Common use of Title and Interest Clause in Contracts

Title and Interest. It is agreed that all rights, title and interest to and in any payment between the Parties in respect of Contracts under this Agreement, vest in the recipient clear of any liens, charges, encumbrances or any other interest of the transferor or any third party. Nothing in this Agreement creates in favour of either party, any mortgage, charge, lien, pledge or other security interest in any cash or property transferred by one to the other under any Contract.

Title and Interest. It is agreed that all rights, title and interest to and in any payment between the Parties in respect of Contracts under this Agreement, vest in the recipient clear of any liens, charges, encumbrances or any other interest of the transferor or any third party. Nothing in this Agreement creates in favour favor of either party, any mortgage, charge, lien, pledge or other security interest in any cash or property transferred by one to the other under any Contract.