No Repossession (m) Sample Clauses

The "No Repossession" clause prohibits a party from reclaiming or repossessing goods, property, or assets once they have been delivered or transferred under the agreement. In practice, this means that even if the buyer defaults or fails to meet certain obligations, the seller or lender cannot physically take back the items in question. This clause is commonly used in sales or financing contracts to provide the recipient with security of ownership and to prevent unilateral recovery actions. Its core function is to protect the recipient from the risk of sudden loss of possession, ensuring stability and predictability in the contractual relationship.