VEHICLE TITLE. Title to the Vehicles and all equipment delivered to SHRCO under this lease shall remain in STTC or its designee. SHRCO shall, at all times, at its sole cost, keep the Vehicles and related equipment free and clear from all liens, encumbrances, levies, attachments or other judicial process from every cause whatsoever, (other than a claimant through an act of STTC), and shall give STTC immediate written notice thereof and shall indemnify and hold STTC harmless from any loss or damage, including attorneys' fees, caused thereby.
VEHICLE TITLE. Owner agrees to transfer Owner’s certificate of title and related Vehicle ownership documentation to Shift. Upon execution of this Agreement, and transfer of title and related documentation to Shift, Shift shall have the sole and exclusive rights to the Vehicle and may, in its sole and absolute discretion, market and facilitate its subsequent sale to any Buyer. If the Vehicle is subject to any loan, note, security agreement or other similar lending agreement or interest of any nature (each, a “Loan”), Owner has disclosed such Loan to Shift and shall promptly provide Shift with a payoff information statement (the “Payoff Information Statement”) containing all relevant bank information and Loan details, including at a minimum: ● Maturity Date - the date upon which any Loan must be paid in full ● Principal Amount Outstanding - total principal amount remaining outstanding on any Loan ● Payoff Amount (if different from Principal Amount Outstanding) - payment amount required by bank or lending institution to satisfy any Loan and fully release all associated liens on vehicle (the “Loan Payoff Amount”) ● Payoff Statement Expiration Date - date upon which the above information contained in the Payoff Information Statement will no longer be accurate or complete ● Bank Payment Information - Name of the bank or lending institution holding the Loan, as well as applicable contact information, address and payment account information (including routing and account numbers) Shift may arrange for or otherwise facilitate the payoff of any amounts still owed in connection with any Loan. All amounts owed in connection with the Loan must be paid off completely, including any fees or charges incurred in connection with discharging the Loan, prior to transfer of ownership of the Vehicle to Shift. Notwithstanding anything to the contrary contained in this Agreement, any amounts paid or expenses incurred by Shift to discharge any Loan shall be subtracted from amounts otherwise due to Owner under this Agreement. Owner agrees to sign any and all documentation required to release all prior liens or other encumbrances and transfer ownership of the Vehicle upon sale of the Vehicle to Shift.
VEHICLE TITLE. For non-financed vehicles, Shift will send the vehicle title with appropriate signatures evidencing the transfer of legal ownership to Lithia within five (5) business days of receiving the Acquisition Price and Shift service fee from Lithia. For financed vehicles, Shift will facilitate the loan payoff and lien release, then will send the vehicle title with appropriate signatures evidencing the transfer of legal ownership to Lithia within approximately fifteen (15) business days (subject to extension based on lender delays outside Shift’s reasonable control) of receiving the Acquisition Price and Shift service fee from Lithia.
VEHICLE TITLE. Title to the Vehicles and all equipment delivered to CUSTOMER under this VLSA shall remain in PENSKE TRUCK LEASING or its designee. CUSTOMER shall, at all times, at its sole cost, keep the Vehicles and related equipment free and clear from all liens, encumbrances, levies, attachments or other judicial process from every cause whatsoever, (other than a claimant through an act of PENSKE TRUCK LEASING), and shall give PENSKE TRUCK LEASING immediate written notice thereof and shall indemnify and hold PENSKE TRUCK LEASING harmless from any loss or damage, including attorneys' fees, caused thereby.
VEHICLE TITLE. With respect to the Private Party/Person to Person Purchase Program, as described in Exhibit A1, any Vehicle described in the Loan Documents, title to which is required to be evidenced by a certificate of title issued by the state motor vehicle division or agency, or any other bureau, agency or jurisdiction, shall (a) have valid certificates of title issued thereof for which E-LOAN shall apply or cause to be made, evidencing each Borrower's ownership of the Vehicle and that WFS's lien to secure payment of the Loan is noted on such title as a valid, first lien on the Vehicle; and (b) that such Vehicle will be covered by valid, effective physical damage insurance at the time of the closing of the Loan (as evidenced by a valid insurance card or binder or other similar proof of insurance); and (c) E-LOAN agrees to furnish evidence of the application for title with WFS shown as loss payee at the time of disbursement of the Loan proceeds; and (d) the certificate of title showing WFS as the lienholder shall be forwarded to WFS by E-LOAN or state DMV, as the case may be, within one hundred and twenty (120) days from the date of the Loan.
VEHICLE TITLE. The hirer acknowledges that the lessor retains title to the Vehicle and its contents. The hirer does not have any right to pledge the lessor’s credit in connection with the Vehicle and agrees not to do so. The hirer shall not agree, attempt, offer or purport to sell, assign, sublet, lend, pledge, mortgage, let on hire, or otherwise part with or attempt to part with the personal possession of or otherwise deal with the Vehicle.
VEHICLE TITLE. ▪ Title must include all pages, front and back, to confirm vehicle eligibility with signatures to confirm proper transfer of ownership to the dealership. ▪ If the scrapped vehicle is 15 year or older from the current year, the vehicle title may not be available. If the vehicle does not have a title and is older than 15 years, alternative proof of ownership, like a bill of sale, will be required. o Bill of Sale ▪ Bill of Sale must show proper transfer of the vehicle to the dealership. o For New vehicle sales only, also submit: ▪ Full, complete, signed, and executed legible copy of the purchase or lease agreement, including. • Leases must be for a term of 24 months or longer to be eligible for the incentive. ▪ Vehicle registration – A complete and signed application for registration of new vehicle must be included with the Program application as proof of registration and must meet these requirements: • The registered owner name/lessee matches the name on the State Incentive Program incentive application and on the final purchase agreement/lease. • The vehicle must be registered in Vermont. o For Used vehicle sales only, also submit: ▪ MileageSmart Used EV Incentive Program Commitment Letter/Email (for applicants participating in the MileageSmart Program) ▪ Purchase/Lease Agreement (for applicants ineligible for MileageSmart Program) See Tables 1 and 2 on following page for eligible incentive amounts by tax filing status and adjusted gross income.
