Titled Asset means a motor vehicle, boat, recreational vehicle, camper, trailer, motorcycle, all-terrain vehicle or other asset for which, under applicable State law, a certificate of title is issued and any security interest therein is required to be perfected by notation on such certificate of title.
Titled Asset means an automobile, light-duty truck, SUV or van for which, under applicable state law, a certificate of title is issued and any security interest therein is required to be perfected by notation on such certificate of title or recorded with the relevant Governmental Authority that issued such certificate of title.
Examples of Titled Asset in a sentence
There is no State in which any Loan Party has based any Titled Assets (except for Titled Assets in transit) other than (i) those States listed on Schedule 5.26 and (ii) any other States in the continental United States, which have been given in writing to Agent as promptly as practicable and in no event more than twenty (20) Business Days after such Titled Asset has become located in such State.
In the event that the Certificates of Title are delivered to Agent or its designee in accordance with this Section 4.21(c), Agent or such designee shall so hold such Certificates of Title and shall, unless Agent reasonably objects to such release, release any Certificates of Title to Borrowing Agent for any Titled Asset that is subject to a pending sale in accordance with Section 7.1(b) of this Agreement; provided that no Default or Event of Default shall exist or be continuing.
More Definitions of Titled Asset
Titled Asset means a motor vehicle, boat, recreational vehicle, camper, trailer, motorcycle, all-terrain vehicle or other asset for which, under applicable State law, a certificate of title is issued and any security interest therein is required to be perfected by notation on such certificate of title. “Top State” means, for any date of determination, the State that has the highest concentration of Single State Originated Receivables on such date. “Top Three States” means, for any date of determination, the three States that have the highest concentrations of Single State Originated Receivables on such date. “Transition Expenses” has the meaning given to such term in Section 7.12(d). “UCC” means the Uniform Commercial Code as from time to time in effect in the applicable jurisdiction. “Unadjusted Benchmark Replacement” means the Benchmark Replacement excluding the Benchmark Adjustment. “United States” or “U.S.” means the United States of America. “Unmatured Event of Default” means any event that, with the giving of notice or the lapse of time, or both, would become an Event of Default. “Unrestricted Cash or Cash Equivalents” means Cash or Cash Equivalents which are not subject to any Liens or control agreements. “Unsecured Receivable” means a Receivable that is, as of the date of the origination thereof, not secured by any collateral or secured by non-Titled Assets pursuant to the terms of the applicable Contract. “Unused Commitment Fee” means, for any Interest Period during the Revolving Period, the fee payable by the Borrower pursuant to the Fee Letter on the related Payment Date in an amount equal to product of (i) the Unused Commitment Fee Rate, (ii) an amount equal to the average daily Aggregate Commitment during such Interest Period minus the average daily Loans Outstanding during such Interest Period and (iii) a fraction, the numerator of which is the actual number of days during such Interest Period and the denominator of which is 360. “Unused Commitment Fee Rate” has the meaning given to such term in the Fee Letter. “Upfront Fee Letter” means the fee letter, dated as of the Closing Date, among Midtown, the Borrower and the Servicer, setting forth the upfront fee payable to the Administrative Agent for the Lenders on the Closing Date. “Utilization Make-Whole Fee” shall have the meaning given to such term in the Fee Letter.
Titled Asset means a motor vehicle, boat, titled trailer or other asset for which, under applicable State law, a certificate of title is issued and any security interest therein is required to be perfected by notation on such certificate of title or recorded with the relevant Governmental Authority that issued such certificate of title.
Titled Asset means a motor vehicle, trailer or other asset for which under applicable State law, a certificate of title is issued and any security interest therein is required to be perfected by notation on such certificate of title or recorded with the relevant Governmental Authority that issued such certificate of title. (b) Each of the following terms is defined in the Section set forth opposite such term: Term Section Acceptance Time 2.01(e)Adverse Recommendation Change 7.03(a)Agreement PreambleBalance Sheet Date 5.10Board of Directors RecitalsCertificate of Merger 3.01(c)Certificates 3.03(a)Closing 3.01(b)Company PreambleCompany Common Stock 5.05(a)Company Disclosure Documents 5.09(a)Company Preferred Stock 5.05(a) Company Recommendation5.02(b)Company RSU3.06Company SEC Documents5.07(a)Company Securities5.05(c)Company Stock Option3.05Compensation Arrangement Approvals7.04Continuing Employee8.03(a)D&O Insurance8.02(c)Dissenting Shares3.04Effective Time3.01(c)End Date11.01(b)(i)Enforceability Exceptions5.02(a)Exchange Agent3.03(a)Expiration Time2.01(c)Federal Reserve6.03Indemnified Person8.02(a)Intervening Event7.03(b)Maximum Amount8.02(c)Merger3.01(a)Merger Consideration3.02(a)Merger SubPreambleOfferRecitalsOffer Commencement Date2.01(a)Offer Conditions2.01(a)Offer Documents2.01(f)Offer PriceRecitalsParentPreambleParent Surviving Corporation Shares3.02(b)Representatives7.03(a)Sarbanes-Oxley Act5.07(c)Schedule 13E-32.01(f)Schedule 14D-92.02(a)Schedule TO2.01(f)Section 163(b)6.03SharesRecitalsSpecial CommitteeRecitalsSurviving Corporation3.01(a)Taxing Authority1.01(a) (definition of Tax)Uncertificated Shares3.03(a)
Titled Asset means an automobile, light-duty truck, SUV or van for which, under applicable state law, a certificate of title is issued and any security interest therein is required to