Common use of Title to Common Units Clause in Contracts

Title to Common Units. Seller has good and valid title to the Common Units, is the sole record, legal and beneficial owner of the Common Units, and has the full right to transfer the Common Units. The Common Units are owned by Seller free and clear of any lien, pledge, security interest, charge, hypothecation, security agreement, security arrangement, option, purchase agreement, redemption agreement, call or right to subscribe relating to the Transferred Interest, or encumbrance or other adverse claim against title of any kind, except as set forth in the Operating Agreement (collectively, “Liens”). Upon delivery of the Common Units to Buyer on the Closing Date against payment therefor as contemplated hereby, Seller will transfer to Buyer good and valid title to the Common Units free and clear of any and all Liens.