Common use of Option to Terminate Clause in Contracts

Option to Terminate. So long as no Event of Default shall have occurred and be continuing, the Lessee shall have the right, at its option, on any Termination Date, on no more than 180 days' and at least 90 days' irrevocable (except as provided herein) prior written notice (which notice shall state the Proposed Termination Date) to the Lessor and the Owner Participant to terminate this Lease as of a Termination Date if the Aircraft shall have become obsolete or surplus to the operations of the Lessee; provided that the Lessee shall have furnished to the Lessor, the Indenture Trustee and the Owner Participant a certificate of the Lessee's President, Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Treasurer or Assistant Treasurer stating the determination of the Lessee that the Aircraft is obsolete or surplus to its needs. Unless the Lessor has elected to retain the Aircraft as herein provided, the Lessee shall have the right on one occasion to revoke its notice of termination no later than the Business Day prior to the date 15 days prior to the Proposed Termination Date whereupon this Lease shall continue in full force and effect.

Option to Terminate. So long as no Event of Default shall have occurred and be continuing, the Lessee shall have the right, at its option, on any Termination Date, on no more than 180 days' and at least 90 days' irrevocable (except as provided herein) prior written notice (which notice shall state the proposed Termination Date (the "Proposed Termination Date")) to the Lessor and the Owner Participant to terminate this Lease as of a Termination Date if the Aircraft shall have become obsolete or surplus to the operations of the Lessee; provided that the Lessee shall have furnished to the Lessor, the Indenture Trustee and the Owner Participant a certificate of the Lessee's President, Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Treasurer or Assistant Treasurer stating the determination of the Lessee that the Aircraft is obsolete or surplus to its needs. Unless the Lessor has elected to retain the Aircraft as herein provided, the Lessee shall have the right on one occasion to revoke its notice of termination no later than the Business Day prior to the date 15 days prior to the Proposed Termination Date whereupon this Lease shall continue in full force and effecteffect and the Lessee shall reimburse the Owner Participant for reasonable costs and expenses incurred by the Owner Participant in connection with such proposed termination.

Option to Terminate. So long as no Event of Default shall have occurred and be continuing, the Lessee shall have the right, at its option, on any Termination Date, on no more than 180 days' and at least 90 days' irrevocable (except as provided herein) prior written notice (which notice shall state the proposed Termination Date (the "Proposed Termination Date")) to the Lessor and the Owner Participant Participant, to terminate this Lease as of a Termination Date if the Aircraft shall have become obsolete or surplus to the operations of the Lessee; provided that the Lessee shall have furnished to the Lessor, the Indenture Trustee and the Owner Participant a certificate of the Lessee's President, Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Assistant Treasurer or Assistant Treasurer more senior financial officer stating the determination of the Lessee that the Aircraft is obsolete or surplus to its needs. Unless the Lessor has elected to retain the Aircraft as herein provided, the Lessee shall have the right on one occasion to revoke its notice of termination no later than the Business Day prior to the date 15 days prior to the Proposed Termination Date whereupon this Lease shall continue in full force and effecteffect provided however, the Lessee may not give more than three (3) additional termination notices pursuant to this Section 10.01.

Option to Terminate. So long as no Event of Default shall have occurred and be continuing, the Lessee shall have the right, at its option, on any Termination Date, on no more than 180 days' and at least 90 days' irrevocable (except as provided herein) prior written notice (which notice shall state the proposed Termination Date (the "Proposed Termination Date")) to the Lessor and the Owner Participant to terminate this Lease as of a Termination Date if the Aircraft shall have become obsolete or surplus to the operations of the Lessee; provided that the Lessee shall have furnished to the Lessor, the Indenture Trustee and the Owner Participant a certificate of the Lessee's President, Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Treasurer or Assistant Treasurer stating the determination of the Lessee that the Aircraft is obsolete or surplus to its needs. Unless the Lessor has elected to retain the Aircraft as herein provided, the Lessee shall have the right on one occasion no more than two occasions to revoke its notice of termination no later than the Business Day prior to the date day that is 15 days prior to the Proposed Termination Date whereupon this Lease shall continue in full force and effect. The Lessee shall reimburse any reasonable expenses incurred by the Owner Participant in connection with any proposed termination whether or not revoked.

Option to Terminate. So long as no Event of Default shall have occurred and be continuing, the Lessee shall have the right, at its option, on any Termination Date, on no more than 180 at least 120 days' and at least 90 days' irrevocable (except as provided herein) prior written notice (which notice shall state the proposed Termination Date (the "Proposed Termination Date")) to the Lessor and the Owner Participant Participant, to terminate this Lease as of a Termination Date if the Aircraft shall have become obsolete or surplus to the operations of the Lessee; provided that the Lessee shall have furnished to the Lessor, the Indenture Trustee and the Owner Participant a certificate of the Lessee's President, Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Assistant Treasurer or Assistant Treasurer more senior financial officer stating the determination of the Lessee that the Aircraft is obsolete or surplus to its needs. Unless the Lessor has elected to retain the Aircraft as herein provided, the Lessee shall have the right on one occasion to revoke its notice of termination no later than the Business Day prior to the date 15 days prior to the Proposed Termination Date whereupon this Lease shall continue in full force and effecteffect provided however, the Lessee may not give more than two (2) additional termination notices pursuant to this Section 10.01.

