Alterations, Modifications and Additions. The Owner shall, or shall cause a Permitted Lessee to, make (or cause to be made) alterations and modifications in and additions to the Aircraft, Airframe and each Engine as may be required to be made from time to time to meet the applicable standards of the FAA or other Aviation Authority having jurisdiction over the operation of the Aircraft, to the extent made mandatory in respect of the Aircraft (a “Mandatory Modification”); except for (i) immaterial and non-recurring violations with respect to which corrective measures are being taken promptly by Owner or a Permitted Lessee and (ii) any law, rule, regulation or order the validity or application of which is being contested in good faith by the Owner or any Permitted Lessee in any reasonable manner which does not materially adversely affect the Indenture Trustee’s interest in the Aircraft, does not impair the Indenture Trustee’s security interest or International Interest in the Aircraft and does not involve any material risk of sale, forfeiture or loss of the Aircraft or the interest of the Indenture Trustee therein or any material risk of material civil penalty or any material risk of criminal liability being imposed on the Indenture Trustee or the holder of any Equipment Note. In addition, the Owner, at its own expense, may, or may permit a Permitted Lessee at its own cost and expense to, from time to time make or cause to be made such alterations and modifications in and additions to the Airframe or any Engine (each an “Optional Modification”) as the Owner or such Permitted Lessee may deem desirable in the proper conduct of its business including, without limitation, removal of Parts which the Owner deems are obsolete or no longer suitable or appropriate for use in the Aircraft, Airframe or such Engine; provided, however, that no such Optional Modification shall (i) materially diminish the fair market value, utility, or useful life of the Aircraft or any Engine below its fair market value, utility or useful life immediately prior to such Optional Modification (assuming the Aircraft or such Engine was in the condition required by this Trust Indenture immediately prior to such Optional Modification) or (ii) cause the Aircraft to cease to have the applicable standard certificate of airworthiness except that such certificate of airworthiness temporarily may be replaced by an experimental certificate during the process of implementing and testing such Optional Modification and securing related FAA re-cer...
Alterations, Modifications and Additions. Lessee, at its own expense, shall make such alterations and modifications in and additions to the Airframe or any Engine or Propeller as may be required to be made from time to time during the Term by Applicable Law regardless upon whom such requirements are, by their terms, nominally imposed. Title to all Parts incorporated on, installed in or attached or added to the Airframe or any Engine or Propeller as the result of any alteration, modification or addition required by the preceding sentence shall vest without further act in Lessor and become subject to the Mortgage and this Lease and the Lien of the Financiers. In addition, Lessee, at its own expense, may from time to time make or cause to be made such alterations and modifications in and additions to the Airframe, any Engine or any Propeller as Lessee may deem desirable in the proper conduct of its business, (any such additions for purposes of this Section 8(d) called "Additional Parts") including, without limitation, removal of Parts (for purposes of this Section 8(d) called "Obsolete Parts"); provided that no such alteration, modification, addition or removal shall materially diminish the value or utility of the Airframe, such Engine or such Propeller, or impair the condition or airworthiness thereof immediately prior to such alteration, modification, addition or removal assuming the Airframe, such Engine or such Propeller was then of the value and utility and in the condition and airworthiness required to be maintained by the terms of this Lease. Notwithstanding anything to the contrary, Lessee may, at any time during the Term, remove any Additional Part; provided that (i) such Additional Part is in addition to, and not in replacement of or substitution for, any Part originally incorporated or installed in or attached to the Airframe, such Engine or such Propeller at the time of delivery thereof hereunder or any part in replacement of, or substitution for, any such Part, (ii) such Additional Part is not required to be incorporated or installed in or attached or added to such Airframe, Engine or Propeller pursuant to the first sentence of this Section 8(d) and (iii) such Additional Part can be removed from the Airframe, such Engine or such Propeller without materially diminishing or impairing the value, utility, condition or airworthiness required to be maintained by the terms of this Lease which the Airframe, such Engine or such Propeller would have had at such time had such addition not occurred....
