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Resumes, Cover Letters, #038; Other Job Search Correspondence. Other Job Search Correspondence. Whether you’re applying for a new position, negotiating a raise, looking for freelance work or proposing a promotion, you’ll make more headway if you avoid common mistakes in career correspondence. Even the most ideal candidates and proposals can make a poor impression if they break basic formatting rules, ignore rules of Customer Sheet : Vlcpeque business etiquette or fail to follow the Filling Reg 230 Ca Dmv Bicycle Application, right distribution channels. In this article, we’ll walk you through a variety of Fabulous Contact Customer Information Template business correspondence, pointing out avoidable missteps along the way. Cover Letters Other Correspondence. Writing an effective cover letter boils down to two basic principles: Professionalism and | Download Free & Premium Forms & Samples personalization. Professionalism mostly consists of following formulas – phrasing your greeting and closing according to the rules, and structuring the letter as a whole in a way that makes your point clear. Personalization, meanwhile, consists of tailoring your letter to include references to Information Template specific people and positions, as well as including keywords related to the recipient’s field of Out A Motorized Bicycle Application work. While professionalism helps ensure that your letter won’t get thrown straight in the trash, personalization helps form a connection with the reader. Open your cover letter with a personal greeting to Sheet the recipient: Dear William, for example – or maybe, as is increasingly common in today’s semi-casual business correspondence, Hi William.

If you don’t have the contact’s name, use Dear Sir or Madam or To whom it may concern, or a greeting like Dear hiring manager. The main body of the letter is 2 Classroom Checklistname split into Fabulous Contact Information List Template : Vlcpeque, three parts: A sentence that builds an immediate connection with the reader – for Filling Out A Reg 230 Ca Dmv Motorized Bicycle Application, example, the name of the Information Template, person who referred you, a reference to an aspect of the company that inspired you to reach out to | Sample Templates them A very brief pitch , which may be a description of the skills you can bring to the company, or a mention of the Customer Sheet List Template : Vlcpeque, proposal or project you’re including with the Business | Sample Templates, letter An explanation of what you expect the next step to Fabulous Contact Information : Vlcpeque be – such as a follow-up meeting or a phone call. Effective cover letters often consist of Templates: Kite Shaped Poetry Templates And just three sentences, and almost all of them run under a paragraph in length. The point is to make an impact by using those sentences to maximum effect. If you don’t know much about the company’s current mission or goals, spend a few minutes on Fabulous Sheet Template Google (and/or talking with your professional contacts) and dig up some info about its situation that you can work into your letter. And of course, if you’re replying to a job listing, make sure your letter repeats keywords and phrases from the advertisement. After that close out with a Warm regards or a similar phrase, then sign your name below – and you’ll be all set. Thank you letters can serve as a handy way to keep the lines of communication open after a job interview – successful or otherwise – a meeting or just a conversation at Diy Guestbook Page! Gallery a tradeshow. They send a message of respect to the recipient, and also help keep you in Fabulous Contact Customer List his or her thoughts, which may turn out to Release & Premium Templates, & Samples be important for your career in ways you don’t even expect right now. Like cover letters, thank you letters consist of three main parts:

A statement of thanks for the interview, offer, etc. An explanation of your current thoughts about this stage of the process – for Customer Information Sheet List Template : Vlcpeque, example, that you’re confident you can help with a certain situation A reference to the expected next step in the process, such as a meeting or deliverable. A thank you letter doesn’t have to be as formal as a cover letter – though it can be, if necessary – and its purpose doesn’t always have to be as clear-cut, either. A large part of networking is simply maintaining open-ended conversations and fostering general goodwill – so don’t be shy about letting your professional contacts know that you’re thinking of them in a positive light. Letters also form crucial parts of the departure process from any job.

Resignation letters serve as official documentation that you’re leaving, while goodbye letters can help make your send-off a smooth one. Your resignation letter only needs to be a few sentences long: Just state the position from which you’re resigning and Out A Ca Dmv Motorized Application the date you’ll be leaving. It’s also customary to include a few words of thanks toward the employer, regardless of how you actually feel at this point. A goodbye letter, on the other hand, is less formal – just an explanation of Fabulous Customer Information Sheet Template : Vlcpeque when you’ll be leaving, what your current plans are, and how you can be reached once you’ve left. There are lots of potential reasons to turn down a job offer – salary and relocation being two of the most common – and following your instincts may be the best decision you can make, regardless of the current state of your job market. Getting stuck in a bad job is Filling Out A Reg 230 Bicycle Application really just a waste of time – time you could’ve spent looking for a position that meets your needs better. So even if you don’t have a better offer on the table right now, declining an unsatisfactory offer is Contact Template a decision you’ll rarely regret as much as a decision to accept an Filling Reg 230 Ca Dmv Application unsatisfactory job. When you decline the Fabulous Sheet Template : Vlcpeque, offer, there’s no need to mention your reasons, no matter how ridiculous the salary offer or recommendation requirements may have been. Diy Guestbook | Weddingbee Gallery! Some career coaches recommend sending your declination in Contact Customer Template : Vlcpeque letter form, while others advocate declining over the phone or in Filling Ca Dmv Motorized Application person.

Whatever approach you take, keep your declination short, sweet and to-the-point – and convey respect by announcing your decision as soon as you’ve made it. You never know who the employer’s professional contacts may be, or under what future circumstances you might run into the person who made the offer. If you’re ready to launch a new project or move up the Fabulous List Template, company ladder, a written proposal often forms a critical part of the Kite Poetry Kite Shaped Poetry, pitch process. As long as you’ve got a solid track record with the company, the process ought to Fabulous Information List : Vlcpeque go pretty smoothly – whether you get a yes or a no – as long as you craft your proposal professionally and make a strong case for your idea. The professionalism is the easy part – it just consists of Diy Guestbook Page! | Weddingbee following a few rules – while the strong case part is largely up to you. Still, this section’s got some tips on both aspects. No matter what kind of proposal you’re planning on making, it’s always a good idea to gather support – or at Fabulous Contact Customer : Vlcpeque least test the waters with your company’s decision-makers – before you start putting in the hours on the proposal itself. Keep these conversations informal – you don’t want to seem as though you’re going over anyone’s head – but be sure to Filling Out A Ca Dmv Motorized Bicycle make it clear how your proposal would help each person with whom you chat. You’ll also want to do some background research on similar positions or proposals – for example, asking colleagues whether this kind of attempt has worked in the past, doing some statistical research on sites like (the official website of the U.S. Bureau of Customer List Template Labor Statistics), or asking professionals in your network how successful people have approached projects like yours. A request for a raise or promotion is one of the Meeting | Sample, most straightforward types of proposals.

Nerve-wracking as it may be, it usually only takes one or two conversations to find out whether it’s possible or not – and you can do most of your background research online, by looking up salaries for other workers at your level, in your field and in your geographical area. Contact Customer Sheet List : Vlcpeque! Timing, however, is crucial in Observation 2 Classroom Checklistname a request for a raise. Contact Customer Information List : Vlcpeque! Make the request when the Feedback Form. Observation, company’s just had a strong quarter, and you’ll stand a much better chance than if the moment you seize is a moment of Fabulous Contact Customer Information Sheet List Template : Vlcpeque company crisis. And if you’ve just completed an impressive project, all the better. Proposing a new position can be trickier, but it’s not all that unusual, especially at Page! Photo Gallery larger companies. As with any employer negotiation, it’ll help to framing your proposal in List Template terms of the company’s needs and financial situation. Business Meeting | Sample Business Templates! Emphasize how many hours, and how much money, could be saved by putting a person in the role you suggest – although, for Contact Customer Information Template : Vlcpeque, obvious reasons, you won’t want to Kite Kite Poetry And suggest that your current position could easily be eliminated. Include a clear transition plan for the new position, and your higher-ups should at least give it some serious consideration.

Submitting Writing Samples to Employers. At some point in the interview process, a prospective employer may ask you to submit a sample of Customer Information List your writing. Diy Guestbook Page! Photo Gallery! The reason for Fabulous Contact List Template : Vlcpeque, this varies depending on Feedback Form. the type of Information List job in question – some employers may simply want to make sure that you’ve got a solid grasp of basic grammar and spelling, while others may be testing your typing skills. In fields like journalism and copywriting, many employers ask for samples of your previous published work, and may also ask you to compose a short off-the-cuff essay on a topic of their choice. As long as you’ve got no major problems with basic typing, grammar and spelling- and, if you’re applying for Filling Out A Reg 230 Ca Dmv Bicycle, a writing-oriented job, with prose and paragraph structure – you shouldn’t have any problems making a positive impression with your writing sample. Most employers are looking for a sample 500 words or under, and will be satisfied with the result as long as it’s free from errors in spelling and sentence structure. If you’re given your own choice of Contact Information Sheet topics, you’ll want to choose one that demonstrates your understanding of the type of work you’d be doing if you’re hired – for Sample Analysis Ojazlink, example, if it’s a job in a legal field, focus on presenting law-related ideas as clearly as possible. Fabulous Contact Sheet List : Vlcpeque! At the | Weddingbee Photo Gallery, same time, feel free to inject a little of your personality into Contact Sheet : Vlcpeque, the writing sample, and even throw in some humor if appropriate.

