Common use of Title Representations Clause in Contracts

Title Representations. Each Seller, severally and not jointly, represents and warrants to Buyer that the statements contained in this Section 3.01 are correct and complete as of the date of this Agreement and will be correct and complete as of the Closing Date (as though made then and as though the Closing Date were substituted for the date of this Agreement throughout this Section 3.01), except as set forth on Section 3.01 of the Disclosure Schedule; provided, however, that Kaiser makes each of the following representations and warranties for himself and for each other Seller, it being understood that Kaiser is jointly and severally liable with each Seller as to the accuracy of each Seller’s representations and warranties contained in this Section 3.01. Notwithstanding anything to the contrary herein, the representations in this Section 3.01 are the exclusive representations relating to such matters in this Agreement. (a) (i) Target holds Beneficial Ownership in, under and to each of the Properties, and (ii) Nominee holds Record Title in, under and to each of the Properties, in each case, such that Target and Nominee collectively have Defensible Title to each of the Properties. (b) During Target’s and Nominee’s respective periods of ownership of interests in the Properties, neither any Owner nor Nominee has received any written notice asserting any Lien or other encumbrance, encroachment, defect in, or objection to Nominee’s Record Title to or Target’s Beneficial Ownership of the Properties (excluding Permitted Liens and any Liens which are required by this Agreement to be released at or before Closing), that alone or in combination with other defects renders or could reasonably be expected to render Nominee’s Record Title and Target’s Beneficial Ownership of the Properties or any part thereof, in the aggregate, to be less than Defensible Title. (c) Each Seller hereby warrants, if the Closing occurs, Defensible Title from and against all Persons claiming by, through and/or under Target or Nominee (as applicable), but not otherwise.

Title Representations. Each Seller, severally and not jointly, Seller represents and warrants to Buyer that the statements contained in this Section 3.01 are correct and complete as of the date of this Agreement and will be correct and complete as of the Closing Date (as though made then and as though the Closing Date were substituted for the date of this Agreement throughout this Section 3.01), except as set forth on Section 3.01 of the Disclosure Schedule; provided, however, that Kaiser makes each of the following representations and warranties for himself and for each other Seller, it being understood that Kaiser is jointly and severally liable with each Seller as to the accuracy of each Seller’s representations and warranties contained in this Section 3.01. Notwithstanding anything to the contrary herein, the representations in this Section 3.01 are the exclusive representations relating to such matters in this Agreement. (a) (i) Target holds Beneficial Ownership in, under and to each of the Properties, and (ii) Nominee holds Record Title in, under and to each of the Properties, in each case, such that Target and Nominee collectively have Defensible Title to each of the Properties. (b) During Target’s and Nominee’s respective periods of ownership of interests in the Properties, neither any Owner nor Nominee has received any written notice asserting any Lien or other encumbrance, encroachment, defect in, or objection to Nominee’s Record Title to or Target’s Beneficial Ownership of the Properties (excluding Permitted Liens and any Liens which are required by this Agreement to be released at or before Closing), that alone or in combination with other defects renders or could reasonably be expected to render Nominee’s Record Title and Target’s Beneficial Ownership of the Properties or any part thereof, in the aggregate, to be less than Defensible Title. (c) Each Seller hereby warrants, if the Closing occurs, Defensible Title from and against all Persons claiming by, through and/or under Target or Nominee (as applicable), but not otherwise.

Title Representations. Each Seller, severally and not jointly, represents and warrants to Buyer that the statements contained in this Section 3.01 are correct and complete as of the date of this Agreement and will be correct and complete as of the Closing Date (as though made then and as though the Closing Date were substituted for the date of this Agreement throughout this Section 3.01), except as set forth on Section 3.01 of the Disclosure Schedule; provided, however, that Kaiser makes each of the following representations and warranties for himself and for each other Seller, it being understood that Kaiser is jointly and severally liable with each Seller as to the accuracy of each Seller’s representations and warranties contained in this Section 3.01. Notwithstanding anything to the contrary herein, the representations in this Section 3.01 are the exclusive representations relating to such matters in this Agreement. (a) (i) Target holds Beneficial Ownership in, under and to each of the Properties, and (ii) Nominee holds Record Title in, under and to each of the Properties, in each case, such that Target and Nominee collectively have Defensible Title to each of the Properties. (b) During Target’s and Since the time the Properties were acquired by Nominee’s respective periods of ownership of interests in the Properties, neither any Owner nor Nominee has received any written notice asserting any Lien or other encumbrance, encroachment, defect in, or objection to Nominee’s Record Title to or Target’s Beneficial Ownership of the Properties (excluding Permitted Liens and any Liens which are required by this Agreement to will be released at or before Closing), that alone or in combination with other defects renders or could reasonably be expected to render Nominee’s Record Title and Target’s Beneficial Ownership of the Properties or any part thereof, in the aggregate, to be less than Defensible Title. (c) Each Seller hereby warrants, if the Closing occurs, Defensible Title from and against all Persons claiming by, through and/or under Target or Nominee (as applicable), but not otherwise.