Common use of Title to the Equipment Clause in Contracts

Title to the Equipment. During the Lease Term under each Lease, and so long as Lessee is either not in default under Article XII hereof or an Event of Non-appropriation has not occurred, all right, title and interest in and to each item of the Equipment under the related Lease shall be vested in Lessee immediately upon its acceptance of each item of Equipment, subject to the terms and conditions hereof and under the applicable Lease. Lessee shall at all times protect and defend, at its own cost and expense, its title, and Lessor’s first priority security interest, in and to the Equipment (and Lessor’s other Collateral as defined in Section 6.02 hereof) from and against all claims, liens and legal processes of its creditors, and keep all Equipment (and such other Collateral) free and clear of all such claims, liens and processes. Upon the occurrence of an Event of Default under a Lease or upon termination of a Lease pursuant to Section 3.03 hereof, full and unencumbered legal title to the Equipment shall, at Lessor’s option, pass to Lessor, and Lessee shall have no further interest therein. In addition, upon the occurrence of such an Event of Default or such termination, Lessee shall execute and deliver to Lessor such documents as Lessor may request to evidence the passage of such legal title to Lessor and the termination of Lessee’s interest therein, and upon request by Lessor shall deliver possession of the Equipment to Lessor in accordance with Section 3.03 or 12.02 of this Agreement, as applicable. Upon payment of all amounts due and owing under a Lease by Lessee in accordance with Section 10.01 hereof (including upon payment of all Rental Payments and other amounts payable under such Lease), Lessor’s security interest or other interest in the Equipment under such Lease shall terminate, and Lessor shall execute and deliver to Lessee such documents as Lessee may request to evidence the termination of Lessor’s security interest in the Equipment subject to the related Lease.

Title to the Equipment. During the Lease Term under each LeaseTerm, and so long as Lessee is either not in default under Article XII hereof or an Event of Non-appropriation has not occurredhereof, all right, title and interest in and to each item of the Equipment under the related Lease shall be vested in Lessee immediately upon its acceptance of each item of Equipment, subject to the terms and conditions hereof and under the applicable Leasehereof. Lessee shall at all times protect and defend, at its own cost and expense, its title, title in and to the Equipment and its senior pledge to Lessor of the Collateral and Lessor’s first priority security interest, in and to interest constituting a first Lien on the Equipment (and Lessor’s other Collateral as defined in Section 6.02 hereof) from and against all claims, liens Liens and legal processes of its creditors, and keep all Equipment (and such other Collateral) the Collateral free and clear of all such claims, liens Liens and processes. Lessee will, at its expense, do any further act and execute, acknowledge, deliver, file, register and record any further documents the Lessor may reasonably request in order to protect its senior pledge to Lessor of the Collateral and Xxxxxx’s first priority security interest in the Collateral. Upon the occurrence of an Event of Default under a Lease or upon termination of a Lease this Agreement pursuant to Section 3.03 hereof, full and unencumbered legal title to the Equipment shall, at Lessor’s option, pass to Lessor, and Lessee shall have no further interest therein. In addition, upon the occurrence of such an Event of Default or such termination, Lessee shall execute and deliver to Lessor such documents as Lessor may request to evidence the passage of such legal title to Lessor and the termination of LesseeXxxxxx’s interest therein, and upon request by Lessor shall deliver possession of the Equipment to Lessor in accordance with Section 3.03 or 12.02 of this Agreement, as applicable. Upon payment of all amounts due and owing under a Lease hereunder by Lessee in accordance with pursuant to Section 10.01 hereof (including upon payment of all Rental Payments and other amounts payable under such Lease)hereof, Lessor’s security interest or other interest interests in the Equipment under such Lease shall terminate, and Lessor shall execute and deliver to Lessee such documents as Lessee may request to evidence the termination of Lessor’s security interest interests in the Equipment subject to the related LeaseEquipment.

