Common use of Ownership of Property; Liens; Equity Interests Clause in Contracts

Ownership of Property; Liens; Equity Interests. Each Property Owner has good record and marketable title in fee simple to, or valid leasehold interests in, all Borrowing Base Properties necessary or used in the ordinary conduct of its business, except for such defects in title as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each applicable Property Owner has good record and marketable fee simple title (or, in the case of Acceptable Ground Leases, a valid leasehold) to the Borrowing Base Property owned by such Property Owner, subject only to Liens permitted by Section 8.01. All of the outstanding Equity Interests in each Property Owner have been validly issued, are fully paid and nonassessable and are owned by the applicable Pledgors free and clear of all Liens (other than Liens permitted by Section 8.01).

Ownership of Property; Liens; Equity Interests. Each Property Owner Mortgagor has good record and marketable title in fee simple to, or valid leasehold interests in, all Borrowing Base Properties necessary or used in the ordinary conduct of its business, except for such defects in title as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each applicable Property Owner Mortgagor has good record and marketable fee simple title (or, in the case of Acceptable Ground Leases, a valid leasehold) to the Borrowing Base Property owned by such Property OwnerMortgagor, subject only to Liens permitted by Section 8.01. All of the outstanding Equity Interests in each Property Owner Mortgagor have been validly issued, are fully paid and nonassessable and are owned by the applicable Pledgors free and clear of all Liens (other than Liens permitted by Section 8.01).

Ownership of Property; Liens; Equity Interests. Each Property Owner has good record and marketable title in fee simple to, or valid leasehold interests in, all Borrowing Base Properties necessary or used in the ordinary conduct of its business, except for such defects in title as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each applicable Property Owner has good record and marketable fee simple title to (or, in the case of Acceptable Ground Leases, a valid leaseholdleasehold interest in) to the Borrowing Base Property owned by such Property Owner, subject only to Liens permitted by Section 8.01. All of the outstanding Equity Interests in each Property Owner have been validly issued, are fully paid and nonassessable and are owned by the applicable Pledgors Loan Party free and clear of all Liens (other than Liens permitted by Section 8.01).