Common use of STORAGE OF AIRCRAFT Clause in Contracts

STORAGE OF AIRCRAFT. Upon the expiration or termination of this Lease, provided that the final maintenance check prior to return is accomplished at LESSEE's Honolulu maintenance base or the return location is Honolulu, LESSEE shall provide storage facilities for the Aircraft at a location where LESSEE has storage facilities for a period not to exceed sixty (60) days (the "Storage Period"). During the Storage Period, LESSOR shall bear the risk of loss of the Aircraft and shall pay maintenance, insurance and other costs (except for the cost of the storage facilities provided by LESSEE) with respect to the Aircraft. Upon the expiration of the Storage Period, LESSEE shall cooperate with LESSOR by flying the Aircraft to the Return Location.

Appears in 4 contracts

Samples: Aircraft Lease Agreement (Turn Works Acquisition Iii Sub a Inc), Aircraft Lease Agreement (Turn Works Acquisition Iii Sub a Inc), Aircraft Lease Agreement (Turn Works Acquisition Iii Sub a Inc)

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