OWNERSHIP OF THE ASSETS. LNY will have exclusive and absolute ownership and control of its assets, including all assets in the Variable Account.
OWNERSHIP OF THE ASSETS. We will have exclusive and absolute ownership and control of Our assets, including all assets in the Variable Account.
OWNERSHIP OF THE ASSETS. Schedule 2.4 of the Seller Disclosure Schedule sets forth a true, correct and complete list of all claims, liabilities, liens, security interests, mortgages, restrictions, prior assignments, pledges, charges, encumbrances and equities of any kind or nature whatsoever affecting the Assets (collectively, the "Encumbrances"). The Seller is, and at the Closing will be, the true and lawful owner of the Assets, and will have the right to sell and transfer to the Buyer good, clear, record and marketable title to the Assets, free and clear of all Encumbrances of any kind. The delivery to the Buyer of all instruments of transfer of ownership contemplated by this Agreement, including without limitation the Xxxx of Sale, will vest good and marketable title to the Assets in the Buyer, free and clear of all liens, mortgages, pledges, lines of credit, security interests, restrictions, prior assignments, encumbrances and claims of any kind or nature whatsoever.
OWNERSHIP OF THE ASSETS. The Company shall have exclusive and absolute ownership and control of its assets, including all assets in the Separate Account.
OWNERSHIP OF THE ASSETS. GIAC shall have ownership and control of its assets, including all assets allocated to Account R. Inactive Contract We may terminate the contract by paying the Owner the Accumulation Value in one sum, if prior to the Annuity Commencement Date all of the following occur: • no premium payments are made for two consecutive years; • the total amount of premium payments made, less any withdrawals, is less than $2,000; • the Accumulation Value on or after the end of such two year period is less than $2,000; and • we notified you in writing that this contract is inactive and subject to termination and on the date 6 months following the date of this notice you have not made any premium payments to bring either your total premium payments less withdrawals, or your Accumulation Value to $2,000. Taxes We will not be responsible for any tax consequences arising out of any transactions or ownership of this contract. Compliance with Section 72(s) of the Internal Revenue Code Notwithstanding any provision in this contract to the contrary, in the event of a Non-Natural Owner we may take any action regarding the payment of any benefits or distributions so that the contract conforms with the requirements of Section 72(s) of the Code. Deferment We will ordinarily pay any death benefit, transfers, annuity payments, withdrawal or surrender proceeds from the Variable Investment Options within seven days after the Valuation Date on which we receive your request in Good Order at our Customer Service Office. However, we may defer payment of any such transaction from the Variable Investment Options if: • the New York Stock Exchange, or its successor, is closed for trading; or • the Securities and Exchange Commission restricts trading on the New York Stock Exchange, or its successor or determines that a state of emergency exists which may make such calculation, payment or transfer impracticable; or • a premium payment check has not cleared the payee’s bank; or • the Securities and Exchange Commission by order permits such deferral. When permitted by law, we may defer any fixed annuity payment from our general account for up to 6 months. Interest will accrue daily, starting on the date deferment begins, at the rate of 3% on any amount deferred 30 days or more.
OWNERSHIP OF THE ASSETS. (a) The Assets, together with the rights of Purchaser under this Agreement and the Intellectual Property License Agreement and the Transition Services Agreement, include all assets, properties and rights (other than Overhead and Shared Services) necessary and sufficient to provide the products and services offered by, and to conduct, the Business substantially in the manner and to the extent currently conducted.
OWNERSHIP OF THE ASSETS. The Seller has, and the transfer by the Seller of the Assets will pass to the Buyer, good title to the Assets, free and clear of any claims, liens, encumbrances and security interests whatsoever.
OWNERSHIP OF THE ASSETS. Sellers hereby represent and warrant the following to Purchaser:
OWNERSHIP OF THE ASSETS. 4.1 The Assets are legally and beneficially owned by the Seller free from all Encumbrances.
OWNERSHIP OF THE ASSETS. Schedule 2.3 attached hereto sets forth a true, correct and complete list of all claims, liabilities, liens, pledges, charges, encumbrances and equities of any kind affecting the Assets (collectively, the "ENCUMBRANCES"). The Seller is, and at the Closing will be, the true and lawful owner of the Assets, and will have the right to sell and transfer to the Buyer good, clear, record and marketable title to the Assets, free and clear of all Encumbrances of any kind. The delivery to the Buyer of the instruments of transfer of ownership contemplated by this Agreement will vest good and marketable title to the Assets in the Buyer, free and clear of all liens, mortgages, pledges, security interests, restrictions, prior assignments, encumbrances and claims of any kind or nature whatsoever other than any disclosed Encumbrances.
