Common use of Voluntary Alterations, Etc Clause in Contracts

Voluntary Alterations, Etc. Lessee, at its own cost and expense, may, from time to time make (or cause to be made), subject to the standards set forth in Section 8.1.1, such alterations and modifications in and additions to the Aircraft, Airframe or any Engine as Lessee may deem desirable in the proper conduct of its business, including, without limitation, removal of Parts which Lessee deems obsolete or no longer suitable or appropriate for use in the Aircraft, Airframe or such Engine; provided, however, that no such alteration, modification, addition or removal shall diminish the value, remaining useful life, or utility of the Aircraft, Airframe or such Engine, or impair the condition or airworthiness thereof, below the value, remaining useful life, utility, condition and airworthiness thereof immediately prior to such alteration, modification or addition assuming the Aircraft, Airframe or such Engine was then of the value and utility and in the condition and airworthiness required to be maintained by the terms of this Lease. Title to all parts incorporated in the Aircraft, Airframe or such Engine as the result of such alteration, modification or addition shall remain vested in Lessee and Lessee may, at any time during the Term, remove any such part if (i) such part is in addition to, and not in replacement of or substitution for, any Part originally incorporated in the Aircraft, Airframe or such Engine at the time of delivery thereof hereunder or any Part in replacement of or substitution for any such Part, (ii) such part is not required to be incorporated in the Aircraft, Airframe or such Engine pursuant to the terms of this Section 8, (iii) such part can be removed from the Aircraft, Airframe or such Engine without diminishing or impairing the value, remaining useful life, utility, condition or airworthiness required to be maintained by the terms of this Lease which the Aircraft, Airframe or such Engine would have had at such time had such alteration, modification or addition not occurred, SALE AND LEASE AGREEMENT [N621SW] -31- 38 and (iv) no Lease Event of Default or Lease Default shall have occurred and be continuing. Title to all other such parts shall, without further act, vest in Lessor and shall constitute "Parts" for all purposes hereunder. Upon the removal of any part title to which is retained by Lessee, Lessee shall promptly repair any damage to the Airframe or Engine from which it was removed which resulted from such removal and such part shall no longer be deemed part of the Airframe or such Engine from which it was removed. Any part not removed by Lessee as above provided prior to the return of the Aircraft, Airframe or such Engine to Lessor hereunder shall, without further act, vest in Lessor and shall constitute a "Part" for all purposes hereunder.

Voluntary Alterations, Etc. Lessee, at its own cost and expense, may, from time to time make (or cause to be made), subject to the standards set forth in Section 8.1.1, such alterations and modifications in and additions to the Aircraft, Airframe or any Engine as Lessee may deem desirable in the proper conduct of its business, including, without limitation, removal of Parts which Lessee deems obsolete or no longer suitable or appropriate for use in the Aircraft, Airframe or such Engine; provided, however, that no such alteration, modification, addition or removal shall diminish the value, remaining useful life, or utility of the Aircraft, Airframe or such Engine, or impair the condition or airworthiness thereof, below the value, remaining useful life, utility, condition and airworthiness thereof immediately prior to such alteration, modification or addition assuming the Aircraft, Airframe or such Engine was then of the value and utility and in the condition and airworthiness required to be maintained by the terms of this Lease. Title to all parts incorporated in the Aircraft, Airframe or such Engine as the result of such alteration, modification or addition shall remain vested in Lessee and Lessee may, at any time during the Term, remove any such part if (i) such part is in addition to, and not in replacement of or substitution for, any Part originally incorporated in the Aircraft, Airframe or such Engine at the time of delivery thereof hereunder or any Part in replacement of or substitution for any such Part, (ii) such part is not required to be incorporated in the Aircraft, Airframe or such Engine pursuant to the terms of this Section 8, (iii) such part can be removed from the Aircraft, Airframe or such Engine without diminishing or impairing the value, remaining useful life, utility, condition or airworthiness required to be maintained by the terms of this Lease which the Aircraft, Airframe or such Engine would have had at such time had such alteration, modification or addition not occurred, SALE AND LEASE AGREEMENT [N621SW] -31- 38 and (iv) no Lease Event of Default or Lease Default shall have occurred and be continuing. Title to all other such parts shall, without further act, vest in Lessor and shall constitute "Parts" for all purposes hereunder. Upon the removal of any part title to which is retained by Lessee, Lessee shall promptly repair any damage to the Airframe or Engine from which it was removed which resulted from such removal and such part shall no longer be deemed part of the Airframe or such Engine from which it was removed. Any part not removed by Lessee as above provided prior to the return of the Aircraft, Airframe or such Engine to Lessor hereunder shall, without further act, vest in Lessor and shall constitute a "Part" for all purposes hereunder.,

