TITLE TO THE EQUIPMENT definition

TITLE TO THE EQUIPMENT. The rented “Equipment” (shall mean all equipment rented by Lessee and described on invoice) shall at all times remain and be the sole and exclusive property of Lessor, and Lessee shall have no right of property therein other than the right to use the Equipment upon the terms and conditions contained in this Agreement or the applicable Rental Agreement. Lessor may elect to file a Financing Statement (UCC-I) for informational purposes. IDENTIFICATION OF EQUIPMENT: Lessee will not change or remove any insignia, lettering or other identification which is now or hereafter placed on the Equipment indicating Lessor's ownership thereof, and at any time during the term of this rental/lease agreement, upon request of Lessor, Lessee will affix to Equipment in a prominent place, labels, plates, or other identification supplied by Lessor stating that the Equipment is owned by Lessor. LOCATION OF EQUIPMENT: During the term of this rental/lease agreement and until redelivery to Lessor, all Equipment shall be located at the address to which the Equipment is to be shipped as set forth on the reverse side hereof, and shall not be removed from such location without prior written notification & consent of Lessor. INSPECTION BY LESSEE: Lessee shall inspect the Equipment within twenty-four (24) hours after its arrival at the address set forth on the reverse side hereof. Unless within said twenty-four (24) hours (excluding weekends and holidays) Lessee gives written notice to Lessor specifying any defect in, or other proper objection to the Equipment, Lessee agrees that it shall be conclusively presumed as between Lessor and Lessee that Lessee has fully inspected the Equipment, that the Equipment is in full compliance with the terms of this rental/lease agreement, and in good condition and repair, and that Lessee is satisfied with, and has accepted the Equipment. If Lessor so requests, Lessee shall furnish Lessor with a written statement of the foregoing. INSPECTION BY LESSOR: Lessor and its representatives may inspect the Equipment at any time, except that no inspection shall be made (without Lessee's consent) under circumstances requiring interruption of Equipment use. Lessee shall have the privilege of having a joint inspection made of the Equipment before returning it to Lessor, to determine the need, if any, for repairs and reconditioning. If a joint inspection is not demanded Lessor shall be the sole judge of the need for repairs and reconditioning, the cost of which is to...
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Examples of TITLE TO THE EQUIPMENT in a sentence

  • THE LENDER MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE DIRECTLY OR INDIRECTLY, EXPRESS OR IMPLIED, AS TO THE EQUIPMENT OR ANY OTHER MATTER WHATSOEVER, INCLUDING WITHOUT LIMITATION, TITLE TO THE EQUIPMENT OR THE EQUIPMENT'S CONDITION, THE SUITABILITY OF THE EQUIPMENT, ITS DURABILITY, CAPACITY, OPERATION, PERFORMANCE, DESIGN, MATERIALS, WORKMANSHIP AND/OR QUALITY, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE.

  • SELLER MAKES NO WARRANTIES, EXPRESS OR IMPLIED, OF ANY KIND OR NATURE EXCEPT THAT (1) SELLER HAS GOOD TITLE TO THE EQUIPMENT, FREE AND CLEAR OF ALL LIENS, CLAIMS AND ENCUMBRANCES, (2) BUYER WILL ACQUIRE ITS INTEREST IN THE EQUIPMENT FREE FROM ALL LIENS, CLAIMS AND ENCUMBRANCES, AND (3) SELLER HAS THE RIGHT TO SELL AND CONVEY THE EQUIPMENT.

  • NOTWITHSTANDING THE FOREGOING, LESSOR OR ITS SUCCESSORS AND ASSIGNS REPRESENT AND WARRANT THAT IT OR THEY HAVE GOOD AND MERCHANTABLE TITLE TO THE EQUIPMENT AND CAN CONVEY SAME TO BUYER, FREE AND CLEAR OF ANY SUPERIOR LIEN OR INCUMBRANCE.

  • THE GRANTEE SHALL ACCEPT TITLE TO THE EQUIPMENT “AS IS”, WITHOUT RECOURSE OF ANY NATURE AGAINST THE GRANTOR FOR ANY CONDITION NOW OR HEREAFTER EXISTING.

  • THE SOLE PURPOSE OF THE TRUST IS TO ACQUIRE AND HOLD TITLE TO THE EQUIPMENT AND TO COLLECT AND CONSERVE THE VALUE THEREOF AND OF THE REMAINDER OF THE TRUST ESTATE, SUBJECT TO THE RIGHTS OF ADMINISTRATIVE AGENT, LENDERS AND LESSEE, FOR THE BENEFIT OF THE CERTIFICATE PURCHASERS.

  • LESSOR MAKES NO REPRESENTATIONS OR WARRANTIES, EITHER EXPRESS OR IMPLIED, AS TO ANY MATTER WHATSOEVER, INCLUDING, BUT NOT LIMITED TO, THE DESIGN, OPERATION, FITNESS OR CONDITION OF THE EQUIPMENT, ITS MERCHANTABILITY, SUITABILITY, QUALITY OR FITNESS FOR A PARTICULAR PURPOSE, THE QUALITY OF ANY MATERIALS OR THE WORKMANSHIP IN THE EQUIPMENT, OR THE TITLE TO THE EQUIPMENT, AND HEREBY DISCLAIMS ANY SUCH WARRANTIES.

  • LESSOR EXPRESSLY RETAINS OWNERSHIP AND TITLE TO THE EQUIPMENT, AS ALLOWED BY LAW.

  • THE GRANTEE SHALL ACCEPT TITLE TO THE EQUIPMENT “AS IS,” WITHOUT RECOURSE OF ANY NATURE AGAINST THE GRANTOR FOR ANY CONDITION NOW OR HEREAFTER EXISTING.

  • SELLER HEREBY INDEMNIFIES PURCHASER, ITS SUCCESSORS AND ASSIGNS, AGAINST ALL CLAIMS AND COSTS INCURRED IN THE DEFENSE OF TITLE TO THE EQUIPMENT AND/OR REMOVAL OF ANY CLAIMS OR ENCUMBRANCES AGAINST THE EQUIPMENT BY ANYONE CLAIMING BY OR THROUGH SELLER.

  • TITLE TO THE EQUIPMENT SUBJECT TO THIS LEASE IS RETAINED BY THE LESSOR, AND LESSEE COVENANTS THAT IT WILL NOT PLEDGE OR ENCUMBER THE EQUIPMENT IN ANY MANNER WHATSOEVER, NOR PERMIT ANY LIENS, CHARGES, OR ENCUMBRANCES TO ATTACH THERETO.