Common use of Prior Management Agreements Clause in Contracts

Prior Management Agreements. Effective as of the Closing Date, there shall be no Prior Management Agreements and no other agreement (other than the Lease), letters, certificates or other documents of any kind, relating to the Containers which will be binding on Buyer or which will create a lien, charge, security interest or other encumbrance in or on the Containers or any part thereof after the Closing. To Seller’s knowledge, there are no set-offs, defenses or counterclaims available against amounts owed to Seller in respect of the operation of the Containers prior to the Closing Date. No prepayment of rent or prepayment of casualty value under the Prior Management Agreements has been made by CCL or any other party for any period subsequent to the Closing Date.

Prior Management Agreements. Effective as of the Closing Date, there shall be no Prior Management Agreements and no other agreement (other than the Lease)agreements, letters, certificates or other documents of any kind, relating to the Containers which will be binding on Buyer or which will create a lien, charge, security interest or other encumbrance in or on the Containers or any part thereof after the Closing. To Seller’s knowledge, there are no set-offs, defenses or counterclaims available against amounts owed to Seller in respect of the operation of the Containers prior to the Closing Effective Date. No prepayment of rent or prepayment of casualty value under the Prior Management Agreements has been made by CCL or any other party for any period subsequent to the Closing Effective Date.