Total Loss of the Aircraft Sample Clauses

Total Loss of the Aircraft. (a) If the Aircraft shall become a Total Loss prior to the Return Date, Lessee (i) shall notify Lessor of such Total Loss within three (3) days after its occurrence and (ii) shall Initials: ABX:__________ DHL:__________ pay the Agreed Value to Lessor (or cause the insurers to make such payment, with any deductible being the responsibility of Lessee) within ninety (90) days after the occurrence of the Total Loss. The letting of the Aircraft shall terminate upon the earlier to occur of (1) receipt of the Agreed Value by Lessor and (2) the receipt by Lessor of written confirmation from the insurer of the Aircraft to the effect that such insurer will pay to Lessor the Agreed Value of the Aircraft. Thereupon Lessor shall transfer title to the remains of the Aircraft to the insurers or to Lessee, as appropriate under the insurance policies. (b) If the Aircraft shall become a Total Loss prior to Delivery to Lessee, this Agreement shall terminate immediately. Any termination under this Section 19.1(b) shall discharge all obligations and liabilities of the parties hereunder, except that Lessee shall be entitled to a return of any prepaid Rent and any other monies prepaid to Lessor pursuant hereto. All such returns shall be made by Lessor to Lessee within five (5) Business Days after Lessor’s receipt of a valid written determination of a Total Loss.
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Total Loss of the Aircraft. If the Aircraft shall become a Total Loss prior to the Return Date, Lessee shall pay the Stipulated Loss Value to Lessor or shall cause the insurers to make such payment within ninety (90) days of the occurrence of the Total Loss. The Term of this Agreement shall end upon the earlier to occur of (i) receipt of the Stipulated Loss Value by Lessor and (ii) the receipt by Lessor of written confirmation from the insurer of the Aircraft to the effect that such insurer will pay to Lessor the Stipulated Loss Value of the Aircraft. Thereupon Lessor shall transfer title to the remains of the Aircraft to the insurers or to Lessee, as appropriate under the insurance policies, and Lessor shall return to Lessee any prepaid Rent and any other monies theretofore paid by Lessee then held by it.
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Total Loss of the Aircraft. 19.1.1 If a Total Loss occurs prior to Delivery of the Aircraft, the Sublease relating to such Aircraft will immediately terminate and except as expressly stated in the Sublease none of the parties will have any further obligation in respect of such Aircraft, other than pursuant to Section 16.3 and Section 3
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Total Loss of the Aircraft. 19.1.1. If the Aircraft suffers a Total Loss prior to the Return Date, Lessee: (a) will notify Lessor of such Total Loss within three days after its occurrence; and (b) will pay the Agreed Value to Lessor (or cause the insurers to make such payment, with any deductible being the responsibility of Lessee) within 90 days after the occurrence of the Total Loss. This Agreement will terminate upon the earlier to occur of: (i) receipt of the Agreed Value by Lessor or (ii) the receipt by Lessor of written confirmation from the insurer of the Aircraft to the effect that such insurer will pay to Lessor the Agreed Value. Lessor will transfer title to the remains of the Aircraft to the insurers or to Lessee, as appropriate under the insurance policies required by Section 11. 19.1.2. If the Aircraft suffers a Total Loss prior to Delivery to Lessee, this Agreement will terminate immediately. Any termination under this Section 19.1.2 will discharge all obligations and liabilities of the Parties, except that Lessee will be entitled to a return of any prepaid Rent and any other monies prepaid to Lessor pursuant hereto. All such returns will be made by Lessor to Lessee within five Business Days after Lessor’s receipt of a written determination of a Total Loss.
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Total Loss of the Aircraft. 1. If a total loss of any Aircraft occurs after the Loan has been made by Lender to Buyer under this Agreement, each Obligor, as applicable, shall pay the Agreed Value and all other sums owing by any Obligor in connection with this Agreement on or prior to the earlier of: (A) sixty (60) days after the date of that total loss; and (B) the date of receipt of insurance proceeds in respect of that total loss, provided, however that if Borrower pays Lender the Agreed Value and Lender subsequently receives insurance proceeds in respect of the total loss, then provided that all other amounts due and owing by Borrower to Lender under this Agreement have been paid in full, Lender shall promptly transfer such insurance proceeds (net of any Taxes) to Borrower.
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Related to Total Loss of the Aircraft

