Common use of Interim and Basic Rent Clause in Contracts

Interim and Basic Rent. No Interim Rent or Basic Rent shall be paid during the Preliminary Lease Term. Lessee hereby agrees to pay to Lessor (i) Interim Rent for the Interim Lease Term with respect to the Aircraft on the first Rent Payment Date set forth on Exhibit C, and (ii) Basic Rent for the Base Lease Term with respect to the Aircraft on each subsequent Rent Payment Date set forth in Exhibit C, in each case in an amount equal to the percentage of Lessor's SALE AND LEASE AGREEMENT [N604SW] -13- 20 Cost of the Aircraft set forth in Exhibit C opposite such Rent Payment Date, subject to the terms of the next succeeding paragraphs of this Section 3.3 and Section 3.7. Each installment (or portion of an installment) of Interim Rent or Basic Rent under the heading "Advance" in Exhibit C payable on a Rent Payment Date shall relate to the respective Lease Period immediately following such Rent Payment Date, and each installment (or portion of an installment) of Interim Rent or Basic Rent under the heading "Arrears" in Exhibit C payable on a Rent Payment Date shall relate to the respective Lease Period immediately preceding such Rent Payment Date.

Interim and Basic Rent. No Interim Rent or Basic Rent shall be paid during the Preliminary Lease Term. Lessee hereby agrees to pay to Lessor (i) Interim Rent for the Interim Lease Term with respect to the Aircraft on the first Rent Payment Date set forth on Exhibit C, and (ii) Basic Rent for the Base Lease Term with respect to the Aircraft on each subsequent Rent Payment Date set forth in Exhibit C, in each case in an amount equal to the percentage of Lessor's SALE AND LEASE AGREEMENT [N604SW] -13- 20 Cost of the Aircraft set forth in Exhibit C opposite such Rent Payment Date, subject to the terms of the next succeeding paragraphs of this Section 3.3 and Section 3.7. Each installment (or portion of an installment) of Interim Rent or Basic Rent under the heading "Advance" in Exhibit C payable on a Rent Payment Date shall relate to the respective Lease Period immediately following such Rent SALE AND LEASE AGREEMENT [N603SW] -13- 20 Payment Date, and each installment (or portion of an installment) of Interim Rent or Basic Rent under the heading "Arrears" in Exhibit C payable on a Rent Payment Date shall relate to the respective Lease Period immediately preceding such Rent Payment Date.