Common use of Ownership and Use of Properties Clause in Contracts

Ownership and Use of Properties. Each of the Parent and its Subsidiaries will at all times have legal title to or ownership of, or the right to use pursuant to enforceable and valid agreements or arrangements, all tangible property, both real and personal, and all franchises, licenses, copyrights, patents and know-how which are material to the operation the business of the Parent and its Subsidiaries, taken as a whole, in each case, except for (i) Liens permitted hereunder, (ii) defects in title that would do not materially interfere with their ability to conduct their business as currently conducted or to utilize any such property or assets (including any such intellectual property assets) for their intended purposes or (iii) where the failure to have such title or ownership, right to use, franchise, license, copyright, patent or know-how would not reasonably be expected to result in a Material Adverse Effect.