Titled Vehicles Clause Samples
The "Titled Vehicles" clause defines the rules and responsibilities regarding vehicles that are legally registered and have a title document. It typically specifies which party owns, maintains, or insures such vehicles, and may outline procedures for transferring title or handling liens. This clause ensures clear ownership and legal compliance for vehicles involved in the agreement, helping to prevent disputes over possession or liability.
Titled Vehicles. Such Grantor will give the Collateral Agent notice of its acquisition of any vehicle covered by a certificate of title and deliver to the Collateral Agent, upon request, the original of any vehicle title certificate and provide and/or file all other documents or instruments necessary to have the Lien of the Collateral Agent noted on any such certificate or with the appropriate state office.
Titled Vehicles. Such Grantor will give the Administrative Agent notice of its acquisition of any vehicle covered by a certificate of title and deliver to the Administrative Agent, upon request, the original of any vehicle 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 Vehicles. The Grantor will give the Lender notice of its acquisition of any vehicle covered by a certificate of title and deliver to the Lender, upon request, the original of any vehicle title certificate and provide and/or file all other documents or instruments necessary to have the Lien of the Lender noted on any such certificate or with the appropriate state office.
Titled Vehicles. The Debtor will give the Agent notice of its acquisition of any vehicle covered by a certificate of title and deliver to the Agent, upon request, the original of any vehicle title certificate and do all things necessary to have the Lien of the Agent noted on any such certificate.
Titled Vehicles. Upon request, AMI shall (i) deliver to the Agent the original of any title certificate for any vehicle included at such time by AirNet in the calculation of the Borrowing Base and do all things necessary to have the Lien of the Agent noted on any such certificate, and (ii) give the Agent notice of its acquisition of any vehicle covered by a certificate of title included at such time by AirNet in the calculation of the Borrowing Base.
Titled Vehicles. Each Grantor will give the Administrative Agent notice of its ownership or acquisition of any vehicle covered by a certificate of title the book value of which, when taken together with all other vehicles covered by a certificate of title owned by any Grantor, exceeds $2,500,000 in the aggregate, and deliver to the Administrative Agent, upon reasonable request, the original of any vehicle title certificate and do all things necessary to have the security interest of the Administrative Agent noted on any such certificate to eliminate such excess.
Titled Vehicles. Upon request of the Lender, each Grantor shall promptly execute and deliver any instruments and documents that may be necessary or that the Lender may request in order to perfect the Security Interests in all property now or hereafter owned by such Grantor and subject to a certificate of title.
Titled Vehicles. The Borrower shall give the Lender notice of its acquisition of any vehicle covered by a certificate of title which would be classified as Equipment and deliver to the Lender, upon request, the original of any vehicle title certificate and do all things necessary to have the Lien of the Lender noted on any such certificate.
Titled Vehicles. If requested by the Agent, the Borrower will give the Agent notice of its acquisition of any vehicle covered by a certificate of title (other than a vehicle that is subject to a purchase money security interest permitted by Section 6.15 of the Credit Agreement) and deliver to the Agent, upon request, the original of any vehicle title certificate and do all things necessary to have the Lien of the Agent noted on any such certificate. So long as no Default shall have occurred and be continuing, upon the request of Borrower, the Agent shall execute and deliver to Borrower such instruments as Borrower shall reasonably request to remove any notation of the Agent as lienholder on any certificate of title for any vehicle; provided, that any such instruments shall be delivered, and the release effective, only upon receipt by the Agent of a certificate from Borrower, stating that the vehicle, the Lien on which is to be released, is to be sold in accordance with Section 4.1.5 or has suffered a casualty loss (with title thereto passing to the casualty insurance company therefor in settlement of the claim for such loss), and the amount that such Grantor will receive as sale proceeds or insurance proceeds.
Titled Vehicles. Except with respect to vehicles having an aggregate fair market value less than $500,000, the Grantors will deliver to the Collateral Agent, upon reasonable request, the original of any vehicle title certificate and provide and/or file all other documents or instruments necessary to have the Lien of the Collateral Agent noted on any such certificate or with the appropriate state office.