Pooling of Parts. Any Part removed from the Airframe or any Engine as permitted in Section 8.01(a) hereof may be subjected by the Lessee to any normal pooling arrangement customary in the U.S. airline industry and entered into with vendors and other Air Carriers in the ordinary course of the Lessee's business, provided that the part replacing such removed Part shall be incorporated or installed in or attached to the Airframe or such Engine in accordance with Section 8 hereof, as promptly as practicable after the removal of such removed Part. In addition, any replacement part when incorporated or installed in or attached to the Airframe or any Engine in accordance with Section 8.01(a) hereof may be owned by another Air Carrier subject to such normal pooling arrangement, provided that the Lessee, at its own cost and expense and as promptly as possible, either: (a) causes title to such replacement part to vest in the Lessor in accordance with Section 8.01(b) hereof by the Lessee acquiring title to such replacement part for the benefit of, and transferring such title to, the Lessor free and clear of all Liens (other than Liens permitted under Section 6.01 hereof); or (b) replaces such replacement part by incorporating or installing in or attaching to the Airframe or such Engine a further replacement part owned by the Lessee free and clear of all Liens (other than Liens permitted under Section 6.01 hereof) and by causing title to such further replacement part to vest in the Lessor in accordance with Section 8.01(b) hereof. All such replacement parts and further replacement parts shall meet the standards set forth in the last sentence of Section 8.01(a) hereof.
Appears in 7 contracts
Samples: Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp)
Pooling of Parts. Any Part removed from the Airframe or any an Engine as permitted provided in Section 8.01(aparagraph (a) hereof of this Article may be subjected by the Lessee to any a normal pooling arrangement customary in the U.S. airline industry and entered into with vendors and other Air Carriers in the ordinary course of the Lessee's businessbusiness with an air carrier approved by Lessor, provided that the part replacing such removed Part shall be incorporated or installed in or attached to the Airframe or such Engine in accordance with Section 8 hereof, paragraph (a) of this Article as promptly as practicable possible after the removal of such removed Part. In addition, any replacement part when incorporated or installed in or attached to the Airframe or any Engine in accordance with Section 8.01(aparagraph (a) hereof of this Article may be owned by another Air Carrier an air carrier approved by Lessor subject to such a normal pooling arrangement, provided that the Lessee, at its own cost and expense and expense, as promptly thereafter as possible, either:
possible either (ai) causes title to such replacement part to vest in the Lessor in accordance with Section 8.01(bparagraph (a) hereof of this Article by the Lessee acquiring title to such replacement part thereto for the benefit of, and transferring such title to, the Lessor free and clear of all Liens Liens, or (other than Liens permitted under Section 6.01 hereof); or
(bii) replaces such replacement part by incorporating or installing in or attaching to the Airframe or such Engine a further replacement part owned by the Lessee free and clear of all Liens (other than Liens permitted under Section 6.01 hereof) and by causing title to such further replacement part to vest in the Lessor in accordance with Section 8.01(bparagraph (a) hereof. All such replacement parts and further replacement parts shall meet the standards set forth in the last sentence of Section 8.01(a) hereofthis Article.
Appears in 5 contracts
Samples: Lease Agreement (Hawaiian Airlines Inc/Hi), Lease Agreement (Hawaiian Airlines Inc/Hi), Lease Agreement (Turn Works Acquisition Iii Sub a Inc)
Pooling of Parts. Any Part removed from the Airframe or any Engine as permitted in Section 8.01(a) hereof may be subjected by the Lessee to any normal pooling arrangement customary in the U.S. airline industry and entered into with vendors and other Air Carriers in the ordinary course of the Lessee's business, provided that the part replacing such removed Part shall be incorporated or installed in or attached to the Airframe or such Engine in accordance with Section 8 hereof, as promptly as practicable after the removal of such removed Part. In addition, any replacement part when incorporated or installed in or attached to the Airframe or any Engine in accordance with Section 8.01(a) hereof may be owned by another Air Carrier subject to such normal pooling arrangement, provided that the Lessee, at its own cost and expense and as promptly as possible, either:
(a) causes title to such replacement part to vest in the Lessor in accordance with Section 8.01(b) hereof by the Lessee acquiring title to such replacement part for the benefit of, and transferring such title to, the Lessor free and clear of all Liens (other than Liens permitted under Section 6.01 hereofhereof (other than clauses (d) and (f) thereof)); or
(b) replaces such replacement part by incorporating or installing in or attaching to the Airframe or such Engine a further replacement part owned by the Lessee free and clear of all Liens (other than Liens permitted under Section 6.01 hereofhereof (other than clauses (d) and (f) thereof)) and by causing title to such further replacement part to vest in the Lessor in accordance with Section 8.01(b) hereof. All such replacement parts and further replacement parts shall meet the standards set forth in the last sentence of Section 8.01(a) hereof.
