Common use of REPLACEMENT AND POOLING OF PARTS Clause in Contracts

REPLACEMENT AND POOLING OF PARTS. Alterations, Modifications and Additions. (i) Except as otherwise provided in Section 4(e)(iv), Company, at its own cost and expense, will promptly replace all Parts, which may from time to time be incorporated or installed in or attached to the Airframe or any Engine or Spare Engine and which may from time to time become worn out, lost, stolen, destroyed, seized, confiscated, damaged beyond repair or permanently rendered unfit for use for any reason whatsoever. In addition, in the ordinary course of maintenance, service, repair or testing, Company at its own cost and expense may remove any Parts, whether or not worn out, lost, stolen, destroyed, seized, confiscated, damaged beyond repair or permanently rendered unfit for use, provided that, except as otherwise provided in Section 4(e)(iv), Company at its own cost and expense shall replace such Parts as promptly as practicable. All replacement Parts shall be owned by Company free and clear of all Liens (except Permitted Encumbrances and the Lease, and for pooling arrangements to the extent permitted by