Common use of Transaction Characterization Clause in Contracts

Transaction Characterization. A. It is the intent of the parties that the conveyance of each of the Properties to Buyer be an absolute conveyance in effect as well as form, and the instruments of conveyance to be delivered at Closing are not intended to serve or operate as a mortgage, equitable mortgage, deed of trust, security agreement, trust conveyance or financing or trust arrangement of any kind, nor as a preference or fraudulent conveyance against any creditors of Sellers. After the execution and delivery of the deeds described in Section 11.A, Sellers will have no legal or equitable interest or any other claim or interest in any of the Properties other than as set forth in the Lease and Permitted Subleases. Furthermore, the parties intend:

Transaction Characterization. A. It is the intent of the parties that the conveyance of each of the Sale Properties to Buyer be an absolute conveyance in effect as well as form, and the instruments of conveyance to be delivered at Closing are not intended to serve or operate as a mortgage, equitable mortgage, deed of trust, security agreement, trust conveyance or financing or trust arrangement of any kind, nor as a preference or fraudulent conveyance against any creditors of SellersSeller. After the execution and delivery of the deeds described in Section 11.A, Sellers Seller will have no legal or equitable interest or any other claim or interest in any of the Properties other than as set forth in the Lease and Permitted SubleasesSale Properties. Furthermore, the parties intend:

Transaction Characterization. A. It is the intent of the parties that the conveyance of each of the Properties to Buyer be an absolute conveyance in effect as well as form, and the instruments of conveyance to be delivered at Closing are not intended to serve or operate as a mortgage, equitable mortgage, deed of trust, security agreement, trust conveyance or financing or trust arrangement of any kind, nor as a preference or fraudulent conveyance against any creditors of SellersSeller. After the execution and delivery of the deeds described in Section 11.A, Sellers Seller will have no legal or equitable interest or any other claim or interest in any of the Properties other than as set forth in the Lease and Permitted SubleasesLease. Furthermore, the parties intend: