Wet Lease(s) definition

Wet Lease(s) means any arrangement whereby Lessee agrees to furnish the Aircraft to a third party pursuant to which (i) Lessee shall at all times maintain full operational, technical and navigational control and maintenance oversight of the Aircraft, (ii) the Aircraft shall be operated solely by crews employed or contracted by Lessee possessing all current appropriate Aeronautics Authority certificates and licenses (it is understood that cabin attendants need not be regular employees of Lessee), (iii) the Insurances shall remain in full force and effect (provided that such Insurance with respect to legal liabilities for passenger and cargo may be on a contingent basis for the duration of any such arrangement as long as such third party under such arrangement maintains primary coverage for such insurance in favour of Lessor, Lessee, and any Indemnitee and Additional Insureds in accordance and strict compliance with the terms, conditions, and requirements of this Lease, evidence of which in the form of a certificate of insurance and letter of undertaking from the brokers of such third party under such arrangement shall be provided to Lessor prior to the commencement of such arrangement), (iv) the Aircraft shall be used and maintained by Lessee as otherwise required by and in accordance with the terms and conditions of this Lease. Appendix 2A Lease Term Appendix 2B Rent, Security Deposit, Insurance and other Financial Matters Appendix 2C Maintenance Reserves Appendix 2D Delivery Conditions Appendix 2E Return Conditions
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Wet Lease(s) means any arrangement whereby Lessee agrees to furnish the Aircraft to a third party pursuant to which (i) Lessee shall at all times maintain full operational, technical and navigational control and maintenance oversight of the Aircraft, (ii) the Aircraft shall be operated solely by crews employed or contracted by Lessee possessing all current appropriate Aeronautics Authority certificates and licenses (it is understood that cabin attendants need not be regular employees of Lessee), (iii) the insurance required to be maintained by Lessee under the Lease shall remain in full force and effect (provided that such insurance with respect to legal liabilities for passenger and cargo may be on a contingent basis for the duration of any such arrangement as long as such third party under such arrangement maintains primary coverage for such insurance in favour of Lessor, Lessee, and any Indemnitee and Additional Insureds in accordance and strict compliance with the terms, conditions, and requirements of this Lease, evidence of which in the form of a certificate of insurance and letter of undertaking from the brokers of such third party under such arrangement shall be provided to Lessor prior to the commencement of such arrangement), (iv) the Aircraft shall be used and maintained by Lessee as otherwise required by and in accordance with the terms and conditions of this Lease. Appendix 2A Lease Term Appendix 2B Rent, Security Deposit, Insurance and other Financial Matters Appendix 2C Escalation Appendix 2D Maintenance Reserves Appendix 2E Return Conditions App ▇-▇ ▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇▇ TERMS
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Wet Lease(s) means the Wet Lease Agreements, if any, entered into between AirTran, as lessee, and ATA, as lessor, pursuant to Section 8.7 of this Agreement. AirTran shall determine which of the specific B-737-800 aircraft are to be subject to such Wet Lease Agreements. Any such B-737-800 wet leases shall among other things, require Sellers to provide the B-737-800 aircraft fully equipped for passenger service and in airworthy condition, with fully qualified and licensed cockpit and cabin crews, with flight dispatch services in respect of all flights and positioning flights, together with all scheduled and unscheduled maintenance for such aircraft in accordance with all applicable governmental requirements and with all insurance (to be satisfactory in form, coverage and amount to AirTran) and property taxes with respect to such aircraft or their operation paid or provided by Sellers. Sellers will not be responsible for landing fees, overflight charges, ground handling costs or fees, fuel or costs of catering. 2.3 Ground Support Equipment Sellers At signing 4.3 Adjustments to Acquisition Price AirTran 120 days after Closing
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Examples of Wet Lease(s) in a sentence

  • The rental under such Wet Leases shall not include any charge for aircraft rentals or heavy checks or engine overhaul or refurbishment, it being understood that AirTran shall make, to the extent accruing with respect to the term of the Wet Leases, the Agreed Lessor Rent Payments directly to the lessor and, with respect to the hours and cycles operated during such term, the MCPH Payments directly to GE Engine Services, Inc.

  • Sellers’ schedule shall be coordinated with the orderly phase-in of AirTran’s scheduled operations to and from Midway Airport from and after Closing, including operations pursuant to the Wet Leases, if any.

  • AirTran shall provide to Sellers as promptly as practicable after the Execution Date an initial indication of the number, if any, of B-737-800 aircraft AirTran tentatively would elect to take on Wet Leases and within 30-days after the Execution Date, notify Sellers of AirTran’s final determination of the B-737-800 aircraft, if any, it elects to take on Wet Leases as specified by AirTran (such aircraft, the “Wet Leased Aircraft”).

  • The Wet Leases, if any, shall be at the rental determined below plus the monthly Agreed Lessor Rent Payments payable to the lessor of such Wet Leased Aircraft and of MCPH Payments to be made to GE Engine Services, Inc.