Leased Tangible Personal Property Sample Clauses
Leased Tangible Personal Property. With respect to any trucks, trailers and forklifts that are part of the Tangible Personal Property, that are leased by the Sellers or their Affiliates pursuant to a capital or finance lease and are subject to a Lien in favor of the lessor thereunder, the Sellers shall take such actions prior to the Closing as necessary to purchase such trucks, trailers and forklifts and to deliver good and clear title to such trucks, trailers and forklifts to the Buyer at the Closing at no additional cost to the Buyer; provided, however, that if the Sellers are unable to purchase such trucks, trailers and forklifts prior to the Closing or if the Sellers are otherwise unable to deliver clear title to any such trucks, trailers and forklifts at the Closing, the Sellers and the Buyer will enter into a vehicle lease with respect to such trucks, trailers and forklifts, whereby the Sellers will lease such trucks, trailers and forklifts to the Buyer at no further cost to the Buyer until such time as the Sellers can purchase such trucks, trailers and forklifts and provide, at no additional cost to the Buyer, good and clear title to such trucks, trailers and forklifts to the Buyer, provided that pursuant to the terms of the vehicle lease the Buyer will fully insure such trucks, trailers and forklifts.
Leased Tangible Personal Property. The Company and its Subsidiaries do not lease any personal property other than pursuant to (i) leases which expire on not more than 90 days notice by the Company or a Subsidiary, (ii) leases which require annual rentals of not more than $25,000, (iii) the "Equipment Lease" (as defined in the Omnibus Agreement) and (iv) leases ("Personalty Leases") listed in the Disclosure Letter. Scherer is not a lessee of any of the ABG Assets. The Company and xxx Xxbsidiaries are not in material default under any of the Personalty Leases or the Equipment Lease and the Company is not aware of any fact which, with notice and/or passage of time, would constitute such a default. No consent is required under the Personalty Leases or the Equipment Lease in connection with the Merger.
Leased Tangible Personal Property. All rights and incidents of interest on the date hereof of Seller in and to (i) the leases relating to tangible personal property leased by Seller from third parties and used in the Seller's Business (the "Personal Property Leases"), and (ii) the tangible personal property leased pursuant thereto (the "Leased Personal Property"), in the case of both clauses (i) and (ii), as listed on Schedule 2.1(b);
Leased Tangible Personal Property. All rights and incidents of interest of Company in and to (i) the leases relating to tangible personal property leased by Company from third parties and used in or relating to the Business (the "PERSONAL PROPERTY LEASES"), and (ii) the tangible personal property leased pursuant thereto (the "LEASED PERSONAL PROPERTY").
Leased Tangible Personal Property. The Company does not lease any personal property other than pursuant to (i) leases in the ordinary course of business which expire on not more than 30 days notice by the Company without payment of any penalty or termination payment, and (ii) leases ("Personal Property Leases") which are listed on Exhibit C, true and correct copies of which have been made available to TSI. Each of the Company and, to the best knowledge of the Company and the Principal Shareholder, the other parties thereto is not in material default under any of the Personal Property Leases, and there is no fact which, with notice and/or passage of time, would constitute such a default. No consent is required under the Personal Property Leases in connection with the Merger.
Leased Tangible Personal Property. The Company does not lease any personal property other than pursuant to (i) leases in the ordinary course of business which expire on not more than 30 days' notice by the Company without payment of any penalty or termination payment, and (ii) leases ("Personal Property Leases") which are listed on Schedule 2.7 of the Disclosure Schedule, true and correct copies of which have been made available (including providing a copy thereof to be retained by SNCI) to SNCI. The parties thereto are not in material default under any of the Personal Property Leases, and there is no fact which, with notice and/or passage of time, would constitute such a default. No consent is required under the Personal Property Leases in connection with the Merger.
