Common use of Requisition of Aircraft for Use Clause in Contracts

Requisition of Aircraft for Use. If any Government Entity shall requisition for use the Airframe and the Engines or engines installed thereon, and if the same does not constitute an Event of Loss, Lessee shall promptly notify Lessor and Mortgagee of such requisition and all of Lessee's obligations under this Agreement shall continue to the same extent as if such requisition had not occurred; provided, HOWEVER, that if the Airframe and Engines or engines installed thereon are not returned to Lessor by Lessee at the end of the Term or within 30 days thereafter, and Lessor, upon notice given not less than 30 days nor more than 120 days before the end of the Term, shall have elected to treat such event as constituting an Event of Loss with respect to the Aircraft, Lessee shall then be deemed to have made the election set forth in Section 10.1.2 with the effect that Lessee shall be obligated to pay the Stipulated Loss Value and all other amounts payable pursuant to Section 10.1.2 with respect to the Aircraft as if an Event of Loss had occurred as of the end of the Term. If Lessor shall not have elected to treat such event as an Event of Loss, Lessee shall be obligated to return the Airframe and Engines or engines to Lessor pursuant to, and in all other respects to comply with the provisions of, Section 5 promptly upon their return by such Government Entity, and Lessee shall pay to Lessor upon such return an amount equal to the average daily Basic Rent payable by Lessee during the Term for each day after the end of the Term to but excluding the day of such return, up to a maximum of 30 days.

Appears in 6 contracts

Samples: Lease Agreement (Continental Airlines Inc /De/), Annexes, Exhibits and Schedules (Continental Airlines Inc /De/), Lease Agreement (Continental Airlines Inc /De/)

AutoNDA by SimpleDocs

Requisition of Aircraft for Use. If any Government Entity shall requisition for use the Airframe and the Engines or engines installed thereon, and if the same does not constitute an Event of Loss, Lessee shall promptly notify Lessor and Mortgagee of such requisition and all of Lessee's obligations under this Agreement shall continue to the same extent as if such requisition had not occurred; providedPROVIDED, HOWEVER, that if the Airframe and Engines or engines installed thereon are not returned to Lessor by Lessee at the end of the Term or within 30 days thereafterTerm, and Lessorunless Lessor shall have elected, upon notice given not less than 30 days nor more than 120 days before the end of the Term, shall have elected not to treat such event as constituting an Event of Loss with respect to the Aircraft, Lessee shall then be deemed to have made the election set forth in Section 10.1.2 with the effect that Lessee shall be obligated to pay the Stipulated Loss Value and all other amounts payable pursuant to Section 10.1.2 with respect to the Aircraft as if an Event of Loss had occurred as of the end of the TermAircraft. If Lessor shall not have elected not to treat such event as an Event of Loss, Lessee shall be obligated to return the Airframe and Engines or engines to Lessor pursuant to, and in all other respects to comply with the provisions of, Section 5 promptly upon their return by such Government Entity, and Lessee shall pay to Lessor upon such return an amount equal to the average daily Basic Rent payable by Lessee during the Term for each day after the end of the Term to but excluding the day of such return, up to a maximum of 30 days.

Appears in 5 contracts

Samples: Lease Agreement (Continental Airlines Inc /De/), Lease Agreement (Continental Airlines Inc /De/), Lease Agreement (Continental Airlines Inc /De/)

Requisition of Aircraft for Use. If any Government Entity shall requisition for use the Airframe and the Engines or engines installed thereon, and if the same does not constitute an Event of Loss, Lessee shall promptly notify Lessor and Mortgagee of such requisition and all of Lessee's obligations under this Agreement shall continue to the same extent as if such requisition had not occurred; providedPROVIDED, HOWEVER, that if the Airframe and Engines or engines installed thereon are not returned to Lessor by Lessee at the end of the Term or within 30 days thereafter, and Lessor, upon notice given not less than 30 days nor more than 120 days before the end of the Term, shall have elected to treat such event as constituting an Event of Loss with respect to the Aircraft, Lessee shall then be deemed to have made the election set forth in Section 10.1.2 with the effect that Lessee shall be obligated to pay the Stipulated Loss Value and all other amounts payable pursuant to Section 10.1.2 with respect to the Aircraft as if an Event of Loss had occurred as of the end of the Term. If Lessor shall not have elected to treat such event as an Event of Loss, Lessee shall be obligated to return the Airframe and Engines or engines to Lessor pursuant to, and in all other respects to comply with the provisions of, Section 5 promptly upon their return by such Government Entity, and Lessee shall pay to Lessor upon such return an amount equal to the average daily Basic Rent payable by Lessee during the Term for each day after the end of the Term to but excluding the day of such return, up to a maximum of 30 days.

