Common use of Ownership of Beneficial Interest Clause in Contracts

Ownership of Beneficial Interest. The Existing Beneficiary represents and warrants to the New Beneficiary, its successors and assigns that, immediately prior to the Effective Time, it is the sole beneficiary of the GATS Trust and, at the Effective Time, there is assigned and transferred to the New Beneficiary full legal and beneficial title to all of the Transferred Beneficial Interest free and clear of all Security Interests. Ownership of Aircraft Equipment Unless this Section 3.2 is expressly disapplied as indicated in Table 2 of Schedule 3 (Transfer Details), each of the Existing Beneficiary and the Trustee represents and warrants to the New Beneficiary, its successors and assigns that, collectively and immediately prior to the Effective Time, the Trustee and the Existing Beneficiary have full legal and beneficial title to all of the Aircraft Equipment (including the Aircraft Equipment, if any, identified in Table 1 of Schedule 3 (Transfer Details)) free and clear of all Security Interests other than Permitted Encumbrances.

Ownership of Beneficial Interest. The Existing Beneficiary represents and warrants to the New Beneficiary, its successors and assigns that, immediately prior to the Effective Time, it is the sole beneficiary of the GATS Trust and, at the Effective Time, there is assigned and transferred to the New Beneficiary full legal and beneficial title to all of the Transferred Beneficial Interest free and clear of all Security Interests. Ownership of Aircraft Equipment Unless this Section 3.2 is expressly disapplied as indicated in Table 2 of Schedule 3 (Transfer Details), each of the Existing Beneficiary and the Trustee represents and warrants to the New Beneficiary, its successors and assigns that, collectively and immediately prior to the Effective Time, the Trustee and the Existing Beneficiary have full legal and beneficial title to all of the Aircraft Equipment (including the Aircraft Equipment, if any, identified in Table 1 of Schedule 3 (Transfer Details)) free and clear of all Security Interests other than Permitted Encumbrances.. MISCELLANEOUS [Intentionally Omitted] [Intentionally Omitted]

Ownership of Beneficial Interest. The Existing Beneficiary represents and warrants to the New Beneficiary, its successors and assigns that, immediately prior to the Effective Time, it is the sole beneficiary of the GATS Trust and, at the Effective Time, there is assigned and transferred to the New Beneficiary full legal and beneficial title to all of the Transferred Beneficial Interest free and clear of all Security Interests. Ownership of Aircraft Equipment Unless this Section 3.2 is expressly disapplied as indicated in Table 2 of Schedule 3 (Transfer Details), each of the Existing Beneficiary and the Trustee represents and warrants to the New Beneficiary, its successors and assigns that, collectively and immediately prior to the Effective Time, the Trustee and the Existing Beneficiary have have, full legal and beneficial title to all of the Aircraft Equipment (including the Aircraft Equipment, if any, identified in Table 1 of Schedule 3 (Transfer Details)) free and clear of all Security Interests other than Permitted Encumbrances.