Common use of RETURN OF AIRCRAFTRETURN OF AIRCRAFT Clause in Contracts

RETURN OF AIRCRAFTRETURN OF AIRCRAFT. 12.1. RedeliveryRedelivery ---------- On the Expiry Date or termination of the leasing of the Aircraft under this Agreement, the Lessee shall, unless a Total Loss has occurred, at its expense, redeliver the Aircraft and Aircraft Documents to the Lessor at the Redelivery Location in a condition complying with this Clause 12 and Schedule 5, free and clear of all Security Interests (other than Lessor Liens); provided, however, that if Lessor designates an alternate Redelivery Location in the continental United States of America then the Lessor shall reimburse the Lessee for the cost of a ferry flight from Mexico City International Airport (or such closer location at which Lessee has then placed the Aircraft) to such alternate Redelivery Location, provided, however, that if such cost is in excess of $15,000.00 any excess shall not be reimbursed and shall be borne by the Lessee.

Appears in 4 contracts

Samples: Lease Agreement (Afg Investment Trust C), Lease Agreement (American Income Fund I-C LTD Partnership), Lease Agreement (Afg Investment Trust B)

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