Common use of Ownership of Mortgaged Property Clause in Contracts

Ownership of Mortgaged Property. Borrower hereby represents, warrants and covenants that, as of the Closing Date, Borrower owns the working interests, royalty interests and net revenue interests in the oil and gas leasehold estate for the Mortgaged Property covered by the Mortgages as represented to Bank and free and clear of all Liens.

Ownership of Mortgaged Property. Borrower hereby represents, warrants and covenants that, that as of the Closing Date, Borrower owns will own the working interests, royalty interests and net revenue interests in the oil and gas leasehold estate for the Mortgaged Property covered by the Mortgages Mortgage as represented to Bank and free and clear of all Liens.

Ownership of Mortgaged Property. Borrower hereby represents, warrants and covenants that, that as of the Closing Date, Date Borrower owns will own the working interests, royalty interests and net revenue interests in the oil and gas leasehold estate for constituting the Mortgaged Property covered by the Mortgages Mortgage as represented to Bank and free and clear of all LiensLenders.

Ownership of Mortgaged Property. The Borrower hereby represents, warrants and covenants that, that as of the Closing Date, Date the Borrower owns will own the working interests, royalty interests and net revenue interests in the oil and gas leasehold estate for the Mortgaged Property covered by the Mortgages Mortgage or as listed in the Initial Engineering Report, or both, as represented in writing to Bank and free and clear of all Liensthe Bank.

Ownership of Mortgaged Property. Each Borrower hereby represents, warrants and covenants that, that as of the Closing Date, such Borrower owns will own the working interests, royalty interests and net revenue interests in the oil and gas leasehold estate for the Mortgaged Property covered by the Mortgages Mortgage as represented to Bank and free and clear of all Liens, except Liens arising under this Agreement.