Common use of Ownership of Parts Clause in Contracts

Ownership of Parts. Immediately upon any part's (including Modification Parts) becoming incorporated in, installed on or attached to the Airframe or any Engine, without further act (1) title to such part shall thereupon vest in Lessor, free and clear of all Liens (other than Permitted Liens), (2) such part shall become subject to the Lease Agreement and be deemed a "Part" of such Airframe or such Engine for all purposes hereof and (3) title to any replaced Part shall thereupon vest in Lessee, free and clear of all rights of Lessor and all Lessor Liens and shall no longer be deemed a Part hereunder, except that with respect to non-complying parts described in the last sentence of Section 2.3.1 of this Schedule 1 where such non-compliance is due to the failure to meet the requirements of Section 2.2.1.1 or 2.3.1.2 of this Schedule 1 and the parts described in Section 2.4.5 of this Schedule 1, title thereto shall not vest in Lessor. Lessee will at its own expense take all such steps and execute, and procure the execution of, all such instruments as Lessor may reasonably require and which are necessary to ensure that title so passes to Lessor according to all applicable laws. At any time when requested by Lessor, Lessee will provide evidence to Lessor's reasonable satisfaction (including the provision, if required, to Lessor of a legal opinion) that title has so passed to Lessor. All Parts (other than Modification Parts) at any time removed from the Airframe or any Engine shall remain the property of Lessor, no matter where located, until such time as such Parts shall be replaced by Parts which have been incorporated or installed in or attached to the Airframe or any Engine and which meet the requirements set forth in Section 2.3.1 of this Schedule 1. Upon any removal of Modification Parts pursuant hereto, title thereto shall, without further act, vest in Lessee free and clear of all rights of Lessor and all Lessor Liens, and such Modification Part shall no longer be deemed a Part hereunder.

Ownership of Parts. Immediately upon any part's part (including Modification Parts) becoming incorporated in, installed on or attached to the Airframe or any Engine, without further act act: (1a) title to such each part incorporated, installed or attached in accordance with Section 9.18 and which complies with the requirements of Section 9.18 shall thereupon (x) vest (with full title guarantee) in LessorOwner, free and clear of all Liens (other than Permitted Liens), (2y) be made subject to the Lien of any applicable financing document, and (z) and such part shall become subject to the Lease this Agreement and be deemed a "“Part" ” of such Airframe or such Engine for all purposes hereof hereof; and (3b) title to any replaced Part shall thereupon vest in Lessee, free and clear of all rights of Lessor Owner and all Lessor Liens and shall no longer be deemed a Part hereunder, except that Part. If any part which does not comply with respect to non-complying parts described in the last sentence of Section 2.3.1 of this Schedule 1 where such non-compliance is due to the failure to meet the requirements of Section 2.2.1.1 9.18 is incorporated in, installed in or 2.3.1.2 of this Schedule 1 and attached to the parts described in Section 2.4.5 of this Schedule 1Airframe, title thereto to such part shall not vest in LessorOwner and title to the replaced part shall not vest in Lessee until a part complying with this Section 9.18 is incorporated, installed in or attached to the Airframe. Lessee will will, at its own expense expense, take all such steps and execute, and procure the execution of, all such instruments as Lessor may reasonably require and which are necessary to ensure that title so passes to Lessor Owner according to all applicable lawsLaws. At any time when requested by Lessor, Lessee will provide evidence to Lessor's ’s reasonable satisfaction (including the provision, if required, to Lessor of a legal opinion) that title has so passed to LessorOwner. All Parts (other than Modification PartsParts replaced in accordance with Section 9.18) at any time removed from the Airframe or any Engine shall remain the property of LessorOwner, no matter where located, until such time as such Parts shall be replaced by Parts which have been incorporated or installed in or attached to the Airframe or any Engine and which meet the requirements set forth in Section 2.3.1 of this Schedule 1. Upon any removal of Modification Parts pursuant hereto, title thereto shall, without further act, vest in Lessee free and clear of all rights of Lessor and all Lessor Liens, and such Modification Part shall no longer be deemed a Part hereunderEngine.

Ownership of Parts. Immediately upon any part's part (including Modification Parts, but excluding any temporary replacement part installed in accordance with the last paragraph of Section 1.2.1) becoming incorporated in, installed on or attached to the Airframe or any Engine, without further act act: (1) title to such part shall thereupon vest will vest, with full title guarantee, in LessorOwner, free and clear of all Liens (other than Permitted Liens), (2) Liens and such part shall will become subject to the Aircraft Lease Agreement and any Financing Security Documents and be deemed a "“Part" ” of such Airframe or such Engine for all purposes hereof and of the Aircraft Lease Agreement; and (32) title to any replaced Part shall will thereupon vest in Lessee, free and clear of all rights of Owner and Lessor and all Lessor Liens and shall will no longer be deemed a Part hereunder, except that with respect to non-complying parts described in the last sentence of Section 2.3.1 of this Schedule 1 where such non-compliance is due to the failure to meet the requirements of Section 2.2.1.1 or 2.3.1.2 of this Schedule 1 and the parts described in Section 2.4.5 of this Schedule 1, title thereto shall not vest in LessorPart. Lessee will shall, at its own expense cost, provide such documentary evidence and take all such steps and execute, and procure other action as the execution of, all such instruments as Lessor may reasonably require and which are necessary request to ensure that title so passes evidence the transfer to Lessor according to all applicable laws. At any time when requested by Lessor, Lessee will provide evidence to Lessor's reasonable satisfaction (including Owner of full ownership of the provision, if required, to Lessor of a legal opinion) that title has so passed to Lessorreplacement part. All Parts (other than Modification PartsParts removed in accordance with Section 1.3 of this Schedule 2) at any time removed from the Airframe or any Engine shall Aircraft will remain the property of LessorOwner, no matter where located, until such time as such Parts shall will be replaced by Parts which have been incorporated or installed in or attached to the Airframe or any Engine and which meet the requirements set forth in Section 2.3.1 Sections 1.2.1(1)-(5) of this Schedule 12. Upon If any removal part which does not comply with the requirements of Modification Parts pursuant heretoSections 1.2.1(1)-(5) of this Schedule 2 is incorporated in, installed in or attached to the Aircraft, title thereto shall, without further act, to such part will not vest in Owner and title to the replaced part will not vest in Lessee free and clear of all rights of Lessor and all Lessor Liensuntil a part complying with such Section 1.2.1(1)-(5) is incorporated, and such Modification Part shall no longer be deemed a Part hereunderinstalled in or attached to the Aircraft.

