Common use of Basic Rent Clause in Contracts

Basic Rent. Lessee hereby agrees to pay to Lessor Basic Rent for each Unit throughout the Basic Term applicable thereto in consecutive monthly installments payable on each Rent Payment Date. Each such monthly payment of Basic Rent shall be in an amount equal to the product of the Equipment Cost for each Unit subject to lease hereunder multiplied by the Basic Rent percentage set forth opposite such Rent Payment Date on Schedule 3-A to the Participation Agreement (as such Schedule 3-A shall be adjusted pursuant to Section 2.6 of the Participation Agreement). Notwithstanding Lessee's payment obligations set forth in the preceding two sentences, Lessee's liability on account of the use of the Units during each Lease Period shall accrue and be allocated within the meaning of Treasury Regulation Section 1. 467-1(c)(2)(ii)(A)(2) to each Lease Period as set forth on Schedule 3-B to the Participation Agreement. Basic Rent shall be allocated to each calendar year in the Basic Term based upon the assumption that each calendar year in the Basic Term is 360 days, consisting of four 90-day quarters and twelve 30-day months. It is the intention of Lessor and Lessee that (x) the allocations of Basic Rent set forth on Schedule 3-B to the Participation Agreement constitute specific allocations of fixed rent within the meaning of Treasury Regulation Section 1.467-1(c)(2)(ii) and (y) the first three Lease Periods shall constitute a rent holiday to which no Basic Rent is allocated. Stipulated Loss Amounts and Termination Amounts have been calculated on the basis that (i) any Basic Rents actually due on the date of such calculation shall not have been paid and (ii) any Basic Rents scheduled to have been paid prior to the date of such calculation are assumed to have been paid and have been appropriately reflected in such calculations. Lessor and Lessee agree to include in income and deduct the Basic Rents allocated to each Lease Period and calendar year according to Schedule 3-B of the Participation Agreement. Notwithstanding anything to the contrary contained herein or in the Participation Agreement, each installment of Basic Rent (both before and after any adjustment pursuant to Section 2.6 of the Participation Agreement) shall be, under any circumstances and in any event, in an amount at least sufficient for Lessor to pay in full as of the due date of such installment, an amount equal to the sum of (x) any payment of principal of and interest on the Equipment Notes required to be paid by Lessor pursuant to the Indenture on such due date in accordance with the Scheduled Amortization and (y) the Policy Provider Base Premium Amount required to be paid on the due date of such installment.

Basic Rent. Lessee hereby agrees to pay to Lessor Basic Rent for each Unit throughout the Basic Term applicable thereto in consecutive monthly installments payable on each Rent Payment Date. Each such monthly payment of Basic Rent shall be in an amount equal to the product of the Equipment Cost for each such Unit subject to lease hereunder multiplied by the Basic Rent percentage set forth opposite such Rent Payment Date on Schedule 3-A to the Participation Agreement (as such Schedule 3-A shall be adjusted pursuant to Section 2.6 of the Participation Agreement). Notwithstanding Lessee's payment obligations set forth in the preceding two sentences, Lessee's liability on account of the use of the Units during each Lease Period shall accrue and be allocated within the meaning of Treasury Regulation Section 1. 467-1(c)(2)(ii)(A)(2) to each Lease Period as set forth on Schedule 3-B to the Participation Agreement. Agreement sets forth the Basic Rent allocated for Federal income tax purposes to each lease period and calendar year throughout the Basic Term and in addition, sets forth that for certain months, amounts of Basic Rent shall be allocated to each the following and/or preceding calendar year. Schedule 3-B to the Participation Agreement also sets forth the application of Basic Rent payments to the calendar year in the Basic Term based upon the assumption that each calendar year in the Basic Term is 360 days, consisting of four 90-day quarters and twelve 30-day monthsto which such payments relate. It is the intention of Lessor and Lessee that (x) the allocations of Basic Rent set forth on Schedule 3-B to the Participation Agreement constitute specific allocations of fixed rent within the meaning of Treasury Regulation Treas. Reg. Section 1.467-1(c)(2)(ii) and (y) the first three Lease Periods shall constitute a rent holiday to which no Basic Rent is allocated). Stipulated Loss Amounts and Termination Amounts have been calculated on the basis that (i) any Basic Rents actually due on the date of such calculation shall not have been be paid and (ii) any Basic Rents scheduled to have been paid prior to the date of such calculation are assumed to have been paid and have been appropriately reflected in such calculations. Lessor and Lessee agree to include in income and deduct the Basic Rents allocated to each Lease Period lease period and calendar year according to Schedule 3-B of the Participation Agreement. In addition, Lessor and Lessee intend that under no circumstances are any Basic Rents to be considered related to (i) any period after the calendar year succeeding the calendar year in which such Basic Rents are payable or any period before the calendar year preceding the calendar year in which such Basic Rents are payable or (ii) the period beginning on the Closing Date and ending on (but not including) March 28, 2002 (the "Basic Rent Holiday"). Notwithstanding anything to the contrary contained herein or in the Participation Agreement, each installment of Basic Rent (both before and after any adjustment pursuant to Section 2.6 of the Participation Agreement) shall be, under any circumstances and in any event, in an amount at least sufficient for Lessor to pay in full as of the due date of such installment, an amount equal to the sum of (x) any payment of principal of and interest Lease Agreement (TRLI 2001-1C) on the Equipment Notes required to be paid by Lessor pursuant to the Indenture on such due date in accordance with the Scheduled Amortization and (y) the Policy Provider Base Premium Amount required to be paid on the due date of such installmentAmortization.

