall continue and the obligations of LESSEE under this Lease will continue in full force and effect on a Term shall be deemed to be extended, day-to-day basis day, until such return. This will Return of the Aircraft; provided that this paragraph shall not be considered construed as permitting Lessee to fail to meet its Obligation to return the Aircraft in accordance with the requirements of this Lease and shall not constitute a waiver by Lessor of LESSEE's any Default or Event of Default arising out of such failure or any right prejudice the rights of LESSOR hereunderLessor under Article 24 with respect thereto. 23.11.2 Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease. 23.11.3 LESSEE will fully indemnify LESSOR on demand for all losses (including consequential damages), liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable control, then until such time as b) If the Aircraft is redelivered not returned to LESSOR Lessor in accordance with this Lease on the Scheduled Termination Date: (i) with effect from and put into including the condition required by this Article 23Scheduled Termination Date, instead Fixed Rent shall continue to be payable at the daily rate of paying one-thirtieth (1/30) of the Fixed Rent specified otherwise payable hereunder; and with effect from and including the fifteenth (15th) day following the Scheduled Termination Date, Fixed Rent shall be payable at the daily rate of one-twentieth (1/20) of the Fixed Rent otherwise payable hereunder; and with effect from and including the thirtieth (30th) day following the Scheduled Termination Date, Fixed Rent shall thereafter be payable at the daily rate of one-fifteenth (1/15) of the Fixed Rent otherwise payable hereunder; and (ii) payments in Article 5.3respect of Maintenance Reserves shall continue to be payable and, LESSEE will pay twice the amount of Rent for each day from the scheduled Expiration Date until the Termination Date (the with respect to Maintenance Reserves paid on a monthly Rent payable under Article 5. 3.1 will be basis, prorated on a daily basis based on the actual number a month consisting of days in the applicable month). Payment will be made upon presentation of LESSOR's invoice. 23.11.4 LESSOR may elect, in its sole and absolute discretion, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 and thereafter have any such non-conformance corrected at such time as LESSOR may deem appropriate thirty (but within ninety (9030) days following the return of the Aircraft) and at commercial rates then-charged by the Person selected by LESSOR to perform such correction. Any direct expenses incurred by LESSOR for such correction will become additional Rent payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEE, identifying the items corrected and setting forth the expense of such corrections. LESSEE's obligation to pay such supplemental Rent will survive the Termination Date.days;

Appears in 1 contract

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

LESSEE'S CONTINUING OBLIGATIONS. In the event that LESSEE does not return the Aircraft to LESSOR on the Expiration Date and in the condition required by this Article 23 for any reason (whether or not the reason is within LESSEE's control):) unless such delay is as a result of work performed at the request of LESSOR pursuant to Article 23.10.1 or is otherwise over and above LESSEE's obligations pursuant to this Article 23: 23.11.1 23.13.1 the obligations of LESSEE under this Lease will continue in full force and effect on a day-to-day basis until such return. This will not be considered a waiver of LESSEE's Event of Default or any right of LESSOR hereunder. 23.11.2 Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease23.13.2 Material Redacted**. 23.11.3 23.13.3 LESSEE will fully indemnify LESSOR on demand for all losses (including consequential damages), liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable control, then until such time as the Aircraft is redelivered to LESSOR and put into the condition required by this Article 23, instead of paying the Rent specified in Article 5.3, LESSEE will pay twice the amount of Rent for each day from the scheduled Expiration Date until the Termination Date (the monthly Rent payable under Article 5.the 3.1 will be prorated based on the actual number of days in the applicable month). Payment will be made upon presentation of LESSOR's invoice. 23.11.4 23.13.4 LESSOR may elect, in its sole and absolute discretion, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 and thereafter have any such non-conformance corrected at such time as LESSOR may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at commercial rates then-charged by the Person selected by LESSOR to perform such correction. Any direct expenses incurred by LESSOR for such correction will become additional Rent be payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEE, identifying the items corrected and setting forth the expense of such corrections. LESSEE's obligation to pay such supplemental Rent amounts will survive the Termination Date.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Copa Holdings, S.A.)

