Good Title; No Existing Encumbrances Sample Clauses
The "Good Title; No Existing Encumbrances" clause ensures that the seller or transferor guarantees they have clear and valid ownership of the property or asset being transferred, free from any legal claims, liens, or other encumbrances. In practice, this means the seller must confirm that no third parties have rights or interests—such as mortgages, unpaid taxes, or easements—that could affect the buyer’s use or ownership of the asset. This clause is essential for protecting the buyer, as it provides assurance that they will receive full, unencumbered title and helps prevent future disputes or financial liabilities related to prior claims.
Good Title; No Existing Encumbrances. The Grantors own their respective items of Collateral free and clear of any prior Lien other than Liens permitted by Section 5.14 of the Credit Agreement (referred to herein as the “Permitted Liens”), and no financing statements or other evidences of the grant of a security interest respecting the Collateral exist on the public records other than with respect to Permitted Liens.
Good Title; No Existing Encumbrances. The Borrower and Guarantors own the Collateral free and clear of any prior Lien, and no financing statements or other evidences of the grant of a security interest respecting the Collateral exist on the public records.
Good Title; No Existing Encumbrances. Borrower owns the Equipment Collateral free and clear of any prior Lien thereon other than with respect to any Permitted Encumbrances and no financing statements or other evidences of the grant of a security interest respecting the Equipment Collateral exist on the public records as of the date hereof other than any evidencing any Permitted Encumbrances.
Good Title; No Existing Encumbrances. The Grantors own the Collateral free and clear of any prior Lien, and no financing statements or other evidences of the grant of a security interest respecting the Collateral exist on the public records.
Good Title; No Existing Encumbrances. Except with respect to any Permitted Encumbrances, Borrower owns the Inventory Collateral free and clear of any prior Lien, and no financing statements or other evidences of the grant of a security interest respecting the Inventory Collateral exist on the public records as of the date hereof other than any evidencing any Permitted Encumbrances.
Good Title; No Existing Encumbrances. Borrower owns the Property Collateral free and clear of any and all prior security interests, liens or encumbrances thereon other than any Permitted Encumbrances, and no financing statements or other evidence of the grant of a security interest respecting the Property Collateral exist on the public records as of the date hereof other than any evidencing the Permitted Encumbrances.
Good Title; No Existing Encumbrances. Borrower has good title to its Accounts Receivable Collateral free and clear of all Liens thereon other than any Permitted Encumbrances, and no financing statement covering the Accounts Receivable Collateral is on file in any public office other than any evidencing Permitted Encumbrances.
Good Title; No Existing Encumbrances. Borrower owns the Accounts Receivable Collateral and Inventory Collateral free and clear of any prior security interest, lien or encumbrance, and no financing statements or other evidence of the grant of a security interest respecting the Accounts Receivable Collateral and Inventory Collateral exist on the public records as of the date hereof other than any evidencing the Permitted Encumbrances.
Good Title; No Existing Encumbrances. Borrower owns the Furniture, Fixtures and Equipment Collateral free and clear of any prior security interest, lien or encumbrance, and no financing statements or other evidences of the grant of a security interest respecting the Furniture, Fixtures and Equipment Collateral exist on the public records as of the date hereof other than any evidencing the Permitted Encumbrances, and other than financing statements that will be paid off and canceled of record, with proceeds of this Loan.
Good Title; No Existing Encumbrances. Right to Grant Security Interest; No Further Encumbrances.............................16 6.5