Fixed Assets and Current Assets Clause Samples

Fixed Assets and Current Assets. 9.3.1 The Group Companies are the legal and/or economic owners (rechtliche und/oder wirtschaftliche Eigentümer) of all fixed and current assets (Anlagevermögen und Umlaufvermögen) capitalised in the financial statements ending 31 December 2016 or acquired after the balance sheet date (the “Assets”), unless any such Asset has been disposed of after the Effective Date in the ordinary course of business of such Group Company, provided that the Parties acknowledge that the Assets of the Hydrogen Business are held by the JV Partnership as of the completion of the Carve-Out. Except as set forth in Exhibit 9.3.1, the Assets are not encumbered with any liens, pledges or other encumbrances or rights of repossession (Herausgabeansprüche) in favour of third parties except for rights of retention of title (Eigentumsvorbehalte), liens, statutory liens (gesetzliche Pfandrechte) or other security rights in favour of customers, suppliers, landlords, carriers and the like created in the ordinary course of business by the relevant Group Company in the balance sheet of which such Assets are to be shown. 9.3.2 Considering their age, use and book value all assets owned by the Group Companies (including all Assets pertaining to the Hydrogen Business) are in a serviceable and/or usable condition, have been treated carefully and properly and all required maintenance has been conducted. No investments or material capital expenditures have been deferred within the Group Companies. All movable assets (bewegliche Vermögensgegenstände) – including inventories (Vorräte) – which are necessary to conduct the respective business to the extent and in the manner as presently conducted are available to the respective Group Companies.