PRE-DELIVERY. If a Total Loss occurs prior to Delivery, this Agreement will immediately terminate and, except as expressly stated in this Agreement, neither party will have any further obligation or liability under this Agreement except that the Lessor will rebate to the Lessee the Security Deposit (if theretofore paid pursuant to Clause 5.1) or, as the case may be, return the Letter of Credit to the Lessee.
Appears in 3 contracts
Samples: Lease Agreement (Turn Works Acquisition Iii Sub a Inc), Lease Agreement (Turn Works Acquisition Iii Sub a Inc), Lease Agreement (Turn Works Acquisition Iii Sub a Inc)
PRE-DELIVERY. If a Total Loss occurs prior to Delivery, this Agreement will immediately terminate and, except as expressly stated in this Agreement, neither party will have any further obligation or liability under this Agreement except that other than the obligation of the Lessor will rebate to return to the Lessee that portion of the Security Deposit (Commitment Fee that has been paid to the Lessor, if theretofore paid pursuant in cash, or to Clause 5.1) or, as the case may be, return the Letter of Credit to Credit, if the LesseeCommitment Fee is in the form of a Letter of Credit.
Appears in 1 contract
Samples: Lease Agreement (Western Pacific Airlines Inc /De/)
PRE-DELIVERY. If a Total Loss occurs prior to Delivery, this Agreement will immediately terminate and, except as expressly stated in this Agreement, neither party will have any further obligation or liability under this Agreement except that the Lessor will rebate return to the Lessee the Security Deposit (if theretofore paid pursuant to Clause 5.1) or, as the case may be, return the Letter of Credit to the LesseeDeposit.
Appears in 1 contract
