Common use of Filings and Registrations Clause in Contracts

Filings and Registrations. In order not to be void against the liquidator and any creditor of the Borrower, each of the Security Documents should be delivered to the Registrar (together with the prescribed particulars) within one month of the date of its creation (pursuant to Section 138 of the Act); save for such delivery, it is not necessary or advisable under the laws of the Isle of Man, in order to ensure the validity, effectiveness and enforceability of the Documents, that the same be filed, registered or recorded in any public office in the Isle of Man or that any other action be taken.