Common use of INTERCHANGE AND POOLING Clause in Contracts

INTERCHANGE AND POOLING. Subject or permit any Permitted Sublessee to subject (x) the Airframe to an Airframe Interchange Agreement or (y) any Engine to normal interchange agreements or pooling agreements or arrangements, in each case customary in the commercial airline industry and entered into by Lessee or such Permitted Sublessee, as the case may be, in the ordinary course of business with an air carrier; PROVIDED, HOWEVER, that (A) (i) no such Agreement, agreement or arrangement shall under any circumstances result in, contemplate or require the transfer of title to the Aircraft, Airframe or any Engine and (ii) if the Lessor's title to any Engine shall nevertheless be divested under any such agreement or arrangement, such divestiture shall be deemed to be an Event of Loss with respect to such Engine and the Lessee shall be required to replace such Engine with a Replacement Engine meeting the requirements of, and in accordance with, Section 10; and (B) the party to such Airframe Interchange Agreement or interchange agreement is not then subject to a proceeding under applicable bankruptcy, insolvency or reorganization laws on the date such interchange agreement is entered into.

INTERCHANGE AND POOLING. Subject or permit any Permitted Sublessee Lessee to subject (x) the Airframe to an Airframe Interchange Agreement or (y) any Engine to normal interchange agreements or pooling agreements or arrangements, in each case customary in the commercial airline industry and entered into by Lessee Borrower or such Permitted SublesseeLessee, as the case may be, in the ordinary course of business with an air carrier; PROVIDED, HOWEVER, that (A) (i) no such Agreement, agreement or arrangement shall under any circumstances result in, contemplate or require the transfer of title to the Aircraft, Airframe or any Engine and (ii) if the LessorBorrower's title to any Engine shall nevertheless be divested under any such agreement or arrangement, such divestiture shall be deemed to be an Event of Loss with respect to such Engine and the Lessee Borrower shall be required to replace such Engine with a Replacement Engine meeting the requirements of, and in accordance with, Section 103.4; and (B) the party to such Airframe Interchange Agreement or interchange agreement is not then subject to a proceeding under applicable bankruptcy, insolvency or reorganization laws on the date such interchange agreement is entered into.