Common use of Nonreplacement Clause in Contracts

Nonreplacement. If such payments are received with respect to the Airframe and/or Engines that have not been and will not be replaced pursuant to Section 10.2, so much of such payments remaining after reimbursement of Lessor and Owner 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 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 interests in the Aircraft. SALE AND LEASE AGREEMENT 28

Nonreplacement. If such payments are received with respect to the an -------------- Airframe and/or and Engines installed thereon, if any, that has not or have not been and will not be replaced pursuant to Section 10.2replaced, so much of such payments remaining after reimbursement of Lessor and Owner Participant for reasonable costs and expenses as shall not exceed the be applied in reduction of Lessee's obligation to pay 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 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 paid to their interests in the Aircraft. SALE AND LEASE AGREEMENT 28Lessee.