Common use of Lessor Obligations Following Expiry Date Clause in Contracts

Lessor Obligations Following Expiry Date. Within 5 Business Days of:- (a) redelivery of the Aircraft to Lessor in accordance with and in the condition required by this Agreement; or (b) payment to Lessor of the Agreed Value following an Event of Loss after the Delivery Date; or in each case such later time as Lessor is satisfied Lessee has irrevocably paid to Lessor all Rent which may then be outstanding or become payable under this Agreement or the Other Agreements and provided that no Default shall have occurred and is continuing, Lessor will pay to Lessee:- (i) an amount equal to (x) the amount of the Aircraft Commitment Fee paid by Lessee and referenced in Clause 5.1; plus (y) the amount of interest at the rate and otherwise calculated in accordance with Letter Agreement No. 1 which would have accrued on the amount referred to in (x); and (ii) the amount of any Basic Rent received in respect of any period falling after the date of redelivery of the Aircraft or payment of the Agreed Value, as the case may be; and (iii) an amount equal to (x) the aggregate amount of Supplemental Rent previously paid by Lessee under this Agreement; minus (y) the aggregate amount previously paid by Lessor under Clause 7.2 without payment of interest.

Lessor Obligations Following Expiry Date. Within 5 Business Days of:- (a) redelivery of the Aircraft to Lessor in accordance with and in the condition required by this Agreement; or (b) payment to Lessor of the Agreed Value following an Event of Loss after the Delivery Date; or in each case such later time as Lessor is satisfied Lessee has irrevocably paid to Lessor all Rent amounts which may then be outstanding or become payable under this Agreement or the Other Agreements and provided that no Default shall have occurred and is continuing, Lessor will pay to Lessee:- (i) an amount equal to (x) the amount of the Aircraft Commitment Fee paid by Lessee and referenced in Clause 5.1; plus (y) the amount of interest at the rate and otherwise calculated in accordance with Letter Agreement No. 1 which would have accrued on the amount referred to in (x); and (ii) the amount of any Basic Rent received in respect of any period falling after the date of redelivery of the Aircraft or payment of the Agreed Value, as the case may be; and (iii) an amount equal to (x) the aggregate amount of Supplemental Rent previously paid by Lessee under this Agreement; minus (y) the aggregate amount previously paid by Lessor under Clause 7.2 without payment of interest.