Common use of Documents of Transfer Clause in Contracts

Documents of Transfer. The sale, transfer, assignment and delivery of the Purchased Assets shall be effected by the execution and delivery by the Seller to the Purchaser of general warranty deeds, bills of sale, endorsements, assignments and other instruments of transfer and conveyance reasonably satisfactory in form and substance to counsel for the Seller and the Purchaser. At the Closing, the Seller shall take steps necessary to put the Purchaser in possession and operating control of the Purchased Assets, and shall deliver keys, combinations, codes and other necessary access devices and information relating to the Branches. Good and marketable fee simple title to the Real Property shall be conveyed. The Seller shall cause all deeds to secure debt and other liens encumbering title to the Real Property to be paid in full and cancelled of record at or before the Closing; in the event the Seller fails to do so, the Purchaser may, at its option (without obligation) cause the same to be paid and released of record, and the Purchaser shall receive a credit against the Purchase Price for all amounts expended in connection therewith.