Common use of Cape Town Clause in Contracts

Cape Town. The Security Agreement is intended to be and does constitute, an “agreement” (as defined in the Cape Town Law). At the time of the execution of the Security Agreement, the Borrower is a Cayman Entity (as defined in the Cape Town 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 Law) 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 to be be, and does constitute, an “agreement” (as defined in the Cape Town Law). At the time of the execution of the Security Agreement, the Borrower is a Cayman Entity (as defined in the Cape Town 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 Law) and have been accurately described in the Security Agreement by manufacturer’s name, model designation and manufacturer’s serial number.