Common use of Liquidated Damages--Fair Market Sales Value Clause in Contracts

Liquidated Damages--Fair Market Sales Value. If Lessor shall not have sold the Aircraft, Lessor, by written notice to Lessee specifying a payment date (which shall be an SLV Determination Date) not earlier than ten days from the date of such notice, may cause Lessee to pay to Lessor, and Lessee shall pay to Lessor, on the payment date specified in such notice, as liquidated damages for loss of a bargain and not as a penalty (in lieu of the Interim Rent, Basic Rent or Renewal Rent, as the case may be, due after the date specified for payment in such notice), any unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, due on or prior to such SLV Determination Date (it being understood and agreed that Lessee shall not be required to pay the portion, if any, of such Interim Rent or Basic Rent designated in Exhibit C hereto as payable in advance on such SLV Determination Date) plus an amount equal to the excess, if any, of the Stipulated Loss Value for the Aircraft, computed as of such SLV Determination Date, over the fair market sales value of the Aircraft (determined as hereafter provided in this Section 15 as of the date specified for payment in such notice), together with interest, if any, on such amount and unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, at the Overdue Rate from the date specified for payment in such notice to the date of payment in full; or

Liquidated Damages--Fair Market Sales Value. If Lessor shall not have sold the Aircraft, Lessor, by written notice to Lessee specifying a payment date (which shall be an SLV Determination Date) not earlier than ten days from the date of such notice, may cause Lessee to pay to Lessor, and Lessee shall pay to Lessor, on the payment date specified in such notice, as liquidated damages for loss of a bargain and not as a penalty (in lieu of the Interim Rent, Basic Rent or Renewal Rent, as the case may be, due after the date specified for payment in such notice), any unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, due on or after the date specified for payment in such notice), any unpaid Basic Rent or Renewal Rent, as the case may be, due prior to such SLV Determination Date (it being understood and agreed that Lessee shall not be required to pay the portion, if any, of such Interim Rent or Basic Rent designated in Exhibit C hereto as payable in advance on such SLV Determination Date) date plus an amount equal to the excess, if any, of the Stipulated Loss Value for the Aircraft, computed as of such SLV Determination Date, date over the fair market sales value of the Aircraft (determined as hereafter provided in this Section 15 as of the date specified for payment in such notice), together with interest, if any, on such amount and unpaid Interim Rent, Basic Rent or SALE AND LEASE AGREEMENT 38 Renewal Rent, as the case may be, at the Overdue Rate from the date specified for payment in such notice to the date of payment in full; or

Liquidated Damages--Fair Market Sales Value. If Lessor shall not have sold the Aircraft, Lessor, by written notice to Lessee specifying a payment date (which shall be an SLV Determination Date) not earlier than ten days from the date of such notice, may cause Lessee to pay to Lessor, and Lessee shall pay to Lessor, on the payment date specified in such notice, as liquidated damages for loss of a bargain and not as a penalty (in lieu of the Interim Rent, Basic Rent or Renewal Rent, as the case may be, due after the date specified for payment in such notice), any unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, due on or prior to such SLV Determination Date (it being understood and agreed that Lessee shall not be required to pay the portion, if any, of such Interim Rent or Basic Rent designated in Exhibit C hereto as payable in advance on such SLV Determination Date) plus an amount equal to the excess, if any, of the Stipulated Loss Value for the Aircraft, computed as of such SLV Determination Date, over the fair market sales value of the Aircraft (determined as hereafter provided in this Section 15 as of the SALE AND LEASE AGREEMENT [N603SW] -50- 57 date specified for payment in such notice), together with interest, if any, on such amount and unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, at the Overdue Rate from the date specified for payment in such notice to the date of payment in full; or

Liquidated Damages--Fair Market Sales Value. If Lessor shall not have sold the Aircraft, Lessor, by written notice to Lessee specifying a payment date (which shall be an SLV Determination Date) not earlier than ten days from the date of such notice, may cause Lessee to pay to Lessor, and Lessee SALE AND LEASE AGREEMENT [N396SW] -52- 59 shall pay to Lessor, on the payment date specified in such notice, as liquidated damages for loss of a bargain and not as a penalty (in lieu of the Interim Rent, Basic Rent or Renewal Rent, as the case may be, due after the date specified for payment in such notice), any unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, due on or prior to such SLV Determination Date (it being understood and agreed that Lessee shall not be required to pay the portion, if any, of such Interim Rent or Basic Rent designated in Exhibit C hereto as payable in advance on such SLV Determination Date, unless the same is attributable to accrued interest on the Certificates) plus an amount equal to the excess, if any, of the Stipulated Loss Value for the Aircraft, computed as of such SLV Determination Date, over the fair market sales value of the Aircraft (determined as hereafter provided in this Section 15 as of the date specified for payment in such notice), together with interest, if any, on such amount and unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, at the Overdue Rate from the due date specified for payment in such notice thereof to the date of payment in full; or

Liquidated Damages--Fair Market Sales Value. If Lessor shall not have sold the Aircraft, Lessor, by written notice to Lessee specifying a payment date (which shall be an SLV Determination Date) not earlier than ten days from the date of such notice, may cause Lessee to pay to Lessor, and Lessee shall pay to Lessor, on the payment date specified in such notice, as liquidated damages for loss of a bargain and not as a penalty (in lieu of the Interim Rent, Basic Rent or Renewal Rent, as the case may be, due after the date specified for payment in such notice), any unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, due on or prior to such SLV Determination Date (it being understood and agreed that Lessee shall not be required to pay the portion, if any, of such Interim Rent or Basic Rent designated in Exhibit C hereto as payable in advance on such SLV Determination Date) plus an amount equal to the excess, if any, of the Stipulated Loss Value for the Aircraft, computed as of such SLV Determination Date, over the fair market sales value of the Aircraft (determined as hereafter provided in this Section 15 as of the date specified for payment in such notice), together with interest, if any, on such amount and unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, at the Overdue Rate from the date specified for payment in such notice to the date of payment in full; or