Common use of ENGINE EXCHANGE Clause in Contracts

ENGINE EXCHANGE. Unless a Payment Default, Bankruptcy Default or Event of Default shall have occurred and be continuing, upon not less than 30 days' prior written notice to Security Trustee, Borrower may replace any Engine subject to the Lien of this Agreement with another engine (the "EXCHANGED ENGINE") meeting the requirements of Section 3.4(d)(ii). Such Exchanged Engine shall be deemed to be a "Replacement Engine" and Borrower and Security Trustee shall comply with the provisions of Section 3.4(e) with regard to the Exchanged Engine and the Engine so replaced.

ENGINE EXCHANGE. Unless a Payment Default, Bankruptcy Default or Event of Default shall have occurred and be continuing, upon not less than 30 days' prior written notice to the Security Trustee, the Borrower may replace any Engine subject to the Lien of this Agreement with another engine (the "EXCHANGED ENGINEExchanged Engine") meeting the requirements of Section 3.4(d)(ii3.4(c)(ii). Such Exchanged Engine shall be deemed to be a "Replacement Engine" and the Borrower and the Security Trustee shall comply with the provisions of Section 3.4(e3.4(d) with regard to the Exchanged Engine and the Engine so replaced.