Voluntary Alterations, Etc. Lessee, at its own cost and expense, may, from time to time make (or cause to be made), subject to the standards set forth in Section 8.1.1, such alterations and modifications in and additions to the Aircraft, Airframe or any Engine as Lessee may deem desirable in the proper conduct of its business, including, without limitation, removal of Parts which Lessee deems obsolete or no longer suitable or appropriate for use in the Aircraft, Airframe or such Engine; provided, however, that no such alteration, modification, addition or removal shall diminish the value, remaining useful life, or utility of the Aircraft, Airframe or such Engine, or impair the condition or airworthiness thereof, below the value, remaining useful life, utility, condition and airworthiness thereof immediately prior to such alteration, modification or addition assuming the Aircraft, Airframe or such Engine was then of the value and utility and in the condition and airworthiness required to be maintained by the terms of this Lease. Title to all parts incorporated in the Aircraft, Airframe or such Engine as the result of such alteration, modification or addition shall remain vested in Lessee and Lessee may, at any time during the Term, remove any such part if (i) such part is in addition to, and not in replacement of or substitution for, any Part originally incorporated in the Aircraft, Airframe or such Engine at the time of delivery thereof hereunder or any Part in replacement of or substitution for any such Part, (ii) such part is not required to be incorporated in the Aircraft, Airframe or such Engine pursuant to the terms of this Section 8, (iii) such part can be removed from the Aircraft, Airframe or such Engine without diminishing or impairing the value, remaining useful life, utility, condition or airworthiness required to be maintained by the terms of this Lease which the Aircraft, Airframe or such Engine would have had at such time had such alteration, SALE AND LEASE AGREEMENT [N605SW] -31- 38 modification or addition not occurred, SALE AND LEASE AGREEMENT [N621SW] -31- 38 and (iv) no Lease Event of Default or Lease Default shall have occurred and be continuing. Title to all other such parts shall, without further act, vest in Lessor and shall constitute "Parts" for all purposes hereunder. Upon the removal of any part title to which is retained by Lessee, Lessee shall promptly repair any damage to the Airframe or Engine from which it was removed which resulted from such removal and such part shall no longer be deemed part of the Airframe or such Engine from which it was removed. Any part not removed by Lessee as above provided prior to the return of the Aircraft, Airframe or such Engine to Lessor hereunder shall, without further act, vest in Lessor and shall constitute a "Part" for all purposes hereunder.

Voluntary Alterations, Etc. Lessee, at its own cost and expense, may, from time to time make (or cause to be made), subject to the standards set forth in Section 8.1.1, such alterations and modifications in and additions to the Aircraft, Airframe or any Engine as Lessee may deem desirable in the proper conduct of its business, including, without limitation, removal of Parts which Lessee deems obsolete or no longer suitable or appropriate for use in the Aircraft, Airframe or such Engine; provided, however, that no such alteration, modification, addition or removal shall diminish the value, remaining useful life, or utility of the Aircraft, Airframe or such Engine, or impair the condition or airworthiness thereof, below the value, remaining useful life, utility, condition and airworthiness thereof immediately prior to such alteration, modification or addition assuming the Aircraft, Airframe or such Engine was then of the value and utility and in the condition and airworthiness required to be maintained by the terms of this Lease. Title to all parts incorporated in the Aircraft, Airframe or such Engine as the result of such alteration, modification or addition shall remain vested in Lessee and Lessee may, at any time during the Term, remove any such part if (i) such part is in addition to, and not in replacement of or substitution for, any Part originally incorporated in the Aircraft, Airframe or such Engine at the time of delivery thereof hereunder or any Part in replacement of or substitution for any such Part, (ii) such part is not required to be incorporated in the Aircraft, Airframe or such Engine pursuant to the terms of this Section 8, (iii) such part can be removed from the Aircraft, Airframe or such Engine without diminishing or impairing the value, remaining useful life, utility, condition or airworthiness required to be maintained by the terms of this Lease which the Aircraft, Airframe or such Engine would have had at such time had such alteration, modification or addition not occurred, SALE AND LEASE AGREEMENT [N621SW] -31- 38 and (iv) no Lease Event of Default or Lease Default shall have occurred and be continuing. Title to all other such parts shall, without further act, vest in Lessor and shall constitute "Parts" for all purposes hereunder. Upon the removal of any part title to which is retained by Lessee, Lessee shall promptly repair any damage to the Airframe or Engine from which it was removed which resulted from such removal and such part shall no longer be deemed part of the Airframe or such Engine from which it was removed. Any part not removed by Lessee as above provided prior to the return of the Aircraft, Airframe or such Engine to Lessor hereunder shall, without further act, vest in Lessor and shall constitute a "Part" for all purposes hereunder.

