Status of Title to Properties Sample Clauses

Status of Title to Properties. A. State of Title. Contributor shall convey the Properties to Acquiror or Acquiror's designee subsidiary by bargain and sale deeds without covenants against grantor's acts in recordable form (the "Deeds"), and title to the Properties shall be free and clear of all liens and encumbrances and shall be subject only to: (i) those covenants, conditions and restrictions of record which are reviewed and approved by Acquiror within the Inspection Period, (ii) rights of tenants under the Leases, as tenants only, (iii) general real estate taxes for the year in which the Closing occurs and subsequent years, not yet delinquent and (iv) those certain mortgages securing payment of the Existing Indebtedness and more particularly described in Exhibit I attached to this Agreement (the "Existing Mortgages") (the above enumerated exceptions being hereinafter collectively referred to as the "Permitted Exceptions").
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Status of Title to Properties. A. The Properties shall be sold, assigned and conveyed by Seller to Purchaser, and Purchaser shall accept same, subject only to the following (collectively, the "Permitted Encumbrances"):
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Status of Title to Properties. Borrower has valid title or valid leases to all of its material properties and assets (except for such imperfections of title to such properties and assets as do not in the aggregate materially detract from the value thereof to, or the use thereof in, its business).
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Status of Title to Properties. A. State of Title. Contributor shall convey the Land and Improvements to Acquiror or Acquiror's designee by special limited warranty deeds in recordable form (the "Deeds"), and title to the Land and Improvements shall be free and clear of all liens and encumbrances and shall be subject only to: (i) those covenants, conditions and restrictions of record which are reflected in the Title Commitment (as defined below) which is obtained by Contributor, (ii) rights of tenants under the Leases, as tenants only, (iii) general real estate taxes, not yet delinquent, (iv) subject to Section 3D, Existing Mortgages securing payment of Permitted Existing Indebtedness, (v) applicable zoning, building, land use and other governmental restrictions, laws, ordinances, rules and regulations and (vi) all matters that are disclosed by the Survey (as defined below) which is obtained by Contributor for Acquiror (the above enumerated exceptions being hereinafter collectively referred to as the "Permitted Exceptions").
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Status of Title to Properties. The Borrower has valid and marketable title to, or valid and marketable interest in, all of the Mortgaged Properties (other than the "B" Contract and the Supply Contract) and in the respective net revenue interest set forth in the Initial Reserve Report, except for (i) such imperfections of title to such properties and assets as do not in the aggregate materially detract from the value thereof to, or the use thereof in, the business of the Obligors, (ii) Mortgaged Properties disposed of since the date of the Initial Reserve Report in the ordinary course of business, (iii) Mortgaged Properties disposed of since the date of the Initial Reserve Report as permitted by Section 6.01 hereof, and (iv) Liens reflected on the Financial Statements or permitted by Section 6.07 hereof. Schedule 1.01(a) contains a complete listing of all instruments supplementing or amending the Agreement dated January 3, 1928, between Canadian River Gas Company, as Seller, and Amarillo Oil Company, as Buyer, applicable to the Borrower's interests in (including but not limited to, the sale and purchase of) natural gas produced from the West Panhandle Field of Texas. Schedule 1.01(f) contains a complete listing of all contracts for the sale by the Borrower of Hydrocarbons produced from the West Panhandle Field of Texas to which the Borrower is entitled under the "B" Contract. The Borrower owns its interest in the "B" Contract and the Supply Contract free from all claims, liens, charges or encumbrances of any nature or kind except Liens permitted by Section 6.07 hereof. The Borrower has not disposed of any of the Mortgaged Properties between the date of the Initial Reserve Report and the date hereof except as set forth on Schedule 4.05 hereto.
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Status of Title to Properties 
Sample 1

Related to Status of Title to Properties

  • Title to Property The Company and its Subsidiaries have good and marketable title in fee simple to all real property and good and marketable title to all personal property owned by them which is material to the business of the Company and its Subsidiaries, in each case free and clear of all liens, encumbrances and defects except such as are described in Schedule 3(t) or such as would not have a Material Adverse Effect. Any real property and facilities held under lease by the Company and its Subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as would not have a Material Adverse Effect.

  • Real Property; Title to Assets (a) The Company does not own any real property.

  • Title to Properties The Company and each Subsidiary have good record and marketable title in fee simple to, or valid leasehold interests in, all real property necessary or used in the ordinary conduct of their respective businesses, except for such defects in title as could not, individually or in the aggregate, have a Material Adverse Effect. As of the Closing Date, the property of the Company and its Subsidiaries is subject to no Liens, other than Permitted Liens.

