Engine Maintenance Accounts Sample Clauses

Engine Maintenance Accounts. Each of the Company's Engine Maintenance Contractors will establish and maintain record-keeping book-entry accounts (the "Accounts", which will be for record-keeping purposes only, and will not hold actual funds) for each of the Engines assigned to such Contractor. The Accounts will record the monthly payments for each Engine received by such Contractor from the Company pursuant to the Company's Engine Maintenance Contract with such Contractor, together with the cumulative balance for each Engine, net of any amounts previously applied to payment for such Engine's over-hauls completed or then in-progress.