Business and Assets Clause Samples

Business and Assets. Sponsor Holdings shall not have any assets or liabilities other than (i) Shares or other Securities of the Company, (ii) its rights and obligations under this Agreement, the Sponsor Holdings Investment Agreement, the Note Purchase Agreement and the Notes, (iii) cash and cash equivalents and other investments permitted under the Note Documents, including the Notes, and letters of credit (in form and substance reasonable satisfactory to SHUSA) and financing guarantees from the Original Sponsor Holdings Investors (in form and substance reasonable satisfactory to SHUSA) and (iv) other immaterial liabilities and obligations incidental to the foregoing.

Business and Assets. For the purposes of this paragraph 12 only, a "material asset" means an asset (other than any IP or immovable properties contemplated in paragraph 14) with a book value in the 2020 Accounts and/or the Management Accounts of, or one acquired since then at a purchase price of, more than R1,500,000. 12.1 Each Group Company owns all material assets, free from any Encumbrance, other than those: 12.1.1 disposed of in the ordinary course of business; 12.1.2 subject to hire purchase or finance lease agreements; or 12.1.3 acquired subject to retention of title clauses. 12.2 All assets are in the possession of or under the control of the Group (save where held by a third party in the ordinary course of business).

Business and Assets. 8.1 Since the Accounts Date, the Business of each Body Corporate has been carried on in the ordinary and usual course and, without limitation, there has not been: (a) any material alteration in the terms of employment of its senior management or employees; (b) any liability or obligation incurred or agreed to be incurred or other assets disposed of or agreed to be disposed of, otherwise than in the usual conduct of the Businesses; (c) any special resolution passed; or

Business and Assets. The Business is the only business operation currently carried on by the Targets. Except as does not materially impact the Business, the properties and assets, whether tangible or intangible, of the Targets are in reasonable condition and state of repair and are sufficient to operate the Business as currently conducted. Each Target has good and marketable title to, valid and enforceable leasehold interests in, or a valid and enforceable license to, all of its tangible assets and properties that are material to the Business, free and clear of all Liens (other than Statutory Liens and Permitted Liens). Each Target has good and marketable title to all other assets owned by it that are material to the Business, in each case free and clear of any Liens (other than Statutory Liens and Permitted Liens). This Section 3.05 does not apply to Intellectual Property, which is addressed exclusively in Section 3.06 or real property matters, which are addressed exclusively in Section 3.16.

Business and Assets. The business and assets of the Company shall not have been adversely affected prior to the applicable Closing; and the President and Treasurer of the Company shall, on behalf of the Company, deliver to the Purchasers at such Closing Date a certificate to such effect, dated as of the applicable Closing Date.

Business and Assets. (a) The Rambler Business is the only business carried on by Rambler and its Subsidiaries. (b) Rambler and its Subsidiaries own, possess, or have obtained and are in compliance in all material respects with all Authorizations necessary to conduct the Rambler Business as currently conducted, in accordance with applicable Laws, and neither Rambler nor any of its Subsidiares is in default under any such Authorization or has received any notice of any claim or default with respect to any such Authorization.

Business and Assets. There exist no agreements or --------------------- arrangements for the sale by Seller of the Business (including, without limitation, calls on or other rights in favor of Persons other than Seller to purchase such Business and Assets whether or not the same are currently being exercised).

Business and Assets. (a) The Thundermin Business is the only business carried on by Thundermin. (b) Thundermin owns, possesses, or has obtained and is in compliance in all material respects with, all Authorizations necessary to conduct the Thundermin Business as currently conducted, in accordance with applicable Laws, and Thundermin is not in default under, nor has it received any notice of any claim or default with respect to, any such Authorization. (c) No registrations, filings, applications, notices, transfers, consents, approvals, audits, qualifications, waivers or other action of any kind is required by virtue of the execution and delivery of this Agreement, or of the consummation of the Transactions, (i) to avoid the loss of any Authorization or any asset, property or right pursuant to the terms thereof, or the violation or breach of any Law applicable thereto, or (ii) to enable Amalco to hold and enjoy the same immediately after the Effective Date in the conduct of the Thundermin Business as conducted by Thundermin prior to the Effective Date. (d) Thundermin has good and marketable right, title and interest, free and clear of any title defect or Encumbrance that is not a Permitted Encumbrance, (i) to its permits, mining concessions, claims, leases, licences or other rights to explore for, exploit, develop, mine or produce minerals and any other properties; (ii) to its real property interests, including fee simple estate of and in real property, licenses (from landowners and authorities permitting the use of land by Thundermin), leases, rights of way, occupancy rights, surface rights, easements or other real property interests, or licences; or (iii) to, or is entitled to the benefits of, all of its properties and assets (real and personal, tangible and intangible, including leasehold interests) including all the properties and assets reflected in the balance sheet forming part of the Thundermin Audited Financial Statements, except as indicated in the notes thereto, together with all additions thereto and less all dispositions thereof in the Ordinary Course consistent with past practice, and such properties and assets are not subject to any Encumbrance or defect in title of any kind except as is reflected in the balance sheets forming part of such financial statements and in the notes thereto. (e) No person or other entity has any written or oral agreement, option, understanding or commitment, or any right or privilege capable of becoming such for the purchase or other a...

Business and Assets. Subject to the terms and conditions of this Agreement, Seller agrees to sell, convey, transfer, assign, and deliver to Buyer, and Buyer agrees to purchase from Seller, free and clear of all mortgages, security interests, liens, charges and other encumbrances, all of the Business, rights, properties and assets (other than the Excluded Assets identified in Section 2.1C below), of every kind, character, and description, whether tangible, intangible, real, personal, or mixed and wherever located, including, without limitation, all of the right, title and interest of Seller in and to the assets described below (collectively, the "Assets"):