Common use of Severability, Amendment, and Construction Clause in Contracts

Severability, Amendment, and Construction. Any provision of this Lease which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. To the extent permitted by Law, each of Lessor and Lessee hereby waives any provision of Law which renders any provision hereof prohibited or unenforceable in any respect. No term or provision of this Lease may be changed, waived, discharged, or terminated orally, but only by an instrument in writing expressed to be a supplement or amendment to, or waiver or termination of this Lease signed by an officer of the party against which the enforcement of the change, waiver, discharge, or termination is sought. This Lease shall constitute an agreement of lease, and nothing herein shall be construed as conveying to Lessee any right, title, or interest in the Aircraft or any Engine or Part except as a lessee only. Without limiting the foregoing, the parties hereto agree to treat this Agreement as a lease for United States federal income tax purposes and Lessee will not file a tax return which is inconsistent with the foregoing and nothing contained herein shall be construed as an election by Lessor to treat Lessee as having acquired the Aircraft for the purpose of the investment credit allowed by Section 38 of the 1954 Code or any similar or successor statute. The headings in this Lease are for convenience of reference only and shall not define or limit any of the terms or provisions hereof.

Severability, Amendment, and Construction. Any provision of this Lease which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. To the extent permitted by Law, each of Lessor and Lessee hereby waives any provision of Law which renders any provision hereof prohibited or unenforceable in any respect. No term or provision of this Lease may be changed, waived, discharged, or terminated orally, but only by an instrument in writing expressed to be a supplement or amendment to, or waiver or termination of this Lease signed by an officer of the party against which the enforcement of the change, waiver, discharge, or termination is sought. This Lease shall constitute an agreement of lease, and nothing herein shall be construed as conveying to Lessee any right, title, or interest in the Aircraft or any Engine or Part except as a lessee only. Without limiting the foregoing, the parties hereto agree to treat this Agreement as a lease for United States federal income tax purposes and Lessee will not file a tax return which is inconsistent with the foregoing and nothing contained herein shall be construed as an election by Lessor to treat Lessee as having acquired the Aircraft for the purpose of the investment credit allowed by Section 38 of the 1954 Code or any similar or successor statute. The headings in this Lease are for convenience of reference only and shall not define or limit any of the terms or provisions hereof.

Severability, Amendment, and Construction. Any provision of this Lease which is prohibited or - 106 - 108 unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. To the extent permitted by Law, each of Lessor and Lessee hereby waives any provision of Law which renders any provision hereof prohibited or unenforceable in any respect. No term or provision of this Lease may be changed, waived, discharged, or terminated orally, but only by an instrument in writing expressed to be a supplement or amendment to, or waiver or termination of this Lease signed by an officer of the party against which the enforcement of the change, waiver, discharge, or termination is sought. This Lease shall constitute an agreement of lease, and nothing herein shall be construed as conveying to Lessee any right, title, or interest in the Aircraft or any Engine or Part except as a lessee only. Without limiting the foregoing, the parties hereto agree to treat this Agreement as a lease for United States federal income tax purposes and Lessee will not file a tax return which is inconsistent with the foregoing and nothing contained herein shall be construed as an election by Lessor to treat Lessee as having acquired the Aircraft for the purpose of the investment credit allowed by Section 38 of the 1954 Code or any similar or successor statute. The headings in this Lease are for convenience of reference only and shall not define or limit any of the terms or provisions hereof.

