Common use of Assignment, Sale, etc., of Aircraft Clause in Contracts

Assignment, Sale, etc., of Aircraft. Any assignment, ----------------------------------- sale, transfer or other conveyance of the Aircraft, any Engine, any Part or any interest therein by the Owner Trustee made pursuant to the terms hereof or of the Lease or the Participation Agreement shall bind the Owner Participant and shall be effective to transfer or convey all right, title and interest of the Owner Trustee and the Owner Participant in and to the Aircraft, such Engine, such Part or interest therein. No purchaser or other grantee shall be required to inquire as to the authorization, necessity, expediency or regularity of such assignment, sale, transfer or conveyance or as to the application of any sale or other proceeds with respect thereto by the Owner Trustee.