Common use of Substitution with Respect to an Engine Clause in Contracts

Substitution with Respect to an Engine. The Owner shall (i) so long as no Default or Event of Default has occurred which has not been remedied or waived, have the right to substitute a Replacement Engine for any Engine at its option at any time, on at least thirty (30) days' prior written notice to the Indenture Trustee and (ii) substitute a Replacement Engine for an Engine if an Event of Loss shall have occurred with respect to such Engine (under circumstances in which there has not occurred an Event of Loss with respect to the Airframe) within sixty (60) days after the occurrence of such Event of Loss (such Replacement Engine to be of the same or another manufacturer of the same, an equivalent or an improved model and suitable for installation and use on the Airframe without impairing the value, utility or remaining useful life of the Aircraft; provided that both Engines shall be of the same make and model) free and clear of all Liens (other than Permitted Liens) and having a value, utility and remaining useful life (without regard to hours or cycles) at least equal to the replaced Engine assuming no Event of Loss had occurred and that such replaced Engine had been maintained in accordance with the provisions of this Trust Indenture. Prior to or at the time of any such substitution, the Owner, at its own expense, will (1) furnish the Indenture Trustee with (A) a copy of the original xxxx of sale with respect to such Replacement Engine and (B) appropriate instruments assigning to the Indenture Trustee the benefits, if any, of all manufacturer's and vendor's warranties generally available and permitted to be assigned by the Owner with respect to such Replacement Engine, (2) cause a Trust Indenture Supplement to be duly executed by the Owner and to be filed for recording pursuant to the Federal Aviation Act, or the applicable laws, rules and regulations of any other jurisdiction in which the Aircraft may then be registered as permitted by Section 8(f) of the Participation Agreement, (3) cause a financing statement or statements covering the Lien created by this Trust Indenture with respect to the Replacement Engine to be filed in such place or places as are deemed necessary or desirable by counsel for the Indenture Trustee to perfect the Indenture Trustee's interest therein, (4) furnish the Indenture Trustee with such evidence of compliance with the insurance provisions of Section 7.04 hereof with respect to such Replacement Engine as the Indenture Trustee may reasonably request, and (5) furnish the Indenture Trustee with (A) an opinion of in-house counsel to the Owner, or other counsel satisfactory to the Indenture Trustee, stating that the Replacement Engine has been validly subjected to the Lien of this Trust Indenture, the instruments subjecting such Replacement Engine to the Lien of this Trust Indenture have been duly filed for recordation pursuant to the Federal Aviation Act or any other law then applicable to the registration of the Aircraft, and no further action, filing or recording of any document is necessary or advisable in order to establish and perfect the Lien of this Trust Indenture on such Replacement Engine and (B) a certificate signed by a duly authorized officer of the Owner stating the following: (i) a description of the replaced Engine which shall be identified by manufacturer's serial number; (ii) a description of the Replacement Engine (including the manufacturer's name and serial number) as consideration for the replaced Engine; (iii) that such Replacement Engine is substantially the same as the replaced Engine (or an improved model); and (iv) the value, utility and remaining useful life (without regard to hours or cycles) of the Replacement Engine as of the date of such certificate (which in the judgment of the Owner shall not be less than the value, utility and remaining useful life (without regard to hours or cycles) of the Engine requested to be released (assuming no Event of Loss and that such Engine was in the condition and repair required to be maintained under this Trust Indenture). Upon the Owner having provided a Replacement Engine, as provided for in this Section 7.06(b), (x) the Lien of this Trust Indenture shall continue with respect to such Replacement Engine; the Indenture Trustee shall, at the cost and expense of the Owner, release from the Lien of this Trust Indenture the replaced Engine by executing and delivering to the Owner such documents and instruments, prepared at the Owner's expense, as the Owner may reasonably request to evidence such release; and (y) the Indenture Trustee shall assign to the Owner all claims it may have against any other Person arising from an Event of Loss of such replaced Engine giving rise to such substitution and the Owner shall receive all insurance proceeds and proceeds from any award in respect of condemnation, confiscation, seizure or requisition, including any investment interest thereon, to the extent not previously applied to the purchase price of the Replacement Engine, as provided in Sections 7.04(b) and 7.06(c)(ii) hereof. For all purposes hereof, each such Replacement Engine shall, after such conveyance, be deemed part of the property subject to the Lien of this Trust Indenture, and shall be deemed an "Engine".

