Common use of Transfer, Risk, No Encumbrances and Ineffectiveness Clause in Contracts

Transfer, Risk, No Encumbrances and Ineffectiveness. 1 Transfer of Title and Risk: Subject to §14.3 (Event of Change in Law and Ineffectiveness): (a) for Electronic Transfer, risk and title in the Certificates shall pass from the Seller to the Buyer at the Delivery Point; and (b) for transfer by Cancellation Statement, risk and title in the attributes conferred by the cancelled Certificates as well as in the Cancellation Statement shall pass from the Seller to the Buyer at the Delivery Point.