Business and Property of Loan Parties Sample Clauses

Business and Property of Loan Parties. Upon and after the Closing Date, Loan Parties do not propose to engage in any business other than designing, sourcing and marketing one or more lines of women’s apparel. On the Closing Date, each Loan Party will own all the property and possess all of the rights and Consents necessary for the conduct of the business of such Loan Party.
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Business and Property of Loan Parties. (a) Upon and after the Closing Date, the Companies (excluding Parent) do not propose to engage in any business other than substantially those businesses and activities engaged in by Parent and its Subsidiaries on the Closing Date, any other businesses or activities reasonably related, incidental, ancillary or complementary thereto or reasonable extensions or expansions thereof, as reasonably determined in good faith by the Borrower, including, without limitation, any business relating, incidental, ancillary or complementary to power generation, clean energy or nuclear service or any services relating thereto, and any other businesses that, when taken together with the existing businesses of the Borrower and its Subsidiaries, are immaterial with respect to the assets and liabilities of the Borrower and its Subsidiaries, taken as a whole (collectively, the “Eligible Line of Business”). On the Closing Date, each Company will own or lease all the property and/or possess all of the rights and Consents reasonably necessary for the conduct of the business of such Loan Party. (b) Parent (i) does not engage in any material business or other commercial activities, (ii) does not own any material assets or property, (iii) is not liable with respect to any Indebtedness except for Permitted Indebtedness pursuant to clause (h) of the definition of that term (including the Unsecured Notes), Performance Guarantees or material Contractual Obligations, or (iv) has not granted any Liens over any of its assets or property, in any such case under clauses (i) through (iv) other than: (A) ownership of the Equity Interests of its Subsidiaries and of cash and Cash Equivalents, (B) the maintenance of its corporate existence, and activities and contractual rights incidental thereto and incidental to its status and activities as a holding company for its Subsidiaries; (C) the Obligations hereunder and the Related L/C Facility Obligations, and (D) obligations under the Reimbursement/Cash Collateral Facility and (E) its liabilities, obligations, and Indebtedness under the B. Xxxxx Guarantee Reimbursement Agreement and the B. Xxxxx Fee Letter.
Business and Property of Loan Parties. Upon and after the Closing Date, Loan Parties and their Subsidiaries do not propose to engage in any business other than the manufacture, distribution and sale of compact track (CTL) and skid steer loaders and supplying complete undercarriages and parts to CAT for use on compact track loaders and activities necessary to conduct the foregoing. On the Closing Date, each Loan Party and each Subsidiary will own all the property and possess all of the rights and Consents necessary for the conduct of the business of such Loan Party or Subsidiary.
Business and Property of Loan Parties. (a) Upon and after the Closing Date, Loan Parties do not propose to engage in any business other than the manufacture, distribution, sale and servicing of surface mining equipment and activities necessary to conduct the foregoing. (b) On the Closing Date, each Loan Party will own all the property and possess all of the rights and Consents necessary for the conduct of the business of such Loan Party. Each Loan Party has (i) good, sufficient and legal title to (in the case of fee interests in real property), (ii) valid leasehold interests in (in the case of leasehold interests in real and personal property), and (iii) good title to (in the case of all other personal property), all of their respective properties and assets reflected in their respective financial statements referred to in Section 8.1(c) and in the most recent financial statements delivered pursuant to Sections 9.7 and 9.8, in each case except for assets disposed of since the date of such financial statements in the ordinary course of business or as otherwise permitted under Section 7.1. Except as permitted by this Agreement, all such properties and assets are free and clear of Liens. (c) As of the Closing Date, Schedule 5.22 contains a true, accurate and complete list of (i) all Real Property, and (ii) all leases, subleases or assignments of leases (together with all amendments, modifications, supplements, renewals or extensions of any thereof) affecting each Real Property of any Loan Party, regardless of whether such Loan Party is the landlord or tenant (whether directly or as an assignee or successor in interest) under such lease, sublease or assignment. Each agreement listed in clause (ii) of the immediately preceding sentence is in full force and effect and no Loan Party has knowledge of any default that has occurred and is continuing thereunder, and each such agreement constitutes the legally valid and binding obligation of each applicable Loan Party, enforceable against such Loan Party in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors' rights generally or by equitable principles.
Business and Property of Loan Parties. Upon and after the Closing Date, Loan Parties do not propose to engage in any business other than business conducted by Loan Parties on the Closing Date and activities necessary to conduct the foregoing other than research and development of certain technology relating to emissions controls, and that Loan Parties intend to continue the development of such technology and commercial applications for such technology, and may, subject to the terms of this Agreement, consider commercial relationships with third parties with respect to the development and commercialization of such technology. On the Closing Date, each Loan Party will own all the property and possess all of the rights and Consents necessary for the continued conduct of the business of such Loan Party.
Business and Property of Loan Parties. Upon and after the Closing Date, Loan Parties and their Subsidiaries do not propose to engage in any business other than as currently conducted and related activities necessary to conduct the foregoing, including the manufacture, sale or distribution of any Firearms or Ammunition. Each Loan Party and each Subsidiary of a Loan Party owns or leases all the property and possesses all of the rights and consents necessary for the conduct of the business of such Loan Party and such Subsidiary except as could not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect.
Business and Property of Loan Parties. Upon and after the Closing Date, the Loan Parties and their Restricted Subsidiaries do not propose to engage in any business other than business relating to oil field services and related activities and ancillary, supplementary and complementary lines of business. On the Closing Date, the Loan Parties and their Restricted Subsidiaries, taken as a whole, will own all the property and possess all of the rights and Consents necessary for the conduct of the business of the Loan Parties and their Restricted Subsidiaries, taken as a whole, except where such failure would not reasonably be expected to have a Material Adverse Effect.
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Business and Property of Loan Parties. (a) Upon and after the Closing Date, the Companies (excluding ZTI, Premisys, Zhone Technologies, Paradyne Networks, Paradyne Corporation and DNS) do not propose to engage in any business other than being a global provider of network access solutions and communications equipment for service provider and enterprise networks and activities necessary to conduct the
Business and Property of Loan Parties. Upon and after the Closing Date, the Loan Parties do not propose to engage in any business other than the Permitted Business. On the Closing Date, each Loan Party will own all the property and possess all of the rights and Consents necessary for the conduct of the business of such Loan Party, except for such rights and Consents the absence of which could not reasonably be expected to have a Material Adverse Effect or a material adverse effect with respect to any Plant. Each Loan Party has good title to its properties and assets and none of such properties or assets is subject to any Liens except Permitted Encumbrances. The Loan Parties enjoy peaceful and undisturbed possession under all leases necessary in any material respect for the operation of such properties and assets, and all such leases are valid and subsisting and in full force and effect. The Loan Parties have obtained all material easements, material equipment rental, material operating leases or other material agreements necessary for the operation of its business as now conducted or presently proposed to be conducted and each of those agreements is in full force and effect and subject to no material defaults.
Business and Property of Loan Parties. Upon and after the Closing Date, Loan Parties do not propose to engage in any business other than their current business as described in Parent’s 10-K filed with the SEC for the Fiscal Year ended December 31, 2007, and activities necessary to conduct the foregoing.
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