Common use of Substitution of Engines Clause in Contracts

Substitution of Engines. The Company shall have the right at its option at any time, on at least 30 days’ prior written notice to the Loan Trustee, to substitute a Replacement Engine for any Engine. In such event, and prior to the date of such substitution, the Company shall replace such Engine hereunder by complying with the terms of Section 7.05(b) to the same extent as if an Event of Loss had occurred with respect to such Engine.

Appears in 18 contracts

Samples: Participation Agreement (American Airlines Inc), Participation Agreement (American Airlines Inc), Participation Agreement (American Airlines Inc)

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Substitution of Engines. The Company shall have the right at its option at any time, on at least 30 days’ prior written notice to the Loan Trustee, to substitute a Replacement Engine for any Engine. In such event, and prior to the date of such substitution, the Company shall replace such Engine hereunder by complying with the terms of Section 7.05(b) to the same extent as if an Event of Loss had occurred with respect to such Engine.

Appears in 9 contracts

Samples: Indenture and Security Agreement (Delta Air Lines Inc /De/), Indenture and Security Agreement (Delta Air Lines Inc /De/), Indenture and Security Agreement (Delta Air Lines Inc /De/)

Substitution of Engines. The Company shall have the right at its option at any time and from time to time, on at least 30 days’ prior written notice to the Loan Trustee, to substitute a Replacement Engine for any Engine. In such event, and prior to the date of such substitution, the Company shall replace such Engine hereunder by complying with the terms of Section 7.05(b) to the same extent as if an Event of Loss had occurred with respect to such Engine.

Appears in 8 contracts

Samples: Indenture and Security Agreement (Jetblue Airways Corp), Indenture and Security Agreement (Jetblue Airways Corp), Indenture and Security Agreement (Alaska Air Group, Inc.)

Substitution of Engines. The Company shall have the right at its option at any time, on at least 30 days' prior written notice to the Loan Trustee, to substitute a Replacement Engine for any Engine. In such event, and prior to the date of such substitution, the Company shall replace such Engine hereunder by complying with the terms of Section 7.05(b) to the same extent as if an Event of Loss had occurred with respect to such Engine.

Appears in 5 contracts

Samples: Indenture and Security Agreement (American Airlines Inc), Indenture and Security Agreement (American Airlines Inc), Indenture and Security Agreement (American Airlines Inc)

Substitution of Engines. The Company shall have the right at its option at any time, on at least 30 days’ prior written notice to the Loan Trustee, to substitute a Replacement Engine for any Engine. In such event, and prior to the date of such substitution, the Company shall replace such Engine hereunder by complying with the terms of Section 7.05(b) to the same extent as if an Event of Loss had occurred with respect to such Engine.

Appears in 4 contracts

Samples: Indenture and Security Agreement (Spirit Airlines, Inc.), Indenture and Security Agreement, Indenture and Security Agreement (Spirit Airlines, Inc.)

Substitution of Engines. The Company shall have the right at its option at any time, on at least 30 days' prior written notice to the Loan Trustee, to substitute a Replacement Engine for any Engine. In such event, and prior to the date of such substitution, the Company shall replace such Engine hereunder by complying with the terms of Section 7.05(b) to the same extent as if an Event of Loss had occurred with respect to such Engine.

Appears in 4 contracts

Samples: Indenture and Security Agreement (Delta Air Lines Inc /De/), Indenture and Security Agreement (Delta Air Lines Inc /De/), Indenture and Security Agreement (Delta Air Lines Inc /De/)

Substitution of Engines. The Company shall have the right at its option at any time and from time to time, on at least 30 days’ prior written notice to the Loan Trustee, to substitute a Replacement Engine for any Engine. In such event, and prior to the date of such substitution, the Company shall replace such Engine hereunder by complying with the terms of Section 7.05(b) to the same extent as if an Event of Loss had occurred with respect to such Engine.

Appears in 3 contracts

Samples: Participation Agreement (American Airlines, Inc.), Participation Agreement (American Airlines Inc), Deposit Agreement

Substitution of Engines. The Company shall have the right at its option at any time, on at least 30 days' prior written notice to the Loan Trustee, to substitute a Replacement Engine for any Engine. In such event, and prior to the date of such substitution, the Company shall replace such Engine hereunder by complying with the terms of Section 7.05(b) to the same extent as if an Event of Loss had occurred with respect to such Engine.

