Common use of ENGINE LOSS Clause in Contracts

ENGINE LOSS. Upon the occurrence of an Engine Loss (including, for the ------------ avoidance of doubt, at a time when the Engine is not installed on the Airframe) in circumstances in which there has not also occurred a Total Loss, the Lessee shall give the Lessor written notice promptly upon becoming aware of the same and shall (unless the Lessor has received the insurance proceeds relating to such Engine Loss), within 90 days after the Engine Loss Date, convey or cause to be conveyed to the Lessor, as replacement for such Engine, title to a replacement engine that is in the same or better operating condition, has as many or more Flight Hours and Cycles available until the next scheduled checks, inspections, overhauls and shop visits and has the same or greater value and utility as the lost Engine and that complies with the conditions set out in Clause 8.13(a). The Lessee will at its own expense take all such steps and execute, and procure the execution of, all such instruments that are necessary to ensure that title to the replacement engine passes to the Lessor according to all applicable laws, and if requested by the Lessor, will provide evidence to the Lessor's reasonable satisfaction (including the provision, if required, to the Lessor of a legal opinion of counsel to Lessee reasonably satisfactory to Lessor) that title has so passed to the Lessor, whereupon the leasing of the replaced Engine the subject of the Engine Loss shall cease and title to such replaced Engine shall (subject to any salvage rights of insurers) vest in the Lessee pursuant to Clause 8.17(c). If the Lessor subsequently receives any insurance proceeds relating to such Engine Loss, the Lessor shall promptly remit such proceeds to the Lessee. No Engine Loss with respect to any Engine that is replaced in accordance with the provisions of this Clause 11.1(c) shall result in any increase or decrease in Basic Rent or the Termination Value.

ENGINE LOSS. Upon the occurrence of an Engine Loss (including, for the ------------ avoidance of doubt, at a time when the Engine is not installed on the Airframe) in circumstances in which there has not also occurred a Total Loss, the Lessee shall give the Lessor and Mortgagee written notice promptly upon becoming aware of the same and shall (unless the Lessor has received the insurance proceeds relating to such Engine Loss), within 90 60 days after the Engine Loss Date, convey or cause to be conveyed to the Lessor, as replacement for such Engine, title to a replacement engine that is in the same or better operating condition, has as many or more Flight Hours and Cycles available until the next scheduled checks, inspections, overhauls and shop visits and has the same or greater value and utility as the lost Engine and that complies with the conditions set out in Clause 8.13(a). The Lessee will at its own expense take all such steps and execute, and procure the execution of, a full warranty bxxx of sale covering such replacement engine, a supplement to this Agreement adding such replacement engine to the Leased Property and all such other agreements and instruments that are necessary to ensure that title to the replacement engine such Engine passes to the Lessor and is subject to the Security Interest created by the Mortgage and such replacement engine becomes an "Engine", all according to all applicable laws, and if Applicable Laws. At any time when requested by the Lessor, the Lessee will provide evidence to the Lessor's reasonable satisfaction (including the provision, if required, to the Lessor of a one of more legal opinion of counsel to Lessee reasonably satisfactory to Lessoropinions) that title has so passed to the LessorLessor and is subject to the Security Interest created by the Mortgage. Upon compliance with the foregoing title transfer provisions, whereupon the leasing of the replaced Engine the subject of the Engine Loss shall cease and title to such replaced Engine shall (subject to any salvage rights of insurers) vest in the Lessee pursuant to Clause 8.17(c)free of Lessor Liens. If the Lessor or Mortgagee subsequently receives any insurance proceeds relating to such Engine Loss, the Lessor shall promptly remit such proceeds or cause such proceeds to be remitted to the Lessee. No Engine Loss with respect to any Engine that is replaced in accordance with the provisions of this Clause 11.1(c) 11.2 shall result in any increase or decrease in Basic Rent, Additional Rent or the Termination Agreed Value.

