Common use of Transferred Property Clause in Contracts

Transferred Property. Immediately prior to the Closing, (i) Seller shall convey to Liberty Life (or, if so notified by Buyer, to Buyer or Buyer's designee), by documents reasonably satisfactory to Buyer (including, without limitation, a special warranty deed (the "Deed")), good and marketable fee simple title, free of all liens and encumbrances other than Permitted Exceptions, to all plots, pieces and parcels of land located in whole or in part in the County of Greenville, State of South Carolina, and owned by Seller, together with all of Seller's easements, rights of way, privileges, appurtenances and other rights pertaining thereto, all buildings and improvements and fixtures thereon and in a separate ▇▇▇▇ of sale, together with all machinery, equipment and other articles of personal property located therein on the date hereof and used in relation to the Business or attached or appurtenant thereto, or located therein on the date hereof and used in connection therewith (collectively, the "Transferred Property") and (ii) Liberty Life shall deliver to Seller a satisfaction and release of the mortgage and any other security document held by Seller and encumbering the Transferred Property. The Deed shall be in recordable form, duly executed and acknowledged, shall have affixed thereto, at the Seller's sole cost and expense, any requisite surtax and documentary tax stamps, in proper amount, and shall be accompanied by a duly executed and sworn affidavit of title in the form attached hereto as Exhibit C.