Seller’s Intent Clause Samples
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Seller’s Intent. It is the intention of the Seller that the transfer and assignment contemplated by this Agreement shall constitute an outright conveyance of ownership of the Transferred Assets from the Seller to the Buyer under applicable state law and that the beneficial interest in and title to the Transferred Assets shall not be part of the Seller’s estate in the event of the filing of a bankruptcy petition by or against the Seller under any bankruptcy law. In the event that, notwithstanding the intent of the Seller, the transfer and assignment contemplated hereby is held not to be a conveyance of ownership, this Agreement shall constitute a grant of a security interest in the property referred to in this Section by the Seller for the benefit of the Buyer to secure the deemed repayment obligation associated with the deemed borrowing by the Seller in such circumstance.
Seller’s Intent. Seller intends:
3.2.10.1 To construct and operate the Facility in accordance with Prudent Electrical Practices, and in accordance with, and subject to the terms of this Agreement;
3.2.10.2 To supply the Contract Capacity and Net Energy of the Facility throughout the Term of this Agreement in accordance with the provisions of this Agreement; and
3.2.10.3 [if Seller will be a single purpose vehicle, that its sole business shall be the ownership and operation of the Facility.]
Seller’s Intent. Such Seller has not entered into any transaction hereunder for the purpose or with the intent of absorbing losses that would otherwise be borne by the Purchaser or any other party to the Facility Documents.