Common use of Registration and Operation Clause in Contracts

Registration and Operation. (a) The Grantor shall cause the Aircraft to be duly registered, and at all times thereafter to remain duly registered, in the name of the Grantor as owner with the FAA pursuant to the Act. The Grantor agrees that it will not utilize any item of Equipment in violation of any law or any rule, regulation or order (including, without limitation, concerning alcoholic beverages or prohibited substances) of any governmental authority having jurisdiction (domestic or foreign) or in violation of any airworthiness certificate, license or registration relating to any item of Equipment issued by any such authority, except to the extent such violation is not material or the validity or application of any such law, rule, regulation or order is being contested in good faith and by appropriate proceedings (but only so long as such proceedings do not involve any material danger of the sale, forfeiture or loss of such item of Equipment, or any interest, including the Lender's security interest, therein). In the event that any such law, rule, regulation or order requires alteration of any item of Equipment, unless the validity thereof is being contested in good faith and by appropriate proceedings (but only so long as such proceedings do not involve any material danger of the sale, forfeiture or loss of any item of Equipment, or any interest, including the Lender's security interest, therein), the Grantor will obtain conformance therewith at no expense to the Lender and will cause such item of Equipment to be maintained in proper operating condition under such laws, rules, regulations and orders. (b) The Grantor shall not operate the Aircraft in any country or territory where armed conflict exists unless the Aircraft is fully insured against such risks. (c) The Grantor agrees that it will not utilize any item of Equipment in any area excluded from coverage by the insurance required by the terms of Article 5.

Registration and Operation. (a) The Grantor shall Grantor, at its own cost and expense, will cause the each Aircraft to be duly registeredregistered in the name of Grantor as owner and subject only to Secured Party’s first priority security interest and International Interest, and at all times thereafter to remain duly registered, in the name of the Grantor as owner with the FAA Relevant Authority pursuant to the Act. The . b) Grantor agrees that it will not utilize use any item of Equipment Aircraft in violation of any law or any rule, regulation or order (including, without limitation, including those concerning alcoholic beverages or prohibited substances) of any governmental authority having jurisdiction (domestic or foreign) or in violation of any airworthiness certificate, license or registration relating to any item of Equipment issued by any such authority, except to the extent such violation is not material or the validity or application of any such law, rule, regulation or order is being contested in good faith and by appropriate proceedings (but only so long as such proceedings do not not, in the Secured Party’s reasonable opinion, involve any material danger of the sale, forfeiture or loss of such item of Equipment, or any interest, including the Lender's Secured Party’s security interestinterest or International Interest, thereintherein or related thereto). c) Grantor will operate each Aircraft solely in the conduct of its business and/or for commercial purposes (and not for consumer, home or family purposes) and in such configuration as authorized by the Relevant Authority. In Grantor will not operate any Aircraft or permit any Aircraft to be operated (i) at any time or in any geographic area when or where insurance required by this Agreement is not in effect, (ii) in a manner or for any time period such that a Person other than Grantor will be deemed to have “operational control” of such Aircraft except with the event that any such lawprior written consent (which consent will not be unreasonably withheld) of Secured Party, rule(iii) for the carriage of persons or property for hire except with the prior written consent of Secured Party or (iv) for the transport of mail or contraband. Possession, regulation use and maintenance of each Aircraft will be at the sole risk and expense of Grantor and each Aircraft will be based at the Primary Hangar Location or order requires alteration other normal operational base. Grantor will use reasonable commercial efforts to deliver to Secured Party a written waiver of any item Lien or claim of Equipment, unless the validity thereof Lien against any Aircraft that is being contested in good faith and or could be held by appropriate proceedings any landlord (but only so long as such proceedings do not involve any material danger of the sale, forfeiture other than a governmental entity) or loss mortgagee of any item of Equipment, hangar or storage facility where any interest, including the Lender's security interest, therein), the Aircraft is or will be located. Grantor will obtain conformance therewith at no expense to the Lender and will cause such item of Equipment each Aircraft to be maintained in proper operating operated at all times by duly qualified pilots who (x) are supplied by Grantor, (y) hold at least a valid commercial airman certificate and instrument rating and any other certificate, rating, type rating or endorsement appropriate to such Aircraft, purpose of flight, condition under such lawsof flight or as otherwise required by the Federal Aviation Regulations or other applicable law or regulation, rules, regulations and orders. (bz) The Grantor shall not operate meet the Aircraft in any country or territory where armed conflict exists unless the Aircraft is fully insured against such risks. (c) The Grantor agrees that it will not utilize any item of Equipment in any area excluded from coverage requirements established and specified by the insurance policies required hereunder and by the terms of Article 5Relevant Authority. d) Grantor will execute and deliver and the Secured Party will file with the Relevant Authority on or prior to the date hereof an Irrevocable De-Registration and Export Request Authorization with respect to each Aircraft in the form attached hereto as Exhibit A.

Registration and Operation. (a) The Grantor shall cause the Aircraft to be duly registered, and at all times thereafter to remain duly registered, in the name of the Grantor as owner with the FAA pursuant to the Act. The Grantor agrees that it will not utilize any item of Equipment in violation of any law or any rule, regulation or order (including, without limitation, concerning alcoholic beverages or prohibited substances) of any governmental authority Governmental Authority having jurisdiction (domestic or foreign) or in violation of any airworthiness certificate, license or registration relating to any item of Equipment issued by any such authority, except to the extent such violation is not material or the validity or application of any such lawlaws, rule, regulation or order is being contested in good faith and by appropriate proceedings (but only so long as provided that, if any such proceedings do not proceeding might reasonably be expected to result in or involve any material danger of the attachment, sale, forfeiture or loss of such any item of Equipment, or any interest, interest therein (including the Lender's security interestLien of the Agent), thereinthen the Grantor shall exclude such Equipment from the Borrowing Base). In the event that any such law, rule, regulation or order requires alteration of any item of Equipment, unless the validity thereof is being contested in good faith and by appropriate proceedings (but only so long as provided that, if any such proceedings do not proceeding might reasonably be expected to result in or involve any material danger of the attachment, sale, forfeiture or loss of any item of Equipment, Equipment or any interest, interest therein (including the Lender's security interestLien of the Agent), thereinthen the Grantor shall exclude such Equipment from the Borrowing Base), the Grantor will obtain conformance therewith at no expense to the Lender Agent or the Lenders and will cause such item of Equipment to be maintained in proper operating condition under such laws, rules, regulations and orders. (b) The Grantor shall not operate include any Airframes in the Aircraft calculation of the Borrowing Base if any of the same land in any country countries other than the United States of America, Canada, Mexico or territory where armed conflict exists unless the Aircraft is fully insured against such risksCaribbean. (c) The Grantor agrees that it will not utilize any item of Equipment in any area excluded from coverage by the insurance required by the terms of Article 5. (d) The Equipment is not, and will not, be registered under the laws of any foreign country. (e) The Equipment is and shall remain at all times eligible for registration under the Act. (f) The Equipment included by Grantor in the calculation of the Borrowing Base shall be based in the United States of America and Canada. (g) The Equipment will not be used in violation of any law, regulation, ordinance or policy of insurance affecting the maintenance, use or flight of the Equipment. (h) The Grantor qualifies as a citizen of the United States of America as defined in the Act, and will continue to qualify as a United States of America citizen in all respects.