Common use of Substitute Aircraft Clause in Contracts

Substitute Aircraft. If the Funding Date for any New Delivery Aircraft is delayed more than 30 days beyond the last day of the month set forth opposite such New Delivery Aircraft under the heading “Scheduled Delivery Month” in Schedule I hereto, the Company may substitute therefor an aircraft not included in the New Delivery Aircraft, but meeting the following conditions (each, a “Substitute Aircraft” and, collectively, the “Substitute Aircraft”): (i) a Substitute Aircraft must be of the same model as the New Delivery Aircraft being replaced and (ii) the Company shall obtain a Rating Agency Confirmation with respect to each Class of Certificates then rated by the Rating Agencies in connection with the replacement of any New Delivery Aircraft by a Substitute Aircraft. Upon the satisfaction of the conditions set forth above with respect to a Substitute Aircraft, the New Delivery Aircraft it replaced shall cease to be subject to this Note Purchase Agreement and all rights and obligations of the parties hereto concerning such New Delivery Aircraft shall cease, and such Substitute Aircraft shall become, and thereafter be, subject to the terms and conditions of this Note Purchase Agreement to the same extent as such New Delivery Aircraft.

Substitute Aircraft. If the Funding Date for any New Delivery Aircraft is delayed more than 30 days beyond the last day of the month set forth opposite such New Delivery Aircraft under the heading “Scheduled Delivery Month” in Schedule I hereto, the Company Lessee may substitute therefor an aircraft not included in the New Delivery Aircraft, but meeting the following conditions (each, a “Substitute Aircraft” and, collectively, the “Substitute Aircraft”): (i) a Substitute Aircraft must be of the same model as the New Delivery Aircraft being replaced and (ii) the Company Lessee shall obtain a Rating Agency Confirmation with respect to each Class of Certificates then rated by the Rating Agencies in connection with the replacement of any New Delivery Aircraft by a Substitute Aircraft. Upon the satisfaction of the conditions set forth above with respect to a Substitute Aircraft, the New Delivery Aircraft it replaced shall cease to be subject to this Note Purchase Agreement and all rights and obligations of the parties hereto concerning such New Delivery Aircraft shall cease, and such Substitute Aircraft shall become, and thereafter be, subject to the terms and conditions of this Note Purchase Agreement to the same extent as such New Delivery Aircraft.

Substitute Aircraft. If the Funding Date for any New Delivery Aircraft is delayed more than 30 days beyond the last day of the month set forth opposite such New Delivery Aircraft under the heading “Scheduled Delivery Month” in Schedule I hereto, the Company may substitute therefor an aircraft not included in the New Delivery Aircraft, but meeting the following conditions (each, a “Substitute Aircraft” and, collectively, the “Substitute Aircraft”): (i) a Substitute Aircraft must be of the same model as the New Delivery Aircraft being replaced and (ii) the Company shall obtain a Rating Agency Confirmation with respect to each Class of Certificates then rated by the Rating Agencies in connection with the replacement of any New Delivery Aircraft by a Substitute Aircraft. Upon the satisfaction of the conditions set forth above with respect to American Airlines 2017-1 Aircraft EETC a Substitute Aircraft, the New Delivery Aircraft it replaced shall cease to be subject to this Note Purchase Agreement and all rights and obligations of the parties hereto concerning such New Delivery Aircraft shall cease, and such Substitute Aircraft shall become, and thereafter be, subject to the terms and conditions of this Note Purchase Agreement to the same extent as such New Delivery Aircraft.