Component Replacement. 6.1 Upon embodiment of new or exchange Components covered by this Agreement into an Engine, the Parties agree that the newly embodied Component shall become the property of the Operator, and the removed Component shall become the property of P&WC.
Appears in 2 contracts
Sources: Term Cost Plan Agreement (Gulfstream International Group Inc), Term Cost Plan Agreement (Gulfstream International Group Inc)
Component Replacement. 6.1 Upon embodiment of new or exchange Components covered by this Agreement into an Engine, the Parties agree that the newly embodied Component shall become the property of the OperatorCustomer, and the removed Component shall become the property of P&WC. Components which are removed at Overhaul and which have value will be returned by P&WC to the Customer upon mutually agreeable delivery terms.
Appears in 1 contract
Sources: Term Cost Plan Agreement (Great Lakes Aviation LTD)