Common use of Title and Transfer Clause in Contracts

Title and Transfer. DFC, or its affiliates, are the legal owner of and have valid and marketable title to the Securitization Residuals, the Non-Performing Loan Trust Residual and the Other Consideration, free and clear of any lien, pledge and encumbrance or any claim of any third party. As of the Closing Date, valid and marketable title to the Securitization Residuals, the Non-Performing Loan Trust Residual and the Other Consideration will pass to the Company free and clear of any lien, pledge and encumbrance or any claim of any third party.

Title and Transfer. DFC, or its affiliates, are the legal owner owners of and have valid and marketable title to the Securitization ResidualsResidual Certificates, the Non-Performing Loan Trust Residual and the Other Consideration, free and clear of any lien, pledge and or encumbrance or any claim of any third party. As of the Closing Date, valid and marketable title to the Securitization ResidualsResidual Certificates, the Non-Performing Loan Trust Residual and the Other Consideration will pass to the Company free and clear of any lien, pledge and pledge, encumbrance or any claim of any third party.