Common use of Right of Termination Clause in Contracts

Right of Termination. (a) Lessee shall have the right at its option to terminate this Lease during the Base Lease Term, effective only on a Termination Date occurring on or after the fifth anniversary of the Delivery Date, if: (i) Lessee makes a good faith determination that the Aircraft either has become economically obsolete or is surplus to Lessee's requirements and the Chief Financial Officer or Treasurer of Lessee so certifies in writing to Lessor; and (ii) written notice of Lessee's exercise of its option to terminate this Agreement shall be given to Lessor not less than 90 days prior to the proposed Termination Date specified in such notice. (b) Lessor shall notify Lessee and Mortgagee of Lessor's intention to sell or retain the Aircraft, as provided in this Section 9, within 30 days after Lessee gives Lessor written notice pursuant to Section 9.1(a)(ii). Any failure by Lessor to give such notice of its election shall be deemed to be an election to sell the Aircraft, as provided in this Section 9. (c) Any termination pursuant to this Section 9 shall become effective on the date of the sale, if any, pursuant to Section 9.2 or upon the date of termination and payment by Lessee and Lessor in accordance with Section 9.3 if Lessor elects to retain the Aircraft.

Right of Termination. (a) Unless a Lease Event of Default, Payment Default or Bankruptcy Default shall have occurred and be continuing, Lessee shall have the right at its option to terminate this Lease during the Base Lease Term, effective only on a Termination Date occurring on or after the fifth anniversary end of the Delivery DateTax Attribute Period, if: (i) Lessee makes a good faith determination that the Aircraft either has become economically obsolete or is surplus to Lessee's requirements and the Chief Financial Officer or Treasurer of Lessee so certifies in writing to Lessor; and (ii) written notice of Lessee's exercise of its option to terminate this Agreement shall be given to Lessor not less than 90 days prior to the proposed Termination Date specified in such notice. (b) Lessor shall notify Lessee and Mortgagee of Lessor's intention to sell or retain the Aircraft, as provided in this Section 9, within 30 no later than 45 days after Lessee gives Lessor written notice pursuant to Section 9.1(a)(ii). Any failure by Lessor to give such notice of its election shall be deemed to be an election to sell the Aircraft, as provided in this Section 9. (c) Any termination pursuant to this Section 9 shall become effective on the date of the sale, if any, pursuant to Section 9.2 or upon the date of termination and payment by Lessee and Lessor in accordance with Section 9.3 if Lessor elects to retain the Aircraft.

Right of Termination. (a) Provided there is then no Special Default or Lease Event of Default, Lessee shall have the right at its option to terminate this Lease during the Base Lease Term, effective only on a Termination Date occurring on or after the fifth seventh anniversary of the Delivery Date, if: (i1) Lessee makes a good faith determination that the Aircraft either has become economically obsolete or is surplus to Lessee's requirements requirements, and the Lessee's Chief Financial Officer or Treasurer of Lessee so certifies in writing to Lessor; and (ii2) Lessee provides Lessor (with a copy to Owner Participant) with written notice of Lessee's exercise of its such termination option to terminate this Agreement shall be given to Lessor not less than 90 180 days prior to and not more than 360 days before the proposed Termination Date specified in such notice. (b) Lessor shall notify Lessee and Mortgagee of Lessor's intention to sell or retain the Aircraft, as provided in this Section ss. 9, within 30 not less than 120 days after Lessee gives Lessor before the Termination Date specified in the written notice noticE pursuant to Section 9.1(a)(iiss. 9.1(a)(2). Any failure by Lessor to give such notice of its election shall be deemed to be an aN election to sell the Aircraft, as provided in this Section ss. 9. (c) Any In the event of any termination pursuant to this Section 9 ss. 9, Lessee shall become effective on not acquire additionaL 737-800 aircraft during the date 24 months following such termination, except to replace any lost or damaged aircraft or under short-term operating leases, and Lessee shall notify Lessor in the event Lessee plans to enter into such an operating lease to discuss the possible re-lease of the sale, if any, pursuant Aircraft from Lessor to Section 9.2 or upon the date of termination and payment by Lessee and Lessor in accordance with Section 9.3 if Lessor elects to retain the Aircraftunder such short-term operating lease.

