Common use of Replacement of Leases Clause in Contracts

Replacement of Leases. Within thirty (30) days after the commencement of the leasing of a Pool Aircraft under any replacement Lease (or such longer period as may be provided in the Express Perfection Requirements or elsewhere in this Agreement in the case of a Lessee Acknowledgment), the relevant Grantor shall comply with the provisions of Sections 2.06(a), 2.08(c), 2.08(d) and 2.15 of this Agreement, as applicable, and shall deliver the following to the Security Trustee: (i) the Chattel Paper Original, if any, of such replacement Lease if the Pool Aircraft to which it pertains is not registered in the United States, if such Chattel Paper Original is required to be delivered by such Grantor to the Security Trustee pursuant to Section 2.05; (ii) a notice of assignment substantially in the form attached hereto as Exhibit E-1 or of a notice of assignment delivered on or prior to the Effective Date in connection with an Assigned Lease or such other form as is provided in the applicable Lease or as such Grantor may determine in accordance with Leasing Company Practice (a “Lessee Notice”). When required under the Express Perfection Requirements, such Grantor shall deliver to the Security Trustee a lessee acknowledgment substantially in the form attached hereto as Exhibit E-2 or a form of lessee acknowledgment delivered in connection with a Lessee Notice delivered on or prior to the Effective Date in connection with an Assigned Lease or such other form as is provided in the applicable Lease or as such Grantor may accept pursuant to the Express Perfection Requirements or in accordance with Leasing Company Practice (a “Lessee Acknowledgment”) addressed to, or for the benefit of, the Security Trustee with respect to such Lease; (iii) certificates of insurance from qualified brokers of aircraft insurance (or other evidence satisfactory to the Security Trustee), evidencing all insurance required to be maintained by the applicable Lessee, together with the endorsements required pursuant to Section 2.17 and Schedule V of this Agreement; (iv) a copy of such Lease and a Collateral Supplement (if any); and (v) copies of such legal opinions with regard to compliance with the registration requirements of the relevant jurisdiction, enforceability of such Lease and such other matters customary for such transactions, in each case to the extent that receiving such legal opinions is consistent with Leasing Company Practice.

Replacement of Leases. Within thirty (30) days after the commencement Upon execution of the leasing of a Pool Aircraft under any replacement Lease (or such longer period as may be provided in the Express Perfection Requirements or elsewhere in this Agreement in the case of a Lessee Acknowledgment)Lease, the relevant Grantor shall comply with the provisions of Sections 2.06(a), 2.08(c), 2.08(d) 2.06 and 2.15 2.08 of this Agreement, as applicable, and shall deliver the following to the Security TrusteeCollateral Agent: (i) the Chattel Paper Original, if any, of such replacement Lease if the Pool Aircraft to which it pertains is not registered in the United States, if such Chattel Paper Original is required to be delivered by such Grantor to the Security Trustee pursuant to Section 2.05(and any related Intermediate Lease); (ii) a notice of assignment substantially in the form attached hereto as Exhibit E-1 or of a notice of assignment delivered on or prior to the Effective Date in connection with an Assigned Lease or such other form as is provided in the applicable Lease or as such Grantor may determine in accordance with Leasing Company Practice F-1 (a “Lessee Notice”). When ) and (to the extent required under the Express Perfection Requirements, such Grantor shall deliver to ) an acknowledgment from the Security Trustee a lessee acknowledgment Lessee substantially in the form attached hereto as Exhibit E-2 or a form of lessee acknowledgment delivered in connection with a Lessee Notice delivered on or prior to the Effective Date in connection with an Assigned Lease or such other form as is provided in the applicable Lease or as such Grantor may accept pursuant to the Express Perfection Requirements or in accordance with Leasing Company Practice F-2 (a “Lessee Acknowledgment”) ), or such forms of such notices as may be pre-agreed in the relevant Lease (or are otherwise acceptable to the Collateral Agent), addressed to, or for the benefit of, the Security Trustee Collateral Agent with respect to such replacement Lease; (iii) certificates of insurance from qualified brokers of aircraft insurance (or other evidence satisfactory to the Security TrusteeCollateral Agent), evidencing all insurance required to be maintained by the applicable Lessee, together with the endorsements required pursuant to Section 2.17 and Schedule V of this AgreementAgreement with respect to such replacement Lease; (iv) promptly and in any case within 15 Business Days of the effectiveness of the leasing of such Pool Aircraft, a copy of such Lease (and a Collateral Supplement any related Intermediate Lease), and an amended and restated Schedule 3.17(b) to the Credit Agreement incorporating all information required under such schedule with respect to such replacement Lease (if anyand any related Intermediate Lease); and (v) with respect to any replacement Lease, copies of such legal opinions with regard to compliance with the registration requirements of the relevant jurisdiction, enforceability of such Lease and such other matters customary for such transactions, in each case to the extent that receiving such legal opinions is consistent with Leasing Company Practice.

