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. 17 (n) Contracts................................................................17 (o) Assets...................................................................19
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. 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 the other parties thereto is not in default 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. No consent is required under the Personal Property Leases in connection with the Merger.
Leased Tangible Personal Property. Section 5.21 of the Disclosure Schedule lists all tangible personal property leases to which the Company is a party and that involve annual rental payments in excess of Five Thousand Dollars ($5,000) individually or Twenty Thousand Dollars ($20,000) in the aggregate. The Company is not in material default under such leases.
Leased Tangible Personal Property. Except as listed or described on Schedule 5.9.2(a), Alpart has, or the partners of Alpart as tenants in common for the use and benefit of Alpart have, a valid leasehold interest in or valid rights to the material tangible personal property that is leased to or otherwise used by Alpart, other than the Owned Tangible Personal Property, in connection with the conduct of the Business (the “Leased Tangible Personal Property”) in accordance with the terms of the applicable contract. Schedule 5.9.2(b) sets forth in all material respects a true and complete list as of the date of this Agreement of all of the Leased Tangible 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.
