Examples of Transferred Beneficial Interest in a sentence
The New GATS Secured Party (if any) shall not be a beneficiary of the GATS Trust or have any interest in the Transferred Beneficial Interest (except to the extent of the Security Interest granted or assigned and transferred to it pursuant to the New GATS Security Instrument).
Grant of Security Interest in the Transferred Beneficial Interest The New Beneficiary may grant a Security Interest in all (but not less than all) of the Beneficial Interest held by it from time to time on the same terms as section 10.4 of the Master Terms (with all references to the ‘Beneficiary’, the ‘GATS Security Instrument’ and the ‘GATS Secured Party’ being deemed to refer to the New Beneficiary, the New GATS Security Instrument and the New GATS Secured Party, respectively).
With effect from the Effective Time: the Existing Beneficiary assigns and transfers all of the Transferred Beneficial Interest to the New Beneficiary, and the New Beneficiary accepts such assignment and transfer; and the Trustee consents to the assignment and transfer of the Transferred Beneficial Interest to the New Beneficiary.
In this Instrument, unless the contrary intention appears: Allocable Aircraft Equipment means the Aircraft Equipment allocable to the Transferred Beneficial Interest, as identified and described in Table 1 of Schedule 3 (Transfer Details).
The Existing Beneficiary hereby represents and warrants to the New Beneficiary, its successors and assigns that there is assigned and transferred to the New Beneficiary at the Effective Time full legal and beneficial title to all of the Transferred Beneficial Interest free and clear of all Security Interests.