Right of Termination. (a) Provided there is then no Special Default or Event of Default, Lessee shall have the right at its option to terminate this Lease during the Base Lease Term, effective only on a Termination Date occurring on or after the fifth seventh anniversary of the Delivery Date, if: (i1) Lessee makes a good faith determination that the Aircraft either has become economically obsolete or is surplus to Lessee's requirements requirements, and the Lessee's Chief Financial Officer or Treasurer of Lessee so certifies in writing to Lessor; and (ii2) Lessee provides Lessor (with a copy to Owner Participant) with written notice of Lessee's exercise of its such termination option to terminate this Agreement shall be given to Lessor not less than 90 180 days prior to and not more than 360 days before the proposed Termination Date specified in such notice. (b) Lessor shall notify Lessee and Mortgagee of Lessor's intention to sell or retain the Aircraft, as provided in this Section ss. 9, within 30 not less than 120 days after Lessee gives Lessor before the Termination Date specified in the written notice pursuant to Section 9.1(a)(iiss. 9.1(a)(2). Any failure by Lessor to give such notice of its election shall be deemed to be an election to sell the Aircraft, as provided in this Section ss. 9. (c) Any In the event of any termination pursuant to this Section 9 ss. 9, Lessee shall become effective on not acquire additional 737-800 aircraft during the date 24 months following such termination, except to replace any lost or damaged aircraft or under short-term operating leases, and Lessee shall notify Lessor in the event Lessee plans to enter into such an operating lease to discuss the possible re-lease of the sale, if any, pursuant Aircraft from Lessor to Section 9.2 or upon the date of termination and payment by Lessee and Lessor in accordance with Section 9.3 if Lessor elects to retain the Aircraftunder such short-term operating lease.

Right of Termination. (a) If no Lease Event of Default exists, Lessee shall have the right at its option to terminate this Lease during the Base Lease Term, effective only on a Termination Date occurring on or after the fifth anniversary of the Delivery Date, if: (i1) Lessee makes a good faith determination that the Aircraft either has become economically obsolete or is surplus to Lessee's requirements requirements, and the Lessee's Chief Financial Officer or Treasurer of Lessee so certifies in writing to LessorLessor and Mortgagee; and (ii2) Lessee provides Lessor and Mortgagee with written notice of Lessee's exercise of its such termination option to terminate this Agreement shall be given to Lessor not less than 90 days prior to before the proposed Termination Date specified in such notice. (b) Lessor shall notify Lessee and Mortgagee of Lessor's intention to sell or retain the Aircraft, as provided in this Section (S) 9, within 30 days after Lessee gives Lessor written notice pursuant to Section 9.1(a)(ii(S) 9.1 (a) (2). Any failure by Lessor to give such notice of its election shall be deemed to be an election to sell the Aircraft, as provided in this Section (S) 9. (c) Any termination pursuant to this Section (S) 9 shall become effective on the date of the sale, if any, pursuant to Section (S) 9.2 or upon the date of termination and payment by Lessee and Lessor in accordance with Section (S) 9.3 if Lessor elects to retain the Aircraft.

Right of Termination. (a) Lessee shall have the right at its option to terminate this Lease during the Base Lease Term, effective only on a Termination Date occurring on or after the fifth anniversary of the Delivery Date, if: (i) Lessee makes a good faith determination that the Aircraft either has become economically obsolete or is surplus to Lessee's requirements and the Chief Financial Officer or Treasurer of Lessee so certifies in writing to Lessor; andor (ii) the Aircraft is to be disposed of pursuant to a program of fleet renewal. Lessee shall give to Lessor written notice of Lessee's exercise of its option to terminate this Agreement shall be given to Lessor not less than 90 days prior to the proposed Termination Date specified in such notice. (b) Lessor shall notify Lessee and Mortgagee of Lessor's intention to sell or retain the Aircraft, as provided in this Section 9, within 30 days after Lessee gives of receipt by Lessor of the written notice from Lessee given pursuant to Section 9.1(a)(ii9.1(a). Any failure by Lessor to give such notice of its election shall be deemed to be an election to sell the Aircraft, as provided in this Section 9. (c) Any termination pursuant to this Section 9 shall become effective on the date of the sale, if any, pursuant to Section 9.2 or upon the date of termination and payment by Lessee Les- see and Lessor in accordance with Section 9.3 if Lessor elects to retain the Aircraft.

Right of Termination. (a) Lessee shall have the right at its option to terminate this Lease during the Base Lease Term, effective only on a Termination Date occurring on or after the fifth anniversary of the Delivery Date, if: (i) Lessee makes a good faith determination that the Aircraft either has become economically obsolete or is surplus to Lessee's requirements and the Chief Financial Officer or Treasurer of Lessee so certifies in writing to Lessor; and (ii) written notice of Lessee's exercise of its option to terminate this Agreement shall be given to Lessor not less than 90 days prior to the proposed Termination Date specified in such notice. (b) Lessor shall notify Lessee and Mortgagee of Lessor's intention to sell or retain the Aircraft, as provided in this Section 9, within no less than 30 days after Lessee gives Lessor written notice pursuant to Section 9.1(a)(ii). Any failure by Lessor to give such notice of its election shall be deemed to be an election to sell the Aircraft, as provided in this Section 9. (c) Any termination pursuant to this Section 9 shall become effective on the date of the sale, if any, pursuant to Section 9.2 or upon the date of termination and payment by Lessee and Lessor in accordance with Section 9.3 if Lessor elects to retain the Aircraft.

