Correction Costs definition
Correction Costs. Customer's direct labor costs and the cost of any material required to correct a Flight Discrepancy where direct labor costs are equal to the warranty labor rate in effect between the parties at the time such labor is expended. Flight Discrepancy: A failure or malfunction of an Aircraft, or the accessories, equipment or parts installed on the Aircraft which results from a defect in the Aircraft, Boeing Product, engine or Supplier Product or a nonconformance to the Detail Specification for the Aircraft. The AGTA provides that each aircraft will be test flown prior to delivery for the purpose of demonstrating the functioning of such Aircraft and its equipment to Customer; however, Customer may elect to waive this test flight. For each test flight waived, Boeing agrees to provide Customer an amount of jet fuel at delivery that, in addition to the standard fuel entitlement, totals the following amount of fuel: ------------------------------------------------------------------------- Aircraft Model Total Fuel Entitlement (U.S. Gallons) ------------------------------------------------------------------------- 737 Full tank ------------------------------------------------------------------------- 747 22,000 ------------------------------------------------------------------------- 757 8,000 ------------------------------------------------------------------------- 767 9,000 ------------------------------------------------------------------------- 777 14,000 -------------------------------------------------------------------------
Correction Costs. Customer's or a third party's direct labor costs and the cost of any material required to correct a Flight Discrepancy where direct labor costs are equal to the warranty labor rate in effect between the parties at the time such labor is expended. Flight Discrepancy: A failure or malfunction of an Aircraft, or the accessories, equipment or parts installed on the Aircraft which results from a defect in the Aircraft, Boeing Product, engine or Supplier Product or a nonconformance to the Detail Specification for the Aircraft. The AGTA provides that each aircraft will be test flown prior to delivery for the purpose of demonstrating the functioning of such Aircraft and its equipment to Customer; however, Customer may elect to waive this test flight. For each test flight waived, Boeing agrees to provide Customer an amount of jet fuel at delivery that, together with the standard fuel entitlement, totals [CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT] U.S. gallons. Further, Boeing agrees to reimburse Customer for any Correction Costs incurred as a result of the discovery of a Flight Discrepancy during the first flight of the aircraft by Customer following delivery to the extent such Correction Costs are not covered under a warranty provided by Boeing, the engine manufacturer or any of Boeing's suppliers. Should a Flight Discrepancy be detected by Customer which requires the return of the Aircraft to Boeing's facilities at Seattle, Washington, so that Boeing may correct such Flight Discrepancy, Boeing and Customer agree that title to and risk of loss of such Aircraft will remain with Customer. Any such correction by Boeing shall be at no cost to Customer. In addition, it is agreed that Boeing will have responsibility for the Aircraft while it is on the ground at Boeing's facilities in Seattle, Washington, as is chargeable by law to a bailee for mutual benefit, but Boeing shall not be chargeable for loss of use. To be reimbursed for Correction Costs, Customer shall submit a written itemized statement describing any flight discrepancies and indicating the Correction Cost incurred by Customer for each discrepancy. This request must be submitted to Boeing's Contracts Regional Director at Renton, Washington, within ninety (90) days after the first flight by Customer. Very truly yours, THE BOEING COMPANY By /s/ Gunar O. Clem Its Attorney-In-Fa▇▇ ACCEPTED AND AGREED TO this Dat...
Correction Costs shall have the meaning set out in Section 17.3.2(i).
Examples of Correction Costs in a sentence
To be reimbursed for Correction Costs, Customer shall submit a written itemized statement describing any flight discrepancies and indicating the Correction Cost incurred by Customer for each discrepancy.
OWNER shall pay to CITY the City Correction Costs within thirty (30) days of the date of the invoice.
If payment is not made within 30 days of the date of the invoice, OWNER understands and agrees that upon non- payment, City Correction Costs may be secured by a lien on OWNER’S Property for the City Correction Cost amount plus interest and penalties.
Its sole purpose is to ensure the equitable treatment of all creditors, not a particular plaintiff.
If the Aircraft will be used promptly after its delivery for Boeing flight crew training at or near Seattle, Washington, Boeing will reimburse Buyer for any Correction Costs, and for any charges by Boeing to Buyer for labor (Boeing Labor Charges) required to correct any flight discrepancy which may be detected by Buyer during such flight crew training to the extent such Correction Costs and such Boeing Labor Charges are not covered under a warranty provided by Boeing or by any of its suppliers.
