Common use of Actions to Be Taken upon Termination of Lease Clause in Contracts

Actions to Be Taken upon Termination of Lease. Upon any of: (a) the voluntary termination of the Lease by the Company pursuant to Section 9 thereof on the Lease Termination Date, and upon payment to the Indenture Trustee of an amount equal to the Redemption Price of all Outstanding Certificates, or (b) the purchase of the Aircraft by the Company at its option pursuant to Section 18.2 of the Lease on the Special Purchase Option Date (unless the Company shall have elected to assume all of the rights and obligations of the Owner Trustee hereunder as provided for in Section 8(r) of the Participation Agreement), and upon payment to the Indenture Trustee of an amount equal to the Redemption Price as at the applicable Redemption Date of all Outstanding Certificates, or (c) the termination of the Lease, on the Lease Loss Payment Date, following an Event of Loss suffered by the Airframe under circumstances where the Company does not exercise its option to substitute a Replacement Airframe therefor pursuant to Section 10.1.2 of the Lease, and upon payment to the Indenture Trustee of an amount equal to the Redemption Price as at the Redemption Date of all Outstanding Certificates, or (d) the satisfaction, discharge, defeasance and termination of obligations under this Agreement in accordance with Section 10.01, the Lien of this Agreement on the Indenture Estate shall terminate (except for the Lien on funds held by the Indenture Trustee to pay the Certificates and the Lien on amounts due from the Company under the Lease necessary to pay the Certificates or the Indenture Trustee) and the Indenture Trustee shall execute such instruments as may be requested by the Company or the Owner Trustee to evidence such termination (at the Company's or the Owner Trustee's expense).

Actions to Be Taken upon Termination of Lease. Upon any of: (a) the voluntary termination of the Lease by the Company pursuant to Section 9 thereof on the Lease Termination Date, and upon payment to the Indenture Trustee of an amount equal to the Redemption Price of all Outstanding Certificates, or (b) the purchase of the Aircraft by the Company at its option pursuant to Section 18.2 of the Lease on the Special Purchase Option Date (unless the Company shall have elected to assume all of the rights and obligations of the Owner Trustee hereunder as provided for in Section 8(r) of the Participation Agreement), and upon payment to the Indenture Trustee of an amount equal to the Redemption Price as at the applicable Redemption Date of all Outstanding Certificates, or (c) the termination of the Lease, on the Lease Loss Payment Date, following an Event of Loss suffered by the Airframe under circumstances where the Company does not exercise its option to substitute a Replacement Airframe therefor pursuant to Section 10.1.2 of the Lease, and upon payment to the Indenture Trustee of an amount equal to the Redemption Price as at the Redemption Date of all Outstanding Certificates, or (d) the satisfaction, discharge, defeasance and termination of obligations under this Agreement in accordance with Section 10.01, the Lien of this Agreement on the Indenture Estate shall terminate (except for the Lien on funds held by the Indenture Trustee to pay the Certificates and the Lien on amounts due from the Company under the Lease necessary to pay the Certificates or the Indenture Trustee) and the Indenture Trustee shall execute such instruments as may be requested by the Company or the Owner Trustee to evidence such termination (at the Company's or the Owner Trustee's expense).. TRUST INDENTURE AND SECURITY AGREEMENT [N397SW] -62- 69 ARTICLE 14 [RESERVED FOR POTENTIAL FUTURE USE]

Actions to Be Taken upon Termination of Lease. Upon any of: (a) the voluntary termination of the Lease by the Company pursuant to Section 9 thereof on the Lease Termination Date, and upon payment to the Indenture Trustee of an amount equal to the Redemption Price of all Outstanding Certificates, or (b) the purchase of the Aircraft by the Company at its option pursuant to Section 18.2 of the Lease on the Special Purchase Option Date (unless the Company shall have elected to assume all of the rights and obligations of the Owner Trustee hereunder as provided for in Section 8(r) of the Participation Agreement), and upon payment to the Indenture Trustee of an amount equal to the Redemption Price as at the applicable Redemption Date of all Outstanding Certificates, or (c) the termination of the Lease, on the Lease Loss Payment Date, following an Event of Loss suffered by the Airframe under circumstances where the Company does not exercise its option to substitute a Replacement Airframe therefor pursuant to Section 10.1.2 of the Lease, and upon payment to the Indenture Trustee of an amount equal to the Redemption Price as at the Redemption Date of all Outstanding Certificates, or (d) the satisfaction, discharge, defeasance and termination of obligations under this Agreement in accordance with Section 10.01, the Lien of this Agreement on the Indenture Estate shall terminate (except for the Lien on funds held by the Indenture Trustee to pay the Certificates and the Lien on amounts due from the Company under the Lease necessary to pay the Certificates or the Indenture Trustee) and the Indenture Trustee shall execute such instruments as may be requested by the Company or the Owner Trustee to evidence such termination (at the Company's or the Owner Trustee's expense).. TRUST INDENTURE AND SECURITY AGREEMENT [N396SW] -62- 69 ARTICLE 14 [RESERVED FOR POTENTIAL FUTURE USE]

Actions to Be Taken upon Termination of Lease. Upon any of: (a) the voluntary termination of the Lease by the Company pursuant to Section 9 9(a)(2) thereof on the Lease Termination Date, and upon payment to the Indenture Trustee of an amount equal to the Redemption Price of all Outstanding Certificates, or, (b) the purchase of the Aircraft by the Company at its option pursuant to Section 18.2 19(b)(1) of the Lease on the Special Purchase Option EBO Date or pursuant to Section 9(b) of the Lease on the date specified in the notice given by the Company pursuant to Section 9(a)(3), as the case may be (unless the Company shall have elected to assume all of the rights and obligations of the Owner Trustee hereunder as provided for in Section 8(r8(l) of the Participation Agreement), and upon payment to the Indenture Trustee of an amount equal to the Redemption Price as at the applicable Redemption Date of all Outstanding Certificates, or, (c) the termination of the Lease, on the Lease Loss Payment Date, following an Event of Loss suffered by the Airframe under circumstances where the Company does not exercise its option to substitute a Replacement Airframe therefor pursuant to Section 10.1.2 10(a)(ii) of the Lease, and upon payment to the Indenture Trustee of an amount equal to the Redemption Price as at the Redemption Date of all Outstanding Certificates, or, (d) the satisfaction, discharge, defeasance and termination of obligations under this Agreement Indenture in accordance with Section 10.01, or (e) the voluntary termination of the Lease with respect to an Engine pursuant to Section 10(b) thereof, and upon the payment of Stipulated Loss Value with respect to such Engine, Indenture-68 (1995 777 C) the Lien of this Agreement Indenture on the Indenture Estate Estate, in the case of (a), (b), (c) or (d) above, and on such Engine, in the case of (e) above, shall terminate (except for the Lien on funds held by the Indenture Trustee to pay the Certificates and the Lien on amounts due from the Company under the Lease necessary to pay the Certificates or the Indenture Trustee) and the Indenture Trustee shall execute such instruments as may be requested by the Company or the Owner Trustee to evidence such termination (at the Company's or the Owner Trustee's expense)termination.