Basic Rent. Lessee hereby agrees to pay to Lessor Basic Rent for each Unit throughout the Basic Term applicable thereto in consecutive monthly installments payable on each Rent Payment Date. Each such monthly payment of Basic Rent shall be in an amount equal to the product of the Equipment Cost for each such Unit subject to lease hereunder multiplied by the Basic Rent percentage set forth opposite such Rent Payment Date on Schedule 3-A to the Participation Agreement (as such Schedule 3-A shall be adjusted pursuant to Section 2.6 of the Participation Agreement). Notwithstanding Lessee's payment obligations set forth in the preceding two sentences, Lessee's liability on account of the use of the Units during each Lease Period shall accrue and be allocated within the meaning of Treasury Regulation Section 1. 467-1(c)(2)(ii)(A)(2) to each Lease Period as set forth on Schedule 3-B to the Participation Agreement. Agreement sets forth the Basic Rent allocated for Federal income tax purposes to each lease period and calendar year throughout the Basic Term and in addition, sets forth that for certain months, amounts of Basic Rent shall be allocated to each the following and/or preceding calendar year. Schedule 3-B to the Participation Agreement also sets forth the application of Basic Rent payments to the calendar year in the Basic Term based upon the assumption that each calendar year in the Basic Term is 360 days, consisting of four 90-day quarters and twelve 30-day monthsto which such payments relate. It is the intention of Lessor and Lessee that (x) the allocations of Basic Rent set forth on Schedule 3-B to the Participation Agreement constitute specific allocations of fixed rent within the meaning of Treasury Regulation Treas. Reg. Section 1.467-1(c)(2)(ii) and (y) the first three Lease Periods shall constitute a rent holiday to which no Basic Rent is allocated). Stipulated Loss Amounts and Termination Amounts have been calculated on the basis that (i) any Basic Rents actually due on the date of such calculation shall not have been be paid and (ii) any Basic Rents scheduled to have been paid prior to the date of such calculation are assumed to have been paid and have been appropriately reflected in such calculations. Lessor and Lessee agree to include in income and deduct the Basic Rents allocated to each Lease Period lease period and calendar year according to Schedule 3-B of the Participation Agreement. In addition, Lessor and Lessee intend that under no circumstances are any Basic Lease Agreement (TRLI 2001-1B) Rents to be considered related to (i) any period after the calendar year succeeding the calendar year in which such Basic Rents are payable or any period before the calendar year preceding the calendar year in which such Basic Rents are payable or (ii) the period beginning on the Closing Date and ending on (but not including) September 29, 2001 (the "Basic Rent Holiday"). Notwithstanding anything to the contrary contained herein or in the Participation Agreement, each installment of Basic Rent (both before and after any adjustment pursuant to Section 2.6 of the Participation Agreement) shall be, under any circumstances and in any event, in an amount at least sufficient for Lessor to pay in full as of the due date of such installment, an amount equal to the sum of (x) any payment of principal of and interest on the Equipment Notes required to be paid by Lessor pursuant to the Indenture on such due date in accordance with the Scheduled Amortization and (y) the Policy Provider Base Premium Amount required to be paid on the due date of such installmentAmortization.

Basic Rent. Lessee hereby agrees to pay to Lessor Basic Rent for each Unit throughout the Basic Term applicable thereto in consecutive monthly installments payable on each Rent Payment Date. Each such monthly payment of Basic Rent shall be in an amount equal to the product of the Equipment Cost for each such Unit subject to lease hereunder multiplied by the Basic Rent percentage set forth opposite such Rent Payment Date on Schedule 3-A to the Participation Agreement (as such Schedule 3-A shall be adjusted pursuant to Section 2.6 of the Participation Agreement). Notwithstanding Lessee's payment obligations set forth in the preceding two sentences, Lessee's liability on account of the use of the Units during each Lease Period shall accrue and be allocated within the meaning of Treasury Regulation Section 1. 467-1(c)(2)(ii)(A)(2) to each Lease Period as set forth on Schedule 3-B to the Participation Agreement. Agreement sets forth the Basic Rent allocated for Federal income tax purposes to each lease period and calendar year throughout the Basic Term and in addition, sets forth that for certain months, amounts of Basic Rent shall be allocated to each the following and/or preceding calendar year. Schedule 3-B to the Participation Agreement also sets forth the application of Basic Rent payments to the calendar year in the Basic Term based upon the assumption that each calendar year in the Basic Term is 360 days, consisting of four 90-day quarters and twelve 30-day monthsto which such payments relate. It is the intention of Lessor and Lessee that (x) the allocations of Basic Rent set forth on Schedule 3-B to the Participation Agreement constitute specific allocations of fixed rent within the meaning of Treasury Regulation Treas. Reg. Section 1.467-1(c)(2)(ii) and (y) the first three Lease Periods shall constitute a rent holiday to which no Basic Rent is allocated). Stipulated Loss Amounts and Termination Amounts have been calculated on the basis that (i) any Basic Rents actually due on the date of such calculation shall not have been be paid and (ii) any Basic Rents scheduled to have been paid prior to the date of such calculation are assumed to have been paid and have been appropriately reflected in such calculations. Lessor and Lessee agree to include in income and deduct the Basic Rents allocated to each Lease Period lease period and calendar year according to Schedule 3-B of the Participation Agreement. In addition, Lessor and Lessee intend that under no circumstances are any Basic Rents to be considered related to (i) any period after the calendar year succeeding the calendar year in which such Basic Rents are payable or any period before the calendar year preceding the calendar year in which such Basic Rents are payable or (ii) the period beginning on the Closing Date and ending on (but not including) August 17, 2001 (the "Basic Rent Holiday"). Notwithstanding anything to the contrary contained herein or in the Participation Agreement, each installment of Basic Rent (both before and after any adjustment pursuant to Section 2.6 of the Participation Agreement) shall be, under any circumstances and in any event, in an amount at least sufficient for Lessor to pay in full as of the due date of such installment, an amount equal to the sum of (x) any payment of principal of and interest on the Equipment Notes required to be paid by Lessor pursuant to the Indenture on such due date in accordance with the Scheduled Amortization and (y) the Policy Provider Base Premium Amount required to be paid on the due date of such installmentAmortization.