LESSEE'S CONTINUING OBLIGATIONS. In the event that LESSEE Lessee does not return the Aircraft to LESSOR on the Expiration Date Lessor upon termination of this Lease (including, without limitation, any termination resulting from an Event of Default by Lessee) and in the condition required by this Article 23 herein for any reason (whether or not the reason is within LESSEE's control): 23.11.1 reason, the obligations of LESSEE Lessee under this Lease will continue shall continue; provided, however, that such failure to return the Aircraft to Lessor in full force such condition shall not be the result of a breach by Lessor of its covenant of quiet enjoyment which has resulted in Lessee having been deprived of use and effect on a day-to-day basis until possession of the Aircraft immediately prior to such returntermination, in which case the Aircraft shall be returned in its then condition provided that, immediately prior to such breach by Lessor of its covenant of quiet enjoyment such Aircraft shall have been in such condition as to meet the requirements of SECTION 8 hereof but for such breach. This will Such continuation of Lessee's obligations shall not be considered a renewal of the terms of this Lease or of Lessee's rights to use the Aircraft, an extension of the Lease Term or a waiver of LESSEE's any Default or Event of Default or any an right of LESSOR Lessor hereunder. 23.11.2 . Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease. 23.11.3 LESSEE will fully indemnify LESSOR on demand for all losses (including consequential damages), liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable control, then until such time as the Aircraft is redelivered to LESSOR Lessor as required herein, Lessee agrees, during the first thirty (30) days following the termination hereof, to pay Basic Rent with interest at the Post-Default Rate and put into the condition required by this Article 23, instead of paying the Rent specified in Article 5.3, LESSEE will thereafter to pay twice the amount of Basic Rent for each day from such thirtieth (30th) day after the scheduled Expiration Date termination hereof until redelivery of the Termination Date Aircraft in the condition required hereunder (the monthly Basic Rent payable under Article 5. 3.1 will be being prorated based on the actual number of days in the applicable month). Payment will be made upon presentation of LESSOR's invoice. 23.11.4 LESSOR may elect, in its sole and absolute discretion, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 and thereafter have any such non-conformance corrected at such time as LESSOR may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at commercial rates then-charged by the Person selected by LESSOR to perform such correction. Any direct expenses incurred by LESSOR for such correction will become additional Rent payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEE, identifying the items corrected and setting forth the expense of such corrections. LESSEE's obligation to pay such supplemental Rent will survive the Termination Date.

Appears in 1 contract

Samples: Lease Agreement (Western Pacific Airlines Inc /De/)

LESSEE'S CONTINUING OBLIGATIONS. In the event that LESSEE does not return the Aircraft to LESSOR on the Expiration Date and in the condition required by this Article 23 22 for any reason (whether or not the reason is within LESSEE's control):) except as provided under Article 22.8.3: 23.11.1 22.11.1 the obligations of LESSEE under this Lease will continue in full force and effect on a day-to-day basis until such return. This will not be considered a waiver of LESSEE's Event of Default or any right of LESSOR hereunder. 23.11.2 22.11.2 Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease. 23.11.3 22.11.3 LESSEE will fully indemnify LESSOR on demand for all losses (including consequential damages)losses, liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable control, then until such time as the Aircraft is redelivered to LESSOR and put into the condition required by this Article 2322, instead of paying the Rent specified in Article 5.34.2, except as provided in Article 22.5.3, LESSEE will pay twice the amount of Rent for each day from the scheduled Expiration Date until the Termination Date (the monthly Rent payable under Article 5. 3.1 4.2 will be prorated based on the actual number of days in the applicable month). Payment will be made upon presentation of LESSOR's invoice. 23.11.4 22.11.4 LESSOR may elect, in its sole and absolute discretion, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 22 and thereafter have any such non-conformance corrected at such time as LESSOR may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at [Redacted] commercial rates then-charged by the Person selected by LESSOR to perform such correction. [Redacted]. Any direct expenses incurred by LESSOR for such correction will become additional Rent payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEE, identifying the items corrected and setting forth the expense of such corrections. LESSEE's obligation to pay such supplemental Rent will survive the Termination Date.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Hawaiian Airlines Inc/Hi)

LESSEE'S CONTINUING OBLIGATIONS. In the event that LESSEE does not return the Aircraft to LESSOR on the Expiration Date and in the condition required by this Article 23 for any reason (whether or not the reason is within LESSEE's ’s control):) unless such delay is as a result of work performed at the request of LESSOR pursuant to Article 23.10.1 or is otherwise over and above LESSEE’s obligations pursuant to this Article 23: 23.11.1 23.13.1 the obligations of LESSEE under this Lease will continue in full force and effect on a day-to-day basis until such return. This will not be considered a waiver of LESSEE's ’s Event of Default or any right of LESSOR hereunder. 23.11.2 Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease23.13.2 Material Redacted**. 23.11.3 23.13.3 LESSEE will fully indemnify LESSOR on demand for all losses (including consequential damages), liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by LESSOR and, in addition, if a delay in return of the Aircraft was due to reasons within LESSEE's reasonable control, then until such time as the Aircraft is redelivered to LESSOR and put into the condition required by this Article 23, instead of paying the Rent specified in Article 5.3, LESSEE will pay twice the amount of Rent for each day from the scheduled Expiration Date until the Termination Date (the monthly Rent payable under Article 5.the 3.1 will be prorated based on the actual number of days in the applicable month). Payment will be made upon presentation of LESSOR's ’s invoice. 23.11.4 23.13.4 LESSOR may elect, in its sole and absolute discretion, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 23 and thereafter have any such non-conformance corrected at such time as LESSOR may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at commercial rates then-charged by the Person selected by LESSOR to perform such correction. Any direct expenses incurred by LESSOR for such correction will become additional Rent be payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEE, identifying the items corrected and setting forth the expense of such corrections. LESSEE's ’s obligation to pay such supplemental Rent amounts will survive the Termination Date.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Copa Holdings, S.A.)

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