Examples of Uncovered Aircraft in a sentence
Upon Contractor retaining a previously Covered Aircraft as an Uncovered Aircraft pursuant to this Section 2.02, effective on the first day of the month during which such aircraft becomes an Uncovered Aircraft, the Covered Aircraft Sublease shall be terminated and replaced with an Uncovered Aircraft Sublease, and Contractor may fly the aircraft as permitted by Article VI.
If Continental owns any Covered Aircraft or Uncovered Aircraft as of the date hereof, then each reference in this document to a Covered Aircraft Sublease or Uncovered Aircraft Sublease shall be deemed to be a reference to a lease containing substantially the same terms and conditions as the corresponding sublease.
If Contractor shall not obtain such financing on terms reasonably satisfactory to it prior to the expiration of such right, then Continental shall not be entitled to use such Embraer aircraft as a Replacement Aircraft for an Uncovered Aircraft.
If Continental purchases or otherwise acquires title to any Covered Aircraft or Uncovered Aircraft, then Contractor shall cooperate reasonably with Continental to give effect to such purchase or acquisition, including by amending or otherwise re-executing each applicable Covered Aircraft Sublease and Uncovered Aircraft Sublease as a lease, in each case containing substantially the same terms and conditions as the corresponding sublease.
Continental shall cease all use of the Contractor Marks in all respects upon the last Covered Aircraft becoming an Uncovered Aircraft.
Contractor may elect, in lieu of making the payment contemplated by clause (iv) above, to pay such amount plus accrued interest, which interest shall accrue monthly at the interest rate used in the Uncovered Aircraft Sublease for such aircraft to determine the lease payments thereunder, in equal monthly installments over the remaining term of the Uncovered Aircraft Sublease with respect to such aircraft.
If Continental makes an Immediate Withdrawal Election, Continental shall provide to Contractor within five Business Days after the Termination Date a Wind-Down Schedule that provides for the return to Continental (and for the termination of the related Uncovered Aircraft Sublease) of any of such aircraft that Continental elects to retain, delineating the date of the return of such aircraft.
Contractor may elect, in lieu of making the payment contemplated by the preceding sentence to pay such amount plus accrued interest, which interest shall accrue monthly at the interest rate used in the Uncovered Aircraft Sublease for such aircraft to determine the lease payments thereunder, in equal monthly installments over the remaining term of the Uncovered Aircraft Sublease with respect to such aircraft.
Continental shall be entitled at any time and from time to time to terminate the Uncovered Aircraft Sublease relating to an Uncovered Aircraft, and take possession of such Uncovered Aircraft, in a transaction providing for the delivery to Contractor of a Replacement Aircraft.
If Contractor is flying any Uncovered Aircraft, then for so long as either (i) the number of Scheduled Flights in a calendar month represent at least 50% of the aggregate number of Contractor's scheduled flights of Covered and Uncovered Aircraft in such month or (ii) the number of Covered Aircraft is at least 200, then Contractor crews, maintenance personnel and other resources shall be allocated on a priority basis to Scheduled Flights above all other flights and aircraft.