Titling Clause Samples

Titling. If any Item of Equipment is a vehicle or other equipment subject to a certificate of title statute, Borrower will promptly (a) take all steps requested by Lender to cause the security interest of Lender to be noted on the certificate of title, (b) provide Lender an original (or copy, if acceptable to Lender) of the certificate of title relating to such Item of Equipment, and (c) sign any other instruments or documents requested by Lender, including a power of attorney, to permit Lender to properly perfect and enforce its security interest in such Item of Equipment. Without limiting the foregoing, Borrower hereby authorizes and irrevocably appoints Lender as Borrower’s attorney-in-fact, with full power of substitution, coupled with an interest to execute motor vehicle title documentation necessary to obtain repossession title certificates and/or lien notation.

Titling. (a) With respect to each Seller Vehicle then owned by a Grantor, such Grantor shall, in the ordinary course of business (but in no event later than, subject to Section 5.15(c) of the Credit Agreement, the earlier of (i) one year after the Closing Date and (ii) the last day under the Vehicle Title Nominee Agreement by which such Seller Vehicle must be so retitled (such last day being, as of the Closing Date, six months after the Closing Date)), file an application for, and obtain, a certificate of title and a certificate of registration for such Seller Vehicle from each state or other jurisdiction in which such Seller Vehicle is required to be titled or registered, except to the extent such Seller Vehicle shall no longer be owned by such Grantor. (b) With respect to each New Vehicle, the applicable Grantor shall, as soon as reasonably practicable, file an application for, and obtain, a certificate of title and a certificate of registration for such New Vehicle from each state or other jurisdiction in which such New Vehicle is required to be titled or registered, provided that in no event shall such filing be made later than 14 days following the later of (i) the time of delivery to such Grantor of such New Vehicle and (ii) the payment by such Grantor of the purchase price for such New Vehicle. (c) The Grantors shall obtain all new certificates of title and registration for the Vehicles as required by applicable law. Certificates of title and registration for the Vehicles shall be obtained from the department or registry of motor vehicles or other relevant body in each state or other jurisdiction in which the Vehicles are required to be titled or registered. Each Grantor shall take such action as shall be necessary from time to time to avoid suspension, revocation or invalidation of any certificates of title, and to renew and maintain all certificates of registration, for the Vehicles. No Grantor shall operate any Vehicle, or permit any Vehicle to be operated, in such a manner as could cause any certificate of title or registration for such Vehicle to be suspended, revoked or invalidated or otherwise adversely affected.

Titling. (a) With respect to each Seller Vehicle then owned by a Grantor, such Grantor shall, in the ordinary course of business (but in no event later than October 17, 1997), file an application for a certificate of title and a certificate of registration for such Seller Vehicle from each state or other jurisdiction in which such Seller Vehicle is required to be titled or registered, except to the extent such Seller Vehicle shall no longer be owned by such Grantor. (b) With respect to each New Vehicle, the applicable Grantor shall, as soon as reasonably practicable, file an application for, and obtain, a certificate of title and a certificate of registration for such New Vehicle from each state or other jurisdiction in which such New Vehicle is required to be titled or registered, provided that in no event shall such filing be made later than 14 days following the later of (i) the time of delivery to such Grantor of such New Vehicle and (ii) the payment by such Grantor of the purchase price for such New Vehicle. (c) The Grantors shall obtain all new certificates of title and registration for the Vehicles as required by applicable law. Certificates of title and registration for the Vehicles shall be obtained from the department or registry of motor vehicles or other relevant body in each state or other jurisdiction in which the Vehicles are required to be titled or registered. Each Grantor shall take such action as shall be necessary from time to time to avoid suspension, revocation or invalidation of any certificates of title, and to renew and maintain all certificates of registration, for the Vehicles. No Grantor shall operate any Vehicle, or permit any Vehicle to be operated, in such a manner as could cause any certificate of title or registration for such Vehicle to be suspended, revoked or invalidated or otherwise adversely affected.

Titling. If requested by Secured Party, Customer shall cause Equipment subject to title registrations laws to be titled as directed by Secured Party. Customer shall advise Secured Party promptly as to any necessary re-titling. Debtor shall cause all documents of title to be furnished within sixty (60) days of the date of any titling effected by Customer.

Titling. If requested by BENSERON INFORMATION TECHNOLOGIES, INC. ®, Customer shall cause an Item of Collateral subject to title registration laws to be titled as directed by BENSERON INFORMATION TECHNOLOGIES, INC. ®. Customer shall advise BENSERON INFORMATION TECHNOLOGIES, INC. ® promptly as to any necessary retitling. Customer shall cause all documents of title to be furnished to BENSERON INFORMATION TECHNOLOGIES, INC. ® within sixty (60) days of the date on any titling done by Customer.

Titling. (a) With respect to each Initial Vehicle, ------- Lessee, acting as Lessor's agent, has filed an application for, and shall obtain (no later than October 17, 1997) a Certificate of Title (complying with the provisions of Section 12.4 hereof) and a certificate of registration for ------------ such Vehicle from each state or other jurisdiction in which such Vehicle is required to be titled or registered, except to the extent such Vehicle shall no longer be owned by Lessor. (b) With respect to each Subsequently Acquired Vehicle, pursuant to Section 12.4 hereof, the Lessee, acting as Lessor's agent, shall, as soon as ------------ reasonably practicable, file an application for, and obtain, a Certificate of Title (complying with the provisions of Section 12.4 hereof) and a certificate ------------ of registration for such Vehicle from each state or other jurisdiction in which such Vehicle is required to be titled or registered, provided that in no event shall such filing be made later than five (5) days following the Vehicle Lease Commencement Date. (c) Lessee, acting as Lessor's agent, shall take such action as shall be necessary from time to time to avoid suspension, revocation or invalidation of any Certificates of Title, and to renew and maintain all certificates of registration, for the Vehicles. The Lessee shall not operate any Vehicle, or permit any Vehicle to be operated, in such a manner as could cause any Certificate of Title or registration for such Vehicle to be suspended, revoked, invalidated or otherwise adversely affected.

Titling