Common use of INTERCHANGE AND POOLING Clause in Contracts

INTERCHANGE AND POOLING. Subject or permit any Permitted Sublessee to subject (i) the Aircraft, Airframe or any Engine to normal interchange agreements customary in the airline industry and entered into by Lessee or such Permitted Sublessee in the ordinary course of its business with, in the case of the Airframe, a U.S. Air Carrier or a Permitted Foreign Air Carrier, in either case that is not then subject to bankruptcy or similar proceedings, and (ii) any Engine to pooling agreements or arrangements customary in the United States domestic commercial airline industry and entered into by Lessee or such Permitted Sublessee in the ordinary course of its business; but in either case (A) no transfer of the registration of the Airframe or any Engine shall be effected in connection therewith and the terms of this Lease and the Participation Agreement shall be observed and (B) no such agreement or arrangement shall contemplate or require the transfer of title to the Aircraft, Airframe or any Engine and if Lessor's title to any Engine shall be divested under any such agreement or arrangement, such divestiture shall be deemed to be an Event of Loss with respect thereto and Lessee shall comply with Section 10.2 hereof;

INTERCHANGE AND POOLING. Subject or permit any Permitted Sublessee to subject (i) the Aircraft, Airframe or any Engine to normal interchange agreements customary in the airline industry and entered into by Lessee or such Permitted Sublessee in the ordinary course of its business with, in the case of the Airframe, a U.S. Air Carrier or a Permitted SALE AND LEASE AGREEMENT [N603SW] -24- 31 Foreign Air Carrier, in either case that is not then subject to bankruptcy or similar proceedings, and (ii) any Engine to pooling agreements or arrangements customary in the United States domestic commercial airline industry and entered into by Lessee or such Permitted Sublessee in the ordinary course of its business; but in either case (A) no transfer of the registration of the Airframe or any Engine shall be effected in connection therewith and the terms of this Lease and the Participation Agreement shall be observed and (B) no such agreement or arrangement shall contemplate or require the transfer of title to the Aircraft, Airframe or any Engine and if Lessor's title to any Engine shall be divested under any such agreement or arrangement, such divestiture shall be deemed to be an Event of Loss with respect thereto and Lessee shall comply with Section 10.2 hereof;