Return Occasion definition
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.
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.
On the Expiration Date, or pursuant to Section 19 hereof (such date or event being hereinafter referred to as a "Return Occasion"), LESSEE, at its own expense, on or prior to the Return Occasion, shall return such Aircraft to LESSOR at the Return Location or such other location as may be mutually agreed upon by LESSOR and LESSEE, fully equipped as delivered or modified as provided hereunder with all required Engines installed thereon.
Upon or next preceding a Return Occasion with respect to the Aircraft hereunder, LESSEE shall make such Aircraft available to LESSOR not less than ten (10) days prior to the date of the Return Occasion for detailed inspection in order to verify that the condition of such Aircraft complies with the requirements set forth above (such inspection being hereinafter referred to as the "Final Inspection").