Requisition of an Airframe and the Installed Engines for Use by Government. In the event of the requisition for use by the Government or any other government of registry of the Aircraft, or any agency or instrumentality of either (a "Requisitioning Government") of the Airframe and the Engines or engines then installed on the Airframe during the Term, which requisition does not constitute an Event of Loss, the Lessee shall promptly notify the Lessor, the Indenture Trustee and the Owner Participant of such requisition and all of the Lessee's obligations under this Lease with respect to such Airframe and Engines or engines shall continue to the same extent as if such requisition had not occurred except to the extent that any failure or delay in the performance or observance of such obligations (other than obligations for the payment of Rent and, subject to Section 7.01(f) hereof, the maintenance of required insurance) by the Lessee shall have been caused by such requisition. All payments received by the Lessor, the Lessee or any permitted sublessee or transferee from the Requisitioning Government for such use of the Airframe and Engines or engines during the Term (other than any such requisition which constitutes an Event of Loss, as to which the provisions of Section 11.05 hereof shall govern) shall, subject to Section 11.08 hereof, be paid over to, or retained by the Lessee or such permitted sublessee or transferee unless a Payment Default, Bankruptcy Default or Event of Default shall have occurred and be continuing (in which case such proceeds shall be held (unless applied) pursuant to Section 23.01 hereof as security for Lessee's obligations hereunder and under the Participation Agreement). All payments received by the Lessor, the Lessee or any such permitted sublessee or transferee from the Requisitioning Government for the use of the Airframe and Engines or engines after the Term shall be paid over to, or retained by, the Lessor (or the Lessee if it shall have purchased the Lessor's interest therein in accordance with the provisions hereof). In the event of any such requisition for use, the Lessee agrees to use reasonable efforts to obtain reimbursement from the Requisitioning Government to the Lessor for damages suffered by the Lessor and the Owner Participant as a result of such requisition for use. The Lessee will endeavor to keep the Lessor informed as to any negotiations between the Lessee and/or any permitted sublessee or transferee and a Requisitioning Government with respect to any such requisition and will consult with the Lessor regarding methods or procedures that are appropriate to effect recovery from such Requisitioning Government for any damages suffered by the Lessor and the Owner Participant by reason of such requisition for use.
Appears in 4 contracts
Samples: Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp)
Requisition of an Airframe and the Installed Engines for Use by Government. In the event of the requisition for use by the Government or any other government of registry of the Aircraft, or any agency or instrumentality of either (a "Requisitioning Government") of the Airframe and the Engines or engines then installed on the Airframe during the Term, which requisition does not constitute an Event of Loss, the Lessee shall promptly notify the Lessor, the Indenture Trustee and the Owner Participant of such requisition and all of the Lessee's obligations under this Lease with respect to such Airframe and Engines or engines shall continue to the same extent as if such requisition had not occurred except to the extent that any failure or delay in repairing or maintaining the performance or observance of such obligations (other than obligations for the payment of Rent and, subject to Section 7.01(f) hereof, the maintenance of required insurance) Aircraft by the Lessee shall have been caused by such requisition. All payments received by the Lessor, the Lessee or any permitted sublessee or transferee from the Requisitioning Government for such use of the Airframe and Engines or engines during the Term (other than any such requisition which constitutes an Event of Loss, as to which the provisions of Section 11.05 hereof shall govern) shall, subject to Section 11.08 hereof, be paid over to, or retained by the Lessee or such permitted sublessee or transferee unless a Payment Default, Bankruptcy Default or Event of Default shall have occurred and be continuing (in which case such proceeds shall be held (unless applied) pursuant to Section 23.01 hereof as security for Lessee's obligations hereunder and under the Participation Agreement)transferee. All payments received by the Lessor, the Lessee or any such permitted sublessee or transferee from the Requisitioning Government for the use of the Airframe and Engines or engines after the Term shall be paid over to, or retained by, the Lessor (or the Lessee if it shall have purchased the Lessor's interest therein in accordance with the provisions hereof). In the event of any such requisition for use, the Lessee agrees to use reasonable efforts to obtain reimbursement from the Requisitioning Government to the Lessor for damages suffered by the Lessor and the Owner Participant as a result of such requisition for use. The Lessee will endeavor to keep the Lessor informed as to any negotiations between the Lessee and/or any permitted sublessee or transferee and a Requisitioning Government with respect to any such requisition and will consult with the Lessor regarding methods or procedures that are appropriate to effect recovery from such Requisitioning Government for any damages suffered by the Lessor and the Owner Participant by reason of such requisition for use.
