Common use of PAYMENT OF LOSS AND TERMINATION OF LEASE Clause in Contracts

PAYMENT OF LOSS AND TERMINATION OF LEASE. (a) If Lessee elects, in accordance with Section 10.1.1, to make payment in respect of any such Event of Loss, then Lessee shall pay, in the manner and in funds of the type specified in Section 3.3, the following amounts: (i) on or before the Business Day next following the earlier of (x) the 120th day following the date of the occurrence of such Event of Loss, and (y) the fourth Business Day following the receipt of insurance proceeds with respect to such occurrence (but in any event not earlier than the date of Lessee's election under Section 10.1.1 to make payment under this Section 10.1.2), Lessee shall pay to Lessor: (1) all unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, due at any time prior to the Stipulated Loss Value Date that is on or immediately preceding the Loss Payment Date; plus (2) the Stipulated Loss Value of the Aircraft computed as of the Stipulated Loss Value Date used in the foregoing clause (1) for the computation of unpaid Rent; plus (3) if the Stipulated Loss Value Date used in the foregoing clause (1) is a Payment Date on which Basic Rent payable in arrears is due, the amount of such Basic Rent; plus (4) as provided in Section 3.2.2, interest on the amount specified in the foregoing clause (1) at the Payment Due Rate from and including the date on which any such amount was due to the date of payment of such amount in full; plus (5) interest on the amounts specified in the foregoing clauses (2) and (3) at the SLV Rate from and including the Stipulated Loss Value Date used in the foregoing clause (1) for the computation of unpaid Rent to the date such amount is due, and thereafter at the Payment Due Rate to the date of payment of such amounts in full; and (ii) on or before the date required for payment of the amounts specified in paragraph (i) above, Lessee shall also pay to Lessor, Mortgagee and the other Participants all other amounts due and payable by Lessee to Lessor, Mortgagee and the other Participants under this Lease, the Participation Agreement or any other Lessee Operative Agreement. (b) Upon payment in full of all amounts described in the foregoing paragraph (a),(i) the obligation of Lessee to pay Interim Rent, Basic Rent or Renewal Rent hereunder with respect to the Aircraft shall terminate, (ii) the Term for the Aircraft shall end and (iii) Lessor will transfer the Aircraft to Lessee, as-is and where-is, and subject to any insurer's salvage rights, but otherwise in the manner described in Section 4.5.

PAYMENT OF LOSS AND TERMINATION OF LEASE. (a) If Lessee elects, in accordance with Section 10.1.1, to make payment in respect of any such an Event of LossLoss with respect to the Aircraft occurs, then Lessee shall pay, in the manner and in funds of the type specified in Section 3.3, the following amounts: (i) on or before the Business Day Stipulated Loss Value Date next following the earlier of (x) the 120th day following the date of the occurrence of such Event of Loss, and (y) the fourth Business Day twentieth day following the receipt of insurance proceeds with respect to such occurrence (but in any event not earlier than the date of Lessee's election under Section 10.1.1 to make payment under this Section 10.1.2)occurrence, Lessee shall pay to Lessor: (1) all unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, due at any time prior to the such Stipulated Loss Value Date that is on or immediately preceding the Loss Payment Date; plus (2) the Stipulated Loss Value of the Aircraft computed as of the such Stipulated Loss Value Date used in the foregoing clause (1) for the computation of unpaid RentDate; plus (3) if the Stipulated Loss Value Date used in the foregoing clause (1) is a Payment Date on which Basic Rent payable in arrears is due, the amount of such Basic Rent; plus (4) as provided in Section 3.2.2, interest on the amount specified in the foregoing clause (1) at the Payment Due Rate from and including the date on which any such amount was due to the date of payment of such amount in full; plus (5) interest on the amounts specified in the foregoing clauses (2) and (3) at the SLV Rate from and including the PROVIDED, that if such Stipulated Loss Value Date used in is a Payment Date, Lessee shall not be obligated to pay the foregoing clause (1) for the computation of unpaid Basic Rent or Renewal Rent otherwise required to the date be paid on such amount is due, and thereafter at the Payment Due Rate to the date of payment of such amounts in full; anddate. (ii) on or before the date required for payment of the amounts specified in paragraph (i) above, Lessee shall also pay to Lessor, Mortgagee and the other Participants all other amounts due and payable by Lessee to Lessor, Mortgagee and the other Participants under this Lease, the Participation Agreement or any other Lessee Operative Agreement. (b) Upon payment in full of all amounts described in the foregoing paragraph (a),(i) the obligation of Lessee to pay Interim Rent, Basic Rent or Renewal Rent hereunder with respect to the Aircraft shall terminate, (ii) the Term for the Aircraft shall end and (iii) Lessor will transfer the Aircraft to Lessee, as-is and where-is, and subject to any insurer's salvage rights, but otherwise in the manner described in Section 4.5.

