Common use of Ownership and Security Interest Clause in Contracts

Ownership and Security Interest. Title to the Equipment shall remain at all times exclusively vested in Strad. Equipment shall at all times be properly marked as the property of Strad. Lessee covenants and agrees that it shall not remove, modify, alter or in any way deface Strad’s trade name, markings or serial numbers that appear on, or are located on the Equipment. Lessee grants Strad authority to file a UCC financing statement to protect its interest in the Equipment. To secure Xxxxxx’s obligations, Lessee grants to Strad a continuing security interest in any interest Lessee has in the Equipment, in all proceeds thereof (including proceeds of insurance) and in any rental payments receivable on any sublease Strad permits. Xxxxxx agrees Strad has all rights of a secured party under the Uniform Commercial Code of any applicable jurisdiction in addition to any other rights Strad possesses under applicable law. To the extent the Rental Contract creates a security interest, such security interest is a purchase-money security interest (as “security interest” and “purchase-money security interest” are used by Applicable Laws).

Ownership and Security Interest. Title to the Equipment shall remain at all times exclusively vested in Strad. Equipment shall at all times be properly marked as the property of Strad. Lessee covenants and agrees that it shall not remove, modify, alter or in any way deface Strad’s trade name, markings or serial numbers that appear on, or are located on the Equipment. Lessee grants Strad authority to file a UCC financing statement to protect its interest in the Equipment. To secure XxxxxxLessee’s obligations, Lessee grants to Strad a continuing security interest in any interest Lessee has in the Equipment, in all proceeds thereof (including proceeds of insurance) and in any rental payments receivable on any sublease Strad permits. Xxxxxx Lessee agrees Strad has all rights of a secured party under the Uniform Commercial Code of any applicable jurisdiction in addition to any other rights Strad possesses under applicable law. To the extent the Rental Contract creates a security interest, such security interest is a purchase-money security interest (as “security interest” and “purchase-money security interest” are used by Applicable Lawsin applicable law).

Ownership and Security Interest. Title to the Equipment Product shall remain at all times exclusively vested in StradSentient. Equipment Product shall at all times be properly marked as the property of StradSentient. Lessee covenants and agrees that it shall not remove, modify, alter or in any way deface StradSentient’s trade name, markings or serial numbers that appear on, or are located on the EquipmentProduct. Lessee grants Strad Sentient authority to file a UCC financing statement to protect its interest in the EquipmentProduct. To secure XxxxxxLessee’s obligations, Lessee grants to Strad Sentient a continuing security interest in any interest Lessee has in the EquipmentProduct, in all proceeds thereof (including proceeds of insurance) and in any rental payments receivable on any sublease Strad Sentient permits. Xxxxxx Lessee agrees Strad Sentient has all rights of a secured party under the Uniform Commercial Code of any applicable jurisdiction in addition to any other rights Strad Sentient possesses under applicable law. To the extent the Rental Contract creates a security interest, such security interest is a purchase-money security interest (as “security interest” and “purchase-money security interest” are used by Applicable Laws)shall be similarly interpreted under analogous applicable legislation.

Ownership and Security Interest. Title to the Equipment shall remain at all times exclusively vested in Strad. Equipment shall at all times be properly marked as the property of Strad. Lessee covenants and agrees that it shall not remove, modify, alter or in any way deface Strad’s trade name, markings or serial numbers that appear on, or are located on the Equipment. Lessee grants Strad authority to file a UCC financing statement to protect its interest in the Equipment. To secure XxxxxxLessee’s obligations, Lessee grants to Strad a continuing security interest in any interest Lessee has in the Equipment, in all proceeds thereof (including proceeds of insurance) and in any rental payments receivable on any sublease Strad permits. Xxxxxx Lessee agrees Strad has all rights of a secured party under the Uniform Commercial Code of any applicable jurisdiction in addition to any other rights Strad possesses under applicable law. To the extent the Rental Contract creates a security interest, such security interest is a purchase-money security interest (as “security interest” and “purchase-money security interest” are used by Applicable Laws).