Common use of Ownership of Premises Clause in Contracts

Ownership of Premises. The Company or one of its --------------------- Subsidiaries is the owner of good and insurable fee title to the land described on Section 3.1(q)(i) of the Company Disclosure Schedule and to all of the buildings, structures and other improvements located thereon (collectively, the "Company Owned Real Property") free and clear of all Title Defects (as hereinafter defined) except as would not have a Material Adverse Effect with respect to the Company. The Company Owned Real Property constitutes all of the real property owned by the Company and its Subsidiaries on the date hereof. As used in this Agreement, "Title Defects" shall mean and include any mortgage, deed of trust, lien, pledge, security interest, claim, lease, charge, option, right of first refusal, easement, restrictive covenant, encroachment or other survey defect, encumbrance or other restriction or limitation whatsoever.

Ownership of Premises. The Company or one of its --------------------- Subsidiaries is the owner of good and insurable fee title to the land described on Section 3.1(q)(i) of the Company Disclosure Schedule and to all of the buildings, structures and other improvements located thereon (collectively, the "Company Owned Real Property") free and clear of all Title Defects (as hereinafter defined) except as would not have a Material Adverse Effect with respect to the Company. The Company Owned Real Property constitutes all of the real property owned by the Company and its Subsidiaries on the date hereof. As used in this Agreement, "Title Defects" shall mean and include any mortgage, deed of trust, lien, pledge, security interest, claim, lease, charge, option, right of first refusal, easement, restrictive covenant, encroachment or other survey defect, encumbrance or other restriction or limitation whatsoever.