Interest in Equipment Sample Clauses

Interest in Equipment. Immediately prior to the grant of a security interest therein under this Agreement, either (i) each Receivable shall be a true lease, and the Originator owned the related Equipment, which Equipment has been validly transferred to the Borrower and to which the Borrower has acquired good title, and the Borrower has granted a first priority perfected security interest therein to the Collateral Agent for the benefit of the Secured Parties or (ii) each Receivable shall be secured by a validly existing first priority perfected security interest in the Equipment in favor of the Originator (as original lien holder or assignee) as secured party, and such security interest is or shall be prior to all other Liens upon and security interests in such Equipment, other than Permitted Liens, which now exist or may hereafter arise or be created and such security interest has been assigned by the Originator to the Borrower and by the Borrower to the Collateral Agent, for the benefit of the Secured Parties. Immediately after the transfers and conveyances to the Borrower as contemplated in the First Tier Purchase Agreement, all necessary action will have been taken by the Originator to validly convey to the Borrower (A) all right, title and interest of the Originator in and to each Receivable and all Scheduled Payments to become due thereunder and (B) all right, title and interest of the Originator in and to the related Equipment.
Sample 1
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Interest in Equipment. Notwithstanding anything in any Lease Document to the contrary, the Equipment is and shall at all times be and remain the sole and exclusive personal property of Lessor, and notwithstanding any trade-in or down payment by Lessee or on its behalf with respect to the Equipment, Lessee shall have no right, title or interest therein or thereto except as to the use thereof subject to the terms or conditions of this Lease.
Sample 1
Interest in Equipment. Operator hereby acknowledges and agrees that: (i) it does not have, and it hereby disclaims, any present or future right, title or interest (other than Operator’s contractual right to use the Equipment, as and to the extent provided in the Use Agreement) in or to the Equipment, or any part thereof, and it will keep all of the same free and clear of Liens attributable to Operator, other than Permitted Liens, and (ii) title to any upgrades, modifications, additions, parts, and other related equipment, property or software, attached or added to, incorporated into, or otherwise made a part of the Equipment by Operator or any service provider or vendor pursuant to the Use Agreement, will vest in Lessor, free and clear of Liens for which Operator is responsible, other than Permitted Liens.
Sample 1
Interest in Equipment. The Equipment covered by this Lease Schedule is and shall at all times be and remain the sole and exclusive personal property of Lessor, and notwithstanding any trade-in or down payment by or on behalf of Lessee with respect to such Equipment, Lessee shall have no right, title or interest therein or thereto except as to the use thereof subject to the terms or conditions of this Lease Schedule.
Sample 1
Interest in Equipment. In addition to, and without in any way limiting the provisions of, Section 12 of the Master Lease, Lessee hereby grants to Lessor a first priority security interest in the Equipment covered by this Lease Schedule, together with (a) all general intangibles relating thereto, (b) all documents relating thereto, (c) any cash or cash equivalent deposits made by Lessee to Lessor comprising a security deposit, (d) all accounts, chattel paper and general intangibles arising out of the sale, transfer or other disposition of any of such Equipment, (e) all of Lessee’s rights to receive the return of any premiums for, or proceeds of, any insurance, indemnity, warranty or guaranty with respect to any of such Equipment, and (f) all products and proceeds of any of the foregoing property.
Sample 1
Interest in Equipment. For income tax purposes, the parties hereto agree that it is their mutual intention that Lessee shall be considered the owner of the Equipment and, as such, Lessee shall take depreciation deductions with respect to the Equipment in accordance with Section 168 of the Internal Revenue Code of 1986, as amended.
Sample 1

Related to Interest in Equipment

  • Security Interest in Financed Equipment Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority security interest in the Financed Equipment in favor of CNHICA as secured party or all necessary and appropriate actions have been commenced that would result in the valid perfection of a first priority security interest in the Financed Equipment in favor of CNHICA as secured party.

