Lease Periods definition

Lease Periods means those times, if any, when the Aircraft is being utilized by Lessee hereunder, with the consent of Lessor as provided in Section 1(e), for flight operations conducted by Lessee under Part 91 of the Federal Aviation Regulations (“FARs”), including any deadhead, ferry or repositioning flights to return the Aircraft to the airport at which the Lease Period commenced or to position the Aircraft for a Lessee trip at a remote location away from Republic Airport, Farmingdale, New York (KFRG), but excluding any deadhead, ferry and repositioning flights described in Section 1(b) below (“Lessee Flights”). Lessee’s right to use the Aircraft hereunder during the Term shall be non-exclusive and is subject in all respects to (i) Lessor’s right to use the Aircraft at all times during the Term other than during such Lease Periods and (ii) Lessor’s right to permit other non-exclusive lessees to use the Aircraft under their operational control and possession, command and control

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Lease Periods means the periods identified under the column heading “Lease Periods” on Exhibit A-2 to the Facility Lease.

Lease Periods means those times, if any, when the Aircraft is being utilized by Lessee hereunder, with the consent of Lessor as provided in Section 1(e), for flight operations conducted by Lessee under Part 91 of the Federal Aviation Regulations, including any deadhead, ferry or repositioning flights to return the Aircraft to the airport at which the Lease Period commenced or to pick up Lessee’s passengers at a remote location away from Republic Airport, Farmingdale, New York (FRG), but excluding any deadhead, ferry and repositioning flights described in Section 1(b) below (“Lessee Flights”). Lessee’s right to use the Aircraft hereunder during the Term shall be non-exclusive and is subject in all respects to Lessor’s right to use the Aircraft at all times during the Term other than during such Lease Periods under its exclusive operational control and possession, command and control and Lessor’s right to permit other non-exclusive lessees to use the Aircraft under their operational control and possession, command and control. Lessor acknowledges and agrees that Lessee has entered into an Aircraft Management Agreement with CSC Transport, Inc. pursuant to which CSC Transport, Inc. provides certain aircraft management services to support Lessee’s operation of the Aircraft under its operational control during Lease Periods.

Examples of Lease Periods in a sentence

Lessee shall pay the cost of hangaring the Aircraft at remote locations during any Lease Periods hereunder.
Lessee shall have complete and exclusive responsibility for scheduling, dispatching and flight following of the Aircraft on all flights conducted during Lease Periods under this Lease, which responsibility includes the sole and exclusive right over initiating, conducting and terminating any such flights.
Lessor shall lease the Aircraft to Lessee, and Lessee shall lease the Aircraft from Lessor, during all Lease Periods throughout the Term (as defined in Section 12) of this Lease as provided hereunder.
Lessee shall pay all taxes, assessments, and charges imposed by any Federal, state, municipal or other public authority upon or relating to the rental, use or operation of the Aircraft by Lessee during the Lease Periods (including any sales or use tax imposed by the State of New York on any lease payment hereunder), other than income taxes of Lessor.
Lessee shall have no operational control over any flights of the Aircraft not conducted during Lease Periods under this Lease.
This Agreement contemplates use of the Aircraft by Lessee for one or more Lease Periods.
Lessee’s right to use the Aircraft hereunder during the Term shall be non-exclusive and is subject in all respects to Lessor’s right to use the Aircraft at all times during the Term other than during such Lease Periods under its exclusive operational control and possession, command and control and Lessor’s right to permit other non-exclusive lessees to use the Aircraft under their operational control and possession, command and control.
Lessee shall have no operational control over, nor any responsibility for scheduling, dispatching or flight following of, any flights of the Aircraft not conducted during Lease Periods under this Lease, nor any right over initiating, conducting or terminating any such flights.
It is the intention of Lessor and Lessee that (x) the allocations of Basic Rent set forth on Schedule 3-B to the Participation Agreement constitute specific allocations of fixed rent within the meaning of Treasury Regulation Section 1.467-1(c)(2)(ii) and (y) the first three Lease Periods shall constitute a rent holiday to which no Basic Rent is allocated.
Basic Rent shall be allocated to each Lease Period in the amounts set forth for such Lease Period on Exhibit B-2 under the caption "Basic Rent Allocation." Each installment of Basic Rent shall be allocated to the Lease Period(s) specified under the caption "Timing of Payments of Allocated Rent" on Exhibit B-2.

More Definitions of Lease Periods

Lease Periods are calculated from the Rent Commencement Date. For avoidance of doubt purposes, the parties acknowledge that: (i) Tenant shall not pay Base Rent or Additional Rent for the Phase I Space until the Phase II Space is delivered to Tenant (i.e., the Rent Commencement Date); and (ii) Tenant shall pay Base Rent and Additional Rent for the entire Premises on and after the Rent Commencement, notwithstanding that the delivery of the Phase III Space will not be until sometime after that date. **The Installment Amounts reflect the stated amount of Base Rent payment to be paid by Tenant each month of the Term and the Payment Amounts reflect the actual amount of Base Rent payment to be paid by Tenant each month of the Term after factoring in the Rent Abatement.