Common use of WITHDRAWAL OF NOTICE OF TERMINATION Clause in Contracts

WITHDRAWAL OF NOTICE OF TERMINATION. (a) So long as Lessor has not elected to retain the Aircraft pursuant to ss. 9.1, Lessee may withdraw any notice given pursuant to ss. 9.1 at any time on or before the date five Business Days before the proposed Termination Date, whereupon this Lease shall continue in full force and effect and all of Lessee's obligations shall continue, including its obligation to pay Rent, in each case as if the notice under ss. 9.1 were not given, and Lessee may give another notice pursuant to ss. 9.1; PROVIDED, that Lessee shall not be entitled to give more than three termination notices pursuant to ss. 9.1 during the Term. (b) Lessee shall pay, on an after-tax basis, all reasonable out-of-pocket fees and expenses of Lessor (including reasonable fees and expenses of counsel) and Owner Participant in connection with any notice of termination withdrawn by Lessee or in connection with any notice of termination pursuant to which a sale of the Aircraft fails to occur.

Appears in 2 contracts

Samples: Financing Agreement (Amtran Inc), Lease Agreement (Amtran Inc)

AutoNDA by SimpleDocs

WITHDRAWAL OF NOTICE OF TERMINATION. (a) So long as Lessor has not elected to retain the Aircraft pursuant to ss. 9.1, Lessee may withdraw withdraW any notice given pursuant to ss. 9.1 at any time on or before the date five Business Days before the proposed proposeD Termination Date, whereupon this Lease shall continue in full force and effect and all of Lessee's obligations shall continue, including its obligation to pay Rent, in each case as if the notice under ss. 9.1 were not given, and Lessee may give another notice pursuant to ss. . 9.1; PROVIDED, that Lessee shall not be entitled to give more morE than three termination notices pursuant to ss. 9.1 during the Term. (b) Lessee shall pay, on an after-tax basis, all reasonable out-of-pocket fees and expenses of Lessor (including reasonable fees and expenses of counsel) ), Mortgagee, and Owner Participant in connection with any notice of termination withdrawn by Lessee or in connection with any notice of termination pursuant to which a sale of the Aircraft fails to occur.

Appears in 2 contracts

Samples: Financing Agreement (Amtran Inc), Lease Agreement (Amtran Inc)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!