Automatic Removal of Aircraft. In the event that the Company returns, transfers or otherwise disposes of any individual Aircraft listed on Exhibit A, such Aircraft shall be deemed immediately removed from the applicability of this Agreement immediately upon the occurrence of such event regardless of whether such Aircraft is specifically removed from Exhibit A and this Agreement shall be terminated as to such Aircraft but shall remain in full force and effect with respect to each of the other Aircraft identified thereon, if any. No such termination shall affect any of the rights and obligations of the parties accrued or incurred prior to such termination. If Company becomes the owner and/or operator of any aircraft not listed on Exhibit A, Exhibit A shall be modified to include such aircraft as an Aircraft covered by this Agreement, and thereafter this Agreement shall remain in full force and effect with respect to such Aircraft and each of the other Aircraft identified thereon, if any.
Appears in 3 contracts
Samples: Aircraft Time Sharing Agreement (Marathon Petroleum Corp), Aircraft Time Sharing Agreement (Marathon Petroleum Corp), Aircraft Time Sharing Agreement (Marathon Petroleum Corp)
Automatic Removal of Aircraft. In the event that the Company returns, transfers or otherwise disposes of any individual Aircraft listed on Exhibit A, such Aircraft shall be deemed immediately removed from the applicability of this Agreement immediately upon the occurrence of such event regardless of whether such Aircraft is specifically removed from Exhibit A A, and this Agreement shall be terminated as to such Aircraft but shall remain in full force and effect with respect to each of the other Aircraft identified thereon, if any. No such termination shall affect any of the rights and obligations of the parties accrued or incurred prior to such termination. If the Company becomes the owner and/or operator of any aircraft not listed on Exhibit A, Exhibit A shall be modified to include such aircraft as an Aircraft covered by this Agreement, and thereafter this Agreement shall remain in full force and effect with respect to such Aircraft and each of the other Aircraft identified thereon, if any.
Appears in 1 contract
Samples: Aircraft Time Sharing Agreement (Valero Energy Corp/Tx)
