Common use of Upon Transfer Clause in Contracts

Upon Transfer. Whenever a Person (the "Transferor") Transfers any Veqtor Units or V2 Units to any other Person, other than a Permitted Transferee of the Transferor, (the "Transferee") pursuant to any provision of Article 3 or Article 4 of this Agreement: (a) the Transferor shall be deemed to represent and warrant to the Transferee at the time of Transfer that the Transferor owns beneficially and of record all right, title and interest in and to the Veqtor Units or V2 Units being Transferred, free and clear of all Claims, other than any Claims arising under this Agreement, the DOT or the Veqtor LLC Agreement; and (b) the Transferor shall Transfer to the Transferee all right, title and interest in and to the Veqtor Units or V2 Units, as the case may be, free and clear of all Claims, other than any Claims arising under this Agreement, the DOT or the Veqtor LLC Agreement.