Financed Equipment Clause Samples

Financed Equipment. The Servicer is hereby authorized to take such steps as are necessary to re-perfect such security interest on behalf of the Issuing Entity and the Indenture Trustee in the event of the relocation of the Financed Equipment or for any other reason.
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Financed Equipment. (A) Not more than 50% of the Receivables, measured by federal income tax basis, are secured by Financed Equipment consisting of land, buildings, structural components thereof or other inherently permanent structures within the meaning of Treasury Regulation Section 1.856-3(d) or interests therein within the meaning of Treasury Regulation Section 1.856-3(c), (B) the Financed Equipment does not consist of aircraft and (C) the Financed Equipment is located outside of the State of Florida.
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Financed Equipment. (i) the lien of the Hedge Documents (including this Agreement) in and to the Financed Equipment is subordinate to the lien of the Letter of Credit Documents in and to the Financed Equipment; (ii) the lien of the Revolving Credit Documents (including this Agreement) in and to the Financed Equipment is subordinate to the liens of the Letter of Credit Documents; and (iii) the lien of the Letter of Credit Documents in and to the Financed Equipment shall be deemed to be prior and senior to both the lien of the Hedge Documents in and to the Financed Equipment, and the lien of the Revolving Credit Documents in and to the Financed Equipment; and
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Financed Equipment. The term "Financed Equipment" shall have the meaning assigned to such term in the first recital clause of this Agreement.
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Financed Equipment. The Financed Equipment does not, and with respect to Subsequent Receivables will not, consist of land, buildings, structural components thereof or other inherently permanent structures within the meaning of Treasury Regulation Section 1.856-3(d).
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Related to Financed Equipment

  • 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 Financed Vehicles Immediately prior to the transfer of the Receivables by the Depositor to the Trust, each Receivable was secured by a valid, binding and enforceable first priority perfected security interest in favor of the Seller in the related Financed Vehicle, or all necessary and appropriate actions shall have been commenced that would result in the valid perfection of a first priority security interest in favor of the Seller in the Financed Vehicle, which security interest has been validly assigned by the Seller to the Depositor pursuant to the Receivables Purchase Agreement and by the Depositor to the Trust hereunder.

  • Maintenance of Security Interests in Financed Equipment The Servicer shall, in accordance with its customary servicing procedures, take such steps as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Equipment. The Servicer is hereby authorized to take such steps as are necessary to re-perfect such security interest on behalf of the Issuing Entity and the Indenture Trustee in the event of the relocation of the Financed Equipment or for any other reason.

  • Security Interest in Financed Vehicle Immediately prior to the sale, transfer and assignment thereof pursuant hereto and the First Step Receivables Assignment, each Receivable was secured by a validly perfected first priority security interest in the Financed Vehicle in favor of the Seller as secured party or all necessary and appropriate action had been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of the Seller as secured party.

  • Stored equipment We accept no responsibility for any stored equipment or other property brought on to or left at the premises, and all liability for loss or damage is hereby excluded. All equipment and other property (other than stored equipment) must be removed at the end of each hiring or we will charge fees each day or part of a day at the hire fee per hiring until the same is removed. We may, in our discretion, dispose of any items referred to below by sale or otherwise on such terms and conditions as we think fit, and charge you any costs we incur in storing and selling or otherwise disposing of the same, in any of the following circumstances: (i) your failure either to pay any charges in respect of stored equipment due and payable or to remove the same within seven days after the agreed storage period has ended (ii) your failure to dispose of any property brought on to the premises for the purposes of the hiring.