Common use of Delayed Delivery Clause in Contracts

Delayed Delivery. 5.2.1 If any of the following events occurs: (a) Lessee fails to take delivery of the Aircraft on the date the Aircraft is tendered for delivery to Lessee in accordance with clause 5.1.2 in the Delivery Condition for any reason whatsoever (including as a result of any delay in obtaining any approval, consent or other thing from any Government Entity) and each of the Lessee Conditions Precedent has been satisfied, waived or deferred; or (b) Lessee fails to cause each of the Lessor Conditions Precedent that are within the reasonable control of Lessee to be satisfied (other than those that have been waived or deferred until after Delivery by Lessor) by the date the Aircraft is tendered for delivery to Lessee in accordance with clause 5.1.2 and each of the Lessee Conditions Precedent has been satisfied, waived or deferred, then, without prejudice to any other rights and remedies of Lessor (including Lessor’s rights and remedies following an Event of Default), (i) the Lease Term shall commence on the date of such event and (ii) the First Basic Rent Date shall occur on the earlier of (x) the date that falls two (2) months after the date of such event and (y) the date on which the Aircraft is released for service at completion of the Post-Delivery Maintenance. 5.2.2 ▇▇▇▇▇▇ will indemnify each Relevant Party for all Losses incurred as a result of any event described in clause 5.2.1, including costs and expenses relating to storage, insurance and maintenance of the Aircraft.

Delayed Delivery. 5.2.1 If any of the following events occurs: (a) Lessee fails to take delivery of the Aircraft on the date the Aircraft is tendered for delivery to Lessee in accordance with clause 5.1.2 in the Delivery Condition for any reason whatsoever (including as a result of any delay in obtaining any approval, consent or other thing from any Government Entity) and each of the Lessee Conditions Precedent has been satisfied, waived or deferred; or (b) Lessee fails to cause each of the Lessor Conditions Precedent that are within the reasonable control of Lessee to be satisfied (other than those that have been waived or deferred until after Delivery by Lessor) by the date the Aircraft is tendered for delivery to Lessee in accordance with clause 5.1.2 and each of the Lessee Conditions Precedent has been satisfied, waived or deferred, then, without prejudice to any other rights and remedies of Lessor (including Lessor’s rights and remedies following an Event of Default), (i) the Lease Term shall commence on the date of such event and (ii) the First Basic Rent Date shall occur on the earlier of (x) the date that falls two (2) months after the date of such event and (y) the date on which the Aircraft is released for service at completion of the Post-Delivery Maintenance. 5.2.2 ▇L▇▇▇▇▇ will indemnify each Relevant Party for all Losses incurred as a result of any event described in clause 5.2.1, including costs and expenses relating to storage, insurance and maintenance of the Aircraft.