Common use of Perfected Security Interests Clause in Contracts

Perfected Security Interests. The Collateral Documents, taken as a whole, are effective to create in favor of the Administrative Agent, for the benefit of the Secured Parties, a legal, valid and enforceable security interest in all of the Collateral to the extent purported to be created thereby, subject as to enforceability to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. With respect to the Collateral as of the Closing Date, at such time as (a) financing statements in appropriate form are filed in the appropriate offices (and the appropriate fees are paid), (b) the Aircraft Mortgage (including, without limitation, any Mortgage Supplement) is filed for recordation with the FAA (and the appropriate fees are paid) and registrations with respect to the International Interests in the Mortgaged Collateral constituted by the Aircraft Mortgage are duly made on the International Registry and (c) the execution of the Account Control Agreements, the Administrative Agent, for the benefit of the Secured Parties, shall have a first priority perfected security interest and/or mortgage (or comparable Lien) in all of such Collateral to the extent that the Liens on such Collateral may be perfected upon the filings or recordations or upon the taking of the actions described in clauses (a) through (c) above, subject in each case only to Permitted Liens, and such security interest is entitled to the benefits, rights and protections afforded under the Collateral Documents applicable thereto (subject to the qualification set forth in the first sentence of this Section 3.13).

Perfected Security Interests. The Collateral Documents, taken as a whole, are effective to create in favor of the Administrative Agent, for the benefit of the Secured Parties, a legal, valid and enforceable security interest in all of the Collateral to the extent purported to be created therebyPool Assets, subject as to enforceability to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. With respect to the Collateral as of the Closing Date, at At such time as (a) if applicable, financing statements in appropriate form are filed in the appropriate offices (and the appropriate fees are paid), ) and (b) the Aircraft applicable Mortgage (including, without limitation, any Mortgage SupplementSupplements) is filed for recordation with the FAA (and the appropriate fees are paid) and registrations with respect to the International Interests in the Mortgaged Collateral Pool Assets constituted by the Aircraft applicable Mortgage are duly made on in the International Registry and (c) the execution of the Account Control Agreements, the Administrative Agent, for the benefit of the Secured Parties, shall have a first priority (subject only to the Liens permitted under Section 6.01(a)) perfected security interest and/or mortgage (or comparable Lien) in all of such Collateral the Pool Assets to the extent that the Liens on such Collateral Pool Assets may be perfected upon the filings or recordations or upon the taking of the actions described in clauses (a) through and (cb) above, subject in each case only to Permitted Liensthe Liens permitted under Section 6.01(a), and such security interest is entitled to the benefits, rights and protections afforded under the applicable Collateral Documents applicable thereto (subject to the qualification set forth in the first sentence of this Section 3.13).

Perfected Security Interests. The Collateral Documents, taken as a whole, are effective to create in favor of the Administrative Agent, for the benefit of the Secured Parties, a legal, valid and enforceable security interest in all of the Collateral to the extent purported to be created therebyCollateral, subject as to enforceability to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. With respect to the Collateral as of the Closing Date, at At such time as (a) financing statements in appropriate form are filed in the appropriate offices (and the appropriate fees are paid), (b) the Aircraft Mortgage (including, without limitation, any Mortgage Supplement) is filed for recordation with the FAA (and the appropriate fees are paid) and registrations with respect to the International Interests in the Mortgaged Collateral constituted by the Aircraft Mortgage are duly made on in the International Registry and (c) in the execution case of any deposit account, the Account Control AgreementsAgreement with respect thereto is executed, the Administrative Agent, for the benefit of the Secured Parties, shall have a first priority (subject only to Specified Permitted Collateral Liens) perfected security interest and/or mortgage (or comparable Lien) in all of such the Collateral to the extent that the Liens on such Collateral may be perfected upon the filings or recordations or upon the taking of the actions described in clauses (a) through (c) above, subject in each case only to Permitted Collateral Liens, and such security interest is entitled to the benefits, rights and protections afforded under the Collateral Documents applicable thereto (subject to the qualification set forth in the first sentence of this Section 3.133.16).

Perfected Security Interests. The Collateral Documents, taken as a whole, are effective to create in favor of the Administrative Agent, for the benefit of the Secured Parties, a legal, valid and enforceable security interest in all of the Collateral to the extent purported to be created therebyPool Assets, subject as to enforceability to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. With respect to the Collateral as of the Closing Date, at At such time as (a) if applicable, financing statements in appropriate form are filed in the appropriate offices (and the appropriate fees are paid), ) and (b) the Aircraft applicable Mortgage (including, without limitation, any Mortgage SupplementSupplements) is filed for recordation with the FAA (and the appropriate fees are paid) and registrations with respect to the International Interests in the Mortgaged Collateral Pool Assets constituted by the Aircraft applicable Mortgage are duly made on in the International Registry and (c) the execution of the Account Control Agreements, the Administrative Agent, for the benefit of the Secured Parties, shall have a first priority (subject only to the Liens permitted under Section 6.01(a)) perfected security interest and/or mortgage (or comparable Lien) in all of such Collateral the Pool Assets to the extent that the Liens on such Collateral Pool Assets may be perfected upon the filings or recordations or upon the taking of the actions described in clauses (a) through and (cb) above, subject in each case only to Permitted Liensthe Liens permitted under Section 6.01(a), and such security interest is entitled to the benefits, rights and protections afforded under the applicable Collateral Documents applicable thereto (subject to the qualification set forth in the first sentence of this Section 3.13).. #1038422810384414v3315

Perfected Security Interests. The Collateral Documents, taken as a whole, are effective to create in favor of the Administrative Agent, for the benefit of the Secured Parties, a legal, valid and enforceable security interest in all of the Collateral to the extent purported to be created thereby, subject as to enforceability to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. With respect to the Collateral as of the Closing Date, at such time as (a) financing statements in appropriate form are filed in the appropriate offices (and the appropriate fees are paid), (b) the Aircraft Mortgage (includingexecution of any Account Control Agreement, without limitationif applicable, any Mortgage Supplement) is filed for recordation with the FAA (and the appropriate fees are paid) and registrations with respect to the International Interests in the Mortgaged Collateral constituted by the Aircraft Mortgage are duly made on the International Registry and (c) the execution appropriate filings with the FAA (including filing for recordation of the Account Control AgreementsAircraft Mortgage and corresponding Mortgage Supplement) and registrations with the International Registry, as applicable, are made, the Administrative Agent, for the benefit of the Secured Parties, shall have a first priority perfected security interest and/or mortgage (or comparable Lien) in all of such Collateral to the extent that UAL Term Loan Credit Agreement 2020 the Liens on such Collateral may be perfected upon the filings filings, registrations or recordations or upon the taking of the actions described in clauses (a), (b) through and (c) above, subject in each case only to Permitted Liens, and such security interest is entitled to the benefits, rights and protections afforded under the Collateral Documents applicable thereto (subject to the qualification set forth in the first sentence of this Section 3.133.15).