Common use of Nature of Transfer Clause in Contracts

Nature of Transfer. (a) Transfer of ownership according to this Chapter (VI.) is a security structure alternative to a transfer of ownership directly to Lender, which (transfer to Platform) both Parties deem more suitable for mitigating eventual risks. (b) Parties acknowledge and agree that the transfer of ownership according to this Chapter (VI.) is made for the benefit of ▇▇▇▇▇▇; thus: (i) Platform assumes the obligation to transfer such ownership to Lender according to Clauses 6.5(d) and 6.6(d); (ii) save for Platform 's obligations expressly set out in this Chapter (VI.), with respect or in connection with the transfer of ownership (A) Borrower shall have no nor exercise any claims or rights towards the Platform, and (B) any and all claims or rights shall be settled directly between Parties. (c) Without prejudice to eventual duties stemming from Escrow, the Platform shall bear no risk with regards to Collateral and have no duty of custody and preservation of the Collateral.

Nature of Transfer. (a) Transfer of ownership according to this Chapter Article (VI.) is a security structure alternative to a transfer of ownership directly to Lender, which (transfer to Platform) both Parties deem more suitable for mitigating eventual risks. (b) Parties acknowledge and agree that the transfer of ownership according to this Chapter Article (VI.) is made for the benefit of ▇▇▇▇▇▇; thus: (i) Platform assumes the obligation to transfer such ownership to Lender according to Clauses 6.5(d) and 6.6(d); (ii) save for Platform 's obligations expressly set out in this Chapter Article (VI.), with respect or in connection with the transfer of ownership (A) Borrower shall have no nor exercise any claims or rights towards the Platform, and (B) any and all claims or rights shall be settled directly between Parties. (c) Without prejudice to eventual duties stemming from Escrow, the Platform shall bear no risk with regards to Collateral and have no duty of custody and preservation of the Collateral.