Registrations Upon Closing Clause Samples
The "Registrations Upon Closing" clause requires that certain registrations, filings, or notifications be completed at the time a transaction is finalized. In practice, this may involve updating ownership records, transferring licenses, or notifying relevant authorities to reflect the new status of assets or parties involved. The core function of this clause is to ensure that all legal and regulatory requirements are promptly met upon closing, thereby preventing future disputes or compliance issues related to the transaction.
Registrations Upon Closing. Subject to the terms and conditions of this Agreement, and simultaneously with receipt by the Owner of the proceeds of the Notes made in connection with any Designated Aircraft pursuant to this Section 2, the Owner shall authorize (i) the delivery and filing for record at the FAA of the Mortgage and the Mortgage Supplement and the Lease and the Lease Supplement for such Aircraft and (ii) the registration at the International Registry of the Security Trustee’s international interest in the related Airframe and each Engine installed thereon and in the Lease and such Lease Supplement.