  • Leased Equipment The risk of loss or damage to leased equipment, goods or property shall not transfer to the University except as provided in §680.219, Florida Statutes. Any security interest in the leased equipment, goods or property granted to the Contractor contrary to AGO 79-72 and AGO 80-9 is null and void. Limitations of remedies provisions, which are unconscionable under applicable Florida law, are void. MATERIAL SAFETY DATA SHEET (MSDS). In compliance with Florida Statutes, Ch. 442, a Material Safety Data Sheet (MSDS) must accompany any applicable item delivered under this Agreement.

  • Security Interest in Financed Vehicles Immediately prior to the transfer of the Receivables by the Depositor to the Trust, each Receivable was secured by a valid, binding and enforceable first priority perfected security interest in favor of the Seller in the related Financed Vehicle, or all necessary and appropriate actions shall have been commenced that would result in the valid perfection of a first priority security interest in favor of the Seller in the Financed Vehicle, which security interest has been validly assigned by the Seller to the Depositor pursuant to the Receivables Purchase Agreement and by the Depositor to the Trust hereunder.

  • Interest Bearing Call or Time Deposits The Bank shall, upon receipt of Proper Instructions relating to the purchase by the Fund of interest-bearing fixed-term and call deposits, transfer cash, by wire or otherwise, in such amounts and to such bank or banks as shall be indicated in such Proper Instructions. The Bank shall include in its records with respect to the assets of the Fund appropriate notation as to the amount of each such deposit, the banking institution with which such deposit is made (the "Deposit Bank"), and shall retain such forms of advice or receipt evidencing the deposit, if any, as may be forwarded to the Bank by the Deposit Bank. Such deposits shall be deemed Portfolio Securities of the Fund and the responsibility of the Bank therefore shall be the same as and no greater than the Bank's responsibility in respect of other Portfolio Securities of the Fund.

  • Location of Equipment and Inventory All Equipment and Inventory are (i) located at the locations indicated on Schedule 4 (ii) in transit to such locations or (iii) in transit to a third party purchaser which will become obligated on a Receivable to the Debtor upon receipt. Except for Equipment and Inventory referred to in clauses (ii) and (iii) of the preceding sentence, the Debtor has exclusive possession and control of the Inventory and Equipment.

  • Total Assets Based on total assets at period end. Used primarily to allocate costs associated with the oversight and safeguarding of corporate assets. This would include services provided by financial management and certain finance functions, among others. Also used when the services provided are driven by the relative size and complexity of the System Companies and there is no functional relationship between the services and any other available allocation formula. BNK - BANK ACCOUNTS Based on the number of bank accounts at period end. Used for the allocation of costs associated with daily cash management activities.

  • Title to Equipment Title shall vest in the Contractor to all equipment purchased hereunder.

  • Interest in Teaching Pupils The certificated classroom teacher demonstrates an understanding of and commitment to each pupil, taking into account each individual's unique background and characteristics. The certificated classroom teacher demonstrates enthusiasm for or enjoyment in working with pupils, to wit:

  • Computer Equipment No computers and/or personal electronic devices, such as tablets and laptop computers, or any component thereof, may be purchased with funds provided under this Contract, regardless of purchase price, without prior written approval of ADMINISTRATOR. Any such purchase shall be in accordance with specifications provided by ADMINISTRATOR, be subject to the same inventory control conditions specified in Subparagraphs 19.1.1 to 19.1.4, and, at the sole discretion of ADMINISTRATOR, become the property of COUNTY upon termination of this Contract.

  • Capital Equipment Collaborator’s commitment, if any, to provide IC with capital equipment to enable the research and development activities under the Research Plan appears in Appendix B. If Collaborator transfers to IC the capital equipment or provides funds for IC to purchase it, then IC will own the equipment. If Collaborator loans capital equipment to IC for use during the CRADA, Collaborator will be responsible for paying all costs and fees associated with the transport, installation, maintenance, repair, removal, or disposal of the equipment, and IC will not be liable for any damage to the equipment.

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