Maintenance Rent definition

Maintenance Rent means, with respect to any Pool Aircraft, maintenance reserves, maintenance rent or other supplemental rent payments based on usage in respect of such Pool Aircraft (or its engines or other parts) payable by the Lessee under the Lease for such Pool Aircraft for the purpose of paying, contributing to, reserving or calculating potential liability in respect of payments for future maintenance and repair of such Pool Aircraft, indemnity payments and any other payments other than scheduled rent payments.

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Maintenance Rent means all amounts payable by Lessee pursuant to Schedule 10, as the same may be adjusted from time to time in accordance with the terms of this Agreement.

Maintenance Rent means any lease payments (whether called maintenance reserves, additional rent, supplemental rent, utilization rent or any similar term in the applicable Lease) that are in addition to a base rent for an Aircraft (regardless of how such base rent is calculated) payable under a Lease based on usage, including hours or cycles of operation of the airframe, engines, life-limited engine parts, landing gear and/or auxiliary power unit of such Aircraft, provided that, if any Aircraft is a Non-Owned Aircraft, until the earliest to occur of (i) the date such Non-Owned Aircraft is actually acquired by a Seller, a Transferring Company, any Transferring Subsidiary or a Transferring Trust (or any of their respective Affiliates), (ii) the Closing Date for such Aircraft and (iii) the Termination Date for such Aircraft, if applicable, Maintenance Rent shall be deemed to have been paid to the relevant Seller in the amounts and on the dates set forth in the relevant Lease, without regard to whether such amounts were actually so received by or for the benefit of such Seller;

Examples of Maintenance Rent in a sentence

Under this scenario, (A) Basic Rent payable under this Agreement shall be adjusted in accordance with the Basic Rent Adjustment and (B) Lessee shall have no obligation to pay Maintenance Rent to Lessor in respect of such Substitute Major Part beginning on the date of installation of such Substitute Major Part.
Lessee shall pay the Maintenance Rent to Lessor in accordance with Schedule 10.
Once paid, all Maintenance Rent is the sole and exclusive property of Lessor, may be commingled with the general funds of Lessor and its Affiliates, is not held for or on behalf of (or refundable to) Lessee under any circumstances whatsoever and L▇▇▇▇▇ has no interest therein whatsoever.
If Lessee breaches this clause 14.4.2 then, without prejudice to its other rights and remedies under the Transaction Documents and applicable law, Lessor may increase the Maintenance Rent Rates relating to Engine Performance Restoration Shop Visit for such period that the Lessor believes such Engine was operated and is being operated at the higher thrust rating by giving written notice to Lessee of such increased rates.
L▇▇▇▇▇ acknowledges and agrees that L▇▇▇▇▇ shall have no right to the payment or return of any Maintenance Rent, and L▇▇▇▇▇ hereby waives and relinquishes all rights in the Maintenance Rent in favor of L▇▇▇▇▇.
Without limiting the generality of the foregoing, under no circumstances will Lessor be required to make contributions or payments to Lessee in respect of Qualifying Maintenance Events measured with reference to Maintenance Rent or, except in respect of the Post-Delivery Maintenance and the painting of the Aircraft as provided in clause 5.1.4, any other maintenance performed on the Aircraft.
If Lessee adopts a materially revised Maintenance Program Lessor, in its reasonable discretion may make and notify Lessee of such adjustments to the Maintenance Rent balance and Maintenance Rent Rates as Lessor determines in its reasonable discretion as necessary to maintain the Maintenance Rent balance and Maintenance Rent Rates at levels which accurately reflect the costs associated with obtaining relevant maintenance services at prevailing industry rates.
Landing Gear Overhaul US$4,500 per calendar month* APU Performance Restoration US$45 per APU Hour * Maintenance Rent Rates which are charged based on a fixed amount per calendar month shall be pro-rated for any part of a calendar month (for example, the first and last month of the Lease Term) based on the actual number of days in such calendar month and a 30 day month.

More Definitions of Maintenance Rent

Maintenance Rent means, with respect to the Lease relating to a Remaining Aircraft, amounts paid by the Lessee thereunder pursuant to the terms thereof, whether as supplemental rent or otherwise, for the purpose of performing maintenance on such Remaining Aircraft;

Maintenance Rent means all amounts payable pursuant to Section 6.3.

Maintenance Rent means all amounts payable pursuant to Section 6.3. “Maintenance Rent Period” means each calendar month during the Term.

Maintenance Rent means, with respect to any Pool Aircraft, any payments based on usage in respect of such Pool Aircraft (or its engines or other parts) payable by the Lessee