Appears in 4 contracts
Samples: Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp), Lease Agreement (Federal Express Corp)
Pooling of Parts. Any Part removed from the Airframe or any Engine or Propeller as permitted provided in Section 8.01(a8(a) hereof may be subjected by the Lessee to any a normal pooling arrangement customary in the U.S. airline industry and entered into with vendors and other Air Carriers in the ordinary course of the Lessee's businessbusiness with any air carrier, provided that the part replacing such removed Part shall be incorporated or installed in or attached to the Airframe such Airframe, Engine or such Engine Propeller in accordance with Section 8 hereof, Sections 8(a) and 8(b) as promptly as practicable possible after the removal of such removed Part. In addition, any temporary replacement part when incorporated or installed in or attached to the Airframe any Airframe, Engine or any Engine Propeller in accordance with Section 8.01(a8(a) hereof may be owned by another Air Carrier airline or vendor as customary in the airline industry, subject to such a normal pooling or leasing arrangement, provided that the LesseeLessee shall, at its own cost and expense and expense, as promptly thereafter as reasonably possible, either:
either (ai) causes cause title to such temporary replacement part to vest in the Lessor in accordance with Section 8.01(b8(b)(iii) hereof by the Lessee acquiring title to such replacement part thereto for the benefit of, and transferring such title to, the of Lessor free and clear of all Liens except Permitted Liens, at which time such temporary replacement part shall become a Part and become subject to this Lease; or (other than Liens permitted under Section 6.01 hereof); or
(bii) replaces replace such temporary replacement part by incorporating or installing in or attaching to the Airframe such Airframe, Engine or such Engine Propeller a further replacement part Part owned by the Lessee free and clear of all Liens (other than Liens permitted under Section 6.01 hereof) except Permitted Liens, and by causing title to such further replacement part Part to vest in the Lessor in accordance with Section 8.01(b) hereof. All such replacement parts and further replacement parts shall meet the standards set forth in the last sentence of Section 8.01(a8(b) hereof.
Appears in 3 contracts
Samples: Purchase Agreement (Atlantic Coast Airlines Inc), Purchase Agreement (Atlantic Coast Airlines Inc), Purchase Agreement (Atlantic Coast Airlines Inc)
Pooling of Parts. Any Part removed from the Aircraft, Airframe or any Engine as permitted provided in Section 8.01(a) hereof 8.2 may be subjected by the Lessee (or a Permitted Sublessee) to any a normal pooling arrangement customary in the U.S. airline industry and entered into with vendors and other Air Carriers in the ordinary course of the Lessee's businessbusiness of Lessee or such Permitted Sublessee, provided that the part so long as a Part replacing such removed Part shall be incorporated or installed in or attached to the Aircraft, Airframe or such Engine in accordance with Section 8 hereof, 8.2 as promptly as practicable after the removal of such removed Part. In addition, any replacement part Part when incorporated or installed in or attached to the Aircraft, SALE AND LEASE AGREEMENT 24 Airframe or any Engine in accordance with Section 8.01(a) hereof 8.2 may be owned by another Air Carrier any third party subject to such a normal pooling arrangement, provided that the Lesseeso long as Lessee (or any Permitted Sublessee), at its own cost and expense and expense, as promptly thereafter as possible, either:
practicable either (ai) causes title to such replacement part Part to vest in the Lessor in accordance with Section 8.01(b8.2 by Lessee (or any Permitted Sublessee) hereof by the Lessee acquiring title to such replacement part thereto for the benefit of, and transferring such title to, the Lessor free and clear of all Liens (other than Liens permitted under Section 6.01 hereofexcept Permitted Liens); or
, or (bii) replaces such replacement part Part by incorporating or installing in or attaching to the Aircraft, Airframe or such Engine a further replacement part Part owned by the Lessee (or any Permitted Sublessee) free and clear of all Liens (other than Liens permitted under Section 6.01 hereofexcept Permitted Liens) and by causing title to such further replacement part Part to vest in the Lessor in accordance with Section 8.01(b) hereof. All such replacement parts and further replacement parts shall meet the standards set forth in the last sentence of Section 8.01(a) hereof8.2.
