No Secured Creditors Clause Samples

The 'No Secured Creditors' clause establishes that the party in question does not have any outstanding debts or obligations that are secured by collateral. In practice, this means that the party affirms it has not granted any security interests, such as mortgages or liens, over its assets to any lenders or creditors. This clause is often used in agreements to reassure the other party that there are no prior claims on the assets that could take precedence in the event of default or insolvency. Its core function is to provide assurance and reduce risk by confirming that the assets involved are unencumbered and available to satisfy obligations under the agreement.
No Secured Creditors. The Company does not have any secured creditors holding a fixed or floating security interest.
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No Secured Creditors. As neither Parent nor the Company has any creditors holding a fixed or floating security interest over any of its assets, no creditor consent to the Merger within the meaning of Section 233(8) of the Companies Law is required.
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No Secured Creditors. Each of the Company and Merger Sub acknowledges and agrees that it has no secured creditors within the meaning of section 233(8) of the Companies Law and therefore no creditor consent to the Merger is required.
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No Secured Creditors. The Purchaser does not have any secured creditors holding a fixed or floating security interest.
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No Secured Creditors. Merger Sub has no secured creditors holding fixed or floating security interests.
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No Secured Creditors. The Parent does not have any secured creditors holding a fixed or floating security interest.
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No Secured Creditors. Borrower shall have no other secured creditors, or creditors with claims that by their terms are convertible to secured claims.
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No Secured Creditors. None of Parent, Merger Sub or any of their respective Affiliates has any secured creditors holding a fixed or floating charge or security interest in respect of Parent, Merger Sub or their securities.
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No Secured Creditors. Neither the Company nor any of its Subsidiaries has any secured creditors holding fixed or floating security interests.
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Related to No Secured Creditors

  • No Security Interest Holders shall have no security interest in any of the Company’s assets or other collateral. Nothing in this Revenue Sharing Agreement or in the Notes, express or implied, shall be construed to constitute a security interest under the Uniform Commercial Code or similar legislation, now in effect or hereaHer enacted and made effective, in any jurisdiction.

  • No Security Your Account is unsecured. We are not taking a security interest in any property in connection with your Account.

  • No Security Interest Created Nothing in this Indenture or in the Notes, expressed or implied, shall be construed to constitute a security interest under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any jurisdiction.

  • No Set-Off The Company's obligation to make the payments provided for in this Agreement and otherwise to perform its obligations hereunder shall not be affected by any circumstances, including, without limitation, any set-off, counterclaim, recoupment, defense or other right which the Company may have against the Employee or others.

  • No set-off by Obligors All payments to be made by an Obligor under the Finance Documents shall be calculated and be made without (and free and clear of any deduction for) set-off or counterclaim.