PBH Rent definition
Examples of PBH Rent in a sentence
The PBH Rent shall be paid in arrears on or prior to the fifteenth (15th) day following the last day of the PBH Period (the “PBH Rent Payment Date”).
For the avoidance of doubt and by way of example, if Delivery occurs on 12 December 2010, the PBH Period would commence on 12 December 2010 and continue through and including 08 January 2011, and the PBH Rent Payment Date would be 23 January 2011.
The Lessee shall provide to the Lessor details of the utilisation of the Aircraft in the technical status report by no later than the tenth (10th) day of each month in accordance with Clause 9.2(a) for the purpose of verifying the PBH Rent due during the PBH Rent Period.
Following such an Event of Loss, the Term shall end on the earlier of (i) the date the Lessee or Lessor receives the Insurance Proceeds with respect to such Event of Loss and (ii) ninety (90) days after the occurrence of such Event of Loss, on which date the Lessee shall pay to the Lessor an amount equal to the Agreed Value (as defined in Schedule 3 (Certain Economic Terms) hereto) as of such date of termination and all accrued but unpaid PBH Rent and/or Base Rent to such date of termination.
So long as the PBH Invoice is issued within the time frame set forth herein, the Lessee shall pay to the Lessor the PBH Rent within ten (10) Business Days following the Invoice Date (the PBH Rent Payment Date), provided, however, in the event of any delay in the issuance of the PBH Invoice, then the PBH Rent Payment Date (and the Lessee’s obligation to pay the PBH Rent) will be extended by one day for each day of delay in the issuance of the PBH Invoice.
For the purposes of calculating the PBH Rent, any fraction of a Flight Hour shall be rounded upward to the nearest one-tenth of a Flight Hour.
On the twentieth (20th) Business Day of the month in which the technical report is issued (the Invoice Date), the Lessor shall provide the Lessee with an invoice (the PBH Invoice) setting forth the calculation and amount owed by the Lessee on account of the applicable PBH Rent Period.
For the avoidance of doubt and by way of example, if Delivery occurs on 19 November 2010, the PBH Period would commence on 19 November 2010 and continue through and including 02 December 2010, and the PBH Rent Payment Date would be 17 December 2010.
No later than twentieth (20) Business Day of the month in which the PBH Report is issued, the Lessor shall deliver to the Lessee an invoice setting forth the PBH Rent, as applicable, in respect of the previous calendar month.