Common use of Operating Budget; Aircraft Asset Expenses Budget Clause in Contracts

Operating Budget; Aircraft Asset Expenses Budget. (a) AerCo, on behalf of AerCo Group, shall adopt with respect to the Initial Periods, each one Year period (a "ONE YEAR PERIOD") and each three Year period (a "THREE YEAR PERIOD" and, together with a One Year Period, each a "PERIOD") during the term of this Agreement, the following projected budgets which are to be prepared by the Administrative Agent on behalf of AerCo.: (i) a separate lease operating budget with respect to the Aircraft Assets distinguishing between cash and non-cash items (an "OPERATING BUDGET"); and (ii) a separate budget with respect to Aircraft Asset Expenses related to the Aircraft Assets distinguishing between cash and non-cash items (an "ASSET EXPENSES BUDGET"). (b) The initial Operating Budget for the period from the Closing Date through March 31, 2001 (the "ONE YEAR INITIAL PERIOD") and through March 31, 2003 (the "THREE YEAR INITIAL PERIOD" and, together with the One Year Initial Period, the "INITIAL PERIODS"), and the initial Asset Expenses Budget for the One Year Initial Period and the Three Year Initial Period shall be substantially in the forms attached hereto as Schedule 7.04(b)(1) and Schedule 7.04(b)(2) (the "INITIAL APPROVED BUDGETS"). The format for the Operating Budget and Asset Expenses Budget for future Years may be modified by AerCo with the consent of the Servicer, which consent shall not be unreasonably withheld.

Operating Budget; Aircraft Asset Expenses Budget. (a) AerCo, on behalf of AerCo Group, shall adopt with respect to the Initial Periods, each one Year period (a "ONE YEAR PERIOD") and each three Year period (a "THREE YEAR PERIOD" and, together with a One Year Period, each a "PERIOD") during the term of this Agreement, the following projected proposed budgets which are to be prepared by the Administrative Agent on behalf of AerCo.: (i) a separate lease operating budget with respect to the Aircraft Assets distinguishing between cash and non-cash items (an "OPERATING BUDGET"); and (ii) a separate budget with respect to Aircraft Asset Expenses related to the Aircraft Assets distinguishing between cash and non-cash items (an "ASSET EXPENSES BUDGET"). (b) The initial Operating Budget for the period from the Closing first Delivery Date through March 31June 30, 2001 1999 (the "ONE YEAR INITIAL PERIOD") and through March 31June 30, 2003 2001 (the "THREE YEAR INITIAL PERIOD" and, together with the One Year Initial Period, the "INITIAL PERIODS"), and the initial Asset Expenses Budget for the One Year Initial Period and the Three Year Initial Period shall be substantially in the forms attached hereto as Schedule 7.04(b)(1) and Schedule 7.04(b)(2) ), (the "INITIAL APPROVED BUDGETS"). The format forms for the Operating Budget and Asset Expenses Budget for future Years may be modified by AerCo with the consent of the Servicer, which consent shall not be unreasonably withheld.

Operating Budget; Aircraft Asset Expenses Budget. (a) AerCo, on behalf of AerCo Group, shall adopt with respect to the Initial Periods, each one Year period (a "ONE YEAR PERIOD") and each three Year period (a "THREE YEAR PERIOD" and, together with a One Year Period, each a "PERIOD") during the term of this Agreement, the following projected budgets which are to be prepared by the Administrative Agent on behalf of AerCo.: (i) a separate lease operating budget with respect to the Aircraft Assets distinguishing between cash and non-cash items (an "OPERATING BUDGET"); and (ii) a separate budget with respect to Aircraft Asset Expenses related to the Aircraft Assets distinguishing between cash and non-non- cash items (an "ASSET EXPENSES BUDGET"). (b) The initial Operating Budget for the period of one year from the Closing Start Date through March 31, 2001 (the "ONE YEAR INITIAL PERIOD") and through March 31, 2003 for the three year period thereafter (the "THREE YEAR INITIAL PERIOD" and, together with the One Year Initial Period, the "INITIAL PERIODS"), and the initial Asset Expenses Budget for the One Year Initial Period and the Three Year Initial Period shall be substantially in the forms attached hereto as Schedule 7.04(b)(1) and Schedule 7.04(b)(2) (the "INITIAL APPROVED BUDGETS"). The format for the Operating Budget and Asset Expenses Budget for future Years may be modified by AerCo with the consent of the Servicer, which consent shall not be unreasonably withheld.