Substitution with Respect to an Engine. The Owner shall (i) so long as no Default or Event of Default has occurred which has not been remedied or waived, have the right to substitute a Replacement Engine for any Engine at its option at any time, on at least thirty (30) days' prior written notice to the Indenture Trustee and (ii) substitute a Replacement Engine for an Engine if an Event of Loss shall have occurred with respect to such Engine (under circumstances in which there has not occurred an Event of Loss with respect to the Airframe) within sixty (60) days after the occurrence of such Event of Loss (such Replacement Engine to be of the same or another manufacturer of the same, an equivalent or an improved model and suitable for installation and use on the Airframe without impairing the value, utility or remaining useful life of the Aircraft; provided that both Engines shall be of the same make and model) free and clear of all Liens (other than Permitted Liens) and having a value, utility and remaining useful life (without regard to hours or cycles) at least equal to the replaced Engine assuming no Event of Loss had occurred and that such replaced Engine had been maintained in accordance with the provisions of this Trust Indenture. Prior to or at the time of any such substitution, the Owner, at its own expense, will (1) furnish the Indenture Trustee with (A) a copy of the original xxxx bxxx of sale with respect to such Replacement Engine and (B) appropriate instruments assigning to the Indenture Trustee the benefits, if any, of all manufacturer's and vendor's warranties generally available and permitted to be assigned by the Owner with respect to such Replacement Engine, (2) cause a Trust Indenture Supplement to be duly executed by the Owner and to be filed for recording pursuant to the Federal Aviation Act, or the applicable laws, rules and regulations of any other jurisdiction in which the Aircraft may then be registered as permitted by Section 8(f) of the Participation Agreement, (3) cause a financing statement or statements covering the Lien created by this Trust Indenture with respect to the Replacement Engine to be filed in such place or places as are deemed necessary or desirable by counsel for the Indenture Trustee to perfect the Indenture Trustee's interest therein, (4) furnish the Indenture Trustee with such evidence of compliance with the insurance provisions of Section 7.04 hereof with respect to such Replacement Engine as the Indenture Trustee may reasonably request, and (5) furnish the Indenture Trustee with (A) an opinion of in-house counsel to the Owner, or other counsel satisfactory to the Indenture Trustee, stating that the Replacement Engine has been validly subjected to the Lien of this Trust Indenture, the instruments subjecting such Replacement Engine to the Lien of this Trust Indenture have been duly filed for recordation pursuant to the Federal Aviation Act or any other law then applicable to the registration of the Aircraft, and no further action, filing or recording of any document is necessary or advisable in order to establish and perfect the Lien of this Trust Indenture on such Replacement Engine and (B) a certificate signed by a duly authorized officer of the Owner stating the following: (i) a description of the replaced Engine which shall be identified by manufacturer's serial number; (ii) a description of the Replacement Engine (including the manufacturer's name and serial number) as consideration for the replaced Engine; (iii) that such Replacement Engine is substantially the same as the replaced Engine (or an improved model); and (iv) the value, utility and remaining useful life (without regard to hours or cycles) of the Replacement Engine as of the date of such certificate (which in the judgment of the Owner shall not be less than the value, utility and remaining useful life (without regard to hours or cycles) of the Engine requested to be released (assuming no Event of Loss and that such Engine was in the condition and repair required to be maintained under this Trust Indenture). Upon the Owner having provided a Replacement Engine, as provided for in this Section 7.06(b), (x) the Lien of this Trust Indenture shall continue with respect to such Replacement Engine; the Indenture Trustee shall, at the cost and expense of the Owner, release from the Lien of this Trust Indenture the replaced Engine by executing and delivering to the Owner such documents and instruments, prepared at the Owner's expense, as the Owner may reasonably request to evidence such release; and (y) the Indenture Trustee shall assign to the Owner all claims it may have against any other Person arising from an Event of Loss of such replaced Engine giving rise to such substitution and the Owner shall receive all insurance proceeds and proceeds from any award in respect of condemnation, confiscation, seizure or requisition, including any investment interest thereon, to the extent not previously applied to the purchase price of the Replacement Engine, as provided in Sections 7.04(b) and 7.06(c)(ii) hereof. For all purposes hereof, each such Replacement Engine shall, after such conveyance, be deemed part of the property subject to the Lien of this Trust Indenture, and shall be deemed an "Engine".

