DEFERRED DISCREPANCY CORRECTION Sample Clauses

DEFERRED DISCREPANCY CORRECTION. Any discrepancies found during the ground inspection, operational ground check and operational check flight set forth in Sections 10.05, 10.06 and 10.07 above, which were not corrected by Lessee prior to return of Aircraft to Lessor, may be corrected by Lessor or its designee after return of the Aircraft and Lessee shall reimburse Lessor for all reasonable direct costs and expenses paid by Lessor or its designee for accomplishing such discrepancy corrections. Lessee shall pay Lessor or its designee for all such costs and expenses incurred within 10 days of the date of receipt of an invoice therefor.
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DEFERRED DISCREPANCY CORRECTION. Any Discrepancies identified during the inspection, operational ground checks and operational check flight(s) referred to in Sections 8.11, 8.12 and 8.13 which were not corrected by Lessee prior to the acceptance of the Aircraft by Lessor pursuant to Section 8.14 shall be corrected by Lessee at Lessee's cost and expense or, at Lessor's option, may be corrected by Lessor or its designee after return of the Aircraft and Lessee shall reimburse Lessor for all reasonable costs and expenses incurred by Lessor or its designee for accomplishing such Discrepancy corrections. Lessee shall, not later than 30 days after the date of Lessor's invoice, pay Lessor for all such costs and expenses.
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DEFERRED DISCREPANCY CORRECTION. Lessor may, at its sole option, accept delivery of the Aircraft and any discrepancies found during the ground inspection, operational ground check and operational test flight set forth in this Section 4 that were not corrected by Lessee prior to return of the Aircraft to Lessor may be corrected by Lessor or its designee after return of the Aircraft, at Lessee's cost and expense, provided that this Section 4.11 shall not be construed as permitting or authorizing Lessee to fail to meet, or consenting to or waiving any failure by Lessee to perform, Lessee's obligation to return the Aircraft in accordance with the requirements of the Lease Agreement. Lessor shall consult with Lessee regarding the identity of its designee for accomplishing such discrepancy corrections. Lessee shall reimburse Lessor for the expenses incurred by Lessor in accomplishing such discrepancy corrections within 30 days of the date of Lessor's invoice therefor. Annex 1 to Schedule 1 to Lease Agreement (MSN 28662) ANNEX 1 TO SCHEDULE 1 RETURN CONDITIONS Capitalized terms used but not defined herein (or in any annex hereto) shall have the respective meanings, and shall be interpreted and construed in the manner, set forth in the Lease Agreement (MSN 28662), dated as of December 12, 1996 (the "Lease Agreement"), between Boullioun Aircraft Holding Company, Inc. and Frontier Airlines, Inc., to which this document is an annex to a schedule.
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DEFERRED DISCREPANCY CORRECTION. 45 (k) Flight Cost................................. 45 (l)
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DEFERRED DISCREPANCY CORRECTION. Lessor may, at its sole option, accept delivery of the Aircraft and any discrepancies found during the ground inspection, operational ground check and operational test flight set forth in this Section 3 that were not corrected by Lessee prior to return of the Aircraft to Lessor may be corrected by Lessor or its designee after return of the Aircraft, at Lessee's cost and expense, provided that this Section 3.11 shall not be construed as permitting or authorizing Lessee to fail to meet, or consenting to or waiving any failure by Lessee to perform, Lessee's obligation to return the Aircraft in accordance with the requirements of the Lease Agreement. Lessee shall reimburse Lessor on demand for the expenses incurred by Lessor in accomplishing such discrepancy corrections. Annex 1 to Schedule 2 to Lease Agreement (MSN 28869) ANNEX 1 TO SCHEDULE 2 RETURN CONDITIONS Capitalized terms used but not defined herein (or in any attachment hereto) shall have the respective meanings, and shall be interpreted and construed in the manner, set forth in the Lease Agreement (MSN 28869), dated as of June 27, 1997 (the "Lease Agreement"), between Boullioun Portfolio Finance I, Inc. and Western Pacific Airlines, Inc., to which this document is an annex to a schedule.
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DEFERRED DISCREPANCY CORRECTION. Any discrepancies found during the ground inspection, operational ground check, demonstration flight and ferry flight provided for in Sections 10(f), 10(g), 10(h) and 10(i), respectively, that were not corrected by Sublessee prior to return of the Aircraft to Sublessor may be corrected by Sublessor or its designee after return of the aircraft and Sublessee shall reimburse Sublessor for the expenses incurred by Sublessor or its designee for accomplishing such discrepancy corrections. Sublessee shall pay Sublessor for such expenses incurred within thirty (30) days of the date of Sublessor's invoice therefor.
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DEFERRED DISCREPANCY CORRECTION. 29 10.10 FLIGHT COST ................................................ 30 10.11 INDEMNIFICATION ............................................ 30 10.12 INSURANCE .................................................. 30 10.13
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Related to DEFERRED DISCREPANCY CORRECTION

