Provision of Letter of Credit. Lessor agrees that Lessee may, by 10 Business Days prior notice in writing to Lessor given at any time, elect to substitute for the Deposit a Letter of Credit substantially in the form set out in Schedule 15 (Form of Letter of Credit) or as otherwise approved by Lessor from time to time (the Letter of Credit), provided that no Default is continuing. Such Letter of Credit shall in any event:
Appears in 4 contracts
Samples: Aircraft Lease Agreement (Controladora Vuela Compania De Aviacion, S.A.B. De C.V.), Aircraft Lease Agreement (Controladora Vuela Compania De Aviacion, S.A.B. De C.V.), Aircraft Lease Agreement (Controladora Vuela Compania De Aviacion, S.A.B. De C.V.)
