Examples of Titled Collateral in a sentence
As of the Closing Date, no Grantor owns any Titled Collateral, except as set forth on Schedule XII.
If any Grantor shall at any time acquire any Titled Collateral after the Closing Date, such Grantor shall promptly notify the Administrative Agent thereof.
Also set forth on Schedule II is the location of the title certificates for each item of Titled Collateral listed on such Schedule II.
Due to the related-party nature of this transaction, Debtor shall deliver the certificates of title (“Titles”) to the Titled Collateral (as indicated on Exhibit A) to an independent, third-party escrow agent (the “Escrow Agent”) who shall hold the Titles for the benefit of Secured Party.
No Grantor shall be required to take any action with respect to perfection of any security interest in (i) Letter-of-Credit Rights to the extent a security interest therein may not be perfected by the filing of a financing statement under the Uniform Commercial Code, (ii) Commercial Tort Claims asserting damages of less than $250,000 or (iii) Titled Collateral to the extent that a security interest therein may not be perfected by the filing of a financing statement under the Uniform Commercial Code.