Common use of Federal Bankruptcy Code Clause in Contracts

Federal Bankruptcy Code. In the event Section 1110 of Title 11 of the United States Code is amended, or if it is repealed and another statute is enacted in lieu thereof, Lessor and Lessee agree to amend this Lease and take such other action not inconsistent with this Lease as Lessor reasonably deems necessary so as to afford to Lessor the rights and benefits as such amended or substituted statute confers upon owners and lessors of aircraft similarly situated to Lessor.

Federal Bankruptcy Code. In the event Section 1110 of Title 11 of the United States Code is amended, or if it is repealed and another statute is enacted in lieu thereof, Lessor and Lessee agree to amend this Lease and take such other action not inconsistent with this Lease as Lessor reasonably deems necessary so as to afford to Lessor the rights and benefits as such amended or substituted statute confers upon owners and lessors of aircraft engines similarly situated to Lessor.

Federal Bankruptcy Code. In the event Section 1110 of Title 11 of the United States Code is amended, or if it is repealed and another statute is enacted in lieu thereof, Lessor and Lessee agree to amend this Lease -108- 114 and take such other action not inconsistent with this Lease as Lessor reasonably deems necessary so as to afford to Lessor the rights and benefits as such amended or substituted statute confers upon owners and lessors of aircraft similarly situated to Lessor.

Federal Bankruptcy Code. In the event Section 1110 of Title 11 of the United States Code is amended, or if it is repealed and another statute is enacted in lieu thereof, Lessor and Lessee agree to amend this Lease and take such other action not inconsistent with this Lease as Lessor reasonably deems necessary so as to afford to Lessor the rights and benefits as such amended or 113 substituted statute confers upon owners and lessors of aircraft similarly situated to Lessor.