Common use of EXCEEDING DAMAGE NOTIFICATION THRESHOLD Clause in Contracts

EXCEEDING DAMAGE NOTIFICATION THRESHOLD. all insurance proceeds in excess of the Damage Notification Threshold of any property, damage or loss to the Engine or any Part occurring during the Term not constituting an Event of Loss will be paid to Lessor and applied in payment (or to reimburse Lessee) for repairs or replacement property effected in accordance with the Lease. Subject to Section 5.20 (Set-Off) of the CTA, any balance remaining shall be paid by Lessor to Lessee;

EXCEEDING DAMAGE NOTIFICATION THRESHOLD. all insurance proceeds in excess of the Damage Notification Threshold of any property, damage or loss to the any Engine or any Part occurring during the Term not constituting an Event of Loss and in excess of the Damage Notification Threshold will be paid to Lessor as sole loss payee, and applied in payment (or to reimburse Lessee) for repairs or replacement property upon Lessor being satisfied that the repairs or replacement have been effected in accordance with the Lease. Subject to Section 5.20 (Set-Off) of the CTA, any Any balance remaining shall be he paid to or retained by Lessor to Lesseeor Owner, as the case may be;