Improvements in Operable Condition Sample Clauses

Improvements in Operable Condition. To the Sellers' Knowledge, except for Property Restrictions and except as set forth on Schedule 2.10(b), (i) the Acquired Company identified therein holds a good and marketable leasehold interest (each, a "Leasehold") in the Leased Property pursuant to a valid ground lease (each, a "Lease"), each of the Leases at present and immediately prior to the Closing shall be in full force and effect, the Acquired Company which is the lessee thereunder is not, nor will it be at Closing, in default under any Lease in respect of any monetary obligation or otherwise in any material respect, subject however to obtaining the consents identified on Schedule 2.6(b) as it relates to the Leases, and each of the Leases represents the complete agreement between such Acquired Company and the lessor thereunder and all material (ii) (A) Improvements and (B) Leased Improvements are in operable condition and the Sellers have the right to possess, occupy and operate same, free and clear of any liens or security interests. "Leased Improvements" include all existing buildings, structures and other improvements located upon each of the parcels of real property comprising a golf facility leased by the Acquired Companies (the "Leased Properties") as set forth on Schedule 2.10(b) hereto or leased since the date of this Agreement, which buildings, structures and other improvements include without limitation all clubhouse buildings, maintenance facilities, golf courses, driving ranges, practice areas, landscaping improvements, man-made lakes, irrigation systems (including sprinklers, pipes and fittings), lakeliners, pumps, flood control works, paving, walkways, road improvements, parking facilities, and all other improvements of whatever kind owned by the Acquired Companies which have previously been made, installed or erected and are now located on such Leased Properties (collectively, the "Leased Improvements," and together with the Leaseholds, the Improvements, the Owned Properties and the Leased Properties, the "Properties").

Improvements in Operable Condition. All Improvements and Leased Improvements are in operable condition and are free from defects or damage which would render them unfit for their continued use in the manner in which they currently are used. All water, sewer, gas, electric, telephone, access and drainage facilities and all other utilities required by Law and by the normal operation of the Improvements (1) are available to the Improvements with valid permits (where required), and (2) are adequate to service the Improvements for their intended purposes and to permit compliance in all respects with all applicable Law;