Owned Cars. Sellers have good and valid title to each Owned Car, free and clear of all Encumbrances other than Permitted Encumbrances. Each Owned Car complies in all material respects with all laws, statutes, ordinances, rules and regulations applicable to the Owned Car. Each Owned Car that is subject to an Owned Car Lease Contract is suitable for interchange on the lines of Class I railroads. To Sellers’ Knowledge, no Owned Car has suffered a Casualty Occurrence or a Partial Casualty Occurrence. Schedule 1.8 sets forth the location of each Owned Car, other than Owned Cars that are subject to an Owned Car Lease Contract as of the date hereof.
Appears in 4 contracts
Samples: Asset Purchase Agreement (PLM Equipment Growth Fund Vi), Asset Purchase Agreement (PLM Equipment Growth & Income Fund Vii), Asset Purchase Agreement (Professional Lease Management Income Fund I LLC)
