Engine Maintenance Reserves Sample Clauses
The Engine Maintenance Reserves clause requires the lessee of an aircraft to make periodic payments to the lessor to cover the anticipated costs of engine maintenance and overhauls. These payments are typically calculated based on the number of hours the engine is operated or cycles completed, and are held in reserve by the lessor until major maintenance is needed. This clause ensures that funds are available for expensive engine repairs or replacements, thereby protecting the lessor from financial risk and ensuring the aircraft remains in good operational condition throughout the lease term.
Engine Maintenance Reserves. Sublessor will reimburse Sublessee from the actual Engine Maintenance Reserves, if paid by Sublessee, provided that no Default has occurred and is continuing, for the actual cost of completed Engine Performance Restoration Visits to the extent the work performed during such Engine Performance Restoration Visits consisted of the replacement of life/time limited components and/or performance restoration, with work performed for all other causes excluded, including those causes set forth in Clause 9.4.5 below. Reimbursement will be made up to the amount in the Engine Maintenance Reserve applicable to such Engine.
Engine Maintenance Reserves. Lessor will reimburse Lessee from the actual Engine Maintenance Reserves, if paid by Lessee, provided that no Default has occurred and is continuing, for the actual cost of completed Engine Performance Restoration Visits to the extent the work performed during such Engine Performance Restoration Visits consisted of the replacement of life/time limited components resulting in performance restoration, with work performed for all other causes excluded, including those causes set forth in Clause 9.4.5 below. Reimbursement will be made up to the amount in the Engine Maintenance Reserve applicable to such Engine.
Engine Maintenance Reserves. Sublessor will reimburse Sublessee from the actual Engine Maintenance Reserves, if paid by Sublessee, provided that no Default has occurred and is continuing, for the actual cost of completed Engine Performance Restoration Visits to the extent the work performed during such Engine Performance Restoration Visits consisted of the replacement of life/time limited components and/or performance restoration, with work performed for all other causes excluded, including those causes set forth in Clause 9.4.5 below. Reimbursement will be made up to the amount in the Engine Maintenance Reserve applicable to such Engine. Notwithstanding Clause 9.5 herein, if the cost of work as provided in this Clause 9.4.2 exceeds the Engine Maintenance Reserve applicable to such Engine, Sublessor agrees to reimburse Sublessee such excess from the other Engine Maintenance Reserve Account up to the balance of the other Engine account at time of Sublessee notification to Sublessor, not exceeding 30 days from the completion of work..