Facility Assets Sample Clauses
The Facility Assets clause defines the specific assets that are included as part of a facility under an agreement. This typically covers tangible items such as equipment, machinery, fixtures, and sometimes intangible assets like licenses or intellectual property associated with the facility. By clearly listing or describing what constitutes the facility's assets, this clause ensures both parties have a mutual understanding of what is being transferred, used, or maintained, thereby preventing disputes and ensuring clarity regarding asset ownership and responsibilities.
Facility Assets. (a) Except as set forth on Schedule 3.14, GB either (i) is the legal and beneficial owner of, and possesses good and marketable title in and to, or (ii) has a valid leasehold interest in and to, all of the Facility Assets, in each case free and clear of any Lien, other than Permitted Liens.
(b) The Facility Assets consisting of buildings, structures, facilities or other improvements, fixtures, and tangible personal property are, in all material respects, in good operating condition and in a state of good maintenance and repair in accordance with normal industry practice, ordinary wear and tear excepted.
(c) The Facility Assets are sufficient, in all material respects, for the continued conduct of the 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 as conducted as of January 1, 2020.
Facility Assets. All Facility Assets (including but not limited any and all cash and accounts receivables) existing as of the effective date of termination, including property acquired by Pacer, or any of its affiliates or subsidiaries, after the Transfer Date; and
Facility Assets. Schedule 3.3(a) (with respect to the Premises), Schedule 3.3(c) (with respect to the Fixtures and Equipment), Schedule 3.3(d) (with respect to the Books and Records), Schedule 3.3(e) (with respect to the Transferred Permits), Schedule 3.3(f) (with respect to the Intellectual Property Assets), Schedule 3.3(g) (with respect to the Supplies), Schedule 3.3(h) (with respect to Transmission Assets), and Schedule 3.3(i) (with respect to the Warranties) contain a true and complete listing of Buyer’s Facility Ownership Interests in and to the Facility Assets. The Fixtures and Equipment are in good repair and operating condition, ordinary wear and tear excepted, and are suitable for continued use in the ordinary course of the Business.
Facility Assets. 7 3.1. Reservation of Title..................... 7 3.2. Separation of Title...................... 8 Section 4. Term of Ground Lease..................... 8 4.1. Ground Lease Term........................ 8 4.2. [Intentionally Omitted].................. 8 4.3. Ground Lessor's Bankruptcy............... 8 Section 5. Rent..................................... 9 5.1. Ground Lease Primary Rent................ 9 5.2.
Facility Assets. Upon the terms and subject to the conditions of --------------- this Lease, the Lessor agrees to lease and hereby leases the Facility Assets to the Lessee, and the Lessee agrees to lease and hereby leases the Facility Assets from the Lessor, for the Basic Lease Term and, subject to the exercise by the Lessee of its renewal option or options as provided in Section 5, the Renewal Term or Renewal Terms.
Facility Assets. If, at any time during the Term, Seller intends to sell the assets comprising all or substantially all of the Facility (the “Facility Assets”) to a person or entity that is not an Affiliate of Seller, Seller shall first offer the Facility Assets to Buyer. Seller’s offer to the Buyer shall set forth, in writing and in reasonable detail, substantially similar terms and conditions of the offer being proposed by the Seller to the other person or entity. Seller shall promptly answer any questions that Buyer may have concerning the offered terms and conditions and shall meet with Buyer to discuss the offer.
Facility Assets. If and to the extent good and marketable title to the Facility Assets was conveyed to the Owner Trustee pursuant to the PGE ▇▇▇▇ of Sale and the PGE Assets Sales Agreement, then Transferor is the sole owner of such Facility Assets and, at the Closing, will transfer such Facility Assets to Transferee free and clear of all Transferor Liens, other than Permitted Liens and, with respect to interests in real property comprising the Facility Assets, Permitted Encumbrances.