Common use of Ownership and Encumbrances Clause in Contracts

Ownership and Encumbrances. Assignor is the sole beneficial owner of the Transferred Interests. Except as expressly contemplated by the Operated Documents, Assignor has not previously sold, assigned, encumbered, transferred or conveyed, and, except as contemplated hereby, has no obligation to sell, assign, encumber, transfer or convey, any of its right, title or interest in, to or under the Transferred Interests. At the closing hereunder, Assignor will convey to Assignee all of the right, title and interest of Assignor in, to and under the Transferred Interests.

Ownership and Encumbrances. Assignor is the sole beneficial owner of the Transferred Interests. Except as expressly contemplated by the Operated DocumentsOperative Agreements, Assignor has not previously sold, assigned, encumbered, transferred or conveyed, and, except as contemplated hereby, has no obligation to sell, assign, encumber, transfer or convey, any of its right, title or interest in, to or under the Transferred Interests. At the closing hereunder, Assignor will convey to Assignee all of the right, title and interest of Assignor in, to and under the Transferred Interests.