Common use of Possession of Aircraft Clause in Contracts

Possession of Aircraft. If an Event of Default shall have occurred and be continuing, the Mortgagee may, without notice, take possession of all or any part of the Aircraft and may exclude the Grantor and all persons claiming under the Grantor wholly or partly therefrom. If an Event of Default shall have occurred and be continuing, at the request of the Mortgagee, the Grantor shall promptly deliver or cause to be delivered to the Mortgagee or to whomsoever the Mortgagee shall designate, at such time or times and place or places as the Mortgagee may specify, and fly or cause to be flown to such airport or airports in the continental United States as the Mortgagee may specify, without risk or expense to the Mortgagee, all or any part of the Aircraft specified by the Mortgagee. In addition, without the necessity of any demand upon the Grantor, the Mortgagee may, without being responsible for loss or damage, except to the extent caused by the gross negligence or willful misconduct of the Mortgagee, (i) obtain a judgment conferring on the Mortgagee the right to immediate possession or requiring the Grantor to deliver immediate possession of all or part of such Aircraft to the Mortgagee, to the entry of which judgment the Grantor hereby specifically consents, and/or (ii) with or, to the fullest extent provided by law, without such judgment, pursue all or any part of such Aircraft wherever they may be found and enter any of the premises of the Grantor where such Aircraft may be and search for such Aircraft and take possession of and remove the same. The Grantor agrees to pay to the Mortgagee, all expenses incurred in taking any such action; and all such expenses shall, until paid, be secured by the lien and security interest of this Mortgage. Upon every such taking of possession, the Mortgagee may, from time to time, make all such reasonable expenditures for maintenance, insurance, repairs, replacements, alterations and additions to and of the Aircraft as it may deem proper and such expenditures shall constitute obligations secured hereby.

Possession of Aircraft. If an Event of Default shall have occurred and be continuing, the Mortgagee The Collateral Agent may, without notice, take possession of all or any part of the Aircraft Collateral and may exclude the Grantor Debtor, and all persons claiming under the Grantor Debtor, wholly or partly therefrom. If an Event of Default shall have occurred and be continuing, at At the request of the MortgageeCollateral Agent, the Grantor Debtor shall promptly deliver or cause to be delivered to the Mortgagee Collateral Agent or to whomsoever whosoever the Mortgagee Collateral Agent shall designate, at such time or times and place or places as the Mortgagee Collateral Agent may specify, and fly or cause to be flown to such airport or airports in the continental United States as the Mortgagee Collateral Agent may specify, without risk or expense to the MortgageeCollateral Agent or any Secured Creditor, all or any part of the Aircraft specified by the MortgageeCollateral. In addition, Debtor will provide, without cost or expense to the necessity of Collateral Agent, storage facilities for such Collateral. If Debtor shall for any reason fail to deliver such Collateral or any part thereof after demand upon by the GrantorCollateral Agent, the Mortgagee Collateral Agent may, without being responsible for loss or damage, except to the extent caused by the gross negligence or willful misconduct of the Mortgagee, (i) obtain a judgment conferring on the Mortgagee Collateral Agent the right to immediate possession or requiring the Grantor Debtor to deliver immediate possession of all or part of such Aircraft Collateral to the MortgageeCollateral Agent, to the entry of which judgment the Grantor Debtor hereby specifically consents, and/or or (ii) with or, to the fullest extent provided by law, without such judgment, pursue all or any part of such Aircraft Collateral wherever they it may be found and may enter any of the premises of the Grantor Debtor where such Aircraft Collateral may be and search for such Aircraft Collateral and take possession of and remove the same. The Grantor Debtor agrees to pay to the MortgageeCollateral Agent, upon demand, all expenses incurred in taking any such action; and all such expenses shall, until paid, be secured by the lien and security interest Lien of this MortgageAgreement. Upon every such taking of possession, the Mortgagee Collateral Agent may, from time to time, make all such reasonable expenditures for maintenance, insurance, repairs, replacements, alterations alterations, additions and additions improvements to and of the Aircraft Collateral, as it may deem proper and such expenditures shall constitute obligations secured herebyproper.

Possession of Aircraft. If an Event of Default shall have occurred and be continuing, the Mortgagee may, without notice, take possession of all or any part of the Aircraft and may exclude the Grantor Grantor, and all persons claiming under the Grantor Grantor, wholly or partly therefrom. If an Event of Default shall have occurred and be continuing, at the request of the Mortgagee, the Grantor shall promptly deliver or cause to be delivered to the Mortgagee or to whomsoever the Mortgagee shall designate, at such time or times and place or places as the Mortgagee may specify, and fly or cause to be flown to such airport or airports in the continental United States as the Mortgagee may specify, without risk or expense to the Mortgagee, all or any part of the Aircraft specified by the Mortgagee. In addition, the Grantor will provide, without cost or expense to the Mortgagee, storage facilities for the Aircraft. In addition, without the necessity of any demand upon the Grantor, the Mortgagee may, without being responsible for loss or damage, except to the extent caused by the gross negligence or willful wilful misconduct of the Mortgagee, (i) obtain a judgment conferring on the Mortgagee the right to immediate possession or requiring the Grantor to deliver immediate possession of all or part of such Aircraft to the Mortgagee, to the entry of which judgment the Grantor hereby specifically consents, and/or (ii) with or, to the fullest extent provided by law, without such judgment, pursue all or any part of such Aircraft wherever they may be found and enter any of the premises of the Grantor where such Aircraft may be and search for such Aircraft and take possession of and remove the same. The Grantor agrees to pay to the Mortgagee, all expenses incurred in taking any such action; and all such expenses shall, until paid, be secured by the lien and security interest of this Mortgage. Upon every such taking of possession, the Mortgagee may, from time to time, make all such reasonable expenditures for maintenance, insurance, repairs, replacements, alterations alterations, additions and additions improvements to and of the Aircraft as it may deem proper and such expenditures shall constitute obligations secured hereby.