ENGINE LOSS. Upon the occurrence of an Engine Loss (including, for the ------------ avoidance of doubt, at a time when the Engine is not installed on the Airframe) in circumstances in which there has not also occurred a Total Loss, the Lessee shall give the Lessor and Mortgagee written notice promptly upon becoming aware of the same and shall (unless the Lessor has received the insurance proceeds relating to such Engine Loss), within 90 60 days after the Engine Loss Date, convey or cause to be conveyed to the Lessor, as replacement for such Engine, title to a replacement engine that is in the same or better operating condition, has as many or more Flight Hours and Cycles available until the next scheduled checks, inspections, overhauls and shop visits and has the same or greater value and utility as the lost Engine and that complies with the conditions set out in Clause 8.13(a). The Lessee will at its own expense take all such steps and execute, and procure the execution of, a full warranty bxxx of sale covering such replacement engine, a supplement to this Agreement adding such replacement engine to the Leased Property and all such other agreements and instruments that are necessary to ensure that title to the replacement engine such Engine passes to the Lessor and is subject to the Security Interest created by the Mortgage and such replacement engine becomes an "Engine", all according to all applicable laws, and if Applicable Laws. At any time when requested by the Lessor, the Lessee will provide evidence to the Lessor's reasonable satisfaction (including the provision, if required, to the Lessor of a one of more legal opinion of counsel to Lessee reasonably satisfactory to Lessoropinions) that title has so passed to the LessorLessor and is subject to the Security Interest created by the Mortgage. Upon compliance with the foregoing title transfer provisions, whereupon the leasing of the replaced Engine the subject of the Engine Loss shall cease and title to such replaced Engine shall (subject to any salvage rights of insurers) vest in the Lessee pursuant to Clause 8.17(c)free of Lessor Liens. If the Lessor or Mortgagee subsequently receives any insurance proceeds relating to such Engine Loss, the Lessor shall promptly remit such proceeds or cause such proceeds to be remitted to the Lessee. No Engine Loss with respect respet to any Engine that is replaced in accordance with the provisions of this Clause 11.1(c) 11.2 shall result in any increase or decrease in Basic Rent, Additional Rent or the Termination Agreed Value.

ENGINE LOSS. Upon the occurrence of an Engine Loss (including, for ----------- the ------------ avoidance of doubt, at a time when the Engine is not installed on the Airframe) in circumstances in which there has not also occurred a Total Loss, the Lessee shall give the Lessor written notice promptly upon becoming aware of the same and shall (unless the Lessor has received the insurance proceeds relating to such Engine Loss), within 90 days after the Engine Loss Date, convey or cause to be conveyed to the Lessor, as replacement for such Engine, title to a replacement engine that is in the same or better operating condition, has as many or more Flight Hours and Cycles available until the next scheduled checks, inspections, overhauls and shop visits and has the same or greater value and utility as the lost Engine and that complies with the conditions set out in Clause 8.13(a). The Lessee will at its own expense take all such steps and execute, and procure the execution of, all such instruments that are necessary to ensure that title to the replacement engine passes to the Lessor according to all applicable laws, and if requested by the Lessor, will provide evidence to the Lessor's reasonable satisfaction (including the provision, if required, to the Lessor of a legal opinion of counsel to Lessee reasonably satisfactory to Lessor) that title has so passed to the Lessor, whereupon the leasing of the replaced Engine the subject of the Engine Loss shall cease and title to such replaced Engine shall (subject to any salvage rights of insurers) vest in the Lessee pursuant to Clause 8.17(c). If the Lessor subsequently receives any insurance proceeds relating to such Engine Loss, the Lessor shall promptly remit such proceeds to the Lessee. No Engine Loss with respect to any Engine that is replaced in accordance with the provisions of this Clause 11.1(c) shall result in any increase or decrease in Basic Rent Rent, the Agreed Value or the Termination Value.