Removal of parts. The Borrower shall not remove any material part of the Ship, or any item of equipment installed on the Ship, unless the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed, is free from any Security Interest or any right in favour of any person other than the Lender and becomes on installation on the Ship the property of the Borrower and subject to the security constituted by the Mortgage Provided that the Borrower may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship.
Removal of parts. The Borrower shall procure that no Owner shall remove any material part of the Ship owned by it, or any item of equipment installed on, the Ship unless the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed, is free from any Security Interest or any right in favour of any person other than the Security Trustee and becomes on installation on the Ship the property of the Owner and subject to the security constituted by the Mortgage and if applicable, the Deed of Covenant, relative to the Ship Provided that the Owner may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship.
Removal of parts. Except with approval, no material part of the Ship or any equipment shall be removed from the Ship if to do so would materially reduce its value (unless at the same time it is replaced with equivalent parts or equipment owned by the relevant Owner free of any Security Interest except under the Security Documents).
Removal of parts. The Borrower shall procure that each Guarantor shall not remove any material part of the Ship owned by it, or any item of equipment installed on that Ship, unless the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed, is free from any Security Interest or any right in favour of any person other than the Lender and becomes on installation on that Ship, the property of the relevant Guarantor, and subject to the security constituted by the Mortgage and the Deed of Covenant relating to that Ship Provided that the relevant Guarantor may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by it.
Removal of parts. Except as otherwise provided herein, any Part at any time removed from the Airframe or any Engine shall remain subject to the Lien of this Mortgage, no matter where located, until it is replaced by a part that has been incorporated or installed in or attached to such Airframe or any Engine and that meets the requirements for replacement parts specified above. Except with respect to replacement parts installed in or attached to the Airframe or any Engine on a temporary basis, as soon as a replacement part is incorporated or installed in or attached to the Airframe or any Engine as provided in Section 4.4(a), without further act, (1) the replaced part shall thereupon be free and clear of all rights of Security Agent and shall no longer be a Part hereunder, and (2) such replacement part shall become a Part hereunder and subject to this Mortgage and be part of such Airframe or Engine for all purposes hereof to the same extent as the Parts originally incorporated or installed in or attached to such Airframe or Engine.
Removal of parts. Notwithstanding the foregoing, so long as no Default shall have occurred and be continuing, Sublessee may remove, or permit the removal of, at any time during the Sublease Term, any Part, provided that (a) such Part is in addition to, and not in replacement of or substitution for, any Part originally incorporated or installed in or attached to the Airframe or any Engine at the time of Delivery or in replacement of, or substitution for, any such Part, (b) such Part is not required to be incorporated or installed in or attached or added to the Airframe or such Engine pursuant to the terms of Clause 16.4 or 16.5, and (c) such Part can be removed from the Airframe or such Engine without causing damage to the Airframe or such Engine or if it causes any such damage is to be repaired and promptly thereafter is repaired and without diminishing or impairing the value, utility, condition or airworthiness required to be maintained by the terms of this Agreement that the Airframe or such Engine would have had at such time had such alteration, modification or addition not occurred assuming it was in the condition and repair required to be maintained under this Agreement. Upon the removal of any Part as provided in the immediately preceding sentence and the removal of any Obsolete Part, title thereto shall, without further act, vest in Sublessee, free and clear of all rights of Owner Trustee, Lender and Sublessor and such Part shall no longer be deemed part of the Airframe or Engine from which it was removed. Any Part not so removed shall remain the property of Owner Trustee, subject to the Mortgage.
Removal of parts. None of the Borrowers shall remove any material part of any Borrower Ship, or any item of equipment installed on, any Borrower Ship unless the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed, is free from any Security Interest or any right in favour of any person other than the Security Trustee and becomes on installation on the relevant Borrower Ship the property of the relevant Borrower and subject to the security constituted by the relevant Mortgage Provided that a Borrower may install and, subject to the Agent’s consent, remove (such consent not to be unreasonably withheld or delayed, if such removal will not, in the opinion of the Agent, affect the value of the Borrower Ship) equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by it.
Removal of parts. Each Borrower shall not remove any material part of the Ship owned by that Borrower, or any item of equipment installed on, that Ship unless the part or item so removed is replaced in a timely manner by a suitable part or item which is in the same condition as or better condition than the part or item removed, is free from any Security Interest or any right in favour of any person other than the Security Trustee and, if it was the property of that Borrower prior to its removal, becomes on installation on that Ship the property of that Borrower and subject to the security constituted by the relevant Mortgage Provided that each Borrower may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by that Borrower and provided further that that Borrower can remove obsolete equipment or equipment no longer required to ensure compliance with the rules and regulations of the Approved Classification Society of that Ship.
Removal of parts. The relevant Security Party shall not remove any material part of the Ship owned by it, or any item of equipment owned by it installed on, that Ship unless the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed, is free from any Security Interest or any right in favor of any person other than the Security Trustee and becomes on installation on that Ship the property of that Security Party and subject to the security constituted by the Mortgage (and Deed of Covenant where applicable), provided that the relevant Security Party may install and remove equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by it.
Removal of parts. All Parts incorporated in the Facility to which the Lessee (or any other Person other than the Lessor) shall have title pursuant to the provisions of Section 6.08 hereof may, (a) subject to any right of the Lessor to use such Part as provided herein and (b) so long as such removal shall be permitted by this Agreement and shall not result in any violation of any law or governmental regulation and (c) so long as no Default or Event of Default shall have occurred and be continuing, be removed at any time by the Lessee (or such other Person) and shall be removed by the Lessee (or the Lessee shall cause such other Person so to remove such Parts) prior to the delivery of the Facility to the Lessor in accordance with the provisions of the Lease Agreement, other than upon the termination of this Lease Agreement pursuant to Article XIV hereof, and title to such Parts shall at all times remain in the Lessee (or such other Person).
