Common use of Pooling of Parts Clause in Contracts

Pooling of Parts. Any Part removed from the Airframe or any Engine as provided in paragraph (a) of this Section 7.03 may be subjected by Owner (or any Lessee) to a normal pooling arrangement customary in the airline industry of which Owner (or, if a Lease is then in effect, any Lessee) is a party entered into in the ordinary course of Owner's (or any Lessee's) business; provided that the Part replacing such removed Part shall be incorporated or installed in or attached to such Airframe or Engine in accordance with such paragraph (a) 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 such paragraph (a) may be owned by any third party subject to such a normal pooling arrangement, provided that Owner (or any Lessee), at its expense, as promptly thereafter as practicable, either (i) causes title to such replacement Part to vest in Owner in accordance with such paragraph (a) free and clear of all Liens except Permitted Liens (other than pooling arrangements) or (ii) replaces such replacement Part by incorporating or installing in or attaching to the Airframe or Engine a further replacement Part owned by Owner (or any Lessee) free and clear of all Liens except Permitted Liens (other than pooling arrangements) and by causing title to such further replacement Part to vest in Owner in accordance with such paragraph (a).

Pooling of Parts. Any Part removed from the Airframe or any an Engine as provided in paragraph subsection (a) of this Section 7.03 may be subjected by Owner (Lessee or any Lessee) a Person permitted hereunder to be in possession of the Aircraft to a normal pooling arrangement customary in the airline industry of which Owner (or, if a Lease is then in effect, any Lessee) is a party entered into in the ordinary course of Owner's (Lessee’s or any Lessee's) such other Person’s business; provided that the Part a part replacing such removed Part shall be incorporated or installed in or attached to such the Airframe or such Engine in accordance with such paragraph subsection (a) as promptly as practicable after the removal of such removed Part, but in any case before the last day of the Term. In addition, any replacement Part when incorporated or installed in or attached to the Airframe or any an Engine in accordance with such paragraph subsection (a) may be owned by any a third party subject to such a normal pooling arrangement, ; provided that Owner (or any Lessee), at its expense, as promptly thereafter as practicable, either (i) causes title to such replacement Part to vest in Owner Lessor in accordance with such paragraph subsection (a) by Lessee (or any such Person) acquiring title thereto for the benefit of, and transferring such title to, Lessor free and clear of all Liens except Permitted Liens (other than pooling arrangementsPermitted Liens) or (ii) replaces or causes to be replaced such replacement Part by incorporating or installing in or attaching to the Airframe or such Engine a further replacement Part owned by Owner Lessee (or any Lesseesuch Person) free and clear of all Liens except Permitted Liens (other than pooling arrangementsPermitted Liens) and otherwise satisfying the requirements of subsection (a) above, and by causing title to such further replacement Part to vest in Owner Lessor in accordance with such paragraph subsection (a).