Return of Lease Engines Sample Clauses

The 'Return of Lease Engines' clause outlines the obligations and procedures for returning leased aircraft engines at the end of the lease term. It typically specifies the required condition of the engines, such as maintenance standards, documentation, and any necessary inspections or repairs before return. This clause ensures that the engines are returned in a serviceable state, protecting the lessor’s asset and minimizing disputes over engine condition at lease termination.
Return of Lease Engines. AIRLINE will redeliver the lease engine Delivery Duty Paid (DDP, Incoterms 2000) to a CFM housekeeping facility as identified by CFM as soon as practicable, but in no case later than ***** following Redelivery of an Engine. AIRLINE will pay the hourly restoration charges and the LLP fees per flight cycle payable under the lease in respect of the lease engine during such ***** period and CFM will waive the daily engine rental fees payable under the lease in respect of the lease engine. AIRLINE will commence paying any and all lease fees on ***** following correction of the AOG condition.
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Return of Lease Engines. Customer will remove the AOG Lease Engine from an Aircraft and make available for collection by GE or GE’s nominated carrier FCA (Incoterms 2010), which GE acting as buyer, as soon as practicable after the AOG Condition has been resolved by a Customer Engine becoming available for installation as a spare Engine, but in no case later than ten (10) Days after the AOG Condition has been resolved by a Customer Engine becoming available for installation as a spare Engine (the “Lease Return Period”). GE will pay the daily engine rental fees, the hourly restoration charges and the LLP fees per flight cycle and Customer will pay the applicable Rate Per EFH for EFH incurred by the AOG Lease Engine during the Lease Return Period. Customer will commence paying any and all applicable lease fees on expiry of the Lease Return Period. [***].
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Return of Lease Engines i. Outside of [***]: (1) Customer shall make the lease engine available for pick up by GE, from Customer’s Primary Hubs, as soon as practicable, but in no case later than ten (10) Days following redelivery of an Engine; (2) Customer shall be responsible for clearing the lease engine for import or export where applicable, and shall bear all costs (included but not limited to payment of duty for import [***] Represents material which has been redacted and filed separately with the Commission pursuant to a request for confidential treatment pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. Agreement# 1-3036849991 - 0 - 5 - or export and all customs formalities) and risks involved in bringing the lease engine to its designated Primary Hub location; (3) Customer bears risk of loss for the lease engine until GE designated transportation pick up; (4) Customer shall provide GE with notice regarding Customer’s designated Primary Hub location; (5) [***]; and (6) Pursuant to 3.4.a.(v), above, Customer shall pay any and all applicable fees on or before the eleventh (11th) Day following correction of the AOG condition. ii. Under [***]: (1) Customer shall make lease engines [***] available for pick up by GE, from Customer’s designated Primary Hub location, as soon as practicable, but in no case later than ten (10) Days following redelivery of the last [***]; (2) Customer shall be responsible for clearing the lease engine for import or export where applicable, and shall bear all costs (included but not limited to payment of duty for import or export and all customs formalities) and risks involved in bringing the Lease Engine to its designated Primary Hub location; (3) Customer bears risk of loss for the lease engine until GE designated transportation pick up; and (4) Customer shall provide GE with notice regarding Customer’s designated Primary Hub location.
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Related to Return of Lease Engines

  • Construction of Lease This Lease has been prepared by Landlord and its professional advisors and reviewed by Tenant and its professional advisors. Landlord, Tenant, and their advisors believe that this Lease is the product of all their efforts, that it expresses their agreement, and agree that it shall not be interpreted in favor of either Landlord or Tenant or against either Landlord or Tenant merely because of their efforts in preparing it.

  • Use of Leased Property ▇▇▇▇▇▇ agrees to use the Leased Property only as residence. ▇▇▇▇▇▇ agrees to obey all federal, state and local laws and regulations when using the Leased Property. ▇▇▇▇▇▇ agrees not to store any flammable or dangerous things in or around the Leased Property. ▇▇▇▇▇▇ agrees not to do anything in or around the Leased Property, which could harm anyone or damage any property. ▇▇▇▇▇▇ agrees that Tenant will not allow more than one person per bedroom to live in the Leased Property without the written permission of Landlord. The fact that Tenant may have conflict with a roommate will not act as grounds to terminate this Lease. In the event that ▇▇▇▇▇▇ is arrested for or charged with any crime (other than a traffic related offense not involving illegal or controlled substances) during the term of the Lease, and/or Landlord is presented with evidence of activities of Tenant which shall constitute a nuisance or a threat to Landlord, other tenants, the Leased Property or the development, Landlord shall have the right to evict Tenant from the Leased Property.

  • Date of Lease June 29, 2001

  • Condition of Leased Property Tenant acknowledges receipt and delivery of possession of the Leased Property and Tenant accepts the Leased Property in its “as is” condition, subject to the rights of parties in possession, the existing state of title, including all covenants, conditions, restrictions, reservations, mineral leases, easements and other matters of record or that are visible or apparent on the Leased Property, all applicable Legal Requirements, the lien of any financing instruments, mortgages and deeds of trust existing prior to the Commencement Date or permitted by the terms of this Agreement, and such other matters which would be disclosed by an inspection of the Leased Property and the record title thereto or by an accurate survey thereof. TENANT REPRESENTS THAT IT HAS INSPECTED THE LEASED PROPERTY AND ALL OF THE FOREGOING AND HAS FOUND THE CONDITION THEREOF SATISFACTORY AND IS NOT RELYING ON ANY REPRESENTATION OR WARRANTY OF LANDLORD OR LANDLORD’S AGENTS OR EMPLOYEES WITH RESPECT THERETO AND TENANT WAIVES ANY CLAIM OR ACTION AGAINST LANDLORD IN RESPECT OF THE CONDITION OF THE LEASED PROPERTY. LANDLORD MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IN RESPECT OF THE LEASED PROPERTY OR ANY PART THEREOF, EITHER AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, AS TO THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, LATENT OR PATENT, IT BEING AGREED THAT ALL SUCH RISKS ARE TO BE BORNE BY TENANT. To the maximum extent permitted by law, however, Landlord hereby assigns to Tenant all of Landlord’s rights to proceed against any predecessor in interest or insurer for breaches of warranties or representations or for latent defects in the Leased Property. Landlord shall fully cooperate with Tenant in the prosecution of any such claims, in Landlord’s or Tenant’s name, all at Tenant’s sole cost and expense. Tenant shall indemnify, defend, and hold harmless Landlord from and against any loss, cost, damage or liability (including reasonable attorneys’ fees) incurred by Landlord in connection with such cooperation.

  • DESCRIPTION OF LEASED PREMISES The Lessor agrees to lease to the Lessee the following described square feet (SF) of Additional Description: Hereinafter known as the “Premises”.