Leased Tangible Personal Property. No member of the Company Group leases any personal property other than pursuant to (i) leases in the ordinary course of business which expire on not more than 30 days notice by the member of the Company Group party thereto without payment of any penalty or termination payment, and (ii) leases ("Personal Property Leases") which are listed on the Disclosure Letter. True and correct copies of the domestic Personal Property Leases have been made available (including providing a copy thereof to be retained by Purchaser) to Purchaser. In the case of Personal Property Leases to which the Foreign Subsidiaries are a party ("Foreign Personal Property Leases") general descriptions of the primary terms of said Leases are included in the Disclosure Letter, and copies of said Leases have been delivered where readily available. In the case of each Personal Property Lease, the member of the Company Group party thereto and, to the best knowledge of the Company, the other parties thereto is not in material default under any of the Personal Property Leases, and there is no fact (to the best knowledge of the Company in the case of facts relating to the other party thereto) which, with notice and/or passage of time, would constitute such a default. No consent is required under the Personal Property Leases in connection with the transactions contemplated by this Agreement. In the case of each of the Foreign Personal Property Leases where the property leased thereunder had an original cost of $20,000 (U.S) or more, there is no material difference between the information reflected for said Leases on the financial statements for the Foreign Subsidiaries which have been provided to Purchaser, and the actual amount of rent and other charges under said Leases. Furthermore, under the terms thereof there will be no material difference between the rent and other charges reflectged for the Foreign Personal Property Leases in said financial statements and the rents and other charges payable under said Foreign Personal Property Leases in future years other than as may occur through normal escalation provisions in such Foreign Personal Property Leases.
Leased Tangible Personal Property. At the date hereof, the Company does not lease any personal property other than pursuant to (i) leases in the ordinary course of business which can be terminated on not more than 30 days notice by the Company without payment of any penalty or termination payment, and (ii) leases ("Personal Property Leases") which are listed in Section 3.1(m) of the Disclosure Schedule, true and correct copies of which have been delivered to Parent. Each of the Company and, to the Company's knowledge, the other parties thereto is not in default in any material respect under any of the Personal Property Leases, and the Company is not aware of any fact which, with notice and/or passage of time, would constitute such a default by the Company. Except as set forth in Section 3.1(m) of the Disclosure Schedule, no consent is required under the Personal Property Leases in connection with the Merger.
Leased Tangible Personal Property. ViraTrac, Inc. does not lease any personal property. The Company does not lease any personal property other than pursuant to (i) leases in the ordinary course of business which expire on not more than 30 days notice by the Company without payment of any penalty or termination payment, and (ii) leases ("Personal Property Leases") which are listed on the Disclosure Letter, true and correct copies of which have been made available (including providing a copy thereof to be retained by Purchaser) to Purchaser. Each of the Company and, to the best knowledge of the Company, the other parties thereto is not in material default under any of the Personal Property Leases, and there is no fact (to the best knowledge of the Company in the case of facts relating to the other party thereto) which, with notice and/or passage of time, would constitute such a default. No consent is required under the Personal Property Leases in connection with the transactions contemplated by this Agreement.
Leased Tangible Personal Property. Attached hereto as SECTION 8.14(C) SCHEDULE (A) is a true and complete list of all leases and other agreements under which the Companies lease, hold or operate any tools, furniture, machinery, equipment, vehicles or other Tangible Personal Property owned by any other person for use in the Acquired Business. Copies of all leases for the Tangible Personal Property set forth on SECTION 8.14(C) SCHEDULE (A) have been delivered to Buyer. Except as set forth on SECTION 8.14(C) SCHEDULE (A), all such leases and agreements are in full force and effect. Neither of the Companies nor, to the best knowledge of the Sellers, any other party is in default, violation or breach under any such lease and, to the best knowledge of the Sellers, no event has occurred and is continuing which constitutes or, with notice or the passage of time or both, would constitute a default, violation or breach under any such lease, except as set forth on SECTION 8.14(C) SCHEDULE (A).