Under the Federal Aviation Act of 1958, any conveyance that affects the title to, or any interest in, any civil aircraft of the United States must be acknowledged and recorded with the Administrator of the Federal Aviation Administration in the manner prescribed by statute. After such an instrument is recorded, it is valid as to all persons without recording and regardless of notice.
Documents relating to interests in aircraft are filed with the FAA Registry in Oklahoma City, Oklahoma. Documents must be signed in ink by the appropriate party (e.g. seller, grantor, lien claimant, etc.) or by someone on behalf of the appropriate party with a title acceptable to the FAA (President, Chief Manager etc.). The FAA Registry Examination Guidelines contain a list of titles that are acceptable to the FAA.
To be eligible for recording, an instrument granting a security interest in an aircraft must be signed in ink and describe the aircraft by manufacturer, model, serial number, and registration number. The debtor must be the registered owner of the aircraft; be the owner of record on the date the instrument is executed, as evidenced by documents on file with the FAA Aircraft Registry; or the lien document be accompanied by the debtors evidence of ownership/, application.
An Oregon Aircraft Lease Agreement with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in Engine is a legally binding contract between the lessor (the owner of the aircraft) and the lessee (the party leasing the aircraft) in the state of Oregon. This agreement allows the lessee to lease an aircraft from the lessor, with the unique feature that the lessee agrees to supply a new engine in exchange for a specified number of flight hours. Additionally, the lessor can take a security interest in the engine provided by the lessee. Keywords: Oregon, aircraft lease agreement, lessee, supply new engine, flight hours, security interest. Different types of Oregon Aircraft Lease Agreements with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in Engine may include variations based on specific terms, conditions, and aircraft models. Here are a few possible types: 1. Fixed Flight Hour Oregon Aircraft Lease Agreement: This type of agreement outlines a fixed number of flight hours the lessee must complete in exchange for supplying a new engine to the lessor. The lessee agrees to meet the predetermined flight hour requirement within a specified timeframe. 2. Variable Flight Hour Oregon Aircraft Lease Agreement: This agreement allows for flexibility in the number of flight hours the lessee must fulfill. The lessee and the lessor negotiate and determine the range or minimum and maximum flight hours required in exchange for the new engine. 3. Specific Aircraft Model Oregon Aircraft Lease Agreement: In this type of agreement, the details are tailored to a specific aircraft model. This ensures that the lessee will provide an engine compatible with the leased aircraft, as agreed upon by the lessor. 4. Partial Engine Replacement Oregon Aircraft Lease Agreement: Unlike the previous types, this agreement allows the lessee to replace only a specific component of the engine instead of the entire engine. This partial engine replacement is still conducted in exchange for a designated number of flight hours and a security interest taken by the lessor. 5. Exclusive Use Oregon Aircraft Lease Agreement: Exclusive use agreements grant the lessee sole access to the aircraft during the lease period. This type of agreement may require the lessee to supply an engine and complete a certain number of flight hours. It is important to note that specific terms and conditions, including lease duration, insurance requirements, maintenance responsibilities, and indemnification clauses, may vary within each type of Oregon Aircraft Lease Agreement with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in Engine.An Oregon Aircraft Lease Agreement with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in Engine is a legally binding contract between the lessor (the owner of the aircraft) and the lessee (the party leasing the aircraft) in the state of Oregon. This agreement allows the lessee to lease an aircraft from the lessor, with the unique feature that the lessee agrees to supply a new engine in exchange for a specified number of flight hours. Additionally, the lessor can take a security interest in the engine provided by the lessee. Keywords: Oregon, aircraft lease agreement, lessee, supply new engine, flight hours, security interest. Different types of Oregon Aircraft Lease Agreements with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in Engine may include variations based on specific terms, conditions, and aircraft models. Here are a few possible types: 1. Fixed Flight Hour Oregon Aircraft Lease Agreement: This type of agreement outlines a fixed number of flight hours the lessee must complete in exchange for supplying a new engine to the lessor. The lessee agrees to meet the predetermined flight hour requirement within a specified timeframe. 2. Variable Flight Hour Oregon Aircraft Lease Agreement: This agreement allows for flexibility in the number of flight hours the lessee must fulfill. The lessee and the lessor negotiate and determine the range or minimum and maximum flight hours required in exchange for the new engine. 3. Specific Aircraft Model Oregon Aircraft Lease Agreement: In this type of agreement, the details are tailored to a specific aircraft model. This ensures that the lessee will provide an engine compatible with the leased aircraft, as agreed upon by the lessor. 4. Partial Engine Replacement Oregon Aircraft Lease Agreement: Unlike the previous types, this agreement allows the lessee to replace only a specific component of the engine instead of the entire engine. This partial engine replacement is still conducted in exchange for a designated number of flight hours and a security interest taken by the lessor. 5. Exclusive Use Oregon Aircraft Lease Agreement: Exclusive use agreements grant the lessee sole access to the aircraft during the lease period. This type of agreement may require the lessee to supply an engine and complete a certain number of flight hours. It is important to note that specific terms and conditions, including lease duration, insurance requirements, maintenance responsibilities, and indemnification clauses, may vary within each type of Oregon Aircraft Lease Agreement with Lessee to Supply New Engine in Exchange for Flight Hours and take a Security Interest in Engine.
