Common use of Replacement Airframes and Replacement Engines Clause in Contracts

Replacement Airframes and Replacement Engines. (a) Event of Loss with Respect to the Aircraft. Upon the occurrence of an Event of Loss with respect to the Airframe or the Airframe and the Engines and/or engines then installed thereon, Owner shall forthwith (and in any event, within fifteen (15) days after such occurrence) give the Indenture Trustee written notice of such Event of Loss, and, within sixty (60) days after such Event of Loss, Owner shall give the Indenture Trustee written notice of its election to perform one of the following options (it being agreed that if Owner shall not have given such notice of election within such period, Owner shall be deemed to have elected the option set forth in clause (i) below). Owner may elect either to:

Appears in 5 contracts

Samples: Indenture and Security Agreement (Us Airways Inc), Indenture and Security Agreement (Us Airways Inc), Indenture and Security Agreement (Us Airways Inc)

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