Common use of Conveyance of Fee Title Clause in Contracts

Conveyance of Fee Title. At Closing, Optionor shall convey title to the Owned Property to Optionee (i) in fee simple absolute, subject only to current general and special taxes and assessments and matters of record that are not created by, through, under or with the consent of Optionor or any applicable Underlying Seller after the Effective Date (unless consented to by Optionee in its sole and absolute discretion), and (ii) free and clear of all leases, licenses or other occupancy agreements (collectively, “Leases”), and free and clear of any parties in possession, and Optionor shall cause any and all Leases affecting the Property or any portion thereof to be terminated prior to Closing.

Conveyance of Fee Title. At Closing, each Optionor shall convey title to the Owned Property that it owns to Optionee (i) in fee simple absolute, subject only to current general and special taxes and assessments and matters of record that are not created by, through, under or with the consent of such Optionor or any applicable Underlying Seller after the Effective Date (unless consented to by Optionee in its sole and absolute discretion), and (ii) free and clear of all leases, licenses or other occupancy agreements (collectively, “Leases”), and free and clear of any parties in possession, and each Optionor shall cause any and all Leases affecting the Property in which it owns an interest or any portion thereof to be terminated prior to Closing.