(i) If OWNER elects to sell the Aircraft, OWNER shall apply the proceeds of any these types of sale toward payment of all amounts because of or owing to OWNER beneath this Lease at time of any this sort of application, together with, devoid of limitation: (A) the Party of Default Quantity (calculated as in Report fourteen(a)(iii)); and (B) desire from and such as the payment day laid out in the applicable notice to your date of payment at the highest relevant price authorized by law although not multiple and a person-half p.c (1-112%) a month or fraction thereof. If The online proceeds from any this kind of sale are insufficient to deal with the payment of all such amounts, LESSEE shall continue being liable to Proprietor for that deficiency.
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5. The Respondent Al Mulla was entitled to some credit history or set-off of any and all sums the Claimant received all through its retention, use or operation of the subject plane, ahead of the ultimate sale and disposition of similar.
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choice regarding jurisdictional objections which nationwide courts in Contracting States would then be free to simply accept or reject."
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2. The Claimant's failure to provide or serve a requisite or well timed recognize of default resulted while in the failure to perform a commercially acceptable disposition and sale of the subject aircraft beneath Kansas legislation;
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In his Memorial at web page 8, Reduction Sought, the Respondent Al Mulla asked for that the assert against him be dismissed, a declaration be built in his favour with an award of realistic legal professional's fees and costs related to these arbitration proceedings.