Adjustments to Basic Rent. (i) In the event that Sublessee pays an indemnity obligation under the Sublease Tax Indemnity Agreement, then the Basic Rent, Termination Value amounts set forth in EXHIBIT C and the EBO Amount set forth on EXHIBIT D shall be recalculated upwards or downwards by the Sublessor using the same methods and Sublease Agreement (MSN 30808) assumptions (except to the extent such assumptions shall be varied to take into account the Loss (as defined in the Sublease Tax indemnity Agreement) that is the subject of such indemnification and any prior or contemporaneous Loss) used to calculate Basic Rent amounts, the Termination Value amounts and the EBO Amount on the Delivery Date in order to (1) maintain the Sublessor's Net Economic Return and (2) to the extent possible consistent with clause (1) hereof, minimize the Net Present Value of Rents to Sublessee. (ii) Any recalculation of Basic Rent, Termination Value amounts and EBO Amounts pursuant to this SECTION 3(c) shall be determined by Sublessor and shall be subject to the verification procedure set forth in SECTION 3(g) hereto. (iii) Any such adjusted Basic Rent, Termination Value amounts and EBO Amount shall be set forth in a Sublease Supplement or an amendment to the Sublease.
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Sources: Sublease Agreement (Atlas Air Worldwide Holdings Inc)
Adjustments to Basic Rent. (i) In the event that Sublessee Lessee pays an indemnity obligation under the Sublease Tax Indemnity Agreement, then the Basic Rent, Termination Value amounts set forth in EXHIBIT C and the EBO Amount set forth on in EXHIBIT D shall be recalculated upwards or downwards by the Sublessor Lessor using the same methods and Sublease Agreement (MSN 30808) assumptions (except to the extent such assumptions shall be varied to take into account the Loss (as defined in the Sublease Tax indemnity Indemnity Agreement) that is the subject of such indemnification and any prior or contemporaneous Loss) used to calculate Basic Rent amounts, the Termination Value amounts and the EBO Amount on the Delivery Date in order to (1) maintain the SublessorLessor's Net Economic Return and (2) to the extent possible consistent with clause CLAUSE (1) hereof, minimize the Net Present Value of Rents to SublesseeLessee.
(ii) Any recalculation of Basic Rent, Termination Value amounts and the EBO Amounts Amount pursuant to this SECTION 3(c) shall be determined by Sublessor Lessor and shall be subject to the verification procedure set forth in SECTION 3(g) hereto.
(iii) Any such adjusted Basic Rent, Termination Value amounts and the EBO Amount shall be set forth in a Sublease Lease Supplement or an amendment to the SubleaseLease.
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Adjustments to Basic Rent. (i) In the event that Sublessee pays an indemnity obligation under the Sublease Tax Indemnity Indemnification Agreement, then the Basic RentRent amounts set forth on EXHIBIT B-1, the Termination Value amounts set forth in EXHIBIT C on EXHIBITS C-1 AND C-2 and the EBO Amount set forth on EXHIBIT D shall be recalculated upwards or downwards by the Sublessor using the same methods and Sublease Agreement (MSN 30808) assumptions (except to the extent such assumptions shall be varied to take into account the Loss (as defined in the Sublease Tax indemnity Indemnification Agreement) that is the subject of such indemnification and any prior or contemporaneous Loss) used to calculate the Basic Rent amounts, the Termination Value amounts and the EBO Amount on the Delivery Date in order to (1) maintain the Sublessor's Net Economic Return and (2) to the extent possible consistent with clause (1) hereof, minimize the Net Present Value of Rents to Sublessee.
(ii) Any recalculation of Basic RentRent amounts, Termination Value amounts and EBO Amounts Amount pursuant to this SECTION 3(c) shall be determined by Sublessor and shall be subject to the verification procedure set forth in SECTION 3(g) hereto).
(iii) Any such adjusted Basic RentRent amounts, Termination Value amounts and EBO Amount shall be set forth in a Sublease Supplement or an amendment to the Sublease.
Appears in 1 contract
Sources: Amendment Agreement (Atlas Air Worldwide Holdings Inc)