Return Occasion definition

Return Occasion means the event that occurs when possession of the Aircraft is to be returned from Lessee to Lessor at the end of the Term of this Lease or upon Lessor taking possession pursuant to Section 18 or for any other reason.
View Source
Return Occasion means the date on which the Aircraft is redelivered to Lessor in accordance with Section 12.
View Source
Return Occasion means the event that occurs when possession of the Engine is to be returned from Lessee to Lessor at the end of the Term of this Lease or upon Lessor taking possession pursuant to Section 18 or for any other reason.
View Source

Examples of Return Occasion in a sentence

  • Upon any Return Occasion, Lessee shall, at Lessor's request and at Lessee's risk and expense, in addition to other storage referred to above, arrange for the parking, storage and insurance of the Aircraft for a period not exceeding sixty (60) days at such reasonable location as Lessor requests where Lessee has or can arrange for storage.

  • Lessee shall cause such borescope inspections to be performed and to be recorded on videotape by an agency selected by Lessor and shall provide Lessor with a copy of such videotape on the Return Occasion.

  • Upon any Return Occasion, Lessee shall return such Aircraft to Lessor in such condition that the Aircraft shall also comply with each and every condition and requirement set forth elsewhere in this Lease, including Exhibit E hereto.

  • Airworthiness Directives Airworthiness Directives mandated during the Term and which require to be fulfilled before the expiry of the AD Compliance Period shall be accomplished before the Return Occasion.

  • On the Return Occasion the Aircraft, subject to ordinary wear and tear of a kind and to an extent consistent with similar aircraft engaged in commercial airline operations, will be redelivered to Lessor by Lessee in accordance with the procedures and in any event in the condition set out below.

  • Lessee shall pay (a) Supplemental Rent to Lessor on each applicable date during the Term in accordance with Section 5.4 of the Common Terms Agreement and in the amounts provided in Schedule B hereto; and (b) the Maintenance Adjustments to Lessor on the Return Occasion in the amounts provided in Schedule B hereto and as provided in Section 5.4 of the Common Terms Agreement.

  • Lessee's obligation to comply with the terms of this Section 16(c) shall be conditioned on Lessor's transferring to Lessee all of Lessor's right, title and interest in and to any Engine not installed on the Aircraft at the Return Occasion "AS IS, WHERE IS," without any representation, warranty or recourse of any kind whatsoever, express or implied, except a warranty that such Engine is free and clear of Lessor's Liens.

  • Upon any Return Occasion, Lessee shall return such Engine to Lessor in such condition that the Engine shall also comply with each and every condition and requirement set forth elsewhere in this Lease, including Exhibit E hereto.

  • In addition to the foregoing, but subject to Sections A(ix) and (xi) of Exhibit "H", and under the same payment terms, LESSEE, with regard to any time-limited component installed on such Aircraft which does not satisfy the return condition requirements of this Section 17 and Exhibit "H" upon a Return Occasion, shall pay LESSOR, at the time of a Return Occasion, an amount equal to the amount which would be required to be paid to the Person selected by LESSOR for putting such item in such condition.

  • Immediately prior to the Return Occasion, Lessee will make the Aircraft available to Lessor and Owner for inspection ("FINAL INSPECTION") in order to verify that the condition of the Aircraft complies with the Lease.


More Definitions of Return Occasion

Return Occasion shall have the meaning set forth in Section 17(A) hereof.
View Source
Return Occasion means the event that occurs when possession of the Aircraft is returned from Lessee to Lessor at the end of the Term or upon Lessor's taking possession of the Aircraft pursuant to Article XVIII. "SECTION 1110" means 11 U.S.C.ss.1110 of the Bankruptcy Code. "SECTION 1110 PERSON" is a Citizen of the United States and is an "air carrier" within the meaning of the Federal Aviation Act holding an "air carrier operating certificate" issued under Chapter 447 (or any successor provision) of the Federal Aviation Act for aircraft capable of carrying 10 or more individuals or 6,000 or more pounds of cargo, with such certificate in full force and effect.
View Source
Return Occasion means the date on which the Aircraft is redelivered to Lessor in accordance with Clause 12.
View Source
Return Occasion means the date on which the Engine is redelivered to Lessor in accordance with Section 12 (Return of Engines). SB means service bulletin.
View Source

Related to Return Occasion

  • Return on Assets means the percentage equal to the Company’s or a business unit’s Operating Income before incentive compensation, divided by average net Company or business unit, as applicable, assets, determined in accordance with generally accepted accounting principles.

  • Return on Equity means the percentage equal to the Company’s Net Income divided by average stockholder’s equity, determined in accordance with generally accepted accounting principles.

  • Return on Invested Capital for a period shall mean earnings before interest, taxes, depreciation and amortization divided by the difference of total assets less non-interest bearing current liabilities.

  • Adjusted Operating Income for each year in the Performance Period is defined as the Company’s net income from continuing operations as reported in the Company’s financial statements (including accompanying footnotes and management’s discussion and analysis), adjusted as set forth in the immediately following sentence. In calculating Adjusted Operating Income, net income from continuing operations shall be adjusted as follows: first (A) remove the after-tax effects of the following items: (i) losses (net of reinsurance) from catastrophes (as designated by the Insurance Service Office’s Property Claims Service Group, the Lloyd’s Claim Office, Swiss Reinsurance Company’s sigma report, or a comparable report or organization generally recognized by the insurance industry, and reported by the Company as a catastrophe); asbestos and environmental reserve charges (or releases); net realized investment gains or losses in the fixed maturities and real estate portfolios; and (ii) extraordinary items, the cumulative effect of accounting changes and federal income tax rate changes, and restructuring charges, each as defined by generally accepted accounting principles in the United States, and each as reported in the Company’s financial statements (including accompanying footnotes and management’s discussion and analysis); (B) reduced, as to the first year in the Performance Period (20XX), by $XXXXXX, as to the second year in the Performance Period (20XX), by $XXXXXX times the ratio of: the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium divided by the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium, and as to the third year in the Performance Period (20XX), by $XXXXXX times the ratio of: the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium divided by the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium; and (C) reduced by an amount intended, as of the date of this award, to approximate historical levels of credit losses (on an after-tax basis) associated with the Company’s fixed income investments, determined by (i) multiplying a fixed factor, expressed as 2.25 basis points, by the amortized cost of the Company’s fixed maturity investment portfolio at the beginning of each quarter during the relevant year in the Performance Period and (ii) adding the after-tax sum of the amounts resulting from (i) for such year in the Performance Period.

  • Return on Sales means the percentage equal to the Company’s or a business unit’s Operating Income before incentive compensation, divided by the Company’s or the business unit’s, as applicable, revenue, determined in accordance with generally accepted accounting principles.