Common use of Security and Publicity Formalities Clause in Contracts

Security and Publicity Formalities. (i) If the case, the Bank shall have received satisfactory evidence to the Bank that the Security specified under the Financing Documents have been duly created, and all publicity formalities necessary for perfecting the Security have been duly fulfilled (ii) In particular, for immovable mortgages, the fulfilment of publicity formalities will be certified by the receipt by the Bank of satisfactory evidence thereon on the submission to the competent Cadastre and Immovable Publicity Office of the request for the registration of the immovable mortgage agreement with the land book, within a term of no more than 10 (ten) days as of the issuance of the land book excerpt for the authentication of such immovable mortgage agreement.