Appears in 3 contracts
Samples: Sale and Lease Agreement (American Income Fund I-E), Sale and Lease Agreement (American Income Fund I-E), Sale and Lease Agreement (American Income Fund I-E)
Pooling of Parts. Any Part removed from the Airframe or any Engine as permitted provided in Section 8.01(a) hereof Clause 16.1 or 16.2 may be subjected by the Lessee to any a normal pooling arrangement customary in the U.S. airline industry and entered into with vendors and other Air Carriers in the ordinary course of the LesseeSublessee's business, provided that the part replacing such removed Part shall be incorporated or installed in or attached to the Airframe or such Engine in accordance with Section 8 hereof, Clause 16.1 and 16.2 as promptly soon as practicable after the removal of such removed Part. In additionWithout prejudice to the generality of the foregoing sentence, any replacement part Part when incorporated or installed in or attached to the Airframe or any Engine in accordance with Section 8.01(a) hereof may be owned by another Air Carrier a third person subject to such a normal pooling arrangement, provided that the LesseeSublessee, at its own cost and expense and expense, as promptly thereafter as possible, either:
either (a) causes title to such replacement part Part to vest in the Lessor Owner Trustee in accordance with Section 8.01(b) hereof by the Lessee acquiring title to such replacement part for the benefit of, Clause 16.1 and transferring such title to, the Lessor 16.2 free and clear of all Liens (other than Liens permitted under Section 6.01 hereof); or
Security Interests except Permitted Liens, or (b) replaces or procures the replacement of such replacement part Part by incorporating the incorporation or installing installation in or attaching attachment to the such Airframe or such Engine of a further replacement part owned by Part (which meets the Lessee requirements of this Clause 16) free and clear of all Security Interests except Permitted Liens (other than Liens permitted under Section 6.01 hereof) and by causing title to such further replacement part Part to vest in the Lessor Owner Trustee, subject to the Mortgage, in accordance with Section 8.01(b) hereof. All Clause 16.1 and 16.2 and such replacement parts and further replacement parts Part shall meet forthwith be deemed Part of the standards set forth Airframe or Engine to the same extent as the Part originally incorporated or installed in or attached to the last sentence of Section 8.01(a) hereofAirframe or such Engine and shall become a Part hereunder.
Appears in 3 contracts
Samples: Aircraft Sublease Agreement (Frontier Airlines Inc /Co/), Aircraft Sublease Agreement (Frontier Airlines Inc /Co/), Aircraft Sublease Agreement (Frontier Airlines Inc /Co/)
Pooling of Parts. Any Part removed from the Airframe or any Engine as permitted provided in Section 8.01(a11(c) hereof may be subjected by the Lessee (or any Permitted Sublessee) to any normal pooling arrangement arrangements customary in the U.S. airline industry and entered into with vendors and other Air Carriers in the ordinary course of the Lessee's business, (or any Permitted Sublessee's) business with a U.S. Air Carrier; provided that the part Part replacing such removed Part shall be incorporated or installed in or attached to the Airframe or such Engine Aircraft in accordance with Section 8 hereof, as promptly as practicable after 11(c) hereof immediately upon the removal of such removed Part. In addition, any replacement part Replacement Part when incorporated or installed in or attached to the Airframe or any Engine Aircraft in accordance with Section 8.01(a11(c) hereof may be owned by another U.S. Air Carrier subject to such a normal pooling arrangement, ; provided that Lessee (or any Permitted Sublessee) ensures that the LesseePart so removed remains the property of Lessor, and that Lessee (or any Permitted Sublessee), at its own cost and expense and as promptly as possibleexpense, either:
immediately thereafter either (ax) causes title to such replacement part Replacement Part to vest in the Lessor in accordance with Section 8.01(b) hereof by the Lessee acquiring title to such replacement part for the benefit of, and transferring such title to, the Lessor free and clear of all Liens and rights of others in accordance with Section 11(c) hereof, or (other than Liens permitted under Section 6.01 hereof); or
(by) replaces such replacement part Replacement Part by incorporating or installing in or attaching to the Airframe or such Engine Aircraft a further replacement part Replacement Part owned by the Lessee (or any Permitted Sublessee) free and clear of all Liens and rights of others (other than Liens permitted under Section 6.01 hereofexcept for any Lessor Liens) and by causing title to such further replacement part Replacement Part to vest in the Lessor in accordance with Section 8.01(b) hereof. All such replacement parts and further replacement parts shall meet the standards set forth in the last sentence of Section 8.01(a11(c) hereof.
