Ownership and Liens; Real Property. The Borrower and each Restricted Subsidiary (a) has good and marketable title to, or a valid leasehold interest in, all real Property, and good title to all personal Property, in each case necessary for its business, including as of the Effective Date the Property reflected in the financial statements referred to in Section 4.4(a), and (b) none of the Property owned or leased by any such Person is subject to any Lien except for minor defects in title that do not materially interfere with its ability to conduct its business or to utilize such assets for their intended purpose and Permitted Liens.
Appears in 3 contracts
Samples: Credit Agreement (Pioneer Energy Services Corp), Credit Agreement (Pioneer Drilling Co), Credit Agreement (Pioneer Drilling Co)
Ownership and Liens; Real Property. The Each Borrower and each Restricted Subsidiary (a) has good and marketable title to, or a valid and subsisting leasehold interest in, all material real Property, and good title to all personal Property, used in each case necessary for its business, including as of the Effective Date the Property reflected in the financial statements referred to in Section 4.4(a), and (b) none of the Property owned or leased by any such Person a Borrower or a Subsidiary is subject to any Lien except for minor defects in title that do not materially interfere with its ability to conduct its business or to utilize such assets for their intended purpose and Permitted Liens.
Appears in 3 contracts
Samples: Credit Agreement (Complete Production Services, Inc.), Credit Agreement (Complete Production Services, Inc.), Credit Agreement (Complete Production Services, Inc.)
