Common use of INTERCHANGE AND POOLING Clause in Contracts

INTERCHANGE AND POOLING. Subject or permit any Permitted Sublessee to subject (a) the Airframe to normal interchange agreements (provided that (1) any such interchange agreement does not contemplate that Lessee (or a Permitted Sublessee) will be out of possession of the Airframe for more than five consecutive days at a time (absent weather, maintenance, or other exigencies), and (2) the party to such interchange agreement is a Permitted Air Carrier, not in bankruptcy, organized and having its principal place of business in a country with which the United States then maintains normal diplomatic relations and which recognizes and gives effect to the rights, title, and interests of Lessor in the Airframe), or (b) any Engine (but only if such Engine is then installed upon an aircraft) 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 in the ordinary course of business; PROVIDED, that (1) no such agreement or arrangement shall require any transfer of Lessor's title to the Airframe or such Engine, and (2) if Lessor's title to any such Engine is nevertheless divested under any such agreement or arrangement, then such Engine shall be deemed to have suffered an Event of Loss as of the date of such divestiture, and Lessee shall be required to replace such Engine with a Replacement Engine meeting the requirements of, and in accordance with, ss. 10.