Common use of Title to Class C Preferred Stock Clause in Contracts

Title to Class C Preferred Stock. Savia owns 16,688 shares of Class C Preferred Stock, beneficially and of record, free and clear of all liens, except for the lien under the Pledge and Security Agreement dated as of June 27, 2001 between Savia and XX Xxxxxx Xxxxx Bank (formerly known as The Chase Manhattan Bank), as collateral agent (the "Pledge Agreement"). At or prior to the Closing, Savia will provide to Seminis a copy of all documentation evidencing the release of the 16,688 shares of Class C Preferred Stock from the lien pursuant to the Pledge Agreement, and upon such release, Savia shall have the right to transfer the 16,688 shares of Class C Preferred Stock free and clear of all liens. The delivery of a certificate or certificates at the Closing representing the shares of Class C Preferred Stock in the manner provided in Section 2.01(b) will transfer to Seminis good and valid title to the shares of Class C Preferred Stock, free and clear of all liens. Upon the Closing, Seminis shall acquire all of Savia's right, title and interest in and to the Cash Obligation and Dividends free and clear of all liens.

Title to Class C Preferred Stock. Savia owns 16,688 shares of Class C Preferred Stock, beneficially and of record, free and clear of all liens, except for the lien under the Pledge and Security Agreement dated as of June 27, 2001 between Savia and XX Xxxxxx Xxxxx JP Morgan Chase Bank (formerly known as The Chase Manhattan Bank), as collateral agent xxxxxxxxxl xxxxt (the "Pledge Agreement"). At or prior to the Closing, Savia will provide to Seminis a copy of all documentation evidencing the release of the 16,688 shares of Class C Preferred Stock from the lien pursuant to the Pledge Agreement, and upon such release, Savia shall have the right to transfer the 16,688 shares of Class C Preferred Stock free and clear of all liens. The delivery of a certificate or certificates at the Closing representing the shares of Class C Preferred Stock in the manner provided in Section 2.01(b) will transfer to Seminis good and valid title to the shares of Class C Preferred Stock, free and clear of all liens. Upon the Closing, Seminis shall acquire all of Savia's right, title and interest in and to the Cash Obligation and Dividends free and clear of all liens.