Removal, Pooling and Interchange of Engines, Propellers, and Landing Gear Sample Clauses

Removal, Pooling and Interchange of Engines, Propellers, and Landing Gear. Lessee may permit any Engine, Propeller, or Landing Gear to be installed on another aircraft and removed from the Airframe and stored or allow any engine, propeller, or landing gear to be installed on the Airframe pursuant to an interchange agreement within Lessee’s fleet provided (i) no Event of Default shall have occurred and be continuing, (ii) such engine, propeller, or landing gear installed on the Airframe is leased to or is owned by Lessee, (iii) any Engine, Propeller, or Landing Gear removed from the Airframe (a “Removed Component”) is, during the period of substitution, either being safely housed and sheltered under an approved care of maintenance program, being repaired or maintained in accordance with this Agreement, is installed on another aircraft owned or operated by Lessee pursuant to an Approved Pooling Agreement (and the provisions of Section 11.7 concerning preservation of title shall apply to the Removed Component); provided, however, that Lessee shall immediately notify Lessor of any detention by the Aviation Authority of any aircraft on which a Removed Component is installed or the creation of any lien over any aircraft on which a Removed Component is installed whether in favor of the Aviation Authority or any other person, (iv) each lease or other agreement pursuant to which Lessee in possession of a Removed Component from time to time operates or finances any aircraft contains provisions that are consistent with the maintenance at all times of the interests of Lessor and any Lender in each Removed Component while such Removed Component is installed on such aircraft, and that in particular do not state or require that any Removed Component that is installed on such aircraft shall become the property of the lessor or owner of, or person having a lien on, such aircraft, (v) Lessee maintains or causes to be maintained separate insurance in accordance with Article 13 of this Agreement in respect of the Removed Component at all times while it is removed from the Airframe (and, if required by Lessor, Lessee shall furnish or cause to be furnished to Lessor waivers or acknowledgments by the insurers of the aircraft on which the Removed Component is installed) and (vi) as soon as reasonably practicable and in any event on or before expiration or termination of the Lease Period each Removed Component is reinstalled on the Airframe.
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