Rent Payable Fee definition
Rent Payable Fee has the meaning assigned to such term in Section 9.03(a)(i) of the Servicing Agreement.
Rent Payable Fee in respect of any Fee Period shall equal one percent (1.00%) of the aggregate amount of the Rents due from each Lessee attributable to such Fee Period, or portion of such Fee Period in which the relevant Aircraft constitutes an Aircraft Asset; provided that, in the event of an early termination of a Lease relating to any Aircraft Asset for any reason (other than by reason of the occurrence of an event of loss or exercise of a purchase option), the Rents which would have been payable pursuant to such Lease but for such early termination will be included in this calculation of the Rent Payable Fee until the earlier of (a) the date on which Rents shall become payable in respect of such Aircraft Asset pursuant to another Lease (the Rents of which shall be included in this calculation of the Rent Payable Fee) and (b) the day that numerically corresponds to the first date by which such Aircraft Asset and related Aircraft Documents shall have been physically repossessed by the Servicer following such early termination in (or, if no such day exists, the last day of) the calendar month that is the third month after the month in which such date occurs.
Rent Payable Fee in respect of any Fee Period shall equal one percent (1.00%) of the aggregate amount of the Rents due from each Lessee in respect of MSA Aircraft Assets attributable to such Fee Period so long as such MSA Aircraft Asset remains subject to this Agreement, or portion of such Fee Period in which the relevant Aircraft constitutes a MSA Aircraft Asset; provided, however, that, in the event of an early termination of a Lease relating to any MSA Aircraft Asset for any reason (other than by reason of the occurrence of an event of loss or exercise of a purchase option), the Rents which would have been payable pursuant to such Lease but for such early termination will be included in this calculation of the Rent Payable Fee until the earlier of (a) the date on which Rents shall become payable in respect of such MSA Aircraft Asset pursuant to another Lease (the Rents of which shall be included in this calculation of the Rent Payable Fee) and (b) the day that numerically corresponds to the first date by which such MSA Aircraft Asset and related Aircraft Documents shall have been physically repossessed by the Servicer following such early termination in (or, if no such day exists, the last day of) the calendar month that is the third month after the month in which such date occurs.
Examples of Rent Payable Fee in a sentence
A Rent Payable Fee shall be payable by LIFT to the Servicer in arrears for each period commencing on the Closing Date (or, thereafter, the fourth Business Day prior to the most recent Calculation Date) and ending on the fourth Business Day prior to the next succeeding Calculation Date during the term of this Agreement (each such period, a "FEE PERIOD"), such payment to be made no later than the Payment Date immediately following the end of each such Fee Period.
Rent Fees shall consist of the Rent Payable Fee and the Rent Collected Fee.
More Definitions of Rent Payable Fee
Rent Payable Fee has the meaning assigned in such term in Section 9.01(b) of this Agreement.