Wet Leases. The wet leasing of the Aircraft during the Lease Term (in which LESSEE and its crews retain operational control of the Aircraft) will not be considered a sublease of the Aircraft and will be permitted without LESSOR’s consent, provided that (a) the Aircraft remains registered in the State of Registration, (b) the Aircraft will neither be based in nor operated in or to a Prohibited Country, (c) LESSEE provides LESSOR with either a certified copy of the applicable provisions from the wet lease agreement or an officer’s certificate confirming that LESSEE or the wet lessee will be responsible for maintaining the primary passenger, baggage and cargo liability insurance relating to operation under the wet lease unless LESSEE shall be responsible under the Wet Lease for maintaining the same and (d) LESSEE complies with Article 18.10.
Wet Leases. At Continental’s option, and provided that Contractor is not adversely affected in any material respect, Contractor shall “wet lease” one or more of the Covered Aircraft to Continental, on terms mutually acceptable to the parties hereto, which terms are identical in all material respects, economically and otherwise, to the terms of this Agreement (taking into account the inherent differences between a “wet lease” arrangement and a capacity purchase arrangement), and such “wet lease” shall supersede the capacity purchase provisions of this Agreement with respect to such Covered Aircraft. In such event, Contractor’s compensation hereunder, including without limitation in this Article II, in Article III and in Schedule 3, shall be adjusted so that Contractor’s aggregate compensation from such “wet lease” arrangements and the capacity purchase arrangements applicable to the remaining Covered Aircraft are equal to the amount of Contractor’s aggregate compensation had no such “wet lease” arrangements been entered into.
Wet Leases. The wet leasing or charter of the Aircraft during the Lease Term (in which Lessee and its crews retain operational control of the Aircraft) will not be considered a sublease of the Aircraft and will be permitted without Lessor’s consent, provided that (a) the Aircraft remains registered in the State of Registration, (b) the Aircraft will neither be based in nor operated in or to a Prohibited Country, and (c) Lessee complies with Articles 9.2 and 16.9 hereunder.
Wet Leases. The wet leasing of the Aircraft during the Lease Term (whereby the Aircraft will at all times be subject to the full operational control of LESSEE) will be permitted without LESSOR's consent, provided that (a) the Aircraft remains registered in the State of Registration, (b) the Aircraft not be wet leased to a Prohibited Person or wet leased for operations to, from or within a Prohibited Country, (c) LESSEE provides LESSOR with an officer's certificate from LESSEE confirming that the wetlease agreement complies with the requirements of this Article 11.6, (d) LESSEE complies with Article 18.11 and (e) the wet lease will be for a term no greater than six months and, in any event, no greater than the remaining Lease Term.
Wet Leases. Any Wet Lease or similar arrangement under which the Lessee maintains operational control of any Aircraft shall not constitute a delivery, transfer or relinquishment of possession for purposes of this Section 7.
Wet Leases. At Frontier's option, and provided that RAI is not adversely affected in any material respect, RAI shall “wet lease” one or more of the Covered Aircraft to Frontier, on terms mutually acceptable to the parties hereto, which terms are identical in all material respects, economically and otherwise, to the terms of this Agreement (taking into account the inherent differences between a “wet lease” arrangement and a capacity purchase arrangement), and such “wet lease” shall supersede the capacity purchase provisions of this Agreement with respect to such Covered Aircraft. In such event, RAI's compensation hereunder, including without limitation in this Article II, in Article III and in Exhibit D, shall be adjusted so that RAI's aggregate compensation from such “wet lease” arrangements and the capacity purchase arrangements applicable to the remaining Covered Aircraft are equal to the amount of RAI's aggregate compensation had no such “wet lease” arrangements been entered into.
Wet Leases. The wet leasing of the Aircraft during the Lease Term (in which LESSEE and its crews retain operational control of the Aircraft) will not be considered a sublease of the Aircraft and will be permitted without LESSOR's consent, provided that (a) the Aircraft remains registered in the State of Registration, (b) the Aircraft will neither be based in nor operated in or to a Prohibited Country, (c) LESSEE provides LESSOR with either (i) a certified copy of the applicable provisions from the wet lease agreement, (ii) a certified copy or original of an insurance certificate confirming the maintenance of insurance coverage as required by Article 18 and Exhibit E, or (iii) an officer's certificate indicating whether LESSEE or the wet lessee will be responsible for maintaining the primary passenger, baggage and cargo liability insurance relating to operation under the wet lease, and (d) LESSEE complies with Article 18.8.
Wet Leases. A Sub-Lease which is a wet lease shall satisfy the following conditions:
(a) The Aircraft shall be operated solely by cockpit personnel under the operational control the Portfolio Lessee possessing all certificates and licenses that are required by applicable law.
(b) The Aircraft shall be subject to insurance coverage which complies with the requirements of this Agreement and the Portfolio Lease.
(c) The Aircraft shall be maintained by the Portfolio Lessee in accordance with requirements of the Portfolio Lease.
(d) The Aircraft shall not be subject to any change in the State of Registration.
