Common use of Deemed Transfer Clause in Contracts

Deemed Transfer. If, pursuant to Section 4.12(d), the Purchase Price is deposited with the Corporation's bankers in the name of the Seller, from and after the date of such deposit, and even though the certificates or instruments representing the Purchased Securities have not been delivered to the Purchaser, the purchase and sale of the Purchased Securities shall be deemed to have been fully completed and all right, title, benefit and interest, both at law and in equity, in and to the Purchased Securities shall be conclusively deemed to have been transferred and assigned to and become vested in the Purchaser and all right, title, benefit and interest, both at law and in equity, of the Seller

Deemed Transfer. If, pursuant to Section 4.12(d), the Purchase Price is deposited with the Corporation's ’s bankers in the name of the Seller, from and after the date of such deposit, and even though the certificates or instruments representing the Purchased Securities have not been delivered to the Purchaser, the purchase and sale of the Purchased Securities shall be deemed to have been fully completed and all right, title, benefit and interest, both at law and in equity, in and to the Purchased Securities shall be conclusively deemed to have been transferred and assigned to and become vested in the Purchaser and all right, title, benefit and interest, both at law and in equity, of the SellerSeller or of any transferee, assignee or any other person claiming any interest, legal or equitable, therein or thereto through the Seller shall cease.