Common use of Cape Town Clause in Contracts

Cape Town. The Security Agreement is intended to, and does, constitute an “agreement” (as defined in the Cape Town Treaty). At the time of the execution of the Security Agreement, the Borrower is “situated,” for purposes of the Cape Town Treaty, in a “Contracting State” (as defined in the Cape Town Treaty), and has the power to “dispose” of the Airframe and each Engine in accordance with the terms of the Security Agreement. The Airframe and the Engines constitute “aircraft objects” (as defined in the Cape Town Treaty) and have been accurately described in the Security Agreement by manufacturer’s name, model designation and manufacturer’s serial number.

Cape Town. The Security Agreement is intended toto be, and doesdoes constitute, constitute an “agreement” (as defined in the Cape Town TreatyLaw). At the time of the execution of the Security Agreement, the Borrower is “situated,” for purposes of the Cape Town Treaty, in a “Contracting State” Cayman Entity (as defined in the Cape Town Treaty)Law) which has made an election in writing pursuant to clause 3(2) of the Cape Town Law that the Cape Town Law shall apply to it generally, and has the power to “dispose” of the Airframe and each Engine in accordance with the terms of the Security Agreement. The Airframe and the Engines constitute “aircraft objects” (as defined in the Cape Town TreatyLaw) and have been accurately described in the Security Agreement by manufacturer’s name, model designation and manufacturer’s serial number.