Basic Rent. Lessee hereby agrees to Tenant shall pay to Lessor Basic Rent as annual rent for each Unit throughout the Premises the product of the Premises Rentable Area times the annual rate per square foot of Premises Rentable Area shown in the Basic Term applicable thereto in consecutive monthly installments payable on each Rent Payment DateLease Information (such product is herein called “Basic Annual Rent”). Each such monthly payment of The Basic Annual Rent shall be payable in monthly installments equal to the applicable Basic Monthly Rent shown in the Basic Lease Information, in advance, without demand, offset or deduction, which monthly installments shall commence on the Commencement Date and shall continue on the first (1st) day of each calendar month thereafter unless otherwise provided herein. If the Commencement Date occurs on a day other than the first day of the calendar month, the Basic Monthly Rent for such partial month shall be prorated. Upon execution of this Lease, Tenant shall pay to Landlord an amount equal to the product of the Equipment Cost for each Unit subject to lease hereunder multiplied by the Basic Rent percentage set forth opposite such Rent Payment Date on Schedule 3-A to the Participation Agreement (as such Schedule 3-A shall be adjusted pursuant to Section 2.6 of the Participation Agreement). Notwithstanding Lessee's payment obligations set forth in the preceding two sentences, Lessee's liability on account of the use of the Units during each Lease Period shall accrue and be allocated within the meaning of Treasury Regulation Section 1. 467-1(c)(2)(ii)(A)(2) to each Lease Period as set forth on Schedule 3-B to the Participation Agreement. Basic Rent shall be allocated to each calendar year in the Basic Term based upon the assumption that each calendar year in the Basic Term is 360 days, consisting of four 90-day quarters and twelve 30-day months. It is the intention of Lessor and Lessee that (x) the allocations of Basic Rent set forth on Schedule 3-B to the Participation Agreement constitute specific allocations of fixed rent within the meaning of Treasury Regulation Section 1.467-1(c)(2)(ii) and (y) the first three Lease Periods shall constitute a rent holiday to which no Basic Rent is allocated. Stipulated Loss Amounts and Termination Amounts have been calculated on the basis that (i) any Basic Rents actually due on the date of such calculation shall not have been paid and (ii) any Basic Rents scheduled to have been paid prior to the date of such calculation are assumed to have been paid and have been appropriately reflected in such calculations. Lessor and Lessee agree to include in income and deduct the Basic Rents allocated to each Lease Period and calendar year according to Schedule 3-B of the Participation Agreement. Notwithstanding anything to the contrary contained herein or in the Participation Agreement, each initial installment of Basic Monthly Rent (both before due hereunder and after any adjustment pursuant such amount shall be applied to Section 2.6 the first installment of Rent due hereunder, or in this case month seven of the Participation Agreement) term. All payments shall be, under any circumstances be payable to Landlord and in any event, in an amount at least sufficient for Lessor to pay in full as of the due date of such installment, an amount equal to the sum of (x) any payment of principal of and interest on the Equipment Notes required to be if paid by Lessor pursuant check sent to: COP-Spectrum Center, LLC, ▇.▇. ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇, or such other place as Landlord may designate from time to time. At Tenant’s election, payments may be made by wire transfer to Account Name: Granite Properties, Inc., Account Number: 4945061919, Bank Name: ▇▇▇▇▇ Fargo Bank, NA, ABA Number ▇▇▇▇▇▇▇▇▇; Reference: Property Address and Suite Number. All payments shall be in the Indenture on such due date in accordance form of check or wire transfer unless otherwise designated by Landlord, provided that payment by check shall not be deemed made if the check is not duly honored with the Scheduled Amortization and (y) the Policy Provider Base Premium Amount required to be paid on the due date of such installmentgood funds.

Basic Rent. Lessee and Lessor hereby agree that no Rent (other than Supplemental Rent, if any) shall be payable to the Lessor during the Interim Term. Lessee hereby agrees to pay to Lessor Basic Rent for each Unit throughout the Basic Term applicable thereto on the first Rent Payment Date and in consecutive monthly semi-annual installments thereafter payable on each Rent Payment Date. Each such monthly payment of Basic Rent shall be in an amount equal to the product of the Equipment Cost for each such Unit subject to lease hereunder multiplied by the Basic Rent percentage for such Unit set forth opposite such Rent Payment Date on Schedule 3-A 2 to the Participation Agreement Lease Supplement for such Units (as such Schedule 3-A 2 shall be adjusted pursuant to Section 2.6 of the Participation Agreement3.4 hereof). Notwithstanding Lessee's payment obligations Basic Rent shall be payable on the Rent Payment Dates as set forth in Schedule 2 to the preceding two sentencesLease Supplement for the applicable Units. Basic Rent shall be allocated to and accrue for the use of the Units as specified in Schedule 5 to the Lease Supplement for such Units. For the avoidance of doubt, and notwithstanding anything to the contrary herein, the parties agree that irrespective of Lessee’s payment obligation on each Rent Payment Date, Lessee's ’s liability on account of the use of the Units during each Lease Period Unit shall accrue and be allocated within the meaning of Treasury Regulation Section 1. 467-1(c)(2)(ii)(A)(2) to each Lease Period as period in the amount set forth on in Schedule 3-B 5 to the Participation AgreementLease Supplement for the applicable Units. Basic Rent allocated to any Lease period shall be further allocated ratably to each day within such Lease period. Basic Rent shall be allocated to each calendar year in the Basic Lease Term based upon the assumption that each calendar year in the Basic Lease Term is 360 days, consisting of four 90-day quarters and twelve 30-day months. It is the intention of Lessor and Lessee that (x) the allocations of Basic Rent to each Lease period in the amount set forth on in Schedule 3-B 5 to the Participation Agreement Lease Supplement constitute specific allocations of fixed rent within the meaning of Treasury Regulation Section section 1.467-1(c)(2)(ii) and (y) with the first three intended effect that the Lease Periods shall constitute a rent holiday to which no Basic Rent is allocated. Stipulated Loss Amounts and Termination Amounts have been calculated on the basis that (i) any Basic Rents actually due on the date of such calculation shall will not have been paid and “prepaid rent” or “deferred rent” within the meaning of Treasury Regulation sections 1.467-1(c)(3)(i) or (ii) any Basic Rents scheduled to have been paid prior to the date of such calculation are assumed to have been paid and have been appropriately reflected in such calculations). Lessor and Lessee The parties hereto agree to include in income and deduct the Basic Rents allocated to that for Mexican tax purposes each Lease Period and calendar year according to Schedule 3-B of the Participation Agreement. Notwithstanding anything to the contrary contained herein or in the Participation Agreement, each installment payment of Basic Rent (both before and after any adjustment pursuant to this Section 2.6 3.2 shall constitute the payment of royalty for the temporary use of the Participation Agreement) shall be, under any circumstances and in any event, in an amount at least sufficient for Lessor to pay in full as Equipment during the term of the due date of such installment, an amount equal to the sum of (x) any payment of principal of and interest on the Equipment Notes required to be paid by Lessor pursuant to the Indenture on such due date in accordance with the Scheduled Amortization and (y) the Policy Provider Base Premium Amount required to be paid on the due date of such installmentthis Lease.

