Common use of Ownership of Property; Liens; Investments Clause in Contracts

Ownership of Property; Liens; Investments. (a) Each Loan Party has good record and marketable title in fee simple to, or valid leasehold interests in, each of the Unencumbered Borrowing Base Properties and/or all other real property 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. (b) The property of each Loan Party is subject to no Liens, other than Liens set forth on Schedule 5.08(b) and Liens permitted by Section 7.01. (c) Schedule 5.08(c) sets forth a complete and accurate list of all Investments held by any Consolidated Party on the Closing Date, showing as of the Closing Date the amount, obligor or issuer and maturity, if any, thereof.

Ownership of Property; Liens; Investments. (a) Each Loan Party and each of its respective Subsidiaries has good record good, legal and marketable valid title in fee simple to, or valid leasehold interests in, each of the Unencumbered Borrowing Base Properties and/or all other real property necessary or used in the ordinary conduct of its business, except for where the failure to have such defects good title or interest in title as could such property would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. (b) The As of the Closing Date, the property of each Loan Party is subject to no Liens, other than Liens set forth on Schedule 5.08(b) ), and Liens as otherwise permitted by Section 7.01. (c) Schedule 5.08(c) sets forth a complete and accurate list of all Investments held by any Consolidated Loan Party on as of the Closing Date, showing as of the Closing Date date hereof the amount, obligor or issuer and maturity, if any, thereof.