No Transfer or Lien by the Additional Transferor Clause Samples
The "No Transfer or Lien by the Additional Transferor" clause prohibits the additional transferor from transferring, assigning, or creating any security interest or lien over the assets or rights specified in the agreement. In practice, this means the additional transferor cannot sell, pledge, or otherwise encumber these assets to third parties during the term of the agreement. This clause ensures that the assets remain unencumbered and fully available to fulfill the obligations under the contract, thereby protecting the interests of the other parties and preventing disputes over ownership or priority claims.
No Transfer or Lien by the Additional Transferor. Except for the transfer and absolute assignment under this Agreement, the Additional Transferor will not transfer or absolutely assign any Additional Transferor Transferred Property transferred and absolutely assigned by it under this Agreement to another Person or Grant or allow a Lien, other than a Permitted Lien, on an interest in any such Additional Transferor Transferred Property. The Additional Transferor will defend the Depositor’s interest in the Additional Transferor Transferred Property transferred and absolutely assigned by it to the Depositor against claims of third parties claiming through the Additional Transferor.