Ownership of Parts. Immediately Except as provided in the final paragraph of this Section 1.2.1, immediately upon any part's part (including Modification Parts) becoming incorporated in, installed on or attached to the Airframe or any Engine, without further act act: (1) title to such part shall thereupon vest vest, with full title guarantee, in LessorOwner, free and clear of all Liens (other than Permitted Liens), (2) Liens and such part shall become subject to the Lease Agreement and any Financing Security Documents and be deemed a "“Part" ” of such Airframe or such Engine for all purposes hereof and hereof; and (32) title to any replaced Part shall thereupon vest in Lessee, free and clear of all rights of Owner and Lessor and all Lessor Liens and shall no longer be deemed a Part hereunder, except that with respect to non-complying parts described in the last sentence of Section 2.3.1 of this Schedule 1 where such non-compliance is due to the failure to meet the requirements of Section 2.2.1.1 or 2.3.1.2 of this Schedule 1 and the parts described in Section 2.4.5 of this Schedule 1, title thereto shall not vest in LessorPart. Lessee will will, at its own expense expense, take all such steps and execute, and procure the execution of, all such instruments as Lessor may reasonably require and which are necessary to ensure that title so passes to Lessor Owner according to all applicable laws. At any time when requested by Lessor, Lessee will provide evidence to Lessor's ’s reasonable satisfaction (including the provision, if required, to Lessor of a legal opinion) that title has so passed to LessorOwner. All Parts (other than Modification Parts removed in accordance with Section 1.3 of this Schedule 2 and Obsolete Parts) at any time removed from the Airframe or any Engine Aircraft shall remain the property of LessorOwner, no matter where located, until such time as such Parts shall be replaced by Parts which have been incorporated or installed in or attached to the Airframe or any Engine and which meet the requirements set forth in Section 2.3.1 Sections 1.2.1(1)-(4) of this Schedule 12. Upon Obsolete Parts with a value equal to or more than US$50,000 shall either be retained by Lessee and returned with the Aircraft or shall be shipped to Lessor as a location to be designated by Lessor for such part at such time. Obsolete Parts with a value less than US$50,000 may be retained by Lessee. If any removal part which does not comply with the requirements of Modification Parts pursuant heretoSections 1.2.1(1)-(4) of this Schedule 2 is incorporated in, installed in or attached to the Aircraft, title thereto shall, without further act, to such part shall not vest in Owner and title to the replaced part shall not vest in Lessee free and clear of all rights of Lessor and all Lessor Liensuntil a part complying with such Section 1.2.1(1)-(4) is incorporated, and such Modification Part shall no longer be deemed a Part hereunderinstalled in or attached to the Aircraft.

Ownership of Parts. Immediately upon any part's (including Modification Parts) becoming incorporated in, installed on or attached to the Airframe or any Engine, without further act (1) title to such part shall thereupon vest in Lessor, free and clear of all Liens (other than Permitted Liens), (2) such part shall become subject to the Lease Agreement and be deemed a "Part" of such Airframe or such Engine for all purposes hereof and (3) title to any replaced Part shall thereupon vest in Lessee, free and clear of all rights of Lessor and all Lessor Liens and shall no longer be deemed a Part hereunder, except that with respect to non-complying parts described in the last sentence of Section 2.3.1 1.3.1 of this Schedule 1 2 where such non-compliance is due to the failure to meet the requirements of Section 2.2.1.1 1.3.1.1 or 2.3.1.2 1.3.1.2 of this Schedule 1 2 and the parts described in Section 2.4.5 1.4.6 of this Schedule 12, title thereto shall not vest in Lessor. Lessee will at its own expense take all such steps and execute, and procure the execution of, all such instruments as Lessor may reasonably require and which are necessary to ensure that title so passes to Lessor according to all applicable laws. At any time when requested by Lessor, Lessee will provide evidence to Lessor's reasonable satisfaction (including the provision, if required, to Lessor of a legal opinion) that title has so passed to Lessor. All Parts (other than Modification Parts) at any time removed from the Airframe or any Engine shall remain the property of Lessor, no matter where located, until such time as such Parts shall be replaced by Parts which have been incorporated or installed in or attached to the Airframe or any Engine and which meet the requirements set forth in Section 2.3.1 1.3.1 of this Schedule 12. Upon any removal of Modification Parts pursuant hereto, title thereto shall, without further act, vest in Lessee free and clear of all rights of Lessor and all Lessor Liens, and such Modification Part shall no longer be deemed a Part hereunder.