Common use of Applicable Security Documents Clause in Contracts

Applicable Security Documents. The Administrative Agent shall have received the documents and instruments reasonably required to perfect the Secured Parties’ first-priority Lien on, and security interest in, the Collateral (subject to Aircraft Perfection Requirements) required to be delivered on or prior to such Funding Date, which shall have been duly executed and delivered and be in proper form for filing, and shall create in favor of the Secured Parties, a perfected (to the extent obtainable under applicable law) first-priority Lien on, and security interest in, the Collateral (subject to Aircraft Perfection Requirements);

Applicable Security Documents. The Administrative Agent shall have received the documents and instruments reasonably required to perfect the Secured Parties’ first-priority Lien on, and security interest in, the Collateral (subject to Aircraft Perfection Requirements) required to be delivered on or prior to such Funding Drawdown Date, which shall have been duly executed and delivered and be in proper form for filing, and shall create in favor of the Secured Parties, a perfected (to the extent obtainable under applicable lawApplicable Law) first-priority Lien on, and security interest in, the Collateral (subject to Aircraft Perfection Requirements);