More Definitions of Correction Costs
Correction Costs has the meaning defined in “The Disposal – The SP Agreement – Post-Completion inspection” in this announcement “Directors” the directors of the Company and each a “Director”
Correction Costs. Customer's direct labor costs and the cost of any material required to correct a Flight Discrepancy where direct labor costs are equal to the warranty labor rate in effect between the parties at the time such labor is expended. Flight Discrepancy: A failure or malfunction of an Aircraft, or the accessories, equipment or parts installed on the Aircraft which results from a defect in the Aircraft, Boeing Product, engine or Supplier Product or a nonconformance to the Detail Specification for the Aircraft. The AGTA provides that each aircraft will be test flown prior to delivery for the purpose of demonstrating the functioning of such Aircraft and its equipment to Customer; however, Customer may elect to waive this test flight. For each test flight waived, Boeing agrees to provide Customer an amount of jet fuel at delivery that, including the standard fuel entitlement, totals the following amount of fuel: --------------- ------------------------------------------------- Aircraft Model Total Fuel Entitlement (U.S. Gallons) --------------- ------------------------------------------------- --------------- ------------------------------------------------- 737 Full tanks (approx. 5,300 to 6,800, depending on model) --------------- ------------------------------------------------- --------------- ------------------------------------------------- 747 26,000 --------------- ------------------------------------------------- --------------- ------------------------------------------------- 757 9,600 --------------- ------------------------------------------------- --------------- ------------------------------------------------- 767 11,000 --------------- ------------------------------------------------- --------------- ------------------------------------------------- 777 10,300 --------------- ------------------------------------------------- Further, Boeing agrees to reimburse Customer for any Correction Costs incurred as a result of the discovery of a Flight Discrepancy during the first flight of the aircraft by Customer following delivery to the extent such Correction Costs are not covered under a warranty provided by Boeing, the engine manufacturer or any of Boeing's suppliers. Should a Flight Discrepancy be detected by Customer which requires the return of the Aircraft to Boeing's facilities at Seattle, Washington, so that Boeing may correct such Flight Discrepancy, Boeing and Customer agree that title to and risk of loss of such Aircraft will remain with Custome...
Correction Costs has the meaning set forth in Section 3.3(b).
Correction Costs means all costs and expenses, including without limitation, all hard costs; construction management fees, remobilization fees and other soft costs; and lost rent (calculated on an assumed rental of $400,000 per month) that Seller reasonably estimates would be incurred or suffered by Seller if a Major Purchaser Initiated Change (hereinafter defined) is carried out, Purchaser then does not purchase the Property and Seller then must reconstitute the Improvements as an office building in accordance with the Plans and Specifications. Such costs and expenses shall include, without limitation, Seller's reasonable estimate of (i) all costs and expenses which would result from the required removal of certain non-reusable components of the Improvements which were added as a result of the Major Purchaser Initiated Change; (ii) all costs and expenses which would result from the reincorporation into the Improvements of certain components of the work set forth in the Plans and Specifications which were deleted from the Seller's Work as a result of the Major Purchaser Initiated Change; and (iii) all lost rent Seller would suffer, at an assumed rate of $400,000 per month from (x) the date which is sixty (60) days after the date on which Seller reasonably estimates the Seller's Work would have been Finally Completed (as hereinafter defined) if no Purchaser Initiated Change Orders (hereinafter defined) had been executed and (y) the date on which Seller reasonably estimates the reconstitution of the Improvements as an office building in accordance with the Plans and Specifications would be Finally Complete (assuming that such reconstitution would not begin until the day after the date of the Closing set forth in this Agreement). Notwithstanding the foregoing, the portion of any such delay which also is the subject of a Letter of Credit shall not be included in the calculation of Correction Costs.
Correction Costs. Customer's direct labor costs and the cost of any material required to correct a Flight Discrepancy where direct labor costs are equal to the warranty labor rate in effect between the parties at the time such labor is expended. FLIGHT DISCREPANCY: A failure or malfunction of an Aircraft, or the accessories, equipment or parts installed on the Aircraft which results from a defect in the Aircraft, Boeing Product, engine or Supplier Product or a nonconformance to the Detail Specification for the Aircraft. The AGTA provides that each aircraft will be test flown prior to delivery for the purpose of demonstrating the functioning of such Aircraft and its equipment to Customer; however, Customer may elect to waive this test flight. For each test flight waived, Boeing agrees to provide Customer an amount of jet fuel at delivery that, including the standard fuel entitlement, totals the following amount of fuel: AIRCRAFT TOTAL FUEL ENTITLEMENT MODEL (U.S. GALLONS) -------- ----------------------------------- 737 Full tanks (approx. 5,300 to 6,800, depending on model) Further, Boeing agrees to reimburse Customer for any Correction Costs incurred as a result of the discovery of a Flight Discrepancy during the first flight of the aircraft by Customer following delivery to the extent such Correction Costs are
Correction Costs. Customer's direct labor costs and the cost of any material required to correct a Flight Discrepancy where direct labor costs are equal to the warranty labor rate in effect between the parties at the time such labor is expended.
Correction Costs. Customer's or a third party's direct labor costs and the cost of any material required to correct a Flight Discrepancy where direct labor costs are equal to the warranty labor rate in effect between the parties at the time such labor is expended. Flight Discrepancy: A failure or malfunction of an Aircraft, or the accessories, equipment or parts installed on the Aircraft which results from a defect in the Aircraft, Boeing Product, engine or Supplier Product or a nonconformance to the Detail Specification for the Aircraft. The AGTA provides that each aircraft will be test flown prior to delivery for the purpose of demonstrating the functioning of such Aircraft and its equipment to Customer; however, Customer may elect to waive this test flight. For each test flight waived, Boeing agrees to provide Customer an amount of jet fuel at delivery that, together with the standard fuel entitlement, totals [CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT] U.S. gallons. Further, Boeing agrees to reimburse Customer for any Correction Costs incurred as a result of the discovery of a Flight Discrepancy during the first flight of the aircraft by Customer following delivery to the extent such Correction Costs are not covered under a warranty provided by Boeing, the engine manufacturer or any of Boeing's suppliers.