Title to Removed Modification Part Clause Samples
The "Title to Removed Modification Part" clause establishes who holds ownership of any parts or components that are removed or replaced during a modification process. Typically, this clause clarifies whether the removed parts become the property of the service provider, the customer, or must be disposed of in a specific manner. For example, if an old engine part is replaced during repair, the clause will specify if the customer retains the old part or if the repair shop can keep or discard it. This ensures clear understanding and prevents disputes over ownership or responsibility for removed items.
Title to Removed Modification Part. Upon the removal by Lessee of any Modification Part as provided in Sections 2.4.3 and 2.4.4, title thereto shall, without further act, vest in Lessee free and clear of Lessor and all Lessor Liens, and such Modification Part shall no longer be deemed a Part of the Airframe or Engine from which it was removed. Any Modification Part not removed by Lessee as above provided prior to the return of the Airframe or Engine to Lessor hereunder shall remain the property of Lessor.
Title to Removed Modification Part. Upon the removal by Lessee of any Modification Part and reversal of the related Modification as provided in Sections 1.3.3 or 1.3.4 of this Schedule 2, title in such Modification Part shall, without further act, vest in Lessee free and clear of all rights of Owner and Lessor and all Lessor Liens, and such Modification Part shall no longer be deemed a Part of the Airframe or Engine from which it was removed. Any Modification Part not removed by Lessee as above provided prior to the return of the Airframe or Engine to Lessor hereunder shall remain the property of Owner.
