Common use of Removal of Airline Property Clause in Contracts

Removal of Airline Property. (a) The property owned and placed or installed by [AIRLINE] at the Airport shall remain the property of [AIRLINE] and must be removed on or before the expiration of the Term or the expiration of any extension or renewal of the Term at [AIRLINE]’s sole risk and expense. The cost of restoring the Airport, the structure or any fixtures located therein resulting from damage relating to such removal shall be paid for by [AIRLINE]. In the event of the termination of this Agreement, [AIRLINE] shall have 30 days after such termination during which to remove such property; provided that the Lessee shall have the right to assert such lien or liens against the property as the Lessee may by law be permitted, other than liens on aircraft or ground service equipment. After [AIRLINE] has removed all such property or the 30-day period described in the preceding sentence expires, the Lessee and [AIRLINE] shall conduct a walk-through inspection to evaluate the removal of property and the condition of the premises. So long as any such property remains at the Airport, [AIRLINE]’s obligation to pay its Exclusive Use Rent shall continue. (b) If [AIRLINE]’s property is not removed as herein provided, the Lessee may, at its option, deem such property abandoned and keep such property or, after notice to [AIRLINE] and at [AIRLINE]’s sole risk and expense, remove such property to a public warehouse for deposit, or retain the same in the Lessee’s possession and after the expiration of 30 days sell the same, with notice and in accordance with applicable Law, the proceeds of which shall be applied first to the expenses of such removal and sale, second to any sum owed by [AIRLINE] to the Lessee, and any balance remaining shall be paid to [AIRLINE].

Removal of Airline Property. (a) The property owned and placed or installed by [AIRLINE] at the Airport shall remain the property of [AIRLINE] and must be removed on or before the expiration of the Term or the expiration of any extension or renewal of the Term at [AIRLINE]’s sole risk and expense. The cost of restoring the Airport, the structure or any fixtures located therein resulting from damage relating to such removal shall be paid for by [AIRLINE]. In the event of the termination of this Agreement, [AIRLINE] shall have 30 days after such termination during which to remove such property; provided that the Lessee Aerostar shall have the right to assert such lien or liens against the property as the Lessee Aerostar may by law be permitted, other than liens on aircraft or ground service equipment. After [AIRLINE] has removed all such property or the 30-day period described in the preceding sentence expires, the Lessee Aerostar and [AIRLINE] shall conduct a walk-through inspection to evaluate the removal of property and the condition of the premises. So long as any such property remains at the Airport, [AIRLINE]’s obligation to pay its Exclusive Use Rent shall continue. (b) If [AIRLINE]’s property is not removed as herein provided, the Lessee Aerostar may, at its option, deem such property abandoned and keep such property or, after notice to [AIRLINE] and at [AIRLINE]’s sole risk and expense, remove such property to a public warehouse for deposit, or retain the same in the LesseeAerostar’s possession and after the expiration of 30 days sell the same, with notice and in accordance with applicable Law, the proceeds of which shall be applied first to the expenses of such removal and sale, including costs of restoration, second to any sum owed by [AIRLINE] to the LesseeAerostar, and any balance remaining shall be paid to [AIRLINE]. If [AIRLINE] has deposited a security deposit with Aerostar in accordance with Section 3.9 hereof, Aerostar may retain the Security Deposit until such time as any amount due from [AIRLINE] for all expenses for the removal and sale of [AIRLINE]’s property have been determined and paid in full. Aerostar may immediately deduct restoration expenses and the cost of removal and sale of such property from the Security Deposit.