Common use of Severable Parts Clause in Contracts

Severable Parts. At any time that the Aircraft or Spare Engines are to be returned to Lessor, Lessee shall, at Lessor's request, advise Lessor of the nature and condition of all severable nonproprietary Parts (other than Parts otherwise required by Sections 10 or 11 to be maintained on the Aircraft) owned by Lessee which have been used by Lessee during the prior six months and which Lessee has or intends to remove from the Aircraft or Spare Engines in accordance with Section 11 hereof. Lessor may, at its option, upon 30 days notice to Lessee, purchase any or all of such nonproprietary Parts from Lessee upon the expiration of the Term at their fair market value.

Severable Parts. At any time that the Aircraft or Spare Engines are is to be returned to Lessor, Lessee shall, at Lessor's request, advise Lessor of the nature and condition of all severable nonproprietary Parts (other than Parts otherwise required by Sections 10 or 11 to be maintained on the Aircraft) owned by Lessee which have been used by Lessee during the prior six months and which Lessee has or intends to remove from the Aircraft or Spare Engines in accordance with Section 11 hereof. Lessor may, at its option, upon 30 days notice to Lessee, purchase any or all of such nonproprietary Parts from Lessee upon the expiration of the Term at their fair market value.

Severable Parts. At any time that the Aircraft or Spare Engines are is to be returned to the Lessor, the Lessee shall, at the Lessor's request, advise the Lessor of the nature and condition of all severable nonproprietary Parts (other than Parts otherwise required by Sections 10 or 11 to be maintained on the Aircraft) owned by the Lessee which have been used by the Lessee during the prior six months and which that the Lessee has or intends to remove from the Aircraft or Spare Engines in accordance with Section 11 hereof. The Lessor may, at its option, upon 30 days notice to the Lessee, purchase any or all of such nonproprietary Parts from the Lessee upon the expiration of the Term at their fair market value.

Severable Parts. At any time that during the last 120 days of the Term or --------------- if the Aircraft or Spare Engines are is otherwise to be returned to Lessor, Lessee shall, at Lessor's request, advise Lessor of the nature and condition of all severable nonproprietary nonpro- Federal Express Boeing 727-2D4 N362PA prietary Parts (other than Parts otherwise required by Sections 10 or 11 to be maintained on the Aircraft) owned by Lessee which have been used by Lessee during the prior six months and which Lessee has or intends to remove from the Aircraft or Spare Engines in accordance with Section 11 8 hereof. Lessor may, at its option, upon 30 days notice to Lessee, purchase any or all of such nonproprietary Parts from Lessee upon the expiration of the Term or upon such return at their then fair market value.