Title to Future Equipment Sample Clauses

Title to Future Equipment a. The State acknowledges and agrees that the purchase of all Future Equipment will be made in the name of LEP, a Project SPE or Project SPE’s Trustee. b. Throughout the Term of the applicable Ancillary Agreement, LEP the Project SPE or Project SPE’s Trustee will retain legal title to all such Future Equipment as security for the State’s or the applicable State Entity’s obligations under such Ancillary Agreement (including payment of any Termination Fee that may be owed thereunder), notwithstanding the installation of that Future Equipment into a Covered Facility in connection with such Work.