Replacement of Airframe and Engines. (a) If Lessee elects, in accordance with Section 10.1.1, to replace the Airframe, and any Engines actually suffering the Event of Loss, then Lessee shall, as promptly as possible and in any event within 120 days after the occurrence of such Event of Loss, convey or cause to be conveyed to Lessor, in compliance with Section 10.3 and as replacement for the Airframe, and any such Engine, title to a Replacement Airframe (which shall comply with paragraph (b) below), and for each such Engine a Replacement Engine, in each case free and clear of all Liens other than Permitted Liens. If Lessee makes such election, but for any reason fails or is unable to effect such replacement within such time period and in compliance with the requirements set forth in Section 10.3, then Lessee shall be deemed to have initially made the election set forth in Section 10.1.2 with the effect that Lessee shall immediately pay, in the manner and in funds of the type specified in Section 3.3, the amounts required under, and in accordance with, Section 10.1.2.
(b) Any such Replacement Airframe shall be an airframe that is the same model as the Airframe to be replaced thereby, or an improved model, and that has a value, utility and remaining useful life (without regard to hours or cycles remaining until the next regular maintenance check), at least equal to the Airframe to be replaced thereby (assuming that such Airframe had been maintained in accordance with the Lease). Any such Replacement Engine shall meet the requirements of, and be conveyed by Lessee to Lessor in accordance with, Section 10.2 (other than the notice requirement set forth in Section 10.2.1).
Replacement of Airframe and Engines. 28 Section 11.04. Event of Loss with Respect to an Engine................. 32 Section 11.05. Application of Payments from the Government or Others... 34 Section 11.06. Requisition of an Airframe and the Installed Engines for Use by Government....................................... 35 Section 11.07. Requisition for Use by Government of an Engine Not Installed on the Airframe............................... 36 Section 11.08. Application of Payments During Existence of Certain Defaults................................................ 36
Replacement of Airframe and Engines. If such amounts are received with respect to the Airframe, and any Engine installed thereon at the time of such Event of Loss, upon compliance by Lessee with the applicable terms of Section 10.1.3 with respect to the Event of Loss for which such amounts are received, such amounts shall be paid over to, or retained by, Lessee.
Replacement of Airframe and Engines. As promptly as practicable, and in any event on or before the Business Day next preceding the 180th day following the date of occurrence of such Event of Loss, Lessee shall, in compliance with Section 10.1.6, convey or cause to be conveyed to Lessor, to be leased by Lessee hereunder in replacement thereof, a Replacement Airframe (which need not be a new Replacement Airframe but shall have been placed in service not earlier than January 1, 1994) together with the same number of Replacement Engines as the Engines, if any, subject to such Event of Loss, such Replacement Airframe and Replacement Engines to be free and clear of all Liens (except Permitted Liens), to have a value, remaining useful life and utility at least equal to, and to be in as good operating condition as, the Airframe and Engines, if any, so replaced (for such purpose, it shall be assumed that the Airframe and such Engines were in the condition and repair required by the terms of this Lease). If Lessee shall not effect such replacement hereunder on or before the Business Day next preceding the 150th day following the date of the occurrence of such Event of Loss, then Lessee shall immediately deposit with Lessor, in the manner and in funds of the type specified in Section 3.6, an amount equal to the excess of the Stipulated Loss Value for the Aircraft over any funds then being held by Lessor or the Indenture Trustee with respect to such Event of Loss. If Lessee shall not perform its obligation to effect such replacement hereunder on or before the Business Day next preceding the 180th day following the date of the occurrence of such Event of Loss, then Lessee shall immediately pay to Lessor, in the manner and in funds of the type specified in Section 3.6, the aggregate amount specified in clauses (A), (B) and (C) of Section 10.1.3, net of any amount deposited with Lessor pursuant to the next preceding sentence of this Section 10.1.2.
Replacement of Airframe and Engines. If such payments are received with respect to the Airframe and the Engines (or engines) installed on the Airframe that have been or are being replaced by Lessee pursuant to Section 10.1 (other than Section 10.1.3), such payments shall be paid over to, or retained by, Indenture Trustee or, if the Trust Indenture is no longer in effect, Lessor, and upon completion of such replacement be paid over to Lessee, provided Lessee shall have fully performed or, concurrently therewith will fully perform, the terms of Section 10.1 with respect to the Event of Loss for which such payments are made.
Replacement of Airframe and Engines. If such amounts are received with respect to the Airframe or any Engine(s) installed thereon at the time of such Event of Loss, upon Lessee's compliance with the applicable terms of ss.
Replacement of Airframe and Engines. (a) If Lessee elects, in accordance with ss.
10.1.1 to replace the Airframe and any Engine(s) suffering the Event of Loss, then Lessee shall, as promptly as possible and in any event within 120 days after the occurrence of such Event of Loss, convey or cause to be conveyed to Lessor, in compliance with ss. 10.3 and aS replacement for the Airframe and any such Engine(s), title to a Replacement Airframe (which shall comply with ss. 10.1.3(b)), and for each such Engine a Replacement Engine, in each case free and clear of all Liens other thaN Permitted Liens (PROVIDED, that if such conveyance occurs after the end of the Term, Lessee shall pay rent for the Aircraft from the end of the Term until return thereof pursuant to ss. 5 at a daily rate equal to the averagE daily Basic Rent or Renewal Rent, as applicable, over the Base Term or then-expiring Renewal Term, as applicable). If Lessee makes such election, but for any reason does not effect such replacement within such time period and in compliance with the requirements set forth in ss. 10.3, then Lessee shall be deemed to have initiallY made the election set forth in ss.
10.1.2 with the effect that Lessee shall pay, in the manner and in funds of thE type specified in ss. 3.3, the amounts required under, and in accordance with, ss.
Replacement of Airframe and Engines. If such amounts are received with respect to the Airframe or any Engine(s) installed thereon at the time of such Event of Loss, upon Lessee’s compliance with the applicable terms of § 9 with respect to the Event of Loss for which such amounts are received, such amounts shall, subject to § 9.9, be paid over to, or (if received by Lessee after such compliance) retained by, Lessee.
Replacement of Airframe and Engines. If Lessee elects, in accordance with Section 10.1.1, to replace the Airframe, and any Engine actually suffering the Event of Loss, then Lessee shall, as promptly as possible and in any event within 120 days after the occurrence of such Event of Loss, convey or cause to be conveyed to Lessor, in compliance with Section 10.3 and as replacement for the Airframe, and any such Engine, title to a Replacement Airframe (which shall comply with paragraph (b) below), and for each such Engine a Replacement Engine, in each case free and clear of all Liens other than Permitted Liens. If Lessee makes such election, but for any reason fails or is unable to effect such replacement within such time period and in compliance with the requirements set forth in Section 10.3, then Lessee shall be deemed to have initially made the election set forth in Section 10.1.2 with the effect that Lessee shall immediately pay, in the manner and in funds of the type specified in Section 3.3, the amounts required under, and in accordance with, Section 10.1.2.
Replacement of Airframe and Engines. If such payments are received with respect to the Airframe and the Engines (or engines) installed on the Airframe that have been or are being replaced by Lessee pursuant to Section 10.1 (other than Section 10.1.3), such