Voluntary Alterations, Etc. Lessee, at its own cost and expense, may, from time to time make (or cause to be made), subject to the standards set forth in Section 8.1.1, such alterations and modifications in and additions to the Aircraft, Airframe or any Engine as Lessee may deem desirable in the proper conduct of its business, including, without limitation, removal of Parts which Lessee deems obsolete or no longer suitable or appropriate for use in the Aircraft, Airframe or such Engine; provided, however, that no such alteration, modification, addition or removal shall diminish the value, remaining useful life, or utility of the Aircraft, Airframe or such Engine, or impair the condition or airworthiness thereof, below the value, remaining useful life, utility, condition and airworthiness thereof immediately prior to such alteration, modification or addition assuming the Aircraft, Airframe or such Engine was then of the value and utility and in the condition and airworthiness required to be maintained by the terms of this Lease. Title to all parts incorporated in the SALE AND LEASE AGREEMENT [N604SW] -31- 38 Aircraft, Airframe or such Engine as the result of such alteration, modification or addition shall remain vested in Lessee and Lessee may, at any time during the Term, remove any such part if (i) such part is in addition to, and not in replacement of or substitution for, any Part originally incorporated in the Aircraft, Airframe or such Engine at the time of delivery thereof hereunder or any Part in replacement of or substitution for any such Part, (ii) such part is not required to be incorporated in the Aircraft, Airframe or such Engine pursuant to the terms of this Section 8, (iii) such part can be removed from the Aircraft, Airframe or such Engine without diminishing or impairing the value, remaining useful life, utility, condition or airworthiness required to be maintained by the terms of this Lease which the Aircraft, Airframe or such Engine would have had at such time had such alteration, modification or addition not occurred, SALE AND LEASE AGREEMENT [N621SW] -31- 38 and (iv) no Lease Event of Default or Lease Default shall have occurred and be continuing. Title to all other such parts shall, without further act, vest in Lessor and shall constitute "Parts" for all purposes hereunder. Upon the removal of any part title to which is retained by Lessee, Lessee shall promptly repair any damage to the Airframe or Engine from which it was removed which resulted from such removal and such part shall no longer be deemed part of the Airframe or such Engine from which it was removed. Any part not removed by Lessee as above provided prior to the return of the Aircraft, Airframe or such Engine to Lessor hereunder shall, without further act, vest in Lessor and shall constitute a "Part" for all purposes hereunder.