PAYMENT OF LOSS AND TERMINATION OF LEASE. (a) If Lessee elects, in accordance with Section 10.1.1, to make payment in respect of any such Event of Loss, then Lessee shall pay, in the manner and in funds of the type specified in Section 3.3, the following amounts: (i) on or before the Business Day Stipulated Loss Value Date next following the earlier of (x) the 120th day following the date of the occurrence of such Event of Loss, and (y) the fourth Business Day twentieth day following the receipt of insurance proceeds with respect to such occurrence (but in any event not earlier than the date of Lessee's election under Section 10.1.1 to make payment under this Section 10.1.2), Lessee shall pay to Lessor: (1) all unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, due at any time prior to the such Stipulated Loss Value Date that is on or immediately preceding the Loss Payment Date; plus (2) the Stipulated Loss Value of the Aircraft computed as of the such Stipulated Loss Value Date used in the foregoing clause (1) for the computation of unpaid RentDate; plus (3) if the Stipulated Loss Value Date used in the foregoing clause (1) is a Payment Date on which Basic Rent payable in arrears is due, the amount of such Basic Rent; plus (4) as provided in Section 3.2.2, interest on the amount specified in the foregoing clause (1) at the Payment Due Rate from and including the date on which any such amount was due to the date of payment of such amount in full; plus (5) interest on the amounts specified in the foregoing clauses (2) and (3) at the SLV Rate from and including the PROVIDED, that if such Stipulated Loss Value Date used in is a Payment Date, Lessee shall not be obligated to pay the foregoing clause (1) for the computation of unpaid Basic Rent or Renewal Rent otherwise required to the date be paid on such amount is due, and thereafter at the Payment Due Rate to the date of payment of such amounts in fulldate; and (ii) on or before the date required for payment of the amounts specified in paragraph (i) above, Lessee shall also pay to Lessor, Mortgagee and the other Participants all other amounts due and payable by Lessee to Lessor, Mortgagee and the other Participants under this Lease, the Participation Agreement or any other Lessee Operative Agreement. (b) Upon payment in full of all amounts described in the foregoing paragraph (a),(i) the obligation of Lessee to pay Interim Rent, Basic Rent or Renewal Rent hereunder with respect to the Aircraft shall terminate, (ii) the Term for the Aircraft shall end and (iii) Lessor will transfer the Aircraft to Lessee, as-is and where-is, and subject to any insurer's salvage rights, but otherwise in the manner described in Section 4.5.

