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.
Appears in 3 contracts
Sources: Master Exchange Agreement, Master Exchange Agreement (Hertz Global Holdings, Inc), Master Exchange Agreement (Hertz Global Holdings Inc)