Common use of Title to the LLC Interest; No Agreements to Sell Clause in Contracts

Title to the LLC Interest; No Agreements to Sell. Optionor owns beneficially and of record, free and clear of any claim, lien (including, without limitation, tax liens), option, charge, security interest, mortgage, deed of trust, encumbrance, rights of assignment, purchase rights or other rights of any nature whatsoever of any third party (collectively, “Encumbrances”), and has full power and authority to convey free and clear of any Encumbrances, the LLC Interest, except (i) Encumbrances created in favor of Kite Realty by the transactions contemplated hereby, (ii) Encumbrances that are extinguished at or prior to the Closing Date, and (iii) Encumbrances relating to the Project Indebtedness or any Entity Indebtedness. Other than this Agreement, Optionor is not currently a party to any agreement to sell, transfer or otherwise encumber or dispose of, and has no obligation (absolute or contingent) to sell, the LLC Interest owned by Optionor. Optionor covenants and agrees not to encumber the LLC Interest during the Option Term except in connection with the Project Indebtedness and any Entity Indebtedness.

Title to the LLC Interest; No Agreements to Sell. Optionor owns beneficially and of record, free and clear of any claim, lien (including, without limitation, tax liens), option, charge, security interest, mortgage, deed of trust, encumbrance, rights of assignment, purchase rights or other rights of any nature whatsoever of any third party (collectively, “"Encumbrances”"), and has full power and authority to convey free and clear of any Encumbrances, the LLC Interest, except (i) Encumbrances created in favor of Kite Realty by the transactions contemplated hereby, (ii) Encumbrances that are extinguished at or prior to the Closing Date, and (iii) Encumbrances relating to the Project Indebtedness or any Entity Indebtedness. Other than this Agreement, Optionor is not currently a party to any agreement to sell, transfer or otherwise encumber or dispose of, and has no obligation (absolute or contingent) to sell, the LLC Interest owned by Optionor. Optionor covenants and agrees not to encumber the LLC Interest during the Option Term except in connection with the Project Indebtedness and any Entity Indebtedness.