Common use of Title to the Project Clause in Contracts

Title to the Project. (a) The Project (and any assets ancillary thereto) are the sole assets of the Partnership and the operation and maintenance of the Project is the sole business in which the Partnership is engaged. The Partnership owns all of the rights, title and interest in and to the Project, free and clear of any claims, liens, voting agreements, pledges, third party purchase rights or encumbrances other than Permitted Encumbrances. (b) BOP has heretofore obtained a date-down to the Partnership’s existing owner’s title insurance policy for the Project and the title company has issued or agreed to issue endorsements to such title policy as required by BOP. (c) To the Knowledge of the TPG Parties, there is no material violation of any easement, covenant, condition, restriction or agreement contained in any covenants, conditions or restrictions or similar instruments including, without limitation, any declaration, planned community instrument, encumbering or benefiting the Project.