Common use of Assets of the Corporation Clause in Contracts

Assets of the Corporation. The Corporation has good title to all of its assets (the "Assets"). Except as otherwise disclosed in the Corporation's Financial Statements or the related notes accompanying them or in the Exhibits to this Agreement or the Disclosure Memorandum, all of the Assets are owned free and clear of any adverse claims, security interests, or other encumbrances or restrictions, except liens for current taxes not yet due and payable, landlords' liens as provided for in the relevant leases or by applicable law, or liens or similar security interests granted as part of personal property financing agreements made in the ordinary course of business and which in the aggregate are not material. The Assets constitute all of the assets necessary for the operation of the Schools as currently conducted.