Examples of Spare Engine in a sentence
Such Grantor will not (or permit any Permitted Lessee to) maintain, use, store, service, repair, overhaul or operate any Aircraft or any Spare Engine in material violation of any law, rule, regulation, treaty, order or certificate of any government or Governmental Authority (domestic or foreign) having jurisdiction, or in violation of any airworthiness certificate or in material violation of any license or registration relating to such Aircraft or Spare Engine issued by any such authority.
All Parts at any time removed from any Airframe, any Engine, any Propeller or any Spare Engine shall remain the property of such Grantor and subject to the Lien of the Security Documents, no matter where located, until such time as such Parts shall be replaced by Parts which meet the requirements for replacement Parts specified above as certified to the Collateral Agent by an Officer’s Certificate from such Grantor.
Except as above provided, such Grantor will not allow the name of any Person other than the Grantors to be placed on any Airframe, any Engine, any Propeller or on any Spare Engine as a designation that might be interpreted as a claim of ownership or of any rights therein.
The purchase price for the Engine storage bag and transportation stand, if purchased from IAE, shall be the current IAE price in effect at the time of Spare Engine delivery.
Any such inspection of any Aircraft, any Spare Engine or any Pledged Spare Part shall be subject to such Grantor’s (or any Permitted Lessee’s) safety and security rules applicable at the location of such Collateral.