Common use of Loss Destruction Requisition Etc Clause in Contracts

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, Sublessee shall forthwith (and in any event, within five (5) days after such occurrence) give Sublessor and Head Lessor written notice of such Event of Loss. Not later than the earlier of (x) the Business Day next succeeding the 90th day following the occurrence of such Event of Loss or (y) an earlier Business Day irrevocably specified fifteen (15) days in advance by notice from Sublessee to Sublessor (the “Loss Payment Date”), Sublessee shall pay or cause to be paid to Sublessor (or its designee) in funds of the type specified in Section 3(d) hereof, an amount equal to the Stipulated Loss Value corresponding to the Stipulated Loss Value Date occurring on or immediately following the Loss Payment Date; provided, however, that if a Sublease Period Date shall occur on or prior to the Loss Payment Date with respect to which Stipulated Loss Value is determined, Sublessee shall pay on such Sublease Period Date an amount equal to the Basic Rent that would have been due on or prior to such Sublease Period Date if such Event of Loss had not occurred. At such time as Sublessor shall have received the amounts specified in the preceding sentence, together with all other amounts that then may be due hereunder (including, without limitation, all Basic Rent due before the Stipulated Loss Value Date by reference to which the Stipulated Loss Value is calculated for the Loss Payment Date and all Supplemental Rent then due) (1) the obligation of Sublessee to pay the installments of Basic Rent, Supplemental Rent, Stipulated Loss Value or any other amount shall cease to accrue (but without affecting the provisions of Section 29(b) or 29(c) hereof), (2) except for the provisions of Sections 29(b) and 29(c) of this Sublease (which shall survive), this Sublease shall terminate, (3) Sublessor will transfer, and exercise such rights as it may have to cause Head Lessor to transfer, to or at the direction of Sublessee, without recourse or warranty (except, with respect to Head Lessor, as to the absence of Head Lessor Liens, including for this purpose Liens which would be Head Lessor Liens but for the proviso in the definition of Head Lessor Liens, and, with respect to Sublessor, as to the absence of Sublessor Liens, including for this purpose Liens which would be Sublessor Liens but for the proviso in the definition of Sublessor Liens), all of Head Lessor’s and Sublessor’s, as the case may be, right, title and interest in and to the Airframe and any Engines subject to such Event of Loss, as well as any Engines not subject to such Event of Loss, and will exercise such rights as it may have to cause the Owner to furnish to or at the direction of Sublessee a xxxx of sale in form and substance reasonably satisfactory to Sublessee, evidencing such transfer, and (4) Sublessee will be subrogated to all claims of Sublessor and Head Lessor, if any, against third parties, for damage to or loss of the Airframe and any Engines which were subject to such Event of Loss to the extent of the then insured value of the Aircraft. If at any time Sublessor shall be permitted to substitute an airframe for the Airframe pursuant to Section 10 of the Head Lease, Sublessor shall have the right, in its sole discretion, to substitute an airframe for the Airframe under this Sublease.

Loss Destruction Requisition Etc. (a) Event of Loss with Respect to the AircraftEquipment. Upon the ------------------------------------------- occurrence of an Event of Loss with respect to the Airframe or the Airframe and the Engines and/or engines then installed thereonany Item of Equipment, Sublessee Lessee shall forthwith (and and, in any event, within five (5) 30 days after such occurrence) give Sublessor and Head Lessor written notice of such Event of Loss. Not later than , and, upon the earlier of (x) the Business Day Payment Date next succeeding the 90th day following the occurrence of such Event of Loss or (y) an earlier Business Day irrevocably specified fifteen (15) unless such Payment Date shall be within 30 days after such occurrence, in advance by notice from Sublessee to Sublessor (which case upon the “Loss Payment Date next succeeding the next Payment Date”), Sublessee shall Lessee shall, at Lessee's option, either (i) pay or cause to be paid to Sublessor (or its designee) Lessor, in funds of the type specified in Section 3(d) hereof3(b)hereof, an amount equal to the Stipulated Loss Value corresponding for such Item of Equipment as of such Payment Date or (ii) convey to Lessor (or cause to be conveyed to Lessor), as replacement for such Item of Equipment, title to replacement equipment, such replacement equipment to be free and clear of all Liens (other than Liens referred to in its clauses (i) through (vi) of Section 8), to have a value and utility at least equal to, and to be in as good operating condition as, such Item of Equipment immediately prior to such Event of Loss, assuming compliance by Lessee with the terms of this Lease with respect to such Item of Equipment. Upon payments of the Stipulated Loss Value Date occurring on or immediately following for any Item of Equipment in compliance with the Loss Payment Date; providedforegoing terms of this subsection (a), however, that if a Sublease Period Date shall occur on or prior to the Loss Payment Date with respect to which Stipulated Loss Value is determined, Sublessee shall pay on such Sublease Period Date an amount equal to the Basic Rent that would have been due on or prior to such Sublease Period Date if such Event of Loss had not occurred. At such time as Sublessor shall have received the amounts specified in the preceding sentence, together with all other amounts that then may be due hereunder (including, without limitation, all Basic Rent due before the Stipulated Loss Value Date by reference to which the Stipulated Loss Value is calculated for the Loss Payment Date and all Supplemental Rent then due) (1x) the obligation of Sublessee Lessee to pay the installments Basic Rent in respect of such Item of Equipment, which Basic RentRent was required by this Lease to be paid