Purchased Interests. Subject to the terms and conditions hereof, at the Closing (defined below), Emmis shall sell and assign and Sinclair shall purchase and acquire the Purchased Interests free and clear of any and all liens, mortgages, pledges, security interests, claims, encumbrances or any interests of any third party (collectively, “Liens”).

Purchased Interests. Between the date of this Agreement and Closing, without the prior written consent of Sinclair, Emmis shall not dispose of or agree to dispose of the Purchased Interests, or permit to exist any Liens other than the Pledge upon, the Purchased Interests.

Purchased Interests. Emmis owns the Purchased Interests free and clear of Liens, except for the pledge described on [Schedule 2.4] attached hereto (the “Pledge”), which is to be released at or prior to Closing.