Common use of Condition and Sufficiency of Assets Clause in Contracts

Condition and Sufficiency of Assets. Except as set forth in Disclosure Schedule Section 3.11, the buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property of the Company Parties structurally sound, are in good operating condition and repair, subject to ordinary wear and tear, and are adequate in all material respects for the uses to which they are being put, and none of such buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property is in need of maintenance or repairs except for ordinary, routine maintenance and repairs that are not material in nature or cost. The buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property currently owned or leased by the Company Parties, together with all other properties and assets of the Company Parties, are sufficient for the continued conduct of the Company Parties’ business after the Closing in substantially the same manner as conducted prior to the Closing and constitute all of the rights, property and assets necessary to conduct the business of the Company Parties as currently conducted.

Appears in 2 contracts

Samples: Membership Interest Purchase Agreement (Green Thumb Industries Inc.), Membership Interest Purchase Agreement

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Condition and Sufficiency of Assets. Except as set forth in Schedule 3.13 of the Disclosure Schedule Section 3.11Schedules, the buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property of the Company Parties members of the Windset Group are structurally sound, are in good operating condition and repair, subject to ordinary wear and tear, and are adequate in all material respects for the Business and for the uses to which they are being put, and none of such buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property is in need of maintenance or repairs except for ordinary, routine maintenance and repairs that are not material in nature or cost. The buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property currently owned or leased by the Company Partiesmembers of the Windset Group, together with all other properties and assets of the Company Partiesmembers of the Windset Group, are sufficient for the continued conduct of the Company Parties’ business Business after the Closing in substantially the same manner as conducted prior to the Closing Closing, and as presently proposed to be conducted, and constitute all of the rights, property and assets necessary to conduct the business of the Company Parties as currently conductedBusiness.

Appears in 1 contract

Samples: Share Purchase Agreement (Landec Corp \Ca\)

Condition and Sufficiency of Assets. Except as set forth in Disclosure Schedule Section 3.11, the buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles vehicles, and other items of tangible personal property of the Company Parties are structurally sound, are in good operating condition and repair, subject to ordinary wear and teartear excepted, and are adequate in all material respects for the uses to which they are being putput as of the date of this Agreement, and none of such buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles vehicles, and other items of tangible personal property is in need of deferred maintenance or repairs as of the date of this Agreement except for ordinary, routine maintenance and repairs that are not material in nature or cost. The buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property currently owned or leased by the Company PartiesCompany, together with all other properties and assets of the Company PartiesCompany, are sufficient for the continued conduct of the Company Parties’ Company’s business after the Closing in substantially the same manner as conducted prior to the Closing and constitute all of the rights, property properties, and assets necessary to conduct the business of the Company Parties as currently conducted.

Appears in 1 contract

Samples: Agreement and Plan of Merger (nFusz, Inc.)

Condition and Sufficiency of Assets. Except as set forth in Section 3.11 of the Disclosure Schedule Section 3.11Schedules, the buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property of the Company Parties Companies are structurally sound, are in good operating condition and repair, subject to ordinary wear and teartear excepted, and are adequate in all material respects for the uses to which they are being put, and none of such buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property is in need of maintenance or repairs except for ordinary, routine maintenance and repairs that are not material in nature or cost. The buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property currently owned or leased by the Company PartiesCompanies, together with all other properties and assets of the Company PartiesCompanies, are sufficient for the continued conduct of the Company PartiesCompanies’ business after the Closing in substantially the same manner as conducted prior to the Closing and constitute all of the rights, property and assets necessary to conduct the business Business of the Company Parties Companies as currently conducted.

Appears in 1 contract

Samples: Membership Interest Purchase Agreement (Chanticleer Holdings, Inc.)

Condition and Sufficiency of Assets. Except as set forth in Section 3.11 of the Disclosure Schedule Section 3.11Schedules, the buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property of Company and each of the Company Parties Acquired Companies are structurally sound, are in good operating condition and repair, subject to ordinary wear and tear, and are adequate in all material respects for the uses to which they are being put, and none of such buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles equipment and other items of tangible personal property is in need of maintenance or repairs except for ordinary, routine maintenance and repairs that are not material in nature or cost. The buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles equipment and other items of tangible personal property currently owned or leased by the Company Partiesor any Acquired Company, together with all other properties and assets of the Company Partiesor any such Acquired Company, are sufficient for the continued conduct of the Company Parties’ Company’s or such Acquired Company’s business after the Closing in substantially the same manner as conducted prior to on the Closing date hereof and constitute all of the rights, property and assets necessary to conduct the business of Company or the Company Parties Acquired Companies as currently conducted.

Appears in 1 contract

Samples: Agreement and Plan of Merger (National CineMedia, LLC)

Condition and Sufficiency of Assets. Except as set forth in Section 3.11 of the Disclosure Schedule Section 3.11Schedules, the buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property of the Company Parties are structurally sound, are in good operating condition and repairrepair in all material respects, subject to ordinary normal wear and teartear excluded, and are adequate in all material respects for the uses to which they are being put, and none of such buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property is in need of material maintenance or repairs repairs, except for ordinary, routine maintenance and repairs that are not material in nature or cost. The buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property currently owned or leased by the Company PartiesCompany, together with all other properties and assets of the Company PartiesCompany, are sufficient for the continued conduct of the Company Parties’ Company's business after the Closing in substantially the same manner as conducted prior to the Closing and constitute all of the rights, property and assets necessary to conduct the business of the Company Parties as currently conducted.

Appears in 1 contract

Samples: Stock Purchase Agreement (Olympic Steel Inc)

Condition and Sufficiency of Assets. Except as set forth in on Section 3.11 of the Company Disclosure Schedule Section 3.11Letter, the buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property of the Company Parties and its Subsidiaries are structurally sound, are in good operating condition and repair, subject to ordinary wear and tear, and are adequate in all material respects for the uses to which they are being put, and none of such buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property is in need of maintenance or repairs except for ordinary, routine maintenance and repairs that are not material in nature or cost. The buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property currently owned or leased by the Company Partiesor its Subsidiaries, together with all other properties and assets of the Company Partiesand its Subsidiaries, are sufficient for the continued conduct of the Company PartiesCompany’s and its Subsidiaries’ business after the Closing in substantially the same manner as conducted prior to the Closing and constitute all of the rights, property and assets necessary to conduct the business of the Company Parties and its Subsidiaries as currently conducted.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Lime Energy Co.)

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Condition and Sufficiency of Assets. Except as set forth in Disclosure Schedule Section 3.113.9, the buildings, plants, structures, furniture, fixtures, machinery, equipment, tooling, vehicles and other items of tangible personal property of the Company Parties and the Company Subsidiaries are structurally sound, are in good operating condition and repair, subject to repair (ordinary wear and teartear excepted), and are adequate in all material respects for the uses to which they are being put, and none of such buildings, plants, structures, furniture, fixtures, machinery, equipment, tooling, vehicles and other items of tangible personal property is in need of maintenance or repairs except for ordinary, routine maintenance and repairs that are not material in nature or cost. The buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property currently owned or leased by the Company Partiesand the Company Subsidiaries, together with all other properties and assets of the Company Partiesand the Company Subsidiaries, are sufficient for the continued conduct of the Company Parties’ business Company’s Business after the Closing in substantially the same manner as conducted prior to the Closing and constitute all of the rights, property and assets necessary to conduct the business Business of the Company Parties and the Company Subsidiaries as currently conducted.

Appears in 1 contract

Samples: Stock Purchase Agreement (Compass Group Diversified Holdings LLC)

Condition and Sufficiency of Assets. Except as set forth in Section 4.10 of the Disclosure Schedule Section 3.11Schedules, the buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property of owned or leased by the Company Parties are structurally sound, are in good operating condition and repair, subject to repair (ordinary wear and tear, tear excepted) and are adequate in all material respects for the uses to which they are being put, and none of such buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property is in need of maintenance or repairs except for ordinary, routine maintenance and repairs that are not material in nature or cost. The buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property currently owned or leased by the Company PartiesCompany, together with all other properties and assets of the Company PartiesCompany, (i) are sufficient for the continued conduct of the Company Parties’ Company’s business after the Closing in substantially the same manner as conducted prior to the Closing and (ii) constitute all of the rights, property and assets necessary to conduct the business of the Company Parties as currently conducted.

Appears in 1 contract

Samples: Membership Interest Purchase Agreement (Northwest Pipe Co)

Condition and Sufficiency of Assets. Except as set forth in Section 3.11 of the Disclosure Schedule Section 3.11Schedules, the buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property of the Company Parties are, to Seller’s Knowledge, structurally sound, are in good operating condition and repair, subject to ordinary wear and tear, and are adequate in all material respects for the uses to which they are being put, and none of such buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property is is, to Seller’s Knowledge, in need of maintenance or repairs except for ordinary, routine maintenance and repairs that are not material in nature or cost. The buildings, plants, structures, furniture, fixtures, machinery, equipment, vehicles and other items of tangible personal property currently owned or leased by the Company PartiesCompany, together with all other properties and assets of the Company PartiesCompany, are sufficient for the continued conduct of the Company Parties’ Company’s business after the Closing in substantially the same manner as conducted prior to the Closing and constitute all of the rights, property and assets necessary to conduct the business of the Company Parties as currently conducted.

Appears in 1 contract

Samples: Employment Agreement (LIVE VENTURES Inc)

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