Appears in 3 contracts
Samples: Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp)
Requisition of an Airframe and the Installed Engines for Use by Government. In the event of the requisition for use by the Government or any other government of registry of the Aircraft, or any agency or instrumentality of either (a "Requisitioning Government") of the Airframe and the Engines or engines then installed on the Airframe during the Term, which requisition does not constitute an Event of Loss, the Lessee shall promptly notify the Lessor, the Indenture Trustee and the Owner Participant of such requisition and all of the Lessee's obligations under this Lease with respect to such Airframe and Engines or engines shall continue to the same extent as if such requisition had not occurred except to the extent that any failure or delay in the performance or observance of such obligations (other than obligations for the payment of Rent and, subject to Section 7.01(f) hereof, the maintenance of required insurance) by the Lessee shall have been caused by such requisition. All payments received by the Lessor, the Lessee or any permitted sublessee or transferee from the Requisitioning Government for such use of the Airframe and Engines or engines during the Term (other than any such requisition which constitutes an Event of Loss, as to which the provisions of Section 11.05 hereof shall govern) shall, subject to Section 11.08 hereof, be paid over to, or retained by the Lessee or such permitted sublessee or transferee unless a Payment Default, Bankruptcy Default or Event of Default shall have occurred and be continuing (in which case such proceeds shall be held (unless applied) pursuant to Section 23.01 hereof as security for Lessee's obligations hereunder and under the Participation Agreement)transferee. All payments received by the Lessor, the Lessee or any such permitted sublessee or transferee from the Requisitioning Government for the use of the Airframe and Engines or engines after the Term shall be paid over to, or retained by, the Lessor (or the Lessee if it shall have purchased the Lessor's interest therein in accordance with the provisions hereof). In the event of any such requisition for use, the Lessee agrees to use reasonable efforts to obtain reimbursement from the Requisitioning Government to the Lessor for damages suffered by the Lessor and the Owner Participant as a result of such requisition for use. The Lessee will endeavor to keep the Lessor informed as to any negotiations between the Lessee and/or any permitted sublessee or transferee and a Requisitioning Government with respect to any such requisition and will consult with the Lessor regarding methods or procedures that are appropriate to effect recovery from such Requisitioning Government for any damages suffered by the Lessor and the Owner Participant by reason of such requisition for use.
Appears in 2 contracts
Samples: Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp)
Requisition of an Airframe and the Installed Engines for Use by Government. In the event of the requisition for use by the Government or any other government of registry of the Aircraft, or any agency or instrumentality of either (a "Requisitioning Government") of the Airframe and the Engines or engines then installed on the Airframe during the Term, which requisition does not constitute an Event of Loss, the Lessee shall promptly notify the Lessor, the Indenture Trustee and the Owner Participant Participants of such requisition and all of the Lessee's obligations under this Lease with respect to such Airframe and Engines or engines shall continue to the same extent as if such requisition had not occurred except to the extent that any failure or delay in the performance or observance of such obligations (other than obligations for the payment of Rent and, subject to Section 7.01(f) hereof, the maintenance of required insurance) by the Lessee shall have been caused by such requisition. All payments received by the Lessor, the Lessee or any permitted sublessee or transferee from the Requisitioning Government for such use of the Airframe and Engines or engines during the Term (other than any such requisition which constitutes an Event of Loss, as to which the provisions of Section 11.05 hereof shall govern) shall, subject to Section 11.08 hereof, be paid over to, or retained by the Lessee or such permitted sublessee or transferee unless a Payment Default, Bankruptcy Default or Event of Default shall have occurred and be continuing (in which case such proceeds shall be held (unless applied) pursuant to Section 23.01 hereof as security for Lessee's obligations hereunder and under the Participation Agreement). All payments received by the Lessor, the Lessee or any such permitted sublessee or transferee from the Requisitioning Government for the use of the Airframe and Engines or engines after the Term shall be paid over to, or retained by, the Lessor (or the Lessee if it shall have purchased the Lessor's interest therein in accordance with the provisions hereof). In the event of any such requisition for use, the Lessee agrees to use reasonable efforts to obtain reimbursement from the Requisitioning Government to the Lessor for damages suffered by the Lessor and the Owner Participant Participants as a result of such requisition for use. The Lessee will endeavor to keep the Lessor informed as to any negotiations between the Lessee and/or any permitted sublessee or transferee and a Requisitioning Government with respect to any such requisition and will consult with the Lessor regarding methods or procedures that are appropriate to effect recovery from such Requisitioning Government for any damages suffered by the Lessor and the Owner Participant Participants by reason of such requisition for use.
