Title for Systems Under MRP Sample Clauses

Title for Systems Under MRP. With MRP, Customer will not have title to the System or any sub- element thereof. Verizon, or a TPFC will have title. Customer waives and releases any right, title and interest that it may have in a System. In the event that MRP is determined to be an extension of credit, Customer hereby grants a security interest in Customer’s right, title and interest, now existing and hereafter arising, in and to any System, including all insurance, warranty, and chattel paper arising out of a System. Verizon or its assignee may, at its option, perfect ownership in a System by filing a registration or financing statement (e.g., in the United States, a Uniform Commercial Code filing) naming Customer as the debtor and identifying the ownership or security interest in the System, as applicable.
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