No Possession or Title Clause Samples

The "No Possession or Title" clause establishes that a party does not obtain legal ownership or physical control over certain goods, property, or assets under the agreement. In practice, this means that even if a party is involved in the transaction or arrangement, they are not entitled to take delivery, use, or claim ownership of the items in question. For example, a financier providing funds for a purchase would not automatically gain title to the purchased goods. This clause is essential for clarifying the parties' rights and responsibilities, preventing misunderstandings about ownership, and limiting liability for loss or damage to the property.
No Possession or Title. Each Legal Entity and the QI agree that, as described in the preceding paragraph, all Relinquished Properties and all Replacement Properties shall be transferred directly from the applicable Legal Entity to the applicable Buyer or directly from the applicable Seller to the applicable Legal Entity, as the case may be. As a result, the QI shall not (1) take actual or constructive possession of, (2) hold legal title to, or (3) be the registered or beneficial owner of any Relinquished Property or Replacement Property.
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Related to No Possession or Title

  • Quiet Possession Upon Tenant paying the rent reserved hereunder and observing and performing all of the covenants, conditions and provisions on Tenant's part to be observed and performed hereunder, Tenant shall have quiet possession of the Premises for the entire term hereof, subject to all the provisions of this Lease.

  • Possession of the Property The Parties hereby agree that the exclusive possession of the Property shall be delivered by the Seller to the Buyer on

  • Possession of Property Possession of the Property free and clear of all uses and encroachments, except the Permitted Exceptions, shall be delivered to Purchaser at closing.

  • Collateral in the Possession of a Bailee If any Inventory or other Goods are at any time in the possession of a bailee, such Assignor shall promptly notify the Collateral Agent thereof and, if requested by the Collateral Agent, shall use its commercially reasonable efforts to promptly obtain an acknowledgment from such bailee, in form and substance reasonably satisfactory to the Collateral Agent, that the bailee holds such Collateral for the benefit of the Collateral Agent and shall act upon the instructions of the Collateral Agent, without the further consent of such Assignor. The Collateral Agent agrees with such Assignor that the Collateral Agent shall not give any such instructions unless an Event of Default has occurred and is continuing or would occur after taking into account any action by the respective Assignor with respect to any such bailee.

  • NO VACANT POSSESSION 14.1 The Purchaser shall upon full payment of the Balance Purchase Price together with all interest on late payment (if any) be entitled at his own costs and expenses to take possessions of the Property. 14.2 The Bank shall not be under any obligation whatsoever to deliver vacant possession of the Property or to forward to the Purchaser or any party any keys to the Property. 14.3 The Property is sold subject to all existing easements, leases, tenancies, occupiers, charges, caveats, previous Sale and Purchase, previous assignment, covenants, liabilities subsisting thereon or thereover and the Purchaser shall be deemed to have full knowledge of the state and condition of the Property.