Common use of Conveyance; Replacement Engine Clause in Contracts

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 10.212.02, Lessor will Transfer (or will cause its Transferee to Lessee transfer all of its right, title and interest in the Engine with respect to which such Event of Loss occurredoccurred to Lessee, and Lessee will be subrogated to all claims "as-is, where-is," free-and-clear of Lessor's Liens but otherwise without recourse or warranty, if any, against third parties for damage to express or loss of such Engine to the extent of the insured value thereofimplied.