Common use of Termination for Default under other Agreements Clause in Contracts

Termination for Default under other Agreements. If the Buyer or any of its Affiliates fails to perform or comply with any material obligation expressed to be assumed by it under any aircraft purchase, financing or leasing agreement between the Buyer or any of its Affiliates and the Seller or any of its Affiliates (the “Other Agreement”) and the Seller or its relevant Affiliate has exercised its right thereunder to terminate such Other Agreement, then the Seller may, by written notice, terminate all or part of this Agreement.

Appears in 2 contracts

Samples: A350 XWB Purchase Agreement (Latam Airlines Group S.A.), Purchase Agreement (Latam Airlines Group S.A.)

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Termination for Default under other Agreements. If the Buyer or any of its Affiliates fails to perform or comply with any material obligation expressed to be assumed by it under in any aircraft purchase, financing or leasing other agreement between the Buyer or any of its Affiliates and the Seller or any of its Affiliates (the “Other Agreement”) and such failure is not remedied *** after the Seller or its relevant Affiliate has exercised its right thereunder given notice thereof to terminate such Other Agreementthe Buyer, then the Seller may, by written notice, terminate all or part of this Agreement.

Appears in 2 contracts

Samples: Letter Agreement (China Southern Airlines Co LTD), Letter Agreement (China Southern Airlines Co LTD)

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Termination for Default under other Agreements. If the Buyer or any of its Affiliates fails to perform or comply with any material obligation expressed to be assumed by it under in any other aircraft purchase, financing or leasing purchase agreement between the Buyer or any of its Affiliates and the Seller or any of its Affiliates (the “Other Agreement”) and such failure is not remedied within [*] Business Days after the Seller or its relevant Affiliate has exercised its right thereunder given notice thereof to terminate such Other Agreementthe Buyer, then the Seller may, by written notice, terminate all or part of this Agreement.

Appears in 1 contract

Samples: Letter Agreement (Air Lease Corp)

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