Life Limited Parts or “LLPs” shall mean the Parts identified in Chapter 5 of the V2500-A5 Engine Manual as having specific life limits.
Life Limited Parts means those rotating Parts which have a Parts Life Limit. For purposes of this Agreement, LLPs do not include static, non-rotating LLPs.
Life Limited Parts. Payment for Engine life limited part ("LLP") replacements shall be adjusted on redelivery for the pro-rata value of any LLP changes accomplished during the Term based on the then current Xxxxx & Xxxxxxx catalogue prices in accordance with the following: (aa) to the extent that, on the Expiry Date, there are more Cycles flown on any LLP as compared with the condition of such LLP on the Delivery Date, then Lessee shall pay compensation to Lessor in an amount equal to the relevant LLP cycle cost (defined for 2000 in Schedule 7 and as amended over time by manufacturer's price list and which in the aggregate for 2000 is US$38.00 per Cycle) multiplied by the number of Cycles in the difference; or -------------- (bb) to the extent that, on the Expiry Date, there are less Cycles flown on any LLP as compared with the condition of such LLP on the Delivery Date, then Lessor shall pay compensation to Lessee in an amount equal to the relevant LLP cycle cost (defined as per (aa) above) multiplied by the number of Cycles in the ------------- difference. Lessor shall consent to the workscope for the last Engine shop visit in order to avoid a situation where, on redelivery of the Aircraft, the Engines would have a materially greater remaining life until overhaul than they had at the Delivery Date. Upon any default by Lessor of its obligation to pay any compensation due to Lessee pursuant to Clause 2(b)(i)(bb) or Clause 2(b)(ii)(bb) of this Schedule 5, Lessee shall have the right, at its expense, to remove from the Aircraft the Engine or Engines (each such Engine so removed, a "Replaced Engine") giving rise to such payment obligation and to replace such Replaced Engine with an engine that complies with Clause 8.13(a) of the Agreement and this Schedule 5 (a "Replacement Engine") in order to avoid or reduce the amount of the compensation due to Lessee hereunder. Upon any such removal and replacement of a Replaced Engine, Lessee shall convey or cause to be conveyed to Lessor title to the Replacement Engine, free and clear of all Security Interests other than Permitted Liens. Prior to or at the time of any such conveyance, Lessee shall (i) furnish Lessor with a xxxx of sale with respect to the Replacement Engine and (ii) take such other action and furnish such other certificates and documents as Lessor may reasonably require in order to ensure that the Replacement Engine is duly and properly conveyed to Lessor. Upon full compliance with this Clause 2(b), title to each Replaced ...
Examples of Life Limited Parts in a sentence
If the Aircraft Lease Agreement specifies a Minimum APU LLP Limit, APU Life Limited Parts shall have not less than the Minimum APU LLP Limit of useful life remaining on average.
Lessor agrees to abatx xxxporarily Lessee's obligation to pay Supplemental Rent towards specific Engine Refurbishment and Life Limited Parts in cases where the Lessee uses its own funds ("OUT-OF-POCKET EXPENSES") to pay for respective Engine overhauls during the Term.
A separate Engine Life Limited Parts Reserve shall be established and maintained separately for each Engine and the same shall not be cumulated or netted.
If, after the allotted five (5) working days, the records are not complete, ESI will assume that the time and cycles as specified in Buyer supplied historical information have expired on all Life Limited Parts for which there is a lack of record ***.
The shop visit is necessary to replace Life Limited Parts ("LLP").
More Definitions of Life Limited Parts
Life Limited Parts or “LLP” means any Part listed in Schedule 2 of Exhibit C.
Life Limited Parts means those parts which have a specific hour, cycle and/or calendar life limit as specified by the Manufacturer.
Life Limited Parts means any Part requiring replacement, overhaul, bench check or other action that necessitates removal of such Part from the Aircraft on a time (flight hours, cycle or calendar) specified basis as defined by the type certificate, the MPD, the Maintenance Program or the Maintenance Manual of the Airframe Manufacturer or Engine Manufacturer.
Life Limited Parts means one or more, as the case may be, Parts which must be removed from an Engine, a Spare Engine, an APU or a Spare APU upon having been in such Engine, Spare Engine, APU or Spare APU for the maximum permissible calendar time, flight cycles or flight hours specified for such Part by its manufacturer.
Life Limited Parts means Engine Parts for which either Rolls-Royce or the Airworthiness Authority has established a maximum period of operational Flight Cycles with periodic Rework and/or restoration.
Life Limited Parts means the parts that have expiry life expressed in number of calendar time, operating hours or cycles.
Life Limited Parts or "LLPs" refer to those FMP Eligible Engine parts defined as such in the Airworthiness Limitation section of the applicable Production Approval Holders manual.