Utilization Rent definition

Utilization Rent means any payment (including any use payment) under a Lease that is based on the usage of the Portfolio Asset subject to such Lease or which is based on, or in respect of which, the Lessor under a Lease may be obligated to reimburse the Lessee under such Lease for specified maintenance activities with respect to such Portfolio Asset.

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Utilization Rent means the utilization rent, supplemental rent, and other similar payments (including payments analogous to or consisting of maintenance reserves) under each of the Leases.

Utilization Rent means any payment (including any use payment) under a Lease that is based on the usage of the Portfolio Asset subject to such Lease or which is based on, or in respect of which, the Lessor under a Lease may be obligated to reimburse the Lessee under such Lease for specified maintenance activities with respect to such Portfolio Asset. [**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. Confidential Treatment Requested: Information for which confidential treatment has been requested is omitted and is noted with asterisks. An unredacted version of this document has been filed separately with the Securities and Exchange Commission

Examples of Utilization Rent in a sentence

• All payments of a monthly nature under this Lease and any other Operative Document, including, but not limited to payments of Basic Rent and in respect of Utilization Rent, that accrue on a monthly basis and for which the payment due is for less than a complete month shall be prorated on a daily basis based on a month consisting of thirty (30) days.

• All payments of Rent, Commitment Fee and Utilization Rent shall be made by Lessee to Lessor's bank account identified in Appendix 2B, Section 3 or to such other account designated in writing by Lessor.

• During the term of this Agreement, the services described in Section 1 hereof shall be made available to the Affiliates on a cost allocation/reimbursement basis, in accordance with generally accepted accounting principles, as follows: SERVICES BASIS/METHOD -------- ------------ MIS Utilization Rent Proportionate Employee Population Telephone Proportionate Employee Population Utilities Proportionate Employee Population Carrier Affiliates: ▇▇▇▇▇ Insurance Company Pan American Underwriters, Inc.

• Lessee shall make payments to Lessor in respect of the Utilization Rent in accordance with Appendix 2C, on a monthly basis, within ten (10) days following the last day of each Rent Period, with the first payment due ten (10) days following the first Rent Payment Date occurring after Delivery; provided that Lessee's final payment in respect of Utilization Rent shall be made on the Termination Date.

• Lessee shall pay to Lessor the Utilization Rent when due in accordance with Section 13 of this Lease.

• For the avoidance of doubt, Lessor shall not be required to provide an invoice to Lessee in respect of any Utilization Rent.

• All payments of Utilization Rent received by Lessor are the sole and absolute property of Lessor.

• If Lessee's actual utilization of the Aircraft is greater than Lessee's utilization of the Aircraft reported to Lessor in accordance with Article 16, Lessee shall make up any deficiency payments in respect of Utilization Rent to Lessor within three (3) Business Days of the date of receipt of written notice from Lessor.

More Definitions of Utilization Rent

Utilization Rent means any payment (including any use payment) under a Lease that is based on the usage of the Owned Asset subject to such Lease or which is based on, or in respect of which, the Lessor under a Lease may be obligated to reimburse the Lessee under such Lease for specified maintenance activities with respect to such Owned Asset. SCHEDULE 12-A-9 SCHEDULE 1 MORTGAGE AND SECURITY AGREEMENT MORTGAGE COLLATERAL [“Airframe” means one (1) [__________] model [__________] aircraft bearing manufacturer’s serial number [_____].] “Engine[s]” means [one (1)][two (2)] [__________] model [__________] aircraft engines bearing manufacturer’s serial number[s] [_____] [and [_____] respectively]. “Initial Lease” means [__________]. SCHEDULE 12-A-10 SCHEDULE 2 MORTGAGE AND SECURITY AGREEMENT SECURITY AGREEMENT (INTENTIONALLY OMITTED AS CONTAINING CONFIDENTIAL INFORMATION)

Utilization Rent means, collectively, the payments required to be made by Lessee pursuant to the terms of Appendix 2C.

Utilization Rent means any payment (including any use payment) under a Lease that is based on the usage of the Portfolio Asset subject to such Lease or which is based on, or in respect of which, the Lessor under a Lease may be obligated to reimburse the Lessee under such Lease for specified maintenance activities with respect to such Portfolio Asset. 122 SCHEDULE 1 MORTGAGE AND SECURITY AGREEMENT MORTGAGE COLLATERAL [“Airframe” means one (1) [__________] model [__________] aircraft bearing manufacturer’s serial number [_____].] “Engine[s]” means [one (1)][two (2)] [__________] model [__________] aircraft engines bearing manufacturer’s serial number[s] [_____] [and [_____] respectively]. “Initial Lease” means [__________]. 123 SCHEDULE 2 MORTGAGE AND SECURITY AGREEMENT SECURITY TRUST AGREEMENT (INTENTIONALLY OMITTED AS CONTAINING CONFIDENTIAL INFORMATION)

Utilization Rent means any payment (including any use payment) under a Lease that is based on the usage of the Portfolio Asset subject to such Lease or which is based on, or in respect of which, the Lessor under a Lease may be obligated to reimburse the Lessee under such Lease for specified maintenance activities with respect to such Portfolio Asset. #4821-3610-4420v6 [“Airframe” means one (1) [__________] model [__________] aircraft bearing manufacturer’s serial number [_____].]