Common use of Placards Clause in Contracts

Placards. The Borrower shall use its best efforts to cause each lessee under a Lease relating to each Eligible Engine or item of Eligible Equipment (other than Parts Packages and turboprop engines), to affix to and maintain on the Eligible Engine or item of Eligible Equipment (other than Parts Packages and turboprop engines) subject to such Lease a placard satisfactory to the Security Agent bearing an inscription substantially in the form of “THIS ENGINE IS OWNED BY ▇▇▇▇▇▇ LEASE FINANCE CORPORATION, OR AN AFFILIATE, AND IS SUBJECT TO A FIRST PRIORITY SECURITY INTEREST IN FAVOR OF ONE OR MORE FINANCIAL INSTITUTIONS” or such other inscription as the Security Agent from time to time may reasonably request. The Borrower shall, on a quarterly basis, provide to the Security Agent a list of those Eligible Engines or items of Equipment (other than Parts Packages and turboprop engines) subject to a Lease on which no such placard is affixed.