Condition of Tangible Personal Property. Each item of Tangible Personal Property included in the Assets is in good repair and good operating condition, ordinary wear and tear excepted, is suitable for immediate use in the Ordinary Course of Business and, to the Knowledge of Seller, is free from latent and patent defects. No item of Tangible Personal Property included in the Assets is in need of repair or replacement other than as part of routine maintenance in the Ordinary Course of Business. Except as disclosed in Part 3.9, all Tangible Personal Property used in the Business and included in the Assets is in the possession of Seller.
Condition of Tangible Personal Property. The tangible personal property comprised of the equipment, furniture, and vehicles of the Company, whether leased or owned, is in good operating condition and repair, reasonable wear and tear excepted. No major repair items are anticipated and the standard preventive maintenance operations have been carried out in accordance with the manufacturers’ recommendations.
Condition of Tangible Personal Property. Except as set forth on the Seller's Disclosure Schedule, each item of the Company's tangible personal property reasonably required for the continued operation of the Company's Business on a basis consistent with the past practices of the Company's Business immediately prior to the Closing is in good operating condition or repair adequate for its present use, reasonable wear and tear and routine or scheduled maintenance excepted.
Condition of Tangible Personal Property. The equipment described in SCHEDULE 1.1(b) hereto comprises all the equipment used or useful to operate the Stations as they are presently being operated and to the best of Seller's knowledge said equipment is in material compliance with the FCC's Rules and Regulations. From the date hereof until Closing, the Stations and equipment will be operated and maintained in accordance with good engineering practices and to the best of Seller's knowledge in compliance with all of the FCC's Rules and Regulations. Except as disclosed in SCHEDULE 1.1(b), there are no material defects in any of the structures, improvements, electronic equipment or other tangible personal assets of the Stations, all of which are in operating condition. All of the Stations' buildings, structures, transmitters, towers, antennas, guy wires, ground systems, radials and other improvements are on property that will be included within the boundaries of the Real Property and the Leased Property.
Condition of Tangible Personal Property. Except as disclosed on Schedule 4.8, (a) each item of Tangible Personal Property (including motor vehicles, scales, compactors, and bailers and all Tangible Personal Property set forth on Schedule 4.8) is in good repair and good operating condition, ordinary wear and tear excepted, is suitable for immediate use in the Ordinary Course of Business, is free from latent and patent defects and is being operated and maintained in all material respects in accordance with industry standards and prescribed operating instructions (if any) necessary to ensure the effectiveness of equipment warranties and/or service plans, and (b) no item of Tangible Personal Property is in need of repair or replacement other than as part of routine maintenance in the Ordinary Course of Business. All Tangible Personal Property owned or leased by the Company is and will be as of Closing in the possession of the Company.
Condition of Tangible Personal Property. The Tangible Personal ======================================= Property listed in Schedule 1.1.3 (except as expressly noted herein) is in good maintenance, operating condition, and repair in accordance with generally accepted standards of practice in the broadcast industry, and to Seller's knowledge, is free from defects and workmanship in all material respects.
Condition of Tangible Personal Property. All Tangible Personal Property shall on September 30, 1997 be in good and working order and in substantially the same condition as presently exists. All Tangible Personal Property is on September 30, 1997, and on the Closing Date shall be, situated at the Business premises and shall be used or usable by Seller in connection with the Business. Except for the Excluded Assets, the purchased Assets owned by Seller and being transferred to Buyer pursuant to this Agreement constitute all of the assets used in the Business and such Assets will enable Buyer to operate the Business in substantially the same manner as Seller is now conducting the Business. To Seller's knowledge, the Assets are suitable for the uses for which intended. Except as set forth in Schedule 6.11, no notice of any violation of any law, ordinance or regulation has been received by Seller with respect to the Business or the Assets. All of the Inventory is now and shall be on the Closing Date, in good condition, not obsolete, nondefective and useable or saleable within one (1) year from the Closing Date in the usual and ordinary course of business as conducted by Seller on the date hereof, other than the Service Parts Inventory which shall be useable or saleable within two (2) years from September 30, 1997 in the usual and ordinary course of business as conducted by Seller on the date hereof. All Inventory is reflected on the current financial statements of Seller in accordance with generally accepted accounting principles or consistent with current practices, consistently applied, and valued at the lower of cost or market value.
Condition of Tangible Personal Property. Except as set forth on Schedule 2.1.17(c), the Tangible Personal Property is in good operating condition and repair (ordinary wear and tear excepted), is performing satisfactorily, and is adequate for the conduct of the business of the Company. To the knowledge of the Individual Shareholders, all Tangible Personal Property and the state of maintenance thereof are in compliance with all applicable laws and regulations.
Condition of Tangible Personal Property. The Tangible Personal Property, in the aggregate, is in good operating condition, ordinary wear and tear excepted, and is sufficient to continue to operate the Business after Closing in the Ordinary Course of Business as currently operated by SPC and the Radio Subsidiaries. No item of Tangible Personal Property is in need of repair or replacement other than as part of routine maintenance in the Ordinary Course of Business. Except as disclosed in Schedule 3.6, all Tangible Personal Property is in the possession of the Radio Subsidiaries. All material items of transmitting and studio equipment included in the Tangible Personal Property (a) have been maintained in a manner consistent with generally accepted standards of good engineering practice customary to the radio industry, and (b) will permit the Business to operate in accordance with the terms of the Commission Authorizations, the Communications Act and the policies, rules and regulations of the FCC and FAA and in all material respects with all other applicable Legal Requirements.
Condition of Tangible Personal Property. Schedule 1.1(b) contains a list of all material items of Tangible Personal Property. Except as set forth on Schedule 3.12, the Tangible Personal Property (a) are free of material defects (latent and patent) and are in good operating condition and repair, ordinary wear and tear excepted, taking into account age and normal usage, and (b) have been maintained in accordance with normal industry practice, and (c) are owned by Seller free and clear of Liens (other than Permitted Liens).
