Common use of Deficiency Payment Clause in Contracts

Deficiency Payment. If upon return the Airframe or any Engine (including any Replacement Engine) (each, an "Item of Equipment") is below the minimum standard applicable thereto specified in (S) C (the "Minimum"), Lessor shall accept return of the Aircraft, provided that the other return conditions set forth in this Annex B have been satisfied or waived, upon payment to Lessor of the excess (if any) of (1) the sum of the Deficiency Amounts (as such phrase is defined below) for all such Items of Equipment over (2) the sum of the Credit Amounts (as defined below) for all such Items of Equipment; and if there is no such excess, Lessor shall accept return of the Aircraft without any payment by Lessee. For purposes of this (S) D, with respect to any Item of Equipment, "Performance Costs" is the cost of performing the applicable overhaul or refurbishment on which the Minimum for such Item of Equipment is based at a rate equal to 120% of the direct cost to Lessee of performing such work or, if Lessee does not perform such work, at a rate then charged by an outside maintenance provider to Lessee for performing such work;

Deficiency Payment. If upon return the Airframe or any Engine (including any Replacement Engine) (each, an "Item of Equipment") is below the minimum standard applicable thereto specified in (S) Section C (the "Minimum"), Lessor shall accept return of the Aircraft, Aircraft provided that the other return conditions set forth in this Annex B have been satisfied or waived, waived by Lessor upon payment to Lessor of the excess (excess, if any) , of (1i) the sum of the Deficiency Amounts (as such phrase term is defined below) for all such Items of Equipment over (2ii) the sum of the Credit Amounts (as defined below) for all such Items of Equipment; and provided that if there is no such excess, Lessor shall accept return of the Aircraft without any payment by Lessee. For purposes of this (S) Section D, "Performance Costs," with respect to any Item of Equipment, "Performance Costs" is shall mean the cost of performing the applicable overhaul or refurbishment on which the Minimum for such Item of Equipment is based at a rate equal to 120110% of the direct cost to Lessee of performing such work or, if Lessee does not perform such work, at a rate then charged by an outside maintenance provider to Lessee for performing such work;; "