Common use of Legal and beneficial owner Clause in Contracts

Legal and beneficial owner. Subject to the provisions of the Credit Facility Agreement or the relevant Security Agreements, each of them is the legal and beneficial owner (in Romanian, proprietar legal si unic) of, and has good and valid title (in Romanian, titlu valabil şi neafectat de condiţii) to, each of its assets which is expressed to be the subject of the Security Agreements.