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Common use of Title to Parts Clause in Contracts

Title to Parts. All Parts at any time removed from the Airframe or any Engine or Propeller, shall remain subject to this Lease and the Mortgage, no matter where located, until such time as such Parts shall be replaced by Parts that have been incorporated or installed in or attached to such Airframe, Engine or Propeller and that meet the requirements for replacement Parts specified above. Immediately upon any replacement Part (other than a temporary replacement Part) becoming incorporated or installed in or attached to any Airframe, Engine or Propeller as above provided, without further act, (i) title to such replacement Part shall thereupon immediately vest in the Lessor; (ii) title to the replaced Part shall thereupon vest in Lessee, free and clear of all rights of Lessor, Financier(s) and Owner Participant, and shall no longer be deemed a Part hereunder; and (iii) such replacement Part shall become subject to this Lease and the Lien of the Financiers and be deemed part of such Airframe, Engine or Propeller, as the case may be, for all purposes hereof to the same extent as the Parts originally incorporated or installed in or attached to such Airframe, Engine or Propeller.

Appears in 3 contracts

Samples: Purchase Agreement (Atlantic Coast Airlines Inc), Purchase Agreement (Atlantic Coast Airlines Inc), Purchase Agreement (Atlantic Coast Airlines Inc)

Title to Parts. All Except as otherwise provided in the proviso to the third sentence of Section 7(d), all Parts at any time removed from the Airframe or any Engine or Propeller, shall remain the property of the Lessor and subject to this Lease and the MortgageLease, no matter where located, until such time as such Parts shall be replaced by Parts that have been incorporated or installed in or attached to such Airframe, Airframe or Engine or Propeller and that meet the requirements for replacement Parts specified abovein Section 7(a). Immediately upon any replacement Part (other than a temporary replacement Part) becoming incorporated or installed in or attached to any Airframe, an Airframe or Engine or Propeller as above providedprovided in Section 7(a), without further act, (i) title to such replacement Part shall thereupon immediately vest in the Lessor; (ii) title to the replaced Part shall thereupon vest in Lesseethe Lessee (or the relevant Permitted Sublessee), in "as-is, where-is" condition, free and clear of all rights of the Lessor and the Indenture Trustee and any Lessor, Financier(s) and Owner Participant, 's Liens and shall no longer be deemed a Part hereunder; (ii) title to such replacement Part shall thereupon vest in the Lessor (subject only to Permitted Liens); and (iii) such replacement Part shall become subject to this Lease and the Lien of the Financiers and be deemed part of such Airframe, Engine Airframe or PropellerEngine, as the case may be, for all purposes hereof to the same extent as the Parts originally incorporated or installed in or attached to such Airframe, Engine Airframe or PropellerEngine.

Appears in 3 contracts

Samples: Lease Agreement (Midway Airlines Corp), Note Purchase Agreement (Midway Airlines Corp), Lease Agreement (Midway Airlines Corp)

Title to Parts. All Except in respect of any Part as to which title vests in Lessee upon removal as provided in the proviso to the third sentence of Section 7(d) and the fourth sentence of Section 7(d), all Parts at any time removed from the Airframe or any Engine or Propeller, shall remain the property of the Lessor and subject to this Lease and the MortgageLease, no matter where located, until such time as such Parts shall -14- be replaced by Parts that have been incorporated or installed in or attached to such Airframe, Airframe or Engine or Propeller and that meet the requirements for replacement Parts specified abovein Section 7(a). Immediately upon any replacement Part (other than a temporary replacement Part) becoming incorporated or installed in or attached to any Airframe, an Airframe or Engine or Propeller as above providedprovided in Section 7(a), without further act, (i) title to such replacement Part shall thereupon immediately vest in the Lessor; (ii) title to the replaced Part shall thereupon vest in Lesseethe Lessee (or the relevant Permitted Sublessee), in "as-is, where-is" condition, free and clear of all rights of the Lessor and any Lessor, Financier(s) and Owner Participant, 's Liens and shall no longer be deemed a Part hereunder; (ii) title to such replacement Part shall thereupon vest in the Lessor (subject only to Permitted Liens); and (iii) such replacement Part shall become subject to this Lease and the Lien of the Financiers and be deemed part of such Airframe, Engine Airframe or PropellerEngine, as the case may be, for all purposes hereof to the same extent as the Parts originally incorporated or installed in or attached to such Airframe, Engine Airframe or PropellerEngine.

