Common use of Preservation of Title Clause in Contracts

Preservation of Title. (i) Each Borrower shall preserve and maintain good, marketable and insurable fee interest or good, legal and valid leasehold interests, as applicable, in the real property in which it holds an interest, and good, legal and valid ownership interest in all of its other properties and assets, in each case, that are necessary to conduct its business in the ordinary course, and each Borrower shall preserve and maintain good, legal and valid title to its respective properties and assets constituting Collateral, in each case free and clear of all Liens other than Permitted Liens. (ii) Each of the Guarantor and the Pledgor shall preserve and maintain good, marketable and insurable fee interest or good, legal and valid leasehold interests, as applicable, in the real property in which it holds an interest, and good, legal and valid ownership interest in all of its other properties and assets, in each case, that are necessary to conduct its business in the ordinary course, except, where the failure to do so has not had, or could not reasonably be expected to have, a Material Adverse Effect, and the Pledgor shall preserve and maintain good, legal and valid title to its properties and assets constituting Collateral, in each case free and clear of all Liens other than Permitted Liens.