Legal and beneficial ownership. (a) Each of the Obligors is or will be (as the case may be) the sole legal and beneficial owner of the respective assets over which it purports to grant Security in each case free from any claims, third party rights or competing interests other than any Permitted Lien.
Appears in 5 contracts
Samples: Amendment and Restatement Agreement (Melco Resorts & Entertainment LTD), Intercreditor Agreement (STUDIO CITY INTERNATIONAL HOLDINGS LTD), Intercreditor Agreement (STUDIO CITY INTERNATIONAL HOLDINGS LTD)
Legal and beneficial ownership. (a) Each of the Obligors is or will be (as the case may be) the sole legal and beneficial owner of the respective assets over which it purports to grant Transaction Security in each case free from any claims, third party rights or competing interests other than any Permitted Lienas expressly permitted under the Finance Documents.
Appears in 1 contract
Samples: Facilities Agreement (Melco Crown Entertainment LTD)
Legal and beneficial ownership. (a) Each of the Obligors is or will be (as the case may be) the sole legal and beneficial owner of the respective assets over which it purports to grant Security in each case free from any claims, third party rights or competing interests other than any Permitted LienSecurity permitted under paragraph 3.15 (Negative Pledge) of Schedule 6 (Covenants).
Appears in 1 contract
Samples: Facilities Agreement (Melco PBL Entertainment (Macau) LTD)