Appears in 2 contracts
Samples: Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp)
Requisition of an Airframe and the Installed Engines for Use by Government. In the event of the requisition for use by the Government or any other government of registry of the Aircraft, or any agency or instrumentality of either (a "Requisitioning Government") of the Airframe and the Engines or engines then installed on the Airframe during the Term, which requisition does not constitute an Event of Loss, the Lessee shall promptly notify the Lessor, the Indenture Trustee and the Owner Participant of such requisition and all of the Lessee's obligations under this Lease with respect to such Airframe and Engines or engines shall continue to the same extent as if such requisition had not occurred except to the extent that any failure or delay in the performance or observance of such obligations (other than obligations for the payment of Rent and, subject to Section 7.01(f) hereof, the maintenance of required insurance) by the Lessee shall have been caused by such requisition. All payments received by the Lessor, the Lessee or any permitted sublessee or transferee from the Requisitioning Government for such use of the Airframe and Engines or engines during the Term (other than any such requisition which constitutes an Event of Loss, as to which the provisions of Section 11.05 hereof shall govern) shall, subject to Section 11.08 hereof, be paid over to, or retained by the Lessee or such permitted sublessee or transferee unless a Payment Default, a Bankruptcy Default or an Event of Default shall have occurred and be continuing exist (in which case such proceeds shall be held (unless applied) pursuant to Section 23.01 hereof as security for Lessee's obligations hereunder and under the Participation Agreement). All payments received by the Lessor, the Lessee or any such permitted sublessee or transferee from the Requisitioning Government for the use of the Airframe and Engines or engines after the Term shall be paid over to, or retained by, the Lessor (or the Lessee if it shall have purchased the Lessor's interest therein in accordance with the provisions hereof). In the event of any such requisition for use, the Lessee agrees to use reasonable efforts to obtain reimbursement from the Requisitioning Government to the Lessor for damages suffered by the Lessor and the Owner Participant as a result of such requisition for use. The Lessee will endeavor to keep the Lessor informed as to any negotiations between the Lessee and/or any permitted sublessee or transferee and a Requisitioning Government with respect to any such requisition and will consult with the Lessor regarding methods or procedures that are appropriate to effect recovery from such Requisitioning Government for any damages suffered by the Lessor and the Owner Participant by reason of such requisition for use.