  • Code Section 754 Adjustments To the extent an adjustment to the adjusted tax basis of any Partnership asset pursuant to Section 734(b) or 743(b) of the Code is required, pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(m), to be taken into account in determining Capital Accounts, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis), and such item of gain or loss shall be specially allocated to the Partners in a manner consistent with the manner in which their Capital Accounts are required to be adjusted pursuant to such Section of the Treasury Regulations.

  • Code Section 754 Adjustment To the extent an adjustment to the adjusted tax basis of any Company asset pursuant to Section 734(b) or 743(b) of the Code is required, pursuant to the Allocation Regulations, to be taken into account in determining Capital Accounts, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis), and such item of gain or loss shall be specially allocated to the Members in a manner consistent with the manner in which their Capital Accounts are required to be adjusted pursuant to the Allocation Regulations.

  • Statement of Estimated Direct Expenses In addition, Landlord shall give Tenant a yearly expense estimate statement (the “Estimate Statement”) which shall set forth Landlord’s reasonable estimate (the “Estimate”) of what the total amount of Direct Expenses for the then-current Expense Year shall be and the estimated Tenant’s Share of Direct Expenses (the “Estimated Direct Expenses”). The failure of Landlord to timely furnish the Estimate Statement for any Expense Year shall not preclude Landlord from enforcing its rights to collect any Estimated Direct Expenses under this Article 4, nor shall Landlord be prohibited from revising any Estimate Statement or Estimated Direct Expenses theretofore delivered to the extent necessary. Thereafter, Tenant shall pay, with its next installment of Base Rent due that is at least thirty (30) days thereafter, a fraction of the Estimated Direct Expenses for the then-current Expense Year (reduced by any amounts paid pursuant to the last sentence of this Section 4.4.2). Such fraction shall have as its numerator the number of months which have elapsed in such current Expense Year, including the month of such payment, and twelve (12) as its denominator. Until a new Estimate Statement is furnished (which Landlord shall have the right to deliver to Tenant at any time), Tenant shall pay monthly, with the monthly Base Rent installments, an amount equal to one-twelfth (1/12) of the total Estimated Direct Expenses set forth in the previous Estimate Statement delivered by Landlord to Tenant.

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  • Section 754 Adjustment To the extent an adjustment to the adjusted tax basis of any Partnership asset pursuant to Code Section 734(b) or Code Section 743(b) is required, pursuant to Regulations Section 1.704-1(b)(2)(iv)(m)(2) or Regulations Section 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as the result of a distribution to a Holder in complete liquidation of his interest in the Partnership, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Holders in accordance with their interests in the Partnership in the event that Regulations Section 1.704-1(b)(2)(iv)(m)(2) applies, or to the Holders to whom such distribution was made in the event that Regulations Section 1.704-1(b)(2)(iv)(m)(4) applies.

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  • Corrective Allocations In the event of any allocation of Additional Book Basis Derivative Items or any Book-Down Event or any recognition of a Net Termination Loss, the following rules shall apply:

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