Total Loss During Term. If the Aircraft is the subject of a Total Loss during the Term, this Agreement shall terminate as of the date of such Total Loss. Provided all amounts which are then due and payable by Lessee under this Agreement have been paid in full to Lessor, Lessee’s obligations hereunder for the payment of charges under Sections 3 and 4 shall cease as from the date when the Aircraft was no longer available for use due to a Total Loss. Lessee shall be liable only for such charges under Sections 3 and 4 hereof as would apply to the use of the Aircraft from the start of the Term to the date of the Total Loss.
Appears in 3 contracts
Samples: Aircraft Lease Agreement, Aircraft Lease Agreement (Wendy's Co), Aircraft Lease Agreement (Wendy's/Arby's Group, Inc.)
Total Loss During Term. If the Aircraft is the subject of a Total Loss during the Term, this Agreement shall terminate as of the date of such Total Loss. Provided all amounts which are then due and payable by Lessee under this Agreement have been paid in full to Lessor, Lessee’s obligations hereunder for the payment of charges under Sections 3 and 4 shall cease as from the date when the Aircraft was no longer available for use due to a Total Loss. Lessee shall be liable only for such charges under Sections 3 and 4 hereof as would apply to the use of the Aircraft from the start of the Term to the date of the Total Loss.. Section 9: DEFAULT 9.1
Appears in 1 contract
Samples: 4 Aircraft Lease Agreement
