Common use of Transfer Filings Clause in Contracts

Transfer Filings. On the Closing Date, immediately upon the sale under this Agreement, the Recovery Property transferred on the Closing Date shall be validly transferred and sold to the Issuer, the Issuer shall own all such Recovery Property, free and clear of all Liens, except for the Lien arising under Section 5 of the Act, the Financing Order, and all submissions, filings and action to be made or taken by the Seller (including filings with the NYPSC under the Act) necessary in any jurisdiction to give the Issuer a perfected ownership interest (subject to any Lien created by the Issuer or by the Act in favor of the Holder under the basic documents or the Act) in the Recovery Property shall have been made.