Engine Supplemental Rent definition

Engine Supplemental Rent means all Supplemental Rent payable by Lessee pursuant to Clause (c) below.

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Engine Supplemental Rent. As set forth on Schedule A

Engine Supplemental Rent. Notwithstanding the provisions of Section 5.4(a) of the Common Terms Agreement, Lessee shall not be required to pay Engine Supplemental Rent in relation to each calendar month in respect of the leasing of the Engine. Instead, on the Expiry Date, Lessee shall pay Lessor an amount equal to the Engine Supplemental Rent Rate multiplied by the number of Engine Flight Hours operated by the Engine during the Term since new or, if later, since the last Engine Full Performance Restoration Shop Visit. For the avoidance of doubt, paragraphs (b) and (c) of Section 5.4 of the Common Terms Agreement apply to Engine Supplemental Rent payable by Lessee under this Engine Lease Agreement. For the avoidance of doubt, the provisions of Section 7.2(a)(ii)(Engine Refurbishment) of the Common Terms Agreement shall not apply with respect to any Engine Supplemental Rent payments made by Lessee. ENGINE LEASE AGREEMENT 13

Examples of Engine Supplemental Rent in a sentence

No Engine Event of Loss covered by this Clause 11.1(c) shall result in any reduction in Rent or affect Lessee's obligation to pay Engine Supplemental Rent or the amount thereof to be paid by Lessee.
Lessor and Lessee acknowledge that the Engine Supplemental Rent rate and the Engine LLP Supplemental Rent rate are based upon the assumption that the Engine will operate on an Assumed Ratio.
Lessor and Lessee acknowledge that the Aircraft Lease Agreement may provide that the Engine Supplemental Rent rate and the Engine LLP Supplemental Rent rate are based upon the assumption that the Aircraft will operate on an Assumed Ratio.
In the event that Engine Supplemental Rent is paid in respect of the Engine, Lessor and Lessee agree to negotiate in good faith, following Lessee's issuance of a Notice, whether the amount (if any) that remains in the Engine Supplemental Rent account for such Engine shall be paid over to Lessee, retained by Lessor or shared by Lessor and Lessee following satisfaction of the conditions set forth in the preceding sentence.
If that assumption proves to incorrect by more than ***** at any time for a period of ***** consecutive months during the Term based upon Lessee’s actual operating experience during such ***** months, Lessor may make, and notify Lessee of, such adjustment as Lessor determines is necessary in its reasonable discretion to maintain the rates of Engine Supplemental Rent at levels which accurately reflect the costs associated with obtaining relevant maintenance services at prevailing industry rates.
Any adjustment which requires an increase in the amounts held as Engine LLP Supplemental Rent and the Engine Supplemental Rent shall be promptly paid by Lessee to Lessor in cash.
Any adjustment which requires a decrease in amounts held as Engine LLP Supplemental Rent and/or Engine Supplemental Rent shall be effected, so long as no Default or Event of Default is then in existence by Lessor abating Lessee's payment of Engine LLP Supplemental Rent and/or Engine Supplemental Rent in respect of such replacement Engine until the amounts of Engine LLP Supplemental Rent and/or Engine Supplemental Rent correspond to the status of the replacement Engine.
If actual hour to cycle ratio falls outside the specific ratios set forth in the Assumed Ratio Adjustment Table in Schedule 7, then the Engine Supplemental Rent Adjusted Value shall be determined by extrapolating (or interpolating) from (or between) the nearest observed values in the table.
If the Engine Lease Agreement does not include a table showing the adjustment that should be made in respect of Engine Supplemental Rent or Engine LLP Supplemental Rent (as the case may be) for changes in the Assumed Ratio, then no such adjustment shall be made.
Lessor and Lessee acknowledge that the Engine Supplemental Rent rate and the Engine LLP Supplemental Rent rate are based upon the assumption that the Aircraft will operate on an Assumed Ratio.

More Definitions of Engine Supplemental Rent

Engine Supplemental Rent has the meaning given in the Aircraft Lease Agreement.

Engine Supplemental Rent means in respect of each Engine, the amount identified in the Aircraft Lease Agreement for each Engine Flight Hour (or fraction thereof) operated by that Engine.

Engine Supplemental Rent means in respect of each Engine, [*] for each Engine Flight Hour (or fraction thereof) operated by that Engine during that calendar month or any part of such calendar month during the Term.

Engine Supplemental Rent has the meaning given in Part V of Schedule B to the Engine Lease Agreement.

Engine Supplemental Rent has the meaning specified in Clause 5.4(a)(iii).