No Interest Letter Sample Clauses
A No Interest Letter is a formal declaration by a party stating that they have no financial or legal interest in a particular asset, transaction, or matter. Typically, this letter is used in real estate or business transactions to confirm that a third party, such as a lender or previous owner, does not claim any rights or obligations regarding the subject property or agreement. By providing this assurance, the No Interest Letter helps eliminate potential disputes or claims, ensuring a clear and uncontested transfer or transaction.
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No Interest Letter. Upon any Return Entity entering into any debt financing arrangements, the applicable Return Entities shall request that the lender(s) deliver to the Payee, a letter addressed to the Payee which acknowledges the intention and agreement between the Parties that the Return constitutes an interest in and covenant running with the mineral claims comprising the Property opposable to third parties and not merely contractual in nature.
No Interest Letter. Upon any Royalty Entity entering into any debt financing arrangements, the applicable Royalty Entities shall request that the lender(s) deliver to the Payee, a letter addressed to the Payee which acknowledges the intention and agreement between the Parties that the Royalty constitutes an interest in and covenant running with the land and not merely contractual in nature.
No Interest Letter. Upon any Royalty Payor Entity entering into any Material Indebtedness or upon any Transfer by any Royalty Payor Entity in accordance with Section 21(a) to a transferee that has any Material Indebtedness, the applicable Royalty Payor Entities shall cause the lender(s) or other applicable counterparty(ies) to deliver to the Payee a No Interest Letter.