Lessor Obligations Following Termination Date Clause Samples
The "Lessor Obligations Following Termination Date" clause defines the responsibilities that the lessor must fulfill after the lease agreement has ended. Typically, this includes actions such as returning any security deposits, settling outstanding accounts, and ensuring the property is in a condition suitable for turnover or re-leasing. By clearly outlining these post-termination duties, the clause helps prevent disputes and ensures a smooth transition at the end of the lease term.
Lessor Obligations Following Termination Date. Provided that no Default or Event of Default has occurred and is continuing, within five Business Days after (i) redelivery of the Aircraft to Lessor in accordance with and in the condition required by this Agreement, or (ii) payment to Lessor of the Agreed Value following a Total Loss after the Delivery Date, or in each case unless, within such five Business Days period, Lessor provides written notice stating that Lessee has not paid all amounts which may then be outstanding under this Agreement and the other Lessee’s Documents, Lessor will pay to Lessee (x) the amount of any Basic Rent received from Lessee in respect of any period falling after the date of redelivery of the Aircraft or payment of the Agreed Value, as the case may be, and (y) an amount equal to the cash Security paid to Lessor less the sum of amounts (if any) applied pursuant to Clause 6.2(b).
Lessor Obligations Following Termination Date. Provided that no Default or Event of Default has occurred and is continuing, within five Business Days after (i) redelivery of the Aircraft to Lessor in accordance with and in the condition required by this Agreement, or (ii) payment to or at the direction of Lessor or, as applicable, the Security Trustee, of the Agreed Value following a Total Loss after the Delivery Date, or in each case unless, within such five Business Days period, Lessor provides written notice stating that Lessee has not paid all amounts which may then be outstanding under this Agreement and the other Lessee’s Documents, Lessor will pay to Lessee (x) the amount of any Basic Rent received from Lessee in respect of any period falling after the date of redelivery of the Aircraft or payment of the Agreed Value, as the case may be, and (y) an amount equal to the cash Security paid to Lessor less the sum of amounts (if any) applied pursuant to Clause 6.2(b).
Lessor Obligations Following Termination Date. Within five Business Days after (i) redelivery of the Aircraft to Lessor in accordance with and in the condition required by this Lease, or (ii) payment to Lessor of the Stipulated Loss Value following an Event of Loss, or in each case such later time as Lessor is satisfied that Lessee has irrevocably paid all amounts which may then be outstanding or become payable under this Lease and the other Lessee Documents, Lessor will return the Security paid or delivered to Lessor less amounts applied pursuant to Section 3.6(b).
Lessor Obligations Following Termination Date. Within five (5) Business Days after (i) redelivery of the Aircraft to Lessor in accordance with and in the condition required by this Agreement, or (ii) payment to Lessor of the Agreed Value following a Total Loss and all other amount due hereunder, Lessor will pay to Lessee the amount of any Basic Rent received in respect of any period falling after the date of redelivery of the Aircraft or payment of the Agreed Value, as the case may be. CLAUSE 5 DISCLAIMERS.
Lessor Obligations Following Termination Date. Lessor shall within three (3) Business Days of the Termination Date:
(a) pay to Lessee a portion of any Rent paid to Lessor to the extent such portion is attributable to the period falling after, but excluding, the Termination Date; and
(b) pay to Lessee as an independent obligation an amount equal to the Security Deposit in accordance with Clause 6.2 (Lessor Payment) or return the Letter of Credit in accordance with Clause 6.5(j), whichever is applicable; provided that, if any Event of Default has occurred and is continuing, Lessor may hold and apply any such amounts in or toward the cure of such Event of Default and, at such time as no Event of Default is in existence, shall pay the unapplied portion thereof, if any, to Lessee.