Common use of Facility Leases Clause in Contracts

Facility Leases. No Standard Company owns any real property or has any interest in real property other than the leasehold interests of the relevant Standard Companies under the Facility Leases. In respect of each Facility Lease: (a) the tenant has a good and valid leasehold interest in the Facility Lease free and clear of any Liens except for Permitted Liens and easements, covenants and other encumbrances and restrictions of record that do not materially impair its current use of the Leased Facility; (b) the tenant’s current use of the Leased Facility does not violate any applicable Law, Order or Permit, and the tenant has obtained all Permits required for the Leased Facility’s current use; and the tenant has not assigned or subleased its leasehold interest; (c) the tenant is not, and to the Vendors’ Knowledge, the landlord is not, in Default in a material respect under the Facility Lease; the tenant has not received any Notice asserting a violation of or a Default under the Facility Lease; and to the Vendors’ Knowledge, no event has occurred or circumstance exists that, with or without Notice or the passage of time or both, would result in a Default in a material respect under the Facility Lease or would give the landlord the right to exercise any remedy under the Facility Lease or to cancel, terminate or modify the Facility Lease; and (d) the Leased Facility is now and will be at the time of Closing in good operating condition and repair, except for normal wear and tear; to the Vendors’ Knowledge, the Leased Facility is structurally sound and free of defects, and no material alterations, repairs or restorations are required under the Facility Lease or any applicable Law, Order or Permit; and the Leased Facility is supplied with adequate utilities and other services necessary for the tenant’s current use of the Leased Facility.

Facility Leases. No Standard The Company owns does not own any real property or has have any interest in real property other than the its leasehold interests of the relevant Standard Companies under in the Facility Leases. In respect of each Facility Lease: (a) the Company is the tenant and has a good and valid leasehold interest in the Facility Lease free and clear of any Liens except for Permitted Liens and easements, covenants and other encumbrances and restrictions of record that do not materially impair its the Company’s current use of the Leased Facility; (b) the tenantCompany’s current use of the Leased Facility does not violate any applicable Law, Order or Permit, and ; the tenant Company has obtained all Permits required for the Leased Facility’s current use; and the tenant Company has not assigned or subleased its leasehold interest; (c) the tenant Company is not, and to the VendorsShareholders’ Knowledge, the landlord is not, in Default in a material respect under the Facility Lease; the tenant Company has not received any Notice asserting a violation of or a Default under the Facility Lease; and to the VendorsShareholders’ Knowledge, no event has occurred or circumstance exists that, with or without Notice or the passage of time or both, would result in a Default in a material respect under the Facility Lease or would give the landlord the right to exercise any remedy under the Facility Lease or to cancel, terminate or modify the Facility Lease; and (d) the Leased Facility is now and will be at the time of Closing in good operating condition and repair, except for normal wear and tear; to the VendorsShareholders’ Knowledge, the Leased Facility is structurally sound and free of defects, and no material alterations, repairs or restorations are required under the Facility Lease or any applicable Law, Order or Permit; and the Leased Facility is supplied with adequate utilities and other services necessary for the tenant’s current use of the Leased Facility.

Facility Leases. No Standard The Company owns does not own any real property or has have any interest in real property other than the its leasehold interests of the relevant Standard Companies under in the Facility Leases. In respect of each Facility Lease: (a) the Company is the tenant and has a good and valid leasehold interest in the Facility Lease free and clear of any Liens except for Permitted Liens and easements, covenants and other encumbrances and restrictions of record that do not materially impair its the Company’s current use of the Leased Facility; (b) the tenantCompany’s current use of the Leased Facility does not violate any applicable Law, Order or Permit, and ; the tenant Company has obtained all Permits required for the Leased Facility’s current use; and the tenant Company has not assigned or subleased its leasehold interest; (c) the tenant Company is not, and to the Vendors’ Shareholder’s Knowledge, the landlord is not, in Default in a material respect under the Facility Lease; the tenant Company has not received any Notice asserting a violation of or a Default under the Facility Lease; and to the Vendors’ Shareholder’s Knowledge, no event has occurred or circumstance exists that, with or without Notice or the passage of time or both, would result in a Default in a material respect under the Facility Lease or would give the landlord the right to exercise any remedy under the Facility Lease or to cancel, terminate or modify the Facility Lease; and (d) the Leased Facility is now and will be at the time of Closing in good operating condition and repair, except for normal wear and tear; to the Vendors’ Shareholder’s Knowledge, the Leased Facility is structurally sound and free of defects, and no material alterations, repairs or restorations are required under the Facility Lease or any applicable Law, Order or Permit; and the Leased Facility is supplied with adequate utilities and other services necessary for the tenant’s current use of the Leased Facility.