Common use of Absolute Conveyance Clause in Contracts

Absolute Conveyance. The Borrower and the Guarantor Parties each acknowledges and agrees that the conveyance by the Borrower and Guarantor of the Loan Collateral (excluding, for the avoidance of doubt, any Equity Interests owned by Guarantor in any of its subsidiaries) to the Designee in accordance with and as contemplated by the terms and conditions of this Agreement, is an absolute conveyance of all of the rights, title and interests of the Borrower and Guarantor in and to the Loan Collateral and is not intended as a deed of trust, mortgage, trust conveyance, or other security agreement of any nature whatsoever, and that the Borrower and Guarantor shall not have any further interest (including specifically, but without implied limitation, any equity or right of redemption) or claims in and to the Loan Collateral or the rents, issues, or profits and other proceeds that may be derived therefrom.