Covered Maintenance definition

Covered Maintenance shall have the meaning set forth in Section 7(D)(iii) hereof.
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Covered Maintenance means, at any time, (1) the structural inspection portion (including CPCP) of the 15,000 Hour and 30,000 Hour (or their equivalent) maintenance checks under the Maintenance Program, (2) the performance restoration or replacement of life limited parts or permanent repair of on-condition parts in the bare Engine during completed shop visits and (3) the full refurbishment of the landing gear (excluding maintenance in respect of compliance with airworthiness directives and elective parts replacement), respectively, pursuant to the Maintenance Program including, in each case, without limitation, associated inspections, breakdown and assembly occurring during such overhauls. The cost of Covered Maintenance shall be limited to the actual cost of replacement parts plus the cost of the associated labor at LESSEE's in-house labor rates if the work is performed by LESSEE, excluding any LESSEE charges for handling, packaging and shipping, or at third-party cost charged to LESSEE if the work is performed by third parties, and shall in no event include late charges, interest or other similar amounts as a result of late payment.
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Covered Maintenance means, with respect to any Airframe, Engine, or life limited Part, any scheduled mid-life inspection, overhaul or replacement which is required under the manufacturer's approved maintenance program (but excluding any maintenance required as a result of foreign object damage, mishandling, faulty maintenance, accidental damage, abuse, modification or alteration, or any cost which is covered by insurance or warranty); PROVIDED, HOWEVER, that the cost of Covered Maintenance shall be limited to the actual cost of replacement parts plus labor costs charged to the Mortgagor and shall in no event include late charges, interest or other
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Examples of Covered Maintenance in a sentence

  • The maintenance costs covered by the Program shall be the costs (as more fully defined herein) of labor performed and materials used in the airframe, airframe component and engine line maintenance of the Covered Aircraft where the maintenance is performed as part of a maintenance program approved by Customer’s regulatory authority (Covered Maintenance).

  • 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.

  • Upon the termination of the Lease with respect to the Aircraft, provided LESSEE has complied with Section 17 hereof and no Default or Related Lease Default has occurred and is continuing, all Reserves held by LESSOR and not used to reimburse LESSEE for Covered Maintenance shall become the property of LESSEE.

  • Covered Maintenance Services do not include the costs of accessories and expendable supplies necessary to operate the Software, such as magnetic tape cards, optical disks, disk packs, paper, and similar items, and such items are not provided free of charge by Contractor hereunder.

  • Excluded from Covered Maintenance shall be overhaul or repairs caused by F.O.D, operational mishandling or by events that can be insured against.

  • The cost of Covered Maintenance shall be limited to the actual cost of replacement parts plus the cost of the associated labor at LESSEE's in-house labor rates if the work is performed by LESSEE, excluding any LESSEE charges for handling, packaging and shipping, or at third-party cost charged to LESSEE if the work is performed by third parties, and shall in no event include late charges, interest or other similar amounts as a result of late payment.

  • The cost of Covered Maintenance shall be limited to the actual cost of replacement parts plus the cost of the associated labor at LESSEE's in-house labor rates if the work is performed by LESSEE, or at third-party costs charged to LESSEE if the work is performed by third parties, and shall in no event include, late charges, interest, ▇▇▇▇-ups or premium charges by LESSEE or other similar amounts.

  • As referenced above, all periods of Covered Maintenance (defined below), under this Section 2, shall be excluded from the calculation of total minutes (fractional minutes being rounded up) potentially available in a Service Period (contributing to any Excluded Periods in the Availability Calculations).

  • Covered Maintenance Services do not include the costs of accessories and expendable supplies necessary to operate the Software, such as magnetic tape cards, optical disks, disk packs, paper, and similar items, and such items are not provided free of charge by PTG hereunder.

  • Nothing mentioned in this section shall constitute a waiver by you of any rights under applicable federal or state securities laws including, without limitation, the Advisers Act.