Common use of State of Registration Clause in Contracts

State of Registration. Borrower shall at all times cause and maintain each Aircraft to be duly registered with (i) the FAA or (ii) the Aviation Authority in a State of Registration that is a Contracting State other than the United States (each such State of Registration, together with Papua New Guinea, the Philippines, and Trinidad and Tobago, a “Permitted Foreign Jurisdiction”); provided that (i) on the Closing Date all Aircraft will be duly registered with the FAA, (ii) all Aircraft Collateral that is used and/or operated in connection with Healthcare Services shall at all times be registered with the FAA, and (iii) Domestic Aircraft Collateral NOLV shall not be less than $150,000,000; provided further that, unless agreed to by Agent in its Permitted Discretion, Borrower shall not cause or permit any Aircraft to be deregistered with the FAA (i) at any time that Domestic Aircraft Collateral NOLV is less than $150,000,000, or (ii) if at any time Domestic Aircraft Collateral NOLV shall be less than $150,000,000 upon deregistration of any such Aircraft with the FAA.

State of Registration. Borrower shall at all times cause and maintain each Aircraft constituting Aircraft Collateral to be duly registered with (i) the FAA or (ii) the Aviation Authority in a State of Registration that is a Contracting State other than the United States (each such State of Registration, together with Papua New Guinea, the Philippines, and Trinidad and Tobago, Ghana, New Zealand, Australia and Cyprus, a “Permitted Foreign Jurisdiction”); provided that (i) on the Closing Date all Aircraft will be duly registered with (x) the FAA, FAA or (iiy) all Aircraft Collateral that is used and/or operated in connection with Healthcare Services shall at all times be registered with the FAA, and (iii) Domestic Aircraft Collateral NOLV shall not be less than $150,000,000Aviation Authority of a Permitted Foreign Jurisdiction; provided further that, unless agreed to by Agent in its Permitted Discretion, Borrower shall not cause or permit any Aircraft constituting Aircraft Collateral to be deregistered with the FAA or the Aviation Authority of any Permitted Foreign Jurisdiction (i) at any time that Domestic Aircraft Collateral NOLV is less than $150,000,00075,000,000, or (ii) if at any time Domestic Aircraft Collateral NOLV shall be less than $150,000,000 75,000,000 upon deregistration of any such Aircraft with the FAAFAA or Permitted Foreign Jurisdiction.