Title and Permitted Encumbrances Sample Clauses

Title and Permitted Encumbrances. Mortgagor has, and Mortgagor ----------------------------------- covenants to maintain, good and defensible title to the Property, free and clear of all liens, security interests, and encumbrances except for (i) the contracts, agreements, burdens, encumbrances and other matters set forth in the descriptions of certain of the Mortgaged Properties on Exhibit A hereto, (ii) the liens and security interests evidenced by this Mortgage, (iii) statutory liens for taxes which are not yet delinquent, (iv) liens under operating agreements, pooling orders and unitization agreements, and mechanics' and materialmen's liens, with respect to obligations which are not yet due, and (v) other liens and security interests (if any) in favor of Agent (the matters described in the foregoing clauses (i), (ii), (iii), (iv), and (v) being herein called the "Permitted Encumbrances"); Mortgagor will warrant and defend title to the Property, subject as aforesaid, against the claims and demands (including claims which would be a Permitted Encumbrance under item (vi) above) of all persons claiming or to claim the same or any part thereof. Without limitation of the foregoing, the ownership by Mortgagor of the Mortgaged Properties does and will, with respect to each well or unit identified on Schedule I, attached hereto and made a part hereof, entitle Mortgagor to receive (subject to the terms and provisions of this Mortgage) a decimal or percentage share of the oil, gas and other hydrocarbons produced from, or allocated to, such well or unit equal to not less than the decimal or percentage share set forth, for such well or unit, in the column headed "Net Revenue Interest" (or words of similar import) on Schedule I, and cause Mortgagor to be obligated to bear a decimal or percentage share of the cost of operation of such well or unit equal to not more than the decimal or percentage share set forth, for such well or unit, in the column headed "Working Interest" (or words of similar import) on Schedule I. The above-described shares of production which Mortgagor is entitled to receive and shares of expenses which Mortgagor is obligated to bear are not and will not be subject to change (other than changes which arise pursuant to non-consent provisions of operating agreements described in Exhibit A in connection with operations hereafter proposed), except, and only to the extent that, such changes are reflected in Schedule I. There is not and will not be any unexpired financing statement cove...

Title and Permitted Encumbrances. 9.1 The Vendor shall deliver the Purchased Assets and all other items or property to be conveyed hereunder to the Purchaser on Closing with a clear title free of all or any encumbrances.

Title and Permitted Encumbrances. Mortgagor has, and Mortgagor covenants to maintain, good and defensible title to the fee interests in real property and the oil and gas leasehold interests comprising the Property, in each case free and clear of all liens, security interests, and encumbrances except for Permitted Liens (as defined in the Credit Agreement). The ownership by Mortgagor of the Mortgaged Properties does and will, with respect to each well or unit identified on EXHIBIT A, attached hereto and made a part hereof, entitle Mortgagor to receive (subject to the terms and provisions of this Mortgage) a decimal or percentage share of the oil, gas and other hydrocarbons produced from, or allocated to, such well or unit equal to not less than the decimal or percentage share set forth, for such well or unit, in the column headed "Net Revenue Interest" (or comparable reference) on EXHIBIT A, and cause Mortgagor to be obligated to bear a decimal or percentage share of the cost of operation of such well or unit equal to not more than the decimal or percentage share set forth, for such well or unit, in the column headed "Working Interest" (or comparable reference) on EXHIBIT A without a corresponding and proportional increase in Mortgagor's "Net Revenue Interest" attributable thereto. The above-described shares of production which Mortgagor is entitled to receive and shares of expenses which Mortgagor is obligated to bear are not and will not be subject to change (other than changes which arise pursuant to non-consent provisions of operating agreements described in EXHIBIT A in connection with operations hereafter proposed), except, and only to the extent that, such changes are reflected in EXHIBIT A. There is not and will not be any unexpired financing statement covering any part of the Property on file in any public office naming any party other than Agent as secured party and other than Permitted Liens (as defined in the Credit Agreement) allowed under Section 6.2(a)(ii) of the Credit Agreement.

Title and Permitted Encumbrances. Mortgagor has, and Mortgagor covenants to maintain, good and merchantable title to the Mortgaged Properties, free and clear of all liens, security interests, and encumbrances except for (i) the contracts, agreements, burdens, encumbrances and other matters set forth in the preliminary title opinions delivered by Mortgagor to Lender, and other routine operational agreements directly related to the Mortgaged Properties which do not provide for material future commitments, which do not alter the share of revenues which Mortgagor is entitled to receive (or share of expenses that Mortgagor is obligated to bear) with respect to the lands covered thereby and which are of a type normally employed by prudent parties with respect to oil and gas properties, (ii) the liens and security interests evidenced by this Mortgage, (iii) statutory liens for taxes which are not yet delinquent (or which are being contested by Mortgagor in good faith and for which Mortgagor has established adequate reserves, (iv) liens under operating agreements, pooling orders and unitization agreements with respect to obligations which are not yet due (or which are being contested by Mortgagor in good faith and for which Mortgagor has established adequate reserves), (v) mechanics' and materialmen's liens, with respect to obligations which are not yet due (or which are being contested by Mortgagor in good faith and for which Mortgagor has established adequate reserves or has secured adequate indemnification from the effects thereof), (vi) other liens and security interests (if any) in favor of Lender (the matters described in the foregoing clauses being herein called the "Permitted Encumbrances"); Mortgagor will warrant and defend title to the Property, subject as aforesaid, against the claims and demands of all persons claiming or to claim the same or any part thereof.

