Common use of TITLES OF OWNERSHIP AND EXISTING CHARGES Clause in Contracts

TITLES OF OWNERSHIP AND EXISTING CHARGES. It is the unconditional and absolute owner of the Charged property, except for future property, and all such property is free and clear of any prior claim, hypothec, charge, security or security interest, seizure by garnishment, right of resolution or repossession or of any other right whatsoever existing in favour of persons other than any such right which constitutes a Lien which is permitted in accordance with paragraphs (a) and following of Section 412 of the Indenture.

TITLES OF OWNERSHIP AND EXISTING CHARGES. It is the unconditional and absolute owner of the Charged property, except for future property, and all such property is free and clear of any prior claim, hypothec, charge, security or security interest, seizure by garnishment, right of resolution or repossession or of any other right whatsoever existing in favour of persons other than the Trustee and other than any such right which constitutes a Lien which is permitted in accordance with paragraphs (a) and following of Section 412 of the Indenture.