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Requisition of an Airframe and the Installed Engines for Use by Government. In the event of the requisition for use by the Government or any other government of registry of the Aircraft, or any agency or instrumentality of either (a "Requisitioning Government") of the Airframe and the Engines or engines then installed on the Airframe during the Term, which requisition does not constitute an Event of Loss, the Lessee shall promptly notify the Lessor, the Indenture Trustee and the Owner Participant of such requisition and all of the Lessee's obligations under this Lease with respect to such Airframe and Engines or engines shall continue to the same extent as if such requisition had not occurred except to the extent that any failure or delay in maintaining or repairing the performance or observance of such obligations (other than obligations for the payment of Rent and, subject to Section 7.01(f) hereof, the maintenance of required insurance) by the Lessee Aircraft shall have been caused by such requisition. All payments received by the Lessor, the Lessee or any permitted sublessee or transferee from the Requisitioning Government for such use of the Airframe and Engines or engines during the Term (other than any such requisition which constitutes an Event of Loss, as to which the provisions of Section 11.05 hereof shall govern) shall, subject to Section 11.08 hereof, be paid over to, or retained by the Lessee or such permitted sublessee or transferee unless a Payment Default, Bankruptcy Default or Event of Default shall have occurred and be continuing (in which case such proceeds shall be held (unless applied) pursuant to Section 23.01 hereof as security for Lessee's obligations hereunder and under the Participation Agreement). All payments received by the Lessor, the Lessee or any such permitted sublessee or transferee from the Requisitioning Government for the use of the Airframe and Engines or engines after the Term shall be paid over to, or retained by, the Lessor (or the Lessee if it shall have purchased the Lessor's interest therein in accordance with the provisions hereof). In the event of any such requisition for use, the Lessee agrees to use reasonable efforts to obtain reimbursement from the Requisitioning Government to the Lessor for damages suffered by the Lessor and the Owner Participant as a result of such requisition for use. The Lessee will endeavor to keep the Lessor informed as to any negotiations between the Lessee and/or and or any permitted sublessee or transferee and a Requisitioning Government with respect to any such requisition and will consult with the Lessor regarding methods or procedures that are appropriate to effect recovery from such Requisitioning Government for any damages suffered by the Lessor and the Owner Participant by reason of such requisition for use.
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Requisition of an Airframe and the Installed Engines for Use by Government. In the event of the requisition for use by the Government or any other government of registry of the Aircraft, or any agency or instrumentality of either (a "Requisitioning Government") of the Airframe and the Engines or engines then installed on the Airframe during the Term, which requisition does not constitute an Event of Loss, the Lessee shall promptly notify the Lessor, the Indenture Trustee and the Owner Participant of such requisition and all of the Lessee's obligations under this Lease with respect to such Airframe and Engines or engines shall continue to the same extent as if such requisition had not occurred except to the extent that any failure or delay in the performance or observance of such obligations (other than obligations for the payment of Rent and, subject to Section 7.01(f) hereof, the maintenance of required insuranceRent) by the Lessee shall have been caused by such requisition. All payments received by the Lessor, the Lessee or any permitted sublessee or transferee from the Requisitioning Government for such use of the Airframe and Engines or engines during the Term (other than any such requisition which constitutes an Event of Loss, as to which the provisions of Section 11.05 hereof shall govern) shall, subject to Section 11.08 hereof, be paid over to, or retained by the Lessee or such permitted sublessee or transferee unless a Payment Default, Bankruptcy Default or Event of Default shall have occurred and be continuing (in which case such proceeds shall be held (unless applied) pursuant to Section 23.01 hereof as security for Lessee's obligations hereunder and under the Participation Agreement)transferee. All payments received by the Lessor, the Lessee or any such permitted sublessee or transferee from the Requisitioning Government for the use of the Airframe and Engines or engines after the Term shall be paid over to, or retained by, the Lessor (or the Lessee if it shall have purchased the Lessor's interest therein in accordance with the provisions hereof). In the event of any such requisition for use, the Lessee agrees to use reasonable efforts to obtain reimbursement from the Requisitioning Government to the Lessor for damages suffered by the Lessor and the Owner Participant as a result of such requisition for use. The Lessee will endeavor to keep the Lessor informed as to any negotiations between the Lessee and/or any permitted sublessee or transferee and a Requisitioning Government with respect to any such requisition and will consult with the Lessor regarding methods or procedures that are appropriate to effect recovery from such Requisitioning Government for any damages suffered by the Lessor and the Owner Participant by reason of such requisition for use.