Substitution with Respect to an Engine. The Owner shall (i) so long as no Default or Event of Default has occurred which has not been remedied or waived, have the right to substitute a Replacement Engine for any Engine at its option at any time, on at least thirty (30) days' ’ prior written notice to the Indenture Trustee and (ii) substitute a Replacement Engine for an Engine if an Event of Loss shall have occurred with respect to such Engine (under circumstances in which there has not occurred an Event of Loss with respect to the Airframe) within sixty (60) days after the occurrence of such Event of Loss (such Replacement Engine to be of the same or another manufacturer of the same, an equivalent or an improved model and suitable for installation and use on the Airframe without impairing the value, utility or remaining useful life of the Aircraft; provided that both Engines shall be of the same make and model) free and clear of all Liens (other than Permitted Liens) and having a value, utility and remaining useful life (without regard to hours or cycles) at least equal to the replaced Engine assuming no Event of Loss had occurred and that such replaced Engine had been maintained in accordance with the provisions of this Trust Indenture. Prior to or at the time of any such substitution, the Owner, at its own expense, will (1) furnish the Indenture Trustee with (A) a copy of the original xxxx of sale with respect to such Replacement Engine Engine, which shall have been duly registered as a “contract of sale” in respect thereof on the International Registry, as applicable and (B) appropriate instruments assigning to the Indenture Trustee the benefits, if any, of all manufacturer's ’s and vendor's ’s warranties generally available and permitted to be assigned by the Owner with respect to such Replacement Engine, (2) cause a Trust Indenture Supplement to be duly executed by the Owner and to be filed for recording pursuant to the Federal Aviation Act, or the applicable laws, rules and regulations of any other jurisdiction in which the Aircraft may then be registered as permitted by Section 8(f) of the Participation Agreement, with corresponding registrations being made on the International Registry, as applicable, (3) cause a financing statement or statements covering the Lien created by this Trust Indenture with respect to the Replacement Engine to be filed in such place or places as are deemed necessary or desirable by counsel for the Indenture Trustee to perfect the Indenture Trustee's ’s interest therein, (4) furnish the Indenture Trustee with such evidence of compliance with the insurance provisions of Section 7.04 hereof with respect to such Replacement Engine as the Indenture Trustee may reasonably request, and (5) furnish the Indenture Trustee with (A) an opinion of in-house counsel to the Owner, or other counsel satisfactory to the Indenture Trustee, stating that the Replacement Engine has been validly subjected to the Lien of this Trust Indenture, the instruments subjecting such Replacement Engine to the Lien of this Trust Indenture have been duly filed for recordation pursuant to the Federal Aviation Act Act, registered with the International Registry pursuant to the Cape Town Convention, if applicable, or registered or filed pursuant to any other law then applicable to the registration of the Aircraft, and no further action, filing or recording of any document is necessary or advisable in order to establish and perfect the Lien of this Trust Indenture on such Replacement Engine and (B) a certificate signed by a duly authorized officer of the Owner stating the following: (i) a description of the replaced Engine which shall be identified by manufacturer's ’s serial number; (ii) a description of the Replacement Engine (including the manufacturer's ’s name and serial number) as consideration for the replaced Engine; (iii) that such Replacement Engine is substantially the same as the replaced Engine (or an improved model); and (iv) the value, utility and remaining useful life (without regard to hours or cycles) of the Replacement Engine as of the date of such certificate (which in the judgment of the Owner shall not be less than the value, utility and remaining useful life (without regard to hours or cycles) of the Engine requested to be released (assuming no Event of Loss and that such Engine was in the condition and repair required to be maintained under this Trust Indenture). Upon the Owner having provided a Replacement Engine, as provided for in this Section 7.06(b), (x) the Lien of this Trust Indenture shall continue with respect to such Replacement Engine; the Indenture Trustee shall, at the cost and expense of the Owner, release from the Lien of this Trust Indenture the replaced Engine by executing and delivering to the Owner such documents and instruments, prepared at the Owner's ’s expense, as the Owner may reasonably request to evidence such releaserelease including, without limitation, any registrations with the International Registry pursuant to the Cape Town Convention; and (y) the Indenture Trustee shall assign to the Owner all claims it may have against any other Person arising from an Event of Loss of such replaced Engine giving rise to such substitution and the Owner shall receive all insurance proceeds and proceeds from any award in respect of condemnation, confiscation, seizure or requisition, including any investment interest thereon, to the extent not previously applied to the purchase price of the Replacement Engine, as provided in Sections 7.04(b) and 7.06(c)(ii) hereof. For all purposes hereof, each such Replacement Engine shall, after such conveyance, be deemed part of the property subject to the Lien of this Trust Indenture, and shall be deemed an "“Engine"”.