Appears in 2 contracts

Samples: Lease Agreement (Republic Airways Holdings Inc), Lease Agreement (Republic Airways Holdings Inc)

Title to Parts. All Except in respect of any Part as to which title vests in Lessee upon removal as provided in the proviso to the third sentence of Section 7(d) and the fourth sentence of Section 7(d), all Parts at any time removed from the Airframe or any Engine or Propeller, shall remain the property of the Lessor and subject to this Lease and the MortgageLease, no matter where located, until such time as such Parts shall be replaced by Parts that have been incorporated or installed in or attached to such Airframe, Airframe or Engine or Propeller and that meet the requirements for replacement Parts specified abovein Section 7(a). Immediately upon any replacement Part (other than a temporary replacement Part) becoming incorporated or installed in or attached to any Airframe, an Airframe or Engine or Propeller as above providedprovided in Section 7(a), without further act, (i) title to such replacement Part shall thereupon immediately vest in the Lessor; (ii) title to the replaced Part shall thereupon vest in Lesseethe Lessee (or the relevant Permitted Sublessee), in "as-is, where-is" condition, free and clear of all rights of the Lessor and any Lessor, Financier(s) and Owner Participant, 's Liens and shall no longer be deemed a Part hereunder; (ii) title to such replacement Part shall thereupon vest in the Lessor (subject only to Permitted Liens); and (iii) such replacement Part shall become subject to this Lease and the Lien of the Financiers and be deemed part of such Airframe, Engine Airframe or PropellerEngine, as the case may be, for all purposes hereof to the same extent as the Parts originally incorporated or installed in or attached to such Airframe, Engine Airframe or PropellerEngine.

Appears in 2 contracts

Samples: Lease Agreement (Republic Airways Holdings Inc), Lease Agreement (Republic Airways Holdings Inc)

Title to Parts. All Except as otherwise provided in the proviso to the third sentence of Section 7(d), all Parts at any time removed from the Airframe or any Engine or Propeller, shall remain the property of the Lessor and subject to this Lease and the MortgageLease, no matter where located, until such time as such Parts shall be replaced by Parts parts that have been incorporated or installed in or attached to the Airframe or such Airframe, Engine or Propeller and that meet the requirements for replacement Parts parts specified abovein Section 7(a). Immediately upon any replacement Part (other than a temporary replacement Part) part becoming incorporated or installed in or attached to any Airframe, the Airframe or an Engine or Propeller as above providedprovided in Section 7(a), without further act, (i) title to such replacement Part shall thereupon immediately vest in the Lessor; (ii) title to the replaced Part shall thereupon vest in Lesseethe Lessee (or the relevant Permitted Sublessee), in "as-is, where-is" condition, free and clear of all rights of the Lessor and the Indenture Trustee and any Lessor, Financier(s) and Owner Participant, 's Liens and shall no longer be deemed a Part hereunder; (ii) title to such replacement part shall thereupon vest in the Lessor (subject only to Permitted Liens); and (iii) such replacement Part part shall become a Part subject to this Lease and the Lien of the Financiers and be deemed part of the Airframe or such Airframe, Engine or PropellerEngine, as the case may be, for all purposes hereof to the same extent as the Parts parts originally incorporated or installed in or attached to the Airframe or such Airframe, Engine or PropellerEngine.

Appears in 1 contract

Samples: Lease Agreement (Midway Airlines Corp)

Title to Parts. All Except as otherwise provided in the proviso to the third sentence of Section 7(d), all Parts at any time removed from the Airframe or any Engine or Propeller, shall remain the property of the Lessor and subject to this Lease and the MortgageLease, no matter where located, until such time as such Parts shall be replaced by Parts that have been incorporated or installed in or attached to such Airframe, Airframe or Engine or Propeller and that meet the requirements for replacement Parts specified abovein Section 7(a). Immediately upon any replacement Part (other than a temporary replacement Part) becoming incorporated or installed in or attached to any Airframe, an Airframe or Engine or Propeller as above providedprovided in Section 7(a), without further act, (i) title to such replacement Part shall thereupon immediately vest in the Lessor; (ii) title to the replaced Part shall thereupon vest in the Lessee, in "as-is, where-is" condition, free and clear of all rights of the Lessor and the Indenture Trustee and any Lessor, Financier(s) and Owner Participant, 's Liens and shall no longer be deemed a Part hereunder; (ii) title to such replacement Part shall thereupon vest in the Lessor (subject only to Permitted Liens); and (iii) such replacement Part shall become subject to this Lease and the Lien of the Financiers and be deemed part of such Airframe, Engine Airframe or PropellerEngine, as the case may be, for all purposes hereof to the same extent as the Parts originally incorporated or installed in or attached to such Airframe, Engine Airframe or PropellerEngine.

