Example ContractsClausesnorthstar real estate investment trust, incVariants
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Except as could not reasonably be expected to have a Material Adverse Effect, each of the Borrower and its Subsidiaries has # good and marketable fee title to all of its owned Real Property Assets and # good and valid title to the leasehold estates in all of the leased Real Property Assets, in each case free and clear of all Liens except Permitted Liens.

Except as could not reasonably be expected to have a Material Adverse Effect, eachEach of the Borrower and its Subsidiaries has # good and marketable title in fee titlesimple to, or valid leasehold interests in, all real property material to allthe conduct of its owned Real Property Assetsbusiness, except for such minor defects in title that do not interfere with its ability to conduct its business as currently conducted or to utilize such properties for their intended purposes and # good and valid title to the leasehold estates in all of the leased Real Property Assets, in each case free and clear of all Liens except for Permitted Liens.

ExceptEach of the Borrowers and each of their Subsidiaries has good record and marketable title in fee simple to, or valid leasehold interests in, all real property necessary or used in the ordinary conduct of its business, except for such defects in title as could notnot, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, eachEffect. The property of the BorrowerBorrowers and itstheir Subsidiaries has # good and marketable fee titleis subject to all of its owned Real Property Assets and # good and valid title to the leasehold estates in all of the leased Real Property Assets, in each case free and clear of allno Liens, other than Liens except Permitted Liens.not prohibited by [Section 7.01].

ExceptEach of the Borrowers and the Subsidiary Loan Parties has good and valid fee simple title to, or valid leasehold interests in, or easements or licenses or other limited property interests in, all of its Real Properties and valid title to its personal property and assets, in each case, except for Permitted Liens or defects in title that do not materially interfere with its ability to conduct its business as couldcurrently conducted or to utilize such properties and assets for their intended purposes, in each case, except where the failure to have such title interest, easement, license or right would not reasonably be expected to havehave, individually or in the aggregate, a Material Adverse Effect, each of the BorrowerEffect. All such properties and its Subsidiaries has # good and marketable fee title to all of its owned Real Property Assets and # good and valid title to the leasehold estates in all of the leased Real Property Assets, in each caseassets are free and clear of all Liens exceptLiens, other than Permitted Liens.

ExceptTitle to Assets; No Encumbrances. Each of the Loan Parties and its Subsidiaries has # good, sufficient and legal title to (in the case of fee interests in Real Property), # valid leasehold interests in (in the case of leasehold interests in real or personal property), and # good and marketable title to (in the case of all other personal property), all of their respective assets reflected in their most recent financial statements delivered pursuant to [Section 5.1], in each case except for assets disposed of since the date of such financial statements to the extent permitted hereby and except as could not reasonably be expected to have a Material Adverse Effect, eachEffect. All of the Borrower and its Subsidiaries has # good and marketable fee title to all of its owned Real Property Assets and # good and valid title to the leasehold estates in all of the leased Real Property Assets, in each casesuch assets are free and clear of all Liens except for Permitted Liens.

ExceptEach of the Borrower and the Principal Subsidiaries has good and marketable title to, or valid leasehold interests in, or other rights to use or occupy, all its properties and assets, except for minor defects in title that do not interfere with its ability to conduct its business as couldcurrently conducted or to utilize such properties and assets for their intended purposes and except as would not reasonably be expected to have a Material Adverse Effect, each of the BorrowerEffect. All such material properties and its Subsidiaries has # good and marketable fee title to all of its owned Real Property Assets and # good and valid title to the leasehold estates in all of the leased Real Property Assets, in each caseassets are free and clear of all Liens except Permitted Liens.securing Indebtedness, other than Liens expressly permitted by [Section 6.01].

Except as could not reasonably be expectedSection # Title to have a Material Adverse Effect,Properties, etc. The Borrower and each of the Borrower and its Subsidiaries has # good and marketable feetitle, in the case of Real Property, and good title (or valid Leaseholds, in the case of any leased property), in the case of all other property, to all properties and assets necessary to the conduct of its owned Real Property Assets and # good and valid title to the leasehold estates in all of the leased Real Property Assets, in each caserespective business free and clear of all Liens exceptother than Permitted Liens.

Except as could not reasonably be expected to have a Material Adverse Effect,The Borrower and each of the Borrower and its Subsidiaries has # goodgood, marketable and marketableinsurable fee title to all of its owned Real Property Assets and # good and validsimple title to the leasehold estates in all of the leased Real Property Assets, in each casereal property owned by such Loan Party or such Subsidiary, free and clear of all Liens, other than Liens except Permitted Liens.permitted by the Loan Documents.

Properties. (a) Except as would not have a Material Adverse Effect, each Loan Party and each Restricted Subsidiary have good record, valid and marketable title in fee simple to, or valid leasehold interests in (to the extent such ownership or leasing concepts are applicable to such property in the jurisdiction in which it resides), all Material Real Property necessary in the ordinary conduct of its business, free and clear of all Liens except for Permitted Liens and defects in title as could notnot, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect,Effect. The property of each Loan Party and each of the Borrowerits Restricted Subsidiaries, taken as a whole, # is in good operating order, condition and its Subsidiaries has # goodrepair (ordinary wear and marketable fee title to all of its owned Real Property Assetstear excepted) and # goodconstitutes all the property which is necessary for the business and valid titleoperations of the Loan Parties as presently conducted except to the leasehold estatesextent that any failure would not reasonably be expected to result in all of the leased Real Property Assets, in each case free and clear of all Liens except Permitted Liens.a Material Adverse Effect.

ExceptHoldings, each Borrower and each Restricted Subsidiary has good title to, or valid leasehold interests in, all its real and personal property material to its business, if any (including the Mortgaged Properties), # free and clear of all Liens except for Liens permitted by [Section 6.02] and # except for minor defects in title that do not interfere with its ability to conduct its business as currently conducted or as proposed to be conducted or to utilize such properties for their intended purposes, in each case, except as could not reasonably be expected to havehave, individually or in the aggregate, a Material Adverse Effect, each of the Borrower and its Subsidiaries has # good and marketable fee title to all of its owned Real Property Assets and # good and valid title to the leasehold estates in all of the leased Real Property Assets, in each case free and clear of all Liens except Permitted Liens.Effect.

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