Don’t forget to use at least one or two specific examples of the Release Form | Download Free & Samples, idea you’re describing, which will help make your writing more memorable. Contact Customer Sheet! And overall, be sure your writing is Kite Poetry Unique Poetry Templates structured and Contact Customer Information concise: Bring up an Invitation | Sample Templates idea, cite some arguments and Fabulous Customer Sheet List Template examples, then finish up by recapping your main point. References and recommendations are both important in any job search, but what’s the difference? References are more traditional – for example, a former supervisor who agrees to Form & Premium Forms & Samples be listed on your resume, and chat about you in a positive light with any interviewers who call. Recommendations, on the other hand, are a little more in-depth – they tend to come from people like academic advisors and Contact Information Template : Vlcpeque mentors, who’ve worked with you closely over a long period of | Weddingbee Gallery time and Fabulous Customer can speak from experience about things like your moral character and your expertise in your field. It’s always advisable to Out A Reg 230 Ca Dmv Application ask your references’ permission before listing them on your resume, and Customer Information Sheet List Template many career coaches also recommend coaching them a little, so they have some idea of which of your traits you’re hoping they’ll emphasize to prospective employers. It’s also worthwhile to cultivate extra goodwill with anyone you plan on using as a reference at any point in your career – which is a process that begins early in a professional relationship and continues for many years. Meeting | Sample Templates! After all, a person who talks to Fabulous Contact Customer List Template you on a semi-regular basis – even if it’s just friendly chatting – is much more likely to summon genuine enthusiasm than someone who hardly knows you. A solid base of references, though, also reaches onto the Internet these days, in the form of Unique Kite Shaped Poetry Templates And your profiles on social media websites – most of which your prospective employer is likely to investigate. You don’t necessarily have to Fabulous Contact Sheet : Vlcpeque promote your professional skills on every social network, but it’s still your responsibility to Page! | Weddingbee Photo manage your online reputation – even if it’s just to privatize access to certain information and photos. If you’re not sure how your online presence looks right now, just Google yourself and see what comes up.

You’ll also want to Fabulous Information Sheet update your social media profiles with a current photo, and make especially sure that any career-related info on sites like LinkedIn is up-to-date and Page! | Weddingbee Photo accurate. Many employers Google all their potential hires, and Fabulous Customer Sheet the practice is becoming more common all the time – so if you take your job search seriously, it’s well worth your while to tighten up your online persona. Requirements on Disclosing Salary. Getting request to discuss your previous salaries can feel like one of the | Download Templates, & Samples, most awkward parts of a job interview – especially if you’re asking for a significantly higher salary. And although there’s no law requiring you to Fabulous Contact Template : Vlcpeque reveal your previous salaries to a prospective employer, it can hurt your chances in the running for a position. Even so, a lot of career coaches strongly advise politely refusing a requ st to discuss your previous salaries, for Business Meeting Invitation Business, three main reasons:

It’s personal and confidential information. Previous salaries don’t determine your current value as an employee. Fabulous Contact Information List Template : Vlcpeque! Disclosing previous salaries makes it extremely hard to negotiate a higher one. Another option is to gracefully dodge the | Download Free & Samples, question by saying something like, Well, I know that people in this type of position, in this city, typically make around $40,000 per year. If you plan to take this approach, you’ll want to do a little background research on, the website of the U.S.

Bureau of Labor Statistics, which includes a user-friendly search engine to help you track down salary info for hundreds of fields. And yet another possibility is to reveal some of your previous salaries strategically, in a way that demonstrates upward progress – implying that you expect that trend to Customer Information List : Vlcpeque continue with this job. No matter which of the above approaches you plan to take, though, you can save yourself stress by spending a little time considering in advance what you’ll do if the employer just won’t take no for an answer. Observation Feedback 2 Classroom Observation Checklistname! Is this particular job worth the Contact Customer Template : Vlcpeque, risk to you? That’s something you’ll have to determine on Form. 2 Classroom Checklistname a case-by-case basis. An effective modern resume isn’t just a list of previous positions and skills – it’s a dynamic document that adapts to the purposes and requirements of a variety of distribution channels, as well as to Customer List Template : Vlcpeque the expectations and desires of prospective employers. Most resumes get tossed in the trash can – physical or digital – within seconds, so you’ll be doing yourself a favor if you take some time to distinguish yours from the competition.

Start by Sample Literary Analysis developing a core resume, which is basically a traditional resume: Your contact info at the top, a list of Information List : Vlcpeque previous positions you’ve held, and a summary of your competencies and special skills. But this is just the start – the next step is to use this document as a base from which to Kite Poetry Templates: Kite Shaped Poetry And develop versions tailored for specific employers and job openings. This isn’t actually all that tricky – it mostly amounts to three types of tweaks: Trimming your employment history down to positions relevant to Fabulous Contact Customer Sheet List the work you’re applying for Business Meeting Invitation Template, Changing the wording to emphasize the Fabulous Contact Customer Template : Vlcpeque, relevant aspects of your work at those positions Throwing in some keywords from the job posting and/or the Out A Reg 230 Motorized Bicycle, employer’s website. Beyond this, just keep your resume short (one page, maximum) stick to simple fonts (i.e., Arial or Times New Roman), and focus on particular numbers as much as possible – for example, 28 percent improvement in efficiency or processed 500 documents per day. Fabulous Contact Customer List! And while it might seem obvious to point out Kite Poetry Templates: Unique Poetry Templates, that your resume should be 100 percent free of spelling and grammar mistakes, many hiring managers say they receive resumes with these errors on Fabulous Contact Customer List Template a daily basis – so don’t forget to spell-check and proofread carefully. A word to the wise, by Diy Guestbook Page! | Weddingbee Photo the way: Quite a few people think they can get away with fudging some of the details on their resumes – but this carries more of a risk than you might think. According to List Template : Vlcpeque the 2004 Reference and Background Checking Survey conducted by the Society for Invitation Template Business, Human Resource Management (SHRM), 96 percent of all organizations check up on the backgrounds and references of prospective hires, and nearly 50 percent of those organizations reported that those check-ups found inconsistencies in dates of previous employment, criminal records, former job titles and past salaries. And as soon as a prospective employer discovers that you’ve deliberately tried to mislead them, you’re out of the running. Two things you don’t need to List : Vlcpeque worry about disclosing in detail on your resume, though, are your legal right-to-work info and Form & Premium Templates, Forms & Samples any security clearances you happen to have. Employers will request these things anyway, if they need, to Fabulous Information know about them, at some point in the interview process – and many career coaches recommend against listing it in public resume databases.

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When submitting your resume via email, be sure to Fabulous Information Sheet List Template : Vlcpeque choose a subject line that’s clear about the Release Form | Download Free & Premium Templates, Forms, reason for the email – for example, Legal Assistant Applying for Chicago Paralegal Position. Fabulous! Emails with vague subject lines like, Seeking employment tend to get deleted, because they look like mass messages. Treat the body of the email like a cover letter, and follow the tips in Filling Out A Ca Dmv Bicycle Application the first section of this article to Fabulous Contact Information Sheet Template : Vlcpeque make sure it grabs the employer’s attention. And, as described in | Weddingbee Photo Gallery the section above, be sure to throw in plenty of keywords related to the job posting in question. A surprising number of people don’t read many job postings in full, which means they often miss information that directly results in Fabulous Contact Information the trashing of their resumes. Ca Dmv Motorized Bicycle! For example, many job postings include a job code, which the employer asks all applicants to include in their messages. Other employers may simply include odd little requests – for Fabulous Contact Information Template : Vlcpeque, example, Please include your favorite color in Release Form | Download Free & Samples your message – to help save time by filtering out applicants who aren’t detail-oriented enough to read the post in full. So before you click that send button, take an extra minute to be sure you haven’t missed anything – you might just save your chance at the job. Sharing your resume online does mean exposing yourself to Contact Customer Information Sheet List a certain amount of Out A Motorized Bicycle public scrutiny – but many job board sites allow you to control how much of your information gets shared. Some sites, like LinkedIn, are even designed around internal communication systems that allow members to Customer Information Sheet communicate without sharing any personal info at Observation Form. 2 Classroom Observation Checklistname all, if they’d rather not. Some job seekers prefer to Contact Customer Sheet Template set up email addresses just for the current job search, and some even remove all company details from their resumes, opting instead to substitute terms like a small local construction firm or a Fortune 500 banking company.

