Common use of TRUTH IN LEASING Clause in Contracts

TRUTH IN LEASING. 41- DURING THE TWELVE MONTHS PRECEDING THE EXECUTION OF THIS LEASE, THE AIRCRAFT WAS MAINTAINED, INSPECTED AND OPERATED PURSUANT TO THE REQUIREMENTS OF THE FEDERAL AVIATION REGULATION PART 121 UPON THE REGISTRATION OF THE AIRCRAFT WITH THE FEDERAL AVIATION ADMINISTRATION. THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED UNDER FEDERAL AVIATION REGULATION PART 121 FOR OPERATIONS TO BE CONDUCTED BY THE LESSEE UNDER THIS LEASE EXCEPT AT SUCH TIMES AS THE AIRCRAFT IS SUBLEASED TO A SUBLESSEE HOLDING AN AIR CARRIER OPERATOR CERTIFICATE. NOTWITHSTANDING THE FOREGOING FOR SO LONG AS THE USMS AGREEMENT REMAINS IN EFFECT, THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED BY THE LESSEE UNDER THIS LEASE AND WILL BE UNDER THE OPERATIONAL CONTROL OF THE USMS. AN EXPLANATION OF THE FACTORS BEARING ON OPERATIONAL CONTROL AND PERTINENT FEDERAL AVIATION REGULATIONS CAN BE OBTAINED FROM THE NEAREST FAA FLIGHT STANDARDS DISTRICT OFFICE. (This remainder of this page left blank intentionally).

TRUTH IN LEASING. 41- (a) THE PARTIES HAVE REVIEWED THE AIRCRAFT'S MAINTENANCE RECORDS AND OPERATING LOGS AND HAVE FOUND THAT, DURING THE PRECEDING TWELVE MONTHS PRECEDING MONTHS, OR, IF SHORTER, THE EXECUTION PERIOD FROM THE DATE OF THIS LEASEDELIVERY OF THE AIRCRAFT FROM THE MANUFACTURER, THE AIRCRAFT WAS MAINTAINED, HAS BEEN MAINTAINED AND INSPECTED AND OPERATED PURSUANT TO THE REQUIREMENTS OF THE FEDERAL AVIATION REGULATION UNDER FAR PART 121 UPON THE REGISTRATION OF THE AIRCRAFT WITH THE FEDERAL AVIATION ADMINISTRATION91. RECIPIENT ACKNOWLEDGES THAT THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED UNDER FEDERAL AVIATION REGULATION FAR PART 121 91 FOR OPERATIONS TO BE CONDUCTED BY THE LESSEE UNDER THIS LEASE EXCEPT AT SUCH TIMES AS THE AIRCRAFT AGREEMENT. (b) RECIPIENT ACKNOWLEDGES THAT PROVIDER IS SUBLEASED TO A SUBLESSEE HOLDING AN AIR CARRIER OPERATOR CERTIFICATE. NOTWITHSTANDING THE FOREGOING RESPONSIBLE FOR SO LONG AS THE USMS AGREEMENT REMAINS IN EFFECT, THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED BY THE LESSEE UNDER THIS LEASE AND WILL BE UNDER THE OPERATIONAL CONTROL OF THE USMSAIRCRAFT FOR FLIGHTS UNDER THIS AGREEMENT. EACH OF PROVIDER AND RECIPIENT CERTIFIES THAT IT UNDERSTANDS ITS RESPONSIBILITIES FOR COMPLIANCE WITH APPLICABLE FEDERAL AVIATION REGULATIONS. (c) RECIPIENT UNDERSTANDS THAT AN EXPLANATION OF THE FACTORS BEARING ON OPERATIONAL CONTROL AND THE PERTINENT FEDERAL AVIATION REGULATIONS CAN BE OBTAINED FROM THE NEAREST FAA FLIGHT STANDARDS DISTRICT OFFICE. (This remainder of this page left blank intentionally).

TRUTH IN LEASING. 41- DURING THE TWELVE (12) MONTHS IMMEDIATELY PRECEDING THE EXECUTION OF THIS LEASE, THE EACH AIRCRAFT WAS MAINTAINED, HAS BEEN MAINTAINED AND INSPECTED AND OPERATED PURSUANT TO THE REQUIREMENTS UNDER PART 135 OF THE FEDERAL AVIATION REGULATION PART 121 UPON REGULATIONS. LESSEE CERTIFIES THAT, DURING THE REGISTRATION TERM AS APPLICABLE TO ITS USE OR HANGARING OF THE AIRCRAFT WITH THE FEDERAL AVIATION ADMINISTRATION. THE EACH AIRCRAFT, EACH AIRCRAFT WILL BE MAINTAINED AND INSPECTED UNDER PART 91 AND/OR PART 135 OF THE FEDERAL AVIATION REGULATION PART 121 REGULATIONS. FOR OPERATIONS TO BE CONDUCTED BY THE LESSEE UNDER DURATION OF THIS LEASE EXCEPT AT SUCH TIMES AS THE AIRCRAFT IS SUBLEASED APPLICABLE TO A SUBLESSEE HOLDING AN AIR CARRIER OPERATOR CERTIFICATE. NOTWITHSTANDING THE FOREGOING LESSEE’S USE OR HANGARING OF EACH AIRCRAFT, LESSEE SHALL BE CONSIDERED RESPONSIBLE FOR SO LONG AS THE USMS AGREEMENT REMAINS IN EFFECT, THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED BY THE LESSEE UNDER THIS LEASE AND WILL BE UNDER THE OPERATIONAL CONTROL OF THE USMSAIRCRAFT UNDER THIS LEASE, AND LESSEE CERTIFIES THAT IT UNDERSTANDS ITS RESPONSIBILITIES FOR COMPLIANCE WITH APPLICABLE FEDERAL AVIATION REGULATIONS. AN EXPLANATION OF THE FACTORS BEARING ON OPERATIONAL CONTROL AND PERTINENT FEDERAL AVIATION REGULATIONS CAN BE OBTAINED FROM THE NEAREST FAA FLIGHT STANDARDS DISTRICT OFFICE. (This remainder of this page left blank intentionally), GENERAL AVIATION DISTRICT OFFICE OR AIR CARRIER DJSTRICT OFFICE.

TRUTH IN LEASING. 41- DURING THE TWELVE MONTHS PRECEDING THE EXECUTION OF THIS LEASE, THE AIRCRAFT WAS MAINTAINED, INSPECTED AND OPERATED PURSUANT TO THE REQUIREMENTS OF THE FEDERAL AVIATION REGULATION PART 121 UPON THE REGISTRATION OF THE AIRCRAFT WITH THE FEDERAL AVIATION ADMINISTRATION. THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED UNDER FEDERAL AVIATION REGULATION PART 121 FOR OPERATIONS TO BE CONDUCTED BY THE LESSEE UNDER THIS LEASE EXCEPT AT SUCH TIMES AS THE AIRCRAFT IS SUBLEASED TO A SUBLESSEE HOLDING AN AIR CARRIER OPERATOR CERTIFICATE. NOTWITHSTANDING THE FOREGOING FOR SO LONG AS THE USMS AGREEMENT REMAINS IN EFFECT, THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED BY THE LESSEE UNDER THIS LEASE AND WILL BE UNDER THE OPERATIONAL CONTROL OF THE USMS. AN EXPLANATION OF THE FACTORS BEARING ON OPERATIONAL CONTROL AND PERTINENT FEDERAL AVIATION REGULATIONS CAN BE OBTAINED FROM THE NEAREST FAA FLIGHT STANDARDS DISTRICT OFFICE. (This remainder of this page left blank intentionally).