PAYMENT OF LOSS AND TERMINATION OF LEASE. (a) If Lessee elects, in accordance with Section 10.1.1, to make payment in respect of any such Event of Loss, then Lessee shall pay, in the manner and in funds of the type specified in Section 3.3, the following amounts: (i) on or before the Business Day next following the earlier of (x) the 120th first Business Day following the 180th day following after the date of the occurrence of such Event of Loss, and (y) the fourth Business Day following specified by Lessee as the receipt of insurance proceeds with respect payment date in an irrevocable notice delivered by Lessee to the applicable Lessor and Mortgagee not less than 20 days prior to such occurrence (but in any event not earlier than the date of Lessee's election under Section 10.1.1 to make payment under this Section 10.1.2)date, Lessee shall pay to LessorLessor an amount equal to the Stipulated Loss Value of the Aircraft as of the Loss Payment Date plus: (1) all any unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, payable in advance and due at any time prior to the Stipulated Loss Value Date that is on or immediately preceding the Loss Payment Date; plus (2) any unpaid Basic Rent or Renewal Rent, as the Stipulated case may be, payable in arrears and due on or before such Loss Value of the Aircraft computed as of the Stipulated Loss Value Date used in the foregoing clause (1) for the computation of unpaid RentPayment Date; plus (3) if all other amounts of Supplemental Rent due on or before the Stipulated Loss Value Date used in the foregoing clause (1) is a Payment Date on which Basic Rent payable (but excluding any Make-Whole Amount) and any reasonable out-of-pocket fees and expenses incurred in arrears is dueconnection with such Event of Loss by Lessor, the amount of such Basic RentOwner Participant or Mortgagee; plus (4) as provided in Section 3.2.2, interest on the amount specified in the foregoing clause (1) at the Payment Due Rate from and including the date on which any such amount was due to the date of payment of such amount in full; plus (5) interest on the amounts specified in the foregoing clauses (2) and (3) at the SLV Rate from and including the Stipulated Loss Value Date used in the foregoing clause (1) for the computation of unpaid Rent to the date such amount is due, and thereafter at the Payment Due Rate to the date of payment of such amounts in full; and (ii) on or before the date required for payment of the amounts specified in paragraph (i) aboveLoss Payment Date, Lessee shall also pay to Lessor, Mortgagee and the other Participants each Participant all other amounts due and payable by Lessee to Lessor, Mortgagee and the other Participants such Participant under this Lease, the Participation Agreement or any other Lessee Operative Agreement. (b) Upon payment in full of all amounts described in the foregoing paragraph (a),(i) the obligation of Lessee to pay Interim Rent, Basic Rent or Renewal Rent hereunder with respect to the Aircraft shall terminate, (ii) the Term for the Aircraft shall end and (iii) Lessor will transfer the Aircraft to Lessee, as-is and where-is, and subject to any insurer's salvage rights, but otherwise in the manner described in Section 4.5.

PAYMENT OF LOSS AND TERMINATION OF LEASE. (a) If Lessee elects, in accordance with Section 10.1.1, to make payment in respect of any such Event of Loss, then Lessee shall pay, in the manner and in funds of the type specified in Section 3.3, the following amounts: (i) on or before the Business Day Stipulated Loss Value Date next following the earlier of (x) the 120th day following the date of the occurrence of such Event of Loss, and (y) the fourth Business Day twentieth day following the receipt of insurance proceeds with respect to such occurrence (but in any event not earlier than the date of Lessee's ’s election under Section 10.1.1 to make payment under this Section 10.1.2), Lessee shall pay to Lessor: (1) all unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, due at any time prior to the such Stipulated Loss Value Date that is on or immediately preceding the Loss Payment Date; plus (2) the Stipulated Loss Value of the Aircraft computed as of the such Stipulated Loss Value Date used in the foregoing clause (1) for the computation of unpaid RentDate; plus (3) if the Stipulated Loss Value Date used in the foregoing clause (1) is a Payment Date on which Basic Rent payable in arrears is due, the amount of such Basic Rent; plus (4) as provided in Section 3.2.2, interest on the amount specified in the foregoing clause (1) at the Payment Due Rate from and including the date on which any such amount was due to the date of payment of such amount in full; plus (5) interest on the amounts specified in the foregoing clauses (2) and (3) at the SLV Rate from and including the provided, that if such Stipulated Loss Value Date used in is a Payment Date, Lessee shall not be obligated to pay the foregoing clause (1) for the computation of unpaid Basic Rent or Renewal Rent otherwise required to the date be paid on such amount is due, and thereafter at the Payment Due Rate to the date of payment of such amounts in fulldate; and (ii) on or before the date required for payment of the amounts specified in paragraph (i) above, Lessee shall also pay to Lessor, Mortgagee and the other Participants all other amounts due and payable by Lessee to Lessor, Mortgagee and the other Participants under this Lease, the Participation Agreement or any other Lessee Operative Agreement. (b) Upon payment in full of all amounts described in the foregoing paragraph (a),(i) the obligation of Lessee to pay Interim Rent, Basic Rent or Renewal Rent hereunder with respect to the Aircraft shall terminate, (ii) the Term for the Aircraft shall end and (iii) Lessor will transfer the Aircraft to Lessee, as-is and where-is, and subject to any insurer's ’s salvage rights, but otherwise in the manner described in Section 4.5.

