Owned Personal Properties Sample Clauses

Owned Personal Properties. SCHEDULE 2.2(b) (i) lists items of depreciable Machinery and Equipment of the Business, (ii) lists motor vehicles which are owned and used by Seller in the conduct of the Business, and (iii) contains a summarized description of other tangible property comprising the Purchased Assets. Except as set forth in SCHEDULE 5.6(B), there are no liens on (other than those which shall be fully discharged on or before Closing) and Seller at Closing shall convey and transfer to Purchaser good title to all Machinery and Equipment, Inventory, Accounts Receivable and all other non-leased Assets identified in Section 2.2(b) above. All of the personal property, including the Machinery and Equipment, is used and is being sold "AS IS, WHERE IS", without any representations or warranties of any nature other than title (as provided above), including, without any representation or warranty as to merchantability or fitness for a particular purpose. Subject at all times to Section 8.6 below, recovery for a claim pursuant to Section 8.2 alleging a breach of the representations and warranties contained in this Section 5.6(b) will be limited to a credit for the actual out-of-pocket expenses incurred by Purchaser up to the price paid by Purchaser in connection with the particular asset in question.
Sample 1
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Related to Owned Personal Properties

  • Leased Personal Property Other than Personal Property owned by the Company or the Company Subsidiary, the Company or the Company Subsidiary has good and valid leasehold title to all of the tangible personal property Assets used by the Company or the Company Subsidiary, free and clear of any and all Encumbrances other than Permitted Encumbrances which would not permit the termination of the lease therefor by the lessor. Disclosure Schedule 3.9(c) sets forth all Leases for personal property. With respect to each Lease listed on Disclosure Schedule 3.9(c), (i) there has been no breach or default under such Lease by the Company, the Company Subsidiary or by any other party, (ii) the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby will not cause (with or without notice and with or without the passage of time) a default under any such Lease, (iii) such Lease is a valid and binding obligation of the applicable lessor, is in full force and effect and is enforceable by the Company or the Company Subsidiary in accordance with its terms, (iv) no action has been taken by the Company or the Company Subsidiary and no event has occurred which, with notice or lapse of time or both, would permit termination, modification or acceleration by a party thereto other than by the Company or the Company Subsidiary without the consent of the Company or the Company Subsidiary, (v) no party has repudiated any term thereof or threatened to terminate, cancel or not renew any such Lease, and (vi) neither the Company nor the Company Subsidiary has assigned, transferred, conveyed, mortgaged or encumbered any interest therein or in any leased property subject thereto (or any portion thereof).

  • Owned Properties The Company does not own any real property.

  • Real Property; Personal Property (a) Neither the Company nor any of its Subsidiaries owns any real property.

  • Owned Real Property The Company does not own any real property.

  • Real Properties The Company does not have an interest in any real property, except for the Leases (as defined below).

  • Personal Property Leases Except as set forth in Schedule 3.13.(b), Company has no leases of personal property involving consideration or other expenditure in excess of $5,000 or involving performance over a period of more than three months.

  • Owned Property Section 5.14

  • Leaseholds If the Mortgage Loan is secured by a long-term residential lease, (1) the lessor under the lease holds a fee simple interest in the land; (2) the terms of such lease expressly permit the mortgaging of the leasehold estate, the assignment of the lease without the lessor's consent and the acquisition by the holder of the Mortgage of the rights of the lessee upon foreclosure or assignment in lieu of foreclosure or provide the holder of the Mortgage with substantially similar protections; (3) the terms of such lease do not (a) allow the termination thereof upon the lessee's default without the holder of the Mortgage being entitled to receive written notice of, and opportunity to cure, such default, (b) allow the termination of the lease in the event of damage or destruction as long as the Mortgage is in existence, (c) prohibit the holder of the Mortgage from being insured (or receiving proceeds of insurance) under the hazard insurance policy or policies relating to the Mortgaged Property or (d) permit any increase in rent other than pre-established increases set forth in the lease; (4) the original term of such lease is not less than 15 years; (5) the term of such lease does not terminate earlier than five years after the maturity date of the Mortgage Note; and (6) the Mortgaged Property is located in a jurisdiction in which the use of leasehold estates in transferring ownership in residential properties is a widely accepted practice;

  • Real Property (a) The Company does not own any real property.

  • Owned and Leased Real Properties (a) Neither Public Company nor any of its Subsidiaries owns or has ever owned any real property.

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