Substitution with Respect to an Engine. The Owner shall (i) so long as no Default or Event of Default has occurred which has not been remedied or waived, have the right to substitute a Replacement Engine for any Engine at its option at any time, on at least thirty (30) days' prior written notice to the Indenture Trustee and (ii) substitute a Replacement Engine for an Engine if an Event of Loss shall have occurred with respect to such Engine (under circumstances in which there has not occurred an Event of Loss with respect to the Airframe) within sixty (60) days after the occurrence of such Event of Loss (such Replacement Engine to be of the same or another manufacturer of the same, an equivalent or an improved model and suitable for installation and use on the Airframe without impairing the value, utility or remaining useful life of the Aircraft; provided that both Engines shall be of the same make and model) free and clear of all Liens (other than Permitted Liens) and having a value, utility and remaining useful life (without regard to hours or cycles) at least equal to the replaced Engine assuming no Event of Loss had occurred and that such replaced Engine had been maintained in accordance with the provisions of this Trust Indenture. Prior to or at the time of any such substitution, the Owner, at its own expense, will (1) furnish the Indenture Trustee with (A) a copy of the original xxxx bill of sale with respect to such Replacement Engine and (B) appropriate approxxxxte instruments assigning to the Indenture Trustee the benefits, if any, of all manufacturer's and vendor's warranties generally available and permitted to be assigned by the Owner with respect to such Replacement Engine, (2) cause a Trust Indenture Supplement to be duly executed by the Owner and to be filed for recording pursuant to the Federal Aviation Act, or the applicable laws, rules and regulations of any other jurisdiction in which the Aircraft may then be registered as permitted by Section 8(f) of the Participation Agreement, (3) cause a financing statement or statements covering the Lien created by this Trust Indenture with respect to the Replacement Engine to be filed in such place or places as are deemed necessary or desirable by counsel for the Indenture Trustee to perfect the Indenture Trustee's interest therein, (4) furnish the Indenture Trustee with such evidence of compliance with the insurance provisions of Section 7.04 hereof with respect to such Replacement Engine as the Indenture Trustee may reasonably request, and (5) furnish the Indenture Trustee with (A) an opinion of in-house counsel to the Owner, or other counsel satisfactory to the Indenture Trustee, stating that the Replacement Engine has been validly subjected to the Lien of this Trust Indenture, the instruments subjecting such Replacement Engine to the Lien of this Trust Indenture have been duly filed for recordation pursuant to the Federal Aviation Act or any other law then applicable to the registration of the Aircraft, and no further action, filing or recording of any document is necessary or advisable in order to establish and perfect the Lien of this Trust Indenture on such Replacement Engine and (B) a certificate signed by a duly authorized officer of the Owner stating the following: (i) a description of the replaced Engine which shall be identified by manufacturer's serial number; (ii) a description of the Replacement Engine (including the manufacturer's name and serial number) as consideration for the replaced Engine; (iii) that such Replacement Engine is substantially the same as the replaced Engine (or an improved model); and (iv) the value, utility and remaining useful life (without regard to hours or cycles) of the Replacement Engine as of the date of such certificate (which in the judgment of the Owner shall not be less than the value, utility and remaining useful life (without regard to hours or cycles) of the Engine requested to be released (assuming no Event of Loss and that such Engine was in the condition and repair required to be maintained under this Trust Indenture). Upon the Owner having provided a Replacement Engine, as provided for in this Section 7.06(b), (x) the Lien of this Trust Indenture shall continue with respect to such Replacement Engine; the Indenture Trustee shall, at the cost and expense of the Owner, release from the Lien of this Trust Indenture the replaced Engine by executing and delivering to the Owner such documents and instruments, prepared at the Owner's expense, as the Owner may reasonably request to evidence such release; and (y) the Indenture Trustee shall assign to the Owner all claims it may have against any other Person arising from an Event of Loss of such replaced Engine giving rise to such substitution and the Owner shall receive all insurance proceeds and proceeds from any award in respect of condemnation, confiscation, seizure or requisition, including any investment interest thereon, to the extent not previously applied to the purchase price of the Replacement Engine, as provided in Sections 7.04(b) and 7.06(c)(ii) hereof. For all purposes hereof, each such Replacement Engine shall, after such conveyance, be deemed part of the property subject to the Lien of this Trust Indenture, and shall be deemed an "Engine".