Alterations, Modifications and Additions. The Owner, at its own expense, will make (or cause to be made) such alterations and modifications in and additions to the Airframe and Engines as may be required from time to time to meet the applicable standards of the FAA or any other governmental authority having jurisdiction; provided, however, that the Owner (or, if a Lease is then in effect, any Lessee) may, in good faith, contest the validity or application of any such law, rule, regulation or order in any reasonable manner which does not adversely affect the Indenture Trustee. In addition, the Owner (or any Lessee), at its own expense, may from time to time add further parts or accessories and make such alterations and modifications in and additions to the Airframe or any Engine as the Owner (or any Lessee) may deem desirable in the proper conduct of its business, including, without limitation, removal of Parts which the Owner (or any Lessee) has determined in its reasonable judgment to be obsolete or no longer suitable or appropriate for use on the Airframe or such Engine (such parts, "Obsolete Parts"); provided that no such alteration, modification or addition shall materially diminish the value, utility or remaining useful life of the Airframe or such Engine below the value, utility or remaining useful life thereof immediately prior to such alteration, modification or addition, assuming the Airframe or such Engine was then in the condition required to be maintained by the terms of this Trust Indenture, except that the value (but not the utility or remaining useful life) of the Airframe or any Engine may be reduced by the value of Obsolete Parts which shall have been removed so long as the aggregate value of all Obsolete Parts which shall have been removed and not replaced shall not exceed [$400,000 for A319's] [$500,000 for 757's]. All Parts incorporated or installed in or attached or added to the Airframe or an Engine as the result of such alteration, modification or addition (the "Additional Parts") shall, without further act, become subject to the Lien of this Trust Indenture. Notwithstanding the foregoing sentence, the Owner (or any Lessee) may remove or suffer to be removed any Additional Part, provided that such Additional Part (i) is in addition to, and not in replacement of or substitution for, any Part originally incorporated or installed in or attached to the Airframe or any Engine on the Closing Date or any Part in replacement of, or substitution for, any such Part, (ii) is not requir...
Alterations, Modifications and Additions. Provider will make such alterations and modifications in and additions to Covered Projects as may be required from time to time to comply with Applicable Law, Prudent Industry Standards and the terms of the applicable Customer Agreements; provided, however, that Provider may, in good faith, contest the validity or application of any such Applicable Law in any reasonable manner, but diligently and in good faith, and only if there is no material risk of the loss or forfeiture of a Covered Project or any interest therein or breach of the related Customer Agreement; and provided further, that Provider’s failure to make (or cause to be made) any such alterations, modifications or additions will not constitute noncompliance with the requirements of this paragraph 3 or a breach of Provider’s undertaking hereunder for so long a period as may be necessary to remedy such failure, if such failure can be remedied, so long as during such period Provider is using due diligence and best efforts to remedy such failure.
Alterations, Modifications and Additions. At their sole expense, make ---------------------------------------- such alterations and modifications in and additions to the Equipment as may be required from time to time by any relevant Governmental Authority or as may be deemed necessary from time to time by the Borrowers, whether upon the recommendation of any manufacturer or otherwise, for the purpose of the safe operation of the Equipment (any such alteration, modification or addition as may be so required or so deemed necessary being herein called a "Required -------- Modification"). In addition, the Borrowers, at their sole expense, may from time ------------ to time make such other alterations and modifications in and additions to the Equipment as the Borrowers may deem desirable in the proper conduct of their business (any such alteration, modification or addition as may be so deemed desirable being herein called an "Optional Modification"); provided, however, that (i) any Required --------------------- -------- ------- Modification shall be expeditiously completed in a good and workmanlike manner, in compliance with all legal requirements applicable thereto, and (ii) no Optional Modification shall diminish the value or utility of any item of Equipment or impair the operating condition thereof below the value, utility and operating condition thereof immediately prior to such Optional Modification, assuming that such item of Equipment was then of the value or utility and in the operating condition required to be maintained by the terms of this Agreement. All parts incorporated or installed in or attached to any item of Equipment composing Collateral as a result of any alteration, modification or addition which are not readily removable without damage to such item of Equipment shall, without necessity of further act, become part of such item of Equipment for all purposes hereof and subject to the security interest granted herein; however, this sentence shall not be construed to impair or affect Marad's rights, duties and privileges with respect to FGO or Parent under the Marad Financing Documents, and the Borrowers covenant and agree not to incorporate or install in or attach any item of Marad Collateral to any item of Equipment composing Collateral.
Alterations, Modifications and Additions. Mortgagor, at its own cost and expense, shall make such alterations and modifications in and additions to the Aircraft and Engines as may be required from time to time to meet all applicable standards of the Federal Aviation Administration or other governmental authority having jurisdiction over the Aircraft and Engines. So long as no Event of Default shall have occurred and be continuing, Mortgagor, at its own cost and expense, and from time to time, may make such alterations and modifications in, and additions to, the Aircraft and any Engine as Mortgagor may deem desirable in the proper conduct of its business; provided, that no such alteration, modification or addition shall diminish the value or utility of the Aircraft or such Engine, or impair the condition or airworthiness thereof, below the value, utility, condition or airworthiness thereof immediately prior to such alteration, modification or addition assuming the Aircraft or such Engine were measured by the value, utility and airworthiness, and in the condition and state of repair required to be maintained by the terms hereof. All Parts incorporated or installed in or attached to or added to the mortgaged Aircraft or any mortgaged Engine as the result of any alteration, modification or addition shall conform to the requirements of Paragraph 3.2(a) hereof and, without further act or deed, shall become subject to the lien of this Mortgage and the international interest in favor of Collateral Agent. So long as no Event of Default shall have occurred and be continuing, Mortgagor, at any time, may remove any Part from the Aircraft or Engines if:
Alterations, Modifications and Additions. Except as provided in this Clause 8 and in Clause 6.6, Lessee shall not make any alteration, modification or addition to the Airframe or any of the Engines except such alterations, modifications or additions the cost (including labor costs of installation) of which is less than $50,000 and which can be removed from the Aircraft without diminishing or impairing the value of the Aircraft.
