Common use of Owner Participant's Indemnity Clause in Contracts

Owner Participant's Indemnity. Owner Participant covenants and agrees that if (i) Lessee has elected pursuant to Section 9.1 of the Lease to terminate the Lease by causing the Aircraft to be sold pursuant to Section 9.2 of the Lease and (ii) Owner Trustee has, pursuant to Section 9.3 of the Lease, given to Lessee written notice of Lessor's election to retain title to the Aircraft, and (iii) Owner Trustee has failed to make, on or before the proposed termination date, any payment required to be made by Owner Trustee pursuant to Section 9.3 in connection with its retention of title to the Aircraft, Owner Participant will indemnify Lessee for any losses, damages, costs or expenses of any kind (including any excess of the highest bid received on or before the proposed termination date from a Person that is not a Prohibited Person over the price for which the Aircraft may subsequently be sold (but disregarding any portion of such bid or such price in excess of the applicable Termination Value), any additional Rent paid by Lessee (less an amount representing the fair value to Lessee of its use of the Aircraft for the period of time in respect of which such Rent was paid) and any reasonable fees and expenses of lawyers, appraisers, brokers or accountants) incurred as a consequence of such failure by Owner Trustee.

Owner Participant's Indemnity. Owner Participant covenants and agrees that if (i) Lessee has elected pursuant to Section 9.1 of the Lease to terminate the Lease by causing the Aircraft to be sold pursuant to Section 9.2 of the Lease and (ii) Owner Trustee has, pursuant to Section 9.3 of the Lease, given to Lessee written notice of Lessor's election to retain title to the Aircraft, and (iii) Owner Trustee has failed to make, on or before the proposed termination date, any payment required to be made by Owner Trustee pursuant to Section 9.3 in connection with its retention of title to the Aircraft, Owner Participant will indemnify Lessee for any losses, damages, costs or expenses of any kind (including any excess of the highest bid received on or before the proposed termination date from a Person that is not a Prohibited Person over the price for which the Aircraft may subsequently be sold (but disregarding any portion of such bid or such price in excess of the applicable Termination Value), any additional Rent paid by Lessee (less an amount representing the fair value to Lessee of its use of the Aircraft for the period of time in respect of which such Rent was paid) and any reasonable fees and expenses of lawyers, appraisers, brokers or accountants) incurred as a consequence of such failure by Owner Trustee.

Owner Participant's Indemnity. Owner Participant covenants and agrees that if (i) Lessee has elected pursuant to Section 9.1 of the Lease to terminate the Lease by causing the Aircraft to be sold pursuant to Section 9.2 of the Lease and (ii) Owner Trustee has, pursuant to Section 9.3 of the Lease, given to Lessee written notice of Lessor's election to retain title to the Aircraft, and (iii) Owner Trustee has failed to make, on or before the proposed termination date, any payment required to be made by Owner Trustee pursuant to Section 9.3 in connection with its retention of title to the Aircraft, Owner Participant will indemnify Lessee for any losses, damages, costs or expenses of any kind (including any excess of the highest bid received on or before the proposed termination date from a Person that is not a Prohibited Person over the price for which the Aircraft may subsequently be sold (but disregarding any portion of such bid or such price in excess of the applicable Termination Value), any additional Rent paid by Lessee (less an amount representing the fair value to Lessee of its use of the Aircraft for the period of time in respect of which such Rent was paid) and any reasonable PARTICIPATION AGREEMENT [N602SW] -27- 33 fees and expenses of lawyers, appraisers, brokers or accountants) incurred as a consequence of such failure by Owner Trustee.

Owner Participant's Indemnity. Owner Participant covenants and agrees that if (i) Lessee has elected pursuant to Section 9.1 of the Lease to terminate the Lease by causing the Aircraft to be sold pursuant to Section 9.2 of the Lease and (ii) Owner Trustee has, pursuant to Section 9.3 of the Lease, given to Lessee written notice of Lessor's election to retain title to the Aircraft, and (iii) Owner Trustee has failed to make, on or before the proposed termination date, any payment required to be made by Owner Trustee pursuant to Section 9.3 in connection with its retention of title to the Aircraft, Owner Participant will indemnify Lessee for any losses, damages, costs or expenses of any kind (including any excess of the highest bid received in accordance with Section 9.1 of the Lease on or before the proposed termination date from a Person that is not a Prohibited Person over the price for which the Aircraft may subsequently be sold (but disregarding any portion of such bid or such price in excess of the applicable Termination Value), any additional Rent paid by Lessee (less an amount representing the fair value to Lessee of its use of the Aircraft for the period of time in respect of which such Rent was paid) and any reasonable fees and expenses of lawyers, appraisers, brokers or accountants) incurred as a consequence of such failure by Owner Trustee.

Owner Participant's Indemnity. Owner Participant covenants and agrees that if (i) Lessee has elected pursuant to Section 9.1 of the Lease to terminate the Lease by causing the Aircraft to be sold pursuant to Section 9.2 of the Lease and (ii) Owner Trustee has, pursuant to Section 9.3 of the Lease, given to Lessee written notice of Lessor's election to retain title to the Aircraft, and (iii) Owner Trustee has failed to make, on or before the proposed termination date, any payment required to be made by Owner Trustee pursuant to Section 9.3 in connection with its retention of title to the Aircraft, Owner Participant will indemnify Lessee for any losses, damages, costs or expenses of any kind (including any excess of the highest bid received on or before the proposed termination date from a Person that is not a Prohibited Person over the price for which the Aircraft may subsequently be sold (but disregarding any portion of such bid or such price in excess of the applicable Termination Value), any additional Rent paid by Lessee (less an amount representing the fair value to Lessee of its use of the Aircraft for the period of time in respect of which such Rent was paid) and any reasonable PARTICIPATION AGREEMENT [N603SW] -27- 33 fees and expenses of lawyers, appraisers, brokers or accountants) incurred as a consequence of such failure by Owner Trustee.