Common use of LEASE MANAGEMENT Clause in Contracts

LEASE MANAGEMENT. (i) The Owner Participant shall collect insurance certificates and other notices or documents from the Lessee as and when required to be provided under the Lease, and shall otherwise administer the Lease in accordance with its terms in accordance with the Standard of Care. As used in this Section 9(j), “Standard of Care” shall mean reasonable care and diligence consistent with the customary commercial practices of the Owner Participant or its Affiliates that it applies under similar circumstances with respect to other aircraft owned by the Owner Participant or its Affiliates. Notwithstanding the foregoing, the Owner Participant will have no obligation to otherwise monitor performance by the Lessee of its obligations under the Lease, perform inspections or repossess or remarket the Aircraft or any other Collateral in the case of a default under the Lease.