Common use of Assets Necessary to Business Clause in Contracts

Assets Necessary to Business. The assets, properties, contracts and rights of the Company and its subsidiaries include all of the assets, properties, contracts and rights necessary for the conduct of its business in the manner as it is currently conducted and that are reflected in the consolidated balance sheet of the Company as at March 31, 2000 (other than assets reflected on such balance sheet that have been sold or disposed of in the ordinary course of business since the date thereof). The Company and each of its subsidiaries have maintained all their tangible assets in good and normal operating condition, and all such assets are free and clear from all defects in all material respects, ordinary wear and tear excepted, and all such tangible assets are fully adequate and suitable for the purposes for which they are presently used.

Assets Necessary to Business. The assets, properties, contracts con tracts and rights of the Company and its subsidiaries include all of the assets, properties, contracts and rights that are necessary for the conduct of its business the Business in the manner as it is currently conducted conducted, and that are reflected in the consolidated balance sheet of the Company as at March 31, 2000 May Balance Sheet (other than assets reflected on such balance sheet that have been sold or disposed of in the ordinary course of business since and except that the date thereofsale or other disposition of the Designated Real Property pursuant to Section 4.1(c) may occur prior to Closing). The Company and each of its subsidiaries have maintained all of their tangible assets in good and normal operating condition, and all such assets are free and clear from all defects in all material respects, ordinary wear and tear excepted, and all such tangible assets are fully adequate and suitable for the purposes for which they are presently used.