Basic Rent. Lessee hereby agrees to pay to Lessor Basic Rent ---------- for each Unit throughout the Basic Term applicable thereto in consecutive monthly installments payable on each Rent Payment Date. Each such monthly payment of Basic Rent shall be in an amount equal to the product of the Equipment Cost for each such Unit subject to lease hereunder multiplied by the Basic Rent percentage for such Unit set forth opposite such Rent Payment Date on Schedule 3-A 3 to the Participation Agreement (as such Schedule 3-A 3 shall be adjusted pursuant to Section 2.6 of the Participation Agreement). Notwithstanding Lessee's payment obligations set forth Basic Rent shall be payable in the preceding two sentencesadvance on certain Rent Payment Dates and in arrears on certain Rent Payment Dates, Lessee's liability on account of the use of the Units during each Lease Period shall accrue and be allocated within the meaning of Treasury Regulation Section 1. 467-1(c)(2)(ii)(A)(2) to each Lease Period as set forth on specified in Schedule 3-B 3 to the Participation Agreement, as so adjusted, such Schedule 3 as so adjusted from time to time being incorporated herein by reference. Each installment of Basic Rent shall that is indicated as payable in advance will be allocated over the month beginning on the Rent Payment Date on which such advance payment is scheduled to be made, and each calendar year installment of Basic Rent that is indicated as payable in arrears will be accrued over the Basic Term based upon month ending on the assumption that each calendar year in the Basic Term Rent Payment Date on which such arrears payment is 360 days, consisting of four 90-day quarters and twelve 30-day monthsscheduled to be made. It is the intention of Lessor and Lessee that (x) the allocations of Basic Rent set forth on Schedule 3-B 3 to the Participation Agreement constitute specific allocations of fixed rent within the meaning of Treasury Regulation Section Prop. Treas. Reg. (S) 1.467-1(c)(2)(ii) and 1 (y) the first three Lease Periods shall constitute a rent holiday to which no Basic Rent is allocated. Stipulated Loss Amounts and Termination Amounts have been calculated on the basis that (i) any Basic Rents actually due on the date of such calculation shall not have been paid and (ii) any Basic Rents scheduled to have been paid prior to the date of such calculation are assumed to have been paid and have been appropriately reflected in such calculations. Lessor and Lessee agree to include in income and deduct the Basic Rents allocated to each Lease Period and calendar year according to Schedule 3-B of the Participation Agreementc)(2)(ii). Notwithstanding anything to the contrary contained herein or in the Participation Agreement, each installment of Basic Rent (both before and after any adjustment pursuant to Section 2.6 of the Participation Agreement) shall be, under any circumstances and in any event, in an amount at least sufficient for Lessor to pay in full as of the due date of such installment, an amount equal to the sum of (x) any payment of principal of and interest on the Equipment Notes required to be paid by Lessor pursuant to the Indenture on such due date in accordance with the Scheduled Amortization and (y) the Policy Provider Base Premium Amount required to be paid on the due date of such installmentAmortization.

Basic Rent. Lessee hereby agrees to (a) Tenant shall pay to Lessor Basic Rent for each Unit throughout to Landlord at the annual rate determined in accordance with subsection 2.03(d). (b) Basic Term applicable thereto Rent shall be paid by good check made to the order of Landlord or as Landlord may direct. Basic Rent payments shall be placed in consecutive the United States mail addressed to Landlord at the place where notices to Landlord are required to be directed or to such other place as Landlord may designate by giving notice to Tenant. Basic Rent shall be paid without setoff, counterclaim or deduction. (i) Basic Rent shall be payable in equal monthly installments payable on each Rent Payment Dateinstallments. Each such monthly payment installment of Basic Rent shall be due in an amount equal to the product advance. The first installment of the Equipment Cost for each Unit subject to lease hereunder multiplied by the Basic Rent percentage set forth opposite such Rent Payment Date on Schedule 3-A to the Participation Agreement (as such Schedule 3-A shall be adjusted pursuant to Section 2.6 of the Participation Agreement). Notwithstanding Lessee's payment obligations set forth in the preceding two sentences, Lessee's liability on account of the use of the Units during each Lease Period shall accrue and be allocated within the meaning of Treasury Regulation Section 1. 467-1(c)(2)(ii)(A)(2) to each Lease Period as set forth on Schedule 3-B to the Participation Agreement. Basic Rent shall be allocated to each calendar year in the Basic Term based upon the assumption that each calendar year in the Basic Term is 360 days, consisting of four 90-day quarters and twelve 30-day months. It is the intention of Lessor and Lessee that (x) the allocations of Basic Rent set forth on Schedule 3-B to the Participation Agreement constitute specific allocations of fixed rent within the meaning of Treasury Regulation Section 1.467-1(c)(2)(ii) and (y) the first three Lease Periods shall constitute a rent holiday to which no Basic Rent is allocated. Stipulated Loss Amounts and Termination Amounts have been calculated paid on the basis that (i) any Basic Rents actually due on the date of such calculation Commencement Date and each subsequent installment shall not have been paid and (ii) any Basic Rents scheduled to have been paid prior to the date of such calculation are assumed to have been paid and have been appropriately reflected in such calculations. Lessor and Lessee agree to include in income and deduct the Basic Rents allocated to each Lease Period and calendar year according to Schedule 3-B of the Participation Agreement. Notwithstanding anything to the contrary contained herein or in the Participation Agreement, each installment of Basic Rent (both before and after any adjustment pursuant to Section 2.6 of the Participation Agreement) shall be, under any circumstances and in any event, in an amount at least sufficient for Lessor to pay in full as of the due date of such installment, an amount equal to the sum of (x) any payment of principal of and interest on the Equipment Notes required to be paid by Lessor pursuant to the Indenture on such due date in accordance with the Scheduled Amortization and (y) the Policy Provider Base Premium Amount required to be paid on the due first day of each subsequent month during the term. (ii) If the Commencement Date is other than the first day of a month or if the Expiration Date is other than the last day of a month, Basic Rent for the month in which the Commencement Date occurs or the month in which the Expiration Date occurs shall be prorated equitably. (i) After Landlord notifies Tenant that Landlord has granted a Financing Mortgage, the annual rate of Basic Rent shall be the annual rate of Carrying Charges under the Financing Mortgage. (ii) Tenant may elect to defer a portion of the Basic Rent as provided for in Section 2.07. (iii) The parties recognize that the annual rate of Basic Rent may fluctuate based upon fluctuations in the annual Carrying Charges. Landlord shall notify Tenant at the time there shall be a change in the Carrying Charges. (e) Upon the request Of any party, the parties shall confirm, by a statement signed by each of them, the annual rate of Basic Rent payable under this Lease as of the date of such installmentthe statement.