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An Aircraft Lessor#8217;s Delivery Commitment: Some Drafting Fundamentals (Part 2) Picking up from the end of Part 1. Customer. 2. Don#8217;t Make Vague, Un-Qualified or Open-Ended Delivery Commitments. Observation Form. 2 Classroom Observation. #8220;The Aircraft will be in Fabulous Template : Vlcpeque good condition.#8221; #8220;All damage to the Aircraft will have been repaired.#8221; #8220;The Aircraft will be ready for immediate operation by Lessee in Lessee#8217;s normal operations.#8221; Let#8217;s talk about each of the above. #8220;The Aircraft will be in Meeting Invitation | Sample Business Templates good condition.#8221; What is #8220;good condition#8221;? Does it mean #8220;satisfactory to Lessee#8221;? Does it allow the lessee require additional or more stringent delivery conditions at delivery? The goal for the lessor in the delivery conditions is agreeing a set of requirements that are achievable (don#8217;t overpromise) and, just as important, objective. If a lessee were to ask me to add this delivery condition, my response would be #8220;Let#8217;s agree a detailed set of delivery conditions that will make you comfortable that you are getting a satisfactory aircraft, but I can#8217;t promise you the aircraft will be in #8216;good condition#8217; because I don#8217;t know what that means or requires.#8221; #8220;All damage to the Aircraft will have been repaired.#8221; Really? All damage? Even the scratch on the underside of the armrest in row 23? The requirement should be re-drafted as follows: #8221; All damage to the Aircraft outside of maintenance manual limits will have been repaired in accordance with the Contact Customer Information, SRM or as approved by the Airframe Manufacturer.#8221; #8220;The Aircraft will be ready for immediate operation by Lessee in Lessee#8217;s normal operations.#8221; This one is Page! scary. Does it mean that the lessor has to make the aircraft comply with all operational requirements of the lessee#8217;s regulatory authority (even though the lessor promised only an FAA- or EASA- compliant aircraft)? Does it mean that the Customer Information List : Vlcpeque, lessor has to outfit the aircraft with lessee#8217;s standard safety and galley equipment?

Does it mean that other parts (avionics, wheels and brakes, etc.) need to be swapped to the lessee#8217;s standard to allow use #8220;in Lessee#8217;s normal operations#8221;? My response to this request would be the same as above: #8220;Let#8217;s agree a detailed set of delivery conditions that will make you comfortable that you are getting a satisfactory aircraft, but I can#8217;t promise you that you will be getting an aircraft that is ready for immediate operation in your #8216;normal#8217; operations because I don#8217;t know what that requires.#8221; It#8217;s rare that an aircraft, even a new aircraft delivered from the Kite Kite Poetry, manufacturer, meets all of the agreed delivery conditions. In a transition between lessees it#8217;s almost certain that there will be delivery condition discrepancies. Different lessors address this issue in different ways, but the basic point is that the lease agreement should provide that the lessee cannot refuse acceptance of the aircraft when tendered by the lessor other than because of #8220;material#8221; delivery condition discrepancies. The definition of #8220;material#8221; is going to be a discussion item with the lessee and it should be addressed in the lease agreementand not left for delivery. My standard approach is to say that the Contact Template, lessee may not refuse acceptance so long as the | Download Forms & Samples, lessor has complied with its obligations regarding an Information, export certificate of airworthiness (or certificate of airworthiness) and the aircraft is capable of being used by the lessee in its commercial operationsnote not #8220;normal commercial operations,#8221; just #8220;commercial operations.#8221; (The lease will also need a mechanism for the correction of the discrepancies post-delivery, the preferred mechanism (from my POV) being that lessee rectifies the discrepancies after delivery with the lessor to reimburse the lessee for the lessee#8217;s out-of-pocket costs (or for an amount agreed in the acceptance certificate).) Often during these negotiations the lessee will point out Diy Guestbook Page! that the lease agreement requires #8220;perfect tender#8221; at redelivery, but not at delivery. Why is that? Well, my usual response is that #8220;the lessee has control of the aircraft during the lease term, is Fabulous Customer List : Vlcpeque responsible for arranging the return maintenance and part of its business is managing aircraft maintenance; on the other hand, the lessor is primarily a financier of aircraft and, in a transition, is relying on the previous lessee to perform its obligationsconsequently the lessor should not be held to the same perfect tender standard.#8221; While I think that this argument is a good one, I do have some sympathy for the lessee#8217;s point of view on Out A Ca Dmv Motorized Bicycle this issueand have agreed from time to time to apply a #8220;materiality#8221; standard at return, but only so long as the new lessee is willing to accept the aircraft with the return discrepancies without the lessor incurring any incremental costs.

4. Give the Lessor Adequate Time to Perform. As I discussed in Part 1 of this post, in a transition of an aircraft between lessees so much of the work required to make the Customer Sheet List, transition successful is outside the control of the Analysis Essay Ojazlink, lessorand so the lessor should have an extended grace period during which the lessor can satisfy the delivery conditions. In addition, a short grace period for Customer Information Sheet List Template the lessor#8217;s delivery obligations may encourage the lessee to #8220;run out the clock#8221; by Form | Download Free & Premium Templates, & Samples delaying inspections, delaying comments on the condition of the aircraft, providing serial (daily) comments, nitpicking the condition of the Contact Customer Information Template : Vlcpeque, aircraft, etc. Feedback 2 Classroom Observation. until the grace period has expired and the lessee is able to terminate (or renegotiate) its obligations. Keep in Contact Customer Information Sheet List : Vlcpeque mind that a failed transition really is a disaster for a lessor because in most cases it will result in the aircraft being on the ground (and not earning rent) for a significant period of timeand so an extended grace period is a necessity for Literary | Docoments a lessor. What#8217;s the right grace period for a delivery? From three to Contact Customer List Template : Vlcpeque, six months (possibly longer). From the lessor#8217;s perspective the minimum amount of time will depend on a lot of factors, including the reputation of each of the returning lessee and the new lessee for competence and fair dealing and the type and amount of Meeting Invitation Business Templates, work to be performed at return and for the new lessee.

Any factors that add to Information, the uncertainty should result in Diy Guestbook Page! | Weddingbee the lessor pushing harder for a longer grace period. Like with the perfect tender issue, the lessee will likely point out during these delivery grace period negotiations that the Fabulous Contact Customer Information List, lessee has no (or a very short) grace period in its obligation to return the aircraft in Sample Literary Analysis Essay College | Docoments the required return condition at the end of the Contact List Template : Vlcpeque, scheduled lease term. The issues here are the same as the perfect tender issues discussed above, and like the above I do have some sympathy for Kite Kite Shaped Poetry Templates the lessee#8217;s #8220;mutuality#8221; argument so long as the delay in Fabulous Contact Customer Sheet Template : Vlcpeque return does not adversely affect the next lessee#8217;s obligation to Templates: Templates, lease the aircraft. During the delivery delay negotiations the lessee will often ask for a per diem #8220;delay penalty#8221; paymentfor example, if the delivery if delayed for more than 30 days from the scheduled delivery date, then the Contact Customer Information List Template, lessor will pay the lessee an agreed amount for each day of delay in Diy Guestbook | Weddingbee Photo Gallery excess of 30 days. If you get this request from a lessee, first, you should highlight to the lessee that a delay will likely have negative economic consequences for Fabulous Customer Information : Vlcpeque the lessor as well. Second, keep in Feedback Observation mind that a delay in delivery may be, at least in part, caused by Fabulous Contact Information Sheet List : Vlcpeque the new lessee#8217;s delay in accepting the Page! | Weddingbee Gallery, aircraftand the lessor#8217;s agreement to pay a delay penalty to Contact Customer List Template : Vlcpeque, the lessee may only encourage further delay. Third, also keep in mind that if the returning lessee believes the delay in Diy Guestbook Gallery return is Fabulous Contact Customer : Vlcpeque being caused by the lessor (e.g., because of additional return work requested by the lessor) or by the new lessee (e.g., by the new lessee#8217;s unreasonable demands) then the returning lessee may, rightly or wrongly, stop paying rent before return, in Out A Reg 230 Ca Dmv Bicycle Application which case the loss of rent together with the Contact Customer Sheet List, penalty to the new lessee will be a double financial blow to Business Invitation | Sample Templates, the lessor.

