No Legal Title to Collateral. No Secured Creditor shall have legal title to any part of the Collateral. No transfer, by operation of law or otherwise, of any right, title and interest of a Secured Creditor in and to the Collateral or this Mortgage shall operate to terminate this Mortgage or entitle any successor or transferee of such Secured Creditor to an accounting or to the transfer to it of legal title to any part of the Collateral.
Appears in 3 contracts
Samples: Aircraft Mortgage and Security Agreement (Northwest Airlines Corp), Aircraft Mortgage and Security Agreement (Northwest Airlines Corp), Credit and Guarantee Agreement (Northwest Airlines Corp)
No Legal Title to Collateral. No Secured Creditor Bank or the Collateral Agent shall have legal title to any part of the Collateral. No transfer, by operation of law or otherwise, of any portion of the Obligations or other right, title and interest of a Secured Creditor Collateral Agent or Bank in and to the Collateral or this Mortgage shall operate to terminate this Mortgage or entitle any successor or transferee of Collateral Agent or such Secured Creditor Bank to an accounting or to the transfer to it of legal title to any part of the Collateral.
Appears in 2 contracts
Samples: Credit Agreement (Southwest Airlines Co), Revolving Credit Facility Agreement (Southwest Airlines Co)
