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The undersigned secured party warrants that the secured party is the owner of a valid security interest in the said aircraft. A Guaranty Clause or any other provisions which the parties are desirous of making a part of this assignment should be included in the following space. Dated this NAME OF SECURED PARTY ASSIGNOR THIS FORM IS ONLY INTENDED TO BE A SUGGESTED FORM OF SECURITY AGREEMENT WHICH MEETS THE RECORDING REQUIREMENTS OF TITLE 49 UNITED STATES CODE AND THE REGULATIONS ISSUED THEREUNDER ...

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Versions	Form popularity	Fillable & printable
2021	4.8 Satisfied (162 Votes)
2012	4.3 Satisfied (49 Votes)
2006	4.3 Satisfied (173 Votes)

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Does UCC apply to aircraft?

THE UNIFORM COMMERCIAL CODE The primary state laws applicable to aircraft finance transactions are Articles 2, 2A, and 9 of the UCC.

What is an aircraft security agreement?

Aircraft Security Agreement means one or more aircraft security agreements executed and delivered by one or more of the Borrowers or the Guarantors in favor of Agent, in each case, in form and substance satisfactory to Agent.

Do you file a UCC on aircraft?

State law \u2013 perfection by complying with UCC A UCC-1 financing statement should always be filed against the lessee as 'debtor' and specify the aircraft as collateral in order to protect a lessor's interest in its aircraft in the event that the lease is construed to be a finance lease.

How do you perfect a security interest on an aircraft?

To complete the perfection process, the grantee must submit a signed original of the security agreement to the FAA Aircraft Registry, evidence of the authorisation of the signing party, and the US$5 filing fee, and then mail a signed original agreement to the FAA's Aircraft Registration Branch.

Can aircraft be registered in two countries?

An aircraft can only have one registration in one jurisdiction. However, the registration can be changeable over the life of the aircraft from one country registry to another.

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