Event of Loss with Respect to the Aircraft. Upon the occurrence of an Event of Loss with respect to the Aircraft during the Term, Lessee shall forthwith (and in any event within seven (7) days after such occurrence) give Lessor written notice of such Event of Loss. On the "Casualty Termination Date" (which is defined as the earlier of: (x) the date on which insurance proceeds are paid, or (y) the date which is the first Rent Payment Date occurring not less than 60 days after such Event of Loss), Lessee shall pay Lessor an amount equal to the sum of (i) the Stipulated Loss Value of such Aircraft as of the Casualty Termination Date, plus (ii) if not previously paid by Lessee, all other Rent due and payable on or prior to such Casualty Termination Date. Notwithstanding such Event of Loss, Lessee's obligation to pay Basic Rent hereunder up to such Casualty Termination Date shall continue, such Basic Rate to be payable on the due date therefor. Upon payment in full of the Stipulated Loss Value for the Aircraft and other Rent payable as provided in the immediately preceding paragraph, (xx) this Lease (except for Supplemental Rent obligations surviving pursuant to Section 14 hereof or which have otherwise accrued but not been paid as of the date of such payment) shall terminate; (yy) any remaining insurance proceeds (other than proceeds of policies maintained by Lessor for its own account) shall be promptly paid over to Lessee; subject to the rights of any Insured Party under the Operative Agreements and (zz) Lessor shall subject to the rights of insurers and other Insured Parties seek to cause title to such Airframe, Engines and Propellers to be conveyed to Lessee or its designee, as-is, where-is, without recourse or warranty, express or implied, except for a warranty from Lessor against Lessor's Liens, and shall exercise such rights as it has to cause the release of the Lien of the Mortgage.
Event of Loss with Respect to the Aircraft. (a) Upon the occurrence of an Event of Loss with respect to the Airframe or the Airframe and the Engines and/or engines then installed thereon, Lessee shall promptly, and in any event, within 15 Business Days after such occurrence, give Lessor written notice of such Event of Loss. After an Event of Loss and until receipt by Lessor of the Stipulated Loss Value and all other amounts due under the Lease, Lessee shall continue to pay Basic Rent and the parties shall perform all of their other obligations under the Lease that remain possible of performance taking into consideration the Event of Loss. Lessee shall, within 45 days after such occurrence, give Lessor written notice of its election to perform one of the following options (it being agreed that if Lessee has not have given Lessor notice of such election, Lessee shall be deemed to have elected the option described in clause (ii) below:
Event of Loss with Respect to the Aircraft. (i) Upon the occurrence of an Event of Loss with respect to the Airframe or the Airframe and Engines and/or engines then installed thereon, Lessee shall forthwith (and, in any event, within three (3) days after such occurrence) give Lessor written notice of such Event of Loss. By the earlier of (y) sixty (60) days following the Event of Loss Date or (z) the date on which the applicable insurance proceeds are received by the loss payee, Lessee shall pay or cause to be paid to Lessor in immediately available funds the Stipulated Loss Value of the Aircraft together with all other amounts then due and owing by Lessee hereunder.
Event of Loss with Respect to the Aircraft. (a) Upon the occurrence of an Event of Loss with respect to the Airframe or the Airframe, any Engines and/or engines then installed thereon, the Borrower shall forthwith but in any event within 15 days of such occurrence give each Holder and the Indenture Trustee written notice of such Event of Loss, and within sixty (60) days after such occurrence, give the Indenture Trustee written notice of its election to perform one of the following options (it being understood that the failure to give such notice shall be deemed to be an election of the option set forth in paragraph (1) below.
Event of Loss with Respect to the Aircraft. Upon the occurrence of an Event of Loss with respect to the Airframe or the Airframe and the Engines and/or engines then installed thereon, the Owner shall forthwith (and in any event, within fifteen (15) days after such occurrence) give the Indenture Trustee written notice of such Event of Loss, and within forty-five (45) days after such Event of Loss the Owner shall give the Indenture Trustee written notice of its election to perform one of the following options (it being agreed that if the Owner shall not have given such notice of election within such period, the Owner shall be deemed to have elected the option set forth in clause (i) below). The Owner may elect either to:
Event of Loss with Respect to the Aircraft. Upon the occurrence of an Event of Loss with respect to the Airframe or the Airframe and the Engines and/or engines then installed thereon, the Borrower shall forthwith give the Administrative Agent and the Lenders written notice of such Event of Loss but in any event within five days of such occurrence. On the earlier of (x) the 90th day following the occurrence of such Event of Loss or (y) the fifth Business Day following the receipt of the insurance proceeds in respect of such Event of Loss, the Borrower shall pay or cause to be paid to the Administrative Agent an amount equal to the aggregate amount of the payment or payments of principal, Break Amount (if any), Additional Costs, interest and other amounts then due on or in respect of the Notes and all other amounts due under the Operative Documents.
