No Division Clause Samples
The No Division clause prohibits the splitting or dividing of the contract or its subject matter among multiple parties or entities. In practice, this means that the rights and obligations under the agreement must remain whole and cannot be assigned, transferred, or apportioned in parts to different individuals or organizations. This clause ensures that the contract is performed as a single, unified arrangement, preventing complications or disputes that could arise from fragmented responsibilities or entitlements.
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No Division. Notwithstanding Section 18- 217 of the Delaware Limited Liability Company Act or the Depositor’s limited liability company agreement, for so long as the Notes remain Outstanding, the Depositor shall not divide or enter into a plan of division within the meaning of Section 18- 217 of the Delaware Limited Liability Company Act.
No Division. Notwithstanding Section 18- 217 of the LLC Act or the Depositor’s limited liability company agreement, for so long as the Notes remain Outstanding, the Depositor shall not divide or enter into a plan of division within the meaning of Section 18- 217 of the LLC Act.
No Division. Notwithstanding anything to the contrary contained in this Agreement or any other Loan Document, (i) neither Borrower nor Equity Pledgor shall enter into (or agree to enter into) any Division and (ii) none of the provisions in this Agreement nor any other Loan Document, shall be deemed to permit any Division with regard to Borrower or Equity Pledgor.
No Division. No Seller or REO Subsidiary shall effect a “Division” into two or more domestic limited liability companies pursuant to and in accordance with Section 18-217 of Delaware Limited Liability Company Act, 6 Del. C. §§ 18-101 et seq., as amended.
No Division. The Facility comprises only one Advance and is not further divided.