Basic Rent. Lessee hereby agrees to pay to Lessor Basic Rent for each Unit throughout the Basic Term applicable thereto in consecutive monthly installments payable on each Rent Payment Date. Each such monthly payment of Basic Rent shall be in an amount equal to the product of the Equipment Cost for each such Unit subject to lease hereunder multiplied by the Basic Rent percentage set forth opposite such Rent Payment Date on Schedule 3-A to the Participation Agreement (as such Schedule 3-A shall be adjusted pursuant to Section 2.6 of the Participation Agreement). Notwithstanding Lessee's payment obligations set forth in the preceding two sentences, Lessee's liability on account of the use of the Units during each Lease Period shall accrue and be allocated within the meaning of Treasury Regulation Section 1. 467-1(c)(2)(ii)(A)(2) to each Lease Period as set forth on Schedule 3-B to the Participation Agreement. Agreement sets forth the Basic Rent allocated for Federal income tax purposes to each lease period and calendar year throughout the Basic Term and in addition, sets forth that for certain months, amounts of Basic Rent shall be allocated to each the following and/or preceding calendar year. Schedule 3-B to the Participation Agreement also sets forth the application of Basic Rent payments to the calendar year in the Basic Term based upon the assumption that each calendar year in the Basic Term is 360 days, consisting of four 90-day quarters and twelve 30-day monthsto which such payments relate. It is the intention of Lessor and Lessee that (x) the allocations of Basic Rent set forth on Schedule 3-B to the Participation Agreement constitute specific allocations of fixed rent within the meaning of Treasury Regulation Treas. Reg. Section 1.4671. 467-1(c)(2)(ii) and (y) the first three Lease Periods shall constitute a rent holiday to which no Basic Rent is allocated). Stipulated Loss Amounts and Termination Amounts have been calculated on the basis that (i) any Basic Rents actually due on the date of such calculation shall not have been be paid and (ii) any Basic Rents scheduled to have been paid prior to the date of such calculation are assumed to have been paid and have been appropriately reflected in such calculations. Lessor and Lessee agree to include in income and deduct the Basic Rents allocated to each Lease Period lease period and calendar year according to Schedule 3-B of the Participation Agreement. In addition, Lessor and Lessee intend that under no circumstances are any Basic Rents to be considered related to (i) any period after the calendar year succeeding the calendar year in which such Basic Rents are payable or any period before the calendar year preceding the calendar year in which such Basic Rents are payable or (ii) the period beginning on the Closing Date and ending on (but not including) March 28, 2002 (the "Basic Rent Holiday"). Notwithstanding anything to the contrary contained herein or in the Participation Agreement, each installment of Basic Rent (both before and after any adjustment pursuant to Section 2.6 of the Participation Agreement) shall be, under any circumstances and in any event, in an amount at least sufficient for Lessor to pay in full as of the due date of such installment, an amount equal to the sum of (x) any payment of principal of and interest Lease Agreement (TRLI 2001-1C) on the Equipment Notes required to be paid by Lessor pursuant to the Indenture on such due date in accordance with the Scheduled Amortization and (y) the Policy Provider Base Premium Amount required to be paid on the due date of such installmentAmortization.

Basic Rent. On the Delivery Date, the Lessee hereby agrees to pay to the Lessor the Initial Basic Rent for each Unit throughout Installment in Dollars. In addition, the Basic Term applicable thereto Lessee agrees to pay the Lessor rent in consecutive monthly installments payable Dollars in arrears on each Basic Rent Payment Date. Each such monthly payment of Basic Rent shall be Date occurring during the Term, in each case in an amount equal to the product Basic Rent. For all purposes of this Lease, the Equipment Cost for rent payable on each Unit subject to lease hereunder multiplied by the Basic Rent percentage set forth opposite such Rent Payment Date on Schedule 3-A to occurring during the Participation Agreement (as such Schedule 3-A Term applicable thereto shall be adjusted pursuant to Section 2.6 of the Participation Agreement). Notwithstanding Lessee's payment obligations set forth in the preceding two sentences, Lessee's liability on account of the use of the Units during each Lease Period shall accrue and be allocated within the meaning of Treasury Regulation Section 1. 467-1(c)(2)(ii)(A)(2) to each Lease Period as set forth on Schedule 3-B to the Participation Agreement. Basic Rent shall be allocated to each calendar year in the Basic Term based upon the assumption that each calendar year in the Basic Term is 360 days, consisting of four 90-day quarters and twelve 30-day months. It is the intention of Lessor and Lessee that (x) the allocations of Basic Rent set forth on Schedule 3-B to the Participation Agreement constitute specific allocations of fixed rent within the meaning of Treasury Regulation Section 1.467-1(c)(2)(ii) and (y) the first three Lease Periods shall constitute a rent holiday to which no Basic Rent is allocated. Stipulated Loss Amounts and Termination Amounts have been calculated on the basis that (i) any Basic Rents actually due on the date of such calculation shall not have been paid and (ii) any Basic Rents scheduled to have been paid prior to the date of such calculation are assumed to have been paid and have been appropriately reflected in such calculations. Lessor and Lessee agree to include in income and deduct the Basic Rents allocated to each Lease Period and calendar year according to Schedule 3-B of the Participation Agreement. Notwithstanding anything to the contrary contained herein or in the Participation Agreement, each installment of Basic Rent (both before and after any adjustment pursuant to Section 2.6 of the Participation Agreement) shall be, under any circumstances and in any event, in an amount at least sufficient for Lessor to pay in full as of the due date of such installment, an amount equal to the sum of (x) the unpaid “Series A Installment” set forth in Schedule 1 to the Lease Supplement for such Basic Rent Payment Date (y) the unpaid “Series B Installment” set forth in Schedule 1 to the Lease Supplement for such Basic Rent Payment Date; provided, that if the Lessee receives written notice that the interest rate on any payment series of Equipment Notes has increased pursuant to the related Registration Rights Agreement (as defined in the Intercreditor Agreement), such Basic Rent will be increased as provided in such Registration Rights Agreement and as notified to the Lessee (the “Basic Rent”). Each installment of Basic Rent payable on any Basic Rent Payment Date shall in all events be in an amount that is at least equal to the amount payable by the Lessor to the Noteholders under the Indenture in respect of the scheduled principal of of, and interest on on, the Equipment Notes required (including any increase in the rate of such interest pursuant to either Registration Rights Agreement) on such Basic Rent Payment Date for the Aircraft. Schedule 1 to the Lease Supplement has been prepared on the basis of the following assumptions: (A) the Delivery Date of the Aircraft will occur on 29 July 2015; (B) the Aircraft will remain on lease throughout the Term; and (C) the Lessor issues all of the Equipment Notes with respect to the Aircraft as contemplated by Financing Agreements. If any of the assumptions above proves to be paid by Lessor pursuant to incorrect for any reason, including, without limitation, as a result of the Indenture on such due date issuance of Additional Series Equipment Notes, a refinancing or redemption of the Equipment Notes in accordance with the Scheduled Amortization Financing Agreements, or a change or adjustment of the Debt Rate from time to time for such period(s), and (yin such amounts and circumstances, as provided in Section 2(d) of either Registration Rights Agreement, the Policy Provider Base Premium Amount required Lessor, the Lessee and the Loan Trustee shall agree on a replacement Schedule 1 to be paid on the due date of such installmentLease Supplement calculated by reference to actual amounts or facts determined in accordance with the Financing Agreements.