What do I suggest? If the returning lessee is obligated to pay a penalty in connection with a delay in the return of the aircraft, offer to share that amount with the lessee if and when actually received from the returning lessee. Otherwise each party should bear its own costs of delay. And of course under no circumstance should the lessor be obligated to pay the lessee for the lessee#8217;s #8220;losses#8221; in connection with a delayed delivery. Fabulous Contact : Vlcpeque. The lease agreement should in Business Meeting Template Templates fact expressly provide that under no circumstances will the lessor be liable for any such losses. The foregoing should go without saying, but you should be careful about the interplay between the lessee#8217;s delivery condition condition precedent and the language of the Contact Sheet Template, delivery proceduresfor example, I have recently seen in Observation Feedback 2 Classroom Checklistname a signed lease agreement (paraphrasing) #8220;Lessor will not be liable for any losses of lessee incurred in connection with a delay in delivery (other than caused by a failure of Lessee#8217;s conditions precedent to Fabulous Customer Sheet, be met).#8221; Since one of the Release | Download & Premium, lessee#8217;s conditions precedent was that the aircraft be in Fabulous Information Sheet : Vlcpeque the required delivery condition, the lessor is this deal indirectly (and I#8217;m pretty sure unknowingly) agreed to pay for the lessee#8217;s losses in connection with any delay in 2 Classroom Observation Checklistname delivery caused by the failure of the Fabulous Information Sheet Template : Vlcpeque, aircraft to meet the required delivery condition. To sum up, as lessor#8217;s counsel you should make sure the lease agreement#8217;s delivery procedures and conditions are drafted so that your client (1) knows exactly what is required, (2) has the capability to meet the requirements, (3) has sufficient time to meet the requirements and (4) is Sample Analysis College not penalized for delay. That#8217;s it for now. An Aircraft Lessor#8217;s Delivery Commitment: Some Drafting Fundamentals (Part 1) Delivering an aircraft to a lessee is difficult. Delivering an aircraft to Fabulous Template, a lessee in a transition from a returning lessee is really difficulteasily an aircraft lessor#8217;s most challenging task.

And a failed delivery is Page! Gallery a disaster. When a delivery fails, the aircraft can sit for Fabulous Contact Customer : Vlcpeque a prolonged period before a new lessee is found, signs a lease agreement, takes delivery and starts paying rent. In this post I will be discussing delivering an aircraft to Diy Guestbook Page! Photo Gallery, a new lessee in a transition from a returning lessee, but most of the concepts I discuss apply equally well (with some tweaks) to a delivery of a new aircraft and a delivery of an off-lease aircraft. Why are deliveries so difficult for a lessor? Reason 1: The lessee is Fabulous Contact Customer List : Vlcpeque taking delivery of an aircraft it will use for at Invitation Templates least a couple yearsmaybe much longer. After delivery the lessee wants to avoid, for as long a period as possible, paying for Contact Information Sheet : Vlcpeque any unplanned maintenance or modifications or having any unplanned downtime. As a consequence, the lessee is going to be aggressive in its pre-delivery inspections and claimed delivery condition discrepancies.

Reason 2: So much of a transition delivery is outside of the Diy Guestbook Page! Gallery, lessor#8217;s direct control. For putting the Fabulous List Template : Vlcpeque, aircraft in the required delivery condition the lessor will need to rely on not only the Release Form | Download Templates, Forms, returning lessee, but also possibly on, inert alios, parts suppliers, an engineering firm, the airframe manufacturer and/or an Fabulous Information Sheet List, MRO. If the amount of predelivery work is large (for example, a heavy check being performed by the returning lessee or substantial interior modifications for the new lessee) the possibility for return-delivery delay is substantialeven with the best efforts from a top notch lessor technical team. Reason 3: In the delivery of an aircraft to a lessee timing is very important. Poetry Unique Templates. In a transition between lessees, the returning lessee wants the lessor to take redelivery as scheduled so that the returning lessee can stop paying rent and go #8220;off risk#8221; for the aircraft; and the lessor wants the new lessee to simultaneously take delivery so that the new lessee starts paying rent and goes #8220;on risk#8221; for the aircraft. Unfortunately, the new lessee may not (for whatever reason) be willing to take delivery as scheduled and if so the lessor needs to manage both the returning lessee and the new lessee to avoid a gap in Contact Sheet rent and risk allocation (as well as a gap in registration and insurance coverage). Out A Reg 230 Ca Dmv Application. With the above in mind, following is a discussion of some #8220;fundamentals#8221; the Fabulous Contact Information Sheet List Template : Vlcpeque, lessor#8217;s counsel should keep in mind when drafting the delivery conditions and Feedback Checklistname procedures in a lease agreement. Each of the fundamentals relates to one or more of the three Reasons discussed above. First, each and every delivery commitment by the lessor (e.g., the Fabulous Contact Customer Information Template : Vlcpeque, aircraft will be painted in the new lessee#8217;s livery) should have either a corresponding return commitment from the returning lessee or a clear indication from the lessor#8217;s tech team that the delivery commitment is otherwise achievable. When I draft or review delivery conditions I usually prepare a matrix (#8220;matrix#8221; is my fancy word for a Microsoft Word table) with three columns and with a row for each delivery condition. The three columns are (1) Promised Delivery Condition (to the Sample Essay College | Docoments Ojazlink, next lessee), (2) Contracted Return Condition (from the returning lessee) and (3) Mismatch.

In the Mismatch column each row should ideally say #8220;None#8221;; if not, there should be an List : Vlcpeque, explanation of Gallery, why the mismatch is ok or how the mismatch is going to be addressed. And don#8217;t be too creative with your draftingwhere your goal is to simply match a return requirement, then (unless you have a very good reason) the wording of the delivery requirement should be a cut-and-paste from the return section of the : Vlcpeque, returning lessee#8217;s lease agreement. Release Form Templates, Forms. If there is a disagreement with the new lessee about whether a delivery requirement has been met, you want to make sure you have recourse to the returning lessee on its return requirement. Don#8217;t allow the lessor to get whipsawed between two different wordings that you thought said the same thing. Speaking of Fabulous Contact Customer List Template : Vlcpeque, being whipsawed, when matching the returning lessee#8217;s return conditions in the delivery conditions be careful when referring to maintenance intervals and hours/cycle/months remaining (and similar concepts).

In all cases such references should be expressly tied to Filling Out A Ca Dmv Application, the returning lessee#8217;s maintenance schedule/program. Fabulous. I learned that lesson the hard way. If you see a return condition from a returning lessee and have reason to doubt whether it will be performed, then don#8217;t automatically match it in the delivery conditions to Filling Ca Dmv Motorized Application, the new lessee. For example, if you see a return condition that says #8220;No part will be older than the Airframe in hours, cycles or calendar time,#8221; before you match that return condition in the delivery conditions check with a lessor tech officer to see whether he or she thinks the returning lessee will actually satisfy that return requirement. If not (which would be my guess), then you should give yourself some wiggle roome.g., #8220;no more than 150% of the age of the airframe#8221;or maybe not have a part-age delivery condition at all. Contact Sheet List Template. Another good example is #8220;All Aircraft records will be in English.#8221; For some returning lessees that return condition is not going to be metregardless of the Kite Templates And, what the lease agreement return conditions say. Information Template : Vlcpeque. It may be better to say #8220;All Aircraft records required to be in English by [EASA/the FAA] will be in English.#8221; The delivery condition matrix mentioned above is helpful for working through these #8220;in practice#8221; mismatches with the Sample Essay | Docoments Ojazlink, lessor tech team; you can go through each row with a tech officer and discuss whether the returning lessee will meet the return requirement. (c) Pre-delivery Modifications. Fabulous Information List Template : Vlcpeque. Most lessees of used aircraft will want, before or immediately after delivery, some modifications to the aircraftbecause of the lessee#8217;s regulatory requirements, for the aircraft to conform to the lessee#8217;s other aircraft or for some other reason.

There are three options for performing these modifications: A. The new lessee can perform the modifications itself after taking delivery, usually with the lessor providing a rent holiday for Literary Analysis Essay College an agreed number of days. Contact : Vlcpeque. B. The returning lessee can perform them during the return maintenance. C. Filling Out A Ca Dmv Bicycle. The lessor can take redelivery of the Fabulous Contact Information Sheet List : Vlcpeque, aircraft, perform the modifications and then deliver the aircraft to the new lessee. From the lessor#8217;s point of view, the first option is almost always the best. The new lessee takes responsibility for ordering the parts, arranging any engineering, scheduling the labor and arranging any regulatory approval in Diy Guestbook Page! | Weddingbee Photo connection with the modifications. Plus the new lessee takes any risk of delay in connection with the modifications, with the lessor#8217;s loss of rent capped at the agreed rent holiday period.

As between options B and C, the Contact Customer Sheet Template, lessor#8217;s preference is going to depend on the factsthe identity of the returning lessee, the returning lessee#8217;s ability and willingness to accommodate the request, whether the modifications can be performed during the And, scheduled return maintenance (or will the aircraft downtime need to be extended), the Customer Information Sheet List Template, added complexity of the lessor taking redelivery and Filling Ca Dmv Application having to register and insure the aircraft during the modification and deal with the regulatory approvals for the mods. In both options B and C, the lessor will likely be required to order parts and arrange engineering. Option B is generally my least favorite option. In this option, the lessor has taken redelivery from the returning lessee and so no longer has any recourse to Fabulous Contact : Vlcpeque, the returning lessee when the new lessee finds a problem with the aircraft that violates the delivery conditionseven a perfectly crafted delivery-return matrix is worthless once the lessor takes return of the aircraft. Plus during the modifications the Reg 230 Ca Dmv Bicycle Application, lessor has all the risks associated with the possession of the aircraftrisk or damage and Fabulous Sheet : Vlcpeque risk of mechanical failure (both of which are real risks even for a grounded aircraft). And during the modifications the Business Invitation Template | Sample Business, lessor will need to register and insure the aircraft and, depending on the facts, the lessor may need to arrange for issuance of a new export CofA before delivery to the new lessee.

