Title and Description. Seller holds a good, clear, marketable, valid and enforceable leasehold interest in the Leased Real Property pursuant to the Leases, subject only to the right of reversion of the landlord or lessor under the Leases, free and clear of all other prior or subordinate interests, including, without limitation, mortgages, deeds of trust, ground leases, leases, subleases, assessments, tenancies, claims, covenants, conditions, restrictions, easements, judgments or other 15The representation in (i) should be included as to all leases. The representations in (ii)–(iv) should only be used where the seller is responsible for taxes and maintenance, and includes representations that may not be appropriate or may need to be modified if the seller leases property on another basis. Consult with members of the real estate department if appropriate. encumbrances or matters affecting title, and free of encroachments onto or off of the Leased Real Property, except for (x) easements, covenants, restrictions and similar encumbrances that do not and could not [materially] interfere with the use of the Leased Real Property as currently used and improved, and (y) minor encroachments that do not and could not [materially] adversely affect the value or use of the Leased Real Property as currently used and improved, and that could be removed without material cost ((x) and (y) are collectively referred to as “Permitted Encumbrances”) except for matters set forth on Schedule 2.06(b).
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