Common use of The Purchased Interests Clause in Contracts

The Purchased Interests. The Seller is the record owner of all of the Purchased Interests set forth opposite its name on Section 4.5 of the Disclosure Letter. The Seller has good and valid title to such Purchased Interests, free and clear of all Encumbrances, except (i) Permitted Encumbrances against such Purchased Interests all of which will be discharged on or prior to the Closing Date or in connection with the Closing, (ii) Encumbrances on transfer imposed under applicable securities Laws and (iii) Encumbrances created by the Buyer or its Affiliates.