Airframe Reserves definition

Airframe Reserves. “Engine Performance Restoration Reserves”, “Engine LLP Reserves”, “Landing Gear Reserves” and “APU Reserves”, and collectively “Reserves”): Airframe Reserves: US$ per calendar month Engine Performance Restoration Reserves: US$ per Engine flight hour for each Engine (payable when the Engine is utilized on the Aircraft or another aircraft) Engine LLP Reserves: US$ per Engine cycle for each Engine (payable when the Engine is utilized on the Aircraft or another aircraft) Landing Gear Reserves: US$ per calendar month APU Reserves: US$ per APU hour (payable when the APU is utilized on the Aircraft or another aircraft)
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Airframe Reserves. Each Owner shall pay the sum of Two Hundred Dollars (U.S. $200) per Flight Hour incurred by such Owner, towards the Aircraft airframe reserves ("Airframe Reserves"). Airframe Reserves shall be collected and maintained by ALLETE in a separate, interest-bearing account, at a financial institution. The Airframe Reserves shall be applied to extraordinary expenses associated with non-reimbursed damage occurring to the airframe, Aircraft paint or interior, or avionics and navigation upgrades (collectively, "Airframe Costs"). The Airframe Reserves are amounts in addition to other costs and expenses provided for elsewhere in this Section 6. To the extent that the Airframe Costs, in any quarter, exceed the amount in the Airframe Reserves, each Owner shall contribute to such Airframe Costs in proportion to the Owner's Ownership Interest in the Aircraft, as set forth in Section 1.2 above. If, at any time, ALLETE determines that the Airframe Reserves will exceed $500,000 after paying all Airframe Costs, ALLETE will refund any Airframe Reserves amount in excess of $500,000 to the Owners in proportion to each Owner's Ownership Interest, and will not invoice the Owners for the Airframe Reserves amount until such time as the Airframe Reserves account balance is less than $500,000. If, after the effective date of any termination of this Agreement, there remains a balance in the Airframe Reserves account after paying all Airframe Costs, the balance shall be divided equally between the Owners.
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Airframe Reserves and "Engine Reserves", and collectively "Reserves"): A total of US$ 245, as follows: Airframe Reserve: US$ 75 per airframe flight hour Engine Reserve: US$ 85 per Engine per flight hour (payable when the Engine is utilized on the Aircraft or another aircraft)
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Examples of Airframe Reserves in a sentence

  • LESSEE may only seek reimbursement from the Airframe Reserves one time in any calendar year.

  • The Reserve Interest shall form a part of the Airframe Reserves, Engine Reserves and Landing Gear Reserves, respectively.

  • All Reserves paid by LESSEE to LESSOR will be held by LESSOR in separate accounts for each of the Airframe Reserves, Engine Reserves and Landing Gear Reserves, respectively, and shall be disbursed by LESSOR only to pay for Covered Maintenance pursuant to Section 7(D) hereof.

  • LESSEE shall pay to LESSOR, on each Maintenance Reserve Date, the Airframe Reserves, the Engine Reserves and the Landing Gear Reserves for the previous Rent Period (each a "Reserve" and collectively, the "Reserves").

  • LESSOR will reimburse LESSEE the Airframe Reserves (6 Year Check) that have accrued in such account from Delivery to the commencement date of the “6Y” check for which reimbursement is requested.

  • In the event that LESSEE performs a “12Y” check on the Aircraft (including as part of a Return Check pursuant to Article 23.10.1), LESSOR will reimburse LESSEE ***** of the Airframe Reserves (12 Year Check) and Airframe Reserves (6 Year Check) that have accrued and remain in such accounts on the commencement date of the “12Y” check for which reimbursement is requested.

  • ALLETE will prepare monthly ▇▇▇▇▇▇▇▇ for the per-Flight Hour estimated Variable Operating Costs plus Airframe Reserves amounts for all Flight Hours scheduled, and not cancelled, by each Owner in the preceding month.

  • As a result, the parties agree that the Airframe Reserves are not reimburseable to LESSEE hereunder and that LESSOR will retain all Airframe Reserves paid by LESSEE; provided, however, in the event of the Total Loss of the Aircraft, fifty percent (50%) of the Airframe Reserves held by LESSOR will be retained by LESSOR and the remaining portion of such Reserves will be paid to LESSEE in accordance with Article 19.9.

  • The Airframe Reserves payable by LESSEE hereunder will be retained by LESSOR as LESSEE's contribution toward payment of the cost of performance of the "C7"inspection and the 22,400 flight hour structural inspection of the Aircraft pursuant to the MPD.

  • The resulting amount plus the Airframe Reserves amount (as set forth in Section 6.1(d) above) shall be charged to each Owner for each Flight Hour scheduled, and not cancelled, by such Owner.

Related to Airframe Reserves

  • Receivables Reserves mean such reserves as may be established from time to time by the Administrative Agent in the Administrative Agent’s Permitted Discretion with respect to the determination of the collectability in the ordinary course of Eligible Accounts Receivables, including, without limitation, reserves for dilution.

  • Receivable Reserves means, as of any date of determination, those reserves that Agent deems necessary or appropriate, in its Permitted Discretion and subject to Section 2.1(c), to establish and maintain (including Landlord Reserves for books and records locations and reserves for rebates, discounts, warranty claims, and returns) with respect to the Eligible Accounts or the Maximum Revolver Amount.

  • FF&E Reserve shall have the meaning given such term in Section 5.1.2(a).

  • Availability Reserves means, without duplication of any other Reserves or items that are otherwise addressed or excluded through eligibility criteria, such reserves as the Agent from time to time determines in its discretion as being appropriate (a) to reflect the impediments to the Agent’s ability to realize upon the Collateral, (b) to reflect claims and liabilities that the Agent determines may need to be satisfied in connection with the realization upon the Collateral, (c) to reflect criteria, events, conditions, contingencies or risks which the Agent believes in good faith could adversely affect any component of the Borrowing Base, or the assets, business, financial performance or financial condition of any Loan Party, or (d) to reflect that a Default or an Event of Default then exists. Without limiting the generality of the foregoing, Availability Reserves may include, in the Agent’s discretion, (but are not limited to) reserves based on: (i) rent; (ii) customs duties, and other costs to release Inventory which is being imported into the United States; (iii) outstanding Taxes and other governmental charges, including, without limitation, ad valorem, real estate, personal property, sales, claims of the PBGC and other Taxes which may have priority over the interests of the Agent in the Collateral; (iv) salaries, wages and benefits due to employees of any Borrower, (v) Customer Credit Liabilities, (vi) customer deposits, (viii) reserves for reasonably anticipated changes in the Appraised Value of Eligible Inventory between appraisals, (viii) warehousemen’s or bailee’s charges and other Permitted Encumbrances which may have priority over the interests of the Agent in the Collateral, (ix) amounts due to vendors on account of consigned goods, (x) Cash Management Reserves, (xi) Bank Products Reserves and (xii) royalties payable in respect of licensed merchandise.

  • free reserves means such reserves which, as per the latest audited balance sheet of a company, are available for distribution as dividend: