Common use of Term and Basic Rent Clause in Contracts

Term and Basic Rent. The Term shall commence on the Initial Borrowing Date and end on the seventh anniversary of the Initial Borrowing Date or such earlier date as this Lease may be terminated in accordance with the provisions hereof. Basic Rent shall accrue during the Term in accordance with Exhibit B hereto. Lessee shall pay to Lessor on each Basic Rent Payment Date an amount of Basic Rent specified opposite each Basic Rent Payment Date on Exhibit B hereto as such amounts may be adjusted pursuant to Section 3 plus accrued interest on Basic Rent previously accrued but unpaid as specified on Exhibit B.

Appears in 6 contracts

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

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Term and Basic Rent. The Term shall commence on the Initial Borrowing Date and end on the seventh anniversary of the Initial Borrowing Final Maturity Date or such earlier date as this Lease may be terminated in accordance with the provisions hereof. Basic Rent shall accrue during the Term in accordance with Exhibit B hereto. Lessee shall pay to Lessor on each Basic Rent Payment Date an amount of Basic Rent specified opposite each Basic Rent Payment Date on Exhibit B hereto as such amounts may be adjusted pursuant to Section 3 plus accrued interest on Basic Rent previously accrued but unpaid as specified on Exhibit B.

Appears in 4 contracts

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

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Term and Basic Rent. The Term shall commence on the Initial Borrowing Date and end on the seventh anniversary of the Initial Borrowing Final Maturity Date or such earlier date as this Lease may be terminated in accordance with the provisions hereof. Basic Rent shall accrue during the Term in accordance with Exhibit B hereto. The Lessee shall pay to the Lessor on each Basic Rent Payment Date an amount of Basic Rent specified opposite each Basic Rent Payment Date on Exhibit B hereto as such amounts may be adjusted pursuant to Section 3 plus accrued interest on Basic Rent previously accrued but unpaid as specified on Exhibit B.

Appears in 3 contracts

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

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