Wet Leases Clause Samples

Wet Leases. A Sub-Lease which is a wet lease shall satisfy the following conditions: (a) The Aircraft shall be operated solely by cockpit personnel under the operational control the Portfolio Lessee possessing all certificates and licenses that are required by applicable law. (b) The Aircraft shall be subject to insurance coverage which complies with the requirements of this Agreement and the Portfolio Lease. (c) The Aircraft shall be maintained by the Portfolio Lessee in accordance with requirements of the Portfolio Lease. (d) The Aircraft shall not be subject to any change in the State of Registration. (e) The term of the wet lease shall not exceed the term of the Portfolio Lease. To: [ ] as Agent From: AVOLON AEROSPACE LEASING LIMITED Dated: Dear Sirs 1. We refer to the Agreement. This is a Compliance Certificate. Terms defined in the Agreement have the same meaning when used in this Compliance Certificate unless given a different meaning in this Compliance Certificate. 2. We confirm that as of [—]: 2.1 the Consolidated Tangible Net Worth of the Guarantor is $[—]; and 2.2 the Free Cash of the Guarantor is $[—]. Accordingly, we hereby represent and warrant that the Guarantor is in compliance with the Financial Covenants set out in Clause 20.22 (Financial Covenants) of the Facility Agreement. Signed: Director of [Company] To: [ ] as Agent From: AVOLON AEROSPACE LEASING LIMITED Dated: Dear Sirs 1. We refer to the Agreement. Terms defined in the Agreement have the same meaning when used in this Utilisation Certificate unless given a different meaning herein. 2. We are giving this Utilisation Certificate pursuant to Clause 4.3.4 of the Agreement, as a condition to the Utilisation attributable to [following Aircraft, being the Identified Aircraft with reference [—], as set out in Schedule 2 (The Identified Aircraft) of the Agreement.]/[the following Unidentified Aircraft: [Insert Aircraft Details] (the “Aircraft”) 3. I hereby certify that: (a) as of the date hereof, each Subordinated Contribution to be made in respect of such Aircraft which falls within part (i) of the definition thereof has been made by the relevant Subordinated Party; (b) each Subordinated Contribution to be made in respect of such Aircraft which falls within part (ii) of the definition thereof, will be made by the relevant Subordinated Party immediately after the Utilisation of the Loan attributable to the Aircraft; and (c) on the Utilisation Date for the Loan attributable to the Aircraft and having r...

Wet Leases. The wet leasing or charter of the Aircraft during the Lease Term (in which Lessee and its crews retain operational control of the Aircraft) will not be considered a sublease of the Aircraft and will be permitted without Lessor’s consent, provided that (a) the Aircraft remains registered in the State of Registration, (b) the Aircraft will neither be based in nor operated in or to a Prohibited Country, and (c) Lessee complies with Articles 9.2 and 16.9 hereunder.

Wet Leases. At Continental’s option, and provided that Contractor is not adversely affected in any material respect, Contractor shall “wet lease” one or more of the Covered Aircraft to Continental, on terms mutually acceptable to the parties hereto, which terms are identical in all material respects, economically and otherwise, to the terms of this Agreement (taking into account the inherent differences between a “wet lease” arrangement and a capacity purchase arrangement), and such “wet lease” shall supersede the capacity purchase provisions of this Agreement with respect to such Covered Aircraft. In such event, Contractor’s compensation hereunder, including without limitation in this Article II, in Article III and in Schedule 3, shall be adjusted so that Contractor’s aggregate compensation from such “wet lease” arrangements and the capacity purchase arrangements applicable to the remaining Covered Aircraft are equal to the amount of Contractor’s aggregate compensation had no such “wet lease” arrangements been entered into.

Wet Leases. Any Wet Lease or similar arrangement under which the Lessee maintains operational control of any Aircraft shall not constitute a delivery, transfer or relinquishment of possession for purposes of this Section 7.

