Status of Title to Properties Sample Clauses

The 'Status of Title to Properties' clause defines the legal standing and ownership rights associated with specific properties referenced in an agreement. It typically outlines whether the seller or party in question holds clear, marketable, and unencumbered title to the property, and may require disclosure of any liens, claims, or defects affecting ownership. This clause ensures that the buyer or receiving party is informed about any potential issues with the property's title, thereby reducing the risk of future disputes or unexpected claims.
Status of Title to Properties. A. State of Title. Contributor shall convey the Properties to Acquiror or Acquiror's designee subsidiary by bargain and sale deeds without covenants against grantor's acts in recordable form (the "Deeds"), and title to the Properties shall be free and clear of all liens and encumbrances and shall be subject only to: (i) those covenants, conditions and restrictions of record which are reviewed and approved by Acquiror within the Inspection Period (as defined below), (ii) rights of tenants under the Leases, as tenants only, (iii) general real estate taxes for the year in which the Closing occurs and subsequent years, not yet delinquent and (iv) those certain mortgages securing payment of the Existing Indebtedness and more particularly described in Exhibit I attached to this Agreement (the "Existing Mortgages") (the above enumerated exceptions being hereinafter collectively referred to as the "Permitted Exceptions").
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Status of Title to Properties. The Borrower has valid and marketable title to, or valid and marketable interest in, all of the Mortgaged Properties (other than the "B" Contract and the Supply Contract) and in the respective net revenue interest set forth in the Initial Reserve Report, except for (i) such imperfections of title to such properties and assets as do not in the aggregate materially detract from the value thereof to, or the use thereof in, the business of the Obligors, (ii) Mortgaged Properties disposed of since the date of the Initial Reserve Report in the ordinary course of business, (iii) Mortgaged Properties disposed of since the date of the Initial Reserve Report as permitted by Section 6.01 hereof, and (iv) Liens reflected on the Financial Statements or permitted by Section 6.07 hereof. Schedule 1.01(a) contains a complete listing of all instruments supplementing or amending the Agreement dated January 3, 1928, between Canadian River Gas Company, as Seller, and Amarillo Oil Company, as Buyer, applicable to the Borrower's interests in (including but not limited to, the sale and purchase of) natural gas produced from the West Panhandle Field of Texas. Schedule 1.01(f) contains a complete listing of all contracts for the sale by the Borrower of Hydrocarbons produced from the West Panhandle Field of Texas to which the Borrower is entitled under the "B" Contract. The Borrower owns its interest in the "B" Contract and the Supply Contract free from all claims, liens, charges or encumbrances of any nature or kind except Liens permitted by Section 6.07 hereof. The Borrower has not disposed of any of the Mortgaged Properties between the date of the Initial Reserve Report and the date hereof except as set forth on Schedule 4.05 hereto.
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Status of Title to Properties. A. The Properties shall be sold, assigned and conveyed by Seller to Purchaser, and Purchaser shall accept same, subject only to the following (collectively, the "Permitted Encumbrances"): (i) those encumbrances and other matters expressly listed for the Properties set forth in Exhibit H hereof, as, if necessary, the same Exhibit H shall be updated at or prior to Closing with such additional exceptions to title as Purchaser in its sole and absolute discretion elects to accept as Permitted Encumbrances; (ii) the state of facts disclosed on the surveys of the Properties identified in Exhibit H-1 hereof the (the "Surveys");
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Status of Title to Properties. A. State of Title. Contributor shall convey the Land and Improvements to Acquiror or Acquiror's designee by special limited warranty deeds in recordable form (the "Deeds"), and title to the Land and Improvements shall be free and clear of all liens and encumbrances and shall be subject only to: (i) those covenants, conditions and restrictions of record which are reflected in the Title Commitment (as defined below) which is obtained by Contributor, (ii) rights of tenants under the Leases, as tenants only, (iii) general real estate taxes, not yet delinquent, (iv) subject to Section 3D, Existing Mortgages securing payment of Permitted Existing Indebtedness, (v) applicable zoning, building, land use and other governmental restrictions, laws, ordinances, rules and regulations and (vi) all matters that are disclosed by the Survey (as defined below) which is obtained by Contributor for Acquiror (the above enumerated exceptions being hereinafter collectively referred to as the "Permitted Exceptions").
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Status of Title to Properties. Borrower has valid title or valid leases to all of its material properties and assets (except for such imperfections of title to such properties and assets as do not in the aggregate materially detract from the value thereof to, or the use thereof in, its business).
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Status of Title to Properties 
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Related to Status of Title to Properties