Appears in 2 contracts

Samples: Indenture and Security Agreement (Delta Air Lines Inc /De/), Indenture and Security Agreement (Delta Air Lines Inc /De/)

Substitution of Engines. The Company shall have the right at its option at any time and from time to time, on at least 30 days’ prior written notice to the Loan Trustee, to substitute a Replacement Engine for any Engine. In such event, and prior to the date of such substitution, the Company shall replace such Engine hereunder by complying with the terms of Section ‎Section 7.05(b) to the same extent as if an Event of Loss had occurred with respect to such Engine.

Appears in 2 contracts

Samples: Indenture and Security Agreement (Fedex Corp), Indenture and Security Agreement (Fedex Corp)

Substitution of Engines. The Company shall have the right at its option at any time, on at least 30 days’ prior written notice to the Loan Trustee, to substitute a Replacement Engine for any Engine. In such event, and prior to the date of such substitution, the Company shall replace such Engine hereunder by complying with the terms of Section 7.05(b) to the same extent as if an Event of Loss had occurred with respect to such Engine.. Indenture and Security Agreement (2019-1 EETC) N360DN

Appears in 1 contract

Samples: Indenture and Security Agreement (Delta Air Lines Inc /De/)

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Substitution of Engines. The Company shall have the right at its option at any time, on at least 30 days’ prior written notice to the Loan Trustee, to substitute a [Reg. No.] Replacement Engine for any Engine. In such event, and prior to the date of such substitution, the Company shall replace such Engine hereunder by complying with the terms of Section 7.05(b) to the same extent as if an Event of Loss had occurred with respect to such Engine.

Appears in 1 contract

Samples: Indenture and Security Agreement (Delta Air Lines Inc /De/)

Substitution of Engines. The Company shall have the right at its option at any time, on at least 30 days’ prior written notice to the Loan Trustee, to substitute a Replacement Engine for any Engine. In such event, and prior to the date of such substitution, the Company shall replace such Engine hereunder by complying with the terms of Section 7.05(b) to the same extent as if an Event of Loss had occurred with respect to such Engine.. Indenture and Security Agreement (2019-1 EETC) N103DU

Appears in 1 contract

Samples: Indenture and Security Agreement (Delta Air Lines Inc /De/)

Substitution of Engines. The Company shall have the right at its option at any time and from time to time, on at least 30 days’ prior written notice to the Loan Trustee, to substitute a Replacement Engine for any Engine. In such event, and prior to the date of such substitution, the Company shall replace such Engine hereunder by complying with the terms of Section 7.05(b) to the same extent as if an Event of Loss had occurred with respect to such Engine.. Indenture and Security Agreement (2020-1 EETC) N568AS

Appears in 1 contract

Samples: Indenture and Security Agreement (Alaska Air Group, Inc.)

Substitution of Engines. The Company shall have the right at its option at any time, on at least 30 days’ prior written notice to the Loan TrusteeSecurity Agent, to substitute a Replacement Engine for any such Engine. In such event, and prior to the date of such substitution, the Company shall replace such Engine hereunder by complying with the Aircraft Security Agreement AA 2009-2 Secured Notes terms of Section 7.05(b) to the same extent as if an Event of Loss had occurred with respect to such Engine.

Appears in 1 contract

Samples: Aircraft Security Agreement (American Airlines Inc)

Substitution of Engines. The Company shall have the right at its option at any time, on at least 30 days’ prior written notice to the Loan Trustee, to substitute a Replacement Engine for any Engine. In such event, and prior to the date of such substitution, the Company shall replace such Engine hereunder by complying with the terms of Section 7.05(b) to the same extent as if an Event of Loss had occurred with respect to such Engine.. Indenture and Security Agreement (2019-1 EETC) N510DN

Appears in 1 contract

Samples: Indenture and Security Agreement (Delta Air Lines Inc /De/)

Substitution of Engines. The Company shall have the right at its option at any time and from time to time, on at least 30 days’ prior written notice to the Loan Trustee, to substitute a Replacement Engine for any Engine. In such event, and prior to the date of such substitution, the Company shall replace such Engine hereunder by complying with the terms of Section 7.05(b) to the same extent as if an Event of Loss had occurred with respect to such Engine.. Indenture and Security Agreement (2020-1 EETC) N494AS

Appears in 1 contract

Samples: Indenture and Security Agreement (Alaska Air Group, Inc.)

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