Common use of ENGINE EXCHANGE Clause in Contracts

ENGINE EXCHANGE. Upon not less than ten (10) Business Days' prior written notice from the Company to the Security Trustee, provided no Special Default or Event of Default shall have occurred and be continuing, and subject to compliance with Section 3.04(i) hereof if the final sentence of such Section is then applicable, the Security Trustee shall release from the Lien of this Mortgage pursuant to Section 3.04(b) one or more Engines specified in such notice (herein, the "Released Engines") upon the replacement of such Engines with other engines (the "Exchanged Engines") meeting the requirements of Section 3.04(a). Any such Exchanged Engine shall be deemed to be a "Replacement Engine" and the Security Trustee and the Company shall comply with the provisions of Section 3.04 with regard to the Exchanged Engine and the Released Engine, provided that if the Security Trustee requests a certificate of an independent appraiser pursuant to Section 3.04(c)(2)(C), then, notwithstanding anything to the contrary in Section 3.04(c)(2)(C), the fees and expenses of such appraiser shall be paid by the Security Trustee if the Security Trustee does not have a reasonable basis for requesting such appraisal and the appraisal supports the report of the Company's aircraft engineer, and such fees and expenses shall be paid by the Company in all other circumstances.

ENGINE EXCHANGE. Upon not less than ten (10) Business Days' prior written notice from the Company to the Security Trustee, provided no Special Default or Event of Default shall have occurred and be continuing, and subject to compliance with Section 3.04(i) hereof if the final sentence of such Section is then applicable, the Security Trustee shall release from the Lien of this Mortgage pursuant to Section 3.04(b) one or more Engines specified in such notice (herein, the "Released EnginesEngine") upon the replacement of such Engines with other engines (the "Exchanged Engines") meeting the requirements of Section 3.04(a). Any such Exchanged Engine shall be deemed to be a "Replacement Engine" and the Security Trustee and the Company shall comply with the provisions of Section 3.04 with regard to the Exchanged Engine and the Released Engine, provided that if the Security Trustee requests a certificate of an independent appraiser pursuant to Section 3.04(c)(2)(C), then, notwithstanding anything to the contrary in Section 3.04(c)(2)(C), the fees and expenses of such appraiser shall be paid by the Security Trustee if the Security Trustee does not have a reasonable basis for requesting such appraisal and the appraisal supports the report of the Company's aircraft engineer, and such fees and expenses shall be paid by the Company in all other circumstances.