No Hypothecation Sample Clauses
The No Hypothecation clause prohibits a party from pledging, assigning, or otherwise using the contract's subject matter—such as goods, assets, or receivables—as collateral for any loan or obligation. In practice, this means the party cannot use these assets to secure debts with third parties, ensuring that the assets remain unencumbered and available as agreed in the contract. This clause primarily serves to protect the other party's interests by preventing the risk of competing claims or liens on the assets, thereby maintaining clear ownership and reducing financial risk.
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No Hypothecation. Licensee shall not pledge, hypothecate, mortgage, ---------------- grant liens in or upon, grant security interests in, use as collateral or otherwise borrow upon the License, or any of Licensee's rights under this Agreement, without the express prior written consent of Licensor which consent shall not be unreasonably withheld, except that Licensor's consent shall be deemed to have been granted in connection with any pledge, hypothecation, or granting of a lien or security interest in all general intangibles of Licensee existing as of the date of this Agreement. Any such action without consent shall be void and of no effect and shall entitle Licensor to terminate Licensee's rights under this Agreement.
No Hypothecation. Originator may not sell, assign or transfer in any ---------------- way its right to receive a portion of the Servicing Fee as provided in this Section without the prior written consent of Purchaser, except under a Qualified Takeout Commitment.
No Hypothecation. Except as provided in Section 6.8, Custodian shall have no power to deliver, assign, pledge, lend, hypothecate or otherwise dispose of any Security to any person or entity, except pursuant to an Authorized Instruction.
No Hypothecation. Licensee shall not pledge, hypothecate, mortgage, grant liens in or upon, grant security interest in, use as collateral or otherwise borrow upon the license, or any of Licensee's rights under this Agreement, without the express prior written consent of Licensor. Any such action without Licensor's consent shall be void and of no effect and shall entitle Licensor to immediately terminate Licensee's rights under this Agreement.
No Hypothecation. District has title to the Option free of all liens and encumbrances. District has not pledged, assigned, conveyed or otherwise transferred, whether absolutely or as collateral, any of District's right, title, interest, claim and estate in and to the Option or the School Site Agreement
No Hypothecation. NMH has not pledged, assigned, conveyed or otherwise transferred, whether absolutely or as collateral, any of NMH's right, title, interest, claim and estate in and to the School Site Agreement.
No Hypothecation. Creditor represents, warrants and covenants to the Company that he has not sold, assigned, pledged, hypothecated, donated or otherwise transferred the Accrued Liabilities or any interest therein to any third party.
No Hypothecation. Tenant shall not pledge, hypothecate or otherwise encumber or suffer encumbrance of all or any part of its interest in this Lease.
No Hypothecation. Licensee shall not pledge, hypothecate, mortgage, grant liens in or upon, grant security interests in, or use as collateral any of Licensee's rights with respect to the Trademarks under this Agreement.
No Hypothecation. Payee represents, warrants and covenants to Maker and the Company that it has not sold, assigned, pledged, hypothecated, donated or otherwise transferred the Note or any interest therein to any third party.