Common use of Storage and Related Matters Clause in Contracts

Storage and Related Matters. Unless Lessee has elected to purchase the Aircraft in accordance with the terms hereof, if Lessor gives written notice to Lessee not less than thirty (30) days nor more than one hundred twenty (120) days prior to the end of the Term requesting storage of the Aircraft upon its return hereunder, Lessee will assist Lessor, at Lessor's expense, in arranging storage for the Aircraft for a period up to thirty (30) days, commencing on the date of such return, and upon request of Lessor to Lessee made at least ten (10) days prior to the end of such initial thirty (30) day period, for an additional one hundred twenty (120) day period commencing upon expiration of such initial period, at such storage facility in the forty eight (48) contiguous states of the United States of America as Lessee and Lessor may agree; PROVIDED that such location shall be a location generally used for the storage of commercial aircraft by aircraft owners or operators. Notwithstanding SUBSECTION (A) of EXHIBIT B, such storage shall be deemed to be the return location of the Aircraft for purposes of such EXHIBIT B. Such storage shall be at Lessor's risk and expense and Lessor shall pay all applicable storage, maintenance and insurance fees and expenses. Lessee's obligation to assist Lessor in arranging storage for the Aircraft shall be subject to Lessor entering into an agreement satisfactory to Lessee prior to the commencement of the storage period with the storage facility providing, among other things, that Lessor shall bear all storage, maintenance charges (other than those to be paid by Lessee as set forth herein and maintenance required as a direct breach of Lessee's obligations under this SECTION 5) and other costs (including those costs referred to above) other than those to be paid by Lessee as set forth herein) and incurred relating to such storage. Lessee agrees to arrange for insurance coverage for the Aircraft during such storage period; PROVIDED that Lessor reimburses Lessee for its out-of-pocket costs therefor.

Appears in 2 contracts

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

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Storage and Related Matters. Unless Lessee has elected to purchase the Aircraft in accordance with the terms hereof, if If Lessor gives written notice to Lessee not less than thirty (30) days nor more than one hundred twenty (120) days prior to the end of the Term requesting storage of the Aircraft upon its return hereunder, Lessee will assist Lessor, at Lessor's expense, in arranging storage for the Aircraft for a period up to thirty (30) days, commencing on the date of such return, and upon request of Lessor to Lessee made at least ten (10) days prior to the end of such initial thirty (30) day period, for an additional one hundred twenty (120) day period commencing upon expiration of such initial period, at such storage facility in the forty eight (48) contiguous states of the United States of America as Lessee and Lessor may agree; PROVIDED that such location shall be a location generally used for the storage of commercial aircraft by aircraft owners or operators. Notwithstanding SUBSECTION subsection (Aa) of EXHIBIT BE, such storage shall be deemed to be the return location of the Aircraft for purposes of such EXHIBIT B. E. Such storage shall be at Lessor's risk and expense and Lessor shall pay all applicable storage, maintenance and insurance fees and expenses. Lessee's obligation to assist Lessor in arranging storage for the Aircraft shall be subject to Lessor entering into an agreement satisfactory to Lessee prior to the commencement of the storage period with the storage facility providing, among other things, that Lessor shall bear all storage, maintenance charges (other than those to be paid by Lessee as set forth herein and maintenance required as a direct breach of Lessee's obligations under this SECTION 5Section 16) and other costs (including those costs referred to above) other than those to be paid by Lessee as set forth herein) and incurred relating to such storage. Lessee agrees to arrange for insurance coverage for the Aircraft during such storage period; PROVIDED that Lessor reimburses Lessee for its out-of-pocket costs therefor.

Appears in 1 contract

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

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Storage and Related Matters. Unless Lessee Sublessee has elected to purchase the Aircraft in accordance with the terms hereof, if Lessor Sublessor gives written notice to Lessee Sublessee not less than thirty (30) days nor more than one hundred twenty (120) days prior to the end of the Term requesting storage of the Aircraft upon its return hereunder, Lessee Sublessee will assist LessorSublessor, at LessorSublessor's expense, in arranging storage for the Aircraft for a period up to thirty (30) days, commencing on the date of such return, and upon request of Lessor Sublessor to Lessee Sublessee made at least ten (10) days prior to the end of such initial thirty (30) day period, for an additional one hundred twenty (120) day period commencing upon expiration of such initial period, at such storage facility in the forty eight (48) contiguous states of the United States of America as Lessee Sublessee and Lessor Sublessor may agree; PROVIDED that such location shall be a location generally used for the storage of commercial aircraft by aircraft owners or operators. Notwithstanding SUBSECTION subsection (Aa) of EXHIBIT B, such storage shall be deemed to be the return location of the Aircraft for purposes of such EXHIBIT B. Such storage shall be at LessorSublessor's risk and expense and Lessor Sublessor shall pay all applicable storage, maintenance and insurance fees and expenses. LesseeSublessee's obligation to assist Lessor Sublessor in arranging storage for the Aircraft shall be subject to Lessor Sublessor entering into an agreement satisfactory to Lessee Sublessee prior to the commencement of the storage period with the storage facility providing, among other things, that Lessor Sublessor shall bear all storage, maintenance charges (other than those to be paid by Lessee Sublessee as set forth herein and maintenance required as a direct breach of LesseeSublessee's obligations under this SECTION 5) and other costs (including those costs referred to above) other than those to be paid by Lessee Sublessee as set forth herein) and incurred relating to such storage. Lessee Sublessee agrees to arrange for insurance coverage for the Aircraft during such storage period; PROVIDED that Head Lessor reimburses Lessee Sublessee for its out-of-pocket costs therefor.

Appears in 1 contract

Samples: Sublease Agreement (Atlas Air Worldwide Holdings Inc)

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