Event of Loss with Respect to the Aircraft. Upon the occurrence of an Event of Loss with respect to the Airframe or the Airframe and the Engines and/or engines then installed thereon, Lessee shall forthwith (and in any event, within fifteen (15) days after such occurrence) give Lessor written notice of such Event of Loss, and, within sixty (60) days after such Event of Loss, Lessee shall give Lessor written notice of its election to perform one of the following options (it being agreed that if Lessee shall not have given such notice of election within such period, Lessee shall be deemed to have elected the option set forth in CLAUSE (l) below). Lessee may elect either to:
Event of Loss with Respect to the Aircraft. 10.2.1 Upon the occurrence of an Event of Loss with respect to the Airframe or the Airframe and Engines, Lessee shall forthwith (and, in any event, within three days after such occurrence) give Lessor and Security Agent written notice of such Event of Loss. By the earlier of (1) 60 days after the occurrence of such Event of Loss or (2) the date on which the applicable insurance or requisition proceeds are paid, Lessee shall pay or cause to be paid to Lessor in immediately available funds the Stipulated Loss Value (but only to the extent the full amount of the Stipulated Loss Value was not obtained and applied by Lessor pursuant to Section 11.2.1 or received by Lessor from the relevant Government Entity in connection with any requisition).
Event of Loss with Respect to the Aircraft. Upon the occurrence of an Event of Loss with respect to the Aircraft, Mortgagor shall give Collateral Agent prompt written notice thereof, stating the circumstances of such Event of Loss. No later than one hundred twenty (120) days after the date of such Event of Loss (or ten (10) days after receipt of insurance proceeds, whichever is sooner), Mortgagor shall repay the outstanding principal balance under the Loan Agreement and the Note and all other Secured Obligations in full with no Prepayment Premium. In the event that the insurance proceeds have not been received within one hundred twenty (120) days, the time allowable for payment to the Collateral Agent will extended for up to ninety (90) additional days if and such Event of Loss is a covered event under the applicable insurance and Mortgagor is diligently pursuing coverage.
Event of Loss with Respect to the Aircraft the Airframe or any Engine shall mean any of the following events with respect to such property: (i) loss of such property or the use thereof due to theft, disappearance, destruction, damage beyond repair or rendition of such property permanently unfit for normal use for any reason whatsoever; (ii) any damage to such property which results in an insurance settlement with respect to such property on the basis of a total loss; (iii) requisition of title by any government or governmental agency or requisition of use ("REQUISITION FOR USE") by any government or governmental agency (other than the United States of America or any agency or subdivision thereof) for more than 90 days; (iv) as a result of any rule, regulation, order or other action by the FAA or other governmental body (including, without limitation, any foreign governmental body) having jurisdiction, the use of such property in the normal course of business of air transportation shall have been prohibited, or such property shall have been declared unfit for use, for a period of six consecutive months, unless the Borrower, prior to the expiration of such six-month period, shall have undertaken and, in the opinion of Bank, shall be diligently carrying forward all steps which are necessary or desirable to permit the normal use of such property by the Borrower or, in any event, if use shall have been prohibited, or such property shall have been declared unfit for use, for a period of eighteen consecutive months; and (v) with respect to the Aircraft, the operation or location of the Aircraft while under Requisition of Use by the United States government, or any state or local authority within the United States or any instrumentality or agency of the foregoing, in any area excluded from coverage by any insurance policy in effect with respect to the Aircraft required by the terms of Section 7.1 hereof, if the Borrower is unable to obtain indemnity in lieu thereof from such government, authority, instrumentality or agency or if the Borrower is unable to effect such special insurance coverage as the Bank may reasonably require. The date of occurrence of such Event of Loss shall be the date of such theft, disappearance, destruction, damage, Requisition of Use or prohibition of, or unfitness for use, for the stated period. An Event of Loss with respect to the Aircraft shall be deemed to have occurred if an Event of Loss occurs with respect to the Airframe. An Event of Loss with respect to any Engine shall no...
