Personal Property and Safe Deposit Boxes Clause Samples

Personal Property and Safe Deposit Boxes. At the Closing, subject to the terms and conditions set forth herein, the Company shall convey, assign and transfer to ALBANK all of the Company's right, title and interest in and to the Personal Property and Safe Deposit Boxes as of the Pre-closing Close of Business, free and clear of all Encumbrances other than the Encumbrances existing on the date hereof listed on Schedule 3(b) and immaterial Encumbrances incurred subsequent to the date hereof and prior to the Pre-closing Close of Business in the ordinary course of the Company's business (collectively, the "Permitted Encumbrances"). The Company shall cause the B▇▇▇ of Sale to be delivered to ALBANK on the Closing Date to effect such conveyance, assignment and transfer, which shall contain a brief description of the items being transferred.