Event of Loss with Respect to the Aircraft. Upon the occurrence of any Event of Loss (as defined in Schedule A herein) with respect to the Aircraft, Sublessee shall notify Sublessor within five (5) days of the date thereof. Upon making the notice required hereby, Sublessee is obligated to pay all Hourly Rents then accrued but unpaid.
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Sources: Non Exclusive Aircraft Sublease Agreement (Venoco, Inc.), Non Exclusive Aircraft Sublease Agreement (Venoco, Inc.)