Title to the Equipment. During the Lease Term under each LeaseTerm, and so long as Lessee is either not in default under Article XII hereof or and an Event of Non-appropriation has not occurred, all right, title and interest in and to each item of the Equipment under the related Lease shall be vested in Lessee immediately upon its acceptance of each item of Equipment, subject to the terms and conditions hereof and under the applicable Leasehereof. Lessee shall at all times protect and defend, at its own cost and expense, its title, and and, subject to Section 12.02(e) hereof, Lessor’s first priority security interest, in and to the Equipment (and Lessor’s other Collateral as defined in Section 6.02 hereof) from and against all claims, liens Liens and legal processes of its creditors, and keep all Equipment (and such other Collateral) free and clear of all such claims, liens Liens and processes. Lessee will, at its expense, do any further act and execute, acknowledge, deliver, file, register and record any further documents the Lessor may reasonably request in order to protect Xxxxxx’s first priority security interest in the Collateral. Upon the occurrence of an Event of Default under a Lease or upon termination of a Lease this Agreement pursuant to Section 3.03 hereof, full and unencumbered legal title to the Equipment shall, at Lessor’s option, pass to Lessor, and Lessee shall have no further interest therein. In addition, upon the occurrence of such an Event of Default or such termination, Lessee shall execute and deliver to Lessor such documents as Lessor may request to evidence the passage of such legal title to Lessor and the termination of LesseeXxxxxx’s interest therein, and upon request by Lessor shall deliver possession of the Equipment to Lessor in accordance with Section 3.03 or 12.02 of this Agreement, as applicable. Upon payment of all amounts due and owing under a Lease hereunder by Lessee Xxxxxx in accordance with Section 10.01 hereof (including upon payment of all Rental Payments and other amounts payable under such Lease)hereof, LessorXxxxxx’s security interest or other interest in the Equipment under such Lease shall terminate, and Lessor shall execute and deliver to Lessee such documents as Lessee may reasonably request to evidence the termination of Lessor’s security interest in the Equipment subject to the related LeaseEquipment.

Title to the Equipment. During the Lease Term under each LeaseTerm, and so long as Lessee is either not in default under Article XII hereof or an Event of Non-appropriation has not occurredhereof, all right, title and interest in and to each item of the Equipment under the related Lease shall be vested in Lessee immediately upon its acceptance of each item of Equipment, subject to the terms and conditions hereof and under the applicable Leasehereof. Lessee shall at all times protect and defend, at its own cost and expense, its title, title in and to the Equipment and its senior pledge to Lessor of the Collateral and Lessor’s first priority security interest, in and to interest constituting a first Lien on the Equipment (and Lessor’s other Collateral as defined in Section 6.02 hereof) from and against all claims, liens Liens and legal processes of its creditors, and keep all Equipment (and such other Collateral) the Collateral free and clear of all such claims, liens Liens and processes. Lessee will, at its expense, do any further act and execute, acknowledge, deliver, file, register and record any further documents the Lessor may reasonably request in order to protect its senior pledge to Lessor of the Collateral and Lessor’s first priority security interest in the Collateral. Upon the occurrence of an Event of Default under a Lease or upon termination of a Lease this Agreement pursuant to Section 3.03 hereof, full and unencumbered legal title to the Equipment shall, at Lessor’s option, pass to Lessor, and Lessee shall have no further interest therein. In addition, upon the occurrence of such an Event of Default or such termination, Lessee shall execute and deliver to Lessor such documents as Lessor may request to evidence the passage of such legal title to Lessor and the termination of Lessee’s interest therein, and upon request by Lessor shall deliver possession of the Equipment to Lessor in accordance with Section 3.03 or 12.02 of this Agreement, as applicable. Upon payment of all amounts due and owing under a Lease hereunder by Lessee in accordance with pursuant to Section 10.01 hereof (including upon payment of all Rental Payments and other amounts payable under such Lease)hereof, Lessor’s security interest or other interest interests in the Equipment under such Lease shall terminate, and Lessor shall execute and deliver to Lessee such documents as Lessee may request to evidence the termination of Lessor’s security interest interests in the Equipment subject to the related LeaseEquipment.

