Replacement Airframes, Replacement Engines and Replacement Parts Clause Samples

Replacement Airframes, Replacement Engines and Replacement Parts. (a) If at any time and from time to time, the Airframe or Engine(s) may, or may be required to, be replaced under Section 6(a), 11(a), 11(b) or 16(c) of the Lease by a Replacement Airframe or Replacement Engine(s), as the case may be, in accordance with the provisions of this Section 5.06 and the provisions of said Sections of the Lease, the Owner Trustee shall, at such time or times, but subject to compliance with the conditions to such replacement set forth in the Lease, direct the Indenture Trustee to execute and deliver to or as directed in writing by the Owner Trustee an appropriate instrument releasing such Airframe and/or Engine(s) as appropriate from the Lien of this Indenture and the Indenture Trustee shall execute and deliver such instrument as aforesaid, but only upon receipt by or deposit with the Indenture Trustee of the following: (1) A written request from the Owner Trustee, requesting such release and specifically describing the Airframe and/or Engine(s) so to be released and the Replacement Airframe and/or Replacement Engine(s). (2) A certificate signed by a duly authorized officer of the Lessee stating the following: A. With respect to the replacement of any Airframe: (i) a description of the Airframe which shall be identified by manufacturer, model, FAA registration number (or other applicable registration number) and manufacturer's serial number; (ii) a description of the Replacement Airframe (including the manufacturer, model, FAA registration number (or other applicable registration number) and manufacturer's serial number) to be received as consideration for the Airframe to be released; (iii) that on the date of the Indenture Supplement relating to the Replacement Airframe the Owner Trustee will hold legal title to such Replacement Airframe free and clear of all Liens except Permitted Liens, that such Replacement Airframe will on such date be in good operating condition, and that such Replacement Airframe has been or, substantially concurrently with such replacement, is in the process of being duly registered with the Owner Trustee as owner thereof under the Federal Aviation Act or under the law then applicable to the registration of the Aircraft and that an airworthiness certificate has been duly issued under the Federal Aviation Act (or such other applicable law) with respect to such Replacement Airframe, and that such Trust Indenture 71 - 66 - registration and certificate is in full force and effect, and the Lessee or a Permitted ...
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