REGISTRATION AND TITLING Clause Samples

REGISTRATION AND TITLING. The Borrower shall cause all automobiles, trucks, tractors, trailers and other equipment which are owned by Borrower (including those acquired after the Closing Date) which, under applicable law, are required to be registered, to be properly registered in the name of the Borrower, and shall cause all automobiles, trucks, tractors, trailers and other equipment which are owned by Borrower (including those acquired after the Closing Date) the ownership of which, under applicable law, is evidenced by a certificate of title to be properly titled in the name of the Borrower and, at Agent's request upon the occurrence of an Event of Default, to have the Agent's interest therein properly noted on the certificate of title.

REGISTRATION AND TITLING. Dealer shall promptly register and title vehicles sold pursuant to a Contract or financed by the Credit Union in a manner sufficient to perfect in the Credit Union’s favor a valid and enforceable first priority security interest in the vehicle. Dealer shall promptly complete the necessary forms and documents at the time of sale and forward them together with the appropriate fees to those public officials who are responsible for issuing the certificate of title or registration. If a first priority security interest in the vehicle is not perfected within thirty (30) days of Contract consummation, Dealer shall accept reassignment of the Contract and pay the full amount of the unpaid balance under the Contract plus the Credit Union’s costs and expenses to the Credit Union upon demand.