Appears in 2 contracts
Samples: Aircraft Lease (Kitty Hawk Inc), Aircraft Lease (Kitty Hawk Inc)
Pooling of Parts. Any Part removed from the Airframe or any Engine as permitted in Section 8.01(a) hereof may be subjected by the Lessee to any normal pooling arrangement customary in the U.S. airline industry and entered into with vendors and other Air Carriers in the ordinary course of the Lessee's business, provided that the part Part replacing such removed Part shall be incorporated or installed in or attached to the Airframe or such Engine in accordance with Section 8 hereof, as promptly as practicable after the removal of such removed Part. In addition, any replacement part Part when incorporated or installed in or attached to the Airframe or any Engine in accordance with Section 8.01(a) hereof may be owned by another Air Carrier subject to such normal pooling arrangement, provided that the Lessee, at its own cost and expense and as promptly as possible, either:
(a) causes title to such replacement part Part to vest in the Lessor in accordance with Section 8.01(b) hereof by the Lessee acquiring title to such replacement part Part for the benefit of, and transferring such title to, the Lessor free and clear of all Liens (other than Liens permitted under Section 6.01 hereofhereof (other than clauses (d) and (f) thereof)); or
(b) replaces such replacement part Part by incorporating or installing in or attaching to the Airframe or such Engine a further replacement part Part owned by the Lessee free and clear of all Liens (other than Liens permitted under Section 6.01 hereofhereof (other than clauses (d) and (f) thereof)) and by causing title to such further replacement part Part to vest in the Lessor in accordance with Section 8.01(b) hereof. All such replacement parts Parts and further replacement parts Parts shall meet the standards set forth in the last sentence of Section 8.01(a) hereof.
Appears in 1 contract
Pooling of Parts. Any Part removed from the Airframe or any Engine as permitted in Section 8.01(a) hereof may be subjected by the Lessee to any normal pooling arrangement customary in the U.S. airline industry and entered into with vendors and other Air Carriers in the ordinary course of the Lessee's business, provided that the part Part replacing such removed Part shall be incorporated or installed in or attached to the Airframe or such Engine in accordance with Section 8 hereof, as promptly as practicable after the removal of such removed Part. In addition, any replacement part Part when incorporated or installed in or attached to the Airframe or any Engine in accordance with Section 8.01(a) hereof may be owned by another Air Carrier subject to such normal pooling arrangement, provided that the Lessee, at its own cost and expense and as promptly as possible, either:
(a) causes title to such replacement part Part to vest in the Lessor in accordance with Section 8.01(b) hereof by the Lessee acquiring title to such replacement part Part for the benefit of, and transferring such title to, the Lessor free and clear of all Liens (other than Liens permitted under Section 6.01 hereof); or
(b) replaces such replacement part Part by incorporating or installing in or attaching to the Airframe or such Engine a further replacement part Part owned by the Lessee free and clear of all Liens (other than Liens permitted under Section 6.01 hereof) and by causing title to such further replacement part Part to vest in the Lessor in accordance with Section 8.01(b) hereof. All such replacement parts Parts and further replacement parts Parts shall meet the standards set forth in the last sentence of Section 8.01(a) hereof.
Appears in 1 contract
Pooling of Parts. Any Part removed from the Airframe or any an Engine as permitted provided in Section 8.01(a8(a) hereof may be subjected by the Lessee to any a normal pooling arrangement customary in the U.S. airline industry and entered into with vendors and other Air Carriers in the ordinary course of the Lessee's business, business with Permitted Air Carriers; provided that the part Part replacing such removed Part shall be incorporated or installed in or attached to the Airframe or such Engine in accordance with Section 8 hereof, 8(a) as promptly as practicable after the removal of such removed Part. In addition, any replacement part Part when incorporated or installed in or attached to the Airframe or any an Engine in accordance with Section 8.01(a8(a) hereof may be owned by another a Permitted Air Carrier subject to such a normal pooling arrangement, ; provided that the Lessee, at its own cost and expense and expense, as promptly thereafter as possiblepracticable, either:
either (ai) causes title to such replacement part Part to vest in the Lessor in accordance with Section 8.01(b8(a) hereof by the Lessee acquiring title to such replacement part thereto for the benefit of, and transferring such title to, the Lessor Lessor, free and clear of all Liens (other than Liens permitted under Section 6.01 hereof); or
Permitted Liens) or (bii) replaces such replacement part Part by incorporating or installing in or attaching to the Airframe or such Engine a further replacement part Part owned by the Lessee free and clear of all Liens (other than Liens permitted under Section 6.01 hereofPermitted Liens) and by causing title to such further replacement part Part to vest in the Lessor in accordance with Section 8.01(b) hereof. All such replacement parts and further replacement parts shall meet the standards set forth in the last sentence of Section 8.01(a) hereof8(a).
Appears in 1 contract