Common use of Pooling of Parts Clause in Contracts

Pooling of Parts. Lessee shall not permit any Part to become subject to pooling or interchange arrangements, or allow any Part to go out of its possession pursuant to any such arrangement, except pursuant to an arrangement whereby: (a) a record of the location of any Part will be kept and made available to Lessor at any time on request; and (b) title to the Part which has been replaced shall (if previously vested in Lessor) remain with Lessor until the Part which replaced it becomes the property of Lessor or is replaced by a Part which thereupon becomes the property of Lessor, and at which time, the title to the Part which has been replaced will pass to Lessee. Lessee agrees that, unless otherwise agreed to in writing by Lessor, Lessee shall limit the time during which any Part which is not the property of Lessor remains on the Aircraft and will as soon as practicable replace the same with a Part which either is the property of Lessor, or will, upon fitting, become the property of Lessor.

Pooling of Parts. Lessee shall not permit any Part to become subject to pooling or interchange arrangements, or allow any Part to go out of its possession pursuant to any such arrangement, except pursuant to an arrangement whereby: (a) a record of the location of any Part will be kept and made available to Lessor at any time on request; and (b) title to the Part which has been replaced shall (if previously vested in Lessor) remain with Lessor Owner until the Part which replaced it becomes the property of Lessor Owner or is replaced by a Part which thereupon becomes the property of LessorOwner, and at which time, the title to the Part which has been replaced will pass to Lessee. Lessee agrees that, unless otherwise agreed to in writing by Lessor, Lessee shall limit the time during which any Part which is not the property of Lessor Owner remains on the Aircraft and will as soon as practicable replace the same with a Part which either is the property of LessorOwner, or will, upon fitting, become the property of LessorOwner.

Pooling of Parts. Lessee shall not permit any Part to become subject to pooling or interchange arrangements, or allow any Part to go out of its possession pursuant to any such arrangement, except pursuant to an arrangement wherebywhereby Lessee may subject any Part to pooling arrangements or interchange agreements entered into by Lessee, on terms that are customary in the airline industry (in each case, a Permitted Interchange Agreement”), provided always that: (a) a record of the location of any Part will be kept and made available to Lessor at any time on request; and; (b) title to the Part which has been replaced shall (if previously vested in Lessor) remain with Lessor until the Part which replaced it becomes the property of Lessor or is replaced by a Part which thereupon becomes the property of Lessor; and (c) any part which replaces a Part pursuant to such interchange agreement shall, and at which timea minimum, meet the title to the Part which has been replaced will pass to Lesseerequirements of a Replacement Part. Lessee agrees that, unless otherwise agreed to in writing by Lessor, Lessee shall limit the time during which any Part which is not the property of Lessor remains on the Aircraft and will as soon as practicable replace the same with a Part which either is the property of Lessor, or will, upon fitting, become the property of Lessor.