Common use of Liens and Title Clause in Contracts

Liens and Title. a) Buyer hereby grants to seller a security interest in any property owned by the buyer (including buyer’s beneficial rights to property leased by seller) in the possession of seller or any of sellers’ affiliates, at any time, to secure all amounts owed by buyer to seller under this Agreement. b) In the case of repairs or overhauls performed pursuant to this Agreement, buyer grants seller a perfected security interest in all products retained in possession of seller upon which any repair or overhaul services have been performed by seller. Xxxxx further acknowledges and agrees that, in addition to the security interest and lien expressly granted by buyer to seller, seller shall have a lien on the product retained in possession of seller to the extent otherwise provided by law. Buyer acknowledges that the lien (whether granted by buyer or through the operation of law) for repairs or overhaul shall be for the full value of such work, and shall be superior to any lien or interest in favor of buyer, its parents, affiliates, or subsidiaries, or any other person who has knowledge of this Agreement. To the extent that seller maintains possession of product under repair, buyer agrees that seller is a secured creditor of buyer and has all the rights of a secured creditor. c) With respect to products sold pursuant to this Agreement, buyer agrees and acknowledges that seller shall retain a security interest in such product, unless and until all payment for such products has been made and all other covenants and agreements of this Agreement have been performed in full. Accordingly, buyer agrees that it will not suffer or permit any lien or encumbrance to be established that effects the title to the product sold by seller pursuant hereto until seller has been paid in full. Xxxxx agrees that, in the event of buyer’s insolvency, or in the event that any petition is filed by or against buyer under Chapter 7 or Chapter 11 of the Bankruptcy Code, seller may, at its discretion, recover all products sold pursuant to this Agreement and/or seek damages or costs under applicable laws.

Liens and Title. a) Buyer hereby grants to seller a security interest in any property owned by the buyer (including buyer’s beneficial rights to property leased by seller) in the possession of seller or any of sellers’ affiliates, at any time, to secure all amounts owed by buyer to seller under this Agreement. b) In the case of repairs or overhauls performed pursuant to this Agreement, buyer grants seller a perfected security interest in all products retained in possession of seller upon which any repair or overhaul services have been performed by seller. Xxxxx further acknowledges and agrees that, in addition to the security interest and lien expressly granted by buyer to seller, seller shall have a lien on the product retained in possession of seller to the extent otherwise provided by law. Buyer acknowledges that the lien (whether granted by buyer or through the operation of law) for repairs or overhaul shall be for the full value of such work, and shall be superior to any lien or interest in favor of buyer, its parents, affiliates, or subsidiaries, or any other person who has knowledge of this Agreement. To the extent that seller maintains possession of product under repair, buyer agrees that seller is a secured creditor of buyer and has all the rights of a secured creditor. c) With respect to products sold pursuant to this Agreement, buyer agrees and acknowledges that seller shall retain a security interest in such product, unless and until all payment for such products has been made and all other covenants and agreements of this Agreement have been performed in full. Accordingly, buyer agrees that it will not suffer or permit any lien or encumbrance to be established that effects the title to the product sold by seller pursuant hereto until seller has been paid in full. Xxxxx Buyer agrees that, in the event of buyer’s insolvency, or in the event that any petition is filed by or against buyer under Chapter 7 or Chapter 11 of the Bankruptcy Code, seller may, at its discretion, recover all products sold pursuant to this Agreement and/or seek damages or costs under applicable laws.

Liens and Title. a(A) Buyer Customer hereby grants to seller EZF a security interest in any property owned by the buyer Customer (including buyerCustomer’s beneficial rights to property leased by sellerCustomer) in the possession of seller EZF or any of sellersEZFs’ affiliates, at any time, to secure all amounts owed by buyer Customer to seller EZF under this AgreementOrder. b(B) In the case of repairs or overhauls performed pursuant to this AgreementOrder, buyer grants seller Customer agrees to grant EZF a perfected security interest in all products Products retained in possession of seller EZF upon which any repair or overhaul services have been performed by sellerEZF. Xxxxx Customer further acknowledges and agrees that, in addition to the security interest and lien expressly granted by buyer Customer to sellerEZF, seller EZF shall have a lien on the product Product retained in possession of seller EZF to the extent otherwise provided by law. Buyer Customer acknowledges that the lien (whether granted by buyer Customer or through the operation of law) for repairs or overhaul shall be for the full value of such work, and shall be superior to any lien or interest in favor of buyerCustomer, its parents, affiliates, or subsidiaries, or any other person who has knowledge of this AgreementOrder. To the extent that seller EZF maintains possession of product Product under repair, buyer Customer agrees that seller EZF is a secured creditor of buyer Customer and has all the rights of a secured creditor. c(C) With respect to products Product sold pursuant to this AgreementOrder, buyer Xxxxxxxx agrees and acknowledges that seller EZD shall retain a security interest in such productProduct, unless and until all payment for such products Product has been made and all other covenants and agreements of this Agreement Order have been performed in full. Accordingly, buyer Customer agrees that it will not suffer or permit any lien or encumbrance to be established that effects the title to the product Product sold by seller EZF pursuant hereto until seller EZF has been paid in full. Xxxxx Customer agrees that, in the event of buyerCustomer’s insolvency, or in the event that any petition is filed by or against buyer Customer under Chapter 7 or Chapter 11 of the Bankruptcy Code, seller EZF may, at its discretion, recover all products Products sold pursuant to this Agreement Order and/or seek damages or costs under applicable laws.

