Common use of TITLE/TAXES Clause in Contracts

TITLE/TAXES. The Debtor has good and marketable title to the Collateral and will warrant and defend it against all claims. The Debtor will not transfer, sell, or lease the Collateral (except for sales of inventory in the ordinary course of business). The Debtor agrees to pay promptly all taxes and assessments upon or for the use of the Collateral and on this Agreement. At its option, the Secured Party may discharge taxes, liens, security interests or other encumbrances at any time levied or placed on the Collateral. The Debtor agrees to reimburse the Secured Party, on demand, for any such payment made by the Secured Party. Any amounts so paid shall be added to the Brightstar Obligations and be secured hereunder, and shall bear interest payable by the Debtor at the annual rate of eighteen percent per annum (18% p.a.).

TITLE/TAXES. The Debtor has good and marketable title to the Collateral and will warrant and defend it against all claims. The Debtor will not transfer, sell, or lease the Collateral (except for sales of inventory in the ordinary course of business). The Debtor agrees to pay promptly all taxes and assessments upon or for the use of the Collateral and on this Agreement. At its option, the Secured Party may discharge taxes, liens, security interests or other encumbrances at any time levied or placed on the Collateral. The Debtor agrees to reimburse the Secured Party, on demand, for any such payment made by the Secured Party. Any amounts so paid shall be added to the Brightstar Obligations relating to the Collateral owned by any Debtor and be secured hereunder, and shall bear interest payable by the Debtor at the annual rate of eighteen percent per annum (18% p.a.).

TITLE/TAXES. The Debtor has good and marketable title to the Collateral and will warrant and defend it against all claims. The Debtor will not transfer, sell, or lease the Collateral (except for sales of inventory in the ordinary course of business). The Debtor agrees to pay promptly all taxes and assessments upon or for the use of the Collateral and on this Agreement. At its option, the Secured Party may discharge taxes, liens, security interests or other encumbrances at any time levied or placed on the Collateral. The Debtor agrees to reimburse the Secured Party, on demand, for any such payment made by the Secured Party. Any amounts so paid shall be added to the Brightstar Foreign Subsidiary Obligations and be secured hereunder, and shall bear interest payable by the Debtor at the annual rate of eighteen percent per annum (18% p.a.).