Common use of Possession and Use Clause in Contracts

Possession and Use. 5.1 Lessee shall not transfer possession of the Aircraft, the Engines or any Part to any person or any legal entity or remove any Engine or Part from the Airframe other than in accordance with the provisions of this Article 5 or of Article 12.1; provided, however, that so long as no Default shall have occurred and be continuing, Lessee may, without the prior written consent of Lessor deliver possession of the Aircraft, the Engines or Parts to the manufacturer thereof for testing or other similar purposes, or to an Authorized Maintenance Performer for service, repair, maintenance or overhaul work on the Aircraft, the Engines or Parts, or for alterations, modifications, or additions thereto, to the extent required or permitted by the terms of Article 7.3.

Appears in 7 contracts

Samples: Aircraft Operating Lease Agreement (Midway Airlines Corp), Aircraft Operating Lease Agreement (Midway Airlines Corp), Aircraft Operating Lease Agreement (Midway Airlines Corp)

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