PAYMENT OF LOSS AND TERMINATION OF LEASE. (a) If Lessee elects, in accordance with Section 10.1.1§ 9.1.1, to make payment in respect of any such Event of Loss, then Lessee shall pay, in the manner and in funds of the type specified in Section § 3.3, on the following amounts: (i) on or before the Business Day SLV Date next following the earlier of (x) the 120th 150th day following the date of the occurrence of such Event of Loss, and (y) the fourth second Business Day following the receipt of the insurance proceeds with respect to such occurrence (but in any event not earlier than the date of Lessee's ’s election under Section 10.1.1 § 9.1.1 to make payment under this Section 10.1.2§ 9.1.2)(such SLV Date, referred to herein as the “SLV Payment Date”), Lessee shall pay to Lessor: (1) all unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, due payable at any time prior to before the Stipulated Loss Value SLV Payment Date (it being understood and agreed that if such SLV Payment Date is on or immediately preceding the Loss also a Payment Date, no Basic Rent shall be payable on and as of such Date); plus (2) the Stipulated Loss Value of the Aircraft computed as of the Stipulated Loss Value Date used in the foregoing clause (1) for the computation of unpaid RentSLV Payment Date; plus (3) if all Transaction Expenses (excluding brokerage commissions and similar expenses payable to any Person not retained by Lessee) incurred by Lessor and Owner Participant in connection with such Event of Loss and the Stipulated Loss Value Date used in related termination of the foregoing clause (1) is a Payment Date on which Basic Rent payable in arrears is due, the amount of such Basic RentLease; plus (4) to the extent not taken into account in the foregoing clauses (2) and (3), all Supplemental Rent due by Lessee to Lessor, Owner Participant or any other Person entitled thereto, and remaining unpaid under the Lease or any other Operative Agreement; plus [**] — Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. (5) as provided in Section 3.2.2§ 3.2.2 of the Lease, interest on the amount amounts specified in the foregoing clause clauses (1) through (4) at the Payment Past-Due Rate from and including the date on which any such amount was due to the date of payment of such amount in full; plus provided, that, (5x) interest if a Payment Date shall occur at any time before the SLV Payment Date, then Lessee shall pay the Basic Rent due on such Payment Date, and (y) if a Payment Date shall occur on the amounts specified in the foregoing clauses (2) and (3) at SLV Payment Date, or on a date occurring after the SLV Rate from and including the Stipulated Loss Value Payment Date used in the foregoing clause (1) for the computation of unpaid Rent to the date such amount is due, and thereafter at the Payment Due Rate to but before the date of payment of such amounts in full; and (ii) on or before the date required for payment of the amounts specified above in paragraph this clause (i) abovea), then Lessee shall also pay to Lessorthe Basic Rent due on such Payment Date, Mortgagee and the other Participants all other thereupon such amounts due and payable by Lessee to Lessor, Mortgagee and the other Participants under this Lease, clause (a) shall be reduced by the Participation Agreement or any other Lessee Operative Agreementamount of such payment of Basic Rent. (b) Upon payment in full of all amounts described in the foregoing paragraph (a),(i) the obligation of Lessee to pay Interim Rent§ 9.1.2(a), Basic Rent or Renewal Rent hereunder with respect to the Aircraft shall terminate, (ii) the Term for the Aircraft shall end end, and (iii) Lessor will transfer the Aircraft to Lessee, as-is and where-is, and subject to any insurer's ’s salvage rights, but otherwise in the manner described in § 4.5 and return any amounts of the Security Deposit being held by Lessor pursuant to § 3.2.3 hereof, together with the cash balance of any Maintenance Reserves held by Lessor pursuant to Section 4.5F of Annex C hereof.