on or after such Payment Date, Supplemental Rent, Stipulated Loss Value or any other amount shall cease to accrue (but without affecting the provisions of Section 29(b) or 29(c) hereof)cease, (2y) except the Term for the provisions such Item of Sections 29(b) and 29(c) Equipment shall end effective as to such Item of this Sublease (which shall survive), this Sublease shall terminate, (3) Sublessor will transferEquipment as of such Payment Date, and exercise such rights as it may have (z) Lessor will offer to cause Head Lessor to transfer, to or at the direction of SublesseeLessee, without recourse or warranty (except, with respect to Head Lessor, except as to the absence of Head Lessor Liens, including for this purpose Liens which would be Head Lessor Liens but for the proviso in the definition of Head Lessor Liens, and, with respect to Sublessor, as to the absence of Sublessor Liens, including for this purpose Liens which would be Sublessor Liens but for the proviso in the definition of Sublessor Liens), all of Head Lessor’s and Sublessor’s, as the case may be, right's rights, title and interest in and to such Item of Equipment. Upon conveyance to Lessor of title to replacement equipment in compliance with the Airframe foregoing terms of this subsection (a), such replacement equipment shall become Equipment for all purposes of this Lease and any Engines the Lease Supplement relevant to the Item of Equipment being replaced and the other Transaction Documents and shall be subject to such Event of Loss, as well as any Engines not subject to such Event of Loss, the terms hereof and will exercise such rights as it may have to cause the Owner to furnish to or at the direction of Sublessee a xxxx of sale in form and substance reasonably satisfactory to Sublessee, evidencing such transfer, and (4) Sublessee will be subrogated to all claims of Sublessor and Head Lessor, if any, against third parties, for damage to or loss of the Airframe and any Engines which were subject to such Event of Loss to the extent of the then insured value of the Aircraft. If at any time Sublessor shall be permitted to substitute an airframe for the Airframe pursuant to Section 10 of the Head Lease, Sublessor shall have the right, in its sole discretion, to substitute an airframe for the Airframe under this Subleasethereof.

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 or engines then installed thereon, Sublessee Lessee shall (1) forthwith (and in any event, within five three (53) days after such occurrence) give Sublessor and Head Lessor written notice of such Event of Loss. Not later than 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) the Business Day next succeeding the 90th day following the 45 days after such occurrence of such Event of Loss or and (y) an earlier Business Day irrevocably specified fifteen three (153) days in advance by notice from Sublessee to Sublessor (the “Loss Payment Date”), Sublessee shall pay or cause to be paid to Sublessor (or its designee) in funds of the type specified in Section 3(dreceipt of insurance proceeds, the sum of (A) hereof, an amount equal to the Stipulated Loss Value corresponding to the Stipulated Loss Value Date occurring on or immediately following the Loss Payment Date; provided, however, that if a Sublease Period Date shall occur on or prior to the Loss Payment Date with respect to which Stipulated Loss Value is determinedthe Aircraft, Sublessee shall pay on such Sublease Period Date an amount equal to the Basic plus (B) all Rent that would have been then due on or prior to such Sublease Period Date if such Event of Loss had not occurredand unpaid hereunder. At such time as Sublessor Lessor shall have actually received the sum of the amounts specified in the preceding sentenceclauses (A) and (B) above, together with all other amounts that then may be due hereunder (including, without limitation, all Basic Rent due before the Stipulated Loss Value Date by reference to which the Stipulated Loss Value is calculated for the Loss Payment Date and all Supplemental Rent then due) (1I) the obligation of Sublessee Lessee to pay Basic Rent hereunder with respect to the installments of Basic Rent, Supplemental Rent, Stipulated Loss Value or any other amount Aircraft and the Aircraft Documents with respect thereto shall cease to accrue (but without affecting the provisions of Section 29(b) or 29(c) hereof)accrue, (2II) except for the provisions of Sections 29(b) and 29(c) of this Sublease (which shall survive), this Sublease Lease shall terminate, (3III) Sublessor Lessor will transfer, and exercise such rights as it may have to cause Head Lessor to transfer, transfer to or at the direction of SublesseeLessee, without recourse or warranty (except, with respect to Head Lessor, except as to the absence of Head Lessor Liens, including for this purpose Liens which would be Head Lessor Liens but for the proviso in the definition of Head Lessor Liens, and, with respect to Sublessor, as to the absence of Sublessor Liens, including for this purpose Liens which would be Sublessor Liens but for the proviso in the definition of Sublessor Liens), all of Head Lessor’s and Sublessor’s, as the case may be, 's right, title and interest in and to the Airframe and any Engines subject to Airframe, the Aircraft Documents with respect thereto and, if an Aircraft has suffered such Event of Loss, as well as any the Engines not subject to of such Event of LossAircraft "as-is, where-is" and will exercise such rights as it may have to cause the Owner to furnish to or at the direction and cost of Sublessee Lessee a xxxx of sale in form and substance reasonably satisfactory to SublesseeLessee, evidencing such transfer, and (4IV) Sublessee Lessee will be subrogated to all claims of Sublessor and Head Lessor, if any, against third parties, for 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 to the extent of the then insured value of the Aircraft. If at any time Sublessor shall be permitted to substitute an airframe for the Airframe pursuant to Section 10 of the Head Lease, Sublessor shall have the right, in its sole discretion, to substitute an airframe for the Airframe under this SubleaseLoss.

