Common use of Substitution of Indexes for Airframe Price Revision Formula Clause in Contracts

Substitution of Indexes for Airframe Price Revision Formula. If; (i) the United States Department of Labor substantially revises the methodology of calculation of the Labor Index or the Material Index as used in the Airframe Price Revision Formula, or (ii) the United States Department of Labor discontinues, either temporarily or permanently, such Labor Index or such Material Index, or (iii) the data samples used to calculate such Labor Index or such Material Index are substantially changed; The Seller shall select a substitute index for inclusion in the Seller Price Revision Formula (the “Substitute Index”). The Substitute Index shall reflect as closely as possible the actual variance of the Labor Costs or of the material costs used in the calculation of the original Labor Index or Material Index as the case may be. As a result of the selection of the Substitute Index, the Seller shall make an appropriate adjustment to the Seller Price Revision Formula to combine the successive utilization of the original Labor Index or Material Index (as the case may be) and of the Substitute Index.

Appears in 2 contracts

Samples: Letter Agreement (Frontier Group Holdings, Inc.), Letter Agreement (Frontier Group Holdings, Inc.)

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Substitution of Indexes for Airframe Price Revision Formula. If; (i) the United States Department of Labor substantially revises the methodology of calculation of the Labor Index or the Material Index as used in the Airframe Price Revision Formula, or (ii) the United States Department of Labor discontinues, either temporarily or permanently, such Labor Index or such Material Index, or (iii) the data samples used to calculate such Labor Index or such Material Index are substantially changed; The Seller shall will select a substitute index for inclusion in the Seller Airframe Price Revision Formula (the “Substitute Index”). The Substitute Index shall will reflect as closely as possible the actual variance of the Labor Costs labor costs or of the material costs used in the calculation of the original Labor Index or Material Index Index, as the case may be. As a result of the selection of the Substitute Index, the Seller shall will make an appropriate adjustment to the Seller Airframe Price Revision Formula to combine the successive utilization of the original Labor Index or Material Index (as the case may be) and of the Substitute Index.. ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. Spirit Airlines – A320 Family 2

Appears in 2 contracts

Samples: Purchase Agreement (Spirit Airlines, Inc.), Purchase Agreement (Spirit Airlines, Inc.)

Substitution of Indexes for Airframe Price Revision Formula. If;: (i) the United States Department of Labor substantially revises the methodology of calculation of the Labor Index or the Material Index as used in the Airframe Price Revision Formula, or (ii) the United States Department of Labor discontinues, either temporarily or permanently, such Labor Index or such Material Index, or (iii) the data samples used to calculate such Labor Index or such Material Index are substantially changed; The the Seller shall select a substitute index for inclusion in the Seller Airframe Price Revision Formula (the “Substitute Index”). The Substitute Index shall reflect as closely as possible the actual variance of the Labor Costs or of the material costs used in the calculation of the original Labor Index or Material Index as the case may be. As a result of the selection of the Substitute Index, the Seller shall make an appropriate adjustment to the Seller Airframe Price Revision Formula to combine the successive utilization of the original Labor Index or Material Index (as the case may be) and of the Substitute Index.

Appears in 2 contracts

Samples: Purchase Agreement (Azul Sa), Purchase Agreement (Intrepid Aviation LTD)

Substitution of Indexes for Airframe Price Revision Formula. If; (i) the United States Department of Labor substantially revises the methodology of calculation of the Labor Index or the Material Index as used in the Airframe Price Revision Formula, or (ii) the United States Department of Labor discontinues, either temporarily or permanently, such Labor Index or such Material Index, or (iii) the data samples used to calculate such Labor Index or such Material Index are substantially changed; The Seller shall will select a substitute index for inclusion in the Seller Airframe Price Revision Formula (the "Substitute Index"). The Substitute Index shall will reflect as closely as possible the actual variance of the Labor Costs labor costs or of the material costs used in the calculation of the original Labor Index or Material Index Index, as the case may be. As a result of the selection of the Substitute Index, the Seller shall will make an appropriate adjustment to the Seller Airframe Price Revision Formula to combine the successive utilization of the original Labor Index or Material Index (as the case may be) and of the Substitute Index.. Spirit Airlines - A320 Family 2

Appears in 1 contract

Samples: Purchase Agreement (Spirit Airlines, Inc.)

Substitution of Indexes for Airframe Price Revision Formula. If;: (i) the United States Department of Labor substantially revises the methodology of calculation of the Labor Index or the Material Index as used in the Airframe Price Revision Formula, or (ii) the United States Department of Labor discontinues, either temporarily or permanently, such Labor Index or such Material Index, or (iii) the data samples used to calculate such Labor Index or such Material Index are substantially changed; The Seller shall select a substitute index for inclusion in the Seller Price Revision Formula (the “Substitute Index”). The Substitute Index shall reflect as closely as possible the actual variance of the Labor Costs or of the material costs used in the calculation of the original Labor Index or Material Index as the case may be. As a result of the selection of the Substitute Index, the Seller shall make an appropriate adjustment to the Seller Price Revision Formula to combine the successive utilization of the original Labor Index or Material Index (as the case may be) and of the Substitute Index.