Title to the Equipment. During the Lease Term under each LeaseTerm, and so long as Lessee is either not in default under Article XII hereof or an Event of Non-appropriation has not occurredhereof, all right, title and interest in and to each item of the Equipment under the related Lease shall be vested in Lessee immediately upon its acceptance of each item of Equipment, subject to the terms and conditions hereof and under the applicable Leasehereof. Lessee shall at all times protect and defend, at its own cost and expense, its title, title in and to the Equipment and Lessor’s first priority security interest, in and to interest constituting a first Lien on the Equipment (and Lessor’s other Collateral as defined in Section 6.02 hereof) from and against all claims, liens Liens and legal processes of its creditors, and keep all Equipment (and such other Collateral) the Collateral free and clear of all such claims, liens Liens and processes. Lessee will, at its expense, do any further act and execute, acknowledge, deliver, file, register and record any further documents the Lessor may reasonably request in order to protect Lessor’s first priority security interest in the Collateral. Upon the occurrence of an Event of Default under a Lease or upon termination of a Lease this Agreement pursuant to Section 3.03 hereof3.03, full and unencumbered legal title to the Equipment shall, at Lessor’s option, pass to Lessor, and Lessee shall have no further interest therein. In addition, upon the occurrence of such an Event of Default or such termination, Lessee shall execute and deliver to Lessor such documents as Lessor may request to evidence the passage of such legal title to Lessor and the termination of Lessee’s interest therein, and upon request by Lessor shall deliver possession of the Equipment to Lessor in accordance with Section 3.03 or 12.02 of this Agreement12.02, as applicable. Upon payment of all amounts due and owing under a Lease hereunder by Lessee in accordance with pursuant to Section 10.01 hereof (including upon payment of all Rental Payments and other amounts payable under such Lease)10.01, Lessor’s security interest or other interest in the Equipment under such Lease shall terminate, and Lessor shall execute and deliver to Lessee such documents as Lessee may reasonably request to evidence the termination of Lessor’s security interest in the Equipment subject to the related LeaseEquipment.

Title to the Equipment. During the each Lease Term under each LeaseTerm, and so long as Lessee is either not in default under Article XII hereof or an Event of Non-appropriation has not occurredhereof, all right, title and interest in and to each item of the Equipment under the related Lease shall be vested in Lessee immediately upon its acceptance of each item of Equipment, subject to the terms and conditions hereof and under of the applicable Lease. Lessee shall at all times protect and defend, at its own cost and expense, its title, and Lessor’s first priority security interest, title in and to the Equipment (and Lessor’s other Collateral as defined in Section 6.02 hereof) from and against all claims, liens and legal processes of its creditors, and keep all Equipment (and such other Collateral) free and clear of all such claims, liens and processes. Upon the occurrence of an Event of Default under a Lease or upon termination of a Lease pursuant to Section 3.03 3.04 hereof, full and unencumbered legal title to the Equipment shall, at Lessor’s option, shall pass to Lessor, and Lessee shall have no further interest therein. In addition, upon the occurrence of such an Event of Default or such termination, Lessee shall execute and deliver to Lessor such documents as Lessor may request to evidence the passage of such legal title to Lessor and the termination of LesseeXxxxxx’s interest therein, and upon request by Lessor shall deliver possession of the Equipment to Lessor in accordance with Section 3.03 or 12.02 of this Agreement, as applicable12.02. Upon payment purchase of all amounts due and owing the Equipment under a Lease by Lessee in accordance with pursuant to Section 10.01 hereof (including upon payment of all Rental Payments and other amounts payable under such Lease)10.01, Lessor’s security interest or other interest in the Equipment under such Lease shall terminate, and Lessor shall execute and deliver to Lessee such documents as Lessee may request to evidence the termination of Lessor’s security interest in the Equipment subject to the related Lease. Pursuant to the terms and conditions stated in the RFP solicitation, equipment titles or other related ownership documents shall be returned to the State within ten (10) business days from receipt of payment by the State. Automobile titles held as collateral shall be made available to the State for routine tag changes as required. Any requested title shall be received by the State within five (5) business days of written receipt.

Title to the Equipment. During the Lease Term under each LeaseTerm, and so long as Lessee is either not in default under Article XII hereof or and an Event of Non-appropriation has not occurred, all right, title and interest in and to each item of the Equipment under the related Lease shall be vested in Lessee immediately upon its acceptance of each item of Equipment, subject to the terms and conditions hereof and under the applicable Leasehereof. Lessee shall at all times protect and defend, at its own cost and expense, its title, and LessorXxxxxx’s first priority security interest, in and to the Equipment (and Lessor’s other Collateral as defined in Section 6.02 hereof) from and against all claims, liens Liens and legal processes of its creditors, and keep all Equipment (and such other Collateral) free and clear of all such claims, liens Liens and processes. Lessee will, at its expense, do any further act and execute, acknowledge, deliver, file, register and record any further documents the Lessor may reasonably request in order to protect Xxxxxx’s first priority security interest in the Collateral. Upon the occurrence of an Event of Default under a Lease or upon termination of a Lease this Agreement pursuant to Section 3.03 hereof, full and unencumbered legal title to the Equipment shall, at Lessor’s option, pass to Lessor, and Lessee shall have no further interest therein. In addition, upon the occurrence of such an Event of Default or such termination, Lessee shall execute and deliver to Lessor such documents as Lessor may request to evidence the passage of such legal title to Lessor and the termination of LesseeXxxxxx’s interest therein, and upon request by Lessor shall deliver possession of the Equipment to Lessor in accordance with Section 3.03 or 12.02 of this Agreement, as applicable. Upon payment of all amounts due and owing under a Lease hereunder by Lessee Xxxxxx in accordance with Section 10.01 hereof (including upon payment of all Rental Payments and other amounts payable under such Lease)hereof, LessorXxxxxx’s security interest or other interest in the Equipment under such Lease shall terminate, and Lessor shall execute and deliver to Lessee such documents as Lessee may reasonably request to evidence the termination of Lessor’s security interest in the Equipment subject to the related LeaseEquipment.

