Liens and Title Defects. Each Seller covenants that, between the Effective Date and the Closing Date, it will not voluntarily create or cause any lien, encumbrance or other material defect to title to attach to its Property (other than Leases and Property Contracts as provided in Section 7.1) unless Purchaser approves such lien, encumbrance or other title matter, which approval shall not be unreasonably withheld, conditioned or delayed. If Purchaser approves any such subsequent lien, encumbrance or other title matter, the same shall be deemed a Permitted Encumbrance for all purposes hereunder. If a Seller defaults in its obligations under this Section 7.3, Purchaser may exercise any of its remedies under Section 10.2.
Appears in 5 contracts
Samples: Purchase and Sale Contract, Purchase and Sale Contract (Century Properties Fund Xvi), Purchase and Sale Contract (Angeles Income Properties LTD 6)
