Common use of Event of Loss with Respect to the Aircraft Clause in Contracts

Event of Loss with Respect to the Aircraft. Upon the occurrence of an Event of Loss with respect to the Airframe or the Airframe and the Engines and/or engines then installed thereon, the Borrower shall forthwith give the Administrative Agent and the Lenders written notice of such Event of Loss but in any event within five days of such occurrence. On the earlier of (x) the 90th day following the occurrence of such Event of Loss or (y) the fifth Business Day following the receipt of the insurance proceeds in respect of such Event of Loss, the Borrower shall pay or cause to be paid to the Administrative Agent an amount equal to the aggregate amount of the payment or payments of principal, Break Amount (if any), Additional Costs, interest and other amounts then due on or in respect of the Notes and all other amounts due under the Operative Documents.

Event of Loss with Respect to the Aircraft. Upon the occurrence of an Event of Loss with respect to the an Airframe or the an Airframe and the Engines and/or engines then installed thereon, the Borrower shall forthwith give the Administrative Agent and the Lenders written notice of such Event of Loss but in any event within five days of such occurrence. On the earlier of (x) the 90th day following the occurrence of such Event of Loss or (y) the fifth Business Day following the receipt of the insurance proceeds in respect of such Event of Loss, the Borrower shall pay or cause to be paid to the Administrative Agent an amount equal to the aggregate amount of the payment or payments of principal, Break Amount (if any), Additional Costs, interest and other amounts then due on or in respect of the Notes of the Series issued with respect to such Airframe and all other amounts due under the Operative Documents.