Substitution with Respect to an Engine. The Owner shall (i) so long as no Default or Event of Default has occurred which has not been remedied or waived, have the right to substitute a Replacement Engine for any Engine at its option at any time, on at least thirty (30) days' prior written notice to the Indenture Trustee and (ii) substitute a Replacement Engine for an Engine if an Event of Loss shall have occurred with respect to such Engine (under circumstances in which there has not occurred an Event of Loss with respect to the Airframe) within sixty (60) days after the occurrence of such Event of Loss (such Replacement Engine to be of the same or another manufacturer of the same, an equivalent or an improved model and suitable for installation and use on the Airframe without impairing the value, utility or remaining useful life of the Aircraft; provided PROVIDED that both [both] [all] Engines shall be of the same make and model) free and clear of all Liens (other than Permitted Liens) and having a value, utility and remaining useful life (without regard to hours or cycles) at least equal to the replaced Engine assuming no Event of Loss had occurred and that such replaced Engine had been maintained in accordance with the provisions of this Trust Indenture. Prior to or at the time of any such substitution, the Owner, at its own expense, will (1) furnish the Indenture Trustee with (A) a copy of the original xxxx of sale with respect to such Replacement Engine and (B) appropriate instruments assigning to the Indenture Trustee the benefits, if any, of all manufacturer's and vendor's warranties generally available and permitted to be assigned by the Owner with respect to such Replacement Engine, (2) cause a Trust Indenture Supplement to be duly executed by the Owner and to be filed for recording pursuant to the Federal Aviation Act, or the applicable laws, rules and regulations of any other jurisdiction in which the Aircraft may then be registered as permitted by Section 8(f) of the Participation Agreement, (3) cause a financing statement or statements covering the Lien created by this Trust Indenture with respect to the Replacement Engine to be filed in such place or places as are deemed necessary or desirable by counsel for the Indenture Trustee to perfect the Indenture Trustee's interest therein, (4) furnish the Indenture Trustee with such evidence of compliance with the insurance provisions of Section 7.04 hereof with respect to such Replacement Engine as the Indenture Trustee may reasonably request, and (5) furnish the Indenture Trustee with (A) an opinion of in-house counsel to the Owner, or other counsel satisfactory to the Indenture Trustee, stating that the Replacement Engine has been validly subjected to the Lien of this Trust Indenture, the instruments subjecting such -50- Replacement Engine to the Lien of this Trust Indenture have been duly filed for recordation pursuant to the Federal Aviation Act or any other law then applicable to the registration of the Aircraft, and no further action, filing or recording of any document is necessary or advisable in order to establish and perfect the Lien of this Trust Indenture on such Replacement Engine and (B) a certificate signed by a duly authorized officer of the Owner stating the following: (i) a description of the replaced Engine which shall be identified by manufacturer's serial number; (ii) a description of the Replacement Engine (including the manufacturer's name and serial number) as consideration for the replaced Engine; (iii) that such Replacement Engine is substantially the same as the replaced Engine (or an improved model); and (iv) the value, utility and remaining useful life (without regard to hours or cycles) of the Replacement Engine as of the date of such certificate (which in the judgment of the Owner shall not be less than the value, utility and remaining useful life (without regard to hours or cycles) of the Engine requested to be released (assuming no Event of Loss and that such Engine was in the condition and repair required to be maintained under this Trust Indenture). Upon the Owner having provided a Replacement Engine, as provided for in this Section 7.06(b), (x) the Lien of this Trust Indenture shall continue with respect to such Replacement Engine; the Indenture Trustee shall, at the cost and expense of the Owner, release from the Lien of this Trust Indenture the replaced Engine by executing and delivering to the Owner such documents and instruments, prepared at the Owner's expense, as the Owner may reasonably request to evidence such release; and (y) the Indenture Trustee shall assign to the Owner all claims it may have against any other Person arising from an Event of Loss of such replaced Engine giving rise to such substitution and the Owner shall receive all insurance proceeds and proceeds from any award in respect of condemnation, confiscation, seizure or requisition, including any investment interest thereon, to the extent not previously applied to the purchase price of the Replacement Engine, as provided in Sections 7.04(b) and 7.06(c)(ii) hereof. For all purposes hereof, each such Replacement Engine shall, after such conveyance, be deemed part of the property subject to the Lien of this Trust Indenture, and shall be deemed an "EngineENGINE".

