Perfection Requirement. The following requirements shall be included in the definition of “Perfection Requirement” and shall constitute an additional “Perfection Requirement” with respect to Collateral consisting of Spare Parts Assets: (a) The applicable Grantor, at its sole cost and expense, will cause the FAA Filed Documents to be prepared and duly and timely filed and recorded, or filed for recordation with the FAA to the extent permitted or required under Title 49. (b) The applicable Grantor, at its sole cost and expenses, shall: (i) Execute and deliver, or cause to be executed and delivered, the Mortgage Location Supplements in form and substance satisfactory to the Appropriate Party. (ii) Duly prepare and file, or cause to be duly prepared and filed, the FAA Filed Documents for recordation with the FAA in accordance with Title 49 and the regulations thereunder.
Appears in 3 contracts
Sources: Pledge and Security Agreement (Sun Country Airlines Holdings, Inc.), Security Agreement (Alaska Air Group, Inc.), Aircraft and Engine Pledge and Security Agreement (Alaska Air Group, Inc.)