Option to Terminate. So long as no Event of Default shall have occurred and be continuing, the Lessee shall have the right, right at its option, any time on any Termination Date, on no more than 180 days' and at least or after the fifth anniversary of the Commencement Date to elect upon 90 days' irrevocable (except as provided herein) prior written notice (which notice shall state the proposed Termination Date (the "Proposed Termination Date")) to the Lessor and the Owner Participant to terminate this Lease as of on a Termination Date if the Aircraft shall have become obsolete or surplus to the operations of the Lessee; provided that the Lessee shall have furnished to the Lessor, the Indenture Trustee and the Owner Participant a certificate of the Lessee's President, Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Assistant Treasurer or Assistant Treasurer more senior financial officer stating the determination of the Lessee that the Aircraft is obsolete or surplus to its needs. Unless the Lessor has elected to retain the Aircraft as herein provided, the Lessee shall have the right on one occasion to revoke its notice of termination no later not less than the Business Day prior to the date 15 ten (10) days prior to the Proposed Termination Date whereupon this Lease shall continue in full force and effecteffect provided however, the Lessee may not give more than three (3) additional termination notices pursuant to this Section 10.01.

Option to Terminate. So long as no Event of Default shall have occurred and be continuingexists, the Lessee shall have the right, at its option, on any Termination Date, on no more than 180 days' and at least 90 days' irrevocable (except as provided herein) prior written notice (which notice shall state the Proposed Termination Date) to the Lessor and the Owner Participant to terminate this Lease as of a Termination Date if the Aircraft shall have become obsolete or surplus to the operations of the Lessee; provided that the Lessee shall have furnished to the Lessor, the Indenture Trustee and the Owner Participant a certificate of the Lessee's President, Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Treasurer or Assistant Treasurer stating the good faith determination of the Lessee that the Aircraft is obsolete or surplus to its needs. Unless the Lessor has elected to retain the Aircraft as herein provided, the Lessee shall have the right right, on one occasion not more than two occasions, to revoke its notice of termination no later not less than the Business Day prior to the date 15 ten days prior to the Proposed Termination Date whereupon this Lease shall continue in full force and effecteffect and the Lessee shall reimburse the Lessor for reasonable costs and expenses incurred by the Owner Participant in connection with such proposed termination.

Option to Terminate. So long as no Event of Default shall have occurred and be continuing, the Lessee shall have the right, at its option, on any Termination Date, on no more than 180 days' and at least 90 days' irrevocable (except as provided herein) prior written notice (which notice shall state the proposed Termination Date (the "Proposed Termination Date")) to the Lessor and the Owner Participant Participant, to terminate this Lease as of a Termination Date if the Aircraft shall have become obsolete or surplus to the operations of the Lessee; provided that the Lessee shall have furnished to the Lessor, the Indenture Trustee and the Owner Participant a certificate of the Lessee's President, Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Assistant Treasurer or Assistant Treasurer more senior financial officer stating the determination of the Lessee that the Aircraft is obsolete or surplus to its needs. Unless the Lessor has elected to retain the Aircraft as herein provided, the Lessee shall have the right on one occasion to revoke its notice of termination no later not less than the Business Day prior to the date 15 ten (10) days prior to the Proposed Termination Date whereupon this Lease shall continue in full force and effecteffect provided however, the Lessee may not give more than three (3) additional termination notices pursuant to this Section 10.01.

Option to Terminate. So long as no Event of Default shall have occurred and be continuing, the Lessee shall have the right, at its option, on any Termination Date, on no more than 180 at least 120 days' and at least 90 days' irrevocable (except as provided herein) prior written notice (which notice shall state the Proposed Termination Date) to the Lessor and the Owner Participant to terminate this Lease as of a Termination Date if the Aircraft shall have become obsolete or surplus to the operations of the Lessee; provided that the Lessee shall have furnished to the Lessor, the Indenture Trustee and the Owner Participant a certificate of the Lessee's President, Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Treasurer or Assistant Treasurer stating the determination of the Lessee that the Aircraft is obsolete or surplus to its needs. Unless the Lessor has elected to retain the Aircraft as herein provided, the Lessee shall on no more than three occasions have the right on one occasion to revoke its notice of termination no later not less than the Business Day prior to the date 15 fifteen (15) days prior to the Proposed Termination Date whereupon this Lease shall continue in full force and effect; provided that the Lessee may not revoke its notice if a cash bid which is for an amount greater than or equal to Termination Value has been submitted for the purchase of the Aircraft.