Lessee's Election. Upon the occurrence of an Event of Loss with respect to the Aircraft, Lessee shall forthwith (and in any event within 15 days after such occurrence) give Lessor, Indenture Trustee and each Participant written notice of such Event of Loss and, within 60 days after such occurrence, give Lessor, Indenture Trustee and each Participant written notice of its election to comply either with Section 10.1.2 or Section 10.1.3, and if Lessee shall not have given notice of such election within 60 days after such occurrence Lessee shall be deemed to have elected to comply with Section 10.1.3.
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Samples: Sale and Lease Agreement (Southwest Airlines Co), Sale and Lease Agreement (Southwest Airlines Co), Sale and Lease Agreement (Southwest Airlines Co)
Lessee's Election. Upon the occurrence of an Event of Loss with respect to the Aircraft, Lessee shall forthwith (and in any event within 15 days after such occurrence) give Lessor, Indenture Trustee and each Participant written notice of such Event of Loss and, within 60 days after such occurrence, give Lessor, Indenture Trustee and each Participant written notice of its election to comply either with Section 10.1.2 or Section 10.1.3, and if SALE AND LEASE AGREEMENT [N604SW] -34- 41 Lessee shall not have given notice of such election within 60 days after such occurrence Lessee shall be deemed to have elected to comply with Section 10.1.3.
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