Common use of Return of Aircraft; Condition Upon Return Clause in Contracts

Return of Aircraft; Condition Upon Return. Unless Lessee or its designee shall have acquired title to the relevant Aircraft pursuant to Section 5(b), Lessee will, upon the termination or expiration of this Lease with respect to an Aircraft (other than following an Event of Loss with respect to such Aircraft), at its own risk and expense, cause the Airframe for such Aircraft together with the Aircraft Documentation therefor to be delivered to Lessor pursuant to Section 5(d), equipped with its two Engines (or two engines of the same manufacturer or of another manufacturer, of the same or an improved model (it being understood that such engines on such Aircraft shall be of the same model and suitable for installation and use on the related Airframe but having a value and utility at least equal to, and being in as good operating condition as, the Engines for such Aircraft)), duly installed thereon. At the time of such return, (A) such Aircraft shall have a valid Certificate of Airworthiness, (B) the Airframe for such Aircraft and such Engines or engines shall be free and clear of all Liens (other than Permitted Liens), (C) the Airframe for such Aircraft and such Engines or engines shall be in as good operating condition as when originally accepted by Lessee under this Lease, ordinary wear and tear excepted, and in proper operating condition for scheduled revenue passenger flights as provided in this Section 5(c), Section 7(b) and Section 8 and (D) such Aircraft shall, except as otherwise provided herein, be in substantially the same configuration and have installed the same or equivalent avionics and other equipment, safety equipment and appurtenances as when such Aircraft was originally delivered to Lessee hereunder (it being agreed that the records of the Manufacturer, including the Purchase Agreement and the Aircraft Documentation, shall be prima facie evidence thereof).

Return of Aircraft; Condition Upon Return. Unless Lessee or its designee shall have acquired title to the relevant Aircraft pursuant to Section 5(b), Lessee will, upon the termination or expiration of this Lease with respect to an Aircraft (other than following an Event of Loss with respect to such AircraftLoss), at its own risk and expense, cause the Airframe for such the Aircraft together with the Aircraft Documentation therefor to be delivered to Lessor pursuant to Section 5(d), equipped with its two Engines (or two engines of the same manufacturer or of another manufacturer, of the same or an improved model (it being understood that such engines on such the Aircraft shall be of the same model and suitable for installation and use on the related Airframe but having a value and utility at least equal to, and being in as good operating condition as, the Engines for such the Aircraft)), duly installed thereon. At the time of such return, (A) such the Aircraft shall have a valid Certificate of Airworthiness, (B) the Airframe for such the Aircraft and such Engines or engines shall be free and clear of all Liens (other than Permitted Liens), (C) the Airframe for such the Aircraft and such Engines or engines shall be in as good operating condition as when originally accepted by Lessee under this Lease, ordinary wear and tear excepted, and in proper operating condition for scheduled revenue passenger flights as provided in this Section 5(c), Section 7(b) and Section 8 and (D) such the Aircraft shall, except as otherwise provided herein, be in substantially the same configuration and have installed the same or equivalent avionics and other equipment, safety equipment and appurtenances as when such the Aircraft was originally delivered to Lessee hereunder (it being agreed that the records of the Manufacturer, including the Purchase Agreement and the Aircraft Documentation, shall be prima facie evidence thereof).. [Lease Agreement [VIRGIN/NPA MSN 6965]]

Return of Aircraft; Condition Upon Return. Unless Lessee or its designee shall have acquired title to the relevant Aircraft pursuant to Section 5(b), Lessee will, upon the termination or expiration of this Lease with respect to an Aircraft (other than following an Event of Loss with respect to such Aircraft), at its own risk and expense, cause the Airframe for such Aircraft together with the Aircraft Documentation therefor to be delivered to Lessor pursuant to Section 5(d), equipped with its two Engines (or two engines of the same manufacturer or of another manufacturer, of the same or an improved model (it being understood that such engines on such Aircraft shall be of the same model and suitable for installation and use on the related Airframe but having a value and utility at least equal to, and being in as good operating condition as, the Engines for such Aircraft)), duly installed thereon. At the time of such return, (A) such Aircraft shall have a valid Certificate certificate of Airworthinessairworthiness, (B) the Airframe for such Aircraft and such Engines or engines shall be free and clear of all Liens (other than Permitted Liens), (C) the Airframe for such Aircraft and such Engines or engines shall be in as good operating condition as when originally accepted by Lessee under this Lease, ordinary wear and tear excepted, and in proper operating condition for scheduled revenue passenger flights as provided in this Section 5(c), Section 7(b) and Section 8 and (D) such Aircraft shall, except as otherwise provided herein, be in substantially the same configuration and have installed the same or equivalent avionics and other equipment, safety equipment and appurtenances as when such Aircraft was originally delivered to Lessee hereunder (it being agreed that the records of the Manufacturer, including the Purchase Agreement and the Aircraft Documentation, shall be prima facie evidence thereof).

