Examples of Fleet Hour Agreement in a sentence
Any such event shall also be considered ineligible against any warranties or guarantees provided by IAE and resulting repairs and part replacements shall be carried out and charged as Excess Work under the applicable IAE Fleet Hour Agreement.
The Fleet Hour Agreement is a comprehensive maintenance plan that provides the off-wing maintenance for the V2500 Engines for Spirit’s covered Aircraft further providing Spirit with assured low maintenance costs, reliability and predictability.
IAE shall have the right to set off credits from time to time made available by IAE under the Contract either directly to AAH (or its affiliates) or via the Aircraft Manufacturer or its affiliates, in respect of the failure by AAH (or its affiliates), after any applicable grace period, to cure any payment default under (x) the Contract, (y) the Fleet Hour Agreement, or (z) the IAE Financing Agreement.
Spirit has agreed to enter into a mutually acceptable Fleet Hour Agreement with IAE subject to IAE’ s agreement to enter into mutually acceptable Tripartite Agreements (or equivalent) between Spirit, IAE and applicable Spirit lessors, as necessary, and acknowledges that IAE’ s entire financial and technical package to Spirit is predicated on this basis.
RRFHSA: collectively, the Fleet Support Agreement, reference H025.01.00, dated as of March 30, 2000, as amended, between the Lessee and the Engine Manufacturer, the Fleet Hour Agreement, reference H025.01.02, dated as of March 30, 2000, as amended, between the Lessee and the Engine Manufacturer or any successor agreement approved by the Lessor.
Lessee shall notify Lessor in writing not less than fifteen (15) days prior to any proposed amendment or modification of the ENGINE LEASE AGREEMENT Fleet Hour Agreement during the Term.
In addition to the Events of Default set forth in Schedule 9 of the CTA, it shall be an Event of Default if Lessee amends, supplements, extends or replaces the Fleet Hour Agreement during the Term without first obtaining Lessor's written consent and in Lessor's reasonable judgement such amendment, supplement, extension or replacement is adverse to the interests of Lessor in any material respect.
AAH shall advise IAE in writing of the optional coverages selected at the time that AAH advises IAE that it elects this FHA from the various alternatives granted AAH in the Support Contract (i.e., Parts Cost Plan or Maintenance Cost Guarantee or Fleet Hour Agreement).
The obligation of IAE to provide any of the benefits pursuant to the terms hereof, shall be subject to there being no default that has occurred and is continuing with respect to any of Spirit’s material obligations under the Contract or any Side Letter thereto or the Fleet Hour Agreement (“FHA”) between IAE and Spirit.
IAE and ACA agree to enter into non-exclusive good faith negotiations prior to or following the execution of this Side Letter to reach mutually agreeable Fleet Hour Agreement ("FHA") terms to address, among other things, FHA coverage for the Leased Aircraft, lessor return conditions and variable lease terms.