Lease Period means the period commencing with delivery of the Aircraft to Lessee as evidenced by an Aircraft Delivery Receipt and ending with the return of the Aircraft to the Operating Base or delivery to Lessor, as applicable.
Lien means any mortgage, security interest, lease or other charge or encumbrance or claim or right of others, including, without limitation, rights of others under any airframe or engine interchange or pooling agreement, created by or through Lessee.
Operating Base means that airport described in Exhibit A.
Operational Control has the same meaning given the term in Section 1.1 of the FAR.
Parts means all appliances, components, parts, instruments, appurtenances, accessories, furnishings or other equipment of whatever nature (other than complete Engines or engines) which may from time to time be incorporated or installed in or attached to the Airframe or any Engine and includes replacement parts.
Pilot in Command has the same meaning given the term in Section 1.1 of the FAR.
Rent means the hourly rent as set forth in Section 3.3, and on Exhibit B attached hereto.
Rent Payment Date means the payments dates as outlined in Exhibit B.
Taxes means all taxes, fees and assessments due, imposed, assessed or levied against the Aircraft (or leasing, possession, use or operation thereof), this Agreement (or any rents or receipts hereunder), Lessor or Lessee, by any domestic or foreign governmental entity or taxing authority during or related to any Lease Period, including, without limitation, all license and registration fees, and all sales, use, personal property, excise, gross receipts, franchise, stamp, value added, custom duties, landing fees, airport charges, navigation service charges, route navigation charges or other taxes, imposts, duties and charges, together with any penalties, fines or interest thereon, except to the extent set forth in Section 12.4 hereof.
Term means the term of this Agreement set forth in Section 3.1.
SECTION 2. LEASE AND DELIVERY OF THE AIRCRAFT
|2.1 || |
Lease. Lessor agrees to lease to Lessee, and Lessee agrees to lease from Lessor, the Aircraft, on the terms and subject to the conditions contained in this Agreement.