PAYMENT OF LOSS AND TERMINATION OF LEASE. (a) If Lessee elects, in accordance with Section 10.1.1, to make payment in respect of any such Event of Loss, then Lessee shall pay, in the manner and in funds of the type specified in Section 3.3, the following amounts: (i) on or before the Business Day next following the earlier of (x) the 120th day following the date of the occurrence of such Event of Loss, and (y) the fourth Business Day following the receipt of insurance proceeds with respect to such occurrence (but in any event not earlier than the date of Lessee's election under Section 10.1.1 to make payment under this Section 10.1.2), Lessee shall pay to Lessor: (1) all unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, due at any time prior to the Stipulated Loss Value Date that is on or immediately preceding the Loss Payment Date; plus (2) the Stipulated Loss Value of the Aircraft computed as of the Stipulated Loss Value Date used in the foregoing clause (1) for the computation of unpaid Rent; plus (3) if the Stipulated Loss Value Date used in the foregoing clause (1) is a Payment Date on which Basic Rent payable in arrears is due, the amount of such Basic Rent; plus (4) as provided in Section 3.2.2, interest on the amount specified in the foregoing clause (1) at the Payment Due Rate from and including the date on which any such amount was due to the date of payment of such amount in full; plus (5) interest on the amounts specified in the foregoing clauses (2) and (3) at the SLV Rate from and including the Stipulated Loss Value Date used in the foregoing clause (1) for the computation of unpaid Rent to the date such amount is due, and LEASE AGREEMENT BASE PAGE 27 221 thereafter at the Payment Due Rate to the date of payment of such amounts in full; provided that, in the event that the Commencement Date or a Payment Date shall occur (x) on or after the Stipulated Loss Value Date used in the foregoing clause (1) for the computation of unpaid Rent, and (y) on or before the date of payment of the amounts specified above in this subparagraph (i), then Lessee shall pay the Interim Rent, Basic Rent or the Renewal Rent, as the case may be, due on such Commencement Date or Payment Date, and thereupon such amounts payable under this subparagraph (i) shall be reduced by the amount of such payment of Interim Rent, Basic Rent or Renewal Rent, as the case may be; and (ii) on or before the date required for payment of the amounts specified in paragraph (i) above, Lessee shall also pay to Lessor, Mortgagee and the other Participants all other amounts due and payable by Lessee to Lessor, Mortgagee and the other Participants under this Lease, the Participation Agreement or any other Lessee Operative Agreement. (b) Upon payment in full of all amounts described in the foregoing paragraph (a),(i) the obligation of Lessee to pay Interim Rent, Basic Rent or Renewal Rent hereunder with respect to the Aircraft shall terminate, (ii) the Term for the Aircraft shall end and (iii) Lessor will transfer the Aircraft to Lessee, as-is and where-is, and subject to any insurer's salvage rights, but otherwise in the manner described in Section 4.5.

PAYMENT OF LOSS AND TERMINATION OF LEASE. (a) If Lessee elects, in accordance with Section 10.1.1, to make payment in respect of any such Event of Loss, then Lessee shall pay, in the manner and in funds of the type specified in Section 3.3, the following amounts: (i) on or before the Business Day next following the earlier of (x) the 120th 180th day following the date of the occurrence of such Event of Loss, and (y) no later than the fourth third Business Day following the receipt of all insurance proceeds with respect to such occurrence (but in any event not earlier than the date of Lessee's election under Section 10.1.1 to make payment under this Section 10.1.2), Lessee shall pay to Lessor: Lessor an amount equal to the Stipulated Loss Value of the Aircraft as of the Loss Payment Date plus (1a) all unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, payable in advance and due at any time prior to the Stipulated Loss Value Date that is on or immediately preceding the Loss Payment Date; plus , plus (2b) the Stipulated Loss Value of the Aircraft computed as of the Stipulated Loss Value Date used in the foregoing clause (1) for the computation of any unpaid Rent; plus (3) if the Stipulated Loss Value Date used in the foregoing clause (1) is a Payment Date on which Basic Rent or Renewal Rent, as the case may be, payable in arrears is dueand due on or before such Loss Payment Date, plus (c) all other amounts of Supplemental Rent due on or before the Loss Payment Date and any reasonable expenses and costs incurred in connection with such Event of Loss by Lessor, the amount of such Basic Rent; plus Owner Participant or the Mortgagee (4) as provided in Section 3.2.2including with respect to Make-Whole Amount, interest on the amount specified in the foregoing clause (1) at the Payment Due Rate from and including the date on which any such amount was due to the date of payment of such amount in full; plus (5) interest on the amounts specified in the foregoing clauses (2) and (3) at the SLV Rate from and including the Stipulated Loss Value Date used in the foregoing clause (1) for the computation of unpaid Rent to the date such amount is due, and thereafter at the Payment Due Rate to the date of payment of such amounts in full; andif any). (ii) on or before the date required for payment of the amounts specified in paragraph (i) above, Lessee shall also pay to Lessor, Mortgagee and the other Participants all other amounts due and payable by Lessee to Lessor, Mortgagee and the other Participants under this Lease, the Participation Agreement or any other Lessee Operative Agreement. (b) Upon payment in full of all amounts described in the foregoing paragraph (a),(i) the obligation of Lessee to pay Interim Rent, Basic Rent or Renewal Rent hereunder with respect to the Aircraft shall terminate, (ii) the Term for the Aircraft shall end and (iii) Lessor will transfer the Aircraft to Lessee, as-is and where-is, and subject to any insurer's salvage rights, but otherwise in the manner described in Section 4.5.