Basic Rent. Lessee hereby agrees Subject to pay to Lessor the adjustments provided for in Paragraphs 2, 3 and 4 below, Basic Rent payable in respect of the Term for the Leased Premises shall be calculated as follows: (a) Commencing on October 1, 1997 and continuing on the first day of each Unit throughout succeeding month to and including the Initial Term Commencement Date (each such date a "Basic Term applicable thereto Rent Payment Date"), Basic Rent shall be payable in consecutive monthly installments payable an amount ("Basic Rent") equal to 0.8% multiplied by the average of the amount advanced by or on behalf of Landlord for Project Costs (exclusive of the Acquisition Fee) based on the number of days each advance is outstanding during the month prior to such Basic Rent Payment Date. Each The amount set forth in the foregoing sentence shall, absent manifest error, be conclusively determined from the books and records of Landlord. Tenant shall have the right, upon reasonable prior notice, to inspect Landlord's books and records to verify the accuracy of Landlord's calculation of Basic Rent. (b) Commencing on the Initial Term Commencement Date and continuing on the first day of each third month thereafter until the expiration of the Term (each such monthly payment of date, also a "Basic Rent Payment Date"), Basic Rent shall be payable in an amount equal to the product of the Equipment Cost for each Unit subject to lease hereunder one-quarter of 10.95% multiplied by Landlord's Share of Project Costs exclusive of the Acquisition Fee. Promptly following the Initial Term Commencement Date, Landlord and Tenant shall execute an addendum to this Lease setting forth the amount of the initial annual Basic Rent percentage set forth opposite such and the quarterly payments of Basic Rent. (c) For so long as an Event of Default has not occurred and is continuing, on each Basic Rent Payment Date that occurs on Schedule 3-A or prior to, but not after the Final Completion Date, and relates to any period occurring prior to the Participation Agreement Final Completion Date, Landlord shall approve as an advance of Landlord's Share of Project Costs, the monthly installments of Basic Rent payable by Tenant under this Paragraph 1 for the Improvements and will credit each such advance against the installment of Basic Rent then due and owing, provided, however, that (as i) from and after the Final Completion Date Landlord's obligation to make any further advance for future installments of Basic Rent shall terminate and all such Schedule 3-A shall be adjusted pursuant to Section 2.6 future payments of the Participation Agreement). Notwithstanding Lessee's payment obligations set forth in the preceding two sentences, Lessee's liability on account of the use of the Units during each Lease Period shall accrue and be allocated within the meaning of Treasury Regulation Section 1. 467-1(c)(2)(ii)(A)(2) to each Lease Period as set forth on Schedule 3-B to the Participation Agreement. Basic Rent shall be allocated to each calendar year in the Basic Term based upon the assumption that each calendar year in the Basic Term is 360 days, consisting of four 90-day quarters and twelve 30-day months. It is the intention of Lessor and Lessee that (x) the allocations of Basic Rent set forth on Schedule 3-B to the Participation Agreement constitute specific allocations of fixed rent within the meaning of Treasury Regulation Section 1.467-1(c)(2)(ii) and (y) the first three Lease Periods shall constitute a rent holiday to which no Basic Rent is allocated. Stipulated Loss Amounts and Termination Amounts have been calculated on the basis that (i) any Basic Rents actually due on the date of such calculation shall not have been paid made by Tenant and (ii) during the continuation of an Event of Default Landlord shall have no obligation to make any Basic Rents scheduled to have been paid prior to the date of such calculation are assumed to have been paid and have been appropriately reflected in such calculations. Lessor and Lessee agree to include in income and deduct the Basic Rents allocated to each Lease Period and calendar year according to Schedule 3-B of the Participation Agreement. Notwithstanding anything to the contrary contained herein or in the Participation Agreement, each installment further advances for installments of Basic Rent (both before payable under this Paragraph 1, and after Tenant shall make all further payments of Basic Rent from its own funds unless and until any adjustment pursuant to Section 2.6 such Event of the Participation Agreement) shall be, under any circumstances and in any event, in an amount at least sufficient for Lessor to pay in full as of the due date of such installment, an amount equal to the sum of (x) any payment of principal of and interest on the Equipment Notes required to be paid by Lessor pursuant to the Indenture on such due date in accordance with the Scheduled Amortization and (y) the Policy Provider Base Premium Amount required to be paid on the due date of such installmentDefault is cured.

Basic Rent. Lessee hereby agrees to pay to Lessor Basic Rent for each Unit throughout the Basic Term applicable thereto in consecutive monthly installments payable on each Rent Payment Date. Each such monthly payment of Basic Rent shall be in an amount equal to the product of the Equipment Cost for each such Unit subject to lease hereunder multiplied by the Basic Rent percentage set forth opposite such Rent Payment Date on Schedule 3-A to the Participation Agreement (as such Schedule 3-A shall be adjusted pursuant to Section 2.6 of the Participation Agreement). Notwithstanding Lessee's payment obligations set forth in the preceding two sentences, Lessee's liability on account of the use of the Units during each Lease Period shall accrue and be allocated within the meaning of Treasury Regulation Section 1. 467-1(c)(2)(ii)(A)(2) to each Lease Period as set forth on Schedule 3-B to the Participation Agreement. Agreement sets forth the Basic Rent allocated for Federal income tax purposes to each lease period and calendar year throughout the Basic Term and in addition, sets forth that for certain months, amounts of Basic Rent shall be allocated to each the following and/or preceding calendar year. Schedule 3-B to the Participation Agreement also sets forth the application of Basic Rent payments to the calendar year in the Basic Term based upon the assumption that each calendar year in the Basic Term is 360 days, consisting of four 90-day quarters and twelve 30-day monthsto which such payments relate. It is the intention of Lessor and Lessee that (x) the allocations of Basic Rent set forth on Schedule 3-B to the Participation Agreement constitute specific allocations of fixed rent within the meaning of Treasury Regulation Treas. Reg. Section 1.4671. 467-1(c)(2)(ii) and (y) the first three Lease Periods shall constitute a rent holiday to which no Basic Rent is allocated). Stipulated Loss Amounts and Termination Amounts have been calculated on the basis that (i) any Basic Rents actually due on the date of such calculation shall not have been be paid and (ii) any Basic Rents scheduled to have been paid prior to the date of such calculation are assumed to have been paid and have been appropriately reflected in such calculations. Lessor and Lessee agree to include in income and deduct the Basic Rents allocated to each Lease Period lease period and calendar year according to Schedule 3-B of the Participation Agreement. In addition, Lessor and Lessee intend that under no circumstances are any Basic Rents to be considered related to (i) any period after the calendar year succeeding the calendar year in which such Basic Rents are payable or any period before the calendar year preceding the calendar year in which such Basic Rents are payable or (ii) the period beginning on the Closing Date and ending on (but not including) August 17, 2001 (the "Basic Rent Holiday"). Notwithstanding anything to the contrary contained herein or in the Participation Agreement, each installment of Basic Rent (both before and after any adjustment pursuant to Section 2.6 of the Participation Agreement) shall be, under any circumstances and in any event, in an amount at least sufficient for Lessor to pay in full as of the due date of such installment, an amount equal to the sum of (x) any payment of principal of and interest on the Equipment Notes required to be paid by Lessor pursuant to the Indenture on such due date in accordance with the Scheduled Amortization and (y) the Policy Provider Base Premium Amount required to be paid on the due date of such installmentAmortization.

