Rent definition
Examples of 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.
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.
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 ▇▇▇▇▇▇ has no interest therein whatsoever.
Notwithstanding any agreement to the contrary, ▇▇▇▇▇▇ acknowledges and agrees that Supplemental Rent payable to Lessor is additional rent for the leasing of the Aircraft and not cash collateral or other security for Lessee’s maintenance or other obligations under the Transaction Documents.