Severability, Amendment, and Construction. Any provision of this Lease which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. To the extent permitted by Law, each of Lessor and Lessee hereby waives any provision of Law which renders any provision hereof prohibited or unenforceable in any respect. No term or provision of this Lease may be changed, waived, discharged, or terminated orally, but only by an instrument in writing expressed to be a supplement or amendment to, or waiver or termination of this Lease signed by an officer of the party against which the enforcement of the change, waiver, discharge, or termination is sought. This Lease shall constitute an agreement of lease, and nothing herein shall be construed as conveying to Lessee any right, title, or interest in the Aircraft or any Engine or Part except as a lessee only. Without limiting the foregoing, the parties hereto agree to treat this Agreement as a lease for United States federal income tax purposes and Lessee will not file a tax return which is inconsistent with the foregoing and nothing contained herein shall be construed as an election by Lessor to treat Lessee as having acquired the Aircraft - 104 - 106 for the purpose of the investment credit allowed by Section 38 of the 1954 Code or any similar or successor statute. The headings in this Lease are for convenience of reference only and shall not define or limit any of the terms or provisions hereof.

Severability, Amendment, and Construction. Any provision of this Lease which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. To the extent permitted by Law, [each of Lessor and and] Lessee hereby waives any provision of Law which renders any provision hereof prohibited or unenforceable in any respect. No term or provision of this Lease may be changed, waived, discharged, or terminated orally, but only by an instrument in writing expressed to be a supplement or amendment to, or waiver or termination of this Lease signed by an officer of the party against which the enforcement of the change, waiver, discharge, or termination is sought. This Lease shall constitute an agreement of lease, and nothing herein shall be construed as conveying to Lessee any right, title, or interest in the Aircraft or any Engine or Part except as a lessee only. Without limiting the foregoing, the parties hereto agree to treat this Agreement as a lease for United States federal income tax purposes and Lessee will not file a tax return which is inconsistent with the foregoing and nothing contained herein shall be construed as an election by Lessor to treat Lessee as having acquired the Aircraft for the purpose of the investment credit allowed by Section 38 of the 1954 Code or any similar or successor statute. The headings in this Lease are for convenience of reference only and shall not define or limit any of the terms or provisions hereof.

Severability, Amendment, and Construction. Any provision of this Lease which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. To the extent permitted by Law, each of Lessor and Lessee hereby waives any provision of Law which renders any provision hereof prohibited or unenforceable in any respect. No term or provision of this Lease may be changed, waived, discharged, or terminated orally, but only by an instrument in writing expressed to be a supplement or amendment to, or waiver or termination of this Lease signed by an officer of the party against which the enforcement of the change, waiver, discharge, or termination is sought. This Lease shall constitute an agreement of lease, and nothing herein shall be construed as conveying to Lessee any right, title, or interest in the Aircraft or any Engine or Part except as a lessee only. Without limiting the foregoing, the parties hereto agree to treat this Agreement as a lease for United States federal income tax purposes and Lessee will not file 110 a tax return which is inconsistent with the foregoing and nothing contained herein shall be construed as an election by Lessor to treat Lessee as having acquired the Aircraft for the purpose of the investment credit allowed by Section 38 of the 1954 Code or any similar or successor statute. The headings in this Lease are for convenience of reference only and shall not define or limit any of the terms or provisions hereof.

Severability, Amendment, and Construction. Any provision of this Lease which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the -110- 116 remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. To the extent permitted by Law, each of Lessor and Lessee hereby waives any provision of Law which renders any provision hereof prohibited or unenforceable in any respect. No term or provision of this Lease may be changed, waived, discharged, or terminated orally, but only by an instrument in writing expressed to be a supplement or amendment to, or waiver or termination of this Lease signed by an officer of the party against which the enforcement of the change, waiver, discharge, or termination is sought. This Lease shall constitute an agreement of lease, and nothing herein shall be construed as conveying to Lessee any right, title, or interest in the Aircraft or any Engine or Part except as a lessee only. Without limiting the foregoing, the parties hereto agree to treat this Agreement as a lease for United States federal income tax purposes and Lessee will not file a tax return which is inconsistent with the foregoing and nothing contained herein shall be construed as an election by Lessor to treat Lessee as having acquired the Aircraft for the purpose of the investment credit allowed by Section 38 of the 1954 Code or any similar or successor statute. The headings in this Lease are for convenience of reference only and shall not define or limit any of the terms or provisions hereof.