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. (a) Upon the occurrence of an Engine Loss in circumstances in which there has not also occurred a Total 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)shall, 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 utility, as the lost Engine (assuming the lost Engine was, immediately before the Engine Loss, in the condition required by this Agreement) and that complies with the conditions set out in Clause Section 8.13(a). The . (b) Lessee will at its own expense take all such steps and execute, and procure the execution of, a full warranty bill 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 such Engine passes to Lessor and is subject to the Security Interest created by any Financing Security Document and such replacement engine passes to the Lessor becomes an “Engine”, all according to all applicable laws, and if Applicable Laws. At any time when requested by the LessorXxxxxx, Lessee will provide evidence to the Lessor's ’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 Lessor and is subject to the LessorSecurity Interest created by any Financing Security Document. (c) Upon compliance with the foregoing title transfer provisions, whereupon the leasing of the replaced Engine the subject of that suffered 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 any Financing Party subsequently receives any insurance proceeds relating to such Engine Loss, the Lessor shall promptly remit such proceeds, or cause such proceeds to the be remitted, to Lessee. . (d) No Engine Loss with respect to any Engine that is replaced in accordance with the provisions of this Clause 11.1(c) Section 11.3 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 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 the Lender 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 shall, at its own expense take the time of such conveyance, comply in all such steps and execute, and procure the execution of, all such instruments respects with Clause 8.17(a) so 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 Lessorbecomes an Engine, 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 the Lender 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(c11.1 (c) shall result in any increase or decrease in Basic 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.

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, is the same make and model or an improved or advanced version of, has as many or more Flight Hours and Cycles available until the next scheduled checks, inspections, overhauls and shop visits visits, has the same or greater remaining life on life limited parts, 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)Section 8.13. 1. 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 lawsApplicable 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)Section 8.17. 2. 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) Section 11.1.3 shall result in any increase or decrease in Basic Rent 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 during the Term of a Total Loss with ----------- respect to an Engine Loss (including, for the ------------ avoidance of doubt, at a time when the Engine is whether or not installed on the Airframe) in circumstances in which there has Airframe and not also occurred involving 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 the Airframe, Lessee shall give Lessor written notice thereof within ten (10) Business Days of such loss and shall within 90 days of the occurrence of such Total Loss and on at least five (5) days' prior written notice to Lessor substitute a Replacement Engine for such Engine; provided, however, under all circumstances a Replacement Engine shall be substituted on or before the expiration of the Term. In such event, immediately upon the effectiveness of such substitution on the date set forth in such notice and without further act, (1) tide to the Replacement Engine shall thereupon vest in Lessor (subject only to Permitted Liens), (2) tide to the replaced engine shall thereupon vest in Lessee in "as-is, where-is" condition, free and clear of all rights of Lessor and shall no longer be deemed an Engine hereunder, and (3) such Replacement Engine shall become subject to this Lease and be deemed part of the Aircraft for all purposes hereof to the same extent as the Engine originally installed on or attached to the Airframe. Upon such substitution, Lessee shall execute and deliver to Lessor such bills of sale, opinions of counsel and other documents and instruments as Lessor shall reasonably request to evidence the interest of Lessor and conveyance to Lessor of good and marketable tide to such Replacement Engine. Upon such substitution, (x) Lessor shall execute and deliver to Lessee such bills of sale and other documents and instruments, prepared at Lessee's expense as Lessee shall reasonably request to evidence such transfer and vesting of tide in and to the replaced Engine in Lessee, free and clear of all rights of Lessor and (y) Lessee shall receive all insurance proceeds and proceeds in respect of any Total Loss causing such replacement to the extent not previously applied to the purchase price of the Replacement Engine that is replaced as provided in accordance Section 12.3 hereof. No Total Loss with respect to an Engine under the provisions of circumstances contemplated by this Clause 11.1(c) Section 12.2 shall result in any increase or decrease in Basic reduction of Lessee's obligations to pay Rent or the Termination Valuehereunder.

ENGINE LOSS. (a) Upon the occurrence of an Engine Loss in circumstances in which there has not also occurred a Total 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)shall, 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 utility, as the lost Engine (assuming the lost Engine was, immediately before the Engine Loss, in the condition required by this Agreement) and that complies with the conditions set out in Clause Section 8.13(a). The . (b) Lessee will at its own expense take all such steps and execute, and procure the execution of, a full warranty xxxx of sale covering such replacement engine, a supplement to this Agreement adding such replacement engine to the Aircraft and all such other agreements and instruments that are necessary to ensure that title to such Engine passes to Lessor and is subject to the Security Interest created by any Financing Security Document and such replacement engine passes to the Lessor becomes an “Engine”, all according to all applicable laws, and if Applicable Laws. At any time when requested by the Lessor, Lessee will provide evidence to the Lessor's ’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 Lessor and is subject to the LessorSecurity Interest created by any Financing Security Document. (c) Upon compliance with the foregoing title transfer provisions, whereupon the leasing of the replaced Engine the subject of that suffered 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 any Financing Party subsequently receives any insurance proceeds relating to such Engine Loss, the Lessor shall promptly remit such proceeds, or cause such proceeds to the be remitted, to 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. (a) 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 any 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)shall, 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 Section 8.13(a). The . (b) Lessee will at its own expense take all such steps and execute, and procure the execution of, a full warranty bill of sale covering such replacement engine, a supplement xx 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 such Engine passes to Lessor and is subject to the Security Interest created by any Mortgage and such replacement engine passes to the Lessor becomes an "Engine", all according to all applicable laws, and if Applicable Laws. At any time when requested by the Lessor, 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 Lessor and is subject to the LessorSecurity Interest created by any Mortgage. (c) Upon compliance with the foregoing title transfer provisions, whereupon the leasing of the replaced Engine the subject of that suffered 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 any Mortgagee subsequently receives any insurance proceeds relating to such Engine Loss, the Lessor shall promptly remit such proceeds or cause such proceeds to the be remitted to Lessee. . (d) No Engine Loss with respect to any Engine that is replaced in accordance with the provisions of this Clause 11.1(c) Section 11.3 shall result in any increase or decrease in Basic Rent, Additional Rent or the Termination Agreed Value.