Interest in Assets Sample Clauses
The 'Interest in Assets' clause defines the rights or claims a party holds over specific assets, typically within the context of a contract or agreement. This clause outlines whether a party has ownership, a security interest, or another form of legal claim to assets such as property, equipment, or intellectual property. For example, it may specify that a lender has a security interest in a borrower's equipment until a loan is repaid. Its core practical function is to clarify asset rights and priorities, thereby reducing disputes and protecting parties' interests in the event of default or insolvency.
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Interest in Assets. Neither the Executive nor his estate shall acquire hereunder any rights in funds or assets of the Employer, otherwise than by and through the actual payment of amounts payable hereunder; nor shall the Executive or his estate have any power to transfer, assign, anticipate, hypothecate or otherwise encumber in advance any of said payments; nor shall any of such payments be subject to seizure for the payment of any debt, judgment, alimony, separate maintenance or be transferable by operation of law in the event of bankruptcy, insolvency or otherwise of the Executive.
Interest in Assets. Neither the Employee nor the Employee's estate shall acquire hereunder any rights in funds or assets of the Employer, otherwise than by and through the actual payment of amounts payable hereunder; nor shall the Employee or the Employee's estate have any power to transfer, assign, anticipate, hypothecate or otherwise encumber in advance any of said payments; nor shall any of such payments be subject to seizure for the payment of any debt, judgment, alimony, separate maintenance or be transferable by operation of law in the event of bankruptcy, insolvency or otherwise of the Employee.
Interest in Assets. Neither the stockholders of Company nor any Affiliate(s) of the stockholders nor anyone else other than Company owns any property or rights, tangible or intangible, used in or related, directly or indirectly, to the business of the Company.
Interest in Assets. No Person other than Seller owns any real or personal property or rights, tangible or intangible, used in or related, directly or indirectly, to the Business.
Interest in Assets. Except as set forth in Schedule 3.19 hereto, no shareholder, officer or director of Ocean or any of the Ocean Subsidiaries nor any affiliate thereof owns any property or rights, tangible or intangible, used in or related directly or indirectly, to the business of Ocean and the Ocean Subsidiaries.
Interest in Assets. Except as set forth in Schedule 2.14 hereto with respect to the real property leased by Solovision, no officer, director or holder of capital stock of Solovision or any affiliate thereof owns any property or rights, tangible or intangible, used in or related, directly or indirectly, to the business of Solovision.
Interest in Assets. Except as set forth in Exhibit 4.20, none of UNICO'S officers, directors, or shareholders of greater than 5% of the outstanding shares, owns any property or rights, tangible or intangible, used in or related, directly or indirectly, to the business of UNICO.
Interest in Assets. Except as set forth in Exhibit 3.20, neither SGI nor any of SI's shareholders or affiliates, owns any property or rights, tangible or intangible, used in or related, directly or indirectly, to the business of SI.
Interest in Assets. Except as set forth on Section 4.37 of the Disclosure Schedules, no Person other than Seller owns any real or personal property or rights, tangible or intangible, used in or related, directly or indirectly, to the Business.
Interest in Assets. To the best knowledge of the Shareholders, except as set forth in the Disclosure Schedule, neither any Shareholder nor any affiliate of any Shareholder or of STL owns any property or rights, tangible or intangible, used in or related, directly or indirectly, to the business of STL. As used herein, "affiliate of any Shareholder or of STL" means any person, corporation or other entity which directly or indirectly controls, is controlled by or is under common control with such Shareholder or STL.