LESSOR'S PERFORMANCE OF LESSEE'S OBLIGATIONS. If Lessee fails to make any payment of Rent or fails to perform or comply with any agreement, covenant or obligation contained in any Operative Document, Lessor shall have the right, but not the obligation, at its election and without waiver of any of its rights or remedies against Lessee, to perform or comply with such covenant, agreement or obligation and/or pay such amount, and the amount of such payment and any Expenses incurred by Lessor in connection with such payment or the performance of or compliance with such agreement, covenant or obligation, as the case may be, together with interest at the Past Due Rate, shall be payable by Lessee to Lessor upon demand as Rent—Supplemental. The taking of any action by Lessor pursuant to this Section 16.2 shall not constitute a waiver or release of any obligation of Lessee under any Operative Document nor a waiver of any Default which may arise out of Lessee’s nonperformance of such obligation, nor an election or waiver by Lessor of any right or remedy available to Lessor under or in relation to any Operative Document.
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Samples: Lease Agreement (Aircastle LTD)
LESSOR'S PERFORMANCE OF LESSEE'S OBLIGATIONS. If Lessee fails to make any payment of Rent or fails falls to perform or comply with any agreement, covenant or obligation contained herein or in any other Operative Document, Lessor shall have the right, but not the obligation, at its election and without waiver of any of its rights or remedies against Lessee, to perform or comply with such covenant, agreement or obligation and/or pay such amount, and the amount of such payment and any Expenses incurred by Lessor in connection with such payment or the performance of or compliance with such agreement, covenant or obligation, as the case may be, together with interest at the Past Due Rate, shall be payable by Lessee to Lessor upon demand as Supplemental Rent—Supplemental. The taking of any action by Lessor pursuant to this Section 16.2 23(b) 72 [Amended and Restated Lease Agreement] shall not constitute a waiver or release of any obligation of Lessee under any Operative Document hereunder nor a waiver of any Default which may arise out of Lessee’s 's nonperformance of such obligation, nor an election or waiver by Lessor of any right or remedy available to Lessor under or in relation to any Operative Documentthis Agreement.
Appears in 1 contract
Samples: Lease Agreement (Turn Works Acquisition Iii Sub a Inc)
LESSOR'S PERFORMANCE OF LESSEE'S OBLIGATIONS. If Lessee fails to make any payment of Rent or fails to perform or comply with any agreement, covenant or obligation contained herein or in any other Operative Document, Lessor shall have the right, but not the obligation, at its election and without waiver of any of its rights or remedies against Lessee, to perform or comply with such covenant, agreement or obligation and/or pay such amount, and the amount of such payment and any Expenses incurred by Lessor in connection with such payment [Lease Agreement] or the performance of or compliance with such agreement, covenant or obligation, as the case may be, together with interest at the Past Due Rate, shall be payable by Lessee to Lessor upon demand as Supplemental Rent—Supplemental. The taking of any action by Lessor pursuant to this Section 16.2 23(b) shall not constitute a waiver or release of any obligation of Lessee under any Operative Document hereunder nor a waiver of any Default which may arise out of Lessee’s 's nonperformance of such obligation, nor an election or waiver by Lessor of any right or remedy available to Lessor under or in relation to any Operative Documentthis Agreement.
Appears in 1 contract
Samples: Lease Agreement (Turn Works Acquisition Iii Sub a Inc)
LESSOR'S PERFORMANCE OF LESSEE'S OBLIGATIONS. If Lessee fails to make any payment of Rent or fails to perform or comply with any agreement, covenant or obligation contained herein or in any other Operative Document, Lessor or Security Agent shall have the right, but not the obligation, at its election and without waiver of any of its rights or remedies against Lessee, to perform or comply with such covenant, agreement or obligation and/or pay such amount, and the amount of such payment and any Expenses incurred by Lessor or Security Agent, as the case may be, in connection with such payment or the performance of or compliance with such agreement, covenant or obligation, as the case may be, together with interest at the Past Due Rate, shall be payable by Lessee to Lessor upon demand as Supplemental Rent—Supplemental. The taking of any action by Lessor or Security Agent, as the case may be, pursuant to this Section 16.2 shall not constitute a waiver or release of any obligation of Lessee under any Operative Document hereunder nor a waiver of any Default which may arise out of Lessee’s 's nonperformance of such obligation, nor an election or waiver by Lessor of any right or remedy available to Lessor under or in relation to this Lease Agreement or any other Operative Document.. Frontier Lease Agreement (MSN 28662) Execution Copy -66-
Appears in 1 contract
Samples: Aircraft Lease Agreement (Frontier Airlines Inc /Co/)
LESSOR'S PERFORMANCE OF LESSEE'S OBLIGATIONS. If Lessee fails to make any payment of Rent or fails to perform or comply with any agreement, covenant or obligation contained herein or in any other Operative Document, Lessor or Owner Participant shall have the right, but not the obligation, at its election and without waiver of any of its rights or remedies against Lessee, to perform or comply with such covenant, agreement or obligation and/or pay such amount, and the amount of such payment and any Expenses incurred by Lessor or Owner Participant in connection with such payment or the performance of or compliance with such agreement, covenant or obligation, as the case may be, together with interest at the Past Due Rate, shall be payable by Lessee to Lessor Lessor, or Owner Participant, as the case may be, upon demand as Supplemental Rent—Supplemental. The taking of any action by Lessor or Owner Participant pursuant to this Section 16.2 23(b) shall not constitute a waiver or release of any obligation of Lessee under any Operative Document hereunder nor a waiver of any Default which may arise out of Lessee’s 's nonperformance of such obligation, nor an election or waiver by Lessor of any right or remedy available to Lessor under or in relation to any Operative Documentthis Agreement.
Appears in 1 contract
LESSOR'S PERFORMANCE OF LESSEE'S OBLIGATIONS. If Lessee fails to make any payment of Rent or fails to perform or comply with any agreement, covenant or obligation contained herein or in any other Operative Document, Lessor or Security Agent shall have the right, but not the obligation, at its election and without waiver of any of its rights or remedies against Lessee, to perform or comply with such covenant, agreement or obligation and/or pay such amount, and the amount of such payment and any Expenses incurred by Lessor or Security Agent, as the case may be, in connection with such payment or the performance of or compliance with such agreement, covenant or obligation, as the case may be, together with interest at the Past Due Rate, shall be payable by Lessee to Lessor upon demand as Supplemental Rent—Supplemental. The taking of any action by Lessor or Security Agent, as the case may be, pursuant to this Section 16.2 shall not constitute a waiver or release of any obligation of Lessee under any Operative Document hereunder nor a waiver of any Default which may arise out of Lessee’s 's nonperformance of such obligation, nor an election or waiver by Lessor of any right or remedy available to Lessor under or in relation to this Lease Agreement or any other Operative Document.. Frontier Lease Agreement (MSN 28760) Exection Copy -66-
Appears in 1 contract
Samples: Aircraft Lease Agreement (Frontier Airlines Inc /Co/)