Common use of Avanex Properties Clause in Contracts

Avanex Properties. Neither Avanex nor any of its subsidiaries owns any ----------------- real property. Avanex and each of its subsidiaries have good and defensible title to, or in the case of leased properties and assets, valid leasehold interests in, all of their material properties and assets, free and clear of all liens, charges and encumbrances except liens for taxes not yet due and payable and such liens or other imperfections of title, if any, as do not materially detract from the value of or materially interfere with the present use of the property affected thereby; and all leases pursuant to which Avanex or any of its subsidiaries lease from others material real or personal property are in good standing, valid and effective in accordance with their respective terms, and there is not, under any such leases, any existing material default or event of default of Avanex or any of its subsidiaries or, to Avanex's Knowledge, any other party (or any event which with notice or lapse of time, or both, would constitute a material default and in respect of which Avanex or its subsidiary has not taken steps to prevent such default from occurring). All the plants, structures, facilities, properties, leased premises and equipment of Avanex and its subsidiaries, except such as may be under construction as set forth in Section 3.16. of the Avanex Disclosure Letter, are in good operating condition and repair, in all material respects.

Avanex Properties. Neither Avanex nor any of its subsidiaries Subsidiaries owns any ----------------- real property. Avanex and each of its subsidiaries Subsidiaries have good and defensible valid title to, or in the case of leased properties and assets, valid leasehold interests in, all of their material properties and assets, free and clear of all liens, charges and encumbrances except liens for taxes not yet due and payable and such liens or other imperfections of title, if any, as do not materially detract from the value of or materially interfere with the present use of the property affected thereby; and all leases pursuant to which Avanex or any of its subsidiaries Subsidiaries lease from others material real or personal property are in good standing, valid and effective in accordance with their respective terms, and there is not, under any such leases, any existing material default or event of default of Avanex or any of its subsidiaries Subsidiaries or, to Avanex's ’s Knowledge, any other party (or any event which with notice or lapse of time, or both, would constitute a material default and in respect of which Avanex or its subsidiary Subsidiary has not taken steps to prevent such default from occurring). All the plants, structures, facilities, properties, leased premises and equipment of Avanex and its subsidiaries, except such as may be under construction as set forth in Section 3.16. of the Avanex Disclosure Letter, Subsidiaries are in good operating condition and repair, in all material respects.

Avanex Properties. Neither Avanex nor any of its subsidiaries owns ----------------- any ----------------- real property. Avanex and each of its subsidiaries have good and defensible title to, or in the case of leased properties and assets, valid leasehold interests in, all of their material properties and assets, free and clear of all liens, charges and encumbrances except liens for taxes not yet due and payable and such liens or other imperfections of title, if any, as do not materially detract from the value of or materially interfere with the present use of the property affected thereby; and all leases pursuant to which Avanex or any of its subsidiaries lease from others material real or personal property are in good standing, valid and effective in accordance with their respective terms, and there is not, under any such leases, any existing material default or event of default of Avanex or any of its subsidiaries or, to Avanex's Knowledge, any other party (or any event which with notice or lapse of time, or both, would constitute a material default and in respect of which Avanex or its subsidiary has not taken steps to prevent such default from occurring). All the plants, structures, facilities, properties, leased premises and equipment of Avanex and its subsidiaries, except such as may be under construction as set forth in Section 3.16. of the Avanex Disclosure Letter, are in good operating condition and repair, in all material respects.