Maintenance Reserves definition

Maintenance Reserves means maintenance reserves or other supplemental rent payments based on usage of the Aircraft payable by the lessee under any Lease for purposes of reserving for the payments with respect to the future maintenance and repair of the related Aircraft.

Maintenance Reserves means rent (whether called maintenance reserves, additional rent, supplemental rent, utilization rent or any similar term) that is in addition to a base rent for the Aircraft (regardless of how such base rent is calculated) payable under a Lease based on hours or cycles of operation of the airframe, engines, life-limited engine parts, landing gear and/or auxiliary power unit of an Aircraft, with respect to maintenance of which the lessor under the Lease customarily has a maintenance contribution obligation measured in part by or with reference to such Maintenance Reserves.

Maintenance Reserves has the meaning given to it in the Lease;

Examples of Maintenance Reserves in a sentence

• Notwithstanding such stated intent, if and to the extent that the Maintenance Reserves or any part thereof, under any applicable Law or otherwise, are determined to be security deposits or otherwise the property of Lessee or if it is so determined those monies are a debt owed to Lessee or that Lessee shall have any interest in those monies, Lessee and Lessor agree that subclauses (i) and (ii) below shall apply.

• If Lessee’s actual utilisation of the Aircraft is greater than Lessee’s utilisation of the Aircraft reported to Lessor in accordance with Article 16, Lessee shall make up any deficiency payments in respect of Maintenance Reserves to Lessor within three (3) Business Days of the date of receipt of written notice from Lessor.

• At the time of the Closing, and in addition to the payment of the Purchase Price, Purchaser shall pay or cause to be paid to Sellers an amount in cash equal to the aggregate amount of the Maintenance Reserves as of the Closing Date.

• Realized investment gains and losses were reduced by amounts transferred to Interest Maintenance Reserves (“IMR”) and are reflected as an element of net income, net tax.

• Upon payment of such amount to Sellers, (i) ownership of the Maintenance Reserves shall automatically transfer from Sellers to Purchaser or its designee, in each case free and clear of Encumbrances other than Permitted Encumbrances, and (ii) Purchaser shall assume all of Sellers’ obligations under the LILO Contracts to maintain the Maintenance Reserves as provided herein and therein.

More Definitions of Maintenance Reserves

Maintenance Reserves means, collectively, as of any given time, the then current balance of payments received from Lessee and held by Lessor, net of disbursements, made pursuant to the terms of Appendix 2C to the 6 Year HMV Check Airframe Reserve, 12 Year HMV Check Airframe Reserve, Engine Restoration Reserves, Engine Life Limited Parts Reserves, Landing Gear Overhaul Reserve and APU Overhaul Reserve.

Maintenance Reserves has the meaning assigned to such term in the Asset Purchase Agreement.

Maintenance Reserves means the maintenance reserves under each of the Leases.

Maintenance Reserves means, in respect of any LILO Contract, any security deposit or other payment made by Sellers or any of their Affiliates as collateral or security, or any cash deposits or cash reserves paid by Sellers or any of their Affiliates for repair and maintenance of the LILO Cars, in each case to the extent existing immediately prior to the Closing Date in respect of such LILO Contract and listed on Schedule 1.4 hereto.

Maintenance Reserves means all amounts payable pursuant to Clause 9; Manufacturer means the Boeing Company, a Delaware Corporation with its principal office in the City of Seattle, State of Washington, United States of America; Minimum Liability Coverage has the meaning ascribed to it in Schedule 2;

Maintenance Reserves means the aggregate of

Maintenance Reserves has the meaning given to it in Part 2 of Appendix 5.