Existing Title; Definitions Clause Samples

Existing Title; Definitions. Upon payment of the initial option payment as set forth in Section 2.3(a), Optionee accepts title to the Assets as it exists as of the Agreement Effective Time, subject to its right to examine issues related to defects to title arising or occuring during the time after the Agreement Effective Time until the Closing Date, as set forth below. For purposes hereof, the terms set forth below shall have the meanings assigned thereto.