ENGINE EXCHANGE. Unless a Payment Default, Bankruptcy Default or Lease Event of Default shall have occurred and be continuing, upon not less than five (5) Business Days' prior written notice to Lessor, Lessee may replace any Engine leased hereunder with another engine (the "Exchanged Engine") meeting the requirements of Section 10.2.2. Such Exchanged Engine shall be deemed to be a "Replacement Engine" and Lessor and Lessee shall comply with the provisions of Section 10.3 with regard to the Exchanged Engine and the Engine so replaced.
Appears in 5 contracts
Samples: Lease Agreement (Continental Airlines Inc /De/), Lease Agreement (Continental Airlines Inc /De/), Lease Agreement (Continental Airlines Inc /De/)
ENGINE EXCHANGE. Unless a Payment Default, Bankruptcy Default or Lease Event of Default shall have occurred and be continuing, upon not less than five (5) Business Days' ’ prior written notice to Lessor, Lessee may replace any Engine leased hereunder with another engine (the "“Exchanged Engine"”) meeting the requirements of Section 10.2.2. Such Exchanged Engine shall be deemed to be a "“Replacement Engine" ” and Lessor and Lessee shall comply with the provisions of Section 10.3 with regard to the Exchanged Engine and the Engine so replaced.
Appears in 1 contract
ENGINE EXCHANGE. Unless a Payment Default, Bankruptcy Default or Lease Event of Default shall have occurred and be continuing, upon not less than five (5) Business Days30 days' prior written notice to LessorLessor and Security Trustee, Lessee may replace any Engine leased hereunder with another engine (the "Exchanged EngineEXCHANGED ENGINE") meeting the requirements of Section 10.2.2. Such Exchanged Engine shall be deemed to be a "Replacement Engine" and Lessor and Lessee shall comply with the provisions of Section 10.3 with regard to the Exchanged Engine and the Engine so replaced.
Appears in 1 contract