Common use of Annual Compliance Opinions Clause in Contracts

Annual Compliance Opinions. Lessee will furnish to Owner Trustee and Indenture Trustee annually after the execution hereof (but not later than December 1 of each year), commencing with the year 1996, opinions of counsel for Lessee selected by Lessee and reasonably satisfactory to Owner Trustee and Indenture Trustee stating that, in the opinion of such counsel, either (a) such action has been taken (or specifying any action which must be taken) with respect to the recording, filing, rerecording and refiling of (i) the appropriate Operative Agreements and any supplements and amendments thereto, (ii) UCC financing statements, and (iii) such other filings or recordings as are necessary to maintain for the 15-month period succeeding the date of such opinion the perfection of Owner Trustee's and Indenture Trustee's title to and interest in the Aircraft and the Operative Agreements and the ownership interest of Owner Trustee in the Aircraft, reciting the details of such actions, or (b) no such action is necessary to maintain for the 15-month period succeeding the date of such opinion the perfection of such title and interest.

Annual Compliance Opinions. Lessee will furnish to Owner Trustee and Indenture Trustee annually after the execution hereof (but not later than December 1 of each year), commencing with the year 19961997, opinions of counsel for Lessee selected by Lessee and reasonably satisfactory to Owner Trustee and Indenture Trustee stating that, in the opinion of such counsel, either (a) such action has been taken (or specifying any action which must be taken) with respect to the recording, filing, rerecording and refiling of (i) the appropriate Operative Agreements and any supplements and amendments thereto, (ii) UCC financing statements, and (iii) such other filings or recordings as are necessary to maintain for the 15-month period succeeding the date of such opinion the perfection of Owner Trustee's and Indenture Trustee's title to and interest in the Aircraft and the Operative Agreements and the ownership interest of Owner Trustee in the Aircraft, reciting the details of such actions, or (b) no such action is necessary to maintain for the 15-month period succeeding the date of such opinion the perfection of such title and interest.