Common use of ASSETS HELD IN TRUST Clause in Contracts

ASSETS HELD IN TRUST. It is acknowledged by the Parties hereto that the transfer of the legal title to all of the Assets will occur upon completion of a payment of consideration. Until the legal title to the Assets has been transferred, Vendor agrees to hold the same for Purchaser, as beneficiary of all of Vendor's right, title and interest in the Assets and same shall be held by Vendor for the sole and exclusive use, benefit and advantage of Purchaser.

ASSETS HELD IN TRUST. ‌ It is acknowledged by the Parties hereto that the transfer of the legal title to all of the Assets will occur upon completion of a payment of consideration. Until the legal title to the Assets has been transferred, Vendor agrees to hold the same for Purchaser, as beneficiary of all of Vendor's right, title and interest in the Assets and same shall be held by Vendor for the sole and exclusive use, benefit and advantage of Purchaser.