Appears in 1 contract

Samples: Letter Agreement (Frontier Group Holdings, Inc.)

Substitution of Indexes for Airframe Price Revision Formula. If;: (ia) the United States Department of Labor substantially revises the methodology of calculation of the Labor Index or the Material Index as used in the Airframe Price Revision Formula, or (iib) the United States Department of Labor discontinues, either temporarily or permanently, such Labor Index or such Material Index, or (iiic) the data samples used to calculate such Labor Index or such Material Index are substantially changed; The the Seller shall select a substitute index for inclusion in the Seller Airframe Price Revision Formula (the “Substitute Index”). The Substitute Index shall reflect as closely as possible the actual variance of the Labor Costs or of the material costs used in the calculation of the original Labor Index or Material Index as the case may be. As a result of the selection of the Substitute Index, the Seller shall make an appropriate adjustment to the Seller Airframe Price Revision Formula to combine the successive utilization of the original Labor Index or Material Index (as the case may be) and of the Substitute Index.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Frontier Group Holdings, Inc.)

Substitution of Indexes for Airframe Price Revision Formula. If; (i) the United States Department of Labor substantially revises the methodology of calculation of the Labor Index or the Material Index as used in the Airframe Price Revision Formula, or (ii) the United States Department of Labor discontinues, either temporarily or permanently, such Labor Index or such Material Index, or (iii) the data samples used to calculate such Labor Index or such Material Index are substantially changed; The the Seller shall select a substitute index for inclusion in the Seller Airframe Price Revision Formula (the "Substitute Index"). The Substitute Index shall reflect as closely as possible the actual variance of the Labor Costs or of the material costs used in the calculation of the original Labor Index or Material Index as the case may be. As a result of the selection of the Substitute Index, the Seller shall make an appropriate adjustment to the Seller Airframe Price Revision Formula to combine the successive utilization utilisation of the original Labor Index or Material Index (as the case may be) and of the Substitute Index.

Appears in 1 contract

Samples: Purchase Agreement (KLM Royal Dutch Airlines)

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Substitution of Indexes for Airframe Price Revision Formula. If; (i) the United States Department of Labor substantially revises the methodology of calculation of the Labor Index or the Material Index as used in the Airframe Price Revision Formula, or (ii) the United States Department of Labor discontinues, either temporarily or permanently, such Labor Index or such Material Index, or (iii) the data samples used to calculate such Labor Index or such Material Index are substantially changed; The Seller shall AVSA will select a substitute index for inclusion in the Seller Airframe Price Revision Formula (the "Substitute Index"). The Substitute Index shall will reflect as closely as possible the actual variance of the Labor Costs labor costs or of the material costs used in the calculation of the original Labor Index or Material Index Index, as the case may be. As a result of the selection of the Substitute Index, the Seller shall AVSA will make an appropriate adjustment to the Seller Airframe Price Revision Formula to combine the successive utilization of the original Labor Index or Material Index (as the case may be) and of the Substitute Index. 5.3 Final Index Values

Appears in 1 contract

Samples: Purchase Agreement (Spirit Airlines, Inc.)

Substitution of Indexes for Airframe Price Revision Formula. If; (i) the United States Department of Labor substantially revises the methodology of calculation of the Labor Index or the Material Index as used in the Airframe Price Revision Formula, or (ii) the United States Department of Labor discontinues, either temporarily or permanently, such Labor Index or such Material Index, or (iii) the data samples used to calculate such Labor Index or such Material Index are substantially changed; The the Seller shall select a substitute index for inclusion in the Seller Airframe Price Revision Formula (the “Substitute Index”). The Substitute Index shall reflect as closely as possible the actual variance of the Labor Costs or of the material costs used in the calculation of the original Labor Index or Material Index as the case may be. As a result of the selection of the Substitute Index, the Seller shall make an appropriate adjustment to the Seller Airframe Price Revision Formula to combine the successive utilization utilisation of the original Labor Index or Material Index (as the case may be) and of the Substitute Index.

Appears in 1 contract

Samples: A320 Purchase Agreement (Jetblue Airways Corp)

Substitution of Indexes for Airframe Price Revision Formula. If;: (i) the United States Department of Labor substantially revises the methodology of calculation of the Labor Index or the Material Index as used in the Airframe Price Revision Formula, or (ii) the United States Department of Labor discontinues, either temporarily or permanently, such Labor Index or such Material Index, or (iii) the data samples used to calculate such Labor Index or such Material Index are substantially changed; The the Seller shall select a substitute index for inclusion in the Seller Airframe Price Revision Formula (the “Substitute Index”). The Substitute Index shall reflect as closely as possible the actual variance of the Labor Costs or of the material costs used in the calculation of the original Labor Index or Material Index as the case may be[***]. As a result of the selection of the Substitute Index, the Seller shall make an appropriate adjustment to the Seller Airframe Price Revision Formula to combine the successive utilization of the original Labor Index or Material Index (as the case may be) and of the Substitute Index.

Appears in 1 contract

Samples: Aircraft Purchase Agreement (AerCap Holdings N.V.)

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