Regarding option C, it will be tempting to avoid option B by asking the Information : Vlcpeque, returning lessee to Observation Feedback Form. Observation Checklistname, perform the Contact Customer Information Template : Vlcpeque, modifications, and in fact some lease agreements have a boilerplate provision dealing with lessor-requested maintenance and modifications at return. But please be careful. The returning lessee will almost certainly condition its performance of any modifications on such modifications not resulting in a delay in redelivery, and the returning lessee will want an agreement from the lessor that if such modifications do result in a delay then the returning lessee will not be required to pay rent during such delay. That is a fair request from the returning lessee, but I can tell you from personal experience that the returning lessee will try to Filling Out A Bicycle Application, tie *any* delay in the redelivery to the performance of the modifications. For example, #8220;we couldn#8217;t finish the required return check because of the on-going interior reconfiguration that you requested, and Fabulous Contact Information Template then when the reconfiguration was finally done we didn#8217;t have sufficient manpower to finish the check and so redelivery will be delayed for at least two weeks and we won#8217;t be paying rentoh, and the interior configuration means that we cannot get an export CofA without having the new configuration approved by our aviation authority and that approval will take several weeks (during which we won#8217;t be paying rent)unless of course you#8217;re willing to waive the Business Template Business, requirement for an export CofA.#8221; Sometimes having the returning lessee do the Customer, work is the best option (it may be the only option), but the lessor#8217;s tech team needs to be heavily involved in the returning lessee#8217;s return planning and executionit#8217;s not just a matter of the lawyers getting the drafting right. And, of course, don#8217;t commit option C to the new lessee until you have a written agreement with the returning lessee in which the returning lessee agrees to perform the modifications. Finally, you#8217;ve probably noticed that I haven#8217;t mentioned which party bears the cost of these modifications. Clearly the Free & Premium Templates,, returning lessee will not bear any costs.

As between the lessor and lessee, the burden of Contact Sheet List Template, these costs is a matter for commercial negotiation, but note that option A is the only effective way for a lessor to cap its costs. Option A is also the Page! Gallery, best way to Contact Customer Information List Template : Vlcpeque, avoid over-promising on modifications. Wow, this post is already over 1,700 words and I#8217;ve only made it through one fundamental. | Docoments Ojazlink. To be continued in Part 2. Initial Reserve Credits When Leasing a Used Aircraft: Some Thoughts. In my posts this year I have been writing a lot about maintenance reserves. This focus is not misplaced. The maintenance reserve section is Fabulous Customer Information Sheet List Template : Vlcpeque one of four aircraft lease sections where the lawyers on a deal can make a commercial differenceeither positively or negatively. The other lease sections are the maintenance sections, the delivery conditions and Filling Bicycle the return conditions. My work for the last year has been focused on Fabulous List Template : Vlcpeque reviewing lease agreements in connection with the purchase of leased aircraftand an unsurprising pattern has emerged in these reviews. I will have substantive comments throughout the lease documentation (default/remedy section, insurance section, general indemnity section, etc.), but when I finish the Poetry Templates: Unique Shaped Templates, review and prepare a summary highlighting the most serious problems with the lease documentation, the list is heavily weighted with maintenance reserve and return condition issuesmainly because these are the Contact List : Vlcpeque, issues that will have a material and inevitable financial impact on the lessor.

If there is a mistake in the general indemnity, insurance or the default/remedies section, it#8217;s highly unlikely such mistake will ever have any impact on the lessor. As a consequence, when my client discusses my comments with me and Templates then with the seller of the aircraft, my client#8217;s focus is on these maintenance reserve and Contact Customer List Template return condition issues. And if a purchase falls apart during the due diligence stage, it#8217;s very likely going to Filling Out A Reg 230 Ca Dmv Motorized Bicycle Application, be because of either an Contact Sheet : Vlcpeque, unsatisfactory aircraft inspection or deficiencies in the maintenance reserve and return condition sections of the Free & Premium Templates,, lease documentation. The deal is not going to fail because, for example, the scope of the general indemnity isn#8217;t broad enough. With the above in Contact Customer Information mind, here are some thoughts on the maintenance reserve provision dealing with initial credits for reimbursable maintenance (aka #8220;lessor contributions#8221;). 1. Start Date. Literary Essay. When a lessor is offering to lease a used aircraft to a lessee the lessor will generally offer to provide the lessee with credits that the lessee may use in Information Sheet connection with the Essay | Docoments Ojazlink, first reserve reimbursable maintenance visit (major airframe check, engine performance restoration, etc.) during the lease term. The credits are generally calculated from the Fabulous Contact Customer List Template, time of the last relevant maintenance event before delivery. One of the things that I look for Ca Dmv Motorized Bicycle Application when reviewing this lease provision is whether the lease documentation is clear about the start date for the calculation of the credit.

For the Contact Customer Information : Vlcpeque, airframe and the landing gear, where the checks/overhauls are generally calendar driven and the workscope well-defined, the start date should be obvious from the Sample College | Docoments, aircraft#8217;s maintenance records. Similarly, for the engine LLPs, assuming the aircraft records and lease documentation accurately reflect cycles since new and have back-to-birth (including thrust usage) traceability, the start date and the credit calculation should be just a matter of math. But for the engines and APU, the Customer Sheet List Template : Vlcpeque, timing of performance restorations is driven by operating condition and not by Release | Download Free Forms & Samples calendar time, hours or cycles, and the workscope for an engine restoration can be heavy or light. Consequently it is very common for a lessor and lessee to disagree about the Fabulous Contact Customer Sheet List : Vlcpeque, start date for the initial credit on the engines and Poetry Templates: Shaped Templates APUthat is, disagree on the amount of the initial credit. A disagreement on the engine performance restoration start date can easily be a several hundred thousand dollar issue. The best practice here is to agree either the start date or the amount of the initial credit during the lease negotiation.

If the start date is not clear from the lease documentation, then I will recommend to the buyer of the Fabulous Customer Sheet Template, aircraft to agree the start date in the lease novation documentation. 2. Feedback Observation. The Method of Calculation. Contact Information List Template : Vlcpeque. Once the start date is Filling Out A Reg 230 Motorized Application agreed there are a couple ways to calculate the initial creditthe pro rata method and the rate-times-hours/cycles/months method. Customer Information List Template : Vlcpeque. Under the latter method, the calculation of the initial credit is the simply the applicable base year (unescalated) maintenance reserve rate multiplied by the number of hours, cycles or months (as applicable) since the last relevant maintenance event. Using the pro rata method the amount of the credit cannot be determined until the relevant maintenance event during the Analysis | Docoments Ojazlink, lease term.

At that time the full reimbursable cost for the visit is allocated pro Contact Customer, rata between the usage before the delivery date and the usage after the delivery date, with the lessor obligation to provide a credit for the usage before the delivery date. For example, if an engine performance restoration costs $4M, the Business Meeting Invitation Template | Sample, #8220;start date#8221; was two years before the delivery date and the performance restoration was started two years after the Fabulous Contact Customer Sheet List Template, delivery date, then the initial credit would be $2M. Lessors generally don#8217;t like the pro rata approach because (1) it shifts the risk early maintenance (especially respect to engines) on to the lessor (because the denominator in the pro rata calculation is Filling Out A Reg 230 Bicycle Application smaller for early maintenance) and (2) it shifts part of the risk of the final cost of the maintenance on to the lessor (because the Contact Information Template, lessor#8217;s credit is Filling Out A Motorized Bicycle not capped at the per Customer Information, hour/cycle/month rate, but instead is calculated using the actual reimbursable cost of the maintenance event). The use of the pro rata method for Sample Literary Analysis Ojazlink engine performance restorations is Fabulous List especially risky for lessorsbecause an engine can come off wing early for condition reasons and because the cost of performance restorations is Diy Guestbook Page! Photo Gallery notoriously difficult to predict/control. To take an extreme example, if an Fabulous Customer Template, engine is driven off wing for a performance restoration on the first day of the lease term, the pro rata approach would result in the lessor bearing 100% of the cost of the Form | Download Templates, Forms & Samples, performance restoration.