Voluntary Alterations, Etc. Lessee, at its own cost and expense, may, from time to time make (or cause to be made), subject to the standards set forth in Section 8.1.1, such alterations and modifications in and additions to the Aircraft, Airframe or any Engine as Lessee may deem desirable in the proper conduct of its business, including, without limitation, removal of Parts which Lessee deems obsolete or no longer suitable or appropriate for use in the Aircraft, Airframe or such Engine; provided, however, that no such alteration, modification, addition or removal shall diminish the value, remaining useful life, or utility of the Aircraft, Airframe or such Engine, or impair the condition or airworthiness thereof, below the value, remaining useful life, utility, condition and airworthiness thereof immediately prior to such alteration, modification or addition assuming the Aircraft, Airframe or such Engine was then of the value and utility and in the condition and airworthiness required to be maintained by the terms of this Lease. Title to all parts incorporated in the Aircraft, Airframe or such Engine as the result of such alteration, modification or addition shall remain vested in Lessee and Lessee may, at any time during the Term, remove any such part if (i) such part is in addition to, and not in replacement of or substitution for, any Part originally incorporated in the Aircraft, Airframe or such Engine at the time of delivery thereof hereunder or any Part in replacement of or substitution for any such Part, (ii) such part is not required to be incorporated in the Aircraft, Airframe or such Engine pursuant to the terms of this Section 8, (iii) such part can be removed from the Aircraft, Airframe or such Engine without diminishing or impairing the value, remaining useful life, utility, condition or airworthiness required to be maintained by the terms of this Lease which the Aircraft, Airframe or such Engine would have had at such time had SALE AND LEASE AGREEMENT [N397SW] -32- 39 such alteration, modification or addition not occurred, SALE AND LEASE AGREEMENT [N621SW] -31- 38 and (iv) no Lease Event of Default or Lease Default shall have occurred and be continuing. Title to all other such parts shall, without further act, vest in Lessor and shall constitute "Parts" for all purposes hereunder. Upon the removal of any part title to which is retained by Lessee, Lessee shall promptly repair any damage to the Airframe or Engine from which it was removed which resulted from such removal and such part shall no longer be deemed part of the Airframe or such Engine from which it was removed. Any part not removed by Lessee as above provided prior to the return of the Aircraft, Airframe or such Engine to Lessor hereunder shall, without further act, vest in Lessor and shall constitute a "Part" for all purposes hereunder.

Voluntary Alterations, Etc. Lessee, at its own cost and expense, may, from time to time make (or cause to be made), subject to the standards set forth in Section 8.1.1, such alterations and modifications in and additions to the Aircraft, Airframe or any Engine as Lessee may deem desirable in the proper conduct of its business, including, without limitation, removal of Parts which Lessee deems obsolete or no longer suitable or appropriate for use in the Aircraft, Airframe or such Engine; provided, however, that no such alteration, modification, addition or removal shall diminish the value, remaining useful life, or utility of the Aircraft, Airframe or such Engine, or impair the condition or airworthiness thereof, below the value, remaining useful life, utility, condition and airworthiness thereof immediately prior to such alteration, modification or addition assuming the Aircraft, Airframe or such Engine was then of the value and utility and in the condition and airworthiness required to be maintained by the terms of this Lease. Title to all parts incorporated in the Aircraft, Airframe or such Engine as the result of such alteration, modification or addition shall remain vested in Lessee and Lessee may, at any time during the Term, remove any such part if (i) such part is in addition to, and not in replacement of or substitution for, any Part originally incorporated in the Aircraft, Airframe or such Engine at the time of delivery thereof hereunder or any Part in replacement of or substitution for any such Part, (ii) such part is not required to be incorporated in the Aircraft, Airframe or such Engine pursuant to the terms of this Section 8, (iii) such part can be removed from the Aircraft, Airframe or such Engine without diminishing or impairing the value, remaining useful life, utility, condition or airworthiness required to be maintained by the terms of this Lease which the Aircraft, Airframe or such Engine would have had at such time had SALE AND LEASE AGREEMENT [N396SW] -32- 39 such alteration, modification or addition not occurred, SALE AND LEASE AGREEMENT [N621SW] -31- 38 and (iv) no Lease Event of Default or Lease Default shall have occurred and be continuing. Title to all other such parts shall, without further act, vest in Lessor and shall constitute "Parts" for all purposes hereunder. Upon the removal of any part title to which is retained by Lessee, Lessee shall promptly repair any damage to the Airframe or Engine from which it was removed which resulted from such removal and such part shall no longer be deemed part of the Airframe or such Engine from which it was removed. Any part not removed by Lessee as above provided prior to the return of the Aircraft, Airframe or such Engine to Lessor hereunder shall, without further act, vest in Lessor and shall constitute a "Part" for all purposes hereunder.