TITLE TO EQUIPMENT; SECURITY INTEREST Sample Clauses

TITLE TO EQUIPMENT; SECURITY INTEREST. It is Authority’s and City’s intention that this Agreement not constitute a “true” lease for federal income tax purposes and, therefore, it is Authority’s and City’s intention that City be considered the owner of the Equipment for federal income tax purposes. Upon delivery of the Equipment to City under this Agreement, title to the Equipment will vest in City, subject to the rights of Authority under this Agreement; provided, however, that (a) if this Agreement is terminated as a result of an Event of Non-appropriation by the City pursuant to Section 6 hereof; (b) upon the occurrence of an Event of Default (as hereinafter defined), and as long as such Event of Default is continuing; or (c) in the event that the purchase option provided in Section 19 has not been exercised prior to the Expiration Date, title will immediately vest in Authority or its Assignee. To the extent that no Event of Default has occurred and is continuing, or no event which with notice or lapse of time, or both, could become an Event of Default then exists, when all Lease Payments have been paid, along with any applicable late charges or taxes, or when City has exercised the purchase option and paid the purchase price pursuant to Section 19 of this Agreement, Authority will transfer any and all of its right, title and interest in the Equipment to the City. In order to secure all of its obligations hereunder, City hereby (w) grants to Bank, as assignee of the Authority, a first priority security interest in any and all right, title and interest of City in the Equipment and in all additions, attachments, accessions, and substitutions thereto, and on any proceeds therefrom, (x) moneys and investments held in the Equipment Acquisition Fund, including proceeds therefrom, established the Escrow Agreement, (y) agrees that the Authority may file a financing statement evidencing such security interest, and (z) agrees to execute and deliver all financing statements, certificates of title and other instruments reasonably requested by Authority or its Assignee to evidence such security interest.
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TITLE TO EQUIPMENT; SECURITY INTEREST. During the term of this Lease, title to the Equipment and any and all additions, repairs, replacements or modifications shall vest in Lessor, subject to the interest and rights of Lessee hereunder and to encumbrances created or suffered to exist by Lessor, including, without limitation, liens granted by Lessor upon the Equipment as security for payments due to the Registered Owner of the Assignment. Whether the Acquisition Cost is funded by Lessor’s assignee rather than Lessor itself, through the sale of the Assignment, or by Lessor’s sale of the Assignment to the Registered Owner after such Acquisition Cost is paid by Lessor, Lessor may encumber its title to the Equipment to secure such Registered Owner.
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TITLE TO EQUIPMENT; SECURITY INTEREST. Upon acceptance of the Equipment by Lessee hereunder, title to the Equipment will vest in Lessee subject to Lessor's rights under this Master Agreement; provided, however, that title will immediately vest in Lessor without any action by Lessee and Lessee shall immediately surrender possession of the Equipment to Lessor in accordance with Section 5 hereof, it. Lessee terminates the Lease Term of the Equipment pursuant to Section 6, or upon the occurrence of an Event of Default, or if Lessee does not 'exercise the purchase option prior to the Expiration Date. In order to secure all of its obligations hereunder, Lessee hereby (a) grants to Lessor, a first and prior security interest in any and all right, title and interest of Lessee in the Equipment including but not limited to computer programs and computer documentation, if any, relating to the Equipment and in all additions, attachments, accessions, and substitutions thereto, and on any proceeds therefrom, (b) agrees that this Master Agreement may be filed as a financing statement evidencing such security interest,
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TITLE TO EQUIPMENT; SECURITY INTEREST. Section 6.01. Title to the Equipment 7 Section 6.02. Security Interest 8 Section 6.03. Personal Property 8 ARTICLE VII
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TITLE TO EQUIPMENT; SECURITY INTEREST. Section 6.01. Title to the Equipment ..............................................21 Section 6.02. Security Interest in Equipment ......................................22
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TITLE TO EQUIPMENT; SECURITY INTEREST. Section 6.01. Title to the Equipment. Legal title to the Equipment and any and all repairs, replacements, substitutions and modifications to such Equipment shall be in Borrower. Borrower will at all times protect and defend, at its own cost and expense, its title from and against all claims, liens and legal processes of creditors of Borrower, and keep all Equipment free and clear of all such claims, liens and processes.
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TITLE TO EQUIPMENT; SECURITY INTEREST. Upon acceptance of the Equipment by Lessee, title to the Equipment shall vest in Lessee; provided, however, that (i) in the event of termination of the Lease by Lessee pursuant to Section 8 hereof, or
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TITLE TO EQUIPMENT; SECURITY INTEREST 
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Related to TITLE TO EQUIPMENT; SECURITY INTEREST

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

  • Title to Collateral The Collateral is owned by Borrower, free and clear of all liens and other encumbrances of any kind (including liens or other encumbrances upon properties acquired or to be acquired under conditional sales agreement or other title retention devised), excepting only liens in favor of Lender.