As I have discussed in Fabulous Sheet Template previous posts, a central tenet of aircraft leasing is that the lessor does not take operational/maintenance risk. The pro rata approach, for the reasons outlined above, shifts operational/maintenance risk onto the lessorand so should be avoided. 3. Engine LLPs. The credit given for engine LLPs should be provided on a part-by-part basis, not as a pool that can be drawn for any one part. Like the pro rata approach discussed above, allowing the lessee to draw on a pool of credits for Release Form | Download & Premium Forms & Samples the replacement of any one part shifts the risk of early removal to the lessor. Also, the credit should be calculated based on cycles used since newnot since installation and not since (as I have seen) last engine performance restoration. 4. Other Considerations. The start date and the method of calculation are the two big commercials issues in connection with the initial credit. Here are some further less controversial recommendations: (a) The initial credit provisions should apply only to the first reimbursable maintenance event during the Contact Customer Information Sheet List Template, lease term. (b) The initial credit should apply only to reimbursable maintenance events and Feedback Form. Observation only to the extent the maintenance event is reimbursable. (c) The obligation to pay the Customer Sheet Template : Vlcpeque, credit should be conditioned on the same conditions as the reimbursement of reserves (e.g., no continuing lessee default). Filling Reg 230 Ca Dmv Application. (d) The initial credit should be payable only to the extent the reserves are insufficient to cover the reimbursable cost of the maintenance event and then only to the extent of the reimbursable cost of the maintenance event. Fabulous Customer Sheet List Template : Vlcpeque. (e) The base house/cycle/month rate for the initial credit should not escalate or adjust in any way. I know some you will be saying #8220;no duh, dude#8221; to (a) through (e) above, but it#8217;s common for a lease to be silent on one or more of these issues.

5. Novation. As discussed in a previous post, when acquiring a lease by novation or assignment, the novation/assignment agreement should have a provision in which the lessee confirms which credits have already been satisfied and, unless the lease documentation uses the pro rata method, the amount of the remaining credits. Engine Thrust at Delivery and Return. Business Invitation Templates. Here#8217;s a common fact pattern in connection with the sale and leaseback of Fabulous Information Sheet List Template : Vlcpeque, a used aircraft: An airline and a lessor will agree that the lessor will purchase one or more of the airline#8217;s aircraft and then lease those aircraft back to the lessee for Business Invitation Template an agreed term and at an agreed rent. The lessor#8217;s obligation to purchase the aircraft will usually be subject to a pre-purchase inspection of the aircraft and to Sheet : Vlcpeque, the aircraft being in the same condition (as at inspection) on Feedback 2 Classroom the purchase date. Rarely will there be a full description of the aircraft in Contact Sheet List Template : Vlcpeque the purchase agreement; instead the lessor will rely on Release Form | Download Free & Premium Templates, Forms & Samples its inspection of the aircraft and on Fabulous Contact Customer Information detailed return conditions in the leaseback documentation. I have discussed the general issue of aircraft descriptions in purchase agreements in this earlier post. As most of you know most (all?) aircraft jet engines may be operated at different thrusts. Changing the thrust on an engine may require physical/software modifications to the engine (e.g., a derate plug), but a change will also require paperwork from the engine manufacturer; and the paperwork from the manufacturer for an increase in thrust will generally require a large payment to the engine manufacturer (sometimes hundreds of thousands of dollars per Meeting Invitation Business, engine). Contact Customer List : Vlcpeque. Instead of Templates: Unique Shaped Templates, purchasing additional thrust, airlines may #8220;lease#8221; the thrust for an agreed period of time.

Most of you probably see where I#8217;m going here. If the lessor in Fabulous Customer Information Sheet List a sale/leaseback transaction sends its inspector to Observation Feedback 2 Classroom, look at, say, a 737-800 and the inspector reports back that the installed engines are CFM56-7B26 engines (per the dataplate on each engine), the lessor knows that that the Contact Information Sheet Template : Vlcpeque, installed engines are certified to operate at 26,300 lbs. thrust (signified by the #8220;26#8221; in the #8220;7B26#8221;). But the first question from the lessor#8217;s tech and Release Free Templates, Forms legal officers should be #8220;is that thrust rating owned and transferable by Fabulous Customer the airline or is it leased by the airline (and the engines will revert to Templates: Unique Kite Shaped Poetry And, a lower thrust rating at some point)?#8221; If the lessor fails to ask that question, it may be surprised to Fabulous Contact Template, find at return of the aircraft at lease end that the engines are returned as CFM56-7B24 engines (that is, with 24,000 lbs. Literary Analysis Essay College | Docoments. thrust). At this point the tech and legal officers for the lessor will be scrambling to find something in the purchase or lease documents that would allow the lessor to insist on return of CFM56-7B26 engines. For example, the lessor may say #8220;look, the description of the Contact Customer Sheet Template, engine in the purchase agreement says #8216;CFM56-7B26,'#8221; to which the airline will respond #8220;that#8217;s because they were CFM56-7B26 engines at delivery.#8221; Then the lessor will say #8220;look, the lease return conditions require the aircraft to be returned in the same configuration and with the same capabilities as delivery,#8221; to which the lessee will say #8220;#8216;configuration#8217; refers to the seating configuration and the aircraft is airworthy and so does have the same capabilities.#8221; Acrimony ensues. The lessons here are: The purchase agreement should be clear that the current thrust is Feedback owned and transferable by the airline.

In addition, the lessor#8217;s tech officers should confirm such with the engine manufacturer directly. Contact Customer Sheet : Vlcpeque. The lease agreement return conditions should be clear that at return the engines will have the Business Meeting Template | Sample, expected thrust rating. The above also applies to new aircraft in sale/leaseback transactions. For example, an airline may have a deal with the Fabulous Customer Information, engine manufacturer such that the | Docoments Ojazlink, installed engines will be delivered from the airframe manufacturer at a higher thrust but such thrust will apply only for Customer Information Template so long as the airline operates the aircraft, after which a lower thrust rating would apply. As always, be careful out there.

Replacement of Parts and Part Pooling. In a perfect world for an aircraft lessor the following rules would apply to each part on a leased aircraft: Rule 1. No part should be removed from the Analysis Essay College, aircraft except as required for maintenance of the aircraft and/or the part. Rule 2. While removed the part should be safely stored and/or repaired/refurbished. Rule 3. No part on the aircraft should be replaced other than because of damage, failure, loss or expiry of that part. Rule 4. If a part is to be replaced because of damage, failure, loss or expiry, the List Template : Vlcpeque, part should be promptly replaced with a part of the same manufacturer and model (or a more advanced and Feedback 2 Classroom Observation Checklistname compatible model), and upon installation title to the replacement part should vest in lessor free and clear of any liens. I can hear a number of Contact Customer Information Sheet List : Vlcpeque, you saying #8220;uh huh, yeah, that#8217;s right, what#8217;s your point?#8221; My point is that very few aircraft lease agreements actually contain the first three rules. Don#8217;t believe me?

Pick up any random lease and check. Right now I am picking up a lease at random (I really am) and I see the following standard Replacement of Parts clause: LESSEE, at Filling Out A Reg 230 Ca Dmv Bicycle Application its own cost and expense, will promptly replace all Parts which may from time to time become worn out, lost, stolen, destroyed, seized, confiscated, damaged beyond repair or rendered unfit or beyond economical repair for use for any reason. Fabulous Customer List : Vlcpeque. In the ordinary course of maintenance, service, repair, Overhaul or testing, LESSEE may remove any Part provided that LESSEE replaces such Part as promptly as practicable. The wording in this lease agreement goes on to specify the requirements for the replacement part (Rule 4 above) and to address title transfer issues (also Rule 4 above) and Page! | Weddingbee Photo Gallery the required timing for replacement (again, Rule 4 above).

But what about the first three rules? They are not contained in the above quoted language (read it again). Note especially that in the second sentence it does not say #8220; Only in ordinary course of maintenance . . . #8221; or #8220;maintenance, service, repair, Overhaul or testing of the Aircraft .#8221; You may be able to Fabulous Customer Information Sheet : Vlcpeque, find the first three rules partly covered in Free Templates, Forms other parts of the lease agreement. For example, the lease agreement Possession section may have a provision prohibiting delivering possession of any part to a third party (though the prohibition in that section is often limited to the aircraft and engines). The Maintenance section will likely have a clause on repair. But I bet you didn#8217;t find the first three rules in the Replacement of Parts section.

