Common use of Title, Security Interest and Lien Clause in Contracts

Title, Security Interest and Lien. Dealer will cause an application for title of the Vehicle to be submitted to the appropriate government agency within the time periods required by applicable law, including, without limitation, the time periods necessary to prevent the avoidance of the lien in a bankruptcy proceeding of the applicable Buyer. Further, Dealer will take all steps necessary under applicable law to ensure that Company or its designee, as applicable, will have a valid and properly perfected first priority security interest in such Vehicle, and that such lien will be enforceable.

Title, Security Interest and Lien. Dealer will shall cause an application for title of the Vehicle to be submitted to the appropriate government agency within no later than (i) 20 days after the time periods required Contract is executed by applicable law, including, without limitationthe Buyer or (ii) if longer, the time periods period necessary to prevent the avoidance of the lien in a bankruptcy proceeding of the applicable Buyer. Further, Dealer will shall take all steps necessary under applicable law to ensure that Company or its designee, as applicable, will have a valid and properly perfected first priority security interest in such Vehicle, and that such lien will shall be enforceable.

Title, Security Interest and Lien. Dealer will shall cause an application for title of the Vehicle to be submitted to the appropriate government agency within no later than (i) the time periods period required by applicable law, including, without limitation, the such appropriate government agency or (ii) such shorter time periods period necessary to prevent the avoidance of the lien in a bankruptcy proceeding of the applicable Buyer. Further, Dealer will take all steps necessary under applicable law to shall ensure that Company or its designee, as applicable, will have a valid and properly perfected first priority security interest in such Vehicle, and that such lien will shall be enforceable.