  • Total Loss An Event of Loss shall occur resulting in the actual or constructive total loss of the Vessel or the agreed or compromised total loss of the Vessel and the proceeds of the insurance in respect thereof shall not have been received within 150 days of the event giving rise to such Event of Loss; or

  • Aircraft This peril includes self-propelled missiles and spacecraft.

  • LIABILITY AND RISK OF LOSS A. Each Party hereby waives any claim against the other Party, employees of the other Party, the other Party's Related Entities (including but not limited to contractors and subcontractors at any tier, grantees, investigators, customers, users, and their contractors or subcontractor at any tier), or employees of the other Party's Related Entities for any injury to, or death of, the waiving Party's employees or the employees of its Related Entities, or for damage to, or loss of, the waiving Party's property or the property of its Related Entities arising from or related to activities conducted under this Agreement, whether such injury, death, damage, or loss arises through negligence or otherwise, except in the case of willful misconduct. B. Each Party further agrees to extend this cross-waiver to its Related Entities by requiring them, by contract or otherwise, to waive all claims against the other Party, Related Entities of the other Party, and employees of the other Party or of its Related Entities for injury, death, damage, or loss arising from or related to activities conducted under this Agreement. Additionally, each Party shall require that their Related Entities extend this cross-waiver to their Related Entities by requiring them, by contract or otherwise, to waive all claims against the other Party, Related Entities of the other Party, and employees of the other Party or of its Related Entities for injury, death, damage, or loss arising from or related to activities conducted under this Agreement.

  • Aircraft Liability (Additional requirement applicable for aerial photograph or contract involving any use of aircraft.)

  • Partial Damage - Uninsured Loss If a Premises Partial Damage that is not an Insured Loss occurs, unless caused by a negligent or willful act of Lessee (in which event Lessee shall make the repairs at Lessee's expense), Lessor may either: (i) repair such damage as soon as reasonably possible at Lessor's expense, in which event this Lease shall continue in full force and effect, or (ii) terminate this Lease by giving written notice to Lessee within thirty (30) days after receipt by Lessor of knowledge of the occurrence of such damage. Such termination shall be effective sixty (60) days following the date of such notice. In the event Lessor elects to terminate this Lease, Lessee shall have the right within ten (10) days after receipt of the termination notice to give written notice to Lessor of Lessee's commitment to pay for the repair of such damage without reimbursement from Lessor. Lessee shall provide Lessor with said funds or satisfactory assurance thereof within thirty (30) days after making such commitment. In such event this Lease shall continue in full force and effect, and Lessor shall proceed to make such repairs as soon as reasonably possible after the required funds are available. If Lessee does not make the required commitment, this Lease shall terminate as of the date specified in the termination notice.

  • Risk of Loss or Damage The Lessee assumes all risk of loss or damage to the Equipment from any cause and agrees to return it to the Lessor in the condition received, with the exception of wear and tear, unless otherwise provided in this Agreement.

  • Condition of Aircraft Upon any Return Occasion, Lessee shall return such Aircraft to Lessor in such condition that the Aircraft shall also comply with each and every condition and requirement set forth elsewhere in this Lease, including Exhibit E hereto.

