Common use of Transfer Title Clause in Contracts

Transfer Title. Effect transfer of title upon sale or distribution of all or part of the Collateral. For this purpose, Grantor irrevocably appoints Lenders as Grantor's attorneys-in-fact to execute endorsements, assignments and instruments in the name of Grantor and each of them (if more than one) as shall be necessary or reasonable. Other Rights and Remedies. Have and exercise any or all of the rights and remedies of a secured creditor under the provisions of the Uniform Commercial Code, at law, in equity, or otherwise. Application of Proceeds. Apply any cash which is part of the Collateral, or which is received from the collection or sale of the Collateral, to reimbursement of any expenses, including any costs for registration of securities, commissions incurred in connection with a sale, permissible fees and court costs, whether or not there is a lawsuit and including any fees on appeal, incurred by Lenders in connection with the collection and sale of such Collateral and to the payment of the Indebtedness of Borrower to Lenders, with any excess funds to be paid to Grantor as the interests of Grantor may appear. Borrower agrees, to the extent permitted by law, to pay any deficiency after application of the proceeds of the Collateral to the Indebtedness.

Transfer Title. Effect transfer of title upon sale or distribution of all or part of the Collateral. For this purpose, Grantor irrevocably appoints Lenders Lender as Grantor's attorneysits attorney-in-fact to execute endorsements, assignments and instruments in the name of Grantor and each of them (if more than one) as shall be necessary or reasonable. Other Rights and Remedies. Have and exercise any or all of the rights and remedies of a secured creditor under the provisions of the Uniform Commercial Code, at law, in equity, or otherwise. Application of Proceeds. Apply any cash which is part of the Collateral, or which is received from the collection or sale of the Collateral, to reimbursement of any expenses, including any costs for registration of securities, commissions incurred in connection with a sale, permissible attorney fees as provided below, and court costs, whether or not there is a lawsuit and including any fees on appeal, incurred by Lenders Lender in connection with the collection and sale of such Collateral and to the payment of the Indebtedness of Borrower Grantor to LendersLender, with any excess funds to be paid to Grantor as the interests of Grantor may appear. Borrower Grantor agrees, to the extent permitted by law, to pay any deficiency after application of the proceeds of the Collateral to the Indebtedness.