Equivalency Charge. If the Sublessee does not meet any of the remaining life conditions set forth in Section 1.1 and 1.2, unless otherwise specified therein, in place of correcting the specified hour, cycle or calendar life deficiency, Sublessee may elect to pay to Sublessor an Equivalency Charge (for deficient condition) calculated in accordance with the following formula (if the formula results in a positive amount): Pmt = [A (b-c)]/d Where:
Appears in 1 contract
Equivalency Charge. If the Sublessee does not meet any of the remaining life conditions set forth in Section 1.1 and 1.2, unless otherwise specified therein, in place of correcting the specified hour, cycle or calendar life deficiency, Sublessee may elect to pay to Sublessor an Equivalency Charge (for deficient condition) calculated in accordance with the following formula (if the formula results in a positive amount): Pmt = [A (b-c)]/d Where:
Appears in 1 contract