PAYMENT OF LOSS AND TERMINATION OF LEASE. (a) If Lessee elects, in accordance with Section 10.1.1§ 9.1.1, to make payment in respect of any such Event of Loss, then Lessee shall pay, in the manner and in funds of the type specified in Section § 3.3, on the following amounts: (i) on or before the Business Day SLV Date next following the earlier of (x) the 120th 150th day following the date of the occurrence of such Event of Loss, and (y) the fourth second Business Day following the receipt of the insurance proceeds with respect to such occurrence (but in any event not earlier than the date of Lessee's ’s election under Section 10.1.1 § 9.1.1 to make payment under this Section 10.1.2§ 9.1.2)(such SLV Date, referred to herein as the “SLV Payment Date”), Lessee shall pay to Lessor: (1) all unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, due payable at any time prior to before the Stipulated Loss Value SLV Payment Date (it being understood and agreed that if such SLV Payment Date is on or immediately preceding the Loss also a Payment Date, no Basic Rent shall be payable on and as of such Date); plus (2) the Stipulated Loss Value of the Aircraft computed as of the Stipulated Loss Value Date used in the foregoing clause (1) for the computation of unpaid RentSLV Payment Date; plus (3) if all Transaction Expenses (excluding brokerage commissions and similar expenses payable to any Person not retained by Lessee) incurred by Lessor and Owner Participant in connection with such Event of Loss and the Stipulated Loss Value Date used in related termination of the foregoing clause (1) is a Payment Date on which Basic Rent payable in arrears is due, the amount of such Basic RentLease; plus (4) to the extent not taken into account in the foregoing clauses (2) and (3), all Supplemental Rent due by Lessee to Lessor, Owner Participant or any other Person entitled thereto, and remaining unpaid under the Lease or any other Operative Agreement; plus (5) as provided in Section 3.2.2§ 3.2.2 of the Lease, interest on the amount amounts specified in the foregoing clause clauses (1) through (4) at the Payment Past-Due Rate from and including the date on which any such amount was due to the date of payment of such amount in full; plus provided, that, (5x) interest if a Payment Date shall occur at any time before the SLV Payment Date, then Lessee shall pay the Basic Rent due on such Payment Date, and (y) if a Payment Date shall occur on the amounts specified in the foregoing clauses (2) and (3) at SLV Payment Date, or on a date occurring after the SLV Rate from and including the Stipulated Loss Value Payment Date used in the foregoing clause (1) for the computation of unpaid Rent to the date such amount is due, and thereafter at the Payment Due Rate to but before the date of payment of such amounts in full; and (ii) on or before the date required for payment of the amounts specified above in paragraph this clause (i) abovea), then Lessee shall also pay to Lessorthe Basic Rent due on such Payment Date, Mortgagee and the other Participants all other thereupon such amounts due and payable by Lessee to Lessor, Mortgagee and the other Participants under this Lease, clause (a) shall be reduced by the Participation Agreement or any other Lessee Operative Agreementamount of such payment of Basic Rent. (b) Upon payment in full of all amounts described in the foregoing paragraph (a),(i) the obligation of Lessee to pay Interim Rent§ 9.1.2(a), Basic Rent or Renewal Rent hereunder with respect to the Aircraft shall terminate, (ii) the Term for the Aircraft shall end end, and (iii) Lessor will transfer the Aircraft to Lessee, as-is and where-is, and subject to any insurer's ’s salvage rights, but otherwise in the manner described in § 4.5 and return any amounts of the Security Deposit being held by Lessor pursuant to § 3.2.3 hereof, together with the cash balance of any Maintenance Reserves held by Lessor pursuant to Section 4.5F of Annex C hereof.

