Common use of Title and Description Clause in Contracts

Title and Description. Seller has good, clear, record and marketable fee simple title to the Owned Real Property, free and clear of all mortgages, deeds of trust, ground leases, assessments, leases and tenancies, claims, covenants, conditions, restrictions, easements, judgments or other encumbrances and free of encroachments onto or off of the Owned Real Property, except for (x) easements, covenants, restrictions and similar encumbrances that do not and could not [materially] interfere with the use of the Owned Real Property as currently used and improved, and (y) minor encroachments that do not and could not [materially] adversely affect the value or use of the Owned Real Property as currently used and improved and that could be removed without material cost ((x) and (y) are collectively referred to as “Permitted Encumbrances”), and except for matters set forth on Schedule 2.06(a).

Title and Description. Seller The Company has good, clear, record and marketable fee simple title to the Owned Real Property, free and clear of all mortgages, deeds of trust, ground leases, assessments, leases and tenancies, claims, covenants, conditions, restrictions, easements, judgments or other encumbrances and free of encroachments onto or off of the Owned Real Property, except for (x) easements, covenants, restrictions and similar encumbrances that do not and could not [materially] materially interfere with the use of the Owned Real Property as currently used and improved, and (y) minor encroachments that do not and could not [materially] materially adversely affect the value or use of the Owned Real Property as currently used and improved and that could be removed without material cost ((x) and (y) are collectively referred to as “"Permitted Encumbrances”"), and except for the Mortgages (as defined below) and matters set forth on Schedule 2.06(a)2.10.