Common use of Ownership and Encumbrances Clause in Contracts

Ownership and Encumbrances. Borrower has good title, or valid leasehold interests in, all of its properties and assets, real and personal. None of the properties and assets of Borrower are subject to any lien, encumbrance, security interest or other claim of any nature, except liens and encumbrances in favor of the Bank and existing liens and encumbrances disclosed in all financial statements mentioned in Section 5.04 or set forth on the schedule attached as Exhibit 5.09.

Ownership and Encumbrances. Borrower has good title, or valid leasehold interests in, all of its properties and assets, real and personal. None of the properties and assets of any Borrower are subject to any lien, encumbrance, security interest or other claim of any nature, except liens and encumbrances in favor of the Bank and existing liens and encumbrances disclosed in all financial statements mentioned in Section 5.04 or set forth on the schedule attached as Exhibit 5.09.