Liens and Title. a) Buyer hereby grants to seller Seller a security interest in any property owned by the buyer Buyer (including buyerXxxxx’s beneficial rights to property leased by sellerSeller) in the possession of seller Seller or any of sellersSellers’ affiliates, at any time, to secure all amounts owed by buyer Buyer to seller Seller under this Agreement. b) In the case of repairs or overhauls performed pursuant to this Agreement, buyer Buyer grants seller Seller a perfected security interest in all products retained in possession of seller Seller upon which any repair or overhaul services have been performed by sellerSeller. Xxxxx further acknowledges and agrees that, in addition to the security interest and lien expressly granted by buyer Xxxxx to sellerSeller, seller Seller shall have a lien on the product retained in possession of seller Seller to the extent otherwise provided by law. Buyer acknowledges that the lien (whether granted by buyer Xxxxx or through the operation of law) for repairs or overhaul shall be for the full value of such work, and shall be superior to any lien or interest in favor favour of buyerBuyer, its parents, affiliates, or subsidiaries, or any other person who has knowledge of this Agreement. To the extent that seller Seller maintains possession of product under repair, buyer Xxxxx agrees that seller Seller is a secured creditor of buyer Buyer and has all the rights of a secured creditor. c) With respect to products sold pursuant to this Agreement, buyer Xxxxx agrees and acknowledges that seller Seller shall retain a security interest in such product, unless and until all payment for such products has been made and all other covenants and agreements of this Agreement have been performed in full. Accordingly, buyer Xxxxx agrees that it will not suffer or permit any lien or encumbrance to be established that effects the title to the product sold by seller Seller pursuant hereto until seller Seller has been paid in full. Xxxxx agrees that, in the event of buyerXxxxx’s insolvency, or in the event that any petition is filed by or against buyer Buyer under Chapter 7 or Chapter 11 of the Bankruptcy Code, seller Seller may, at its discretion, recover all products sold pursuant to this Agreement and/or seek damages or costs under applicable laws.

Liens and Title. a(A) Buyer hereby grants to seller GE Aviation a first priority security interest in any property owned by the buyer Buyer (including buyerBuyer’s beneficial rights to property leased by sellerBuyer) in the possession of seller GE Aviation or any of sellers’ GE Aviation’s affiliates, at any timetime (together with all proceeds, products, rents, replacements, additions, accessions, substitutions and profits of or from any and all of the foregoing and, to the extent not otherwise included, all payments under insurance, or any indemnity, warranty or guaranty payable by reason of loss or damage to or otherwise with respect to any of the foregoing), to secure all amounts owed by buyer Buyer to seller GE Aviation under this Agreementthe Order, including, without limitation, the amount of all sums and expenses (including, without limitation, reasonable attorneys’ fees, court costs and collection, legal and receivers’ expenses) advanced or incurred by GE Aviation in connection with the protection of the security interests herein granted (collectively, the “Secured Obligations”). b(B) In the case of repairs or overhauls performed pursuant to this AgreementOrder, buyer grants seller Xxxxx agrees to xxxxx XX Aviation a perfected security interest in all products Product retained in possession of seller GE Aviation upon which any repair or overhaul services have been performed by sellerGE Aviation. Xxxxx further acknowledges and agrees that, in addition to the security interest and lien expressly granted by buyer Xxxxx to sellerGE Aviation, seller GE Aviation shall have a lien on the product Product retained in possession of seller GE Aviation to the extent otherwise provided by law. Buyer acknowledges that the lien (whether granted by buyer Xxxxx or through the operation of law) for repairs or overhaul shall be for the full value of such work, and shall be superior to any lien or interest in favor of buyerBuyer, its parents, affiliates, or subsidiaries, or any other person who has knowledge of this AgreementOrder. To the extent that seller GE Aviation maintains possession of product Product under repair, buyer Xxxxx agrees that seller GE Aviation is a secured creditor of buyer Buyer and has all the rights of a secured creditor. c) With respect to products sold pursuant to this Agreement, buyer agrees and acknowledges that seller shall retain a security interest in such product, unless and until all payment for such products has been made and all other covenants and agreements of this Agreement have been performed in full. Accordingly, buyer agrees that it will not suffer or permit any lien or encumbrance to be established that effects the title to the product sold by seller pursuant hereto until seller has been paid in full. Xxxxx agrees that, in the event of buyer’s insolvency, or in the event that any petition is filed by or against buyer under Chapter 7 or Chapter 11 of the Bankruptcy Code, seller may, at its discretion, recover all products sold pursuant to this Agreement and/or seek damages or costs under applicable laws.