Common use of Substitute Security Clause in Contracts

Substitute Security. (a) To secure the prompt payment of the principal amount of and interest on, and all other amounts due with respect to, all Securities from time to time outstanding under the Indenture and the performance and observance by the Company of all the agreements, covenants and provisions contained in the Indenture for the benefit and security of the Holders under the Indenture and the prompt payment of any and all amounts from time to time owing under the Indenture by the Company to the Trustee, the Company does hereby grant, sell, assign, transfer, convey, pledge and confirm unto the Trustee, its successors and assigns, for the benefit and security of the Holders and the Trustee, a first priority security interest in all estate, right, title and interest of the Company in and to the Replacement Aircraft together with all equipment and accessories, parts and appurtenances pertaining or attached to the Replacement Aircraft, whether now owned or hereafter acquired, and all warranties of any manufacturer with respect thereto. (b) As evidence of the releasing of all right, title and interest of the Trustee in, to and under the Released Aircraft and Released Engines, the Trustee shall execute a separate Partial Release and any other document reasonably requested by the Company to evidence such release. (c) The Company hereby acknowledges that the Replacement Aircraft referred to in this Supplemental Indenture is owned by and has been delivered to the Company and is included in the property of the Company subject to the pledge and mortgage thereof under the Indenture.

Substitute Security. (a) To secure the prompt payment of the principal amount of and interest on, and all other amounts due with respect to, all Securities from time to time outstanding under the Indenture and the performance and observance by the Company of all the agreements, covenants and provisions contained in the Indenture for the benefit and security of the Holders under the Indenture and the prompt payment of any and all amounts from time to time owing under the Indenture by the Company to the Trustee, the Company does hereby grant, sell, assign, transfer, convey, pledge and confirm unto the Trustee, its successors and assigns, for the benefit and security of the Holders and the Trustee, a first priority security interest in all estate, right, title and interest of the Company in and to the Replacement Aircraft and Replacement Engines (each such Replacement Engine having 750 or more rated takeoff horsepower or the equivalent thereof) together with all equipment and accessories, parts and appurtenances pertaining or attached to the Replacement AircraftAircraft and Replacement Engines, whether now owned or hereafter acquiredacquired and all substitutions, modifications, improvements, accessions and accumulations to the Replacement Aircraft and Replacement Engines, and all warranties of any manufacturer with respect thereto. (b) As evidence of the releasing of The Trustee hereby releases all right, title title, and interest of the Trustee in, to and under the Released Aircraft and Released Engines, the Trustee shall execute a separate Partial Release and any other document reasonably requested by the Company to evidence such release. (c) The Company hereby acknowledges that the Replacement Aircraft and Replacement Engines referred to in this Supplemental Indenture is owned by and has been delivered to the Company and is included in the property of the Company subject to the pledge and mortgage thereof under the Indenture.

Substitute Security. (a) To secure the prompt payment of the principal amount of and interest on, and all other amounts due with respect to, all Securities from time to time outstanding under the Indenture and the performance and observance by the Company of all the agreements, covenants and provisions contained in the Indenture for the benefit and security of the Holders under the Indenture and the prompt payment of any and all amounts from time to time owing under the Indenture by the Company to the Trustee, the Company does hereby effective as of July 23, 1998, grant, sell, assign, transfer, convey, pledge and confirm unto the Trustee, its successors and assigns, for the benefit and security of the Holders and the Trustee, a first priority security interest in all estate, right, title and interest of the Company in and to the Replacement Aircraft and Replacement Engines (each such engine having 750 or more rated takeoff horsepower or the equivalent thereof) together with all equipment and accessories, parts and appurtenances pertaining or attached to the Replacement Aircraft, Aircraft and Replacement Engines whether now owned or hereafter acquiredacquired and all substitutions, modifications, improvements, accessions and accumulations to the New Engine and all warranties of any manufacturer with respect thereto. (b) As evidence of the releasing of all right, title and interest of the Trustee in, to and under the Released Aircraft and Released Engines, the Trustee shall execute effective as of July 23, 1998, a separate Partial Release and any other document reasonably requested by the Company to evidence such release. (c) The Company hereby acknowledges that the Replacement Aircraft and Replacement Engines referred to in this Supplemental Indenture is are owned by and has have been delivered to the Company and is are included in the property of the Company subject to the pledge and mortgage thereof under the Indenture.