Common use of Nonreplacement Clause in Contracts

Nonreplacement. If such payments are received with respect to the Airframe or the Airframe and the Engines or engines installed on the Airframe that has not or have not been and will not be replaced pursuant to Section 10.1 or 10.2, so much of such payments remaining after reimbursement of Lessor, Indenture Trustee and each Participant for costs and expenses as shall not exceed the Stipulated Loss Value and other amounts required to be paid by Lessee hereunder shall be applied in reduction of Lessee's obligation to pay such Stipulated Loss Value and other amounts required to be paid by Lessee hereunder, if not already paid by Lessee, or, if already paid by Lessee, shall be applied to reimburse Lessee for its payment of such Stipulated Loss Value and other amounts. The balance, if any, of such payment remaining thereafter shall be divided between Lessor and Lessee in proportion to their relative interests in the Aircraft.

Nonreplacement. If such payments are received with respect to the Airframe or the Airframe and and/or the Engines or engines installed on the Airframe that has not or have not been and will are not be being replaced pursuant to Section 10.1 or 10.2, such payments shall be paid over to, or retained by, Indenture Trustee, or, if the Trust Indenture is no longer in effect, Lessor, and so much of such payments remaining after reimbursement of Lessor, Indenture Trustee and each Participant for costs and expenses as shall not exceed the Stipulated Loss Value and other amounts required to be paid by Lessee hereunder shall be applied in reduction of Lessee's obligation to pay such Stipulated Loss Value and other amounts required to be paid by Lessee hereunder, if not already paid by Lessee, or, if already paid by Lessee, shall be applied to reimburse Lessee for its payment of such Stipulated Loss Value and other amounts. The balance, if any, of such payment remaining thereafter shall be divided between Lessor and Lessee in proportion to their relative interests in the Aircraft.

Nonreplacement. If such payments are received with respect to the Airframe or the Airframe and the Engines or engines installed on the Airframe that has not or have not been and will not be replaced pursuant to Section 10.1 or 10.2, so much of such payments remaining after reimbursement of Lessor, Indenture Trustee and each Participant for costs and expenses as shall not exceed the Stipulated Loss Value and other amounts required to be paid by Lessee hereunder shall be applied in reduction of Lessee's obligation to pay such Stipulated Loss Value and other amounts required to be paid by Lessee hereunder, if not already paid by Lessee, or, if already paid by Lessee, shall be applied to reimburse Lessee SALE AND LEASE AGREEMENT [N604SW] -41- 48 for its payment of such Stipulated Loss Value and other amounts. The balance, if any, of such payment remaining thereafter shall be divided between Lessor and Lessee in proportion to their relative interests in the Aircraft.