Common use of Failure to Return Aircraft or Engines Clause in Contracts

Failure to Return Aircraft or Engines. If Lessee shall, for any reason whatsoever, fail to return the Aircraft or any Engine at the time specified herein, the obligations of Lessee as provided in this Lease (including the obligation to pay Rent on the same basis as that applicable immediately prior to such failure) shall continue in effect with respect to the Aircraft or such Engine until the Aircraft or such Engine is returned to Lessor; but this Section 5.5 shall not be construed as permitting Lessee to fail to meet its obligation to return the Aircraft or such Engine in accordance with the requirements of this Lease or constitute a waiver of a Lease Event of Default.

Appears in 5 contracts

Samples: Sale and Lease Agreement (Southwest Airlines Co), Sale and Lease Agreement (Southwest Airlines Co), Sale and Lease Agreement (Southwest Airlines Co)

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Failure to Return Aircraft or Engines. If Lessee shall, for any reason whatsoever, fail to return the Aircraft or any Engine at the time specified herein, the obligations of Lessee as provided in this Lease (including the obligation to pay Rent on the same basis as that applicable immediately prior to such failure) shall continue in effect with respect to the Aircraft or such Engine until the Aircraft or such Engine is returned SALE AND LEASE AGREEMENT 16 to Lessor; but this Section 5.5 5.7 shall not be construed as permitting Lessee to fail to meet its obligation to return the Aircraft or such Engine in accordance with the requirements of this Lease or constitute a waiver of a Lease Default or Lease Event of Default.

Appears in 3 contracts

Samples: Sale and Lease Agreement (American Income Fund I-E), Sale and Lease Agreement (American Income Fund I-E), Sale and Lease Agreement (American Income Fund I-E)

Failure to Return Aircraft or Engines. If Lessee shall, for any reason whatsoever, fail to return the Aircraft or any Engine at the time and in the condition specified herein, the obligations of Lessee as provided in this Lease (including the obligation to pay Rent on the same basis as that applicable immediately prior to such failure) shall continue in effect with respect to the Aircraft or such Engine until the Aircraft or such Engine is returned to LessorLessor at the location set forth in Section 5.1; but this Section 5.5 shall not be construed as permitting Lessee to fail to meet its obligation to return the Aircraft or such Engine in accordance with the requirements of this Lease or constitute a waiver of a Lease Event of Default.

Appears in 2 contracts

Samples: Sale and Lease Agreement (Southwest Airlines Co), Sale and Lease Agreement (Southwest Airlines Co)

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Failure to Return Aircraft or Engines. If Lessee shall, for any -------------------------------------- reason whatsoever, fail to return the Aircraft or any Engine at the time specified herein, the obligations of Lessee as provided in this Lease (including the obligation to pay Rent on the same basis as that applicable immediately prior to such failure) shall continue in effect with respect to the Aircraft or such Engine until the such Aircraft or such Engine is returned to Lessor; but this Section 5.5 5.6 shall not be construed as permitting Lessee to fail to meet its obligation obligations to return the Aircraft or such Engine in accordance with the requirements of this Lease or constitute a waiver of a Lease Default or Lease Event of Default.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Airlease LTD)

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