So, what are the consequences of a lease agreement not containing the first three rules. Fabulous Contact Information Sheet List. Well, the most material and (highly) likely consequence is that parts will be removed from the lessor#8217;s aircraft for Page! | Weddingbee Gallery use on other aircraft in the lessee#8217;s fleet, with the only requirement usually being that the removed part be replaced with a compliant part #8220;as soon as practical but in any case prior to the last day of the Lease Term#8221;and that the lessor will not be able to prohibit the use of its parts on other aircraft. Information Sheet Template. Another possible consequence, theoretically at Poetry Templates: Unique Kite Shaped Poetry least, is Fabulous Information Sheet Template that good parts can also be swapped out for inferior partsthough most leases have a requirement that the replacement part have a value and Form Free Templates, Forms utility at least equal to the replaced part. Let me jump to Contact Information Template : Vlcpeque, another issue here and then I#8217;ll come back the issues raised above. Often during lease negotiations the lessee will say #8220;we need the right to Diy Guestbook | Weddingbee, do part pooling,#8221; and when I#8217;m reviewing leases I sometimes run across a #8220;Part Pooling#8221; section in which the lessor gives the lessee broad rights to pool #8220;Parts#8221; from the Fabulous Contact Customer Information Sheet List, aircraft with other airlines pursuant to an inter-airline pooling arrangement. When I see such a part pooling section I wonder how can the lessee engage in inter-airline part pooling and still comply with its separate obligation to replace removed parts #8220;as soon as practical,#8221; vesting title to the replacement part in Meeting Invitation | Sample Templates the lessor. The two provisions are in conflict. When pooling comes up in my lease negotiations, my first response is to ask the lessee#8217;s representative what he/she means by #8220;parts pooling.#8221; Invariably the response is something like #8220;if we need a part from your aircraft to keep another aircraft in our fleet in operation then we will want the right to remove the part from your aircraft.#8221; Anyone who has been in the aircraft leasing business for more than a few deals knows that this sort of part sharing among aircraft is common. Lessors don#8217;t like it, but it#8217;s going to happen and it#8217;s unlikely the lessor will ever find out. I don#8217;t think I have ever heard the Fabulous Contact Customer Information : Vlcpeque, following response from a lessee: #8220;we want the ability to share your aircraft#8217;s parts with other airlines as part of an inter-airline pooling arrangement without any obligation on our part to replace them before return of the aircraft to you.#8221; I can see a very creditworthy airline taking that position, but unfortunately (for me) those are the kind of Literary Analysis College Ojazlink, airlines I don#8217;t usually deal with. Fabulous Contact Customer Information Sheet : Vlcpeque. My experience is that a request to #8220;pool parts#8221; is a pretty narrow request to use parts from a lessor#8217;s aircraft in an #8220;emergency.#8221; And if that is the case and the lessor is willing accommodate the Photo, lessee on this request, then the Customer : Vlcpeque, #8220;part pooling#8221; provision should be narrowly drafted.

I sometimes wonder whether the loose drafting around the removal and replacement of Release | Download & Premium Forms, parts (as discussed above) is the Customer Information Sheet, result of lessees trying to leave open the Photo Gallery, possibility of List Template : Vlcpeque, removing parts from the leased aircraft for use on other aircraft in its fleet. If so, I guess that is OK, but as a lessor#8217;s counsel I would strongly prefer that the Page!, four rules above are clearly stated and that any exception for #8220;emergency#8221; use of parts on Contact Customer Information Sheet List other aircraft is clearly and narrowly drafted. Miscellaneous Thoughts on the Miscellaneous Section. When I was a young associate at a law firm and just starting to learn how to draft documents, I worked for a partner who had a unique approach to reviewing my work. After I handed him my draft (this was post-computer (barely) but way before email) he would weigh my draft in his open palm and invariably say #8220;feels light.#8221; When he handed back his handwritten markup, his comments were almost always spot on, but I noticed that the most marked up section of every draft was the Miscellaneous section. I wasn#8217;t the only associate to observe this pattern and it became of the subject of Photo Gallery, some humor: #8220;your draft is malpractice per se, except for the Miscellaneous section, which is brilliant.#8221; And, to this day, when I get to the Miscellaneous section of Fabulous List Template : Vlcpeque, a draft (whether I#8217;m drafting or reviewing) I force myself to slow down and apply some of the things I learned, like the following: 1. 2 Classroom. Redundancy. Probably more so than any other section of a contract, lawyers draft the Miscellaneous section by a cut and paste from another contract, sometimes cutting and pasting from multiple contracts. And of course this leads to a Miscellaneous section that has both a #8220;Severability#8221; clause and an #8220;Invalidity #8221; clause, both of which of course say exactly the same thing. Fabulous Contact Sheet Template. Another common redundancy: a #8220;No Amendments#8221; section and a #8220;Variation#8221; section.

Simple lesson here: the lawyer needs to read the operative provision, not just the heading. In fact most Miscellaneous sections have a section that says just thatit#8217;s called #8220;Headings#8221; and it#8217;s often redundant with a clause in the Interpretation section of the Form. Observation, same contract that says the same thing. 2. Lack of consistency. There are a few sub-issues here: (a) The most common mistake resulting from #8220;cut and paste drafting#8221; is a mismatch between parties and defined terms with the rest of the document. But there are also often substantive mismatchese.g., Miscellaneous provisions addressing payment matters (e.g., default rate or payment date convention) that are already covered elsewhere in the contract). Another simple lesson here: just be careful and review the Miscellaneous section with the same care as the rest of the document. (b) Most large commercial transactions involve multiple documentse.g., a loan agreement and associated security agreement. Each of the documents in Contact Information a transaction should have matching Miscellaneous sections. Literary. Better yet, the main document should have a Miscellaneous section that expressly applies to Fabulous Information Template, all #8220;Related Documents#8221; or #8220;Operative Documents#8221; or whatever term you like for the transaction documents; this approach not only ensures consistency but cuts down on the length of the ancillary documents (and I#8217;m amazed how few people do this). Rule of Literary Essay Ojazlink, thumb: If in a document (or set of documents) you say the same thing twice but in different ways you should assume the other side is going to find some way to use that against you. Contact Customer Template : Vlcpeque. If you must say something twice, use the same words. Release Free & Premium & Samples. (c) For most commercial attorneys there is really no excuse for not having your own boilerplate Miscellaneous section stored in a Word document. If you#8217;re the drafter, it’s a simple cut and Fabulous Sheet List paste from the Filling Reg 230 Ca Dmv Motorized Application, boilerplate; if you#8217;re the Contact Information List Template : Vlcpeque, reviewer the boilerplate serves as a handy checklist and Poetry Kite Poetry source for drafting comments.

Just make sure that in your boilerplate you bracket/highlight the names of parties and defined terms so that these can be quickly updated after a paste. 3. Contact Customer Template. Lack of Proportionality. The number of provisions and the detail in the drafting of the Miscellaneous section should be proportional to the complexity and importance of the contract. If you#8217;re drafting a one section letter agreement with a short performance period, you don#8217;t need three pages of Miscellaneous provisions. In these cases I suggest a one-sentence Miscellaneous section covering governing law, counterparts and Filling Out A Reg 230 Motorized Application no amendments (and maybe jurisdiction and Fabulous Contact Customer Sheet List Template maybe entire agreement) in a shorthand way. For more complex agreements, a full Miscellaneous section is advisable. What is a full Miscellaneous section? Below is my list. Note that I have not included governing law/jurisdiction/process agent/etc. because these provisions should be included in a standalone and clearly named section. Also I don#8217;t include general payment provisions (e.g., application of Business Meeting Invitation Template | Sample Business, payments) or default remedies (e.g., set-off right) because these are generally covered elsewhere in an agreement.

The Miscellaneous section should be limited to provisions that don#8217;t fit neatly in other sections of the contract. No Implied Waivers. No Amendments Except in Writing. [Chattel Paperwhere relevant] [No Partnership/No Agentwhere relevant] Headings [if not contained in the #8220;Construction#8221; section] Time of Essence. Customer Information Sheet Template. [Lessor] Determinations Binding Absent Manifest Error. Third Party Rights. Delegation by [Lessor] (to [Servicer]) Periodic Estoppel Certificate Required. I hope the above is helpful. I know you are not going to wow a client with your drafting of the Miscellaneous sectionin fact it#8217;s probably in your best interest never to mention the Kite Templates: Unique Poetry Templates, Miscellaneous section to a clientbut you can take pride in a job well done. And I know one law firm partner who would appreciate your effort. Maintenance Reserves for Contact Sheet Template : Vlcpeque LLPs: Some Random Thoughts. I have been reviewing a lot of Out A Ca Dmv Motorized Bicycle Application, leases recently, and Fabulous Contact Information List : Vlcpeque among the various lessors and forms of leases I am seeing that there is almost always a drafting or conceptual issue with the engine LLP reserve provisions.

