Common use of The Mortgaged Property Clause in Contracts

The Mortgaged Property. Save as disclosed in any Certificate of Title: (a) the Chargor is the legal and beneficial owner of the Mortgaged Property; (b) there subsists no breach of any law or regulation which affects or would be reasonably likely to affect materially the value of the Mortgaged Property; (c) there are no covenants, agreements, stipulations, reservations, conditions, interest, rights or other matters whatsoever affecting the Mortgaged Property; (d) nothing has arisen or has been created or is subsisting which would be an overriding interest over the Mortgaged Property; (e) no facilities necessary for the enjoyment and use of the Mortgaged Property are enjoyed by the Mortgaged Property on terms entitling any person to terminate or curtail its use; (f) the Chargor has received no notice of any adverse claims by any person in respect of the ownership of the Mortgaged Property or any interest in it, nor has any acknowledgement been given to any person in respect of the Mortgaged Property; and (g) the Mortgaged Property is free from any Security Interest or any tenancies or licences.

The Mortgaged Property. Save as disclosed in any Certificate of Title:Report on Title or otherwise in writing to the Security Trustee:- (a) the Chargor is the legal and beneficial owner of the Mortgaged Property; (b) to the best of the Chargor's knowledge, information and belief, there subsists no breach of any law or regulation which affects or would be reasonably likely to might affect materially the value of the Mortgaged Property; (c) there are no covenants, agreements, stipulations, reservations, conditions, interest, rights or other matters whatsoever affecting the Mortgaged Property; (d) nothing has arisen or has been created or is subsisting which would be an overriding interest over the Mortgaged Property; (e) to the best of the Chargor's knowledge, information and belief, no facilities necessary for the enjoyment and use of the Mortgaged Property are enjoyed by the Mortgaged Property on terms entitling any person to terminate or curtail its use; (f) the Chargor has received no notice of any adverse claims by any person in respect of the ownership of the Mortgaged Property or any interest in it, nor has any acknowledgement been given to any person in respect of the Mortgaged Property; and (g) the Mortgaged Property is free from any Security Interest or any tenancies or licences, except as permitted by both the Senior Credit Agreement and the Junior Credit Agreement.