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Requisition of an Airframe and the Installed Engines for Use by Government. In the event of the requisition for use by the Government or any other government of registry of the Aircraft, or any agency or instrumentality of either (a "Requisitioning Government") of the Airframe and the Engines or engines then installed on the Airframe during the Term, which requisition does not constitute an Event of Loss, the Lessee shall promptly notify the Lessor, the Indenture Trustee and the Owner Participant of such requisition and all of the Lessee's obligations under this Lease with respect to such Airframe and Engines or engines shall continue to the same extent as if such requisition had not occurred except to the extent that any failure or delay in the performance or observance of such obligations (other than obligations for the payment of Rent and, subject to Section 7.01(f) hereof, the maintenance of required insurance) by the Lessee shall have been caused by such requisition. All payments received by the Lessor, the Lessee or any permitted sublessee or transferee from the Requisitioning Government for such use of the Airframe and Engines or engines during the Term (other than any such requisition which constitutes an Event of Loss, as to which the provisions of Section 11.05 hereof shall govern) shall, subject to Section 11.08 hereof, be paid over to, or retained by the Lessee or such permitted sublessee or transferee unless a Payment Default, Bankruptcy Default or Event of Default shall have occurred and be continuing (in which case such proceeds shall be held (unless applied) pursuant to Section 23.01 hereof as security for Lessee's obligations hereunder and under the Participation Agreement). All payments received by the Lessor, the Lessee or any such permitted sublessee or transferee from the Requisitioning Government for the use of the Airframe and Engines or engines after the Term shall be paid over to, or retained by, the Lessor (or the Lessee if it shall have purchased the Lessor's interest therein in accordance with the provisions hereof). In the event of any such requisition for use, the Lessee agrees to use reasonable efforts to obtain reimbursement from the Requisitioning Government to the Lessor for damages suffered by the Lessor and the Owner Participant as a result of such requisition for use. The Lessee will endeavor to keep the Lessor informed as to any negotiations between the Lessee and/or any permitted sublessee or transferee and a Requisitioning Government with respect to any such requisition and will consult with the Lessor regarding methods or procedures that are appropriate to effect recovery from such Requisitioning Government for any damages suffered by the Lessor and the Owner Participant by reason of such requisition for use.
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Requisition of an Airframe and the Installed Engines for Use by Government. In the event of the requisition for use by the Government or any other government of registry of the Aircraft, or any agency or instrumentality of either (a "Requisitioning Government") of the Airframe and the Engines or engines then installed on the Airframe during the Term, which requisition does not constitute an Event of Loss, the Lessee shall promptly notify the Lessor, the Indenture Trustee and the Owner Participant of such requisition and all of the Lessee's obligations under this Lease with respect to such Airframe and Engines or engines shall continue to the same extent as if such requisition had not occurred except to the extent that any failure or delay in the performance or observance of such obligations (other than obligations for the payment of Rent and, subject to Section 7.01(f) hereof, the maintenance of required insurance) by the Lessee shall have been caused by such requisition. All payments received by the Lessor, the Lessee or any permitted sublessee or transferee from the Requisitioning Government for such use of the Airframe and Engines or engines during the Term (other than any such requisition which constitutes an Event of Loss, as to which the provisions of Section 11.05 Section11.05 hereof shall govern) shall, subject to Section 11.08 Section11.08 hereof, be paid over to, or retained by the Lessee or such permitted sublessee or transferee unless a Payment Default, Bankruptcy Default or Event of Default shall have occurred and be continuing (in which case such proceeds shall be held (unless applied) pursuant to Section 23.01 hereof as security for Lessee's obligations hereunder and under the Participation Agreement). All payments received by the Lessor, the Lessee or any such permitted sublessee or transferee from the Requisitioning Government for the use of the Airframe and Engines or engines after the Term shall be paid over to, or retained by, the Lessor (or the Lessee if it shall have purchased the Lessor's interest therein in accordance with the provisions hereof). In the event of any such requisition for use, the Lessee agrees to use reasonable efforts to obtain reimbursement from the Requisitioning Government to the Lessor for damages suffered by the Lessor and the Owner Participant as a result of such requisition for use. The Lessee will endeavor to keep the Lessor informed as to any negotiations between the Lessee and/or any permitted sublessee or transferee and a Requisitioning Government with respect to any such requisition and will consult with the Lessor regarding methods or procedures that are appropriate to effect recovery from such Requisitioning Government for any damages suffered by the Lessor and the Owner Participant by reason of such requisition for use.
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