Example ContractsClausesFailure to Maintain Controllable Completion Rate
Failure to Maintain Controllable Completion Rate
Failure to Maintain Controllable Completion Rate contract clause examples

Failure to Maintain Insurance. In the event the Borrower fails to take out or maintain or to cause any Persons that are a party to a Project Document to take out and maintain, the full insurance coverage required by this [Schedule 5.17] or by their respective Project Document, the Lenders may (but shall not be obligated to), upon thirty (30) days’ prior notice (unless the aforementioned insurance would lapse within such period, in which event notice should be given as soon as reasonably possible) to the Borrower of any such failure, take out the required policies of insurance and pay the premiums on the same. All amounts so advanced by the Lenders shall become an additional obligation of the Borrower to the Lenders, and the Borrower shall forthwith pay such amounts to the Lenders together with interest thereon at the Default Rate within thirty (30) days from the date so advanced.

Failure to Maintain Insurance. In the event the Borrower fails to take out or maintain or to cause any Persons that are a party to a Project Document to take out and maintain, the full insurance coverage required by this [Schedule 5.17] or by their respective Project Document, the Lenders may (but shall not be obligated to), upon thirty (30) days’ prior notice (unless the aforementioned insurance would lapse within such period, in which event notice should be given as soon as reasonably possible) to the Borrower of any such failure, take out the required policies of insurance and pay the premiums on the same. All amounts so advanced by the Lenders shall become an additional obligation of the Borrower to the Lenders, and the Borrower shall forthwith pay such amounts to the Lenders together with interest thereon at the Default Rate within thirty (30) days from the date so advanced.

Failure to Maintain Insurance. In the event the Collateral Parties fail to take out or maintain the full insurance coverage required by this [Schedule 8.4.1], the Lenders may (but shall not be obligated to), upon thirty (30) days' prior notice (unless the aforementioned insurance would lapse within such period, in which event notice should be given as soon as reasonably possible) to Collateral Parties of any such failure, take out the required policies of insurance and pay the premiums on the same. All amounts so advanced by the Lenders shall become an additional Obligation of Collateral Parties to the Lenders, and the Collateral Parties shall forthwith pay such amounts to the Lenders together with interest thereon at the Default Rate from the date so advanced.

Controllable Completion Adjustment. For each calendar month during the Term, a controllable completion adjustment amount shall be determined as set forth in this Section 3.2(a), which shall be comprised of such an adjustment with respect to the [[Unknown Identifier]] Covered Aircraft, on the one hand (the “[[Unknown Identifier]] CCF Adjustment”), and such an adjustment with respect to the Bombardier Covered Aircraft, on the other hand (the “Bombardier CCF Adjustment”); provided that, for each calendar month, for each of the [[Unknown Identifier]] CCF Adjustment and the Bombardier CCF Adjustment, such adjustment shall equal the product of # the Target (as defined below) minus Controllable Cancellations for the applicable fleet during such month, multiplied by # ​ (provided that such figure shall be adjusted on each June 1 of each calendar year as follows: the new figure, applicable beginning on June 1 of each calendar year, shall be equal to the figure in effect on the date immediately preceding June 1 of each calendar year multiplied by ​); and the “Target” means, for each calendar month with respect to the applicable fleet, the product of # ​, multiplied by # the total quantity of Scheduled Flights during such month for such fleet. For all purposes of this Section 3.2(a), the number of Controllable Cancellations for [[Unknown Identifier]] Covered Aircraft or Bombardier Covered Aircraft, as the case may be, in any calendar month shall be deemed to be reduced by the product of # ​, multiplied by # the number of consecutive 24-hour periods, , that any [[Unknown Identifier]] Covered Aircraft or Bombardier Covered Aircraft, as the case may be, is not in scheduled service due solely to the​; provided, however, that such product will in no event exceed the ​ for such calendar month for the applicable fleet, and the [[Unknown Identifier]] CCF Adjustment or the Bombardier CCF Adjustment, as the case may be, shall be re-computed in accordance with the applicable deemed reduction pursuant to this sentence (such re-computed adjustment, the “Deemed [[Unknown Identifier]] CCF Adjustment” or the “Deemed Bombardier CCF Adjustment”). Subject to Section 4.1(g), if the sum of # the [[Unknown Identifier]] CCF Adjustment (or, if applicable, the Deemed [[Unknown Identifier]] CCF Adjustment) plus # the Bombardier CCF Adjustment (or, if applicable, the Deemed Bombardier CCF Adjustment) is a negative number for a calendar month, then the Monthly Incentive Adjustment shall be reduced by the absolute value of such sum for such month. If the sum of # the [[Unknown Identifier]] CCF Adjustment (or, if applicable, the Deemed [[Unknown Identifier]] CCF Adjustment) plus # the Bombardier CCF Adjustment (or, if applicable, the Deemed Bombardier CCF Adjustment) is a positive number for a calendar month, then the Monthly Incentive Adjustment shall be increased by the absolute value of such sum for such month. Notwithstanding anything to the contrary in the foregoing, for each calendar month during the Term, with respect to the [[Unknown Identifier]] Covered Aircraft or the CRJ Covered Aircraft, each calculated separately, if the applicable schedule for Scheduled Flights for such calendar month does not meet the applicable minimum parameters for both ​ with respect to the applicable fleet as set forth below at each Base Location ​.

Controllable On Time Departures and/or Controllable Completion Rate. If a Covered Aircraft is not available to operate a Scheduled Flight, and American is able to locate an operator other than Contractor to operate such flight, and that flight is canceled or delayed, then

Failure to Maintain Insurance. In the event the Borrower fails to take out or maintain or to cause any Persons that are a party to a Project Document to take out and maintain, the full insurance coverage required by this [Schedule 5.17] or by their respective Project Document, the Administrative Agent may (but shall not be obligated to), upon thirty (30) days’ prior notice (unless the aforementioned insurance would lapse within such period, in which event notice should be given as soon as reasonably possible) to the Borrower of any such failure, take out the required policies of insurance and pay the premiums on the same. All amounts so advanced by the Administrative Agent shall become an additional obligation of the Borrower to the Administrative Agent, and the Borrower shall forthwith pay such amounts to the Administrative Agent together with interest thereon at the Default Rate within thirty (30) days from the date so advanced.

Failure to Maintain Controllable On Time Departures. Contractor’s Controllable On Time Departures is less than ​ during the Term of this Agreement; or

Failure to Maintain Controllable Completion Rate. Contractor’s Controllable Completion Rate is less than ​ during the Term of this Agreement;

Failure to Maintain Controllable Completion Rate. Contractor’s Controllable Completion Rate is less than ​ during the Term of this Agreement;

Failure to Maintain by Tenant. If Tenant fails to maintain the Premises as required by this Lease and such failure continues for a period of thirty (30) days after Tenant’s receipt of notice from Landlord of the same, Landlord may, at its option, enter the Premises and perform such maintenance on behalf of Tenant upon reasonable notice. Upon receipt of an invoice from Landlord, Tenant shall promptly pay the entire reasonable cost thereof, together with an additional administrative charge of five percent (5%) calculated on the amount paid by Landlord, plus interest accruing at the Default Rate of Interest from the date of submission of the invoice to Tenant, as Additional Rent.

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