Common use of Notice of Exercise of Option Clause in Contracts

Notice of Exercise of Option. The Lessee's right to purchase provided for in clause (B) or (C) of Section 13(b)(i) shall be exercised upon written notice to the Lessor not less than 180 days nor more than 365 days before the applicable date of purchase provided in such clause (B) or (C) as the case may be. Such notice shall be irrevocable, except that where the purchase price is or may be measured by the Fair Market Sales Value of the Aircraft the Lessee may revoke its exercise of an option to purchase the Aircraft within 15 days following the determination of such Fair Market Sales Value, but in no event later than 180 days prior to the applicable date of purchase provided in such clause (B) or (C), as the case may be. The Lessee's right to purchase provided for in clause (A) of Section 13(b)(i) shall be exercised upon written notice to the Lessor not less than 90 days nor more than 365 days before the EBO Date and shall be irrevocable when given.

Notice of Exercise of Option. The Lessee's right to purchase provided for in clause (B) or (C) of Section 13(b)(i) shall be exercised upon written notice to the Lessor not less than 180 days nor more than 365 days before the applicable date of purchase provided in such clause (B) or (C) as the case may be. Such notice shall be irrevocable, except that where the purchase price is or may be measured by the Fair Market Sales Value of the Aircraft the Lessee may revoke its exercise of an option to purchase the Aircraft within 15 days following the determination of such Fair Market Sales Value, but in no event later than 180 90 days prior to the applicable date of purchase provided in such clause (B) or (C), as the case may be. The Lessee's right to purchase provided for in clause (A) of Section 13(b)(i) shall be exercised upon written notice to the Lessor not less than 90 days nor more than 365 30 days before the EBO Date and shall be irrevocable when given.

Notice of Exercise of Option. The Lessee's right to purchase provided for in clause (B) or (C) of Section 13(b)(i) shall be exercised upon written notice to the Lessor not less than 180 days nor more than 365 days before the applicable date of purchase provided in such clause (B) or (C) as the case may be. Such notice shall be irrevocable, except that where the purchase price is or may be measured by the Fair Market Sales Value of the Aircraft the Lessee may revoke its exercise of an option to purchase the Aircraft within 15 days following the determination of such Fair Market Sales Value, but in no event later than 180 days prior to the applicable date of purchase provided in such clause (B) or (C), as the -43- case may be. The Lessee's right to purchase provided for in clause (A) of Section 13(b)(i) shall be exercised upon written notice to the Lessor not less than 90 days nor more than 365 days before the EBO Date and shall be irrevocable when given.

Notice of Exercise of Option. The Lessee's right to purchase provided for in clause (B) or (C) of Section 13(b)(i) shall be exercised upon written notice to the Lessor not less than 180 days nor more than 365 120 days before the applicable date of purchase provided in such clause (B) or (C) as the case may be. Such notice shall be irrevocable, except that where the purchase price is or may be measured by the Fair Market Sales Value of the Aircraft the Lessee may revoke its exercise of an option to purchase the Aircraft within 15 days following the determination of such Fair Market Sales Value, but in no event later than 180 120 days prior to the applicable date of purchase provided in such clause (B) or (C), as the case may be. The Lessee's right to purchase provided for in clause (A) of Section 13(b)(i) shall be exercised upon written notice to the Lessor not less than 90 days nor more than 365 days before the EBO Date and shall be irrevocable when given.