LESSEE'S CONTINUING OBLIGATIONS. In the event that LESSEE does not return the Aircraft to LESSOR on the Expiration Date and in the condition required by this Article 23 for any reason (whether or not the reason is within LESSEE's control):
LESSEE'S CONTINUING OBLIGATIONS. (a) If Lessee shall, for any reason whatsoever, fail to return the Aircraft in a timely manner in the condition specified in this Lease, the Obligations of Lessee shall continue and the Lease Term shall be deemed to be extended, day-to-day, until Return of the Aircraft; provided that this paragraph shall not be construed as permitting Lessee to fail to meet its Obligation to return the Aircraft in accordance with the requirements of this Lease and shall not constitute a waiver by Lessor of any Default or Event of Default arising out of such failure or prejudice the rights of Lessor under Article 24 with respect thereto.
LESSEE'S CONTINUING OBLIGATIONS. In the event that Lessee does not return the Aircraft to Lessor on the Expiration Date and in the condition required by this Article 21 for any reason other than as a result of an act or omission of Lessor, Lessor’s Lender or the performance of additional work requested by Lessor:
LESSEE'S CONTINUING OBLIGATIONS. In the event that Lessee does not return the Aircraft to Lessor on the last day of the Term in the condition required by Sections 18.01 through 18.04, whether as a result of any termination under Section 17.02 or otherwise, and whether or not the reason for such failure to return is within the control of Lessee:
LESSEE'S CONTINUING OBLIGATIONS. The parties hereto agree that, in the event of termination of this Agreement by Lessor pursuant to clause (i) of Section 9(b) hereof, Lessee's obligation to pay Rent for the remainder of the term of this Agreement pursuant to the terms of this Agreement shall continue, and Lessee shall remain liable to pay to Lessor all such amounts owed to Lessor which have accrued (whether or not invoiced) prior to such termination. This subsection shall not otherwise limit the remedies available to a party upon the breach of this Agreement by the other party.
LESSEE'S CONTINUING OBLIGATIONS. In the event that Lessee does not return the Engine to Lessor upon termination of this Lease (including, without limitation, any termination resulting from an Event of Default by Lessee) and in the condition required herein for any reason, the obligations of Lessee under this Lease shall continue; provided, however, that such failure to return the Engine to Lessor in such condition shall not be the result of a breach by Lessor of its covenant of quiet enjoyment which has resulted in Lessee having been deprived of use and possession of the Engine immediately prior to such termination, in which case the Engine shall be returned in its then condition provided that, immediately prior to such breach by Lessor of its covenant of quiet enjoyment such Engine shall have been in such condition as to meet the requirements of Section 8 hereof but for such breach. Such continuation of Lessee's obligations shall not be considered a renewal of the terms of this Lease or of Lessee's rights to use the Engine, an extension of the Lease Term or a waiver of any Default or Event of Default or any right of Lessor hereunder. Until such time as the Engine is redelivered to Lessor as required herein, Lessee agrees, during the first thirty (30) days following the termination hereof, to pay Basic Rent with interest at the Post-Default Rate and thereafter to pay twice the amount of Basic Rent for each day from such thirtieth (30th) day after the termination hereof until redelivery of the Engine in the condition required hereunder (the monthly Basic Rent payable being prorated based on the actual number of days in the applicable month).
LESSEE'S CONTINUING OBLIGATIONS. In the event that the Engine is serviceable and Lessee does not dispatch the Engine to Lessor for redelivery on the Lease End Date or other date of valid termination of the Lease, or Lessee does not redeliver the Engine in the condition required by the Lease for any reason (whether or not the reason is within Lessee’s control):
LESSEE'S CONTINUING OBLIGATIONS. Notwithstanding Section 21.1.5, in the event that Lessee does not return the Aircraft to Lessor in compliance with the Return Conditions and otherwise in accordance with this Section 22, Lessee will (at Lessor’s option):
LESSEE'S CONTINUING OBLIGATIONS. Except for the obligation to pay Seller for the Equipment if (and only if) the Equipment is accepted by Lessee pursuant to the Agreement, Lessee's assignment to Lessor shall not include any of Lessee's obligations under the Purchase Documents, and Lessee shall at all times remain liable to Seller to perform all of the duties and obligations of the purchaser under such Purchase Documents to the same extent as if an assignment had not occurred. The exercise by Lessor of any of the rights assigned hereunder shall not release Lessee from any of Lessee's duties or obligations to the Seller under the Purchase Documents. This assignment may not be amended or modified except in a writing signed by the parties hereto. Lessee: Independent Bankshares, Inc. By: /s/Xxxxx X. Xxxxxxxxxx ---------------------------- (Lessee Authorized Signature) Xxxxx X. Xxxxxxxxxx --------------------------------- (Type/Print Name) President/CEO --------------------------------- (Title) June 23, 1998 --------------------------------- AT&T CREDIT CORPORATION By: ---------------------------- (Lessor Authorized Signature) --------------------------------- (Type/Print Name) --------------------------------- (Title) --------------------------------- (Date) [Page] Co-Lessee: First State Bank, N.A. By: Xxxxx X. Xxxxxxxxxx /s/ Xxxxx X. Xxxxxxxxxx ---------------------------- (Co-Lessee Authorized Signature) Xxxxx X. Xxxxxxxxxx --------------------------------- (Type/Print Name) Chairman of the Board/CEO --------------------------------- (Title)
LESSEE'S CONTINUING OBLIGATIONS. In the event Lessee does not return the Aircraft to Lessor on the Expiration Date and in the condition required by this Section 6 for any reason, the obligations of Lessee under this Lease will continue. Such event shall not be considered a renewal of the terms of the Lease or of Lessee's rights to use the Aircraft, an extension of the Lease Term or a waiver of Lessee's Event of Default or any right of Lessor hereunder. Lessee shall fully indemnify Lessor, on demand, for all loss and damage (including incidental loss and damage and consequential loss and damage and fees and disbursements of legal counsel), liabilities, actions, proceedings, costs and expenses thereby suffered or incurred by Lessor. Until the Aircraft is redelivered to Lessor and put in the condition required by this Section 6, Lessee shall pay the amount of Basic Rent for each day from the scheduled Expiration Date until the date the Aircraft is returned to Lessor in the proper condition specified hereunder. Payment shall be made upon presentation of Lessor's invoice to Lessee.
