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

Payment of Stipulated Loss Value and Rent. On or before the Business Day before the earlier of (i) the 60th day following the date of the occurrence of such Event of Loss with respect to the In-Use Aircraft; or (ii) five days following the receipt of insurance proceeds with respect to such occurrence (the "LOSS PAYMENT DATE"), Lessee shall pay to Lessor, in the manner and in funds of the type specified in Section 3(e), an amount equal to the sum of (i) the Stipulated Loss Value for the In-Use Aircraft calculated as of the Basic Rent Payment Date next following the Event of Loss (or if the date of such Event of Loss is a Basic Rent Payment Date, as of such Basic Rent Payment Date (the "Loss Computation Date")) less any payment of Basic Rent paid by Lessee after the date of such Event of Loss and on or prior to the Loss Payment Date, (ii) any installment of Basic Rent due and owing prior to the Loss Payment Date, (iii) all Supplemental Rent then due and owing for the Aircraft on the Loss Payment Date, and (iv) interest on the amounts described in clause (i) and (ii) hereof from the Loss Computation Date to the Loss Payment Date at the Prime Rate.

Payment of Stipulated Loss Value and Rent. On or before the Business Day before the earlier of (i) the 60th day following the date of the occurrence of such Event of Loss with respect to the In-Use Aircraft; or (ii) five days following the receipt of insurance proceeds with respect to such occurrence (the "LOSS PAYMENT DATELoss Payment Date"), Lessee shall pay to Lessor, in the manner and in funds of the type specified in Section 3(e), an amount equal to the sum of (i) the Stipulated Loss Value for the In-Use Aircraft calculated as of the Basic Rent Payment Date next following the Event of Loss (or if the date of such Event of Loss is a Basic Rent Payment Date, as of such Basic Rent Payment Date (the "Loss Computation Date")) less any payment of Basic Rent paid by Lessee after the date of such Event of Loss and on or prior to the Loss Payment Date, (ii) any installment of Basic Rent due and owing prior to the Loss Payment Date, (iii) all Supplemental Rent then due and owing for the Aircraft on the Loss Payment Date, and (iv) interest on the amounts described in clause (i) and (ii) hereof from the Loss Computation Date to the Loss Payment Date at the Prime Rate.