Loss Destruction Requisition Etc. (a) Event of Loss with Respect to the Aircraft. Upon the occurrence of an Event of Loss with respect to the Airframe or the Airframe and the Engines and/or engines then installed thereon, Lessee shall forthwith (and in any event, within fifteen (15) days after such occurrence) give Lessor written notice of such Event of Loss, and within forty-five (45) days after such Event of Loss Lessee shall give Lessor written notice of its election to perform one of the following options (it being agreed that if Lessee shall not have given such notice of election within such period, Lessee shall be deemed to have elected the option set forth in clause (i) below). Lessee may elect either to:
Loss Destruction Requisition Etc. (a) Event of Loss with Respect to the Aircraft. Upon the occurrence of an Event of Loss with respect to the Airframe or the Airframe and the Engines and/or engines then installed thereon, the Owner shall forthwith (and in any event, within fifteen (15) days after such occurrence) give the Indenture Trustee written notice of such Event of Loss, and within forty-five (45) days after such Event of Loss the Owner shall give the Indenture Trustee written notice of its election to perform one of the following options (it being agreed that if the Owner shall not have given such notice of election within such period, the Owner shall be deemed to have elected the option set forth in clause (i) below). The Owner may elect either to:
Loss Destruction Requisition Etc. (a) Event of Loss with Respect to the Aircraft. Upon the ------------------------------------------ occurrence of an Event of Loss with respect to the Airframe or the Airframe and the Engines or engines then installed thereon, Lessee shall (1) forthwith (and in any event, within three (3) days after such occurrence) give Lessor written notice of such Event of Loss and (2) to the extent not previously paid to Lessor as insurance proceeds, pay or cause to be paid in the manner specified in Section 3(d) hereof to Lessor (the date required for such payment being herein referred to as the "Loss Payment Date") within the earlier of (x) 45 days after such occurrence and (y) three (3) days of the receipt of insurance proceeds, the sum of (A) the Stipulated Loss Value with respect to the Aircraft, plus (B) all Rent then due and unpaid hereunder. At such time as Lessor shall have actually received the sum of the amounts specified in clauses (A) and (B) above, (I) the obligation of Lessee to pay Basic Rent hereunder with respect to the Aircraft and the Aircraft Documents with respect thereto shall cease to accrue, (II) the Lease shall terminate, (III) Lessor will transfer to or at the direction of Lessee, without recourse or warranty (except as to the absence of Lessor Liens), all of Lessor's right, title and interest in and to the Airframe, the Aircraft Documents with respect thereto and, if an Aircraft has suffered such Event of Loss, the Engines of such Aircraft "as-is, where-is" and furnish to or at the direction and cost of Lessee a xxxx of sale in form and substance reasonably satisfactory to Lessee, evidencing such transfer, and (IV) Lessee will be subrogated to all claims of Lessor, if any, against third parties (other than in respect of any insurance policy independently maintained by the Lessor pursuant to Section 11 hereof) to the extent the same relate to physical damage to or loss of the Airframe and any Engines which were subject to such Event of Loss.
Loss Destruction Requisition Etc. (a) Lessee hereby assumes the risk of direct and consequential loss and damage to the Cars. Except as otherwise provided herein, no loss or damage to the Cars or any part thereof shall release or impair any obligations of Lessee under this Lease. Lessee agrees that Lessor shall not incur any liability to Lessee for any loss of business, loss of profits, expenses, or any other damages resulting to Lessee by reason of any failure of or delay in delivery or any delay caused by any non-performance, defective performance, or breakdown of the Cars, nor shall Lessor at any time be responsible for personal injury or the loss or destruction of any other property resulting from the Cars. In the event of loss or damage to any Car which does not constitute an Event of Loss (as hereinafter defined), Lessee shall, at its sole cost and expense, promptly repair and restore such Car to the condition required by this Lease. Provided that Lessee is not then in Default, upon receipt of evidence reasonably satisfactory to Lessor of completion of such repairs, Lessor will apply any insurance proceeds received by Lessor on account of such loss to the cost of repairs.
Loss Destruction Requisition Etc. (a) Event of Loss with Respect to the Aircraft. Upon the occurrence ------------------------------------------ of an Event of Loss with respect to the Airframe or the Airframe and the Engines and/or engines then installed thereon, Lessee shall (1) forthwith (and in any event, within fifteen days after such occurrence) give Lessor written notice of such Event of Loss and (2) within 45 days after such occurrence, give Lessor written notice of its election to perform one of the following options (it [First Amended and Restated Lease Agreement (1989 I)] being understood that the failure to give such notice shall be deemed to be an election of the option set forth in subsection (i) below). Not later than the earlier to occur of (x) the Business Day next succeeding the 120th day following the occurrence of such Event of Loss and (y) the third Business Day after receipt of insurance proceeds, Lessee shall:
Loss Destruction Requisition Etc. During the Lease Term except as otherwise expressly provided herein, Lessee shall bear the entire risk of loss of or damage to the Aircraft. Accordingly:
Loss Destruction Requisition Etc. During the Sublease Term except as otherwise expressly provided herein, Sublessee shall bear the entire risk of loss of or damage to the Aircraft. Accordingly:
Loss Destruction Requisition Etc. 24 12.01 Event of Loss with Respect to the Aircraft................. 24 12.01(A) Replacement of Airframe and Engines........................ 24 12.01(B) Payment of Stipulated Loss Value and Rent.................. 25 12.01(C)............................................................ 25 12.01(D) Payment of Basic Rent Pending Replacement.................. 25 12.01(E) Conditions to Replacement of Aircraft...................... 26 12.01(F) Recordation and Opinions................................... 27 12.01(G) Conveyance................................................. 27 12.02 Event of Loss with Respect to an Engine....................... 27 12.02(A) Event of Loss.............................................. 27 12.02(B) Conditions; Lessee's Obligations........................... 27 12.02(C) Recordation and Opinions................................... 28 12.02(D) Conveyance; Replacement Engine............................. 28 12.02 (E) No Reduction of Basic Rent............................... 28 12.03 Application of Payments from Governmental Authorities for Requisition of Title...................................... 28 12.03 (A) Replacement of Airframe and Engines...................... 29 12.03 (B) Replacement of Engine.................................... 29 12.03 (C) Nonreplacement........................................... 29 12.04 Requisition for Use by the United States Government of the Airframe and the Engines Installed Thereon.............. 29 12.05 Requisition for Use by Government of an Engine.............. 30 12.06 Application of Payments During Existence of Event of Default..................................................... 30 13. Insurance .......................................................... 30 13.01
Loss Destruction Requisition Etc. 12.01 (A).
Loss Destruction Requisition Etc. Section 10(a) of Part II of the STM, as incorporated by reference into Section 10 of the Lease, is amended to delete from clause (i) of the second sentence the following: “all Basic Rent due before the date of such payment if on such Determination Date Basic Rent is paid in advance or all Basic Rent due on such Determination Date if on such Determination Date Basic Rent is paid in arrears and”.
