Damages After Re-Lease or Sale Sample Clauses

Damages After Re-Lease or Sale. In the event Lessor, pursuant to Article 15.1.2, above, shall have re-leased the Aircraft or shall have sold the Aircraft, Lessor, in lieu of exercising its rights under Article 15.1.4, below (but without limiting any of its other rights hereunder or under Law), may, if it shall so elect, demand that Lessee pay Lessor and Lessee shall pay Lessor, as liquidated damages for loss of a bargain and not as a penalty (in lieu of the Basic Rent for the Aircraft due for the period commencing as of the commencement of the term of the re-leasing or the date of sale, as the case may be) any accrued but unpaid Basic Rent for the Aircraft due up to and including the date of the commencement of the term of the re-leasing or the date of sale plus: *** Material has been omitted pursuant to a request for confidential treatment and filed separately with the SEC (i) in the case of a re-leasing, the excess of (A) the aggregate unpaid Basic Rent for the Aircraft which would otherwise have become due hereunder over the Term but for the Event of Default, discounted monthly to present value as of the date of the commencement of the term of the re-leasing at 4% per annum, over (B) the aggregate basic rental payments to become due under the re-leasing from the date of the commencement of the term of the re-leasing to the date upon which the Term for the Aircraft would have expired but for Lessee’s default, discounted monthly to present value as of the date of the commencement of the term of the re-leasing at 4% per annum, or (ii) in the case of a sale, the excess of (A) the Stipulated Loss Value for the Aircraft, computed as of the Basic Rent payment date immediately preceding the date of sale, over (B) the net cash proceeds of such sale. The amounts specified in this Article 15.1.3 shall continue to bear interest at the Incentive Rate from the date of the commencement of the term of the re-leasing or the date of sale, as the case may be, until payment is made.