Common use of Storage Upon Return Clause in Contracts

Storage Upon Return. If, at least 15 days prior to termination of this Lease at the end of the Term or pursuant to Section 17, Lessee receives from Lessor a written request for storage of the Aircraft or Spare Engines upon its return hereunder, Lessee will provide Lessor, or cause Lessor to be provided, with storage facilities for the Aircraft or Spare Engines at Lessee's risk and at Lessee's expense for a period not exceeding 30 days, and thereafter at Lessor's risk and at Lessor's cost for insurance, maintenance and Lessee's out-of-pocket expenses for such storage for a period not exceeding 90 days (provided that if such termination occurs as a result of a Lease Event of Default hereunder, such storage shall be at the cost of the Lessee), commencing on the date the Aircraft or Spare Engine is returned substantially in the condition required under this Section 8, at a location in the continental United States selected by Lessee and used by Lessee as a location for the long-term parking or storage of aircraft.

Appears in 4 contracts

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

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Storage Upon Return. If, at least 15 days prior to termination of this Lease at the end of the Term or pursuant to Section 17, the Lessee receives from the Lessor a written request for storage of the Aircraft or Spare Engines upon its return hereunder, the Lessee will provide the Lessor, or cause the Lessor to be provided, with storage facilities for the Aircraft or Spare Engines at the Lessee's risk and at the Lessee's expense for a period not exceeding 30 days, and thereafter at the Lessor's risk and at the Lessor's cost for insurance, maintenance and the Lessee's out-of-pocket expenses for such storage for a period not exceeding 90 days (provided provided, that if such termination occurs as a result of a Lease Event of Default hereunder, such storage shall be at the cost of the Lessee), commencing on the date when the Aircraft or Spare Engine is returned substantially in the condition required under this Section 8, at a location in the continental United States selected by the Lessee and used by the Lessee as a location for the long-term parking or storage of aircraft.

Appears in 3 contracts

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

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Storage Upon Return. If, at least 15 days prior to termination of this Lease at the end of the Term or pursuant to Section 17, the Lessee receives from the Lessor a written request for storage of the Aircraft or Spare Engines any Engine upon its return hereunder, the Lessee will provide the Lessor, or cause the Lessor to be provided, with storage facilities for such Engine at the Aircraft or Spare Engines at Lessee's risk and at the Lessee's expense for a period not exceeding 30 days, and thereafter at the Lessor's risk and at the Lessor's cost for insurance, maintenance and the Lessee's out-of-pocket expenses for such storage for a period not exceeding 90 days (provided provided, that if such termination occurs as a result of a Lease Event of Default hereunder, such storage shall be at the cost of the Lessee), commencing on the date the Aircraft or Spare when such Engine is returned substantially in the condition required under this Section 8, at a location in the continental United States selected by the Lessee and used by the Lessee as a location for the long-term parking or storage of aircraftengines.

Appears in 1 contract

Samples: Lease Agreement (Atlas Air Inc)

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