Common use of SURRENDERS Clause in Contracts

SURRENDERS. If an FAA TSO Authorization holder, FAA Letter of Design Approval holder, or a ETSO Authorization holder elects to surrender the TSO/ETSO approval issued by the FAA or EASA, the FAA or EASA shall immediately notify the other in writing of the action. The exporting authority shall inform the importing authority when an unsafe condition has been identified, until such time as the TSO/ETSO approval is formally withdrawn by the exporting authority.