Common use of LESSEE'S SPECIAL EXTERIOR MARKINGS Clause in Contracts

LESSEE'S SPECIAL EXTERIOR MARKINGS. At the time of the return of the Aircraft, Lessee shall, at Lessor's election, either remove or paint over exterior markings painted on such Aircraft by Lessee and the area where such markings were removed or painted over shall be refurbished by Lessee as necessary to blend in with the surrounding surface. In the event that, notwithstanding Lessee's obligation to do so, Lessee does not remove such markings, Lessor shall have no obligation to remove such markings prior to the sale, lease, or other disposition of the Aircraft by Lessor after its return; however, if Lessor elects to remove such markings, Lessee shall pay Lessor's costs and expenses for such removal within ten (10) days of the date of Lessor's invoice therefor. Any late payments shall be subject to interest at the Overdue Payment Rate.

Appears in 4 contracts

Samples: Aircraft Lease Agreement (American Income Partners v a LTD Partnership), Aircraft Lease Agreement (American Income Fund I-A), Aircraft Lease Agreement (Turn Works Acquisition Iii Sub a Inc)

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LESSEE'S SPECIAL EXTERIOR MARKINGS. At the time of the return of the Aircraft, Lessee shall, at Lessor's election, either remove or paint over exterior markings painted on such Aircraft by Lessee and the area where such markings were removed or painted over shall be refurbished by Lessee as necessary to blend in with the surrounding surface. In the event that, notwithstanding Lessee's obligation to do so, Lessee does not remove such markingsmarkingx, Lessor Xxxsor shall have no obligation to remove such markings prior to the sale, lease, or other disposition of the Aircraft by Lessor after its return; : however, if Lessor elects to remove such markings, Lessee shall pay Lessor's costs and expenses for such removal within ten (10) days of the date of Lessor's invoice therefor. Any late payments shall be subject to interest at the Overdue Payment Rate.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Turn Works Acquisition Iii Sub a Inc)

LESSEE'S SPECIAL EXTERIOR MARKINGS. At the time of the return of the ---------------------------------- Aircraft, Lessee shall, at Lessor's election, shall either remove or paint over exterior markings painted on such Aircraft by Lessee and the area where such markings were removed or painted over shall be refurbished by Lessee as necessary to blend in with the surrounding surface. In the event that, notwithstanding Lessee's obligation to do so, Lessee does not remove such markings, Lessor shall have no obligation to remove such markings prior to the sale, lease, or other disposition of the Aircraft by Lessor after its return; however, if Lessor elects to remove such markings, Lessee shall pay Lessor's costs and expenses for such removal within ten (10) days of the date after presentation of Lessor's invoice therefor. Any late payments shall be subject to interest at the Overdue Payment Rate.

Appears in 1 contract

Samples: Guaranty Agreement (American Income Partners v B LTD Partnership)

LESSEE'S SPECIAL EXTERIOR MARKINGS. At the time of the return of the Aircraft, Lessee shall, at Lessor's election, shall either remove or paint over exterior markings painted on such Aircraft by Lessee and the area where such markings were removed or painted over shall be refurbished by Lessee as necessary to blend in with the surrounding surface. In the event that, notwithstanding Lessee's obligation to do so, Lessee does not remove such markings, Lessor shall have no obligation to remove such markings prior to the sale, lease, or other disposition of the Aircraft by Lessor after its return; however, if Lessor elects to remove such markings, Lessee shall pay Lessor's costs and expenses for such removal within ten (10) days of the date after presentation of Lessor's invoice therefor. Any late payments shall be subject to interest at the Overdue Payment Rate.

Appears in 1 contract

Samples: Aircraft Lease Agreement (American Income Partners v a LTD Partnership)

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LESSEE'S SPECIAL EXTERIOR MARKINGS. At the time of the return of the Aircraft, Lessee shall, at Lessor's election, either remove or shall paint over exterior markings painted on such Aircraft by Lessee and the area where such markings were removed or painted over shall be refurbished by Lessee as necessary to blend in with the surrounding surface. In the event that, notwithstanding Lessee's obligation to do so, Lessee does not remove such markings, Lessor shall have no obligation to remove such markings prior to the sale, lease, or other disposition of the Aircraft by Lessor after its return; however, if Lessor elects to remove such markings, Lessee shall pay Lessor's reasonable direct costs and expenses paid for such removal within ten (10) 10 days of the date of Lessor's invoice therefor. Any late payments shall be subject to interest at the Overdue Payment Rate.

Appears in 1 contract

Samples: Lease Agreement (Turn Works Acquisition Iii Sub a Inc)

LESSEE'S SPECIAL EXTERIOR MARKINGS. At the time of the return ---------------------------------- of the Aircraft, Lessee shallshall remove or paint over, at Lessor's election, either remove or paint over all of Lessee's logos and other exterior markings painted on the Aircraft so that such Aircraft by Lessee logos and markings shall match the area where color of the adjacent areas and such markings were removed or painted over work shall be refurbished by Lessee as necessary to blend accomplished in with the surrounding surfacea workmanlike manner. In the event that, notwithstanding Lessee's obligation to do so, Lessee does not remove such markings, Lessor shall have no obligation to remove such markings prior to the sale, lease, or other disposition of the Aircraft by Lessor after its return; however, if Lessor elects to remove such markings, Lessee shall within 30 days of the receipt of Lessor's invoice pay Lessor's reasonable costs and expenses for such removal within ten (10) days of the date of Lessor's invoice thereforremoval. Any late payments shall be subject to interest at the Overdue Payment Rate.

Appears in 1 contract

Samples: Lease Agreement (Airfund Ii International Limited Partnership)

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