Sole Interest Clause Samples

The Sole Interest clause establishes that a particular right, benefit, or obligation is held exclusively by one party to a contract. In practice, this means that only the designated party can exercise certain rights or claim specific interests, and no other party—including joint parties or third parties—may share in or interfere with these interests. This clause is commonly used to clarify ownership of intellectual property, control over decision-making, or entitlement to payments. Its core function is to prevent disputes by ensuring that only one party has authority or entitlement in the specified area, thereby promoting certainty and reducing the risk of conflicting claims.
Sole Interest. SNLLC’s Membership Interest constitutes all of SNLLC’s interests in the Company, the Company’s subsidiaries and the Networks (whether classified as a debt, equity, profit or participation interests or otherwise). The Company is not currently indebted to SNLLC or any of its Affiliates for any amount, and there are no evidences of indebtedness of the Company (including any Default Promissory Notes) held directly or indirectly by SNLLC or any Affiliate thereof.
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Related to Sole Interest

  • Simple Interest Each Receivable provides for scheduled monthly payments that fully amortize the Amount Financed by maturity (except for minimally different payments in the first or last month in the life of the Receivable) and provides for a finance charge or yield interest at its APR, in either case calculated based on the Simple Interest Method.

  • Deferred Interest The amount by which the interest due on a Mortgage exceeds the borrower’s monthly payment, which amount is added to the unpaid principal balance of the Mortgage.

  • Insurable Interest To the extent that Purchaser may have any equitable or insurable interest in the Property, Purchaser will take appropriate steps to protect the same. Notwithstanding the foregoing, should the Property be damaged by calamity after the date hereof, but before Closing, Seller, may, at the Seller’s sole option, declare this Agreement null and void, and, on the return of the Deposit to Purchaser, the parties shall have no further liability to each other.

  • Permissible Interest Subject to and in accordance with the Trust’s Declaration of Trust and Bylaws and corresponding governing documents of Portfolio Manager, Trustees, officers, agents and shareholders of the Trust may have an interest in the Portfolio Manager as officers, directors, agents and/or shareholders or otherwise. Portfolio Manager may have similar interests in the Trust. The effect of any such interrelationships shall be governed by said governing documents and the provisions of the Investment Company Act.

  • Interim Interest If the Issuing Bank shall make any LC Disbursement, then, unless the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse the Issuing Bank shall be for the account of such Lender to the extent of such payment.