Marking of Equipment. The Borrower agrees that at or before the Closing Date, the Borrower shall affix and maintain on each Unit the reporting mxxx, if any, and identification number listed in the Loan and Security Agreement Supplement for such Unit and such other markings as from time to time may be required by law or to protect the interest of the Lender in such Units. In case any of such marks shall at any time be removed, defaced or destroyed before the termination of the Lien provided for herein, the Borrower shall promptly cause the same to be restored or replaced. The Borrower shall not change, or permit to be changed, the reporting mxxx of any of the Equipment at any time covered hereby (or any reporting mxxx which may have been substituted as herein provided) except in accordance with a statement of new reporting marks to be substituted therefor which shall be filed and recorded as provided in Section 7.13 hereof. The Equipment may be lettered with the name, initials or insignia of the Borrower, or of any Affiliate or any lessee of the Borrower which is permitted to use the Equipment as herein provided, or may be lettered in some other appropriate manner, for convenience of identification of the interest of the Borrower, or such Affiliate or lessee therein. Except as aforesaid, during the term of this Agreement, the Borrower shall not allow the name of any Person to be placed on any of the Equipment as a designation if the right, title and interest of the Lender therein would thereby be impaired or invalidated. The Lender shall, upon the Request of the Borrower, consent to the placing of the name of any specified Person upon any Unit as a designation if there shall have been delivered to the Lender an Opinion of Counsel to the effect that such designation will not impair or invalidate the right, title and interest of the Lender in or to such Unit.
Appears in 2 contracts
Samples: Loan and Security Agreement (Kansas City Southern), Loan and Security Agreement (Kansas City Southern De Mexico, S.A. De C.V.)
Marking of Equipment. The Borrower agrees that at or before the Closing Date, the Borrower shall affix and maintain on each Unit the reporting mxxxxxxx, if any, and identification number listed in the Loan and Security Agreement Supplement for such Unit and such other markings as from time to time may be required by law or to protect the interest of the Lender in such Units. In case any of such marks shall at any time be removed, defaced or destroyed before the termination of the Lien provided for hereinMexican Trust Agreement, the Borrower shall promptly cause the same to be restored or replaced. The Borrower shall not change, or permit to be changed, the reporting mxxx xxxx of any of the Equipment at any time covered hereby before the termination of the Mexican Trust Agreement (or any reporting mxxx xxxx which may have been substituted as herein provided) except in accordance with a statement of new reporting marks to be substituted therefor which shall be filed and recorded as provided in Section 7.13 hereof. The Equipment may be lettered with the name, initials or insignia of the Borrower, or of any Affiliate or any lessee of the Borrower which is permitted to use the Equipment as herein provided, or may be lettered in some other appropriate manner, for convenience of identification of the interest of the Borrower, or such Affiliate or lessee therein. Except as aforesaid, during the term of this Agreement, the Borrower shall not allow the name of any Person to be placed on any of the Equipment as a designation if the right, title and interest of the Lender Trustee therein would thereby be impaired or invalidated. The Lender shall, upon the Request of the Borrower, consent to the placing of the name of any specified Person upon any Unit as a designation if there shall have been delivered to the Lender an Opinion of Counsel to the effect that such designation will not impair or invalidate the right, title and interest of the Lender Trustee in or to such Unit.
Appears in 2 contracts
Samples: Loan Agreement (Kansas City Southern De Mexico, S.A. De C.V.), Loan Agreement (Kansas City Southern)
Marking of Equipment. The Borrower agrees that at If marking of one or before the Closing Date, the Borrower shall affix and maintain on each Unit the reporting mxxx, if any, and identification number listed in the Loan and Security Agreement Supplement for such Unit and such other markings as from time to time may be more units of Equipment is required by law or to properly protect the interest rights of the Lender Agent in and to the Equipment, the Debtor will, as soon as practicable after the determination that such Unitsmarking is so required, arrange for the marking of each such unit of the Equipment in the following manner: there shall be plainly, distinctly, permanently and conspicuously placed and fastened upon each side of each such unit a metal plate bearing the following words, or such words shall be otherwise plainly, distinctly, permanently and conspicuously marked on each side of such unit, in either case in letters not less than one inch in height: “THIS CAR IS MORTGAGED TO CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK, AS AGENT, UNDER A CREDIT AGREEMENT, CHATTEL MORTGAGE AND SECURITY AGREEMENT RECORDED UNDER SECTION 11303 OF THE INTERSTATE COMMERCE ACT AND UNDER SECTION 105 OF THE CANADA TRANSPORTATION ACT.” Such plates or marks shall be such as to be readily visible and as to indicate plainly the Agent’s interest in each unit of the Equipment. In case case, prior to the termination of this Agreement, any of such plates or marks shall at any time be removed, defaced or destroyed before the termination of the Lien provided for hereindestroyed, the Borrower Debtor shall promptly forthwith cause the same to be restored or replaced. The Borrower Debtor shall not change, or permit to be changed, the reporting mxxx identifying numbers (as set forth on Schedule A hereto (or in any supplement hereto) of any of the Equipment at any time covered hereby (or any reporting mxxx numbers which may have been substituted as herein provided) except in accordance with a statement of new reporting marks numbers to be substituted therefor which previously shall be have been filed with the Agent by the Debtor and also filed and recorded in like manner as provided in Section 7.13 hereofthis Agreement. The Equipment may shall be lettered with the name“SHQX”, initials “AMFX” or insignia of the Borrower, or of any Affiliate or any lessee of the Borrower which is permitted to use the Equipment as herein provided, or may be lettered in some other appropriate manner, manner for convenience of identification of the interest ownership by the Debtor thereof (the “Markings”), and may also be lettered in such manner as may be appropriate for convenience of identification of the Borrowerleasehold interests therein of any of the Lessees under any of the Leases and the Debtor shall not change any Markings without prior notice to the Agent and the filing of any required instruments with the Surface Transportation Board and the Register General of Canada in order to maintain the perfection of Agent’s security interest in the Collateral; provided, or such Affiliate or lessee therein. Except as aforesaidhowever, that the Debtor, during the term continuance of this Agreement, the Borrower shall will not allow the name of any Person person to be placed on any of the Equipment as a designation if which might be interpreted as a claim of ownership thereof by any person other than the rightDebtor, title and interest or as an indication of any lien or other encumbrance thereon (except the interests of the Lender therein would thereby be impaired or invalidated. The Lender shall, upon Lessees as aforesaid) other than the Request lien of this Agreement in favor of the Borrower, consent to the placing of the name of any specified Person upon any Unit as a designation if there shall have been delivered to the Lender an Opinion of Counsel to the effect that such designation will not impair or invalidate the right, title and interest of the Lender in or to such UnitAgent.
Appears in 1 contract
Samples: Credit Agreement (American Railcar Industries, Inc.)
Marking of Equipment. (a) The Borrower agrees that at shall cause the placement of reporting marks or before such other marks, legends, or placards on the Equipment as shall be appropriate or necessary to comply with any regulation imposed by the STB, the AAR or any equivalent authority. Immediately following the Closing Date, except with respect to the reporting marks which are the subject of the Car Xxxx Agreement, the Borrower shall affix and maintain on each Unit covenants to (or cause the Manager to) take all necessary action to change the UMLER designation associated with the reporting mxxx, if any, and identification marks relating to the Equipment so as to reflect the Borrower’s ownership of said marks immediately following the Closing Date. The Borrower will cause each Item of Equipment owned to be kept numbered with the road number listed in the Loan and Security Agreement Supplement for such Unit and such other markings serial number as shall be set forth on Schedule A hereto (as amended from time to time may be required by law or to protect the interest of the Lender in such Units. In case any of such marks shall at any time be removed, defaced or destroyed before the termination of the Lien provided for herein, the Borrower shall promptly cause the same to be restored or replaced. The Borrower shall not change, or permit to be changed, the reporting mxxx of any of the Equipment at any time covered hereby (or any reporting mxxx which may have been substituted as herein provided) except in accordance with a statement of new reporting marks to be substituted therefor which shall be filed and recorded as provided in Section 7.13 hereof. The Equipment may be lettered with the name, initials or insignia of the Borrower, or of any Affiliate or any lessee of the Borrower which is permitted to use the Equipment as herein provided, or may be lettered in some other appropriate manner, for convenience of identification of the interest of the Borrower, or such Affiliate or lessee thereintime). Except as aforesaid, during otherwise contemplated in the term of this Car Xxxx Agreement, the Borrower shall not allow the name of any other Person to be placed on any Item of the Equipment as a designation if the right, title and interest of the Lender therein would thereby that might be impaired or invalidated. The Lender shall, upon the Request of the Borrower, consent to the placing of the name identified as a claim of any specified Person upon interest therein; provided, however, that nothing herein contained shall prohibit the Borrower or any Unit as Equipment Lessee from placing its name, trademarks, initials, customary colors and other insignia on, or from naming, any Item of Equipment.
(b) The Borrower shall not change the identification number of any Item of Equipment unless and until a designation if there statement of a new number or numbers to be substituted therefor shall have been delivered to the Lender an Opinion of Counsel to Agent and filed, recorded and deposited by the effect that such designation will not impair Borrower in all appropriate public offices, including the public offices where this Security Agreement (or invalidate the righta memorandum thereof) shall have been filed, title recorded and interest of the Lender in or to such Unitdeposited.
Appears in 1 contract
Samples: Security Agreement (Andersons Inc)