Common use of Title and Security Interest Clause in Contracts

Title and Security Interest. Where CPE is purchased and delivered within the same jurisdiction Verizon keeps title until fully paid; then title passes to Customer. Customer shall not give anyone else other than a Customer Affiliate, a security interest in the CPE, or allow a lien to be placed on it, until Customer has paid Verizon in full. For other purchase transactions, title to the CPE passes to Customer at the designated delivery point. As between Verizon and Customer, Verizon retains all right, title and interest in and to all software provided by Verizon.