Common use of Interests and Property Clause in Contracts

Interests and Property. (a) The Interests are, on the date hereof, and will be on the Closing Date, free and clear of all liens and encumbrances and the Contributor has good, marketable title thereto and the right to convey same in accordance with the terms of this Agreement. Upon delivery of the Contributor’s Assignment and Assumption Agreement to the Acquiror at Closing, good valid and marketable title to the Contributor’s Interests, free and clear of all liens and encumbrances, will pass to the Acquiror. The Interests constitute the only outstanding securities and membership interests of the LLC. (b) Except for the lien created in connection with the Existing Mortgage, the Property is, on the date hereof, and will be on the Closing Date, free and clear of all liens and encumbrances, and the LLC has good, marketable title thereto and the right to convey same. The LLC is the fee simple owner of the Real Property and the sole owner of the Property.

Interests and Property. (a) The Interests are, on the date hereof, and will be on the Closing Date, free and clear of all liens and encumbrances and the Contributor has Contributors have good, marketable title thereto and the right to convey same in accordance with the terms of this Agreement. Upon delivery of the Contributor’s Contributors’ Assignment and Assumption Agreement to the Acquiror Acquirers at Closing, good valid and marketable title to the Contributor’s Contributors’ Interests, free and clear of all liens and encumbrances, will pass to the AcquirorAcquirers. The Interests constitute the only outstanding securities and membership interests of the LLC. (b) Except for the lien created in connection with the Existing Mortgage, the Property is, on the date hereof, and will be on the Closing Date, free and clear of all liens and encumbrances, and the LLC has good, marketable title thereto and the right to convey same. The LLC is the fee simple owner of the Real Property and the sole owner of the Property.

Interests and Property. (a) The Interests are, on the date hereof, and will be on the Closing Date, free and clear of all liens and encumbrances and the Contributor has good, marketable title thereto and the right to convey same in accordance with the terms of this Agreement. Upon delivery of the Contributor’s Assignment and Assumption Agreement to the Acquiror at Closing, good valid and marketable title to the Contributor’s Interests, free and clear of all liens and encumbrances, will pass to the Acquiror. The Interests constitute the only outstanding securities and membership interests of the LLC. (b) Except for the lien created in connection with the Existing MortgageFinancing, the Property is, on the date hereof, and will be on the Closing Date, free and clear of all liens and encumbrances, and the LLC has good, marketable title thereto and the right to convey same. The LLC is the fee simple owner of the Real Property and the sole owner of the Property.