Common use of No Recordation Necessary Clause in Contracts

No Recordation Necessary. This Agreement and each Security Document is in proper legal form for the enforcement hereof or thereof against the Company and each Borrowing Subsidiary under the law of the jurisdiction of organization of such Borrower and under the law of the jurisdiction in which the Local Loans, Acceptances or Acquisition Loans, as the case may be, are being made to the Company and such Borrowing Subsidiary, and to ensure the legality, validity, enforceability, priority or admissibility in evidence of this Agreement and the Security Documents it is not necessary that this Agreement, the Security Documents or any other document be filed, registered or recorded with, or executed or notarized before, any court or other authority in the jurisdiction of organization of such Borrowing Subsidiary or in the jurisdiction in which the Local Loans, Acceptances or Acquisition Loans, as the case may be, are being made to the Company and it, or that any registration charge or stamp or similar tax be paid on or in respect of this Agreement, the Security Documents or any other document.

No Recordation Necessary. This Agreement and each Security Document is in proper legal form for the enforcement hereof or thereof against the Company and each Local Borrowing Subsidiary under the law of the jurisdiction of organization of such Borrower and under the law of the jurisdiction in which the Local Loans, Acceptances Loans or Acquisition LoansAcceptances, as the case may be, are being made to the Company and such Local Borrowing Subsidiary, and to ensure the legality, validity, enforceability, priority or admissibility in evidence of this Agreement and the Security Documents it is not necessary that this Agreement, the Security Documents or any other document be filed, registered or recorded with, or executed or notarized before, any court or other authority in the jurisdiction of organization of such Local Borrowing Subsidiary or in the jurisdiction in which the Local Loans, Acceptances Loans or Acquisition LoansAcceptances, as the case may be, are being made to the Company and it, or that any registration charge or stamp or similar tax be paid on or in respect of this Agreement, the Security Documents or any other document.