NOISE ATTENUATION MODIFICATION Sample Clauses

NOISE ATTENUATION MODIFICATION. If Lessee is required by law to meet Stage III noise requirements, then with at least nine months' written notice from Lessee, Lessor will finance the cost of purchasing one ship set of Hush Kits to be installed on the Aircraft. The Basic Rent thereafter shall be increased by an amount required to fully amortize the cost of the modification in equal monthly installments over the greater of (a) forty-eight months or (b) the remaining term of the Lease (as it may be extended) up to a maximum term of sixty months. In the event the remaining term of the Lease is less than forty-eight months, Lessee (at its sole option) may extend the Lease term for up to one year. If at any time during the Lease term, the installation of Hush Kits is required by law, Lessee (at its sole option) may terminate the Lease upon payment of the present value of the remaining lease payments and compliance with all Return Conditions set forth in Section 6 hereof. Upon the termination of the Lease, Lessee may at Lessee's option remove and retain the Hush Kits. In the event Lessee has not fully amortized the cost of the Hush Kits as set forth above, upon the termination of the Lease, Lessee will pay to Lessor the remaining unamortized cost of the Hush Kits.