Common use of Title to the Equipment Clause in Contracts

Title to the Equipment. During the Lease Term, title to the Equipment and any and all additions, repairs, replacements or modifications will vest in Lessee, subject to the rights of Lessor under this Agreement; provided that title will thereafter immediately and without any action by Lessee vest in Lessor, and Lessee will immediately surrender possession of the Equipment to Lessor upon (a) any termination of this Agreement other than termination pursuant to Section 31 or (b) the occurrence of an Event of Default. It is the intent of the parties hereto that any transfer of title to Lessor pursuant to this Section will occur automatically without the necessity of any xxxx of sale, certificate of title or other instrument of conveyance. Lessee will, nevertheless, execute and deliver any such instruments as Lessor may request to evidence such transfer. Lessee irrevocably designates, makes, constitutes and appoints Lessor and its assignee as Lessee’s true and lawful attorney (and agent in-fact) with power, at such time of termination or times thereafter as Lessor in its sole and absolute discretion may determine, in Lessee’s or Lessor’s or such assignee’s name, to endorse the name of Lessee upon any xxxx of sale, document, instrument, invoice, freight xxxx, xxxx of lading or similar document relating to the Equipment in order to vest title in Lessor and transfer possession to Lessor.

Title to the Equipment. (a) During the Lease Term, title to the Equipment and any and all additions, repairs, replacements or modifications will vest in Lessee, subject to the rights of Lessor under this Agreement, and further subject to subparagraphs (b) and (c) of this Section 18; provided that title will thereafter immediately and without any action by Lessee vest in Lessor, and Lessee Xxxxxx will immediately surrender possession of the Equipment to Lessor upon (ai) any termination of this Agreement other than termination pursuant to Section 31 or (bii) the occurrence of an Event of Default. It is the intent of the parties hereto that any transfer of title to Lessor pursuant to this Section will occur automatically without the necessity of any xxxx bill of sale, certificate of title or other instrument of conveyance. Lessee will, nevertheless, execute and deliver any such instruments as Lessor may request to evidence such transfer. Lessee irrevocably designates, makes, constitutes and appoints Lessor and its assignee as LesseeXxxxxx’s true and lawful attorney (and agent agent-in-fact) with power, at such time of termination or times thereafter as Lessor in its sole and absolute discretion may determine, in LesseeXxxxxx’s or Lessor’s or such assignee’s name, to endorse the name of Lessee upon any xxxx bill of sale, document, instrument, invoice, freight xxxxbill, xxxx bill of lading or similar document relating to the Equipment in order to vest title in Lessor and transfer possession to Lessor.

Title to the Equipment. (a) During the Lease Term, title to the Equipment and any and all additions, repairs, replacements or modifications will vest in Lessee, subject to the rights of Lessor under this Agreement, and further subject to subparagraphs (b) and (c) of this Section 18; provided that title will thereafter immediately and without any action by Lessee vest in Lessor, and Lessee will immediately surrender possession of the Equipment to Lessor upon (ai) any termination of this Agreement other than termination pursuant to Section 31 or (bii) the occurrence of an Event of Default. It is the intent of the parties hereto that any transfer of title to Lessor pursuant to this Section will occur automatically without the necessity of any xxxx of sale, certificate of title or other instrument of conveyance. Lessee will, nevertheless, execute and deliver any such instruments as Lessor may request to evidence such transfer. Lessee irrevocably designates, makes, constitutes and appoints Lessor and its assignee as Lessee’s true and lawful attorney (and agent agent-in-fact) with power, at such time of termination or times thereafter as Lessor in its sole and absolute discretion may determine, in Lessee’s or Lessor’s or such assignee’s name, to endorse the name of Lessee upon any xxxx of sale, document, instrument, invoice, freight xxxx, xxxx of lading or similar document relating to the Equipment in order to vest title in Lessor and transfer possession to Lessor.

Title to the Equipment. During the Lease Term, title to the Equipment and any and all additions, repairs, replacements or modifications will vest in Lessee, subject to the rights of Lessor under this Agreement; provided that title will thereafter immediately and without any action by Lessee vest in Lessor, and Lessee will immediately surrender possession of the Equipment to Lessor upon (a) any termination of this Agreement other than termination pursuant to Section 31 10.01 or (b) the occurrence of an Event of Default. It is the intent of the parties hereto that any transfer of title to Lessor pursuant to this Section will occur automatically without the necessity of any xxxx of sale, certificate of title or other instrument of conveyance. Lessee will, nevertheless, execute and deliver any such instruments as Lessor may request to evidence such transfer. Lessee Lessee, irrevocably designates, makes, constitutes and appoints Lessor and its assignee as Lessee’s true and lawful attorney (and agent in-fact) with power, at such time of termination or times thereafter as Lessor in its sole and absolute discretion may determine, in Lessee’s or Lessor’s or such assignee’s name, to endorse the name of Lessee upon any xxxx of sale, document, instrument, invoice, freight xxxx, xxxx of lading or similar document relating to the Equipment in order to vest title in Lessor and transfer possession to Lessor.