Substitution with Respect to an Engine. The Owner shall (i) so long as no Default or Event of Default has occurred which has not been remedied or waived, have the right to substitute a Replacement Engine for any Engine at its option at any time, on at least thirty (30) days' prior written notice to the Indenture Trustee and (ii) substitute a Replacement Engine for an Engine if an Event of Loss shall have occurred with respect to such Engine (under circumstances in which there has not occurred an Event of Loss with respect to the Airframe) within sixty (60) days after the occurrence of such Event of Loss (such Replacement Engine to be of the same or another manufacturer of the same, an equivalent or an improved model and suitable for installation and use on the Airframe without impairing the value, utility or remaining useful life of the Aircraft; provided that both all Engines shall be of the same make and model) free and clear of all Liens (other than Permitted Liens) and having a value, utility and remaining useful life (without regard to hours or cycles) at least equal to the replaced Engine assuming no Event of Loss had occurred and that such replaced Engine had been maintained in accordance with the provisions of this Trust Indenture. Prior to or at the time of any such substitution, the Owner, at its own expense, will (1) furnish the Indenture Trustee with (A) a copy of the original xxxx of sale with respect to such Replacement Engine and (B) appropriate instruments assigning to the Indenture Trustee the benefits, if any, of all manufacturer's and vendor's warranties generally available and permitted to be assigned by the Owner with respect to such Replacement Engine, (2) cause a Trust Indenture Supplement to be duly executed by the Owner and to be filed for recording pursuant to the Federal Aviation Act, or the applicable laws, rules and regulations of any other jurisdiction in which the Aircraft may then be registered as permitted by Section 8(f) of the Participation Agreement, (3) cause a financing statement or statements covering the Lien created by this Trust Indenture with respect to the Replacement Engine to be filed in such place or places as are deemed necessary or desirable by counsel for the Indenture Trustee to perfect the Indenture Trustee's interest therein, (4) furnish the Indenture Trustee with such evidence of compliance with the insurance provisions of Section 7.04 hereof with respect to such Replacement Engine as the Indenture Trustee may reasonably request, and (5) furnish the Indenture Trustee with (A) an opinion of in-house counsel to the Owner, or other counsel satisfactory to the Indenture Trustee, stating that the Replacement Engine has been validly subjected to the Lien of this Trust Indenture, the instruments subjecting such Replacement Engine to the Lien of this Trust Indenture have been duly filed for recordation pursuant to the Federal Aviation Act or any other law then applicable to the registration of the Aircraft, and no further action, filing or recording of any document is necessary or advisable in order to establish and perfect the Lien of this Trust Indenture on such Replacement Engine and (B) a certificate signed by a duly authorized officer of the Owner stating the following: (i) a description of the replaced Engine which shall be identified by manufacturer's serial number; (ii) a description of the Replacement Engine (including the manufacturer's name and serial number) as consideration for the replaced Engine; (iii) that such Replacement Engine is substantially the same as the replaced Engine (or an improved model); and (iv) the value, utility and remaining useful life (without regard to hours or cycles) of the Replacement Engine as of the date of such certificate (which in the judgment of the Owner shall not be less than the then value, utility and remaining useful life (without regard to hours or cycles) of the Engine requested to be released (assuming no Event of Loss and that such Engine was in the condition and repair required to be maintained under this Trust Indenture). Upon the Owner having provided a Replacement Engine, as provided for in this Section 7.06(b), (x) the Lien of this Trust Indenture shall continue with respect to such Replacement Engine; the Indenture Trustee shall, at the cost and expense of the Owner, release from the Lien of this Trust Indenture the replaced Engine by executing and delivering to the Owner such documents and instruments, prepared at the Owner's expense, as the Owner may reasonably request to evidence such release; and (y) the Indenture Trustee shall assign to the Owner all claims it may have against any other Person arising from an Event of Loss of such replaced Engine giving rise to such substitution and the Owner shall receive all insurance proceeds and proceeds from any award in respect of condemnation, confiscation, seizure or requisition, including any investment interest thereon, to the extent not previously applied to the purchase price of the Replacement Engine, as provided in Sections 7.04(b) and 7.06(c)(ii) hereof. For all purposes hereof, each such Replacement Engine shall, after such conveyance, be deemed part of the property subject to the Lien of this Trust Indenture, and shall be deemed an "Engine".