Ownership of Contracts Sample Clauses

Ownership of Contracts. Each Purchase by Recco of Contracts constitutes a valid sale, transfer and assignment of the Contracts to Recco enforceable against creditors of, and purchasers from, the Seller, and creates in favor of Recco a perfected ownership interest in and valid, legal and equitable title to such Contracts, which ownership interest is not subject to any Lien.
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Ownership of Contracts. Each purchase by Borrower of Contracts constitutes a valid sale of the Contracts to Borrower and creates in favor of Borrower a
Sample 1
Ownership of Contracts. Each Purchase by Fincx xx Contracts constitutes a valid sale of the Contracts to Fincx xxx creates in favor of Fincx x xerfected ownership interest in and valid, legal and equitable title to such Contracts, which ownership interest is not subject to any Lien.
Sample 1
Ownership of Contracts. Each Purchase by Xxxxx of Contracts constitutes a valid sale, transfer and assignment of the Contracts to Xxxxx enforceable against creditors of, and purchasers from, the Seller, and creates in favor of Xxxxx a perfected ownership interest in and valid, legal and equitable title to such Contracts, which ownership interest is not subject to any Lien.
Sample 1
Ownership of Contracts. Upon delivery to and acceptance of a Contract by Household, and payment by Household of the Purchase Price for the Contract to Company pursuant to this Agreement, the Contract shall be owned and controlled exclusively by Household, and Company shall have no interest in or to such Contract. Company hereby constitutes and appoints Household as its true and lawful attorney for the limited purpose to identify Household or its Affiliate as the assignee and owner of said Contract and the related Vehicle lien, on behalf of Company, upon each Contract and to endorse the name of Company on payment checks applicable to Contracts. Company shall deliver to Household the Power of Attorney described in Section 2.7 below. Household hereby constitutes and appoints Company as its true and lawful attorney for the limited purpose to endorse the name of Household on payment checks applicable to Contracts not ultimately purchased by Household and the Vehicle titles for related Contracts. Household further agrees to promptly re- endorse in favor of Company any payment checks endorsed in error to Household, and Company agrees to promptly re-endorse in favor of Household any payment checks endorsed in error to Company and overnight to Household upon receipt.
Sample 1

Related to Ownership of Contracts

  • Ownership of Seller Originator owns, directly or indirectly, 100% of the issued and outstanding capital stock of Seller, free and clear of any Adverse Claim. Such capital stock is validly issued, fully paid and nonassessable, and there are no options, warrants or other rights to acquire securities of Seller.

  • OWNERSHIP OF THE ASSETS LNY will have exclusive and absolute ownership and control of its assets, including all assets in the Variable Account.

  • Ownership of Assets The Company and its subsidiaries have good and marketable title to all property (whether real or personal) described in the Registration Statement, in the Time of Sale Disclosure Package and in the Prospectus as being owned by them, in each case free and clear of all liens, claims, security interests, other encumbrances or defects except such as are described in the Registration Statement, in the Time of Sale Disclosure Package and in the Prospectus. The property held under lease by the Company and its subsidiaries is held by them under valid, subsisting and enforceable leases with only such exceptions with respect to any particular lease as do not interfere in any material respect with the conduct of the business of the Company or its subsidiaries.

  • Ownership of Accounts In the event of termination, so long as Producer has promptly accounted for and paid all premiums or return commissions for which it may be liable, the Producer’s records and use and control of expiration, shall remain the property of Producer; otherwise, use of record and control of expirations shall be vested promptly and exclusively in Broker.

  • Ownership of Equipment Any equipment purchased by or furnished to the Grantee by the State under this grant agreement is provided on a loan basis only and remains the property of the State.

  • Ownership of Software Other than the limited licenses set forth in this Agreement, any and all rights, title, and interest in and to the Software, and the intellectual property and proprietary rights to the Software, shall not pass to Customer, but shall remain the exclusive property of Spirent or its licensors.

  • Ownership of Interests The Interest Owners are the owners of all of the Interests, each owning the percentage set forth in Item 2(a) of Schedule 1, and have good and valid title thereto, with no restrictions on, or any agreements with respect to, voting rights or any other incidents of ownership thereof, except as set forth in the Company’s Organizational Documents. The Interests represent one hundred percent (100%) of the record and beneficial interests in the Company and all other right, title and interest in and to the equity of the Company. The Interest Owners have the absolute right to sell and transfer all of the Interests to Buyer free and clear of all Interest Liens. Each Interest Owner acquired its Interest in compliance with all applicable laws. On consummation of the Contemplated Transactions, in accordance with the terms hereof, Buyer will acquire good and marketable title to the Interests free and clear of all Interest Liens.

  • Ownership of Company Stock None of the Investor nor any of its controlled Affiliates owns any capital stock or other equity or equity-linked securities of the Company.

  • Ownership of Subsidiaries The Borrower will, and will cause each of its Subsidiaries to, take such action from time to time as shall be necessary to ensure that each of its Subsidiaries is a wholly owned Subsidiary.

  • Ownership of Company Shares The Shareholder is the record and/or “beneficial owner” (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended, which meaning will apply for all purposes of this Agreement) of the number of outstanding Company Shares set forth in the recitals to this Agreement. Also set forth in the recitals to this Agreement is the number of Company Shares issuable upon the exercise of the Options. The Shareholder holds the requisite power to vote the number of Company Shares set forth in the recitals to this Agreement.

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