Replacement APU definition
Examples of Replacement APU in a sentence
In the case of any replacement of an Engine or the APU pursuant to Section 8.11(b), and otherwise if so requested by Lessor, Lessee will provide a properly executed ▇▇▇▇ of sale or similar instrument to evidence the vesting of good and marketable title, free and clear of Security Interest (except Lessor Liens), to any such Replacement Engine, Replacement APU or other equipment in Owner and all documents required under the Financing Documents.
In the case of any replacement of an Engine or the APU pursuant to Section 8.11 (b), and otherwise if so requested by Lessor, Lessee will provide a properly executed ▇▇▇▇ of sale or similar instrument to evidence the vesting of good and marketable title, free and clear of Security Interest (except Lessor Liens), to any such Replacement Engine, Replacement APU or other equipment in Owner and all documents required under the Financing Documents.
Such Replacement APU shall, upon acquisition by Lessor, be the APU as defined herein.
Contemporaneously with the transfer of such Replacement APU to Lessor, Lessor shall pay to Lessee or its designee the net amount of any insurance proceeds received by Lessor in respect of the destroyed APU under the insurances required to be maintained in respect of such destroyed APU by Lessee under this Agreement.