Common use of Life Remaining Clause in Contracts

Life Remaining. On the date the Aircraft is returned under the Lease at the expiration of the Basic Term or a Renewal Term in the event Lessor shall have irrevocably exercised its option to sell the Aircraft at such expiration, and shall be simultaneously exercising its rights, pursuant to the Residual Agreement or a Successor Residual Agreement, the Aircraft shall comply with the following additional requirements: (i) The Engines shall have on average a minimum of one-half HSI period remaining in accordance with MRB limits current on the date the Aircraft is returned under the Lease, provided that in the event the Engines do not have an average of at least one-half HSI period remaining in accordance with such MRB limits, an Engine HSI Half-Life Adjustment under clause (c)(i) shall be made in lieu of meeting such condition, provided, however, that in no event shall any Engine have less than one-quarter HSI period remaining in accordance with such MRB limits or have any defects or discrepancies outside of the limits set forth in the Maintenance Planning Document. (ii) Engine life limited parts shall have on average at least half-life remaining to their respective scheduled replacement in accordance with the Engine Manufacturer's published life limited part replacement schedule current on the date the Aircraft is returned under the Lease, provided that in the event the Engine life limited parts do not have an average of at least half-life remaining to their respective scheduled replacement, an Engine life limited part Half-Life Adjustment under clause (c)(ii) shall be made in lieu of meeting such condition, provided, however, that in no event shall any Engine life limited part have less than one-quarter life remaining to its scheduled replacement in accordance with the Engine Manufacturer's published life limited part replacement schedule current on the date the Aircraft is returned under the Lease. (iii) The APU shall have remaining at least half of any applicable HSI period remaining on the date the Aircraft is returned under the Lease in accordance with the then current MRB standards, provided that in the event the APU does not have at least half of any applicable HSI period remaining, an APU Half-Life Adjustment under clause (c)(iii) shall be made in lieu of meeting such condition. (iv) The landing gear shall have at least half-life remaining to the next landing gear overhaul according to MRB requirements current on the date the Aircraft is returned under the Lease, provided that in the event the landing gear does not have at least half-life remaining to such next landing gear overhaul, a landing gear Half-Life Adjustment under clause (c)(iv) shall be made in lieu of meeting such condition. (v) The Aircraft's next sequential block C check (which C check shall include full fault rectification) shall have been completed immediately prior to the date the Aircraft is returned under the Lease, provided that in the event the Aircraft has at least 25% of the time remaining until its next scheduled sequential block C check, a C check Half-Life Adjustment under clause (c)(v) shall be made in lieu of such block C check. If the Maintenance Program permits a block C check to be performed in phases, all phases of such block C check shall have been performed in order to align such block C check with the BAe/Avro "block type" Maintenance Planning Document schedule. (vi) The Airframe shall have a minimum of half-time remaining until its next scheduled major structural inspections, provided that in the event the Aircraft has at least 25% of the time remaining until its next scheduled major structural inspection, but less than half-time, a structural inspection Half-Life Adjustment under the first sentence of clause (c)(vi) shall be made in lieu of meeting such condition and in the event the Aircraft has more than 75% of the time remaining until its next scheduled major structural inspection, a structural inspection Half-Life Adjustment under the second sentence of clause (c)(vi) shall be made. For purposes of determining whether the foregoing requirements have been satisfied:

Life Remaining. On the date the Aircraft is returned under the Lease at the expiration end of the Basic Term or a Renewal Term in the event Lessor shall have irrevocably exercised its option to sell the Aircraft at such expiration, and shall be simultaneously exercising its rights, pursuant to the Residual Agreement or a Successor Residual AgreementTerm, the Aircraft shall comply with the following additional requirements: (i) The Engines shall have on average a minimum of one-half HSI period remaining in accordance with MRB limits current on the date the Aircraft is returned under the Lease, provided that in the event the Engines do not have an average of at least one-half HSI period remaining in accordance with such MRB limits, an Engine HSI Half-Life Adjustment under clause (c)(i) shall be made in lieu of meeting such condition, provided, however, that in no event shall any Engine have less than one-quarter HSI period remaining in accordance with such MRB limits or have any defects or discrepancies outside of the limits set forth in the Maintenance Planning Document. (ii) Engine life limited parts shall have on average at least half-life remaining to their respective scheduled replacement in accordance with the Engine Manufacturer's published life limited part replacement schedule current on the date the Aircraft is returned under the Lease, provided that in the event the Engine life limited parts do not have an average of at least half-life remaining to their respective scheduled replacement, an Engine life limited part Half-Life Adjustment under clause (c)(ii) shall be made in lieu of meeting such condition, provided, however, that in no event shall any Engine life limited part have less than one-quarter life remaining to its scheduled replacement in accordance with the Engine Manufacturer's published life limited part replacement schedule current on the date the Aircraft is returned under the Lease. (iii) The APU shall have remaining at least half of any applicable HSI period remaining on the date the Aircraft is returned under the Lease in accordance with the then current MRB standards, provided that in the event the APU does not have at least half of any applicable HSI period remaining, an APU Half-Life Adjustment under clause (c)(iii) shall be made in lieu of meeting such condition. (iv) The landing gear shall have at least half-life remaining to the next landing gear overhaul according to MRB requirements current on the date the Aircraft is returned under the Lease, provided that in the event the landing gear does not have at least half-life remaining to such next landing gear overhaul, a landing gear Half-Life Adjustment under clause (c)(iv) shall be made in lieu of meeting such condition. (v) The Aircraft's next sequential block C check (which C check shall include full fault rectification) shall have been completed immediately prior to the date the Aircraft is returned under the Lease, provided that in the event the Aircraft has at least 25% of the time remaining until its next scheduled sequential block C check, a C check Half-Life Adjustment under clause (c)(v) shall be made in lieu of such block C check. If the Maintenance Program permits a block C check to be performed in phases, all phases of such block C check shall have been performed in order to align such block C check with the BAe/Avro "block type" Maintenance Planning Document schedule. (vi) The Airframe shall have a minimum of half-time remaining until its next scheduled major structural inspections, provided that in the event the Aircraft has at least 25% of the time remaining until its next scheduled major structural inspection, but less than half-time, a structural inspection Half-Life Adjustment under the first sentence of clause (c)(vi) shall be made in lieu of meeting such condition and in the event the Aircraft has more than 75% of the time remaining until its next scheduled major structural inspection, a structural inspection Half-Life Adjustment under the second sentence of clause (c)(vi) shall be made. For purposes of determining whether the foregoing requirements have been satisfied:

