Nature of Interest. The right granted to the Licensee under this Agreement is a license only, and shall not constitute a partnership, joint venture or lease between the parties.
Nature of Interest. The Member shall not have any interest in any specific assets of the Company, and the Member shall not have the status of a creditor with respect to any distribution pursuant to Section 15 hereof. The interest of the Member in the Company is personal property.
Nature of Interest. 13. A Member's interest in the Company will be considered personal property, and will at no time be considered real property.
Nature of Interest. DESCRIPTION DOCUMENT REFERENCE PERSON ENTITLED TO INTEREST SEE SCHEDULE
Nature of Interest. Nothing contained in this Section 3.04 is to be construed as providing for assets to be held for the benefit of Executive or his surviving spouse. If Executive or his surviving spouse acquires a right to receive benefit payments pursuant to this Section 3.04, that right is no greater than the right of any unsecured general creditor of Ceridian.
Nature of Interest. 27 Section 3.05.
Nature of Interest. The filing of any such financing statement in the records normally having to do with personal property shall never be construed as in anywise derogating from or impairing this declaration and hereby stated intention of Mortgagor and Mortgagee that everything used in connection with the production of income from the Premises (including, without limitation, all Chattels) and/or adapted for use therein and/or which is described or reflected in this Mortgage, is, and at all times and for all purposes and in all proceedings both legal and equitable shall be, regarded as part of the real estate irrespective of whether (i) any item of collateral is physically attached to the improvements, (ii) serial numbers are used for the better identification of certain items of collateral capable of being thus identified in a recital contained herein or in any list filed with Mortgagee, or (iii) any item of collateral is referred to or reflected in any such financing statement so filed at any time. Similarly, the mention in any such financing statement of (i) the rights in or to the proceeds of any fire and/or hazard insurance policy, or (ii) any award in eminent domain proceedings for a taking or for loss of value, or (iii) Mortgagor's (that is, "Debtor's") interest as lessor in any present or future lease or rights to income growing out of the use and/or occupancy of the Premises, whether pursuant to lease or otherwise, shall never be construed as in anywise altering any of the rights of Mortgagee as determined by this Mortgage or impugning the priority of Mortgagee's security title and lien granted hereby or by any other recorded document, but such mention in any such financing statement is declared to be for the protection of Mortgagee in the event any court or judicial authority shall at any time hold with respect to any matter mentioned in clauses (i), (ii) or (iii) of this sentence that notice of Mortgagee's priority of interest to be effective against a particular class of persons, including but not limited to, the Federal government and any subdivision or entity of the Federal government, must be filed in the Uniform Commercial Code records.
Nature of Interest. Except as otherwise expressly provided in this Agreement, to the fullest extent permitted by law, each of the Member and the Special Member hereby irrevocably waives any right or power that such Person might have to cause the Company or any of its assets to be partitioned, to cause the appointment of a receiver for all or any portion of the assets of the Company, to compel any sale of all or any portion of the assets of the Company pursuant to any applicable law or to file a complaint or to institute any proceeding at law or in equity to cause the dissolution, liquidation, winding up or termination of the Company. The Member shall not have any interest in any specific assets of the Company, and the Member shall not have the status of a creditor with respect to any distribution pursuant to Section 16. The interest of the Member in the Company is personal property.
Nature of Interest. Each Member, the Manager and the Special Purpose Manager acknowledges and agrees that each Interest is a “security” governed by Article 8 of the UCC.