Wet Leases. At Frontier's option, and provided that RAI is not adversely affected in any material respect, RAI shall “wet lease” one or more of the Covered Aircraft to Frontier, on terms mutually acceptable to the parties hereto, which terms are identical in all material respects, economically and otherwise, to the terms of this Agreement (taking into account the inherent differences between a “wet lease” arrangement and a capacity purchase arrangement), and such “wet lease” shall supersede the capacity purchase provisions of this Agreement with respect to such Covered Aircraft. In such event, RAI's compensation hereunder, including without limitation in this Article II, in Article III and in Exhibit D, shall be adjusted so that RAI's aggregate compensation from such “wet lease” arrangements and the capacity purchase arrangements applicable to the remaining Covered Aircraft are equal to the amount of RAI's aggregate compensation had no such “wet lease” arrangements been entered into.

Wet Leases. The wet leasing of the Aircraft during the Lease Term (whereby the Aircraft will at all times be subject to the full operational control of LESSEE) will be permitted without LESSOR's consent, provided that (a) the Aircraft remains registered in the State of Registration, (b) the Aircraft not be wet leased to a Prohibited Person or wet leased for operations to, from or within a Prohibited Country, (c) LESSEE provides LESSOR with an officer's certificate from LESSEE confirming that the wetlease agreement complies with the requirements of this Article 11.6, (d) LESSEE complies with Article 18.11 and (e) the wet lease will be for a term no greater than six months and, in any event, no greater than the remaining Lease Term.

Wet Leases. 4.03.1 Notwithstanding the above paragraphs, wet leases or charters may be entered into by the Company under the circumstances listed below: a) To carry out flying on a temporary basis due to a lack of available aircraft for reasons beyond the Company’s control (for example, weather conditions, mechanical failures, acts of God, delay of aircraft delivery, unanticipated shortage of Flight Crew Members, etc.). The Company may enter into wet leases or charters for a period of up to six (6) months provided such does not result in the layoff of seniority listed pilots. Any wet leases or charters beyond six (6) months will be by mutual agreement between the Company and the Union with such agreement not being unreasonably withheld by either party. b) In the event of new types of aircraft are procured or new business opportunities are being explored by the Company experimental or otherwise. The Company may enter into wet leases or charters for a period of up to twelve (12) months provided such does not result in the layoff of seniority listed pilots. Any wet leases or charters beyond twelve (12) months will be by mutual agreement between the Company and the Union with such agreement not being unreasonably withheld by either party. The Company shall advise the Union in writing of any wet lease as soon as practical.

Wet Leases. The wet leasing of the Aircraft during the Lease Term (in which LESSEE and its crews retain operational control of the Aircraft) will not be considered a sublease of the Aircraft and will be permitted without LESSOR's consent, provided that (a) the Aircraft remains registered in the State of Registration, (b) the Aircraft will neither be based in nor operated in or to a Prohibited Country, (c) LESSEE provides LESSOR with either (i) a certified copy of the applicable provisions from the wet lease agreement, (ii) a certified copy or original of an insurance certificate confirming the maintenance of insurance coverage as required by Article 18 and Exhibit E, or (iii) an officer's certificate indicating whether LESSEE or the wet lessee will be responsible for maintaining the primary passenger, baggage and cargo liability insurance relating to operation under the wet lease, and (d) LESSEE complies with Article 18.8.

Wet Leases. 4.03.1 Notwithstanding the above paragraphs, wet leases or charters may be entered into by the Company under the circumstances listed below: a) To carry out flying on a temporary basis due to a lack of available aircraft for reasons beyond the Company’s control (for example, mechanical failures, acts of God, delay of aircraft delivery, unanticipated shortage of Flight Crew Members, etc.). The Company may enter into wet leases or charters for a period of up to six (6) months provided such does not result in the layoff of seniority-listed pilots. Any wet leases or charters beyond six (6) months will be by mutual agreement between the Company and the Union with such agreement not being unreasonably withheld by either party. b) In the event of new types of aircraft are procured or new business opportunities are being explored by the Company experimental or otherwise. The Company may enter into wet leases or charters for a period of up to twelve