Common use of Substitution of Engines Clause in Contracts

Substitution of Engines. So long as no Default or Event of Default shall have occurred and be continuing, Borrower shall have the right at its option at any time on at least five Business Days' prior written notice, to terminate the Lien of this Mortgage with respect to any Engine. In such event, and at the time of such termination, the Borrower shall replace such Engine hereunder by complying with the terms of Section 5.02 hereof to the same extent as if an Event of Loss had occurred with respect to such Engine (other than the time periods allowed for such replacement), and the Administrative Agent (at the direction of the Lenders) shall release the replaced Engine from the Lien of this Mortgage as provided in Section 5.02. Article V

Substitution of Engines. So long as no Default or Event of Default shall have occurred and be continuing, Borrower ----------------------- shall have the right at its option at any time on at least five Business Days' prior written notice, to terminate the Lien of this Mortgage with respect to any Engine. In such event, and at the time of such termination, the Borrower shall replace such Engine hereunder by complying with the terms of Section 5.02 hereof to the same extent as if an Event of Loss had occurred with respect to such Engine (other than the time periods allowed for such replacement), and the Administrative Collateral Agent (at the direction of the LendersLender or the Administrative Agent on its behalf) shall release the replaced Engine from the Lien of this Mortgage as provided in Section 5.02. Article VV ------------------ LOSS, DESTRUCTION, REQUISITION, ETC. ------------------------------------

Substitution of Engines. So long as no Default or Event of Default shall have occurred and be continuing, Borrower shall have the right at its option at any time on at least five Business Days' prior written notice, to terminate the Lien of this Mortgage with respect to any Engine. In such event, and at the time of such termination, the Borrower shall replace such Engine hereunder by complying with the terms of Section 5.02 hereof to the same extent as if an Event of Loss had occurred with respect to such Engine (other than the time periods allowed for such replacement), and the Administrative Agent (at the direction of the Lenders) shall release the replaced Engine from the Lien of this Mortgage as provided in Section 5.02. Article VV LOSS, DESTRUCTION, REQUISITION, ETC.