  • Title to Property The Company and its Subsidiaries have good and marketable title in fee simple to all real property and good and marketable title to all personal property owned by them which is material to the business of the Company and its Subsidiaries, in each case free and clear of all liens, encumbrances and defects except such as are described in Schedule 3(t) or such as would not have a Material Adverse Effect. Any real property and facilities held under lease by the Company and its Subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as would not have a Material Adverse Effect.

  • Real Property; Title to Assets (a) Section 3.12(a) of the Company Disclosure Schedule sets forth the address and description of each Owned Real Property (including the particulars and the issue date of the State-owned Land Use Certificate and Building Ownership Certificate for each Owned Real Property in the PRC). With respect to each Owned Real Property: (i) the relevant Group Company has good and marketable title (or, in the PRC, validly granted land use rights or building ownership rights, as applicable) to such Owned Real Property, free and clear of all Liens, except Permitted Encumbrances, (ii) no Group Company has leased or otherwise granted to any person the right to use or occupy such Owned Real Property or any portion thereof, (iii) there are no outstanding options, rights of first offer or rights of first refusal to purchase such Owned Real Property or any portion thereof or interest therein, and (iv) the relevant Group Company is the only party in possession of such Owned Real Property. No Group Company is a party to any Contract, agreement or option to purchase any material real property or interest therein. (b) Section 3.12(b) of the Company Disclosure Schedule sets forth the address of each of the top twenty Leased Real Properties, as measured by unaudited revenue for the period from January 1, 2017 through June 30, 2017, and a true and complete list of all Leases to which such Leased Real Properties are subject (including the date and name of the parties to each such Lease). The Company has delivered or otherwise made available to Parent a true and complete copy of each such Lease. Except as would not otherwise be material to the Group Companies, taken as a whole, with respect to each of the Material Leases: (i) such Material Lease is legal, valid, binding, enforceable and in full force and effect, subject to the Bankruptcy and Equity Exception; (ii) the Group Companies’ possession and quiet enjoyment of the Leased Real Property under such Material Lease has not been disturbed and, to the knowledge of the Company, there are no disputes with respect to such Lease; and (iii) neither any Group Company nor, to the knowledge of the Company, any other party to the Material Lease is in breach or default under such Material Lease, and no event has occurred or circumstance exists which, with the delivery of notice, the passage of time or both, would constitute such a breach or default, or permit the termination, modification or acceleration of rent under such Material Lease. (c) The Owned Real Property identified in Section 3.12(a) of the Company Disclosure Schedule and the Leased Real Property identified in Section 3.12(b) of the Company Disclosure Schedule (collectively, the “Company Real Property”) comprise all of the material real property used or intended to be used in, or otherwise related to, the business of the Group Companies as of the Original Execution Date. All certificates of occupancy and Permits of any Governmental Authority necessary or useful for the current use and operation of each Company Real Property have been obtained and have been complied with in all material respects. No default or violation, or event that with the lapse of time or giving of notice or both would become a default or violation, has occurred in the due observance of any such Permit. There does not exist any actual or, to the knowledge of the Company, threatened or contemplated condemnation or eminent domain proceedings that affect any Company Real Property or any part thereof, and no Group Company has received any notice, oral or written, of the intention of any Governmental Authority or other person to take or use all or any part thereof. (d) To the knowledge of the Company, (i) all buildings, structures, improvements, fixtures, building systems and equipment, and all components thereof, included in the Company Real Property (the “Improvements”) are in good condition and repair and sufficient for the operation of the business of the Group Companies, (ii) there are no structural deficiencies or latent defects materially affecting any of the Improvements, and (iii) there are no facts or conditions affecting any of the Improvements which would materially interfere with the use or occupancy of the Improvements or any portion thereof in the operation of the business of the Company and the Company Subsidiaries. (e) Except as would not have, individually or in the aggregate, a Company Material Adverse Effect, the Company and its Subsidiaries have good and marketable title to, or a valid and binding leasehold interest in, all other properties and assets necessary to conduct their respective businesses as currently conducted (excluding Owned Real Property, Leased Real Property and Intellectual Property), in each case free and clear of all Encumbrances, except Permitted Encumbrances. The material machinery, equipment and other material tangible personal property and assets owned or used by the Company and its Subsidiaries are (i) usable in the ordinary course of business and, in all material respects, are adequate and suitable for the uses to which they are being put, and (ii) are in good and working order, repair and operating condition, reasonable wear and tear and immaterial defects excepted.

