NOTICE AND ELECTION. (a) Upon the occurrence of an Event of Loss with respect to the Airframe, and any Engine or Engines installed thereon at the time of such Event of Loss, Lessee shall promptly (and in any event within 15 days after such occurrence) give Lessor and Mortgagee written notice of such Event of Loss. Within 45 days after such occurrence, Lessee shall give Lessor and Mortgagee written notice of Lessee's election to make payment in respect of such Event of Loss, as provided in Section 10.1.2, or to replace the Airframe, and any such Engines, as provided in Section 10.1.3.
(b) Any failure by Lessee to give such notice of its election shall be deemed to be an election of the option set forth in Section 10.1.
NOTICE AND ELECTION. (a) Upon the occurrence of an Event of Loss with respect to the Airframe, and any Engine or Engines installed thereon at the time of such Event of Loss, Lessee shall promptly (and in any event within 15 days after such occurrence) give Lessor and Mortgagee written notice of such Event of Loss. Within 60 days after such occurrence, Lessee shall give Lessor and Mortgagee written notice of Lessee's election to make payment in respect of such Event of Loss, as provided in Section 10.1.2, or to replace the Airframe, and any such Engines, as provided in Section 10.1.3.
(b) Any failure by Lessee to give such notice of its election shall be deemed to be an election of the option set forth in Section 10.1.2.
(c) For purposes of Section 10.1.2, an Event of Loss with respect to the Airframe shall be deemed to constitute an Event of Loss with respect to the Aircraft. For purposes of Section 10.1.3, any Engine not actually suffering an Event of Loss shall not be required to be replaced.
(d) Notwithstanding the foregoing, if (i) an Event of Default has occurred and is continuing or (ii) if a Lease Event of Default under Section 14.5 has occurred and is continuing, Lessee shall be required to make payment in respect of such Event of Loss pursuant to Section 10.1.2.
NOTICE AND ELECTION. (a) If an Event of Loss to the Airframe (and any Engine(s) installed thereon) occurs, Lessee shall promptly (and in any event within 15 days after such occurrence) notify Lessor and Owner Participant of such Event of Loss. Within 60 days after such occurrence, Lessee shall give to Lessor (with a copy to Owner Participant) written notice of Lessee's election to make payment in respect of such Event of Loss, as provided in ss. 10.1.2, or to replace the Airframe and any such Engine(s) as provided in ss.
(b) Lessee's failure to give the notice of election described in ss. 10.1.1
(a) shall be deemed to be an election of the option set forth in ss.
NOTICE AND ELECTION. If Asia Leader exercises the Buyout Option, it shall provide notice in writing to such effect to RAD in accordance with Section 10.5. In the event such exercise of the Buyout Option is to be effected simultaneously with the acquisition of Asia Leader by Shanghai Century Acquisition Corporation (“Shanghai”), the closing of the Buyout Option shall take place concurrently with the closing of the acquisition of Asia Leader by Shanghai and no notice shall be required under this Section 5.3.2.
NOTICE AND ELECTION. (a) If an Event of Loss to the Airframe (and any Engine(s) installed thereon) occurs, Lessee shall promptly (and in any event within 15 days after such occurrence, or, if later, within 15 days after the determination that an Event of Loss has occurred) notify Lessor and Owner Participant of such Event of Loss. Within 45 days after such occurrence or determination, Lessee shall give to Lessor and Owner Participant written notice of Lessee’s election to make payment in respect of such Event of Loss, as provided in § 9.1.2, or to replace the Airframe and any such Engine(s) as provided in § 9.1.3.
(b) Lessee’s failure to give the notice of election described in § 9.1.1(a) shall be deemed to be an election of the option set forth in § 9.1.2. In addition, Lessee shall not be entitled to elect the option set forth in § 9.1.3 if, at the time Lessor or Owner Participant receives such notice from Lessee, a Special Default exists.
(c) For purposes of § 9.1.2, an Event of Loss to the Airframe shall be deemed to constitute an Event of Loss to the Aircraft. For purposes of § 9.1.3, any Engine not actually suffering an Event of Loss shall not be required to be replaced.
(d) If insurance proceeds are received, with respect to any Event of Loss, at any time prior to (1) the date of Lessee’s election, pursuant to
1. Any amounts paid to Lessor pursuant to this paragraph shall be credited against any amounts subsequently payable to Lessor under § 9.1.2(a) or § 9.1.3(c), whichever is applicable.
