Common use of Inability to Convey Clause in Contracts

Inability to Convey. Nothing contained in this Agreement shall be deemed to require the Seller to take or bring any action or proceeding or any other steps to remove any title exception or to expend any moneys therefor, nor shall the Buyer have any right of action against the Seller, at law or in equity, for the Seller's inability to convey title to the Properties subject only to the Permitted Exceptions, provided, however, that Seller shall be obligated to remove on or before each Closing (i) any mortgage created by Seller encumbering the Properties then being transferred (with the exception of the ▇▇▇▇▇▇▇▇ Property, with respect to which the existing mortgage shall be assumed by Buyer); (ii) any Liens which can be removed by the payment of a liquidated sum of money, in the aggregate, of up to $250,000 with respect to each Property, (iii) any liens intentionally placed upon the Property then being transferred by Seller after the date hereof without Buyer's prior written consent; and (iv) any Title/Survey Objection with respect to the Property then being transferred that Seller has agreed to cure or caused to be removed pursuant to Section 6.2(a) hereof.