Common use of Voluntary Termination as to Engines Clause in Contracts

Voluntary Termination as to Engines. The Lessee shall have the right at its option and at any time, on at least thirty (30) days' prior written notice to the Lessor, to terminate this Lease with respect to any Engine not then installed or held for use on the Airframe, provided that prior to the date of such termination, the Lessee shall comply with the terms of Section 11.04 hereof to the same extent as if an Event of Loss had occurred with respect to such Engine.

Appears in 10 contracts

Samples: Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp)

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Voluntary Termination as to Engines. The So long as no Event of Default shall have occurred and be continuing, the Lessee shall have the right at its option and at any time, on at least thirty (30) days' prior written notice to the Lessor, to terminate this Lease with respect to any Engine not then installed or held for use on the Airframe, provided that prior to the date of such termination, the Lessee shall comply with the terms of Section 11.04 hereof to the same extent as if an Event of Loss had occurred with respect to such Engine.

Appears in 2 contracts

Samples: Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp)

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Voluntary Termination as to Engines. The Provided no Event of Default has occurred and is continuing, the Lessee shall have the right at its option and at any time, on at least thirty (30) days' prior written notice to the Lessor, to terminate the leasing under this Lease with respect to of any Engine not then installed or held for use on the Airframe, provided that prior to the date of such termination, the Lessee shall comply with the terms of Section 11.04 hereof to the same extent as if an Event of Loss had occurred with respect to such Engine.

Appears in 1 contract

Samples: Lease Agreement (Federal Express Corp)

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