Appears in 5 contracts

Samples: Lease Agreement (Continental Airlines Inc /De/), Lease Agreement (Continental Airlines Inc /De/), Lease Agreement (Continental Airlines Inc /De/)

Requisition of Aircraft for Use. If any Government Entity shall requisition for use the Airframe and the Engines or engines installed thereon, and if the same does not constitute an Event of Loss, Lessee shall promptly notify Lessor and Mortgagee of such requisition and all of Lessee's obligations under this Agreement shall continue to the same extent as if such requisition had not occurred; provided, HOWEVERhowever, that if the Airframe and Engines or engines installed thereon are not returned to Lessor by Lessee at the end of the Term or within 30 180 days thereafter, and Lessor, upon notice given not less than 30 days nor more than 120 days before the end of the Term, shall have elected to treat such event as constituting an Event of Loss with respect to the Aircraft, Lessee shall then be deemed to have made the election set forth in Section 10.1.2 with the effect that Lessee shall be obligated to pay the Stipulated Loss Value and all other amounts payable pursuant to Section 10.1.2 with respect to the Aircraft as if an Event of Loss had occurred as of the end of the Term. If Lessor shall not have elected to treat such event as an Event of Loss, Lessee shall be obligated to return the Airframe and Engines or engines to Lessor pursuant to, and in all other respects to comply with the provisions of, Section 5 promptly upon their return by such Government Entity, and Lessee shall pay to Lessor upon such return an amount equal to the average daily Basic Rent or Renewal Rent, as the case may be, payable by Lessee during the Term for each day after the end of the Term to but excluding the day of such return, up to a maximum of 30 days.

Appears in 3 contracts

Samples: Lease Agreement (Atlas Air Inc), Lease Agreement (Atlas Air Worldwide Holdings Inc), Lease Agreement (Atlas Air Inc)

Requisition of Aircraft for Use. If any Government Entity shall requisition for requisitions the use of the Airframe and the Engines or engines installed thereon, and if the same requisition does not constitute an Event of Loss, Lessee shall promptly notify Lessor and Mortgagee of such requisition requisition, and all of Lessee's obligations under this Agreement Lease shall continue to the same extent as if such requisition had not occurred; providedPROVIDED, HOWEVERthat, that if the Airframe and Engines or engines installed thereon are not returned to Lessor by Lessee at the end of the Term or within 30 days thereafter, and Lessor, upon notice given not less than 30 days nor more than 120 days before the end of the Term, shall have elected to treat such event as constituting an Event of Loss with respect to the Aircraft, then Lessee shall then be deemed to have made the election set forth in Section ss. 10.1.2 with the effect that Lessee shall be obligated to pay the Stipulated Loss Value and all other amounts payable pursuant to Section ss. 10.1.2 with respect to the Aircraft as if an Event of Loss had occurred as of the end of the Term. If Lessor shall such requisition does not have elected to treat such event as constitute an Event of Loss, Lessee shall be obligated to return the Airframe and Engines Engine(s) or engines engine(s) to Lessor pursuant to, and in all other respects to comply with the provisions of, Section ss. 5 promptly upon their return by such Government Entity, and Lessee shall pay (or cause to be paid) to Lessor upon such return an amount equal to the average daily Basic Rent payable by Lessee during the Term for each day after the end of the Term to but excluding the day of such return, up to a maximum of 30 days, which payment may be made from any payments received by Lessor or Lessee from any Government Entity for the use of the Aircraft (notwithstanding any language to the contrary contained in ss. 10.8).

Appears in 2 contracts

Samples: Participation Agreement (Amtran Inc), Lease Agreement (Amtran Inc)

