Common use of Possession and Leases Clause in Contracts

Possession and Leases. The Owner will not, without the prior written consent of the Indenture Trustee, lease or otherwise in any manner deliver, transfer or relinquish possession of the Airframe or any Engine or install or permit any Engine to be installed on any airframe other than the Airframe or enter into any Wet Lease; provided that, so long as no Default of the type referred to in Section 4.01(a) or 4.01(e) or Event of Default shall have occurred and be continuing at the time of such lease, delivery, transfer or relinquishment of possession or installation or such Wet Lease, and so long as the action to be taken shall not deprive the Indenture Trustee of the perfected first priority Lien of this Trust Indenture on the Airframe or (subject to the further proviso (B) to clause (i) of this Section 7.02(b)) any Engine, and so long as the Owner (or any Lessee) shall comply with the provisions of Sections 7.02(a) and 7.04 hereof, the Owner (or, except with respect to clause (x) below, any Lessee) may, without the prior written consent of the Indenture Trustee:

Possession and Leases. The Owner will not, without the prior written consent of the Indenture Trustee, lease or otherwise in any manner deliver, transfer or relinquish possession of the Airframe or any Engine or install or permit any Engine to be installed on any airframe other than the Airframe or enter into any Wet Lease; provided PROVIDED that, so long as no Default of the type referred to in Section 4.01(a) or 4.01(e) or Event of Default shall have occurred and be continuing at the time of such lease, delivery, transfer or relinquishment of possession or installation or such Wet Lease, and so long as the action to be taken shall not deprive the Indenture Trustee of the perfected first priority Lien of this Trust Indenture on the Airframe or (subject to the further proviso (B) to clause (i) of this Section 7.02(b)) any Engine, and so long as the Owner (or any Lessee) shall comply with the provisions of Sections 7.02(a) and 7.04 hereof, the Owner (or, except with respect to clause (x) below, any Lessee) may, without the prior written consent of the Indenture Trustee: