Seller's Interest Sample Clauses
The "Seller's Interest" clause defines the rights and entitlements of the seller in a transaction, particularly regarding the property or goods being sold until the sale is completed. Typically, this clause clarifies that the seller retains a legal or beneficial interest in the asset until certain conditions, such as full payment or transfer of title, are met. For example, in a real estate sale, the seller may maintain an interest in the property until the buyer fulfills all contractual obligations. The core function of this clause is to protect the seller's position by ensuring they have recourse or control over the asset if the buyer defaults or fails to meet agreed terms.
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Seller's Interest. Except for the conveyances hereunder, in connection with any transaction permitted by Section 7.02 and as provided in Section 6.03, such Seller agrees not to transfer, assign, exchange or otherwise convey or pledge, hypothecate or otherwise grant a security interest in the Sellers’ Interest represented by the Bank Certificate or any Supplemental Certificate and any such attempted transfer, assignment, exchange, conveyance, pledge, hypothecation or grant shall be void.
Seller's Interest. Seller covenants and warrants that at the closing it will execute and deliver a recordable assignment and ▇▇▇▇ of sale to convey to Buyer 100% of the leasehold working interest in the lands covered by the Leases, subject to royalties, overriding royalties and other expense-free burdens on production which, as to each Lease, do not exceed 12.5% of 8/8ths, such that the net revenue interest in the Leases conveyed to Buyer shall not be less than 87.5%, together with the Additional Property. There may exist other owners of the working interest and it shall be Seller’s responsibility to obtain assignments of these interests to convey the entire working interest to the Buyer.
Seller's Interest. Except for the conveyances hereunder, in ----------------- connection with any transaction permitted by Section 7.02 or 7.05 and as provided in Sections 2.08(f) and 6.03, the Seller agrees not to transfer, assign, exchange or otherwise convey or pledge, hypothecate or otherwise grant a security interest in the Seller's Interest, whether represented by the Bank Certificate or any Supplemental Certificate or by any uncertificated interest in the Seller's Interest, and any such attempted transfer, assignment, exchange, conveyance, pledge, hypothecation or grant shall be void; provided, -------- however, that nothing in this Section 2.07(c) shall prevent the owner ------- of an interest in the Seller's Interest, whether uncertificated or represented by a certificate, from granting to an Affiliate a participation interest or other beneficial interest in the rights to receive cash flows related to the Seller's Interest, if (i) such interest does not grant such Affiliate any rights hereunder or delegate to such Affiliate any obligations or duties hereunder and (ii) the transferor of such interest obtains the prior written consent of the Bank and (iii) after giving effect to such transfer, the interest in the Seller's Interest owned directly by the Bank represents an undivided ownership interest in two percent (2.0%) or more of the Trust Assets.
Seller's Interest. Seller owns all right, title and interest in and to the Facility, free and clear of all liens and encumbrances other than liens and encumbrances related to third-party financing of the Facility.
Seller's Interest. Except in connection with (i) any transaction permitted by Section 9.4 or (ii) Transfers with respect to which the Rating Agency Condition shall have been satisfied, the Seller agrees not to Transfer the portion of the Retained Interest owned by it and any such attempted Transfer shall, subject to any applicable Requirements of Law, be void.
Seller's Interest. Seller covenants and warrants that it will convey to Buyer at closing an undivided Ninety percent (90%) of the entire working interest in Leases together with outstanding overriding royalty interest burdening said working interest, which interests shall collectively represent not less than the Net Revenue Interest (“NRI”) in each of the Leases set forth on Exhibit “A.” An undivided Ninety percent (90%) of any overriding royalty interests, production payments, net revenue interest or other right, title or interest in and to the Leases (except landowner royalty interests) which are owned by Seller or any affiliate, or representative of Seller shall be transferred to Buyer on the Effective Date and said interest shall be merged into the working interest and become a part thereof on the Effective Date.
Seller's Interest. The interests described in Exhibit "A" constitute all of Sellers' interest in the Oil and Gas Properties and Wells, it being Sellers' int▇▇▇ ▇o sell to Buyer all of Sellers' right, title and interest in the Oil and Gas Properties and Wells, except as otherwise ▇▇▇▇ifically set forth in Exhibit "A".
Seller's Interest. Seller will not retain any interest in any Sold Receivable hereunder and each sale of a Sold Receivable hereunder shall be of all of Seller's right, title and interest in such Sold Receivable.
Seller's Interest. Seller covenants and warrants that it will convey to Buyer at closing the entire working interest in Leases together with outstanding overriding royalty interest burdening said working interest, which interests shall collectively represent not less than the Net Revenue Interest (“NRI”) in each of the Leases set forth on Exhibit “A.” An undivided One Hundred percent (100%) of any overriding royalty interests, production payments, net revenue interest or other right, title or interest in and to the Leases (except landowner royalty interests) which are owned by Seller or any affiliate, or representative of Seller shall be transferred to Buyer on the Effective Date and said interest shall be merged into the working interest and become a part thereof on the Effective Date.
Seller's Interest be it fee interest or leasehold interest, in the Real Property;