(a)  Purchaser acknowledges and agrees that it has received and approves of, except those liens that Seller is obligated to pay or discharge under Section 5.4(e) , all of which will not be Permitted Encumbrances, (i) all title matters shown on the title commitments (each a “ Title Commitment ,” and collectively the “ Title Commitments ”) listed on Schedule 5.4(a)(i)-1 proposing to insure Purchaser with respect to each of the corresponding Properties listed on Schedule 2.1(a) , except for Pre-Existing Title Defects, (ii) all title exception documents referred to in the Title Commitments, (iii) all matters shown on the existing surveys (the “ Surveys ”) for the Properties made available to Purchaser and listed on Schedule 5.4(a)(iii) , and (iv) all other Permitted Encumbrances.