Common use of Payment of Stipulated Loss Value and Rent Clause in Contracts

Payment of Stipulated Loss Value and Rent. On any Business Day designated by Lessee upon 30 days' irrevocable notice to Lessor and the Indenture Trustee, but in no event later than the earlier of (i) the 180th day following the date of the occurrence of such Event of Loss or (ii) the later of 15 days following receipt of insurance proceeds with respect to such occurrence or the date Lessee shall have made or shall have deemed to have made its election under Section 10.1.1 to comply with Section 10.1.3, Lessee shall pay to Lessor in the manner and in funds of the type specified in Section 3.6, (A) the Stipulated Loss Value for the Aircraft, determined as of the date of payment (as described in the definition of Stipulated Loss Value), (B) all unpaid Interim Rent and Basic Rent due on or prior to the SLV Determination Date with reference to which the Stipulated Loss Value is computed (it being understood and agreed that Lessee shall not be required to pay the portion, if any, of such Interim Rent or Basic Rent designated in Exhibit C hereto as payable in advance on such SLV Determination Date), and (C) (without duplication) any other Rent which is due and payable through and including the date of payment."

Payment of Stipulated Loss Value and Rent. On any Business Day designated by Lessee upon 30 days' irrevocable notice to Lessor and the Indenture Trustee, but in no event later than the earlier Business Day next preceding the earliest of (i) the 180th day following the date of the occurrence of such Event of Loss Loss, (ii) the second Business Day next succeeding the last day of the Term or (iiiii) the later of 15 days following receipt of insurance proceeds with respect to such occurrence or the date Lessee shall have made or shall have deemed to have made its election under Section 10.1.1 to comply with Section 10.1.3, Lessee shall pay to Lessor Lessor, in the manner and in funds of the type specified in Section 3.6, (A) the Stipulated Loss Value for the Aircraft, determined as of the date of payment (as described in the definition of Stipulated Loss Value), (B) all unpaid Interim Rent and Basic Rent due on or prior to the SLV Determination Date with reference to which the Stipulated Loss Value is computed (it being understood and agreed that Lessee shall not be required to pay the portion, if any, of such Interim Rent or Basic Rent designated in Exhibit C hereto as payable in advance on such SLV Determination Date, unless attributable to accrued interest on the Certificates), and (C) (without duplication) any other Rent which is due and payable through and including the date of payment."

Payment of Stipulated Loss Value and Rent. On any or before the Business Day designated by Lessee upon 30 days' irrevocable notice to Lessor and the Indenture Trustee, but in no event later than next preceding the earlier of (i) the 180th day following the date of the occurrence of such Event of Loss Loss, (ii) the second Business Day next succeeding the last day of the Term, or (iiiii) the later of 15 days following the receipt of insurance proceeds with respect to such occurrence or the date Lessee shall have made or shall have be deemed to have made its election under Section 10.1.1 to comply with Section 10.1.3, Lessee shall pay to Lessor Lessor, in the manner and in funds of the type specified in Section 3.6, (A) the Stipulated Loss Value for the Aircraft, determined as of the date of payment (as described in the definition of Stipulated Loss Value), (B) all unpaid Interim Rent and Basic Rent due on or prior to the SLV Determination Date with reference to which the Stipulated Loss Value is computed (it being understood and agreed that Lessee shall not be required to pay the portion, if any, of such Interim Rent or Basic Rent designated in Exhibit C hereto as payable in advance on such SLV Determination Date, unless attributable to accrued interest on the Certificates), and (C) (without duplication) any other Rent which is due and payable through and including the date of payment."

Payment of Stipulated Loss Value and Rent. On any or before the Business Day designated by Lessee upon 30 days' irrevocable notice to Lessor and the Indenture Trustee, but in no event later than next preceding the earlier of (i) the 180th day following the date of the occurrence of such Event of Loss Loss, or (ii) the later of 15 days following the receipt of insurance proceeds with respect to such occurrence or the date Lessee shall have made or shall have be deemed to have made its election under Section 10.1.1 to comply with Section 10.1.3, Lessee shall pay to Lessor SALE AND LEASE AGREEMENT [N603SW] -34- 41 Lessor, in the manner and in funds of the type specified in Section 3.6, (A) the Stipulated Loss Value for the Aircraft, determined as of the date of payment (as described in the definition of Stipulated Loss Value), (B) all unpaid Interim Rent and Basic Rent due on or prior to the SLV Determination Date with reference to which the Stipulated Loss Value is computed (it being understood and agreed that Lessee shall not be required to pay the portion, if any, of such Interim Rent or Basic Rent designated in Exhibit C hereto as payable in advance on such SLV Determination Date), and (C) (without duplication) any other Rent which is due and payable through and including the date of payment."

Payment of Stipulated Loss Value and Rent. On any Business Day designated by Lessee upon 30 days' irrevocable notice to Lessor and the Indenture Trustee, but in no event later than the earlier of (i) the 180th day following the date of the occurrence of such Event of Loss or (ii) the later of 15 days following receipt of insurance proceeds with respect to such occurrence or the date Lessee shall have made or shall have deemed to have made its election under Section 10.1.1 to comply with Section 10.1.3, Lessee shall pay to Lessor in the manner and in funds of the type specified in Section 3.6, (A) the Stipulated Loss Value for the Aircraft, determined as of the date of payment (as described in the definition of Stipulated Loss Value), (B) all unpaid Interim Rent and Basic Rent due on or prior to the SLV Determination Date with reference to which the Stipulated Loss Value is computed (it being understood and agreed that Lessee shall not be required to pay the portion, if any, of such Interim Rent or Basic Rent designated in Exhibit C hereto as payable in advance on such SLV Determination Date), and (C) (without duplication) any other Rent which is due and payable through and including the date of payment." (a) Section 11.5 of the Lease is hereby amended to delete all references therein to the Original Loan Participant. (b) Section 11.6 of the Lease is hereby amended to be and read in its entirety as follows:

Payment of Stipulated Loss Value and Rent. On any Business Day designated by Lessee upon 30 days' irrevocable notice to Lessor and the Indenture Trustee, but in no event later than the earlier of (i) the 180th day following the date of the occurrence of such Event of Loss or (ii) the later of 15 days following receipt of insurance proceeds with respect to such occurrence or the date Lessee shall have made or shall have deemed to have made its election under Section 10.1.1 to comply with Section 10.1.3, Lessee shall pay to Lessor in the manner and in funds of the type specified in Section 3.6, (A) the Stipulated Loss Value for the Aircraft, determined as of the date of payment (as described in the definition of Stipulated Loss Value), (B) all unpaid Interim Rent and Basic Rent due on or prior to the SLV Determination Date with reference to which the Stipulated Loss Value is computed (it being understood and agreed that Lessee shall not be required to pay the portion, if any, of such Interim Rent or Basic Rent designated in Exhibit C hereto as payable in advance on such SLV Determination Date), and (C) (without duplication) any other Rent which is due and payable through and including the date of payment."