Common use of Ownership of the Personal Property Clause in Contracts

Ownership of the Personal Property. Seller has good and valid title to the Personal Property (other than the Excluded Personal Property) and the same is (or will be at Closing) free and clear of all Liens, charges and encumbrances, other than the rights of any vendors or suppliers under Contracts and any Permitted Exceptions.

Ownership of the Personal Property. Seller has The Sellers have good and valid title to the Personal Property (other than the Excluded Personal Property) and the same is (or will be at Closing) free and clear of all Liensliens, charges and encumbrances, other than the rights of any vendors or suppliers under Contracts and Contracts, any Permitted ExceptionsExceptions and the rights, if any, of the Franchisor under any applicable Franchise Agreement and the Manager under any applicable Management Agreement.