Release of Maintenance Reserves. 35 7.3 Lessor Obligations Following Expiry Date.........................36 8. Lessee's Covenants.........................................................36 8.1 Duration.........................................................36 8.2 Information......................................................36 8.3 Lawful and Safe Operation........................................37 8.4
Release of Maintenance Reserves. 30 9.5 Costs in Excess of Maintenance Reserves...............................32 9.6 Reimbursement after Expiry Date.......................................32 10. PAYMENTS.................................................................33 10.1 Account for Lessee Payments..........................................33 10.2
Release of Maintenance Reserves. Lessee will provide Lessor with:
Release of Maintenance Reserves. 10.4.1 Sublessor will reimburse Sublessee from the actual Airframe Maintenance Reserves paid by Sublessee, provided that no Default has occurred and is continuing, for the actual cost of the structural inspection portion of completed scheduled checks as described in the MPD and the rectification of any structural deficiencies resulting from such inspection whenever such inspections and rectification work is performed (provided that such inspection and rectification extends the available life of the Aircraft). Work performed for all other causes is excluded from such reimbursement, including the charges set forth in Section 10.4.5 below.
10.4.2 Sublessor will reimburse Sublessee provided that no Default has occurred and is continuing from the Engine Maintenance Reserves and LLP Maintenance Reserves for the actual cost of completed Engine Performance Restoration Visits and LLP Replacements to the extent the work performed during such Engine Performance Restoration Visit and LLP Replacements consisted of the replacement of life/time limited components resulting in performance restoration, with work performed for all other causes excluded, including those causes set forth in Clause 10.4.5 below. Reimbursement will be made up to the amount in the Engine Maintenance Reserve and LLP Maintenance Reserve applicable to such Engine.
10.4.3 Sublessor will reimburse Sublessee provided that no Default has occurred and is continuing from the Landing Gear Maintenance Reserves for the actual cost associated with the completed Landing Gear overhauls, with work performed for all other causes excluded, including those causes set forth in Clause 10.4.5. Reimbursement will be made up to the amount in the Landing Gear Maintenance Reserve at the time for the Landing Gear Overhaul.
10.4.4 Sublessor will reimburse Sublessee provided that no Default has occurred and is continuing from the APU Maintenance Reserves for the actual cost associated with the completed APU performance restoration, with work performed for all other causes excluded, including those causes set forth in Clause 10.4.5. Reimbursement will be made up to the amount in the APU Maintenance Reserve at the time for the APU performance restoration.
10.4.5 Each of the following causes shall be excluded from this Clause 10.4: accomplishment of Airworthiness Directives and FAR's, accident, faulty maintenance or installation, incident, improper operations, abuse, neglect, misuse, optional parts replacement (where such repl...
Release of Maintenance Reserves. If Lessee submits to Lessor, within six months after the commencement of such maintenance work and before the thirtieth (30th) day following the Expiration Date, an invoice and supporting documentation evidencing performance of the following work (including work performed to satisfy return conditions in accordance with Section 5(a)) by or on behalf of Lessee, Lessor shall, provided that (x) no reimbursement shall be made in respect of replacement, repair or overhaul caused by foreign object damage, operational or other mishandling, faulty maintenance or any accidental cause or in respect of any cost which is reimbursable by insurance, and (y) no Default or Event of Default has occurred and is continuing, release to Lessee the following amounts from the respective Maintenance Reserves:
Release of Maintenance Reserves. If Lessee submits to Owner Participant, within six months after the commencement of such maintenance work and before the Expiry Date, an invoice and supporting documentation evidencing performance (in reasonable detail) of the following work by or on behalf of Lessee, Owner Participant shall, provided that (i) no reimbursement shall be made in respect of replacement, repair or overhaul caused by foreign object damage, operational or other mishandling, faulty maintenance or any accidental cause or in respect of any cost which is reimbursable by insurance, and (ii) no Default or Event of Default is continuing, release to Lessee the following amounts from the respective Maintenance Reserves:
(i) Airframe Checks: with respect to a scheduled 2C, 4C, 6C or 7C Check of the Airframe, the lesser of (i) the amount of such invoice and (ii) the balance of Airframe Maintenance Reserves held by Owner Participant at the time of payment.
Release of Maintenance Reserves. Provided no Default has occurred and is continuing, Lessor will release funds to Lessee from the Maintenance Reserves on the terms and subject to the conditions specified in Clauses 1.2 and 1.3 of Schedule 6.]1
Release of Maintenance Reserves. 35 7.3 Lessor Obligations Following Expiry Date...................... 36
Release of Maintenance Reserves. Provided no Default has occurred and is continuing Lessor will release funds to Lessee from the Maintenance Reserves respecting maintenance work performed upon submission by Lessee to Lessor within 6 months of the commencement of that maintenance and before the Expiry Date of an invoice and supporting documentation reasonably satisfactory to Lessor evidencing:-
(a) with respect to the Airframe, the completion, in accordance with this Agreement, of those items of maintenance (excluding any repairs arising as the result of operational or maintenance mishandling) characterized by the Manufacturer's maintenance planning document and best industry practice as "D" Check and/or individual structural inspections having an interval of not less than 20,000 Flight Hours or 6 years for the Aircraft or any lesser interval for an equivalent major structural inspection if required by the Manufacturer's maintenance planning document subject to retroactive and prospective adjustment of the Reserve Rates as deemed appropriate by Lessor, the lesser of (i) the amount of that invoice and (ii) the amount equal to the aggregate amount of Airframe Maintenance Reserves paid under this Agreement at the time of commencement of that maintenance less the aggregate amount previously released by Lessor under this sub-clause;
(b) with respect to any Engine, the performance, in accordance with this Agreement, of all shop visits requiring engine disassembly (other than (i) repairs arising as a result of foreign object damage or operational or maintenance mishandling and/or (ii) removal, installation, maintenance and repair of Quick Engine Change ("QEC") kits), the lesser of (i) the amount of that invoice and (ii) the amount equal to the aggregate amount of Engine Refurbishment Reserves paid in respect of that Engine under this Agreement at the time of commencement of that maintenance less the aggregate amount previously paid in respect of that Engine by Lessor under this sub-clause;
(c) with respect to life limited parts within any Engine, the performance, in accordance with this Agreement, of any such parts replacement (other than (i) replacement arising as a result of accidents or incidents (whether or not eligible for recovery under Lessee's insurance), foreign object damage or operational or maintenance mishandling and/or (ii) removal, installation, maintenance and repair of QEC kits) and/or (iii) any elective parts replacement), the lesser of (i) the amount of that invoice and (ii) th...
Release of Maintenance Reserves