Title and Permitted Encumbrances. Mortgagor has, and Mortgagor covenants to maintain, good and defensible title to the Property, free and clear of all liens, security interests, and encumbrances except for Permitted Liens (as defined in the Credit Agreement). Mortgagor will warrant and defend title to the Property, subject as aforesaid, against the claims and demands of all persons claiming or to claim the same or any part thereof. Except to the extent permitted in the Credit Agreement, Mortgagor further binds and obligates itself not to sell, mortgage, or encumber any of the Property to the prejudice of this act. Upon request by Agent, Mortgagor will, subject to the Credit Agreement, deliver to Agent schedules of all internal and third party information identifying the Mortgaged Properties (such as, for example, internal identification names and numbers used by Mortgagor in accounting for revenues, costs, and joint interest transactions attributable to the Mortgaged Properties).

Title and Permitted Encumbrances. Grantor has, in Grantor's own right, and Grantor covenants to maintain, lawful, good and marketable title to the Property, is lawfully seized and possessed of the Property and every part thereof, and has the right to convey the same, free and clear of all liens, charges, claims, security interests, and encumbrances except for (i) the matters, if any, set forth under the heading "Permitted Encumbrances" in Exhibit B hereto, which are Permitted Encumbrances only to the extent the same are valid and subsisting and affect the Property, (ii) the liens and security interests evidenced by this Amended and Restated Deed of Trust and the exceptions set forth in Schedule B – Section II of that certain Commonwealth Land Title Insurance Company Commitment for Title Insurance (Commitment No. ) issued to the Grantor and the Grantee,

Title and Permitted Encumbrances. Mortgagor has, and Mortgagor covenants to maintain, good and defensible fee simple title to or valid leasehold interests, or valid easements or other property interests in the Mortgaged Properties which are real/immovable property and good and valid title to the Property that is personal property necessary in the ordinary conduct of its business, all free and clear of all Liens, privileges, security interests, and encumbrances except for (i) the contracts, agreements, burdens, encumbrances and other matters set forth in the descriptions of certain of the Mortgaged Properties on Exhibit A hereto, (ii) the Liens permitted under Section 7.01 of the Credit Agreement, and (iii) such defects in title as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Mortgagor will warrant and defend title to the Property, subject as aforesaid, against the claims and demands of all persons claiming the same or any part thereof. Any and all references made in this Mortgage to Liens permitted under Section 7.01 of the Credit Agreement are made for the purpose of limiting certain warranties and covenants made by Mortgagor herein and such reference is not intended to affect the description herein of the Mortgaged Properties nor to subordinate the Liens and security interests hereunder to any Liens permitted under Section 7.01 of the Credit Agreement.

Title and Permitted Encumbrances. Mortgagor has, in Mortgagor’s own right, and Mortgagor covenants to maintain, lawful, good and marketable title to the Property, is lawfully seized and possessed of the Property and every part thereof, and has the right to convey the same, free and clear of all liens, charges, claims, security interests, and encumbrances except for (i) the matters, if any, shown as exceptions in the lender’s policy of title insurance insuring the lien of this Mortgage, which are Permitted Encumbrances only to the extent the same are valid and subsisting and affect the Property, (ii) the liens and security interests evidenced or granted by this Mortgage, (iii) minor imperfections of title that do not detract from the value or impair the use of the Property, (iv) liens for taxes not yet due or for taxes that the Company is contesting in good faith through appropriate proceedings, and the lien for any assessments not yet due under any school, improvement or special district bonds issued by any governmental authority where the proceeds are used to finance public improvements and/or services; (v) covenants, conditions and restrictions of general applicability to the use and occupancy of the Property and other contiguous properties that evidence a common plan of development; (vi) utility, storm drainage, access, landscaping, and other non-exclusive easements for use of portions of a Property that do not detract from the value or impair the use of the Property; (vii) mineral, water or patent rights reserved or granted by a predecessor in interest to the United States of America or any successor in interest; (viii) any Permitted Ohio Financing Facility Liens (as defined in the Credit Agreement); (ix) easements, including exclusive easements and access easements, granted to the State of Ohio or any governmental agency thereof or utility for the purpose of building, operating and maintaining an electrical substation and related equipment and electrical wires (collectively, the “Duke Energy Easements”); and (x) liens permitted by Section 7.01(d), (f), (h), (i), (l), (n), and (o) of the Credit Agreement (the matters described in the foregoing clauses (i) through (x) being herein called the “Permitted Encumbrances”). Mortgagor, and Mortgagor’s successors and assigns, will warrant generally and forever defend title to the Property, subject as aforesaid, to Mortgagee and its successors or substitutes and assigns, against the claims and demands of all persons claiming or to claim the same...

Title and Permitted Encumbrances. Mortgagor has, and Mortgagor covenants to maintain, good and defensible title to the Property, free and clear of all liens, security interests, and encumbrances except for (i) the contracts, agreements, burdens, encumbrances and other matters set forth in the descriptions of certain of the Mortgaged Properties on Exhibit A hereto, Houston 3941837v.4