Common use of Title; Filings and Recordings Clause in Contracts

Title; Filings and Recordings. On the Closing Date, (a) all of ----------------------------- the Owner Participant's right, title and interest in and to the Construction Contract and the Payment Guarantee Letter shall have been duly and effectively transferred to the Owner Trust pursuant to the Assignment of Construction Contract, free and clear of all Liens other than Permitted Liens, and, except as set forth in Schedule 4, all filings and recordings and other action necessary or advisable to establish the Owner Trust's right, title and interest in and to the Construction Contract and the Payment Guarantee Letter, and to perfect the security interest in the Construction Contract and the Indenture Estate created by the Indenture, shall have been duly made, subject to requirements for filing continuation statements at appropriate intervals and subject to Permitted Liens, and (b) no other action shall be required to perfect such mortgage Lien and security interest.

Title; Filings and Recordings. On the Closing Date, (a) all of ----------------------------- the Owner Participant's right, title and interest in and to the Construction Contract and the Payment Guarantee Letter shall have been duly and effectively transferred to the Owner Trust pursuant to the Assignment of Construction Contract, free and clear of all Liens other than Permitted Liens, and, except as set forth in Schedule 4, all filings and recordings and other action necessary or advisable to establish the Owner Trust's right, title and interest in and to the Construction Contract and the Payment Guarantee Letter, and to perfect the mortgage Lien on security interest in the Construction Contract and the Indenture Estate created by the Indenture, shall have been duly made, subject to requirements for filing continuation statements at appropriate intervals and subject to Permitted Liens, and (b) no other action shall be required to perfect such mortgage Lien and security interest.