Component Pool Sample Clauses
The Component Pool clause defines a set of pre-approved components or resources that may be used within a project or agreement. It typically outlines which items are included in the pool, the criteria for their selection, and the process for adding or removing components. This clause ensures that all parties have a clear understanding of the available options, streamlining decision-making and reducing disputes over what can be utilized during the course of the project.
Component Pool. LHT shall grant Volaris access to serviceable Pool Components available in the Component Pool in order to replace Volaris’ unserviceable Components by serviceable Components on a 1:1 forward exchange basis. Volaris may request during the term of this Agreement Pool Components in order to: • replace unserviceable Pool Components from the Pool Aircraft during a line maintenance or heavy maintenance. • replace Pool Components in the Aircraft due to Modifications, layovers or hard times. • replace Pool Components on attrition due to upgrades, retrofits, service bulletins, airworthiness directives or reliability improvements. • Replace Pool Components in the Aircraft due to Soft Times. • replace Pool Components in the Home Base Stock that have to be replaced due to a change in Modification standard or the expiry of storage limits (“Home Base Stock Replacement”). • replenish the quantity of Pool Components in the Home Base Stock to the Agreed HBS Level (“Home Base Stock Replenishment”). Such replenishment may be refused if: • — Volaris loaned a Pool Component to a third party (Article 3.1.7), • — Volaris exchanged a Pool Component with a third party and received in exchange a Pool Component that is in need of repair or Modification before it can be used by Volaris (Article 3.1.7).