  • Title to Properties The Company and each of its subsidiaries has good and marketable title to all the properties and assets reflected as owned in the financial statements referred to in Section 1(i) above (or elsewhere in the Prospectus), in each case free and clear of any security interests, mortgages, liens, encumbrances, equities, claims and other defects, except such as do not materially and adversely affect the value of such property and do not materially interfere with the use made or proposed to be made of such property by the Company or such subsidiary. The real property, improvements, equipment and personal property held under lease by the Company or any subsidiary are held under valid and enforceable leases, with such exceptions as are not material and do not materially interfere with the use made or proposed to be made of such real property, improvements, equipment or personal property by the Company or such subsidiary.

  • Title to Properties; Encumbrances Part 3.6 of the Disclosure Letter contains a complete and accurate list of all real property, leaseholds, or other interests therein owned by any Acquired Company. [Sellers have delivered or made available to Buyer copies of the deeds and other instruments (as recorded) by which the Acquired Companies acquired such real property and interests, and copies of all title insurance policies, opinions, abstracts, and surveys in the possession of Sellers or the Acquired Companies and relating to such property or interests.] The Acquired Companies own (with good and marketable title in the case of real property, subject only to the matters permitted by the following sentence) all the properties and assets (whether real, personal, or mixed and whether tangible or intangible) that they purport to own [located in the facilities owned or operated by the Acquired Companies or reflected as owned in the books and records of the Acquired Companies], including all of the properties and assets reflected in the Balance Sheet and the Interim Balance Sheet (except for assets held under capitalized leases disclosed or not required to be disclosed in Part 3.6 of the Disclosure Letter and personal property sold since the date of the Balance Sheet and the Interim Balance Sheet, as the case may be, in the Ordinary Course of Busine ss), and all of the properties and assets purchased or otherwise acquired by the Acquired Companies since the date of the Balance Sheet (except for personal property acquired and sold since the date of the Balance Sheet in the Ordinary Course of Business and consistent with past practice) [, which subsequently purchased or acquired properties and assets (other than inventory and short-term investments) are listed in Part 3.6 of the Disclosure Letter]. All material properties and assets reflected in the Balance Sheet and the Interim Balance Sheet are free and clear of all Encumbrances and are not, in the case of real property, subject to any rights of way, building use restrictions, exceptions, variances, reservations, or limitations of any nature except, with respect to all such properties and assets, (a) mortgages or security interests shown on the Balance Sheet or the Interim Balance Sheet as securing specified liabilities or obligations, with respect to which no default (or event that, with notice or lapse of time or both, would constitute a default) exists, (b) mortgages or security interests incurred in connection with the purchase of property or assets after the date of the Interim Balance Sheet (such mortgages and security interests being limited to the property or assets so acquired), with respect to which no default (or event that, with notice or lapse of time or both, would constitute a default) exists, (c) liens for current taxes not yet due, and (d) with respect to real property, (i) minor imperfections of title, if any, none of which is substantial in amount, materially detracts from the value or impairs the use of the property subject thereto, or impairs the operations of any Acquired Company, and

  • Title to Purchased Assets Seller owns and has good title to the Purchased Assets, free and clear of Encumbrances.