Appears in 1 contract

Samples: Note Purchase Agreement (Midway Airlines Corp)

Title to Parts. All Except as otherwise provided in the proviso to the third sentence of Section 7(d), all Parts at any time removed from the Airframe or any Engine or Propeller, shall remain the property of the Lessor and subject to this Lease and the MortgageLease, no matter where located, until such time as such Parts shall be replaced by Parts that have been incorporated or installed in or attached to such Airframe, Airframe or Engine or Propeller and that meet the requirements for replacement Parts specified abovein Section 7(a). Immediately upon any replacement Part (other than a temporary replacement Part) becoming incorporated or installed in or attached to any Airframe, an Airframe or Engine or Propeller as above providedprovided in Section 7(a), without further act, (i) title to such replacement Part shall thereupon immediately vest in the Lessor; (ii) title to the replaced Part shall thereupon vest in Lesseethe Lessee (or the relevant Permitted Sublessee), in "as-is, where-is" condition, free and clear of all rights of the Lessor and any Lessor, Financier(s) and Owner Participant, 's Liens and shall no longer be deemed a Part hereunder; (ii) title to such replacement Part shall thereupon vest in the Lessor (subject only to Permitted Liens); and (iii) such replacement Part shall become subject to this Lease and the Lien of the Financiers and be deemed part of such Airframe, Engine Airframe or PropellerEngine, as the case may be, for all purposes hereof to the same extent as the Parts originally incorporated or installed in or attached to such Airframe, Engine Airframe or PropellerEngine.

Appears in 1 contract

Samples: Lease Agreement (Midway Airlines Corp)

Title to Parts. All Except as otherwise provided in the proviso to the third sentence of Section 7(d), all Parts at any time removed from the Airframe or any Engine or Propeller, shall remain the property of the Lessor and subject to this Lease and the MortgageLease, no matter where located, until such time as such Parts shall be replaced by Parts that have been incorporated or installed in or attached to the Airframe or such Airframe, Engine or Propeller and that meet the requirements for replacement Parts specified abovein Section 7(a). Immediately upon any replacement Part (other than a temporary replacement Part) becoming incorporated or installed in or attached to any Airframe, the Airframe or an Engine or Propeller as above providedprovided in Section 7(a), without further act, (i) title to such replacement Part shall thereupon immediately vest in the Lessor; (ii) title to the replaced Part shall thereupon vest in Lesseethe Lessee (or the relevant Permitted Sublessee), in "as-is, where-is" condition, free and clear of all rights of the Lessor and the Indenture Trustee and any Lessor, Financier(s) and Owner Participant, 's Liens and shall no longer be deemed a Part hereunder; (ii) title to such replacement Part shall thereupon vest in the Lessor (subject only to Permitted Liens); and (iii) such replacement Part shall become subject to this Lease and the Lien of the Financiers and be deemed part of the Airframe or such Airframe, Engine or PropellerEngine, as the case may be, for all purposes hereof to the same extent as the Parts originally incorporated or installed in or attached to the Airframe or such Airframe, Engine or PropellerEngine.

Appears in 1 contract

Samples: Lease Agreement (Midway Airlines Corp)

Title to Parts. All Except as otherwise provided in the proviso to the third sentence of Section 7(d), all Parts at any time removed from the Airframe or any Engine or Propeller, shall remain the property of the Lessor and subject to this Lease and the MortgageLease, no matter where located, until such time as such Parts shall be replaced by Parts that have been incorporated or installed in or attached to such Airframe, Airframe or Engine or Propeller and that meet the requirements for replacement Parts specified abovein Section 7(a). Immediately upon any replacement Part (other than a temporary replacement Part) becoming incorporated or installed in or attached to any Airframe, an Airframe or Engine or Propeller as above providedprovided in Section 7(a), without further act, (i) title to such replacement Part shall thereupon immediately vest in the Lessor; (ii) title to the replaced Part shall thereupon vest in Lesseethe Lessee (or the relevant Permitted Sublessee), in "as-is, where-is" condition without any representation or warranty by, or recourse to, Lessor, free and clear of all rights of the Lessor and any Lessor, Financier(s) and Owner Participant, 's Liens and shall no longer be deemed a Part hereunder; (ii) title to such replacement Part shall thereupon vest in the Lessor, free and clear of all Liens (other than Permitted Liens); and (iii) such replacement Part shall become subject to this Lease and the Lien of the Financiers and be deemed part of such Airframe, Engine Airframe or PropellerEngine, as the case may be, for all purposes hereof to the same extent as the Parts originally incorporated or installed in or attached to such Airframe, Engine Airframe or PropellerEngine.

Appears in 1 contract

Samples: Lease Agreement (Midway Airlines Corp)