Common use of Event of Loss with Respect to an Engine Clause in Contracts

Event of Loss with Respect to an Engine. Upon the occurrence of an Event of Loss with respect to an Engine under circumstances in which there has not occurred an Event of Loss with respect to the related Airframe, the Lessee shall forthwith give the Lessor written notice thereof (but in any event within ten days of such occurrence) and shall, within 90 days after the occurrence of such Event of Loss, as replacement for the Engine with respect to which such Event of Loss occurred, subject to the Lien of the Mortgage another CFM International Inc. model CFM56-5B4 engine (or, in each case, an engine of the same manufacturer of the same or an improved model and suitable for installation and use on such Airframe and compatible with the other Engines mortgaged hereunder) free and clear of all Liens (other than Inchoate Liens) and having a value and utility (without regard to hours or cycles) at least equal to, and being in as good an operating condition (subject to maintenance permitted or required by this Lease), as the Engine subject to such Event of Loss, assuming such Engine was maintained in accordance with the provisions of the Mortgage. Prior to or at the time of any such conveyance, the Lessee will:

Event of Loss with Respect to an Engine. Upon the occurrence of an Event of Loss with respect to an Engine under circumstances in which there has not occurred an Event of Loss with respect to the related Airframe, the Lessee shall forthwith give the Lessor written notice thereof (but in any event within ten days of such occurrence) and shall, within 90 days after the occurrence of such Event of Loss, as replacement for the Engine with respect to which such Event of Loss occurred, subject to the Lien of the Mortgage another CFM International Inc. model CFM56-5B4 engine (or, in each case, an engine of the same manufacturer of the same or an improved model and suitable for installation and use on such the Airframe and compatible with the other Engines mortgaged hereunder) free and clear of all Liens (other than Inchoate Liens) and having a value and utility (without regard to hours or cycles) at least equal to, and being in as good an operating condition (subject to maintenance permitted or required by this Lease), as the Engine subject to such Event of Loss, assuming such Engine was maintained in accordance with the provisions of the Mortgage. Prior to or at the time of any such conveyance, the Lessee will: