Motor Vehicles. (i) Upon the Collateral Agent’s written request, each Grantor shall deliver to the Collateral Agent originals of the certificates of title or ownership for each motor vehicle with a value in excess of $10,000 owned by it, with the Collateral Agent listed as lienholder, for the benefit of the Noteholders.
(ii) Each Grantor hereby appoints the Collateral Agent as its attorney-in-fact, effective the date hereof and terminating upon the termination of this Agreement, for the purpose of (A) executing on behalf of such Grantor title or ownership applications for filing with appropriate Governmental Authorities to enable motor vehicles now owned or hereafter acquired by such Grantor to be retitled and the Collateral Agent listed as lienholder thereof, (B) filing such applications with such Governmental Authorities, and (C) executing such other agreements, documents and instruments on behalf of, and taking such other action in the name of, such Grantor as the Collateral Agent may deem necessary or advisable to accomplish the purposes hereof (including, without limitation, for the purpose of creating in favor of the Collateral Agent a perfected Lien on the motor vehicles and exercising the rights and remedies of the Collateral Agent hereunder). This appointment as attorney-in-fact is coupled with an interest and is irrevocable until all of the Obligations are Paid in Full.
(iii) Any certificates of title or ownership delivered pursuant to the terms hereof shall be accompanied by odometer statements for each motor vehicle covered thereby.
(iv) So long as no Event of Default shall have occurred and be continuing, upon the request of any Grantor, the Collateral Agent shall execute and deliver to any Grantor such instruments as such Grantor shall reasonably request to remove the notation of the Collateral Agent as lienholder on any certificate of title for any motor vehicle; provided, however, that any such instruments shall be delivered, and the release effective, only upon receipt by the Collateral Agent of a certificate from any Grantor stating that such motor vehicle is to be sold or has suffered a casualty loss (with title thereto in such case passing to the casualty insurance company therefor in settlement of the claim for such loss) and the amount that any Grantor will receive as sale proceeds or insurance proceeds. Any proceeds of such sale or casualty loss shall be paid to the Collateral Agent hereunder immediately upon receipt, to be applied to the Obligation...
Motor Vehicles. Each Debtor shall, promptly upon acquiring same, cause the Secured Party to be listed as the lienholder on each certificate of title or ownership covering any items of Equipment, including Motor Vehicles, having a value in excess of $50,000 individually or in the aggregate for all such items of Equipment of the Debtor, or otherwise comply with the certificate of title or ownership laws of the relevant jurisdiction issuing such certificate of title or ownership in order to properly evidence and perfect Secured Party’s security interest in the assets represented by such certificate of title or ownership.
Motor Vehicles a) It is an express condition of employment by the Company that all employees hold and/ or maintain a current Australian Drivers licence. The Company, at its discretion, may terminate the employment of an employee who does not hold, loses or fails to maintain a current Australian Drivers licence where such an employee is required as part of his/her duties to hold such a licence.
b) A copy of each employee’s current Australian Drivers licence must be forwarded by the individual employee(s) to the Company on a three monthly basis, or otherwise as requested.
c) A company vehicle (where applicable) may be provided for use during the performance of duties on behalf of the Company. Due to Australian Taxation Office requirements this vehicle is not permitted to be used for private purposes, other than driving to and from the first and last call of each day.
d) Drivers of Company vehicles are not to drive when they are unlicensed or when they are under the influence of alcohol or other drugs. Drivers will be subject to immediate dismissal should this occur.
e) A Fuel Card may be supplied for purchases of fuel and oil only. All dockets are to be received by the Company by Wednesday following the date of purchase.
f) No alterations or modifications are to be made to the Company vehicle without the express permission of the Company.
g) The vehicle is to be kept clean and serviced. Maintenance is to be carried out in accordance with the Log Book or as recommended by the selling dealer during the warranty period or the garage nominated by the Company.
h) It is the driver’s responsibility to operate and park the Company vehicle in a legal manner. The driver of the vehicle will be responsible for the payment of any traffic infringements incurred.
i) If a company vehicle is involved in an infringement whereby the driver is not identified (eg speed or red light camera), it will be referred to the employee to whom the vehicle is assigned. For this reason no other person should be permitted to drive the vehicle. In the unavoidable event that another person be required to drive the vehicle, such use should be noted and is the responsibility of the individual to whom the vehicle is assigned.
j) No person other than an employee of the Company shall be permitted to drive the Company vehicle, without the express permission of the Company.
k) Where a company vehicle is involved in an accident and the driver proven to be at fault, that driver will be responsible for the payment of ...
Motor Vehicles. Upon the request of the Collateral Agent, each Pledgor shall deliver to the Collateral Agent originals of the certificates of title or ownership for the motor vehicles (and any other Equipment covered by certificates of title or ownership) owned by it, with the Collateral Agent listed as lienholder therein. Such requirement shall not apply if any such motor vehicle (or any such other Equipment) is valued at less than $100,000; provided that the aggregate value of all motor vehicles (and such Equipment) as to which any Pledgor has not delivered a certificate of title or ownership is less than $10,000,000.
Motor Vehicles. 7.4.1 All freight and landing charges shall be paid by employing Boards both ways.
7.4.2 Teachers who transport their own vehicles to the Chatham Islands and Pitt Island shall receive an extra vehicle allowance of $2,739 per annum.
Motor Vehicles. Attached hereto as Schedule 15 is a true and correct list of all motor vehicles and other goods (covered by certificates of title or ownership) valued at over $50,000 and owned by each Company, and the owner and approximate value of such motor vehicles.
Motor Vehicles. Certificates of title, or such other instruments of assignment as may be necessary to transfer title to the Motor Vehicles, if any, to Purchaser at Closing.
Motor Vehicles. Upon the request of the Administrative Agent, each Pledgor shall deliver to the Administrative Agent originals of the certificates of title or ownership for the motor vehicles (and any other Equipment covered by Certificates of Title or ownership) owned by it with the Administrative Agent listed as lienholder therein. Such requirement shall apply to the Pledgors if any such motor vehicle (or any such other Equipment) is valued at over $50,000.
Motor Vehicles. Each Debtor shall, promptly upon the request of the Secured Party or its Representative, cause the Secured Party to be listed as the lienholder on each certificate of title or ownership covering any items of Equipment, including Motor Vehicles.
Motor Vehicles. The following is a complete list of all motor vehicles owned by the Borrower (describe each vehicle by make, model and year and indicate for each the state in which registered and the state in which based):
