Common use of TERMINATION OF EXISTING FINANCING AGREEMENTS Clause in Contracts

TERMINATION OF EXISTING FINANCING AGREEMENTS. (a) The Existing Lease and Existing Sublease for the Aircraft shall be terminated, and each of the Existing Lessor and Lessee shall take such action to evidence such termination as Owner Trustee or Mortgagee shall reasonably request, including execution and delivery of a termination agreement for the Existing Lease and Existing Sublease in form and substance reasonably acceptable to Owner Trustee and satisfactory for filing with the FAA, and UCC-3 termination statements with respect to the termination of the Existing Lease and Existing Sublease.

TERMINATION OF EXISTING FINANCING AGREEMENTS. (a) The Existing Lease and Existing Sublease for the Aircraft shall be terminatedterminated in order to be replaced by the Lease and the Express Sublease, and each of the Existing Lessor and Lessee shall take such action to evidence such termination as Owner Trustee or Mortgagee shall reasonably request, including execution and delivery of a termination agreement for the Existing Lease and Existing Sublease in form and substance reasonably acceptable to Owner Trustee and satisfactory for filing with the FAA, and UCC-3 termination statements with respect to the termination of the Existing Lease and Existing Sublease.