Destruction of Aircraft. If the Aircraft is lost, stolen, totally destroyed, damaged beyond repair or permanently rendered unfit for use for any reason whatsoever, the liability of the Lessee to pay Rent therefor may be discharged by paying to Lessor all the Rent due thereon, plus all the Rent to become due thereon less the net amount of the recovery, if any, actually received by Lessor from insurance or otherwise for such loss or damage. Lessor shall not be obligated to undertake, by litigation or otherwise, the collection of any claim against any person for loss or damage of the Aircraft. Except as expressly provided in this paragraph, the total or partial destruction of the Aircraft, or total or partial loss of use or possession thereof to Lessee, shall not release or relieve Lessee from the duty to pay the Rent herein provided.
Destruction of Aircraft. If an Aircraft is destroyed, or otherwise suffers a casualty occurrence that would constitute a total loss or a constructive total loss under the terms of the hull insurance maintained by Airco with respect to such Aircraft, this Agreement shall terminate with respect to such Aircraft as of the date of the loss, and Groundco shall have no further obligation or liability to Airco with respect to such Aircraft.
Destruction of Aircraft. In the event that the Aircraft is destroyed, lost or damaged beyond repair, whether due to casualty, mechanical failure, or otherwise, this Lease shall automatically terminate as of the date of such destruction, loss or damage, and neither party shall have any further obligations hereunder; provided, however, that such termination shall in no way effect, impair or limit (a) any liability or obligation of one party to the other which had occurred prior to such destruction, loss or damage, or (b) any liability of the Lessees to CFS and/or CFS to the Lessees as a result of negligence or willful misconduct resulting in such destruction, loss or damage.
Destruction of Aircraft. If an Aircraft is destroyed, or otherwise suffers a casualty occurrence that would constitute a total loss or a constructive total loss under the terms of the hull insurance maintained by ABX or DHL with respect to such Aircraft, then this Agreement shall terminate with respect to such Aircraft as of the date of the loss, the Monthly Fixed Charge will be reduced as provided herein and none of the Parties shall have any further obligation or liability to the others with respect to such Aircraft.
Destruction of Aircraft. 42 ARTICLE XV FORCE MAJEURE..........................................................................42 Section 15.1 Suspension of Obligations........................................................42
Destruction of Aircraft. If an Aircraft is destroyed, or otherwise suffers a casualty occurrence that would constitute a total loss or a constructive total loss under the terms of the hull insurance maintained by ABX or DHL with respect to such Aircraft, then this Agreement shall terminate with respect to such Aircraft as of the date of the loss, the Weekly Base Rate will be reduced as provided herein and neither Party shall have any further obligation or liability to the other with respect to such Aircraft, except to the extent provided as follows: (i) In the event the Aircraft was subject to an Aircraft Lease Agreement and was among the nine (9) 767 PTF Aircraft described in Section 3.2(a) (or a Bridging Aircraft in lieu thereof under the circumstances described in Section 3.4(b)), then ABX or its Affiliate, as applicable, shall reimburse to DHL an amount constituting the net present value (utilizing an eight percent (8%) discount rate) (the “NPV”) of the product of $[*] and the number of months (prorated for partial months based on the number of days in the relevant month) that were remaining under the term of such Aircraft Lease Agreement as of the date of such loss; (ii) In the event that the destruction of the Aircraft was the fault of ABX, as determined by a Governmental Authority or recognized court of law having jurisdiction over the matter, then DHL shall have no obligation to pay to ABX or ABX shall promptly reimburse to DHL, as applicable, the one-time fee set forth in the Aircraft/Crew Flight Table attached to Exhibit H for any reduction in the number of Flight Crews resulting from the destruction of such Aircraft; and (iii) ABX’s exclusivity right with respect to the operation of up to thirteen (13) Boeing 767-200 series freighter aircraft during the initial five (5) years of the Term shall be reduced by one (1) aircraft, unless and until such time as ABX or its Affiliate, as lessor, leases to DHL or its Affiliate, as lessee, and such lessee leases from such lessor, a Boeing 767-200 series freighter aircraft, equipped with a standard cargo door, in substitution for such Aircraft.
Destruction of Aircraft. If an Aircraft suffers a total or constructive loss or is otherwise damaged beyond repair for any reason before Delivery, Seller will notify Buyer in writing of the earliest month possible, consistent with Seller’s other contractual commitments and production capabilities, in which Seller can deliver a replacement Aircraft. Buyer shall notify Seller in writing within thirty (30) days of its receipt of such notice from Seller whether it elects to accept such replacement aircraft. Any such replacement aircraft shall become an Aircraft hereunder and be manufactured and delivered in accordance with the terms hereof. The Scheduled Delivery Period for such Aircraft shall be as set forth in the notice from Seller to Buyer. If Buyer elects not to accept a replacement aircraft, this Agreement shall be terminated only with respect to such Aircraft. Seller will not be obligated to manufacture a replacement aircraft if reactivation of the production line for the specific model of aircraft would be required.
