Examples of Removable Part in a sentence
Notwithstanding the foregoing, the Charterer shall not allow the removal of any Removable Part if (i) the same would be necessary to maintain the Vessel in class with, and with the highest classification of, the Classification Society, with no outstanding recommendations or notices, or to comply with any requirements of any Governmental Entity necessary for the Vessel’s documentation upon redelivery or retaking or (ii) the Owner shall have elected to purchase the same from the Charterer under Clause 44(d).
Upon the removal by Lessee of any such Part as provided in the preceding sentence, title thereto shall, without further act, vest in Lessee (or, if a Permitted Sublease is in effect, a Permitted Sublessee) and such Part shall no longer be deemed part of the Aircraft (such a part is herein called a "Removable Part").
Upon the removal by any applicable Grantor of any such Removable Part or Obsolete Part as above provided, (A) title thereto shall, without further act, be free and clear of all rights of the Collateral Agent and (B) such Removable Part or Obsolete Part shall no longer be deemed a Part hereunder.
Upon the removal by the Company of any such Removable Part or obsolete Part as above provided, title thereto shall, without further act, be free and clear of all rights of the Collateral Agent and such Removable Part or obsolete Part shall no longer be deemed a Part hereunder.
To the extent such Permitted Modification is not a Removable Part, or is a Required Alteration or an Original Part, and (if the Removable Part remains the property of Lessee) to the extent a Removable Part is not the property of Lessee because of the continuance of a Lease Event of Default, the same shall immediately and automatically be and become the property of Lessor and subject to the terms of this Lease.