Right of Termination. (a) So long as no Specified Default or Lease Event Default set forth in Section 14.1 or 14.5 below, shall have occurred and be continuing, Lessee shall have the right upon not less than 90 days' prior written notice at its option to terminate this Lease during the Base Lease Term, effective only on a Termination Date occurring on or after the fifth seventh anniversary of the Delivery close of the calendar year in which occurs the applicable Closing Date, if: (i) Lessee makes a good faith determination that the Aircraft either has become economically obsolete or is surplus to Lessee's requirements and the Chief Financial Officer or Treasurer of Lessee so certifies in writing to Lessor; andor (ii) written notice the Aircraft is to be disposed of Lessee's exercise pursuant to a program of its option to terminate this Agreement shall be given to Lessor not less than 90 days prior to the proposed Termination Date specified in such noticefleet renewal. (b) Lessor shall notify Lessee and Mortgagee of Lessor's intention to sell or retain the Aircraft, as provided in this Section 9, within no less than 30 days after Lessee gives Lessor written notice pursuant to Section 9.1(a)(ii9.1(a). Any failure by Lessor to give such notice of its election shall be deemed to be an election to sell the Aircraft, as provided in this Section 9. (c) Any termination pursuant to this Section 9 shall become effective on the date of the sale, if any, pursuant to Section 9.2 or upon the date of termination and payment by Lessee and Lessor in accordance with Section 9.3 if Lessor elects to retain the Aircraft.

Right of Termination. (a) Unless a Lease Event of Default, Payment Default or Bankruptcy Default shall have occurred and be continuing, Lessee shall have the right at its option to terminate this Lease during the Base Lease Term, effective only on a Termination Date occurring on or after the fifth anniversary end of the Delivery DateTax Attribute Period, if: (i) Lessee makes a good faith determination that the Aircraft either has become economically obsolete or is surplus to Lessee's ’s requirements and the Chief Financial Officer or Treasurer of Lessee so certifies in writing to Lessor; and (ii) written notice of Lessee's ’s exercise of its option to terminate this Agreement shall be given to Lessor not less than 90 days prior to the proposed Termination Date specified in such notice. (b) Lessor shall notify Lessee and Mortgagee of Lessor's ’s intention to sell or retain the Aircraft, as provided in this Section 9, within 30 no later than 45 days after Lessee gives Lessor written notice pursuant to Section 9.1(a)(ii). Any failure by Lessor to give such notice of its election shall be deemed to be an election to sell the Aircraft, as provided in this Section 9. (c) Any termination pursuant to this Section 9 shall become effective on the date of the sale, if any, pursuant to Section 9.2 or upon the date of termination and payment by Lessee and Lessor in accordance with Section 9.3 if Lessor elects to retain the Aircraft.

Right of Termination. (a) So long as no Lease Event of Default has occurred and is continuing, Lessee shall have the right at its option to terminate this Lease during the Base Lease Term, effective only on a Termination Date occurring on or after the fifth anniversary of the Delivery Authorized Termination Date, if: (i) Lessee makes a good faith determination that the Aircraft either has become economically obsolete or is surplus to Lessee's requirements and the Chief Financial Officer or Treasurer of Lessee so certifies in writing to Lessor; and (ii) written notice of Lessee's exercise of its option to terminate this Agreement shall be given to Lessor not less than 90 days prior to the proposed Termination Date specified in such notice. (b) Lessor shall notify Lessee and Mortgagee of Lessor's intention to sell or retain the Aircraft, as provided in this Section 9, within no less than 30 days after Lessee gives Lessor written notice pursuant to Section 9.1(a)(ii). Any failure by Lessor to give such notice of its election shall be deemed to be an election to sell the Aircraft, as provided in this Section 9. (c) Any termination pursuant to this Section 9 shall become effective on the date of the sale, if any, pursuant to Section 9.2 or upon the date of termination and payment by Lessee and Lessor in accordance with Section 9.3 if Lessor elects to retain the Aircraft.

Right of Termination. (a) Lessee shall have the right at its option to terminate this Lease during the Base Lease Term, effective only on a Termination Date occurring on or after the fifth anniversary of the Delivery Date, if: (i) Lessee makes a good faith determination that the Aircraft either has become economically obsolete or is surplus to Lessee's requirements and the Chief Financial Officer or Treasurer of Lessee so certifies in writing to Lessor; andor (ii) the Aircraft is to be disposed of pursuant to a program of fleet renewal. Lessee shall give to Lessor written notice of Lessee's exercise of its option to terminate this Agreement shall be given to Lessor not less than 90 days prior to the proposed Termination Date specified in such notice. (b) Lessor shall notify Lessee and Mortgagee of Lessor's intention to sell or retain the Aircraft, as provided in this Section 9, within 30 days after Lessee gives of receipt by Lessor of the written notice from Lessee given pursuant to Section 9.1(a)(ii9.1(a). Any failure by Lessor to give such notice of its election shall be deemed to be an election to sell the Aircraft, as provided in this Section 9. (c) Any termination pursuant to this Section 9 shall become effective on the date of the sale, if any, pursuant to Section 9.2 or upon the date of termination and payment by Lessee and Lessor in accordance with Section 9.3 if Lessor elects to retain the Aircraft.