Common use of LEASE AND CONDITIONS Clause in Contracts

LEASE AND CONDITIONS. (1) Lessor hereby agrees, subject to satisfaction of the conditions set forth herein, to lease the Aircraft to Lessee, and Lessee hereby agrees to lease the Aircraft from Lessor, on the terms of this Lease. (2) Lessor's obligation to lease the Aircraft hereunder to Lessee shall be conditioned upon (i) the absence of any Default hereunder and the absence of any materially adverse change in Lessee's financial condition or prospects from the date hereof to the Delivery Date, and (ii) the receipt by Lessor of the following documents on or before the Delivery Date, all of which shall be reasonably satisfactory in form and substance to Lessor: (1) a Lease Supplement executed by Lessee, and effective as of the Delivery Date; (2) such officer's certificates and legal opinions relating to due authority to enter into, the enforceability of, and absence of Defaults under this Lease as Lessor shall require; (3) an Approved Insurance Broker's report as to the due compliance with the insurance provisions of Section 11 hereof; (4) a certificate of an Approved Insurance Broker evidencing the insurance as required by Section 11 hereof; (5) a certificate in the form of Exhibit D completed, executed and delivered by Lessee setting forth the status of the Aircraft and Engines on the Delivery Date; and (6) such other documents and matters incident to the foregoing as Lessor may reasonably request.