Common use of Landing Gears Clause in Contracts

Landing Gears. In the event that any of the landing gears is returned to Lessor with less than 40% but more than 25% of the cycles remaining until the next scheduled shop visit as provided in Section 5.3.4 above, then Lessee shall pay to Lessor on the date the term ends an amount computed by multiplying the difference between the actual number of cycles remaining to the next scheduled shop visit for such gear and 40% of the allowable cycles between shop visits times the cycle rate for the nose gear or the main gear, as the case may be. For purposes of this Section 5.4.3, the term "cycle rate" shall be deemed to be the cost that Lessee is paying to third parties at the time the Aircraft is returned under Section 5.3 for overhauling a nose gear or a main gear, as the case may be, divided by the number of cycles permissible between such overhauls under the Maintenance Program. At the end of the Term the Lessee shall furnish Lessor with an Officer's Certificate setting forth the hours and cycles remaining on the Engines or engines installed on the Airframe (in compliance with Section 5.2), the landing gear and the Airframe.

Landing Gears. In the event that any of the landing gears is returned to Lessor with less than 40% but more than 25% of the cycles remaining until the next scheduled shop visit as provided in Section 5.3.4 above, then Lessee shall pay to Lessor on the date the term ends an amount computed by multiplying the difference between the actual number of cycles remaining to the next scheduled shop visit for such gear and 40% of the allowable cycles between shop visits times the cycle rate for the nose gear or the main gear, as the case may be. For purposes of this Section 5.4.3, the term "cycle rate" shall be deemed to be the cost that Lessee is paying to third parties at the time the Aircraft is returned under Section 5.3 for overhauling a nose gear or a main gear, . as the case may be, divided by the number of cycles permissible between such overhauls under the Maintenance Program. At the end of the Term the Lessee shall furnish Lessor with an Officer's Certificate setting forth the hours and cycles remaining on the Engines or engines installed on the Airframe (in compliance with Section 5.2), the landing gear and the Airframe.