Election to Retain Title Sample Clauses
The 'Election to Retain Title' clause allows one party, typically the seller or lender, to retain legal ownership of certain property or goods until specific conditions are met, such as full payment by the buyer. In practice, this means that even if the buyer takes possession or uses the goods, the seller remains the legal owner until the agreed obligations are fulfilled. This clause is commonly used in installment sales or secured transactions to protect the seller’s interest and reduce the risk of non-payment by ensuring they can reclaim the property if the buyer defaults.
Election to Retain Title. If the Owner Trust shall elect to ------------------------ retain title to the Vessel Interest pursuant to Section 18(e) of the Charter, the Owner Participant will cause the Owner Trust to perform its obligations under Section 18(e) in accordance with the terms thereof.
Election to Retain Title. If Owner Trustee shall elect or shall ------------------------ be deemed to have elected to retain title to the Transponders pursuant to Section 8(a) or 8(c) of the Lease, Owner Participant will make the required amount of funds available to Owner Trustee and will otherwise cause Owner Trustee to perform its obligations under such Section 8(a) or 8(c) in accordance with the terms thereof.
Election to Retain Title. If the Owner Trustee shall elect to ------------------------ retain title to the Facility Assets pursuant to Section 7.4 of the Lease, the Owner Participant will cause the Owner Trustee to perform its obligations under Section 7.4 in accordance with the terms thereof.
Election to Retain Title. If the Owner Trustee shall elect to ------------------------ retain title to the Vessel pursuant to Section 12(c) of the Charter, the Owner Participant will cause the Owner Trustee to perform its obligations under Section 12(c) in accordance with the terms thereof.