Common use of Assignment of Ownership Interest Clause in Contracts

Assignment of Ownership Interest. Effective as of the Closing Date, IPT shall grant, assign, transfer, convey and deliver to the Partnership, all of IPT's right, title and interest in and to the Interests free and clear of all liens, encumbrances, security interests and competing claims, other than those contained in the governing documents of the various entities to which the Interests relate (the "GOVERNING AGREEMENTS").