Common use of Condition; Sufficiency Clause in Contracts

Condition; Sufficiency. The assets of the Company (together with the Leased Real Estate) constitute all of the property relating to or used or held for use in connection with the Acquired Business on this date, and comprise all property necessary for the continued conduct of the Acquired Business after the Closing by the Company as conducted prior to the Closing by the Company. To the Knowledge of the Seller, subject only to ordinary wear and tear, the assets of the Company are usable and used in the Acquired Business, have been well maintained and are in good operating condition and repair. Since January 1, 2014, no such asset essential to the operation of the Acquired Business has been destroyed, diverted by the Company to other uses, or otherwise disposed of by the Company without having been adequately replaced.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Welch Rory), Stock Purchase Agreement (iGambit, Inc.)

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Condition; Sufficiency. The assets of the each Group Company (together with the Leased Real Estate) constitute all of the property relating to or used or held for use in connection with the Acquired Business on this date, and comprise all property necessary for the continued conduct of the Acquired Business after the Closing by the Company Group Companies as conducted prior to the Closing by the CompanyGroup Companies. To the Knowledge of the Seller, subject Subject only to ordinary wear and tear, the assets of the each Group Company are usable and used in the Acquired Business, have been well maintained and are in good operating condition and repair. Since January 1, 20142010, no such asset essential to the operation of the Acquired Business has been destroyed, diverted by the either Group Company to other uses, or otherwise disposed of by the either Group Company without having been adequately replaced.

Appears in 1 contract

Samples: Stock and Membership Interest (E-Waste Systems, Inc.)

Condition; Sufficiency. The assets of the Company (together with the Leased Real Estate) constitute all of the property relating to or used or held for use in connection with the Acquired Business on this date, and comprise all property necessary for the continued conduct of the Acquired Business after the Closing by the Company as conducted prior to the Closing by the Company. To the Knowledge of the Seller, subject only to ordinary wear and tear, the assets of the Company are usable and used in the Acquired Business, have been well maintained and are in good operating condition and repair. Since January 1November 4, 2014, no such asset essential to the operation of the Acquired Business has been destroyed, diverted by the Company to other uses, or otherwise disposed of by the Company without having been adequately replaced.

Appears in 1 contract

Samples: Stock Purchase Agreement (iGambit, Inc.)

Condition; Sufficiency. The assets of the Company (together with the Leased Real Estate) constitute all of the property relating to or used or held for use in connection with the Acquired Business on this date, and comprise all property necessary for the continued conduct of the Acquired Business after the Closing by the Company as conducted prior to the Closing by the Company. To the Knowledge of the Seller, subject Subject only to ordinary wear and tear, the Affiliate Property and the assets of the Company are usable and used in the Acquired Business, have been well maintained and are in good operating condition and repair. Since January 1, 20142004, no such asset essential to the operation of the Acquired Business has been destroyed, diverted by the Company to other uses, or otherwise disposed of by the Company without having been adequately replaced.

Appears in 1 contract

Samples: Stock Purchase Agreement (Isonics Corp)

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Condition; Sufficiency. The assets of the Company (together with the Leased Real Estate) constitute all of the property relating to or used or held for use in connection with the Acquired Business on this date, and comprise all property necessary for the continued conduct of the Acquired Business after the Closing by the Company as conducted prior to the Closing by the Company. To the Knowledge of the Sellereach Shareholder, subject only to ordinary wear and tear, the assets of the Company are usable and used in the Acquired Business, have been well maintained and are in good operating condition and repair. Since January 1December 31, 20142020, no such asset essential to the operation of the Acquired Business has been destroyed, diverted by the Company to other uses, or otherwise disposed of by the Company without having been adequately replaced.

Appears in 1 contract

Samples: Share Exchange Agreement (ComSovereign Holding Corp.)

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