Basic Rent. Lessee hereby agrees to pay to Lessor as Basic ---------- Rent for each Unit throughout the Basic Term applicable thereto Basic Rent in consecutive monthly installments payable on each Rent Payment Date. Each such monthly payment of Basic Rent shall be in an amount equal to the product of the Equipment Cost for each such Unit subject to lease hereunder multiplied by the Basic Rent percentage for such Unit set forth opposite such Rent Payment Date on Schedule 3-A 3 to the Participation Agreement (as such Schedule 3-A 3 shall be adjusted pursuant to Section 2.6 of the Participation Agreement). Notwithstanding Lessee's payment obligations set forth Basic Rent shall be payable in the preceding two sentencesadvance on certain Rent Payment Dates and in arrears on certain Rent Payment Dates, Lessee's liability on account of the use of the Units during each Lease Period shall accrue and be allocated within the meaning of Treasury Regulation Section 1. 467-1(c)(2)(ii)(A)(2) to each Lease Period as set forth on specified in Schedule 3-B 3 to the Participation Agreement, as so adjusted, such Schedule 3 as so adjusted from time to time being incorporated herein by reference. Each installment of Basic Rent shall that is indicated as payable in advance will be allocated over the month beginning on the Rent Payment Date on which such advance payment is scheduled to be made, and each calendar year installment of Basic Rent that is indicated as payable in arrears will be accrued over the Basic Term based upon month ending on the assumption that each calendar year in the Basic Term Rent Payment Date on which such arrears payment is 360 days, consisting of four 90-day quarters and twelve 30-day monthsscheduled to be made. It is the intention of Lessor and Lessee that (x) the allocations of Basic Rent set forth on Schedule 3-B 3 to the Participation Agreement constitute specific allocations of fixed rent within the meaning of Treasury Regulation Section 1.467-1(c)(2)(iiProp. Treas. Reg. (S) and (y) the first three Lease Periods shall constitute a rent holiday to which no Basic Rent is allocated. Stipulated Loss Amounts and Termination Amounts have been calculated on the basis that (i) any Basic Rents actually due on the date of such calculation shall not have been paid and (ii) any Basic Rents scheduled to have been paid prior to the date of such calculation are assumed to have been paid and have been appropriately reflected in such calculations. Lessor and Lessee agree to include in income and deduct the Basic Rents allocated to each Lease Period and calendar year according to Schedule 3-B of the Participation Agreement1.467(1)(c). Notwithstanding anything to the contrary contained herein or in the Participation Agreement, each installment of Basic Rent (both before and after any adjustment pursuant to Section 2.6 of the Participation Agreement) shall be, under any circumstances and in any event, in an amount at least sufficient for Lessor to pay in full as of the due date of such installment, an amount equal to the sum of (x) any payment of principal of and interest on the Equipment Notes required to be paid by Lessor pursuant to the Indenture on such due date in accordance with the Scheduled Amortization and (y) the Policy Provider Base Premium Amount required to be paid on the due date of such installmentAmortization.

Basic Rent. Lessee hereby agrees to pay to Lessor Basic Rent for each Unit throughout the Basic Term applicable thereto in consecutive monthly installments payable on each Rent Payment Date. Each such monthly payment of Basic Rent shall be in an amount equal to the product of the Equipment Cost for each such Unit subject to lease hereunder multiplied by the Basic Rent percentage set forth opposite such Rent Payment Date on Schedule 3-A to the Participation Agreement (as such Schedule 3-A shall be adjusted pursuant to Section 2.6 of the Participation Agreement). Notwithstanding Lessee's payment obligations set forth in the preceding two sentences, Lessee's liability on account of the use of the Units during each Lease Period shall accrue and be allocated within the meaning of Treasury Regulation Section 1. 467-1(c)(2)(ii)(A)(2) to each Lease Period as set forth on Schedule 3-B to the Participation Agreement. Agreement sets forth the Basic Rent allocated for Federal income tax purposes to each lease period and calendar year throughout the Basic Term and in addition, sets forth that for certain months, amounts of Basic Rent shall be allocated to each the following and/or preceding calendar year. Schedule 3-B to the Participation Agreement also sets forth the application of Basic Rent payments to the calendar year in the Basic Term based upon the assumption that each calendar year in the Basic Term is 360 days, consisting of four 90-day quarters and twelve 30-day monthsto which such payments relate. It is the intention of Lessor and Lessee that (x) the allocations of Basic Rent set forth on Schedule 3-B to the Participation Agreement constitute specific allocations of fixed rent within the meaning of Treasury Regulation Section 1.467Treas. Reg. Section 1. 467-1(c)(2)(ii) and (y) the first three Lease Periods shall constitute a rent holiday to which no Basic Rent is allocated). Stipulated Loss Amounts and Termination Amounts have been calculated on the basis that (i) any Basic Rents actually due on the date of such calculation shall not have been be paid and (ii) any Basic Rents scheduled to have been paid prior to the date of such calculation are assumed to have been paid and have been appropriately reflected in such calculations. Lessor and Lessee agree to include in income and deduct the Basic Rents allocated to each Lease Period lease period and calendar year according to Schedule 3-B of the Participation Agreement. In addition, Lessor and Lessee intend that under no circumstances are any Basic Lease Agreement (TRLI 2001-1B) Rents to be considered related to (i) any period after the calendar year succeeding the calendar year in which such Basic Rents are payable or any period before the calendar year preceding the calendar year in which such Basic Rents are payable or (ii) the period beginning on the Closing Date and ending on (but not including) September 29, 2001 (the "Basic Rent Holiday"). Notwithstanding anything to the contrary contained herein or in the Participation Agreement, each installment of Basic Rent (both before and after any adjustment pursuant to Section 2.6 of the Participation Agreement) shall be, under any circumstances and in any event, in an amount at least sufficient for Lessor to pay in full as of the due date of such installment, an amount equal to the sum of (x) any payment of principal of and interest on the Equipment Notes required to be paid by Lessor pursuant to the Indenture on such due date in accordance with the Scheduled Amortization and (y) the Policy Provider Base Premium Amount required to be paid on the due date of such installmentAmortization.

