{"component": "clause", "props": {"groups": [{"size": 67, "snippet": "It and each of its Subsidiaries is the sole legal and beneficial owner of the respective assets over which it purports to grant Security.", "snippet_links": [{"key": "legal-and-beneficial-owner", "type": "clause", "offset": [44, 70]}, {"key": "grant-security", "type": "definition", "offset": [122, 136]}], "samples": [{"hash": "5e2dzRnyIxD", "uri": "/contracts/5e2dzRnyIxD#legal-and-beneficial-ownership", "label": "Senior Facilities Agreement (AIR LTD)", "score": 37.2327156067, "published": true}, {"hash": "kNkTrMJpXjD", "uri": "/contracts/kNkTrMJpXjD#legal-and-beneficial-ownership", "label": "Note Subscription Agreement (CorpAcq Group PLC)", "score": 35.162902832, "published": true}, {"hash": "1MNw4X4QTVO", "uri": "/contracts/1MNw4X4QTVO#legal-and-beneficial-ownership", "label": "Note Subscription Agreement (CorpAcq Group PLC)", "score": 35.0752906799, "published": true}], "hash": "6f7d8778a17f7cfcaa440f4f1752b0eb", "id": 1}, {"size": 17, "snippet": "(a) It and each of its Restricted Subsidiaries is the sole legal and beneficial owner of the respective shares and other assets over which it purports to grant Security.\n(b) The Company is legally and beneficially owned by the Parent free from any claims, third party rights or competing interests other than any Permitted Liens.", "snippet_links": [{"key": "restricted-subsidiaries", "type": "definition", "offset": [23, 46]}, {"key": "legal-and-beneficial-owner", "type": "clause", "offset": [59, 85]}, {"key": "other-assets", "type": "clause", "offset": [115, 127]}, {"key": "grant-security", "type": "definition", "offset": [154, 168]}, {"key": "the-company", "type": "definition", "offset": [174, 185]}, {"key": "by-the-parent", "type": "clause", "offset": [220, 233]}, {"key": "third-party-rights", "type": "definition", "offset": [256, 274]}, {"key": "competing-interests", "type": "clause", "offset": [278, 297]}, {"key": "permitted-liens", "type": "definition", "offset": [313, 328]}], "samples": [{"hash": "gLYGwvDYnp8", "uri": "/contracts/gLYGwvDYnp8#legal-and-beneficial-ownership", "label": "Senior Revolving Facility Agreement (Nord Anglia Education, Inc.)", "score": 23.1314163208, "published": true}, {"hash": "2jOzypUbB8", "uri": "/contracts/2jOzypUbB8#legal-and-beneficial-ownership", "label": "Revolving Facility Agreement (Nord Anglia Education, Inc.)", "score": 23.1314163208, "published": true}, {"hash": "2VtKlVcLFa2", "uri": "/contracts/2VtKlVcLFa2#legal-and-beneficial-ownership", "label": "Amendment and Restatement Agreement (Nord Anglia Education, Inc.)", "score": 23.1314163208, "published": true}], "hash": "52888fbfd0c9bc6431ab48999208ef06", "id": 4}, {"size": 50, "snippet": "The Participant represents and warrants that it will not attempt to place a Redemption Order for the purpose of redeeming any Creation Unit(s) of Shares of any Fund unless: (i) it or the Participant Client(s), as the case may be, owns outright or has full legal authority and legal right to tender for redemption the requisite number of Shares of the relevant Fund and to receive the entire proceeds of the redemption; (ii) such Shares have not been sold short, loaned or pledged to another party; and (iii) such Shares are not the subject of a repurchase agreement, securities lending agreement or any other arrangement affecting the Participant\u2019s ability to tender the Shares for redemption and the Fund\u2019s ability to settle the Redemption Order on the Contractual Settlement Date and to take legal or beneficial ownership of such Shares pursuant to the redemption. 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In the event that the Distributor and/or the Trust have reason to believe that the Participant does not have the requisite number of Shares of the relevant Series to be redeemed as a Creation Unit, the Distributor and/or the Trust may require the Participant to deliver or execute supporting documentation in order for the Redemption Request to be in proper form. 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["beneficial-ownership-regulation", "Beneficial Ownership Regulation", "Beneficial Ownership Regulation"], ["limit-on-beneficial-ownership", "Limit on Beneficial Ownership", "Limit on Beneficial Ownership"], ["beneficial-ownership-information", "Beneficial Ownership Information", "Beneficial Ownership Information"]], "related_snippets": [], "updated": "2026-07-02T06:35:13+00:00", "also_ask": ["How can parties strategically allocate legal vs. beneficial ownership to achieve commercial objectives?", "What essential drafting elements must clarify the distinction and transfer of legal and beneficial ownership?", "What are the main risks if beneficial ownership is not expressly defined or documented?", "How do courts determine true beneficial ownership in disputes over title or control?", "How does this clause compare to similar provisions in other jurisdictions or under trust law?"], "drafting_tip": "Define legal and beneficial ownership terms precisely to avoid ambiguity; specify transfer procedures to ensure enforceability; clarify rights and obligations to prevent disputes.", "explanation": "The 'Legal and beneficial ownership' clause defines who holds the formal legal title to an asset and who is entitled to the benefits derived from that asset. In practice, this clause clarifies whether the same party possesses both legal and beneficial interests, or if these are split\u2014such as when a trustee holds legal title for the benefit of a beneficiary. This distinction is crucial in transactions involving trusts, securities, or property, as it determines who has the right to income, control, or proceeds from the asset. The core function of this clause is to prevent disputes by clearly allocating rights and responsibilities associated with ownership."}, "json": true, "cursor": ""}}