NOTICE AND ELECTION. 34 10.1.2 Payment of Loss and Termination of Lease.......... 35 10.1.3 Replacement of Airframe and Engines............... 37 10.2 Event of Loss With Respect to an Engine.................. 38 10.2.1 Notice............................................ 38 10.2.2 Replacement of Engine............................. 38 10.3 Conditions to any Replacement............................ 38 10.3.1 Documents......................................... 38 10.3.2 Other Conditions.................................. 41 10.3.3
NOTICE AND ELECTION. Upon the occurrence of an Event of Loss with respect to the Airframe, and any Engine or Engines installed thereon at the time of such Event of Loss, Lessee shall promptly (and in any event within 10 days after such occurrence) give Lessor, Mortgagee and Owner Participant written notice of such Event of Loss. Within 20 days after such occurrence, Lessee shall give Lessor, Mortgagee and Owner Participant written notice of Lessee's election to make payment in respect of such Event of Loss, as provided in Section 10.1.2 (which notice shall specify the date, which shall be the first Business Day occurring 25 days after the date of such notice, on which such payment shall be made), or to replace the Airframe, and any such Engines, as provided in Section 10.1.3. LEASE AGREEMENT SPECIAL PAGE 34 750
NOTICE AND ELECTION. (a) If an Event of Loss to the Airframe (and any Engine(s) installed thereon) occurs, Lessee shall promptly (and in any event within 10 days after such occurrence, or, if later, within 10 days after the determination that an Event of Loss has occurred) notify Lessor and Mortgagee of such Event of Loss. Within 45 days after such occurrence, Lessee shall give to Lessor and Mortgagee written notice of Lessee's election to make payment in respect of
(b) Lessee's failure to give the notice of election described in (S) 10.1.1
(a) shall be deemed to be an election of the option set forth in (S) 10.
NOTICE AND ELECTION. (a) Upon the occurrence of an Event of Loss with respect to the Airframe, and any Engine or Engines installed thereon at the time of such Event of Loss, Lessee shall promptly (and in any event within 15 days after such occurrence) give Lessor and Mortgagee written notice of such Event of Loss. Within 45 days after such occurrence, Lessee shall give Lessor and Mortgagee written notice of Lessee's election to make payment in respect of such Event of Loss, as provided in Section 10.1.2, or to replace the Airframe, and any such Engines, as provided in Section 10.1.3; PROVIDED, HOWEVER, that Lessee shall not be able to elect to replace the Airframe without prior written consent of the Owner Participant if such Event of Loss has occurred after the 485th day prior to the end of the Base Lease Term.
(b) Any failure by Lessee to give such notice of its election shall be deemed to be an election of the option set forth in Section 10.1.
NOTICE AND ELECTION. A. Notice The Company must provide a Contract Owner written notice within the 30 to 90 day period before the date benefits are to begin. Such written notice shall explain:
1. The terms and conditions of the automatic forms of benefits, the alternative forms of benefits that the Contract Owner can choose, and information about the relative values of each form of benefits; 2. The Contract Owner's right to waive the automatic form of benefit and the effect of such waiver; 3. The rights of the Contract Owner's spouse regarding a waiver; and 4. The Contract Owner's right to revoke such waiver and the effect of such revocation.
B. Election A Contract Owner may elect a form of benefit other than the automatic form in writing at any time during the 90 day period which ends on the date on which payments are to begin; provided, however, that no election can be made earlier than the date the Contract Owner receives the notice described in Subsection A above. If the married Contract Owner, after receiving the notice described above in Subsection A, elects one of the available forms of distribution and the Contract Owner's spouse consents to the form of distribution (if necessary), payments may begin before the end of the 30 day period after the notice was given to the Contract Owner, as long as
(A) the Contract Owner has been advised of his right to a 30 day period to consider whether to waive the automatic form of benefit and consent to a form of distribution other than the automatic form of benefit;
(B) payments do not begin to be paid to the Contract Owner until after the Contract Owner receives the notice;
(C) payments do not begin before 7 days have elapsed after the notice is provided to the Contract Owner; and
(D) the Contract Owner may revoke the election of a form of payment until the end of the 7 day period described in (C) or the date payments begin, if later. Spousal Consent Requirement A Contract Owner will automatically receive a Qualified Joint and 50% Survivor Annuity unless the Company is satisfied that he or she is not married on the date benefit payments are to begin. The Contract Owner may elect an alternate form of benefit only if:
(A) the Contract Owner's spouse (or the spouse's legal guardian) consents in writing that he or she consents to the Contract Owner's election to waive the Qualified Joint and 50% Survivor Annuity; to the specific alternative form elected by the Contract Owner, or to the Contract Owner's right to choose any alternative f...
