Aircraft Lease Clause Examples

Aircraft Lease. This AIRCRAFT LEASE (together with all Supplements, Exhibits and Certificates hereto, the "Lease") is made and entered into as of the 30th day of December, 1996 by and between Fleet Capital Corporation, a Rhode Island corporation ("Lessor"), with a place of business at 50 Kxxxxxx Xxxxx, Fifth Floor, Providence, RI 02903-2305, and Kitty Hawk Aircargo, Inc., a Texas corporation ("Lessee"), having its principal place of business and chief executive office at P.O. Box 612787, 1515 W. 20th Street, DFW International Airpxxx, Xxxxx 00000. Xertain capitalized terms as used in this Lease are defined in Exhibit A hereto, and such definitions are hereby incorporated herein and made a part hereof as though set forth herein in full.

Aircraft Lease. Reference is hereby made to that certain Option -------------- Agreement dated as of July 7, 1997 between Company and Xxxxxx (the "OPTION AGREEMENT"), and the following agreements relating to that certain Gulfstream G- 1159B Aircraft Equipped with two (2) Rolls-Royce Spey MK511-8 Engines (the "AIRCRAFT"): (i) the Aircraft Purchase and Sale Agreement dated as of June 30, 1997, between Atlantic Richfield Company ("ARCO") and Company, (ii) the Purchase Agreement Assignment Agreement, dated as of July 7, 1997, between Company, as assignor, and C.I.T. Leasing Corporation ("LESSOR"), as assignee, as consented to by ARCO in the Consent and Agreement dated as of July 7, 1997, (iii) the Aircraft Lease Agreement dated as of July 7, 1997, between Lessor and Company) (the "LEASE AGREEMENT"), (iv) the Tax Indemnity Agreement, dated as of July 7, 1997, between Lessor and Company, and (v) the Management Agreement, dated as of July 7, 1997, between Company and Xxxxxxx de Vere Group Avia, Inc. (the agreements referred to in (i) through (v) above being referred to collectively as the "AIRCRAFT AGREEMENTS"). Effective as of the Transition Time and subject to payment of the Noncompetition Payment, Xxxxxx hereby exercises the option granted to Xxxxxx under the Option Agreement, subject to the terms hereof. Notwithstanding anything to the contrary contained in the Option Agreement, Company shall (subject to obtaining all necessary consents, unless Company in its sole discretion elects to proceed without such consents) sublease, effective as of January 1, 1998, the Aircraft to Xxxxxx for a term co-terminous with the term of the Lease Agreement, in which event Xxxxxx shall assume all duties, obligations and liabilities of Company pursuant to the Aircraft Agreements relating to the period after January 1, 1998, and Xxxxxx shall, prior to the Transition Time (unless later requested by Company, but not in any event later than January 1, 1998), sign a sublease agreement containing customary terms and conditions consistent with those contained in the Aircraft Agreements. Xxxxxx shall use reasonable best efforts to obtain any and all necessary consents for the sublease of the Aircraft, provided that Company shall reasonably cooperate with Xxxxxx in obtaining such consents (unless Company in its sole discretion elects to proceed without such consents). Commencing as of the Transition Time and prior to January 1, 1998, Xxxxxx shall have the exclusive right to use the Aircraft, provided t...

Aircraft Lease. THIS LEASE made as of this 6th day of May, 2002 ("Lease") by and between N2T, Inc., an Oregon corporation ("Lessor"), and Oakley, Inc., a Washington corporation, with its principal offices located at One Icon, Xxxxxxxx Xxxxx, XX 00000 ("Lessee").

Aircraft Lease. (a) The Aircraft Lease and the Trust Agreement (i) are in full force and effect in the form provided to CoreStates by Pegasus and (ii) have not had any of the provisions thereof waived. (b) All amounts due and payable under the Aircraft Lease prior to the date hereof have been paid in full and no amounts due and payable on or after the date hereof have been prepaid, in whole or in part; (c) To the actual knowledge of officers of the corporate trust department of the Trustee no event or condition constituting an Event of Default under the Aircraft Lease or which with notice or lapse of time, or both, would constitute such an Event of Default has occurred and is continuing under the Aircraft Lease; (d) Trustee will duly perform all of the obligations of the lessor under the Aircraft Lease and shall remain liable thereunder to the Lessee notwithstanding this Agreement or CoreStates' exercise of any of its rights or remedies hereunder; (e) To the actual knowledge of officers of the corporate trust department of the Trustee, no Event of Loss (as

