Maintenance Reserves Sample Clauses
Maintenance Reserves. 26 5.5 Payments.........................................................26 5.6 Withholding......................................................27 5.7 General Tax indemnity............................................27 5.8 Sales and Use Taxes..............................................29 5.9 Information......................................................30 5.10 Indemnity Payments to be Made on an After-Tax Basis.............30 5.11
Maintenance Reserves. Lessee shall make payments to Lessor in respect of the Maintenance Reserves in accordance with Appendix 2C, on a monthly basis, within ten (10) days following the last day of each Calendar Month, with the first payment due ten (10) days following the first full Calendar Month of the Lease Term; provided that Lessee’s final payment in respect of Maintenance Reserves shall be made on the Termination Date.
Maintenance Reserves. (check one)
Maintenance Reserves. (i) Lessee shall pay Lessor, as Supplemental Rent for the use of the Aircraft during the Lease Term, within fifteen (15) days following the last day of each calendar month during the Lease Term and on the redelivery date, the following sums ("MAINTENANCE RESERVES"): (A) with respect to each Engine, the sum (the "ENGINE RESERVE AMOUNT") of (x) the amount determined by multiplying the number of Flight Hours of operation of such Engine during the immediately preceding month (irrespective of whether such Engine is installed on the Airframe or any other airframe) by [ ]* Dollars (US$[ ]*) which amount shall be applied toward restoration shop visits (the "SHOP VISIT PORTION") and (y) the amount determined by multiplying the number of Cycles of operation of such Engine during the immediately preceding month (irrespective of whether such Engine is installed on the Airframe or any other airframe) by [ ]* Dollars (US$[ ]*) which amount shall be applied toward the cost of life-limited parts (the "LLP Portion"), and (B) with respect to the Airframe, the amount (the "AIRFRAME RESERVE AMOUNT") determined by multiplying the number of Flight Hours of operation of the Airframe during such month by [ ]* Dollars (US$[ ]*). It is the intent of the parties hereto that the Aircraft and Engines be operated during the Lease Term at an average Flight Hour/Cycle ratio (the "Ratio") of [ ]* Flight Hours to one Cycle ([ ]*:1). During any calendar year during the Lease Term, the total Engine Flight Hours for each Engine recorded in respect of the previous twelve months shall be compared with the Cycles flown for such Engine and the Ratio computed. The rate payable by way of maintenance reserve in respect of each complete Flight Hour (pro rata for part thereof) for such Engine applicable with respect to the Shop Visit Portion of the Engine Reserve Amount due from Lessee after such annual Ratio computation and prior to the next annual Ratio computation shall be as provided in EXHIBIT G hereof for such Ratio. Any excess Maintenance Reserves remaining at the expiration of the Lease Term or earlier termination of this Lease shall be retained by Lessor.
(ii) Lessee shall be entitled to reimbursement from the Shop Visit Portion of the Engine Reserve Amount held for an Engine for Lessee's actual costs (without xxxx-up) incurred with respect to heavy maintenance of such Engine requiring a shop visit, excluding any costs associated with replacement of life limited parts and the cost of any repa...
Maintenance Reserves. 33 10.1 Amount...............................................................33 10.2 Payments.............................................................33 10.3 Adjustment...........................................................33 10.4
Maintenance Reserves. Sublessee will pay to Sublessor Maintenance Reserves in accordance with Clause 9 as Supplemental Rent, based on Sublessee's use of the Aircraft during the Sublease Term.
Maintenance Reserves. The Administrative Agent shall have received evidence that the Maintenance Reserve Account shall have been funded in an amount equal to the Maintenance Reserves Required Amount for all Funded Aircraft less the aggregate available amount under each Maintenance Reserves Eligible Letter of Credit.
Maintenance Reserves. 21 7.5 Supplemental Rent for Excess Cycles.........................22 8.
Maintenance Reserves. The company has to pay monthly reserves for scheduled maintenance items in addition to the annual airframe (engines, disks, landing gear, etc) for the leased aircraft. Overhaul Reserves for the year ending June 30, 2009 is expected to be $828K, a slight decrease over the budgeted results for 2007/8 of $1,026k. This is driven by the schedule and better negotiated monthly reserve rates.
Maintenance Reserves. Sublessee shall during the Sublease Term pay the following Maintenance Reserves to Sublessor:
(i) Airframe Maintenance Reserve US$ (*) for each Flight Hour that the Airframe is operated
(ii) Engine Maintenance Reserve, Refurbishment and LLP's US$ (*)for each Flight Hour that each Engine is operated
(iii) Landing Gear Maintenance Reserve US$(*)for each Flight Hour that the Aircraft is operated
(iv) APU Maintenance Reserve US$ (*) for each Flight Hour that the APU is operated. The amounts payable by Sublessee to the Maintenance Reserves as set out herein shall be subject to annual escalation of (*)% on each anniversary date of the first day of the Sublease Term and are also subject to upward or downward adjustment where the hour to cycle ratio changes from that assumed.