Common use of ENGINE CONDITION Clause in Contracts

ENGINE CONDITION. In the event any engine not owned by Lessor shall be delivered with the Airframe, such engine shall be satisfactory to Lessor, free and clear of Liens, suitable for use on such Airframe and shall have the value and utility at least equal to, and be in as good operating condition (including no greater number of Flight Hours or Cycles accumulated on such engine) as the Engine that should have been returned, assuming such Engine which should have been returned was in the condition and repair as required by the terms hereof immediately prior to such required return. At its own expense and concurrently with such delivery, Lessee shall furnish Lessor with a ▇▇▇▇ of sale, in form and substance satisfactory to Lessor, for each such engine and with evidence of Lessee's title to such engine (including, if requested, an opinion of Lessee's counsel) and shall take such other action as Lessor may reasonably request in order that title to such engine shall be duly and properly vested in Lessor. Upon full compliance with this Clause 15.2 and passage of title to such engine to Lessor, such engine shall be an Engine for all purposes of this Agreement and Lessor will transfer to Lessee all right, title and interest that Lessor may have in an Engine constituting part of the Aircraft so returned but not installed on such Aircraft at the time of such return, without any representation, warranty or recourse of any kind whatsoever, express or implied, except a warranty that such Engine is free and clear of Lessor Liens; provided, however, that if Lessor requires in its absolute discretion, Lessee shall redeliver to Lessor any Engine not installed on the Aircraft at the time of redelivery hereunder notwithstanding any of the foregoing and in such circumstances Lessee shall not (if it has not already done so) be required to transfer to Lessor or other designee of Lessor right, title and interest in and to the engine then installed on the Airframe which shall remain vested in Lessee and Lessor shall not be required to transfer any right, title or interest in or to the Engine not so installed on the Airframe to Lessee as otherwise required by this Clause 15.2.

ENGINE CONDITION. In the event any engine not owned by Lessor shall be delivered with the Airframe, such engine shall be satisfactory to Lessor, free and clear of Liens, suitable for use on such Airframe and shall have the value and utility at least equal to, and be in as good operating condition (including no greater number of Flight Hours or Cycles accumulated on such engine) as the Engine that should have been returned, assuming such Engine which should have been returned was in the condition and repair as required by the terms hereof immediately prior to such required return. At its own expense and concurrently with such delivery, Lessee shall furnish Lessor with a ▇▇▇▇ bill of sale, in form and substance satisfactory to Lessor, for ▇▇▇ each such engine and with evidence of Lessee's title to such engine (including, if requested, an opinion of Lessee's counsel) and shall take such other action as Lessor may reasonably request in order that title to such engine shall be duly and properly vested in Lessor. Upon full compliance with this Clause 15.2 and passage of title to such engine to Lessor, such engine shall be an Engine for all purposes of this Agreement and Lessor will transfer to Lessee all right, title and interest that Lessor may have in an Engine constituting part of the Aircraft so returned but not installed on such Aircraft at the time of such return, without any representation, warranty or recourse of any kind whatsoever, express or implied, except a warranty that such Engine is free and clear of Lessor Liens; provided, however, that if Lessor requires in its absolute discretion, Lessee shall redeliver to Lessor any Engine not installed on the Aircraft at the time of redelivery hereunder notwithstanding any of the foregoing and in such circumstances Lessee shall not (if it has not already done so) be required to transfer to Lessor or other designee of Lessor right, title and interest in and to the engine then installed on the Airframe which shall remain vested in Lessee and Lessor shall not be required to transfer any right, title or interest in or to the Engine not so installed on the Airframe to Lessee as otherwise required by this Clause 15.2.