PAYMENT OF LOSS AND TERMINATION OF LEASE. (a) If Lessee elects, in accordance with Section 10.1.1§ 9.1.1, to make payment in respect of any such Event of Loss, then Lessee shall pay, in the manner and in funds of the type specified in Section § 3.3, on the following amounts: (i) on or before the Business Day SLV Date next following the earlier of (x) the 120th 150th day following the date of the occurrence of such Event of Loss, and (y) the fourth second Business Day following the receipt of the insurance proceeds with respect to such occurrence (but in any event not earlier than the date of Lessee's ’s election under Section 10.1.1 § 9.1.1 to make payment under this Section 10.1.2§ 9.1.2)(such SLV Date, referred to herein as the “SLV Payment Date”), Lessee shall pay to Lessor: (1) all unpaid Interim Rent, Basic Rent or Renewal Rent, as the case may be, due payable at any time prior to before the Stipulated Loss Value SLV Payment Date (it being understood and agreed that if such SLV Payment Date is on or immediately preceding the Loss also a Payment Date, no Basic Rent shall be payable on and as of such Date); plus (2) the Stipulated Loss Value of the Aircraft computed as of the Stipulated Loss Value Date used in the foregoing clause (1) for the computation of unpaid RentSLV Payment Date; plus (3) if all Transaction Expenses (excluding brokerage commissions and similar expenses payable to any Person not retained by Lessee) incurred by Lessor and Owner Participant in connection with such Event of Loss and the Stipulated Loss Value Date used in related termination of the foregoing clause (1) is a Payment Date on which Basic Rent payable in arrears is due, the amount of such Basic RentLease; plus (4) to the extent not taken into account in the foregoing clauses (2) and (3), all Supplemental Rent due by Lessee to Lessor, Owner Participant or any other Person entitled thereto, and remaining unpaid under the Lease or any other Operative Agreement; plus (5) as provided in Section 3.2.2§ 3.2.2 of the Lease, interest on the amount amounts specified in the foregoing clause clauses (1) through (4) at the Payment Past-Due Rate from and including the date on which any such amount was due to the date of payment of such amount in full; plus provided, that, (5x) interest if a Payment Date shall occur at any time before the SLV Payment Date, then Lessee shall pay the Basic Rent due on such Payment Date, and (y) if a Payment Date shall occur on the amounts specified in SLV Payment Date, or on a *** Material has been omitted pursuant to a request for confidential treatment and filed separately with the foregoing clauses (2) and (3) at SEC date occurring after the SLV Rate from and including the Stipulated Loss Value Payment Date used in the foregoing clause (1) for the computation of unpaid Rent to the date such amount is due, and thereafter at the Payment Due Rate to but before the date of payment of such amounts in full; and (ii) on or before the date required for payment of the amounts specified above in paragraph this clause (i) abovea), then Lessee shall also pay to Lessorthe Basic Rent due on such Payment Date, Mortgagee and the other Participants all other thereupon such amounts due and payable by Lessee to Lessor, Mortgagee and the other Participants under this Lease, clause (a) shall be reduced by the Participation Agreement or any other Lessee Operative Agreementamount of such payment of Basic Rent. (b) Upon payment in full of all amounts described in the foregoing paragraph (a),(i) the obligation of Lessee to pay Interim Rent§ 9.1.2(a), Basic Rent or Renewal Rent hereunder with respect to the Aircraft shall terminate, (ii) the Term for the Aircraft shall end end, and (iii) Lessor will transfer the Aircraft to Lessee, as-is and where-is, and subject to any insurer's ’s salvage rights, but otherwise in the manner described in Section § 4.5.