Universal Rig Services Corp Clause Samples

Universal Rig Services Corp is the owner of the Rig and the other Assets that are the subject of the invoice issued by it pursuant to clause 6(a)(xvi). Each Vendor has good and marketable title to the Assets owned by it and such Assets are owned by such Vendor free and clear of all Encumbrances. Notwithstanding the foregoing, the Vendors hereby expressly disclose to the Purchaser that the Rig is currently maintained in Peru under temporary import status and, at Closing, will be transferred to the Purchaser under such status. Except as provided in the preceding sentence, no representation and warranty (express or implied) is made regarding the import status of the Rig. No person has any agreement or option or any right capable of becoming an agreement for the purchase, lease or encumbering of the Assets or any of them;