Common use of LIQUIDATED DAMAGES UPON SALE Clause in Contracts

LIQUIDATED DAMAGES UPON SALE. If Lessor, pursuant to Section 15.1.2 or applicable Law, shall have sold the Airframe and/or any Engine, Lessor, in lieu of exercising its rights under Section 15.1.3 with respect to the Aircraft, Airframe or any Engine, as the case may be, may, if Lessor shall so elect, upon giving written notice to Lessee, demand Lessee to pay Lessor, and Lessee shall pay to Lessor, on the date of such sale and in the manner and in funds of the type specified in Section 3.3, 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, for the Aircraft in respect of all periods commencing on or after the date of such sale), the following amounts:

LIQUIDATED DAMAGES UPON SALE. If LessorIf, pursuant to Section ss. 15.1.2 or applicable Law, shall have Lessor has sold the Airframe and/or or any Engine, Lessorthen, in lieu of exercising its rights under Section ss. 15.1.3 with respect to the Aircraft, Airframe the Airframe, or any EngineEngine (as applicable), as the case may be, Lessor may, if Lessor shall so electelects, upon giving written notice to Lessee, demand that Lessee to pay to Lessor, and Lessee shall pay to Lessor, on the date of such sale and in the manner and in funds of the type specified in Section ss. 3.3, 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, for the Aircraft in respect of all periods commencing on or after the date of such sale), the following amounts: