Common use of Title to the Land Clause in Contracts

Title to the Land. ONTARIO represents and warrants that ONTARIO’s title to the Assets is good and marketable and on the Closing shall be free and clear of any lien, claim or encumbrance, except the following (the “Permitted Exceptions”): (a) Liens for taxes and mortgages acknowledged by FOX on the Assets not yet due and payable or which are being contested in good faith; (b) Any items listed in the Title Commitment or any amendment or update to the Title Commitment to which FOX does not timely deliver to ONTARIO a Notice of Objection pursuant to Section 3.9.5.

Title to the Land. ONTARIO RESOURCE represents and warrants that ONTARIORESOURCE’s title to the Assets is good and marketable and on the Closing shall be free and clear of any lien, claim or encumbrance, except the following (the “Permitted Exceptions”): (a) Liens for taxes and mortgages acknowledged by FOX on the Assets not yet due and payable or which are being contested in good faith; (b) Any items listed in the Title Commitment or any amendment or update to the Title Commitment to which FOX does not timely deliver to ONTARIO RESOURCE a Notice of Objection pursuant to Section 3.9.5.