Common use of Registration and Recording Clause in Contracts

Registration and Recording. Prior to the lease of any Equipment to a Qualified Lessee, Seller shall have received evidence satisfactory to Seller that: (i) upon the lease of such Equipment, the Seller will retain full ownership rights to and interest in the Equipment, and the Seller will have a first-priority security interest in the corresponding Lease and other Collateral under applicable law of the jurisdiction in which such Equipment is to be located; and (ii) precautionary Uniform Commercial Code financing statements and all registrations, recordations, filings or any other relevant jurisdiction have been duly executed by the relevant Qualified Lessee, as lessee, and Purchaser, as lessor, and listing Seller as assignee, and shall be promptly duly filed in any applicable states of the United States or any other applicable jurisdiction, to establish, maintain, preserve, perfect and protect Seller's rights, titles and interests in and to the relevant Lease.