Aircraft Lease. At or prior to the Closing, the Sellers shall, and shall cause the Hostess Entities, to (a) terminate all Contracts and other arrangements involving the lease of any aircraft by or to any of the Hostess Entities and (b) deliver to the Buyer evidence reasonably satisfactory to the Buyer that all of such Contracts and other arrangements have been terminated without any liability or obligation on any Hostess Entity following the Closing, including the payment and satisfaction of any liabilities and obligations due thereunder; provided, that in the event such Contracts or other arrangements have not been terminated as of the Closing, all liabilities and obligations due thereunder as of the Closing shall be deemed Hostess Transaction Expenses.

Aircraft Lease. On the date hereof, the Company has entered an Amended and Restated Aircraft Lease in the form attached hereto as Exhibit A (the “Aircraft Lease”) with SDD Holdings, Inc., an Affiliate of Executive, which shall become effective on the Commencement Date and the Company and Executive shall keep in force during the Employment Term.

Aircraft Lease. The Company agrees to continue, on the terms set forth below and subject to the conditions set forth below, to charter from Jet Connections, Inc. (“JCI”) for the Company’s business purposes the Lxxx 60 aircraft owned by Wxxxxx’x affiliate, RMSC (the “Aircraft”), which is leased by RMSC to JCI. The Company shall use the Aircraft for at least 300 hours during the one-year period following the Resignation Date, and during each of the two one-year periods thereafter. The Company shall pay to JCI, in accordance with JCI’s normal invoicing practices, the Usage Fee (as defined below) and reasonable incidental expenses in connection with each use of the Aircraft by the Company. The “Usage Fee” shall be $2,350 per hour for usage during the first one-year period, and shall be increased or decreased for each of the two one-year periods thereafter to reflect increases or decreases in the consumer price index. For this purpose, increases or decreases shall be measured with reference to the consumer price index, as published by the U.S. Department of Labor (CPI-U, U.S. City Average, all items, 1982-84=100), in effect at December 31 of the calendar year immediately preceding the commencement of each applicable one-year period. The Company’s obligation to continue to charter and use the Aircraft is subject to the following conditions: (a) The obligation shall terminate at such time as the Aircraft is no longer available to JCI. (b) The Company shall be entitled to terminate its obligation at such time as the Company’s Board reasonably determines that the cost of using the Aircraft (the Usage Fee together with the related incidental expenses) is not as favorable as the cost that could be negotiated with an unaffiliated third party for an alternative aircraft of similar type and quality; provided that, prior to exercising such right to terminate, the Company shall first provide JCI with a reasonable opportunity to match the unaffiliated third party cost. (c) The Company’s hourly commitment shall be reduced to the extent the Aircraft is not available to satisfy any particular request for its use by the Company, provided that the Company has given at least five days’ prior notice to JCI of such request. (d) The Company shall be entitled to terminate its obligation at such time as the Aircraft has not been available, in any three-month period, to satisfy at least 80% of the particular requests for its use made by the Company, regardless of how much prior notice is given by the...

Aircraft Lease. 26 (8) Indebtedness of Shareholders, Directors etc...........26 (9) Resignations..........................................25 (10) Life Insurance........................................26 (11) Evidence..............................................26 (12) Corporate Action......................................26 (13) Approvals, Consents, etc..............................27 (14) Approval of Counsel and Opinions......................27 Section 8 --NON-COMPETITION AND EMPLOYMENT AGREEMENT..........................27

Aircraft Lease. This AIRCRAFT LEASE (together with all Supplements, Exhibits, Riders and Addenda hereto, the "Lease") is made and entered into as of October ___, 2002 by and between VERDE CAPITAL CORPORATION, an Arizona corporation ("Lessor"), with a place of business at 4000 X. Xxxxxx Xxxxxx Xxxx, Xxxxx X, Xxxxxxx, XX 00000, and DRIVETIME CREDIT CORPORATION, an Arizona corporation ("Lessee"), having its principal place of business and chief executive office at 4000 X. Xxxxxx Xxxxxx Xxxx, Xxxxxxx, XX 00000. Certain capitalized terms as used in this Lease are defined in Exhibit A hereto, and such definitions are hereby incorporated herein and made a part hereof as though set forth herein in full.