Return of Aircraft; Condition Upon Return. Unless the Lessee or its designee shall have acquired title to the relevant Aircraft pursuant to Section 5(b)5(a) hereof or Section 3(e) hereof, the Lessee will, upon the termination or expiration of this Lease with respect to an the Aircraft (other than following an Event of Loss with respect to such AircraftLoss), at its own risk and expense, cause the Airframe for such the Aircraft together with the Aircraft Documentation Manuals and Technical Records therefor to be delivered to the Lessor pursuant to Section in accordance with Sections 5(d), 5(e), 5(f) and 5(g), fully equipped with its the two related Engines (or two engines of the same manufacturer or of another manufacturer, of the same or an improved model (it being understood that such engines on such the Aircraft shall be of the same model and suitable for installation and use on the related Airframe but having and have a value value, marketability, remaining useful life and utility at least equal to, and being in as good operating condition as, the Engines for leased by the Lessee, assuming such AircraftEngine was in compliance with Section 7(c) of this Lease)), duly installed thereon. At the time of such return, (A) such the Aircraft shall have a valid Certificate of Airworthiness, (B) the Airframe for such Aircraft and such the Engines or engines shall be free and clear of all Liens (other than Permitted LiensLiens or other Liens arising under or in connection with any Security Document), (C) the Airframe for such Aircraft and such the Engines or engines shall be in as good operating condition as when originally accepted by the Lessee under this Lease, ordinary wear and tear excepted, and in proper operating condition for scheduled revenue passenger and cargo flights as provided in this Section 5(c), Section 7(b7(c) and Section 8 and (D) such the Aircraft shall, except as otherwise provided herein, be in substantially the same configuration and have installed the same or equivalent avionics and other equipment, safety equipment and appurtenances as when such the Aircraft was originally delivered to the Lessee hereunder (it being agreed that the records of the Manufacturer, including the Purchase Agreement and the Aircraft DocumentationManuals and Technical Records, shall be prima facie evidence thereof). Upon such return, in addition to the specific return provisions set forth in this Section 5(c), the Airframe shall be fresh from the next scheduled “C” or “C4” Check (or its equivalent) sufficient to clear the Aircraft for operation until the next scheduled full and complete zonal, systems, and structural check under the Approved Maintenance Program, and the major components shall have 100% of the hours, cycles or time (whichever is more limiting) in each case remaining until the next anticipated engine refurbishment, overhaul or inspection requiring removal and the Engines shall have cleared a recently completed scheduled shop visit or overhaul equivalent thereto (or such lesser scheduled shop visit or overhaul as acceptable to the Lessor). At the time of such return, the Lessee shall also at its own expense (i) transfer or cause to be transferred, or reassign or cause to be reassigned, to the Lessor to the extent then possible all warranties and performance guaranties obtained by the Lessee with respect to the Aircraft together with all documents related thereto that may be required to effect such transfer or reassignment; and (ii) if requested by the Lessor, obtain an export certificate of airworthiness (if available) for, and obtain or submit any applicable approval, permit, license or report for the re-export and physical removal of, the Aircraft from the Aviation Authority and deregister the Aircraft from the registry maintained by the Government of Registry. If the Lessee fails to remove the registration or to obtain the export certificate of airworthiness or such re-export approval, permit or license as provided above, the Lessor may do so at the cost and expense of the Lessee and, in such event, the Lessee shall upon demand reimburse the Lessor for the cost thereof. The Lessee hereby irrevocably appoints the Lessor, upon such failure of the Lessee, as its true and lawful attorney-in-fact, with full power of substitution, in the Lessee’s name or otherwise, to carry out the provisions of this Section 5(c) and to take any action and to execute or file any instrument necessary to accomplish the purposes of this Section 5(c). If any other of the foregoing requirements shall not be satisfied at the time of return, the Lessee shall (at the Lessor’s election) either promptly remedy any deficiency or make a payment fully compensating the Lessor for the remedy of such deficiency. If requested by the Lessor, the Lessee shall perform a flight test demonstration, at the Lessee’s expense and during normal business hours, for a period of not more than two hours at any airport referred to in Section 5(d). Personnel designated by the Lessor may participate in such demonstration flight. A pilot selected by the Lessor may accompany the Lessee’s pilot and occupy the observer’s seat during such demonstration. The purpose of the demonstration flight will be to ascertain that all systems and their components are functioning satisfactorily and, in the event they are not so functioning, they will be corrected by the Lessee or provision made therefor by the Lessee.