Common use of Mandatory Modifications Clause in Contracts

Mandatory Modifications. The Used Aircraft shall be in compliance with all Airworthiness Directives and all Service Bulletins mandatory issued during the Lease Term affecting the Used Aircraft and having a compliance date within the lease term. Should the Lessee be obliged to implement a mandatory modification on the Used Aircraft so as to conform with the above paragraph, then the Lessor shall make a contribution to the cost of such mandatory modification by payment to the Lessee of an amount equal to: [*****] 11 [*****] : The Lessee shall pay [*****] to the Lessor each month [*****] As a separate obligation, the Lessor shall make [*****] to the Lessee, upon submission by the Lessee to the Lessor of invoices evidencing [*****] Payments of [*****] and of [*****] shall be governed by a [*****] (with respect to each Aircraft the [*****] [*****] Confidential material redacted and filed separately with the Securities and Exchange Commission. Each [*****] shall be substantially the same (except for the specifics of each Used Aircraft such as MSN and delivery date) as the [*****] already executed by and between the Lessor and the Lessee for the [*****]

Mandatory Modifications. The Used Aircraft shall be in compliance with all Airworthiness Directives and all Service Bulletins mandatory issued during the Lease Term affecting the Used Aircraft and having a compliance date within the lease term. Should the Lessee be obliged to implement a mandatory modification on the Used Aircraft so as to conform with the above paragraph, then the Lessor shall make a contribution to the cost of such mandatory modification by payment to the Lessee of an amount equal to: [*****] [*****] [*****] [*****] [*****] [*****] [*****] [*****] 11 [*****] : The Lessee shall pay pay[*****] to the Lessor each month [*****] ]. As a separate obligation, the Lessor shall make [*****] to the Lessee, upon submission by the Lessee to the Lessor of invoices evidencing [*****] ]. Payments of [*****] and of [*****] shall be governed by a [*****] (with respect to each Aircraft the [*****] [*****] Confidential material redacted and filed separately with the Securities and Exchange Commission]. Each [*****] shall be substantially the same (except for the specifics of each Used Aircraft such as MSN and delivery date) as the [*****] already executed by and between the Lessor and the Lessee for the [*****].