  • Title to Properties; Encumbrances The Company does not currently own, nor has it ever owned (a) any real property, (b) any leasehold interests or (c) any buildings, plants, structures and/or equipment. Part 3.6 of the Seller Parties Disclosure Schedule contains a complete and accurate list of all (A) the Assets that the Company purports to own, including all of the properties and assets reflected in the Balance Sheet (except for assets held under capitalized leases disclosed or not required to be disclosed in Part 3.6 of the Seller Parties Disclosure Schedule and personal property sold since the date of the Balance Sheet, as the case may be, in the Ordinary Course of Business), and (B) all of the properties and assets purchased or otherwise acquired by the Company since the date of the Balance Sheet (except for personal property acquired and sold since the date of the Balance Sheet in the Ordinary Course of Business and consistent with past practice), which subsequently purchased or acquired properties and assets (other than inventory and short-term investments) are listed in Part 3.6 of the Seller Parties Disclosure Schedule. The Company is the sole owner and has good and marketable title (or leasehold title, as the case may be) to the Assets free and clear of all Encumbrances, and the Assets reflected in the Balance Sheet are free and clear of all Encumbrances and are not, in the case of real property, subject to any rights of way, building use restrictions, exceptions, variances, reservations, or limitations of any nature except, with respect to all such properties and assets, (i) mortgages or security interests shown on the Balance Sheet as securing specified liabilities or obligations, with respect to which no default (or event that, with notice or lapse of time or both, would constitute a default) exists, (ii) mortgages or security interests incurred in connection with the purchase of property or assets after the date of the Balance Sheet (such mortgages and security interests being limited to the property or assets so acquired), with respect to which no default (or event that, with notice or lapse of time or both, would constitute a default) exists, (iii) liens for current taxes not yet due, and (iv) Encumbrances pursuant to the Pledge Agreement (as defined below) or the Facility Agreement and (v) Encumbrances incurred in the Ordinary Course of the Business, consistent with past practice, or created by the express provisions of the Contracts, each of the type identified on Part 3.6 of the Seller Parties Disclosure Schedule (together, the “Permitted Encumbrances”). All such assets are suitable for the uses to which they are being put or have been put in the Ordinary Course of Business and are in good working order, ordinary wear and tear excepted.

  • Title to Property; Encumbrances (a) The Company does not own any real property or any Structures.

  • Title to Property; Liens The Borrower has good and marketable title to all property purported to be owned by it subject to no Liens other than Permitted Liens.

  • Title to Properties, etc Each of the Borrowers and their Subsidiaries has good and marketable title, in the case of Real Property, and good title (or valid Leaseholds, in the case of any leased property), in the case of all other property, to all of its properties and assets free and clear of Liens other than Permitted Liens. The interests of the Borrowers and their Subsidiaries in the properties reflected in the most recent balance sheet referred to in Section 5.07, taken as a whole, were sufficient, in the judgment of the Borrowers, as of the date of such balance sheet for purposes of the ownership and operation of the businesses conducted by the Borrowers and their Subsidiaries.

  • Status of Title Mortgagor represents and warrants that it is the lawful owner of the Mortgaged Property in fee simple, subject to no liens or encumbrances, except for covenants, conditions, restrictions, easements and rights-of-way of record, if any. Mortgagor represents and warrants that it has full right, power and authority to convey and mortgage the Mortgaged Property and to execute this Mortgage. Mortgagor also agrees to protect, preserve and defend its interest in the Mortgaged Property and title thereto, including full performance of any prior claim or lien; to appear and defend this Mortgage in any action or proceeding affecting or purporting to affect the Mortgaged Property, the lien of this Mortgage thereon or any of the rights of Mortgagee hereunder, and to pay all costs and expenses incurred by Mortgagee in connection with any such action or proceeding, including, without limitation, reasonable attorneys’ fees, whether any such action or proceeding progresses to judgment and whether brought by or against Mortgagee, Mortgagor, or the Mortgaged Property. Mortgagee shall be reimbursed for any such costs and expenses in accordance with the provisions of Paragraph B.2 hereof. Mortgagee may, but shall not be under any obligation to, appear or intervene in any such action or proceeding and retain counsel therein and defend the same or otherwise take such action therein as it may deem advisable or may settle or compromise the same and, for any of such purposes, may expend and advance such sums of money as it may deem necessary, and Mortgagee shall be reimbursed therefor in accordance with the provisions of Paragraph B.2 hereof.

  • Good Title to Property The Company and each of the Subsidiaries has good and valid title to all property (whether real or personal) described in the Registration Statement, the Disclosure Package and the Prospectus as being owned by each of them, in each case free and clear of all liens, claims, security interests, other encumbrances or defects except such as are described in the Registration Statement, the Disclosure Package and the Prospectus and those that would not, individually or in the aggregate materially and adversely affect the value of such property and do not materially and adversely interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries. All of the property described in the Registration Statement, the Disclosure Package and the Prospectus as being held under lease by the Company or a Subsidiary is held thereby under valid, subsisting and enforceable leases, without any liens, restrictions, encumbrances or claims, except those that, individually or in the aggregate, are not material and do not materially interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries.

  • Title to Property and Encumbrances The Company has good and valid title to all properties and assets used in the conduct of its business (except for property held under valid and subsisting leases which are in full force and effect and which are not in default) free of all Liens except Permitted Liens and such ordinary and customary imperfections of title, restrictions and encumbrances as do not in the aggregate constitute a Company Material Adverse Effect.

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