Common use of Title; Security Interest Clause in Contracts

Title; Security Interest. Title to the Materials will pass to Buyer when payment of the purchase price is made in full. Until such time, the Materials will remain personal property (regardless of attachment to realty), and Seller will have a security interest and the right, at its discretion, to file a UCC-1 Financing Statement or equivalent to perfect its security interest.

Title; Security Interest. Title to the Materials materials will pass to Buyer when payment of the purchase price is made in full. Until such time, the Materials materials will remain personal property (regardless of attachment to realty), and Seller will have a security interest and the right, at its discretion, to file a UCC-1 Financing Statement or equivalent to perfect its security interest.