Life Remaining. On the date the Aircraft is returned under the Lease at the expiration end of the Basic Term or a Renewal Term in the event Lessor shall have irrevocably exercised its option to sell the Aircraft at such expiration, and shall be simultaneously exercising its rights, pursuant to the Residual Agreement or a Successor Residual AgreementTerm, the Aircraft shall comply with the following additional requirements: (i) The Engines shall have on average a minimum of one-half HSI period remaining in accordance with MRB limits current on the date the Aircraft is returned under the Lease, provided PROVIDED that in the event the Engines do not have an average of at least one-half HSI period remaining in accordance with such MRB limits, an Engine HSI Half-Life Adjustment under clause (c)(i) shall be made in lieu of meeting such condition, providedPROVIDED, howeverHOWEVER, that in no event shall any Engine have less than one-quarter HSI period remaining in accordance with such MRB limits or have any defects or discrepancies outside of the limits set forth in the Maintenance Planning Document. (ii) Engine life limited parts shall have on average at least half-life remaining to their respective scheduled replacement in accordance with the Engine Manufacturer's published life limited part replacement schedule current on the date the Aircraft is returned under the Lease, provided PROVIDED that in the event the Engine life limited parts do not have an average of at least half-life remaining to their respective scheduled replacement, an Engine life limited part Half-Life Adjustment under clause (c)(ii) shall be made in lieu of meeting such condition, providedPROVIDED, howeverHOWEVER, that in no event shall any Engine life limited part have less than one-quarter life remaining to its scheduled replacement in accordance with the Engine Manufacturer's published life limited part replacement schedule current on the date the Aircraft is returned under the Lease. (iii) The APU shall have remaining at least half of any applicable HSI period remaining on the date the Aircraft is returned under the Lease in accordance with the then current MRB standards, provided PROVIDED that in the event the APU does not have at least half of any applicable HSI period remaining, an APU Half-Life Adjustment under clause (c)(iii) shall be made in lieu of meeting such condition. (iv) The landing gear shall have at least half-life remaining to the next landing gear overhaul according to MRB requirements current on the date the Aircraft is returned under the Lease, provided PROVIDED that in the event the landing gear does not have at least half-life remaining to such next landing gear overhaul, a landing gear Half-Life Adjustment under clause (c)(iv) shall be made in lieu of meeting such condition. (v) The Aircraft's next sequential block C check (which C check shall include full fault rectification) shall have been completed immediately prior to the date the Aircraft is returned under the Lease, provided PROVIDED that in the event the Aircraft has at least 25% of the time remaining until its next scheduled sequential block C check, a C check Half-Life Adjustment under clause (c)(v) shall be made in lieu of such block C check. If the Maintenance Program permits a block C check to be performed in phases, all phases of such block C check shall have been performed in order to align such block C check with the BAe/Avro "block type" Maintenance Planning Document schedule. (vi) The Airframe shall have a minimum of half-time remaining until its next scheduled major structural inspections, provided PROVIDED that in the event the Aircraft has at least 25% of the time remaining until its next scheduled major structural inspection, but less than half-time, a structural inspection Half-Life Adjustment under the first sentence of clause (c)(vi) shall be made in lieu of meeting such condition and in the event the Aircraft has more than 75% of the time remaining until its next scheduled major structural inspection, a structural inspection Half-Life Adjustment under the second sentence of clause (c)(vi) shall be made. For purposes of determining whether the foregoing requirements have been satisfied: