Common use of Condition and Operation of Improvements Clause in Contracts

Condition and Operation of Improvements. All buildings and all components of all buildings, structures and other improvements included within the Owned Real Property (the "IMPROVEMENTS"), including, without limitation, the roofs and structural elements thereof and the heating, ventilation, air conditioning, air pollution emission capture and abatement, plumbing, electrical, mechanical, sewer, waste water and paving and parking equipment systems and facilities included therein, are in good condition and repair and adequate to operate such facilities as currently used. There are no facts or conditions affecting any of the Improvements which would, individually or in the aggregate, interfere in any significant respect with the use, occupancy or operation thereof as currently used, occupied or operated or intended to be used, occupied or operated. There are no structural deficiencies or latent defects affecting any Improvements located upon the Owned Real Property. All water, gas, electrical, steam, compressed air, telecommunication, sanitary and storm sewage lines and systems and other similar systems serving the Owned Real Property are installed and operating and are sufficient to enable the Owned Real Property to continue to be used and operated in the manner currently being used and operated, and any so-called hook-up fees or other associated charges have been fully paid. Each Improvement has direct access to a public street adjoining the Owned Real Property. No Improvement or portion thereof is dependent for its access, operation or utility on any land, building or other improvement not included in the Owned Real Property.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (Stage Stores Inc), Agreement and Plan of Merger (Anthony C R Co), Agreement and Plan of Merger (Stage Stores Inc)

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Condition and Operation of Improvements. All buildings and all --------------------------------------- components of all buildings, structures and other improvements included within the Owned Real Property (the "IMPROVEMENTSImprovements"), including, without limitation, the roofs ------------ and structural elements thereof and the heating, ventilation, air conditioning, air pollution emission capture and abatement, plumbing, electrical, mechanical, sewer, waste water and paving and parking equipment systems and facilities included therein, are in good condition and repair and adequate to operate such facilities as currently used. There used and there are no facts or conditions affecting any of the Improvements which would, individually or in the aggregate, interfere in any significant respect with the use, occupancy or operation thereof as currently used, occupied or operated or intended to be used, occupied or operated. There are no structural deficiencies or latent defects affecting any Improvements located upon the Owned Real Property. All water, gas, electrical, steam, compressed air, telecommunication, sanitary and storm sewage lines and systems and other similar systems serving the Owned Real Property are installed and operating and are sufficient to enable the Owned Real Property to continue to be used and operated in the manner currently being used and operated, and any so-called hook-up fees or other associated charges have been fully paid. Each such utility or other service is provided by a public or private utility or service company and enters the Real Property from an adjacent public street or valid private easement owned by the supplier of such utility or other service. Each Improvement has direct access to a public street adjoining the Owned Real PropertyProperty on which such Improvement is situated over the driveways and accessways currently being used in connection with the use and operation of such Improvement and no existing accessway crosses or encroaches upon any property or property interest not owned by the Seller or any Subsidiary. No Improvement or portion thereof is dependent for its access, operation or utility on any land, building or other improvement not included in the Owned Real Property.

Appears in 1 contract

Samples: Asset Purchase Agreement (Albany Ladder Co Inc)

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