  • Title to Real and Personal Property The Company and its subsidiaries have good and marketable title in fee simple (in the case of real property) to, or have valid and marketable rights to lease or otherwise use, all items of real and personal property and assets that are material to the respective businesses of the Company and its subsidiaries, in each case free and clear of all liens, encumbrances, claims and defects and imperfections of title except those that (i) do not materially interfere with the use made and proposed to be made of such property by the Company and its subsidiaries or (ii) could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

  • PURCHASE OF EQUIPMENT AND PERSONAL PROPERTY For valuable consideration, the sum of $1.00, receipt of which is acknowledged, Xxxxxx agrees to quitclaim, transfer, sell, waive and release any interest it has or may have, including as the beneficiary of any trust interest created by the provisions of The Book of Discipline of The United Methodist Church, and Xxxxx agrees to accept all of Seller’s title and interest, if any, in and to all of the properties and assets held by Xxxxxx United Methodist Church and relating to the Conference’s claim for itself, or on behalf of The United Methodist Church, of any beneficial right of any kind, including all proprietary rights and privileges of any kind or nature, whether arising by operation of law, trust, contract, property or other means to all tangible personal property owned as of the date of this Bill of Sale in the name of Xxxxxx United Methodist Church (including, without limitation, cash, bank accounts, accounts and notes receivable, deposits, prepaid items, contents, furnishings, equipment, tools, furniture, leasehold improvements, computer software, permits, licenses, authorizations, books, records, papers, securities, funds, goodwill, contracts, and other intangibles (hereinafter collectively, the "Personal Property") on the terms and conditions set forth in this Bill of Sale.

  • Valid Security Interest This Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Sold Property in favor of the Issuer, which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and purchasers from the Depositor.

  • Perfected Security Interest On the Closing Date, after giving effect to the filing of the FAA Filed Documents and the Financing Statements, Mortgagee shall have received a duly perfected first priority security interest in all of Owner's right, title and interest in the Aircraft, subject only to Permitted Liens.

  • Personal Property In addition to the real property described in Section II, the Seller shall include the following personal property: _ The real property in Section II and any personal property in Section III shall be collectively known as the “Property”.

  • Fixtures and Personal Property All machinery, equipment, fixtures (including, but not limited to all heating, air conditioning, plumbing, lighting, communications and elevator fixtures) and other property of every kind and nature whatsoever owned by Borrower, or in which Borrower has or shall have an interest, now or hereafter located upon the Land or the Improvements, or appurtenant thereto, and used in connection with the present or future operation and occupancy of the Land and the Improvements and all building equipment, materials and supplies of any nature whatsoever owned by Borrower, or in which Borrower has or shall have an interest, now or hereafter located upon the Land and the Improvements, or appurtenant thereto, or used in connection with the present or future operation and occupancy of the Land and the Improvements (collectively, the "Personal Property"), and the right, title and interest of Borrower in and to any of the Personal Property which may be subject to any security interests, as defined in the Uniform Commercial Code, as adopted and enacted by the state or states where any of the Property is located (the "Uniform Commercial Code"), superior in lien to the lien of this Security Instrument and all proceeds and products of the above;

  • 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.

  • Security Interest in the Collateral To secure the prompt payment and performance to Agent and each Lender of the Obligations, each Borrower hereby assigns, pledges and grants to Agent for its benefit and for the ratable benefit of each Lender a continuing security interest in and to and Lien on all of its Collateral, whether now owned or existing or hereafter acquired or arising and wheresoever located. Each Borrower shall xxxx its books and records as may be necessary or appropriate to evidence, protect and perfect Agent’s security interest and shall cause its financial statements to reflect such security interest. Each Borrower shall promptly provide Agent with written notice of all commercial tort claims, such notice to contain the case title together with the applicable court and a brief description of the claim(s). Upon delivery of each such notice, such Borrower shall be deemed to hereby grant to Agent a security interest and lien in and to such commercial tort claims and all proceeds thereof.

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