Common use of AUTHORIZATION IN RESPECT OF A TERMINATION OF THE LEASE AND ASSUMPTION OF THE EQUIPMENT NOTES Clause in Contracts

AUTHORIZATION IN RESPECT OF A TERMINATION OF THE LEASE AND ASSUMPTION OF THE EQUIPMENT NOTES. The Owner Participant hereby authorizes and directs the Owner Trustee to, and the Owner Trustee agrees for the benefit of the Owner Participant that it will, take the actions specified to be taken by the Owner Trustee in Section 7(r) of the Participation Agreement upon Lessee's purchasing the Aircraft pursuant to Section 19(b) or 20 of the Lease and upon Lessee's assuming the indebtedness evidenced by the Equipment Notes and satisfying all of its obligations in accordance with the provisions of Section 7(r) of the Participation Agreement.

AUTHORIZATION IN RESPECT OF A TERMINATION OF THE LEASE AND ASSUMPTION OF THE EQUIPMENT NOTES. The Owner Participant hereby authorizes and directs the Owner Trustee to, and the Owner Trustee agrees for the benefit of the Owner Participant that it will, take the actions specified to be taken by the Owner Trustee in Section 7(r7(u) of the Participation Agreement upon Lessee's purchasing the Aircraft pursuant to Section 9(d), 19(b) or 20 of the Lease and upon Lessee's assuming the indebtedness evidenced by the Equipment Notes and satisfying all of its obligations in accordance with the provisions of such Section 7(r) of the Participation Agreement7(u).