Total Loss of Aircraft or Airframe Clause Samples
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Total Loss of Aircraft or Airframe. (a) If a Total Loss of the Airframe or the Aircraft occurs prior to Delivery, this Agreement will immediately terminate and except as expressly stated in this Agreement neither party will have any further obligation or liability under this Agreement other than pursuant to Clause 18.9, except that Lessor will pay to Lessee an amount equal to the balance of the Security Amount paid by Lessee under Clause 6.2(a).
(b) If a Total Loss of the Airframe or the Aircraft occurs after Delivery, Lessee will pay the Agreed Value to Lessor within three (3) Business Days after the date of receipt of insurance proceeds in respect of that such Total Loss, but in no event later than 45 days after the occurrence of such Total Loss.
(c) Subject to the rights of any insurers and reinsurers or other third party, upon irrevocable payment in full to Lessor of the Agreed Value and all other amounts which may be or become payable to Lessor under this Agreement, Lessor will transfer to Lessee, at Lessee’s expense, without recourse or warranty (except as to the absence of Lessor’s Liens) all of Lessor’s rights to the Aircraft, on an as-is where-is basis, and will execute and deliver such bills of sale and other documents and instruments as Lessee may reasonably request to evidence (on the public record or otherwise) such transfer, free and clear of all rights of Lessor and Lessor’s Liens. Lessee shall indemnify each Indemnitee for all fees and expenses incurred by it in connection with any such transfer.
Total Loss of Aircraft or Airframe. If the Total Loss of the Aircraft or Airframe occurs during the Lease Term, the following will occur:
Total Loss of Aircraft or Airframe. If the Total Loss of the Aircraft or Airframe occurs during the Lease Term, the following will occur:
19.12.1 After the Total Loss Date and until receipt by LESSOR of the Agreed Value and all other amounts then due under this Lease, LESSEE will continue to pay Rent and the parties will perform all of their other obligations under this Lease.
19.12.2 On the date which is the earlier of the following dates:
(a) the date on which the Total Loss Proceeds of the Aircraft or the Airframe are paid by LESSEE’s insurance underwriters or brokers and
(b) the date which falls thirty (30) days after the Total Loss Date, LESSEE will pay to LESSOR an amount equal to the sum of:
(a) the Agreed Value and
(b) all other amounts then due and payable by LESSEE under this Lease, less an amount equal to the Net Total Loss Proceeds received by LESSOR by such date.
Total Loss of Aircraft or Airframe. Upon a Total Loss of the Aircraft or the Airframe occurs prior to Delivery, this Agreement will immediately terminate and except as expressly stated herein, neither party shall have any further obligation or liability under this Agreement. If a Total Loss of the Aircraft or Airframe occurs during the Lease Period, Lessee shall give Lessor prompt notice thereof (in any event within three (3) business days of the occurrence thereof) and Lessee’s obligations hereunder (including the payment of Basic Rent) other than obligations relating to maintenance of the Aircraft shall, subject to the terms hereof, continue and Lessor and Lessee shall proceed diligently and cooperate fully with each other in the recovery of the Total Loss Proceeds.
Total Loss of Aircraft or Airframe. If the Total Loss of the Aircraft or Airframe occurs during the Lease Term, the following will occur:
19.3.1 After the Total Loss Date and until receipt by LESSOR (and/or any other Relevant Party, to the extent required by Article 18 and Exhibit C) of an amount equal to the Agreed Value and all other amounts then due under this Lease, LESSEE will continue to pay Base Rent and all other amounts that become due under the Operative Documents and the parties will perform all of their other obligations under this Lease and the other Operative Documents.
19.3.2 On the date which is the earlier of the following dates:
(a) the date on which the Total Loss Proceeds of the Aircraft or the Airframe are paid by LESSEE's insurance underwriters or brokers and
(b) the date which falls [REDACTED: Item 2] after the Total Loss Date, LESSEE will pay to LESSOR (and/or to any other Relevant Party directly, to the extent required by Article 18 and Exhibit C) an amount equal to the sum of:
Total Loss of Aircraft or Airframe. 59 19.4 Surviving Engine(s)....................................60 19.5
Total Loss of Aircraft or Airframe. If a Total Loss of the Aircraft or the Airframe occurs prior to Delivery, the obligations of the Lessor and the Head Lessee under this Agreement will immediately terminate.
Total Loss of Aircraft or Airframe. (a) If a Total Loss of the Airframe or the Aircraft occurs prior to Delivery, this Agreement will immediately terminate and except as expressly stated in this Agreement neither party will have any further obligation or liability under this Agreement other than pursuant to Clause 19.8.
(b) If a Total Loss of the Airframe or the Aircraft occurs after Delivery, Lessee will pay the Agreed Value to Lessor on or prior to the earlier of (i) ninety (90) days after such Total Loss Payment Date and (ii) the date of receipt of insurance proceeds in respect of such Total Loss.
(c) Subject to the rights of any insurers and reinsurers or other person, upon irrevocable payment in full to Lessor of the Agreed Value and all other amounts which may be or become payable to Lessor under this Agreement, Lessor will procure at Lessee’s expense that there is transferred to Lessee without recourse or warranty (except as to freedom from Lessor’s Liens) all of Lessor’s right, title and interest in and to the Aircraft, on an “as-is where-is” basis, and will procure such bills of sale and other documents and instruments as Lessee may reasonably request to evidence (on the public record or otherwise) such transfer.
Total Loss of Aircraft or Airframe. (a) If a Total Loss of the Aircraft or the Airframe occurs prior to Delivery, the obligations of the Lessor and the Head Lessee under this Agreement will immediately terminate.
(b) If a Total Loss of the Aircraft or the Airframe occurs after Delivery, the Head Lessee shall pay to the Lessor, on or prior to the earlier of (i) sixty (60) days after the Total Loss Date and (ii) the date of receipt of insurance proceeds in respect of that Total Loss, the Final Payment.
Total Loss of Aircraft or Airframe. If the Total Loss of the Aircraft or Airframe occurs during the Term, the following will occur:
19.4.1 after the Total Loss Date and until receipt by Lessor of the Agreed Value, if any, and all other amounts then due under this Agreement, Lessee will continue to pay Basic Rent, and the parties will perform all of their other obligations under this Agreement (unless performance of such other obligations is rendered impossible as the result of the Total Loss).
19.4.2 on the date which is the earliest of the following dates:
(a) the date on which the Total Loss Proceeds for the Aircraft or the Airframe are paid by ▇▇▇▇▇▇'s insurance underwriters or brokers;
(b) the first Business Day which falls at least sixty (60) days after the Total Loss Date or, in the case of a Title Requisition, one hundred eighty (180) days after the Total Loss Date; and
(c) the date on which an Insolvency Event shall have occurred and be continuing.
(i) the Agreed Value; and
(ii) all other amounts (including Basic Rent) then accrued but unpaid under this Agreement, less an amount equal to the Net Total Loss Proceeds received by Lessor or any Lender by such date.
19.4.3 Lessor will apply the Net Total Loss Proceeds and any amounts received from Lessee pursuant to Section