Common use of Conveyance Requirements Clause in Contracts

Conveyance Requirements. As used herein, the term “Conveyance Requirements” refers to Buyer’s right to require, as a condition to Buyer’s obligation to acquire the Property at Closing, that Seller is able to: (a) convey the Property in substantially its present condition (except as otherwise provided in Section 17 below); and (b) convey to Buyer fee simple title with respect to the Property subject to the Permitted Exceptions but otherwise free and clear of: (i) any mortgage or other lien except the lien for current, non-delinquent Taxes; (ii) any surface lease; and (iii) any other material encumbrance that does not constitute a Permitted Exception. For purposes of this Agreement, Seller shall be deemed to have marketable title if Seller is able to convey the Property in conformance with the Conveyance Requirements.

Conveyance Requirements. As used herein, the term “Conveyance Requirements” refers to Buyer’s right to require, as a condition to Buyer’s obligation to acquire the Property at Closing, that Seller is able to: (a) convey the Property in substantially its present condition (except as otherwise provided in Section 17 15 below); and (b) convey to Buyer fee simple title with respect to the Property subject to the Permitted Exceptions but otherwise free and clear of: (i) any mortgage or other lien except the lien for current, non-delinquent current Taxes; (ii) any surface leaseSurface Lease; and (iii) any other material encumbrance that does not constitute a Permitted Exception. For purposes of this Agreement, Seller shall be deemed to have marketable title if Seller is able to convey the Property in conformance with the Conveyance Requirements.

Conveyance Requirements. As used herein, the term “Conveyance Requirements” refers to Buyer’s right to require, as a condition to Buyer’s obligation to acquire the Property at Closing, that Seller is able to: (a) convey the Property in substantially its present condition (except as otherwise provided in Section 17 16 below); and (b) convey to Buyer fee simple title with respect to the Property subject to the Permitted Exceptions but otherwise free and clear of: (i) any mortgage or other lien except the lien for current, non-delinquent Taxes; (ii) any surface lease; and (iii) any other material encumbrance that does not constitute a Permitted Exception. For purposes of this Agreement, Seller shall be deemed to have marketable title if Seller is able to convey the Property in conformance with the Conveyance Requirements.