Conveyance; Replacement Engine Sample Clauses
The "Conveyance; Replacement Engine" clause outlines the process and requirements for transferring ownership of a replacement engine in a transaction. Typically, this clause specifies that if the original engine is found to be defective or otherwise needs replacement, the seller is responsible for providing a substitute engine that meets agreed-upon standards or specifications. It may detail the timing, condition, and documentation required for the replacement, ensuring both parties understand their obligations. The core function of this clause is to ensure that the buyer receives a functional engine as intended, while providing a clear mechanism for addressing issues with the original engine, thereby reducing disputes and ensuring operational continuity.
Conveyance; Replacement Engine. Upon compliance by Lessee with the terms of this Section 10.2, Lessor will comply with the provisions of the Trust Indenture applicable thereto and, upon Indenture Trustee's release of the Engine with respect to which such Event of Loss occurred from the Lien of the Trust Indenture Estate, Transfer such Engine to Lessee, and Lessee will be subrogated to all claims of Lessor, if any, against third parties for damage to or loss of such Engine to the extent of the insured value thereof.
Conveyance; Replacement Engine. Upon compliance by Lessee with the terms of this Section 8(b), Lessor will (subject to the rights of any insurer) transfer (other than in the case of the replacement of an Engine which was not upon the occurrence of the Event of Loss, a Serviced Engine) to Lessee all of Lessor's right, title and interest as of the delivery date of such replacement Serviced Engine in the replaced Serviced Engine, "as-is, where-is", free and clear of Lessor's Liens but otherwise without recourse or warranty, express, implied or otherwise.
Conveyance; Replacement Engine. Upon compliance by Lessee with the terms of this Section 10.2, Lessor will Transfer to Lessee the Engine with respect to which such Event of Loss occurred, and Lessee will be subrogated to all claims of Lessor, if any, against third parties for damage to or loss of such Engine to the extent of the insured value thereof.
Conveyance; Replacement Engine. Upon full compliance by Lessee with the terms of this Section 10.2, Lessor will transfer the Engine with respect to which such Event of Loss occurred to Lessee on an "as-is, where-is" basis, free and clear of Lessor Liens, but otherwise without recourse, representation or warranty, express or implied.
Conveyance; Replacement Engine. Upon full compliance by Lessee with the ------------------------------ terms of this Section 10.2, Federal Express Boeing 727-2D4 N362PA Lessor will transfer the Engine with respect to which such Event of Loss occurred to Lessee on an "as-is, where-is" basis, free and clear of Lessor Liens, but otherwise without recourse, representation or warranty, express or implied.
Conveyance; Replacement Engine. Upon compliance by Lessee with the terms of this Section 10.2, Lessor will comply with the provisions of the Trust Indenture applicable thereto and, upon Indenture Trustee's release of the Engine with respect to which such Event of Loss occurred from the Lien of the Trust Indenture Estate, Transfer such SALE AND LEASE AGREEMENT [N605SW] -40- 47 Engine to Lessee, and Lessee will be subrogated to all claims of Lessor, if any, against third parties for damage to or loss of such Engine to the extent of the insured value thereof.