Basic Rent. (a) Lessee and Lessor hereby agree that no Rent (other than Supplemental Rent, if any) shall be payable to Lessor during the Interim Term. Lessee hereby agrees to pay to Lessor Basic Rent for each Unit throughout the Basic Term applicable thereto on the first Rent Payment Date and in consecutive monthly semi-annual installments thereafter payable on each Rent Payment Date. Each such monthly payment of Basic Rent shall be in an amount equal to the product of the Equipment Cost for each such Unit subject to lease hereunder multiplied by the Basic Rent percentage for such Unit set forth opposite such Rent Payment Date on Schedule 3-A 2 to the Participation Agreement Lease Supplement for such Type of Equipment (as such Schedule 3-A 2 shall be adjusted pursuant to Section 2.6 of the Participation AgreementAgreement for the applicable Type of Equipment). Notwithstanding Lessee's payment obligations Basic Rent shall be payable on the Rent Payment Dates as set forth in Schedule 2 to the preceding two sentencesLease Supplement for the applicable Type of Equipment. Basic Rent shall be allocated and accrued for use of the Units as specified in Schedule 5 to the Lease Supplement for the applicable Type of Equipment. For the avoidance of doubt, and notwithstanding anything to the contrary herein, the parties agree that irrespective of Lessee’s payment obligation on each Rent Payment Date, Lessee's ’s liability on account of the use of the Units during each Lease Period Unit shall accrue and be allocated within the meaning of Treasury Regulation Section 1. 467-1(c)(2)(ii)(A)(2) to each Lease Period as period in the amount set forth on in Schedule 3-B 5 to the Participation AgreementLease Supplement for the applicable Type of Equipment. Basic Rent allocated to any Lease period shall be further allocated ratably to each day within such Lease period. Basic Rent shall be allocated to each calendar year in the Basic Lease Term based upon the assumption that each calendar year in the Basic Lease Term is 360 days, consisting of four 90-day quarters and twelve 30-day months. It is the intention of Lessor and Lessee that (x) the allocations of Basic Rent to each Lease period in the amount set forth on in Schedule 3-B to the Participation Agreement 3B constitute specific allocations of fixed rent within the meaning of Treasury Regulation Section section 1.467-1(c)(2)(ii). (b) and (y) the first three Lease Periods shall constitute a rent holiday to which no Basic Rent is allocated. Stipulated Loss Amounts and Termination Amounts have been calculated on the basis that (i) any Basic Rents actually due on the date of such calculation shall not have been paid and (ii) any Basic Rents scheduled to have been paid prior to the date of such calculation are assumed to have been paid and have been appropriately reflected in such calculations. Lessor and Lessee agree to include in income and deduct the Basic Rents allocated to each Lease Period and calendar year according to Schedule 3-B of the Participation Agreement. Notwithstanding anything to the contrary Anything contained herein or in the Participation AgreementAgreement to the contrary notwithstanding, each installment of Basic Rent (both before and after any adjustment pursuant to Section 2.6 of the Participation Agreement) shall be, under any circumstances and in any event, in an amount at least sufficient for Lessor to pay in full as of the due date of such installmentamount, an amount equal to the sum of (x) any payment of principal of and interest on the Equipment Notes required to be paid by Lessor pursuant to the Indenture on such due date in accordance with the Scheduled Amortization and (y) the Policy Provider Base Premium Amount required to be paid on the due date of such installmentdate.

Basic Rent. Lessee hereby agrees to pay to Lessor Basic Rent for each Unit throughout the Basic Term applicable thereto in consecutive monthly installments payable on each Rent Payment Date. Each such monthly payment of Basic Rent shall be in an amount equal to the product of the Equipment Cost for each Unit subject to lease hereunder multiplied by the Basic Rent percentage set forth opposite such Rent Payment Date on Schedule 3-A to the Participation Agreement (as such Schedule 3-A shall be adjusted pursuant to Section 2.6 of the Participation Agreement). Notwithstanding Lessee's payment obligations set forth in the preceding two sentences, Lessee's liability on account of the use of the Units during each Lease Period shall accrue and be allocated within the meaning of Treasury Regulation Section 1. 467-1(c)(2)(ii)(A)(2) to each Lease Period as set forth on Schedule 3-B to the Participation Agreement. Basic Rent shall be allocated to each calendar year in the Basic Term based upon the assumption that each calendar year in the Basic Term is 360 days, consisting of four 90-day quarters and twelve 30-day months. It is the intention of Lessor and Lessee that (x) the allocations of Basic Rent set forth on Schedule 3-B to the Participation Agreement constitute specific allocations of fixed rent within the meaning of Treasury Regulation Section 1.467-1(c)(2)(ii) and (y) the first three Lease Periods shall constitute a rent holiday to which no Basic Rent is allocated. Stipulated Loss Amounts and Termination Amounts have been calculated on the basis that (i) any Basic Rents actually due on the date of such calculation shall not have been paid and (ii) any Basic Rents scheduled to have been paid prior to the date of such calculation are assumed to have been paid and have been appropriately reflected in such calculations. Lessor and Lessee agree to include in income and deduct the Basic Rents allocated to each Lease Period and calendar year according to Schedule 3-B of the Participation Agreement. It is the intention of the parties hereto that Basic Rent shall constitute "fixed rent" within the meaning of Treasury Regulation Section 1. 467-1(h)(3) and that Basic Rent paid shall always equal Basic Rent allocated. In the event that (i) the amount of fixed rent payable under the Lease is deemed to be less than or more than the aggregate amount of Basic Rent identified on Schedule 3-A to the Participation Agreement and (ii) such increase is deemed to be an increase of fixed rent (within the meaning of Treasury Regulation Section 1. 467-1(h)(3)) or such decrease is deemed to be a decrease of fixed rent (within the meaning of Treasury Regulation Section 1.467-1(h)(3)), then the amount of Basic Rent allocated on Schedule 3-B to the Participation Agreement for each Lease Period shall be increased or decreased, as the case may be, by an amount equal to the deemed increase or decrease in Basic Rent payments multiplied by a fraction, the numerator of which is equal to the amount of Basic Rent allocated for such Lease Period on Schedule 3-B to the Participation Agreement and the denominator of which is the aggregate amount of the Basic Rent allocated for all Lease Periods on Schedule 3-B to the Participation Agreement. The adjusted Basic Rent allocated shall constitute Basic Rent allocated for all purposes of this Lease. Notwithstanding anything to the contrary contained herein or in the Participation Agreement, each installment of Basic Rent (both before and after any adjustment pursuant to Section 2.6 of the Participation Agreement) shall be, under any circumstances and in any event, in an amount at least sufficient for Lessor to pay in full as of the due date of such installment, an amount equal to the sum of (x) any payment of principal of and interest on the Equipment Notes required to be paid by Lessor pursuant to the Indenture on such due date in accordance with the Scheduled Amortization and (y) the Policy Provider Base Premium Amount required to be paid on the due date of such installment.