Replacement of Leases. Within thirty (30) days after the commencement Upon execution of the leasing of a Pool Aircraft under any replacement Lease (or such longer period as may be provided in the Express Perfection Requirements or elsewhere in this Agreement in the case of a Lessee Acknowledgment)Lease, the relevant Grantor shall comply with the provisions of Sections 2.06(a), 2.08(c), 2.08(d) 2.06 and 2.15 2.08 of this Agreement, as applicable, and shall deliver the following to the Security TrusteeCollateral Agent: (i) the Chattel Paper Original, if any, of such replacement Lease if the Pool Aircraft to which it pertains is not registered in the United States, if such Chattel Paper Original is required to be delivered by such Grantor to the Security Trustee pursuant to Section 2.05(and any related Intermediate Lease); (ii) a notice of assignment substantially in the form attached hereto as Exhibit E-1 or of F-1 (a notice of assignment delivered on or prior "Lessee Notice") and (to the Effective Date in connection with an Assigned Lease or such other form as is provided in the applicable Lease or as such Grantor may determine in accordance with Leasing Company Practice (a “Lessee Notice”). When extent required under the Express Perfection Requirements, such Grantor shall deliver to ) an acknowledgment from the Security Trustee a lessee acknowledgment Lessee substantially in the form attached hereto as Exhibit E-2 F-2 (a "Lessee Acknowledgment"), or a form such forms of lessee acknowledgment delivered such notices as may be pre-agreed in connection with a Lessee Notice delivered on the relevant Lease (or prior are otherwise acceptable to the Effective Date in connection with an Assigned Lease or such other form as is provided in the applicable Lease or as such Grantor may accept pursuant to the Express Perfection Requirements or in accordance with Leasing Company Practice (a “Lessee Acknowledgment”) Collateral Agent), addressed to, or for the benefit of, the Security Trustee Collateral Agent with respect to such replacement Lease; (iii) certificates of insurance from qualified brokers of aircraft insurance (or other evidence satisfactory to the Security TrusteeCollateral Agent), evidencing all insurance required to be maintained by the applicable Lessee, together with the endorsements required pursuant to Section 2.17 and Schedule V of this AgreementAgreement with respect to such replacement Lease; (iv) promptly and in any case within 15 Business Days of the effectiveness of the leasing of such Pool Aircraft, a copy of such Lease (and a Collateral Supplement any related Intermediate Lease), and an amended and restated Schedule 3.17(b) to the Credit Agreement incorporating all information required under such schedule with respect to such replacement Lease (if anyand any related Intermediate Lease); and (v) with respect to any replacement Lease, copies of such legal opinions with regard to compliance with the registration requirements of the relevant jurisdiction, enforceability of such Lease and such other matters customary for such transactions, in each case to the extent that receiving such legal opinions is consistent with Leasing Company Practice.