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 any Aircraft or the Airframe and the Engines and/or engines then installed thereonAirframe, Sublessee Lessee shall forthwith (and and, in any event, within five (5) 15 days after such occurrence) give Sublessor and Head Lessor written notice of such Event of Loss. Not later than , and, on the earlier of (x) the third Business Day next succeeding following receipt of casualty insurance proceeds with respect thereto, but in no event more than 90 days following the 90th day following date of the occurrence of such Event of Loss or (y) an earlier Business Day irrevocably specified fifteen (15) days in advance by notice from Sublessee to Sublessor (the “Loss Payment Date”)Loss, Sublessee Lessee shall pay or cause to be paid Lessor, in addition to Sublessor (or its designee) any installment of Basic Rent then otherwise due and payable, in funds of the type specified in Section 3(d3(c) hereof, an amount equal to the Stipulated Event of Loss Termination Value corresponding to for such Aircraft, together with any costs and expenses incurred by the Stipulated Loss Value Date occurring on or immediately following Loan Participant incurred by unwinding and breaking fixed funds loaned in connection with financing such Aircraft. In the Loss Payment Date; provided, however, that if a Sublease Period Date shall occur on or prior to the Loss Payment Date with respect to which Stipulated Loss Value is determined, Sublessee shall pay on such Sublease Period Date an amount equal to the Basic Rent that would have been due on or prior to such Sublease Period Date if event of payment in full of such Event of Loss had not occurred. At Termination Value and such time as Sublessor shall have received the amounts specified in the preceding sentencecosts and expenses, together with all other amounts that then may be due hereunder (including, without limitation, all Basic Rent due before the Stipulated Loss Value Date by reference to which the Stipulated Loss Value is calculated for the Loss Payment Date and all Supplemental Rent then due) (1) the obligation of Sublessee Lessee to pay the installments Basic Rent with respect to such Aircraft for any Lease Period commencing after that in which such Event of Loss occurs shall terminate; provided that Lessee shall remain liable for all payments of Basic Rent, Supplemental Rent, Stipulated Loss Value or any other amount shall cease to accrue (but without affecting Rent due and payable before the provisions date of Section 29(b) or 29(c) hereof)such payment of Termination Value, (2) except for the provisions of Sections 29(b) Term shall end with respect to such Aircraft and 29(c) of this Sublease (which shall survive), this Sublease shall terminate, (3) Sublessor upon payment of all Rent then due hereunder, Lessor will transfer, and exercise such rights as it may have transfer to cause Head Lessor to transfer, to or at the direction of SublesseeLessee, without recourse or warranty (except, with respect to Head Lessor, except as to the absence of Head Lessor Liens and Unmatured Lessor Liens, including for this purpose Liens which would be Head Lessor Liens but for the proviso in the definition of Head Lessor Liens, and, with respect each case attributable to Sublessor, as to the absence of Sublessor Liens, including for this purpose Liens which would be Sublessor Liens but for the proviso in the definition of Sublessor Liensit), all of Head Lessor’s and Sublessor’s, as the case may be, 's right, title and interest interest, of any, in and to the such Airframe and any Engines subject related to such Airframe. Such transfer to Lessee will not affect or limit in any way any obligations of Lessee hereunder not specifically discharged by such payment of Event of LossLoss Termination Value and Rent including, as well as any Engines but not subject limited to, payments of Supplemental Rent. Without limitation to the foregoing, upon the occurrence of an Event of Loss with respect to an Aircraft in which event the entire insurance proceeds are applied in reduction of the Note outstanding related to such Event of LossAircraft, and will exercise such rights as it may have to cause the Owner to furnish to or at the direction of Sublessee a xxxx of sale in form and substance reasonably satisfactory to Sublessee, evidencing such transfer, and (4) Sublessee will be subrogated to all claims of Sublessor and Head Lessorexcess insurance proceeds, if any, against third parties, for damage to or loss shall be applied in reduction of any other principal amounts of the Airframe and any Engines which were subject to such Event of Loss to the extent of the then insured value of the Aircraft. If at any time Sublessor shall be permitted to substitute an airframe for the Airframe pursuant to Section 10 of the Head Lease, Sublessor shall have the right, in its sole discretion, to substitute an airframe for the Airframe under this SubleaseNote.