TITLE AND CONVEYANCE. (a) Upon payment of the Adjusted Purchase Price to Seller, as herein provided, Seller will assign and convey to Purchaser good and marketable (or as expressly hereinafter provided, insurable) title to the Real Property, if owned by Seller, free and clear of all Encumbrances, except (i) easements for public utilities, applicable zoning ordinances and restrictions of record, provided such items do not render title to the Real Property and Improvements unmarketable or the Real Property and Improvements unusable as a branch bank as presently configured, and (ii) the Encumbrances listed in Schedule 4.8 (a) attached hereto (collectively, the “Permitted Encumbrances”).
Appears in 3 contracts
Samples: Purchase Agreement (Legacy Bancorp, Inc.), Purchase Agreement (First Niagara Financial Group Inc), Purchase Agreement (First Niagara Financial Group Inc)
TITLE AND CONVEYANCE. (a) Upon payment of the Adjusted Purchase Price to Seller, as herein provided, Seller will assign and convey to Purchaser good and marketable insurable (or as expressly hereinafter provided, insurable) title to the Real Property, if owned by Seller, free and clear of all Encumbrances, except (i) easements for public utilities, applicable zoning ordinances and restrictions of record, provided such items do not render title to the Real Property and Improvements unmarketable uninsurable or the Real Property and Improvements unusable as a branch bank as presently configured, and (ii) the Encumbrances listed in Schedule 4.8 (a4.8(a) attached hereto (collectively, the “Permitted Encumbrances”).
Appears in 1 contract
