ACMI Lease definition

ACMI Lease means any arrangement whereby Lessee agrees to furnish the Aircraft to a third party pursuant to which (i) Lessee's crew at all times shall maintain full operational control of the Aircraft, (ii) the Aircraft shall be operated solely by regular employees of Lessee possessing all current appropriate IAA certificates and licenses, (iii) the insurance required under Section 11 shall remain in full force and effect, (iv) the Aircraft shall be maintained in accordance with the Maintenance Program as required by the terms of this Lease and (v) the term of any such ACMI Lease does not extend beyond the Term.
View Source

Examples of ACMI Lease in a sentence

  • This Agreement and the Aircraft ACMI Lease Agreement shall be read together and constitute one agreement with the same effect as if the amendments made by this Agreement had been contained in the Aircraft ACMI Lease Agreement as of the effective date of this Agreement.

  • The terms “hereof, “herein”, “this Agreement” and similar terms used in the Aircraft ACMI Lease Agreement, shall mean and refer to, from and after the Amendment Effective Date, the Aircraft ACMI Lease Agreement as amended by this Agreement.

  • If there is a conflict between any provision of this Agreement and any provision of the Aircraft ACMI Lease Agreement, the relevant provision of this Agreement shall prevail.

  • Upon execution of this Agreement, the Aircraft ACMI Lease Agreement shall be deemed to have been amended as of the Amendment Effective Date.

  • This Agreement further amends and supplements the Aircraft ACMI Lease Agreement.