Common use of Title, Registration, Airworthiness, Etc Clause in Contracts

Title, Registration, Airworthiness, Etc. On the Delivery Date, the following statements shall be true, and the Participants, the Owner Trustee and the Indenture Trustee shall have received evidence satisfactory to each of them to the effect that: (1) the Owner Trustee has good and marketable title (subject to filing and recording of the Lessee FAA Bill xx Sale with the Federal Aviation Administration in accordance with the Act) to the Aircraft, free and clear of Liens other than the rights of Lessee under the Lease and Lease Supplement covering the Aircraft, the mortgage and security interest created by the Trust Indenture, the rights of the Owner Participant under the Trust Agreement and the Trust Supplement and Liens permitted by clause (d) (solely for taxes not yet due) or (e) of Section 6 of the Lease; (2) application for registration of the Aircraft in the name of the Owner Trustee (together with any required affidavits), the FAA Bill xx Sale and the Lessee FAA Bill xx Sale have been duly filed with the FAA; (3) the Trust Agreement, the Trust Indenture and the Trust Supplement and the Lease and the Lease Supplement have been duly filed with the FAA for recordation pursuant to the Act; (4) each of the Owner Trustee, as lessor under the Lease, and the Indenture Trustee, as assignee thereof, is entitled to the protection of Section 1110 of the United States Bankruptcy Code in connection with its right to take possession of the Airframe and Engines in the event of a case under Chapter 11 of the United States Bankruptcy Code in which Lessee is a debtor; and (5) the Aircraft has been duly certificated by the FAA as to type and airworthiness in accordance with the terms of the Lease and has a current, valid U.S. standard certificate of airworthiness issued by the FAA.

Title, Registration, Airworthiness, Etc. On the Delivery Date, the following statements shall be true, and the Participants, the Owner Trustee and the Indenture Trustee shall have received evidence satisfactory to each of them to the effect that: (1) the Owner Trustee has good and marketable title (subject to filing and recording of the Lessee FAA Bill xx Sale with the Federal Aviation Administration in accordance with the Act) to the Aircraft, free and clear of Liens other than the rights of Lessee under the Lease and Lease Supplement covering the Aircraft, the mortgage and security interest created by the Trust Indenture, the rights of the Owner Participant under the Trust Agreement and the Trust Supplement and Liens permitted by clause (d) (solely for taxes not yet due) or (e) of Section 6 of the Lease; (2) application for registration of the Aircraft in the name of the Owner Trustee (together with any required affidavits), the FAA Bill xx Sale and the Lessee FAA Bill xx Sale have been duly filed with the FAA; (3) the Trust Agreement, the Trust Indenture and the Trust Supplement and the Lease and the Lease Supplement have been duly filed with the FAA for recordation pursuant to the Act; (4) each of the Owner Trustee, as lessor under the Lease, and the Indenture Trustee, as assignee thereof, is entitled to the protection of Section 1110 of the United States Bankruptcy Code in connection with its right to take possession of the Airframe and Engines in the event of a case under Chapter 11 of the United States Bankruptcy Code in which Lessee is a debtor; andof (5) the Aircraft has been duly certificated by the FAA as to type and airworthiness in accordance with the terms of the Lease and has a current, valid U.S. standard certificate of airworthiness issued by the FAA.