Requisition of Aircraft for Use. If any Government Entity shall requisition for requisitions the use of the Airframe and the Engines or engines installed thereon, and if the same requisition does not constitute an Event of Loss, Lessee shall promptly notify Lessor and Mortgagee of such requisition requisition, and all of Lessee's obligations under this Agreement Lease shall continue to the same extent as if such requisition had not occurred; providedPROVIDED, HOWEVERthat, that if the Airframe and Engines or engines installed thereon are not returned to Lessor by Lessee at the end of the Term or within 30 days thereafter, and Lessor, upon notice given not less than 30 days nor more than 120 days before the end of the Term, shall have elected to treat such event as constituting an Event of Loss with respect to the Aircraft, then Lessee shall then be deemed to have made the election set forth in Section ss. 10.1.2 with the effect that Lessee shall be obligated to pay the thE Stipulated Loss Value and all other amounts payable pursuant to Section ss. 10.1.2 with respect to the Aircraft as if an aN Event of Loss had occurred as of the end of the Term. If Lessor shall such requisition does not have elected to treat such event as constitute an Event of Loss, Lessee shall be obligated to return the Airframe and Engines Engine(s) or engines engine(s) to Lessor pursuant to, and in all other respects to comply with the provisions of, Section ss. 5 promptly upon their return by such Government Entity, and anD Lessee shall pay (or cause to be paid) to Lessor upon such return an amount equal to the average daily Basic Rent payable by Lessee during the Term for each day after the end of the Term to but excluding the day of such return, up to a maximum of 30 days, which payment may be made from any payments received by Lessor or Lessee from any Government Entity for the use of the Aircraft (notwithstanding any language to the contrary contained in ss. 10.8).

Appears in 2 contracts

Samples: Participation Agreement (Amtran Inc), Lease Agreement (Amtran Inc)

Requisition of Aircraft for Use. If any Government Entity shall requisition for use the Airframe and the Engines or engines installed thereon, and if the same does not constitute an Event of Loss, Lessee shall promptly notify Lessor and Mortgagee of such requisition and all of Lessee's obligations under this Agreement shall continue to the same extent as if such requisition had not occurred; provided, HOWEVERhowever, that if the Airframe and Engines or engines installed thereon are not returned to Lessor by Lessee at the end of the Term or within 30 days thereafter, and Lessor, upon notice given not less than 30 days nor more than 120 days before the end of the Term, shall have elected to treat such event as constituting an Event of Loss with respect to the Aircraft, Lessee shall then be deemed to have made the election set forth in Section 10.1.2 with the effect that Lessee shall be obligated to pay the Stipulated Loss Value and all other amounts payable pursuant to Section 10.1.2 with respect to the Aircraft as if an Event of LEASE AGREEMENT BASE PAGE 33 227 Loss had occurred as of the end of the Term. If Lessor shall not have elected to treat such event as an Event of Loss, Lessee shall be obligated to return the Airframe and Engines or engines to Lessor pursuant to, and in all other respects to comply with the provisions of, Section 5 promptly upon their return by such Government Entity, and Lessee shall pay to Lessor upon such return an amount equal to the average daily Basic Rent payable by Lessee during the Term for each day after the end of the Term to but excluding the day of such return, up to a maximum of 30 days.

Appears in 1 contract

Samples: Lease Agreement (Continental Airlines Inc /De/)

AutoNDA by SimpleDocs

Requisition of Aircraft for Use. If any Government Entity shall requisition for use the Airframe and the Engines or engines installed thereon, and if the same does not constitute an Event of Loss, Lessee shall promptly notify Lessor and Mortgagee Security Trustee of such requisition and all of Lessee's obligations under this Agreement shall continue to the same extent as if such requisition had not occurred; providedPROVIDED, HOWEVER, that if the Airframe and Engines or engines installed thereon are not returned to Lessor by Lessee at the end of the Term or within 30 days thereafterTerm, and Lessorunless Lessor shall have elected, upon notice given not less than 30 days nor more than 120 days before the end of the Term, shall have elected not to treat such event as constituting an Event of Loss with respect to the Aircraft, Lessee shall then be deemed to have made the election set forth in Section 10.1.2 with the effect that Lessee shall be obligated to pay the Stipulated Loss Value and all other amounts payable pursuant to Section 10.1.2 with respect to the Aircraft as if an Event of Loss had occurred as of the end of the TermAircraft. If Lessor shall not have elected not to treat such event as an Event of Loss, Lessee shall be obligated to return the Airframe and Engines or engines to Lessor pursuant to, and in all other respects to comply with the provisions of, Section 5 promptly upon their return by such Government Entity, and Lessee shall pay to Lessor upon such return an amount equal to the average daily Basic Rent payable by Lessee during the Term for each day after the end of the Term to but excluding the day of such return, up to a maximum of 30 days.

