Maintenance Rent definition

Maintenance Rent means, with respect to any Pool Aircraft, maintenance reserves, maintenance rent or other supplemental rent payments based on usage in respect of such Pool Aircraft (or its engines or other parts) payable by the Lessee under the Lease for such Pool Aircraft for the purpose of paying, contributing to, reserving or calculating potential liability in respect of payments for future maintenance and repair of such Pool Aircraft, indemnity payments and any other payments other than scheduled rent payments.
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Maintenance Rent means any lease payments (whether called maintenance reserves, additional rent, supplemental rent, utilization rent or any similar term in the applicable Lease) that are in addition to a base rent for an Aircraft (regardless of how such base rent is calculated) payable under a Lease based on usage, including hours or cycles of operation of the airframe, engines, life-limited engine parts, landing gear and/or auxiliary power unit of such Aircraft, provided that, if any Aircraft is a Non-Owned Aircraft, until the earliest to occur of (i) the date such Non-Owned Aircraft is actually acquired by a Seller, a Transferring Company, any Transferring Subsidiary or a Transferring Trust (or any of their respective Affiliates), (ii) the Closing Date for such Aircraft and (iii) the Termination Date for such Aircraft, if applicable, Maintenance Rent shall be deemed to have been paid to the relevant Seller in the amounts and on the dates set forth in the relevant Lease, without regard to whether such amounts were actually so received by or for the benefit of such Seller;
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Maintenance Rent means all amounts payable pursuant to Section 6.3.
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Examples of Maintenance Rent in a sentence

  • Lessee acknowledges and agrees that Maintenance Rent is additional rent for the leasing of the Aircraft and not cash collateral or other collateral security for Lessee’s maintenance obligations under this Agreement.

  • Such Maintenance Rent shall be calculated and paid in accordance with Schedule 8 (Maintenance Rent).

  • Notwithstanding references herein to the non-refundability of Maintenance Rent, Lessor shall pay Maintenance Contributions in respect of the Aircraft as a separate obligation not constituting a refund of Maintenance Rent.

  • Once paid, all Maintenance Rent is the property of Lessor, it is not refundable to Lessee under any circumstances whatsoever and Lessee has no interest therein whatsoever.

  • Lessee shall pay Maintenance Rent to Lessor in respect of the Aircraft.

  • In addition, Maintenance Rent shall otherwise be treated for all purposes of this Agreement as Rent, and Lessor shall have the same remedies in respect of Lessee’s failure to pay Maintenance Rent when due as Lessor has for Lessee’s failure to pay Rent when due.

  • In addition to the foregoing, each Maintenance Rent Rate is subject to further increase based on (a) any material change in the maintenance recommendations (work content or interval) of Manufacturer or Engine Manufacturer, as applicable, and (b) the actual cost experience of Lessee in respect of the corresponding MRA (as evidenced by prior MRA Claims).

  • For avoidance of doubt, such escalation calculation will be made on the [REDACTED: Item 2] of the Maintenance Rent Adjustment Period to the then- existing Maintenance Rent Rates and the resulting escalated Maintenance Rent Rates will be payable for all operation and lapse of calendar time in respect of the Aircraft in that same Maintenance Rent Adjustment Period.

  • On [REDACTED: Item 2] of the calendar year immediately following the year in which Delivery occurs and thereafter on the [REDACTED: Item 2] of each subsequent Maintenance Rent Adjustment Period during the Lease Term, the Performance Restoration Maintenance Rent Rate applicable to each Engine will be adjusted based upon [REDACTED: Item 2].

  • If the actual utilization when reported is less than the Assumed Utilization, Lessor may apply such over payment to any amounts due and owing from Lessee, including the next installment of Maintenance Rent.


More Definitions of Maintenance Rent

Maintenance Rent means, with respect to the Lease relating to a Remaining Aircraft, amounts paid by the Lessee thereunder pursuant to the terms thereof, whether as supplemental rent or otherwise, for the purpose of performing maintenance on such Remaining Aircraft;
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Maintenance Rent means all amounts payable pursuant to Section 6.3. “Maintenance Rent Period” means each calendar month during the Term.
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Maintenance Rent means, with respect to any Pool Aircraft, any payments based on usage in respect of such Pool Aircraft (or its engines or other parts) payable by the Lessee
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Related to Maintenance Rent

  • Maintenance area means any geographic region of the United States previously designated nonattainment pursuant to the CAA Amendments of 1990 and subsequently redesignated to attainment subject to the requirement to develop a maintenance plan under §175A of the CAA, as amended.

  • Advance Rent means moneys paid to the landlord to be applied to future rent payment periods, but does not include rent paid in advance for a current rent payment period.

  • Maintenance Costs means parts and materials, sublet and labour costs of a qualified licensed mechanic for the maintenance of the Revenue Service Vehicles, but shall not include costs associated with interior and exterior transit advertising signs and non-mechanical servicing of Revenue Service Vehicles such as fuelling, clearing fareboxes, cleaning and painting wheel rims, vehicle washing and other work performed by a serviceman; and,

  • Insurance Rent the sums described in paragraph 1.1 of Schedule 4; “Insured Risks” the risks of fire (including subterranean fire), lightning, explosion, storm, flood, subsidence, landslip, heave, earthquake, burst or overflowing water pipes, tanks or apparatus, impact by aircraft or other aerial devices and any articles dropped from them, impact by vehicles, terrorism, riot, civil commotion and malicious damage to the extent, in each case, that cover is generally available on normal commercial terms in the UK insurance market at the time the insurance is taken out, and any other risks against which the Landlord reasonably insures from time to time, subject in all cases to any excesses, limitations and exclusions imposed by the insurers;10

  • Basic Rent means the rent payable for the Aircraft pursuant to Section 3.2.1(a) of the Lease.