  • Partial Damage - Insured Loss If a Premises Partial Damage that is an Insured Loss occurs, then Lessor shall, at Lessor's expense, repair such damage (but not Lessee's Trade Fixtures or Lessee Owned Alterations and Utility Installations) as soon as reasonably possible and this Lease shall continue in full force and effect; provided, however, that Lessee shall, at Lessor's election, make the repair of any damage or destruction the total cost to repair of which is $10,000 or less, and, in such event, Lessor shall make any applicable insurance proceeds available to Lessee on a reasonable basis for that purpose. Notwithstanding the foregoing, if the required insurance was not in force or the insurance proceeds are not sufficient to effect such repair, the Insuring Party shall promptly contribute the shortage in proceeds (except as to the deductible which is Lessee's responsibility) as and when required to complete said repairs. In the event, however, such shortage was due to the fact that, by reason of the unique nature of the improvements, full replacement cost insurance coverage was not commercially reasonable and available, Lessor shall have no obligation to pay for the shortage in insurance proceeds or to fully restore the unique aspects of the Premises unless Lessee provides Lessor with the funds to cover same, or adequate assurance thereof, within ten (10) days following receipt of written notice of such shortage and request therefor. If Lessor receives said funds or adequate assurance thereof within said ten (10) day period, the party responsible for making the repairs shall complete them as soon as reasonably possible and this Lease shall remain in full force and effect. If such funds or assurance are not received, Lessor may nevertheless elect by written notice to Lessee within ten (10) days thereafter to: (i) make such restoration and repair as is commercially reasonable with Lessor paying any shortage in proceeds, in which case this Lease shall remain in full force and effect, or have this Lease terminate thirty (30) days thereafter. Lessee shall not be entitled to reimbursement of any funds contributed by Lessee to repair any such damage or destruction. Premises Partial Damage due to flood or earthquake shall be subject to Paragraph 9.3, notwithstanding that there may be some insurance coverage, but the net proceeds of any such insurance shall be made available for the repairs if made by either Party.

  • Lease of Aircraft Lessor agrees to lease the Aircraft to Lessee pursuant to the provisions of FAR Section 91.501(b)(6) and Section 91.501(c)(1) and this Agreement, and to provide a fully-qualified and credentialed flight crew for all flights to be conducted hereunder during the Term (as defined in Section 13) hereof. The parties acknowledge and agree that this Agreement did not result in any way from any direct or indirect advertising, holding out or soliciting on the part of Lessor or any person purportedly acting on behalf of Lessor. Lessor and Lessee intend that the lease of the Aircraft effected by this Agreement shall be treated as a “wet lease” pursuant to which Lessor provides transportation services to Lessee in accordance with FAR Section 91.501(b)(6) and Section 91.501(c)(1).

  • Watercraft Liability 1. Coverages E and F do not apply to any "water- craft liability" if, at the time of an "occurrence", the involved watercraft is being: a. Operated in, or practicing for, any prear- ranged or organized race, speed contest or other competition. This exclusion does not apply to a sailing vessel or a predicted log cruise; b. Rented to others; c. Used to carry persons or cargo for a charge; or d. Used for any "business" purpose. 2. If Exclusion B.1. does not apply, there is still no coverage for "watercraft liability" unless, at the time of the "occurrence", the watercraft: a. Is stored; b. Is a sailing vessel, with or without auxiliary power, that is: (1) Less than 26 feet in overall length; or (2) 26 feet or more in overall length and not owned by or rented to an "insured"; or c. Is not a sailing vessel and is powered by: (1) An inboard or inboard-outdrive engine or motor, including those that power a wa- ter jet pump, of: (a) 50 horsepower or less and not owned by an "insured"; or (b) More than 50 horsepower and not owned by or rented to an "insured"; or (2) One or more outboard engines or mo- tors with: (a) 25 total horsepower or less; (b) More than 25 horsepower if the outboard engine or motor is not owned by an "insured"; (c) More than 25 horsepower if the outboard engine or motor is owned by an "insured" who acquired it dur- ing the policy period; or (d) More than 25 horsepower if the outboard engine or motor is owned by an "insured" who acquired it be- fore the policy period, but only if: (i) You declare them at policy incep- tion; or (ii) Your intent to insure them is reported to us in writing within 45 days after you acquire them.

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