Title to the Equipment. During the Lease Term under each LeaseTerm, and so long as Lessee is either not in default under Article XII hereof or an Event of Non-appropriation has not occurredhereof, all right, title and interest in and to each item of the Equipment under the related Lease shall be vested in Lessee immediately upon its acceptance of each item of Equipment, subject to the terms and conditions hereof and under the applicable Leasehereof. Lessee shall at all times protect and defend, at its own cost and expense, its title, title in and to the Equipment and Lessor’s first priority security interest, in and to interest constituting a first Lien on the Equipment (and Lessor’s other Collateral as defined in Section 6.02 hereof) from and against all claims, liens Liens and legal processes of its creditors, and keep all Equipment (and such other Collateral) the Collateral free and clear of all such claims, liens Liens and processes. Lessee will, at its expense, do any further act and execute, acknowledge, deliver, file, register and record any further documents the Lessor may reasonably request in order to protect Xxxxxx’s first priority security interest in the Collateral. Upon the occurrence of an Event of Default under a Lease or upon termination of a Lease this Agreement pursuant to Section 3.03 hereof, full and unencumbered legal title to the Equipment shall, at Lessor’s option, pass to Lessor, and Lessee shall have no further interest therein. In addition, upon the occurrence of such an Event of Default or such termination, Lessee shall execute and deliver to Lessor such documents as Lessor may request to evidence the passage of such legal title to Lessor and the termination of LesseeXxxxxx’s interest therein, and upon request by Lessor shall deliver possession of the Equipment to Lessor in accordance with Section 3.03 or 12.02 of this Agreement, as applicable. Upon payment of all amounts due and owing under a Lease hereunder by Lessee Xxxxxx in accordance with Section 10.01 hereof (including upon payment of all Rental Payments and other amounts payable under such Lease)hereof, LessorXxxxxx’s security interest or other interest in the Equipment under such Lease shall terminate, and Lessor shall execute and deliver to Lessee such documents as Lessee may reasonably request to evidence the termination of Lessor’s security interest in the Equipment subject to the related LeaseEquipment.

Title to the Equipment. During the Lease Term under each Lease, and so long as Lessee is either not in default under Article XII hereof or an Event of Non-appropriation has not occurred, all right, title and interest in and to each item of the Equipment under the related Lease shall be vested in Lessee immediately upon its acceptance of each item of Equipment, subject to the terms and conditions hereof and under the applicable Lease. Lessee shall at all times protect and defend, at its own cost and expense, its title, and Lessor’s first priority security interest, in and to the Equipment (and Lessor’s other Collateral as defined in Section 6.02 hereof) from and against all claims, liens and legal processes of its creditors, and keep all Equipment (and such other Collateral) free and clear of all such claims, liens and processes. Upon the occurrence of an Event of Default under a Lease or upon termination of a Lease pursuant to Section 3.03 hereof, full and unencumbered legal title to the Equipment shall, at Lessor’s option, pass to Lessor, and Lessee shall have no further interest therein. In addition, upon the occurrence of such an Event of Default or such termination, Lessee shall execute and deliver to Lessor such documents as Lessor may request to evidence the passage of such legal title to Lessor and the termination of Lessee’s interest therein, and upon request by Lessor shall deliver possession of the Equipment to Lessor in accordance with Section 3.03 or 12.02 of this Agreement, as applicable. Upon payment of all amounts due and owing under a Lease by Lessee in accordance with Section 10.01 hereof (including upon payment of all Rental Payments and other amounts payable under such Lease), Lessor’s security interest or other interest in the Equipment under such Lease shall terminate, and Lessor shall execute and deliver to Lessee such documents as Lessee may request to evidence the termination of Lessor’s security interest in the Equipment subject to the related Lease.interest