Security Assets. (a) It is, and will at all times be, the sole legal and beneficial owner of its Security Assets. (b) Each of its Security Assets is free from: (i) any Encumbrance (other than any Encumbrance created by a Security Document); and (ii) any interests or claims of third parties other than interests or claims arising by operation of law affecting companies generally.
Appears in 2 contracts
Sources: Security Agreement (GCL Silicon Technology Holdings Inc.), Security Agreement (GCL Silicon Technology Holdings Inc.)