Titled Equipment. If Borrower now or hereafter has any vehicles, aircraft, watercraft, or other Equipment for which a certificate of title has been issued by a Governmental Authority, the Borrower shall immediately deliver to the Bank, properly endorsed, each certificate of title or application for title or other evidence of ownership for each such item of Equipment, and the Borrower shall take all actions necessary to have the Bank's security interest properly recorded on each such certificate of title and shall take all other steps necessary to perfect the Bank's security interest in such Equipment.
Titled Equipment. (a) each Grantor shall complete, on or prior to the date that is 60 days following the Closing Date (or such later date as the Agent agrees in its sole discretion), all actions necessary in order to perfect the security interest of the Secured Parties in any Titled Equipment owned by a Grantor on the Closing Date, including (i) cause to be delivered to the applicable Governmental Authority a duly completed application, pay any applicable fees and take any other actions necessary in order to cause the certificate of title for such Titled Equipment at all times to be registered with the applicable Governmental Authority showing “Credit Suisse AG, Cayman Islands Branch, as Agent” as first lienholder thereon in the manner prescribed in the applicable jurisdiction (and Credit Suisse AG, Cayman Islands Branch in such capacity shall be the only first lienholder so registered), (ii) if necessary to perfect in any jurisdiction, cause the Lien of Agent to be identified on a notice of lien or other filing made in the appropriate filing office in the applicable jurisdiction and pay all applicable fees in connection therewith, (iii) provide Agent evidence reasonably satisfactory to it of the taking of the actions referred to in the preceding clauses (i) and (ii), and (iv) deliver the certificates of title for such Titled Equipment to Agent. Promptly following the receipt by any Grantor of any document evidencing official notification from the applicable Governmental Authority of the perfection of the security interest in any Titled Equipment (and in any event within five (5) Business Days thereof), such Grantor shall deliver such notification to Agent; provided, that no Grantor shall be required to take the actions described in this Section 4.07 in respect of Titled Equipment to the extent the fair market value of such Titled Equipment for which any such actions are not taken is less than $150,000.
Titled Equipment. (i) Upon the Collateral Agent’s written request, each Grantor shall deliver to the Collateral Agent originals of the certificates of title or ownership for each equipment with a value in excess of $10,000 owned by it (“Titled Equipment”), with the Collateral Agent listed as lienholder, for the ratable benefit of the Collateral Agent and the Noteholders.
Titled Equipment. At any time the fair market value of any single piece of Equipment (including, without limitation, vehicles) covered by a certificate of title owned by all of the Grantors exceeds $250,000, then the applicable Grantors shall deliver notice thereof to the Administrative Agent and, subject to the Intercreditor Agreement, deliver to the Administrative Agent, upon request, the original of any such Equipment title certificate and provide and/or file all other documents or instruments necessary to have the Lien of the Administrative Agent noted on any such certificate or with the appropriate state office.
Titled Equipment. The value of all vehicles, rolling stock and other Operating Equipment owned by the Borrower or any of its Restricted Subsidiaries as of the Effective Date and covered by certificates of title is not, in the aggregate, material to the Borrower and its Subsidiaries taken as a whole.
Titled Equipment. If selling titled Equipment, the Seller must provide RB Group with the original copy of each title in advance of RB Group making the Listing available on the SalvageSale Marketplace. RB Group will release the original title to the Buyer within fifteen (15) days of the Buyer being declared the winning bidder and after payment from the Buyer is received by RB Group. Not all transactions will result in a title transfer, and Buyers should review the Listing to determine whether a title transfer is applicable. In lieu of titles, certain transactions may result in the Seller providing a bill of sale to the Buyer. The Buyer is responsible for providing an executed document from the Buyer, executed by the Buyer and Seller, along with any other additional documentation which might be required, including, but not limited to, a fully executed equipment sales agreement and export documentation in order to obtain the bill of sale. Buyers are encouraged to review the Listing details to understand the necessary requirements which must be met before a bill of sale would be provided. RB Group may charge the Seller a title transfer fee equal to 50.00 per piece of Equipment requiring titles.
Titled Equipment. Each Grantor is the true, lawful, sole and exclusive owner of or otherwise has the right to use the Titled Equipment of such Grantor. All Titled Equipment that such Grantor owns or uses in connection with its business as of the Closing Date, or the date of the most recent update thereto, as applicable, with a fair market value (as determined in good faith by the Borrower) in excess of $150,000 is set forth on Schedule 8 to the Cumulative Perfection Certificate (including the vehicle identification numbers, state or province of registration, net book value and (in the case of any such Titled Equipment acquired after the Closing Date) the date of acquisition thereof). Upon (i) completion of the actions contemplated by Section 4.07 hereof (which actions have been taken, if this representation and warranty is being made after the date by which such actions are required to have been taken pursuant to Section 4.07 hereof) and (ii) if required for perfection under the law of the relevant jurisdiction, receipt by Agent of official notification from the applicable Governmental Authority of the perfection of the security interest in Titled Equipment contemplated hereby, all filings, registrations, recordings and other actions shall have been taken such that Titled Equipment shall be subject to the duly perfected security interest of Agent for the benefit of the Secured Parties. Such security interest shall be prior to any other Lien other than Permitted Liens.
Titled Equipment. The perfection of the security interest granted in Article 2 above in Titled Equipment will be required only with respect to any Titled Equipment that is not subject to a Permitted Titled Equipment Lien and that has a net book value on the date hereof or, if acquired after the date hereof or if any Titled Equipment previously subject to a Permitted Titled Equipment Lien is no longer subject to a Permitted Titled Equipment Lien, the date of acquisition or the date on which such Permitted Titled Equipment Lien is terminated, greater than or equal to $0. Furthermore, if at the end of any calendar quarter, commencing with the end of the calendar quarter ending on March 31, 2017, the security interest in any Titled Equipment has not been perfected, then within 60 days after the end of such calendar quarter, the Borrower shall cause the security interest in such items of Titled Equipment to be perfected.
Titled Equipment. 48 4.25 Acts of God.................................................................................... 49 4.26
Titled Equipment. Attached hereto as Schedule XII is a true and correct list of all motor vehicles or other titled equipment owned and/or leased to each Transaction Party.
