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.
(ii) Each Grantor hereby appoints the Collateral Agent as its attorney-in-fact for the purpose of (A) executing on behalf of such Grantor title or ownership applications for filing with appropriate Governmental Authorities to enable Titled Equipment now owned or hereafter acquired by such Grantor to be retitled and the Collateral Agent listed as lienholder thereof, (B) filing such applications with such Governmental Authorities, and (C) executing such other agreements, documents and instruments on behalf of, and taking such other action in the name of, such Grantor as the Collateral Agent may deem necessary or advisable to accomplish the purposes hereof (including, without limitation, for the purpose of creating in favor of the Collateral Agent a perfected Lien on the Titled Equipment and exercising the rights and remedies of the Collateral Agent hereunder). This appointment as attorney-in-fact is coupled with an interest and is irrevocable until all of the Obligations are fully performed and Paid in Full.
(iii) Any certificates of title or ownership delivered pursuant to the terms hereof shall be accompanied by accurate odometer statements for each Titled Equipment covered thereby.
(iv) So long as no Event of Default shall have occurred and be continuing, upon the request of any Grantor, the Collateral Agent shall execute and deliver to any Grantor such instruments as such Grantor shall reasonably request to remove the notation of the Collateral Agent as lienholder on any certificate of title for any Titled Equipment; provided, however, that any such instruments shall be delivered, and the release effective, only upon receipt by the Collateral Agent of a certificate from any Grantor stating that such Titled Equipment is to be sold or has suffered a casualty loss (with title thereto in such case passing to the casualty insurance company therefor in settlement of the claim for such loss) and the amount that any Grantor will receive as sale proceeds or insurance proceeds. Any proceeds of such sale or casualty loss shall be paid to the Collateral Agent hereunder immediately upon receipt, to be applied to the O...
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. 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. Seller agrees and acknowledges that pursuant to the Standard Terms, Seller hereby appoints IronPlanet as its attorney-in-fact with a limited power of attorney (“LPOA”) to execute on Sellers’s behalf, all documents necessary and required to transfer title to, and permit registration of ownership of, any portion of the Equipment to the Buyer; provided, however, if original titles or a notarized LPOA are required by state or local regulation to transfer title, Seller shall provide IronPlanet with either, as applicable, (i) signed original titles or (ii) a notarized LPOA and unsigned original titles at least two weeks prior to the Listing Opening Time. Failure to provide title(s) and/or an LPOA as required will prevent the Equipment being made available for sale on the Site until such documentation is provided. Titles shall be sent to: IronPlanet, Inc., Attn: Title Specialist, 0000 Xxxxxxx Xxxx, Xxx. 000, Xxxxxxxxxx, XX 00000. Phone: 000-000-0000.
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.
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. For each item of Collateral, the ownership of, or title to, which is evidenced by a certificate of title (the “Titled Equipment”), the Debtor shall list the jurisdiction in which each such item of Titled Equipment is registered or titled, and the vehicle identification number, or other appropriate serial number relating thereto, on Attachment A-1 to Exhibit A. Upon the occurrence of an Event of Default, the Debtor shall cause the lien of the Administrative Agent on such Titled Equipment to be noted on the certificate of title relating thereto. Thereafter, Debtor will, at all times, (i) maintain the registration and titling of each item of Titled Equipment in the jurisdiction set forth with respect thereto on Attachment A-1 to Exhibit A and (ii) cause the lien of the Administrative Agent on each item of Titled Equipment to be noted on the certificate of title relating thereto.
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
