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

Event of Loss with Respect to the Airframe. Subject to the other provisions of this Section 11, upon an Event of Loss with respect to the Airframe or the Airframe and any Engines then installed thereon, Lessee shall forthwith (and, in any event, within five (5) Business Days after such occurrence) give Lessor written notice of such occurrence and within thirty (30) days after such occurrence give Lessor written notice of its election, subject to the terms hereof and of the Indenture, to perform one of the following two options (it being agreed that if Lessee shall not have given Lessor notice of such election within thirty