Engine Maintenance Agreement definition

Engine Maintenance Agreement means any maintenance of on-condition agreements in respect of an Engine between the Owner and the relevant Engine manufacturer or other maintenance provider that is not an Affiliate of the Owner.

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Engine Maintenance Agreement means a "Power-By-The-Hour" Maintenance Agreement between the Engine Manufacturer and Lessee (or other similar agreement between Lessee and any other Authorized Maintenance Performer), as approved by Lessor (with such right to approve, however, which shall not be unreasonably withheld, being limited to the lien rights granted under the agreement to such Authorized Maintenance Performer and, in regard to the first such agreement, the assignability of the agreement), in effect from time to time, which shall provide for full maintenance (other than routine day-to-day maintenance; PROVIDED, that foreign-object damage, life-limited parts, line replacement units and abuse may be excluded or separately charged) for the Engines at no cost other than standard per-cycle (or per hour) rates (I.E., excluding charges based on the current maintenance status of the Engines), all benefits of which program are generally available to qualifying air carriers located in the United States.

Examples of Engine Maintenance Agreement in a sentence

As of any date of determination, the last day of the fiscal quarter (or, if more recent, fiscal year) for which LTI has most recently filed its quarterly (or, if more recent, annual) report on Form 10-Q (or Form 10-K, if applicable) with the U.S. Securities and Exchange Commission.
Prior to the effectiveness of such an Engine Maintenance Agreement, Lessee shall continue to make payments to Engine Manufacturer pursuant to a memorandum of understanding currently in effect between Lessee and Engine Manufacturer.
Lessee shall use its best efforts to obtain the consent of Engine Manufacturer (or other applicable maintenance provider) to the Assignment of Engine Maintenance Agreement.
All prices and charges in this Agreement and all amounts due and payable hereunder are in the currency specified in the Section 22, Annex 3 – Engine Maintenance Agreement.
In the event, Customer fails to meet conditions of this Agreement required for Engine pick-up (including but not limited to payment of all invoices due before Engine Serviceable Notice Date) and pick-up the Engine within Engine pick-up timeframe as per Section16 of Annex 2 – Engine Maintenance Agreement following the Serviceability Notice Date, Service Provider will then place the Engine into storage.
These liability insurances for a combined single limit shall be specified in an amount not less than the limit specified in Section 41 of Annex 2 – Engine Maintenance Agreement for any one occurrence, and in the aggregate for products and also for third party war and allied perils coverage.
If the Engine has undergone, at a minimum, a Core Performance Restoration Workscope, and the Contractual EGT Margin is not achieved, for each degree Celsius less than the target, Service Provider shall pay to Customer or provide a credit for an amount equal to EGT Margin Remedy as specified in Section 12 of Annex 2 – Engine Maintenance Agreement for each degree below the EGT margin specified in the table above capped at EGT Margin Remedy Cap as specified in Section 12 of Annex 2.
This Agreement and any legal matters which may arise out of it or in connection herewith shall be subject to, construed and interpreted exclusively in accordance with the laws indicated in Section 44 of Annex 2 – Engine Maintenance Agreement.
Adjustment of engine test cell run shall be done in accordance to the procedure specified in the Section 28 of Annex 3 – Engine Maintenance Agreement.
All labor rates specified in the Annex 3 – Pricing and Internal Repair Catalogue pricing shall be valid until First Labor Price Adjustment Date specified in the Section 23 of Annex 3 – Engine Maintenance Agreement.

More Definitions of Engine Maintenance Agreement

Engine Maintenance Agreement means the contract entered into between Contractor and Rolls Royce Corporation, dated as of September 28, 2004 for the maintenance of the Engines, as amended and supplemented or replaced from time to time. ERJ Aircraft — means any ▇▇▇▇▇▇▇ ▇▇▇-▇▇▇ ▇▇ ▇▇▇-▇▇▇ aircraft. Event of Default — is defined in Section 8.04.