(e) The term of the wet lease shall not exceed the term of the Portfolio Lease. To: [ ] as Agent From: AVOLON AEROSPACE LEASING LIMITED Dated: Dear Sirs
1. We refer to the Agreement. This is a Compliance Certificate. Terms defined in the Agreement have the same meaning when used in this Compliance Certificate unless given a different meaning in this Compliance Certificate.
2. We confirm that as of [—]:
2.1 the Consolidated Tangible Net Worth of the Guarantor is $[—]; and
2.2 the Free Cash of the Guarantor is $[—]. Accordingly, we hereby represent and warrant that the Guarantor is in compliance with the Financial Covenants set out in Clause 20.22 (Financial Covenants) of the Facility Agreement. Signed: Director of Avolon Aerospace Leasing Limited To: [ ] as Agent From: AVOLON AEROSPACE LEASING LIMITED Dated: Dear Sirs
1. We refer to the Agreement. Terms defined in the Agreement have the same meaning when used in this Utilisation Certificate unless given a different meaning herein.
2. We are giving this Utilisation Certificate pursuant to Clause 4.3.4 of the Agreement, as a condition to the Utilisation attributable to [following Aircraft, being the Identified Aircraft with reference [—], as set out in Schedule 2 (The Identified Aircraft) of the Agreement.]/[the following Unidentified Aircraft: [Insert Aircraft Details] (the “Aircraft”)
3. I hereby certify that:
(a) as of the date hereof, each Subordinated Contribution to be made in respect of such Aircraft which falls within part (i) of the definition thereof has been made by the relevant Subordinated Party;
(b) each Subordinated Contribution to be made in respect of such Aircraft which falls within part (ii) of the definition thereof, will be made by the relevant Subordinated Party immediately after the Utilisation of the Loan attributable to the Aircraft; and
(c) on the Utilisation Date for the Loan attributable to th...
Wet Leases. 4.03. 1 Notwithstanding the above paragraphs, wet leases or charters may be ente red into by the Company under the circu mstances listed below:
a) To carry out flying on a temporary basis due to a lack of available aircraft for reasons beyond the Company's control (for example, weather conditions, mechanical failures, acts of God , delay of aircraft delivery, unanticipated shortage of Flight Crew Members, etc.). The Company may enter into wet leases or charters for a period of up to six (6) months provided such does not result in the layoff of seniority listed pilots. Any wet leases or charters beyond six (6) months will be by mutual agreement between the Company and the Union with such agreement not being unreasonably withheld by either party.
b) In the event of new types of aircraft are procured or new business opportu nities are being explored by the Company experimental or otherwise. The Company may enter into wet leases or charters for a period of up to twelve (1 2) months provided such does not result in the layoff of seniority listed pilots. Any wet leases or charters beyond twelve (1 2) months will be by mutual agreement between the Company and the Union with such agreement not being un reasonably withheld by either party. The Company shall advise the Union in writing of any wet lease as soon as practical.
Wet Leases. AirTran shall have the option of wet leasing from Sellers, on a dedicated basis, during an interim period commencing on January 11, 2005, and ending on a date to be specified by AirTran, on or about June 4, 2005, such of Sellers’ B-737-800 aircraft, up to twelve in number, as AirTran may determine, but in all respects subject to Sellers’ obtaining the Return Accommodations. AirTran shall provide to Sellers as promptly as practicable after the Execution Date an initial indication of the number, if any, of B-737-800 aircraft AirTran tentatively would elect to take on Wet Leases and within 30-days after the Execution Date, notify Sellers of AirTran’s final determination of the B-737-800 aircraft, if any, it elects to take on Wet Leases as specified by AirTran (such aircraft, the “Wet Leased Aircraft”). Such notice shall specify the identity of and number (not to exceed 12) of the Wet Leased Aircraft to be outstanding during each month of the Wet Lease term after Closing. The Wet Leases, if any, shall be at the rental determined below plus the monthly Agreed Lessor Rent Payments payable to the lessor of such Wet Leased Aircraft and of MCPH Payments to be made to GE Engine Services, Inc. (or equivalent engine maintenance reserve payments to the lessor if the lessor so elects) with respect to such Wet Leased Aircraft, such Agreed Lessor Rent Payments to be made directly by AirTran to the aircraft lessor and MCPH Payments to be made directly by AirTran to GE Engine Services, Inc. (or equivalent engine maintenance reserve payments to the lessor if the lessor so elects). Sellers agree to cooperate reasonably and in good faith with AirTran and jointly work with Sellers’ B-737-800 lessors on return schedules and other terms related to rejection or termination of Sellers’ leases of the Wet Leased Aircraft that will accommodate continued leasing of the Wet Leased Aircraft for the period (i) from December 24, 2004, to January 11, 2005, and (ii) for the period of the Wet Leases from January 11, 2005, to the end of the Wet Leases and which terms and arrangements with respect to the period from January 11, 2005, to the end of the Wet Leases will not create any post-petition claim (administrative or otherwise) against either of Sellers or any subsidiary of Holdings, by reason of the Agreed Lessor Rent Payments being less than the actual rent which would have otherwise been payable by ATA under the terms of its existing leases for the Wet Leased Aircraft for the same period ...