Appears in 1 contract

Samples: Lease Agreement (Republic Airways Holdings Inc)

Requisition of Aircraft for Use. If any Government Entity shall requisition for use the Airframe and the Engines or engines installed thereonthereon (including the U.S. Government pursuant to CRAF), and if the same does not constitute an Event of Loss, Lessee shall promptly notify Lessor and Mortgagee of such requisition and all of Lessee's obligations under this Agreement shall continue to the same extent as if such requisition had not occurred; providedPROVIDED, HOWEVER, that if the Airframe and Engines or engines installed thereon are not returned to Lessor by Lessee at the end of the Term or within 30 180 days thereafterthereaftex, and xxx Lessor, upon notice given not less than 30 days nor more than 120 days before the end of the Term, shall have elected to treat such event as constituting an Event of Loss with respect to the Aircraft, Lessee shall then be deemed to have made the election set forth in Section 10.1.2 with the effect that Lessee shall be obligated to pay the Stipulated Loss Value and all other amounts payable pursuant to Section 10.1.2 with respect to the Aircraft as if an Event of Loss had occurred as of the end of the Term. If Lessor shall not have elected to treat such event as an Event of Loss, Lessee shall be obligated to return the Airframe and Engines or engines to Lessor pursuant to, and in all other respects to comply with the provisions of, Section 5 promptly upon their return by such Government Entity, and Lessee shall pay to Lessor upon such return an amount equal to the average daily Basic Rent payable by Lessee during the Term for each day after the end of the Term to but excluding the day of such return, up to a maximum of 30 days, an amount equal to (i) the daily equivalent rate equal to average daily Basic Rent payable by Lessor during the Base Lease Term plus (ii) the daily equivalent rate of Enhancement Rent, if applicable at the time, payable during the final Payment Period.

Appears in 1 contract

Samples: Lease Agreement (Atlas Air Worldwide Holdings Inc)

Requisition of Aircraft for Use. If any Government Entity shall requisition for use the Airframe and the Engines or engines installed thereon, and if the same does not constitute an Event of Loss, Lessee shall promptly notify Lessor and Mortgagee of such requisition and all of Lessee's ’s obligations under this Agreement shall continue to the same extent as if such requisition had not occurred; provided, HOWEVERhowever, that if the Airframe and Engines or engines installed thereon are not returned to Lessor by Lessee at the end of the Term or within 30 days thereafterTerm, and Lessorunless Lessor shall have elected, upon notice given not less than 30 days nor more than 120 days before the end of the Term, shall have elected not to treat such event as constituting an Event of Loss with respect to the Aircraft, Lessee shall then be deemed to have made the election set forth in Section 10.1.2 with the effect that Lessee shall be obligated to pay the Stipulated Loss Value and all other amounts payable pursuant to Section 10.1.2 with respect to the Aircraft as if an Event of Loss had occurred as of the end of the TermAircraft. If Lessor shall not have elected not to treat such event as an Event of Loss, Lessee shall be obligated to return the Airframe and Engines or engines to Lessor pursuant to, and in all other respects to comply with the provisions of, Section 5 promptly upon their return by such Government Entity, and Lessee shall pay to Lessor upon such return an amount equal to the average daily Basic Rent payable by Lessee during the Term for each day after the end of the Term to but excluding the day of such return, up to a maximum of 30 days.

Appears in 1 contract

Samples: Lease Agreement (Continental Airlines Inc /De/)

Requisition of Aircraft for Use. If any Government Entity shall requisition for requisitions the use of the Airframe and the Engines or engines installed thereon, and if the same requisition does not constitute an Event of Loss, Lessee shall promptly notify Lessor and Mortgagee of such requisition requisition, and all of Lessee's obligations under this Agreement Lease shall continue to the same extent as if such requisition had not occurred; provided, HOWEVERthat, that if the Airframe and Engines or engines installed thereon are not returned to Lessor by Lessee at the end of the Term or within 30 days thereafter, and Lessor, upon notice given not less than 30 days nor more than 120 days before the end of the Term, shall have elected to treat such event as constituting an Event of Loss with respect to the Aircraft, then Lessee shall then be deemed to have made the election set forth in Section (S) 10.1.2 with the effect that Lessee shall be obligated to pay the Stipulated Loss Value and all other amounts payable pursuant to Section (S) 10.1.2 with respect to the Aircraft as if an Event of Loss had occurred as of the end of the Term. If Lessor shall such requisition does not have elected to treat such event as constitute an Event of Loss, Lessee shall be obligated to return the Airframe and Engines Engine(s) or engines engine(s) to Lessor pursuant to, and in all other respects to comply with the provisions of, Section (S) 5 promptly upon their return by such Government Entity, and Lessee shall pay to Lessor upon such return an amount equal to the average daily Basic Rent payable by Lessee during the Term for each day after the end of the Term to but excluding the day of such return, up to a maximum of 30 days.

Appears in 1 contract

Samples: Note Purchase Agreement (Airtran Holdings Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!