Common use of Ownership of Premises Clause in Contracts

Ownership of Premises. Upon consummation of the Restructuring, subject to Section 6.22, the Operating Company shall be the owner of good and valid fee title to the Owned Real Property, free and clear of all Liens (other than Permitted Liens). During the period in which either of the Sellers, any of the Companies or the Operating Company were the owners or conducted operations on such Owned Real Property, none of them created or permitted the creation of any Liens that would render title to said Owned Real Property unmarketable as of the Closing. Except as set forth in Schedule 4.16(a), all of the land, buildings, structures and other Improvements used in the conduct of the Bulk Gas Business are included in the Real Property. To the knowledge of the Sellers, there are no encroachments or other facts or conditions affecting any parcel of Owned Real Property that would be revealed by an accurate survey or careful physical inspection thereof other than Permitted Real Property Exceptions.

Ownership of Premises. Upon the consummation of the PG Restructuring, subject to Section 6.226.19, the Operating Company shall be the owner of good and valid fee title to the Owned Real Property, free and clear of all Liens (other than Permitted Liens). During the period in which either of the SellersSeller, any of the Companies or the Operating Company or any of their Affiliates were the owners or conducted operations on such Owned Real Property, none of them created or permitted the creation of any Liens that would render title to said Owned Real Property unmarketable as of the Closing. Except as set forth in Schedule 4.16(a), all of the land, buildings, structures and other Improvements primarily used in the conduct of the Bulk Packaged Gas Business are included in the Real Property. To the knowledge of the SellersSeller, there are no encroachments or other facts or conditions affecting any parcel of Owned Real Property that would be revealed by an accurate survey or careful physical inspection thereof other than Permitted Real Property Exceptions.