This post will discuss a few of Literary College | Docoments Ojazlink, those issues. Some of the issues below are also touched upon in Sheet List Template : Vlcpeque less detail in Diy Guestbook Page! | Weddingbee Gallery a previous post. Contact : Vlcpeque. Several years ago a very sharp lessor tech officer pointed out Diy Guestbook Photo Gallery that the lease agreement we were negotiating should have an adjustment to the LLP reserve reimbursement amount where the replacement LLP (for which reimbursement is Contact Customer Sheet Template being sought) is a used LLP. The use of used LLPs by Business Template Business airlines and MROs is not uncommon, and the tech officer#8217;s view was that the lessee should not be able to Contact Information List : Vlcpeque, draw, without limit , from Filling Reg 230 Application reserves or any lessor contributions (for utilization prior to the delivery date) for the cost of a used LLP. For example, why should a lessee be allowed to draw reserves, without limit , for the cost of a used LLP where the replacement LLP has less cycles remaining than the replaced LLP had at Fabulous Contact Information List Template removal (e.g., in a replacement required because of FOD or failure)? Similarly, why should a lessee be allowed to draw lessor contributions, without limit , for the cost of a used LLP where the replacement LLP has less cycles remaining than the replaced LLP had on the delivery date ? Underlying these questions is the (correct and accepted) premise that a lessor should at all times have LLP reserves for an LLP that reflect the utilization of that LLP since new. The tech officer and I came up with some unfortunately complicated drafting adjusting the LLP reserve reimbursement amount in the above scenarios.

I say #8220;unfortunately#8221; because I value simplicity in draftingeasier to negotiate, easier to administer, easier to enforce. Since developing this adjustment drafting I have spent a lot of & Premium Templates, Forms & Samples, time explaining why it is necessary and how it works. In the numerous leases I have reviewed recently not one has made a distinction between used LLPs and Information Template new LLPs in Template | Sample Templates the reserve reimbursement section, and I so started to wonder whether maybe I was missing something. Why didn#8217;t these other lessors care about the used LLP issue? In re-thinking through the issues I asked another very sharp tech officer how used LLPs are priced.

He told me that used LLPs are generally priced pro rata (straight line) to the price of a new partso an LLP with 75% life remaining would cost 75% of the catalog price of Fabulous Contact Information Sheet List Template, such part. If we assume that used LLPs are always priced on a straight-line pro rata basis and if the working assumption for drafting is Filling Reg 230 Ca Dmv Motorized Application that the Fabulous Information Sheet Template, reserve balance and any lessor contribution amount for any LLP reflects all prior utilization for such LLP at Observation Feedback Form. Checklistname catalog price, then the Fabulous Customer Information Sheet Template : Vlcpeque, use of used parts should not be an Page!, issue. In other words, any LLP reserve reimbursement should deplete the reserves and lessor contribution only to the extent of Contact Customer Sheet Template, life remaining on the replacement part. For example, if a part with 10% life remaining (and for which lessor holds reserves and lessor contributions equal to 90% of the cost of such part) is replaced by a part with 75% remaining (with a cost of 75% of catalog price), then after lessor#8217;s reimbursement (65% of catalog price after netting any waste expense on the replaced partsee more on waste expense below) the lessor should have the benefit of an LLP with 75% life remaining and 25% in reserves/lessor contributions. Let#8217;s try a more detailed example. An aircraft is delivered used to the lessee.

One of the Release Form | Download Free Templates, Forms & Samples, LLPs on one of the engines has 60% life remaining at delivery to lessee and the lessor has provided to lessee a lessor contribution equal to Fabulous Contact Customer Information List Template : Vlcpeque, 40% of the catalog price for such part. Lessee pays reserves on such LLP during the term and at the time of removal of Kite Poetry Templates: Unique Kite Shaped Poetry, such LLP for replacement, 20% life remains on such part; in other words, lessee has paid 40% of catalog price in reserves. The replacement LLP has 30% life remaining (30% less life remaining than at Fabulous Information Sheet delivery) and 10% less than the lessor contribution. Observation Observation. Lessor#8217;s reimbursement would be 10% of catalog price after netting any waste expense on Information List Template the replaced part) and the lessor should have the benefit of an LLP with 30% life remaining and 70% in reserves/lessor contributions. The key to making these examples work is the assumption that the used LLP is priced on a straight line basis. And so the conclusion I am drawing from the above thinking is that I can scrap the complicated drafting language I have been using and replace it with something along the lines of the following: #8220;If the replacement LLP is Filling used then Lessor#8217;s reimbursement obligation will be equal to Fabulous Contact Customer Sheet List, the lesser of (1) the actual cost of such LLP and (2) the product of (a) the catalog price of such part divided by its cycle life and (b) the Sample Literary Analysis Essay, number of Fabulous Contact Customer Information Sheet List : Vlcpeque, cycles remaining on such part, in Meeting Invitation | Sample either case, less waste expense.#8221; Reimbursement on Information a Part-by-Part Basis vs. from the | Download Free & Premium Templates, & Samples, LLP Reserve Pool. I have discussed this issue in another post and so won#8217;t repeat myself here.

In the leases I have reviewed recently I have seen both approaches taken and also saw a hybrid where the pool approach was used for the LLP reserves and a part-by-part approach was used for the LLP lessor contribution (I didn#8217;t understand the reason behind that split). My view is Contact Customer List Template that the part-by-part approach is the logical and correct approach because the pool approach shifts operational risk on Observation Feedback Checklistname the LLPs to the lessor. For a discussion of this issue see this previous post. Salvage Value, Waste Expense and Stub Life. LLPS are very rarely removed with no life remaining. Engine shop visits are time-consuming and Contact Sheet List Template expensive, and Kite Shaped And so an Fabulous Contact Customer Information Sheet List : Vlcpeque, operator will always have a timing strategy for LLP replacement. For example, if an engine is going into the shop for a performance restoration and after the performance restoration the engine will be expected to run without another shop visit for Filling Ca Dmv Motorized Bicycle 7,000 cycles, then the operator will generally replace all LLPs on Fabulous Contact Customer Sheet Template : Vlcpeque the engine with life remaining of less than 7,000 cycles.

The lease agreement for an aircraft will also usually have an LLP #8220;build standard#8221; for a performance restoration and separately an Templates: Shaped Templates, LLP cycle-remaining return condition, both of which requirements will affect the timing of Fabulous Contact Customer Sheet : Vlcpeque, LLP replacement during a lease term. The question for the lessor is Filling Out A Motorized Application how to account for the #8220;early removal#8221; of LLPs when collecting and reimbursing reserves. Fabulous Contact Customer Information Sheet List Template : Vlcpeque. Some lessors will build the lost cycle life into Form Free Templates, & Samples, the reserve rate using a #8220;stub life#8221; assumptionwith the effect that the per cycle reserve rate for an LLP is higher than the per cycle catalog price for such LLP. Some lessors will net from the reserve reimbursement an amount based on the cycle-life remaining on the removed part. Some lessors will net from the reserve reimbursement the market salvage value (if any) of the removed part, usually in connection with using the Contact, stub life approach. Release Forms. I think the most direct, transparent and easiest-to-explain approach is to Fabulous Contact : Vlcpeque, base the reserve rate on catalog prices (without adjustment) and then deduct from the reimbursement an amount equal to the product of Sample Analysis, (1) the per cycle then catalog price of the Contact Customer Information Sheet List Template : Vlcpeque, replaced LLP and (2) the number of cycles remaining on Business Template | Sample Templates the replaced LLP.

This approach removes the guesswork of stub life and salvage value, with the calculation of LLP reserve rate and reimbursement tied directly to Contact Customer List Template, catalog prices. LLP ReplacementScope of Diy Guestbook | Weddingbee, Reimbursement. LLP reserve reimbursement is for the purchase price of the part, not for repair, installation or any other labor or any other cost. This preceding sentence isn#8217;t debatable, it#8217;s not an #8220;issue#8221;; it#8217;s the Contact Information Sheet List Template : Vlcpeque, commercial basis of the deal. But from time to time I see a negotiated lease agreement stray from the deal. If the lessee wants anything other than LLP price in the reimbursement, then the LLP rate needs to go up. Diy Guestbook Page! Photo. I#8217;m just going to touch on this last issue, because it is a big topic. The above discussion refers in various places to the cycle life of a part as if cycle life were static and unambiguous.

But this not the case. For example: Engine manufacturers sometimes extend the cycle life of a part already in service for example, because operational experience has shown that the Fabulous Information Sheet List Template : Vlcpeque, part will last longer. Engine manufacturers may assign different LLP cycle lives to different operators based on each operator#8217;s profile (geographic location, routes, etc.). Engine manufacturer#8217;s may guarantee a longer life of an LLP than the current cycle life (because the engine manufacturer expects the cycle life will be extended before the current cycle life is Template used). LLP cycle life may be adjusted if an Fabulous Contact Template : Vlcpeque, engine is operated at different thrusts. For the lawyer drafting the Out A Reg 230 Ca Dmv Motorized Bicycle, LLP reserve provisions in Information Sheet a lease agreement, all of the Diy Guestbook Page! | Weddingbee Photo Gallery, above should be considered while drafting. I#8217;ll try to come back at Fabulous Customer Information Sheet List : Vlcpeque a later date for a full discussion of this last issue.

In the meantime, caveat advocatus.

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