Alterations, Modifications and Additions. Except as otherwise required by SECTION 11.1 or by this SECTION 11.6, 21 Sublessee shall not make any alterations, modifications or, additions to the Aircraft without the prior written consent of Sublessor which approval shall not be unreasonably withheld or delayed, PROVIDED, HOWEVER Sublessee shall make, or shall cause to be made, at no expense to Sublessor or Lessor, such alterations and modifications in and additions to the Aircraft as may be required from time to time by the FAA or other Governmental Body having jurisdiction or as may be required by Applicable Law as a condition to the use of the Aircraft in ordinary commercial passenger service, and FURTHER, PROVIDED, Sublessee may, at its own expense and subject to compliance with the requirements of Revenue Procedure 79-48, 1979-2 C.B. 529 from time to time make such alterations, modifications or additions to the Aircraft as Sublessee may deem desirable in the proper conduct of its business, so long as such alteration, modification or addition does not diminish the value, utility or remaining useful life of such item, or impair the condition and airworthiness thereof, below the value, utility, remaining useful life, condition and airworthiness thereof immediately prior to such alteration, modification or addition based upon the assumption that such item was then of the value and utility and in the condition and airworthiness required to be maintained by the terms of this Sublease; but if the cost of such alteration, modification or improvement exceeds $75,000 and is not required by this SECTION 11 and is neither safety-related nor, severable as defined in SECTION 4(4). 02 of Revenue Procedure 75-21, as modified by Revenue Procedure 79-48; and is not described in subparagraph (ii) of SECTION 4(4).03 (c) of Revenue Procedure 75-21, 1975-1 C.B. 715 as modified by Revenue Procedure 79-48, such alteration, modification or addition shall not be made without the prior written consent of Sublessor which shall not be given without receipt by Sublessor of written consent of Lessor and Lender, and otherwise in compliance with the requirements of SECTION 4(4).03(c) of Revenue Procedure 75-21, as modified by Revenue Procedure 79-48. Sublessor may condition such consent on the agreement by Sublessee at its sole expense to remove such alterations, modifications or additions and to restore the Aircraft to its original condition upon the expiration or termination of this Sublease. Title to all Parts incorporated in...
Alterations, Modifications and Additions. The Borrower will make (or cause to be made) such alterations, ---------------------------------------- modifications and additions to the Airframes and Engines as may be required to meet the applicable standards of the FAA, subject to clauses (2)(a)(i) and (ii) of Section 3.01. In addition, the Borrower may from time to time make such alterations and modifications in and additions to any Airframe or any Engine as the Borrower may deem desirable in the proper conduct of its business, including removal of Parts which the Borrower deems to be obsolete or no longer suitable or appropriate for use on such Airframe or such Engine; provided that no such alteration, modification, removal or addition impairs the condition or airworthiness of such Airframe or such Engine, or diminishes the value, utility and remaining useful life of such Airframe or such Engine below the value, utility or remaining useful life thereof immediately prior to such alteration, modification, removal or addition, assuming that such Airframe or such Engine is in the condition required hereunder. All parts incorporated or installed in or attached or added to an Airframe or an Engine as the result of such alteration, modification or addition (except those parts which the Borrower has leased from others and Parts which may be removed by the Borrower pursuant to the next sentence) (the "Additional Part" or "Additional Parts") shall, --------------- ---------------- without further act, become subject to the Lien of this Mortgage. Notwithstanding the foregoing, the Borrower may remove any Additional Part, provided that such Additional Part (i) is in addition to, and not in replacement of or substitution for, any Part originally incorporated or installed in or attached to any Airframe or any Engine at the time of delivery thereof hereunder or any Part in replacement of or substitution for any such Part, (ii) is not required to be incorporated or installed in or attached or added to any Airframe or any Engine pursuant to the terms of Article III hereof or the first sentence of this Section 4.03, and (iii) can be removed from such Airframe or such Engine without impairing the airworthiness of such Airframe or such Engine or diminishing the value, utility and remaining useful life of such Airframe or such Engine which such Airframe or such Engine would have had at such time had such alteration, modification or addition not occurred. Upon the removal thereof as provided above, such Additional Parts ...
Alterations, Modifications and Additions. Lessee shall make such alterations and modifications and additions to the Aircraft as may be required from time to time to meet the applicable standards of the FAA or to comply with any Law, rule, directive, bulletin, regulation or order of any Governmental Entity or of the manufacturer of the Aircraft, Engines or Parts. Lessee may from time to time make alterations and modifications in and additions to the Aircraft, provided no such alteration, modification or addition diminishes the remaining warranty, value or utility, or impairs the condition or airworthiness, of the Aircraft. Title to all Parts incorporated or installed in or attached or added to the Aircraft as the result of such alteration, modification or addition shall vest immediately in Lessor and become subject to this Lease, without the necessity for any further act of transfer, document or notice.
