Proposed Termination Date definition
Examples of Proposed Termination Date in a sentence
During the period from the giving of notice pursuant to Section 10.01(a) hereof until the Proposed Termination Date, the Lessee, as non-exclusive agent for the Lessor, shall use its reasonable efforts to obtain bids for the cash purchase on the Proposed Termination Date (or such earlier date as shall be consented to in writing by the Lessor) of the Aircraft.
Notwithstanding Section 10.01 hereof, the Lessor may, subject to Section 10.02(b) hereof, elect to retain the Aircraft after receipt of the Lessee's notice of termination given in accordance with Section 10.01(a) hereof, by giving the Lessee and the Indenture Trustee written irrevocable notice of such election not less than thirty (30) days prior to the Proposed Termination Date.
On the Proposed Termination Date, the Engines shall be installed on the Airframe (provided that the Airframe may be sold with engines meeting the requirements set forth herein for Replacement Engines in lieu of the Engines so long as the aggregate number of Engines and Replacement Engines being sold with the Airframe equals two).
Upon the sale of the Aircraft pursuant to this Section 10.01 and upon compliance by the Lessee with the further provisions of this Article 10, the obligation of the Lessee to pay Basic Rent with respect to the Aircraft shall cease for any Rent Payment Date occurring after the Proposed Termination Date and the Term shall end effective as of the Proposed Termination Date.
If no sale shall have occurred on or before the Proposed Termination Date, this Lease shall continue in full force and effect and, for purposes of Section 10.01(a) hereof, it shall be deemed that the Lessee has rescinded its notice of termination, and the Lessee shall pay the expenses incurred by the Lessor, the Indenture Trustee and the Owner Participant in connection with the proposed sale.
Upon compliance by the Lessor and the Lessee with the provisions of this Section 10.02 and upon compliance by the Lessee with the further provisions of this Article 10, the obligation of the Lessee to pay Basic Rent with respect to the Aircraft shall cease for any Rent Payment Date occurring after the Proposed Termination Date and the Term shall end effective as of the Termination Date.
Unless the Lessor has elected to retain the Aircraft as herein provided, the Lessee shall on no more than two occasions have the right to revoke its notice of termination not less than ten (10) days prior to the Proposed Termination Date whereupon this Lease shall continue in full force and effect; provided that the Lessee may not revoke its notice if a cash bid which is for an amount greater than or equal to Termination Value has been submitted for the purchase of the Aircraft.
Notwithstanding Section 10.01 hereof, the Lessor may, subject to Section 10.02(b) hereof, elect to retain the Aircraft after receipt of the Lessee's notice of termination given in accordance with Section 10.01(a) hereof, by giving the Lessee and the Indenture Trustee written irrevocable notice of such election not less than sixty (60) days prior to the Proposed Termination Date.
In the event that Company informs the Executive of its Advisory Opinion six (6) months or more before the Proposed Termination Date, the Effective Termination Date under this Agreement shall be the Proposed Termination Date.
In the Event that Company informs the Executive of its Advisory Opinion less than six (6) months before the Proposed Termination Date, the Effective Termination Date shall be the earlier of the following (a) six (6) months after the Company informs Executive of its Advisory Opinion or (b) six (6) months after the Proposed Termination Date.